XML 24 R8.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net loss $ (93,952) $ (7,651)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 14,644 1,728
Amortization of lease right-of-use assets 2,577 1,396
Amortization of debt discount and issuance costs 557  
Deferred income tax benefit (8,254)  
Loss on disposal of fixed assets 15 7
Stock-based compensation 28,073 15,376
Change in fair value of cash settled stock options (3,172)  
Unrealized foreign currency losses   (204)
Amortization of discount on short-term investments 33 (221)
Other liabilities 2,324 2,090
Changes in operating assets and liabilities:    
Accounts receivable, net 11,556 (3,353)
Inventory, net 21,396 (752)
Prepaid expenses and other current assets (1,606) 462
Accounts payable and accrued liabilities 1,998 (2,011)
Other assets (211) (57)
Net cash (used in) provided by operating activities (24,022) 6,810
Investing activities    
Purchases of short-term investments (60,883) (39,896)
Proceeds from sales and maturities of short-term investments 45,011 41,069
Purchases of property and equipment (3,509) (2,523)
Investment in company-owned life insurance (658) (962)
Net cash used in investing activities (20,039) (2,312)
Financing activities    
Proceeds from convertible senior notes 287,500  
Payment of convertible senior notes transaction costs (9,614)  
Purchase of capped calls related to issuance of convertible senior notes (35,679)  
Proceeds from exercise of stock options 6,590 9,171
Proceeds from share purchases under Employee Stock Purchase Plan 1,278 902
Payment of employee taxes related to vested restricted stock units (2,013) (4,348)
Net cash provided by financing activities 248,062 5,725
Effect of exchange rate changes on cash and cash equivalents 543 21
Net increase in cash, cash equivalents and restricted cash 204,544 10,244
Cash, cash equivalents and restricted cash at beginning of period 71,756 38,596
Cash, cash equivalents and restricted cash at end of period 276,300 48,840
Supplemental disclosures of cash flow information    
Taxes paid $ 294 $ 91