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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 $ 183,079 $ 98,650 $ 49,982
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 11,607 10,818 9,939
Gain on sale of equipment     (168)
Deferred income taxes 8,536 20,257 4,685
Stock-based compensation expense 13,444 12,067 10,485
Provision for excess and obsolete inventory 4,565 3,755 3,696
Foreign currency remeasurement 5,986    
Changes in operating assets and liabilities:      
Accounts receivable (67,270) (18,146) (1,393)
Inventories (58,433) (39,023) (17,652)
Prepaid expenses and other current assets (6,533) (3,955) (7,322)
Accounts payable and other current liabilities 31,392 22,046 18,062
Deferred revenue 86,366 45,385 (6,215)
Income taxes 3,493 253 332
Other assets and liabilities (625) (1,917) 5,272
Net cash provided by operating activities 215,607 150,190 69,703
Cash flows from investing activities      
Proceeds from sale of equipment     168
Expenditures for property, plant and equipment and capitalized software (10,683) (8,718) (7,434)
Purchase of short-term investments (246,571)    
Net cash used in investing activities (257,254) (8,718) (7,266)
Cash flows from financing activities      
Net settlement on restricted stock grants (9,907) (6,564) (3,915)
Repurchase of common stock (57,495) (49,992) (7,501)
Proceeds from Employee Stock Purchase Plan purchases 1,662 1,179 1,009
Principal payments on finance lease obligation (987) (763) (399)
Proceeds from exercise of stock options 1,247 3,687 8,419
Net cash used in financing activities (65,480) (52,453) (2,387)
Effect of exchange rate changes on cash and cash equivalents (2,206) 2,429 (2,352)
Net increase in cash, cash equivalents and restricted cash (109,333) 91,448 57,698
Cash, cash equivalents and restricted cash at beginning of period 295,680 204,232 146,534
Cash, cash equivalents and restricted cash at end of period 186,347 295,680 204,232
Supplemental disclosure of cash flow information      
Income taxes 10,763 1,500 876
Interest $ 4,992 $ 5,086 $ 5,156