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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 10,517 $ 8,380
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 3,995 3,261
Amortization of marketable securities premium 39 29
Stock-based compensation 2,225 1,791
Gain (loss) on disposal of equipment 58 (7)
Return of equity method investments (dividends)   774
Equity in income of unconsolidated joint ventures (3,302) (2,613)
Deferred tax assets 61  
Changes in operating assets and liabilities:    
Accounts receivable (4,938) (8,673)
Inventories (15,589) (6,577)
Prepaid expenses and other current assets 4,821 (683)
Other assets (746) (314)
Accounts payable 8,823 3,265
Accrued liabilities (2,677) (8,256)
Other long-term liabilities, including royalties 2,250 (946)
Net cash provided by (used in) operating activities 5,537 (10,569)
Cash flows from investing activities:    
Purchases of property, plant and equipment (20,854) (13,033)
Proceeds from sales and maturities of available-for-sale debt securities 2,480 240
Net cash used in investing activities (18,374) (12,793)
Cash flows from financing activities:    
Proceeds from common stock options exercised 146 1,124
Proceeds from sale of subsidiary shares to noncontrolling interests   538
Proceeds from bank loan 23,380  
Payments on bank loan (2,799)  
Proceeds from capital increase in subsidiary shares from noncontrolling interest 1,313  
Formation of new subsidiary with noncontrolling interests   1,283
Proceeds from issuance of Tongmei's common stock to redeemable noncontrolling interests, net of costs   277
Net cash provided by financing activities 22,040 3,222
Effect of exchange rate changes on cash, restricted cash and cash equivalents (1,023) 321
Net increase (decrease) in cash, restricted cash and cash equivalents 8,180 (19,819)
Cash and cash equivalents at the beginning of the year 36,763 72,602
Cash, restricted cash and cash equivalents at the end of the period 44,943 52,783
Supplemental disclosure of non-cash flow information:    
Conversion of related party borrowings to Additional Paid-in Capital 1,887  
Investment in subsidiary shares from noncontrolling interest 678  
Consideration payable to repurchase subsidiary shares from noncontrolling interests, included in accrued liabilities   $ 3,730
Bank loan proceeds paid directly to a third-party vendor, included in accounts payable 1,177  
Consideration payable in connection with construction in progress, included in accrued liabilities $ 587