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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Cash flows from operating activities:      
Net income (loss) $ 58,293 $ 25,791 $ (18,329)
Net loss from discontinued operations 0 0 35,655
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 18,931 19,406 18,851
Stock-based compensation 30,505 29,137 26,461
Gain/loss on investments, net 6,222 224 861
Deferred income taxes (9,386) (1,379) 2,459
Provision for excess and obsolete inventory 7,872 3,878 2,904
Change in fair value of contingent consideration (2,928) (25) 0
Other 74 (170) (745)
Changes in assets and liabilities, net of effect of acquisitions:      
Accounts receivable (59,885) 26,500 (43,055)
Inventories 55,505 4,504 (85,064)
Prepaid expenses and other assets 4,833 (1,654) (12,114)
Accounts payable 9,744 (56,614) 45,503
Accrued employee compensation 15,718 (11,642) 7,145
Other accrued liabilities 28,194 (16,603) 15,589
Deferred revenue 8,112 (3,354) 5,759
Income taxes payable 9,346 (4,474) (16,939)
Net cash provided by (used in) continuing operating activities 181,150 13,525 (15,059)
Net cash used in discontinued operating activities 0 0 (88,152)
Net cash provided by (used in) operating activities 181,150 13,525 (103,211)
Cash flows from investing activities:      
Purchases of short-term investments (305) (1,617) (81,814)
Proceeds from maturities of short-term investments 290 70,790 137,058
Purchases of property and equipment (10,296) (14,230) (12,251)
Purchases of long-term investments (6,525) (5,484) (1,091)
Proceeds from sale of long-term investments 0 0 624
Payments made in connection with business acquisitions, net of cash acquired 0 0 (14,352)
Net cash provided by (used in) continuing investing activities (16,836) 49,459 28,174
Net cash used in discontinued investing activities 0 0 (71,363)
Net cash provided by (used in) investing activities (16,836) 49,459 (43,189)
Cash flows from financing activities:      
Repurchases of common stock (23,800) (75,946) (30,000)
Restricted stock unit withholdings (5,090) (6,521) (8,065)
Proceeds from exercise of stock options 16,950 5,027 6,841
Proceeds from issuance of common stock under employee stock purchase plan 3,878 3,617 5,554
Net cash used in continuing financing activities (8,062) (73,823) (25,670)
Net cash provided by discontinued financing activities 0 0 170,247
Net cash provided by (used in) financing activities (8,062) (73,823) 144,577
Net increase (decrease) in cash and cash equivalents 156,252 (10,839) (1,823)
Cash and cash equivalents, at beginning of period 190,208 201,047 202,870
Cash and cash equivalents, at end of period 346,460 190,208 201,047
Supplemental Cash Flow Information:      
Cash paid for income taxes 8,218 8,876 23,220
Non-cash investing and financing activities:      
Change in accounts payable and other accrued liabilities relating to property and equipment additions 846 (4,360) 2,604
Fair value of contingent consideration in connection with business acquisition in other accrued liabilities $ 0 $ 0 $ 5,953