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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net income $ 21,640 $ 15,009
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,072 7,145
Stock-based compensation 3,915 3,489
Fair value adjustment to contingent consideration obligations (49) (81)
Provision for doubtful accounts 60 214
Provision for inventory write-downs 1,455 2,060
Loss on disposal of property and equipment 0 95
Loss on divestitures 485 1,406
Foreign currency transaction (gain) loss (7) (90)
Changes in operating assets and liabilities:    
Accounts receivable (2,077) (1,737)
Inventory and other deferred costs (7,582) (5,041)
Prepaid expenses and other assets (1,160) (1,344)
Accounts payable and other liabilities 2,253 176
Net cash provided by operating activities 26,005 21,301
Investing activities    
Purchases of property and equipment and other assets (5,986) (1,969)
Payments related to acquisitions (899) 0
Purchases of short-term marketable securities (15,569) (8,000)
Net cash used in investing activities (22,454) (9,969)
Financing activities    
Payments of deferred acquisition consideration (0) 401
Proceeds from issuance of common stock 5,073 1,679
Purchase of treasury stock for net settlement of equity awards (186) (152)
Common stock cash dividend paid (9,332) (8,238)
Net cash used in financing activities (4,445) (7,112)
Effect of exchange rate changes on cash and cash equivalents (189) (1,162)
Net increase (decrease) in cash and cash equivalents (1,083) 3,058
Cash and cash equivalents at beginning of period 19,134 13,855
Cash and cash equivalents at end of period $ 18,051 $ 16,913