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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 79,949 $ 60,277 $ 21,778
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 4,094 2,811 2,234
Deferred tax (income) expense (777) 255 476
Amortization of debt issuance costs 1,094 113 0
Share based compensation expense 10,523 5,815 4,235
Change in provision for doubtful debts (7) (32) (87)
Loss on disposal of fixed assets 0 4 0
Changes in operating assets and liabilities:      
Trade accounts receivable, gross (21,984) (17,338) (9,696)
Inventories (9,518) (21,702) (19,330)
Due from related parties 0 (12) 72
Other assets (6,337) (2,380) (501)
Trade accounts payable (2,113) 6,190 15,661
Other current liabilities 2,875 26,956 10,910
Net cash provided by operating activities 57,799 60,957 25,752
Cash flows from investing activities:      
Investment in short-term deposits (95,500) (84,000) (20,500)
Investment in long-term deposits (47,000) (32,000) 0
Purchase of fixed assets (8,197) (4,065) (2,410)
Purchase of intangible assets (97) (111) (216)
Net cash used in investing activities (150,794) (120,176) (23,126)
Cash flows from financing activities:      
Share issuance, net 0 0 64,288
Proceeds from exercise of share options 3 271 629
Issuance of convertible notes, net 0 194,530 0
Net cash provided by financing activities 3 194,801 64,917
Effect of exchange rate changes on cash (795) 546 225
Net increase (decrease) in cash and cash equivalents (93,787) 136,128 67,768
Cash and cash equivalents at beginning of the year 241,943 105,815 38,047
Cash and cash equivalents at end of the year 148,156 241,943 105,815
A. Cash paid and received during the year for:      
Income taxes paid 11,836 558 546
Interest received 4,293 1,057 1,420
Lease payments 1,480 1,060 1,025
B. Non-cash transactions:      
Fixed assets purchased with supplier credit $ 569 $ 339 $ 159