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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net income $ 13,616 $ 14,698
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,297 8,433
Stock compensation expense 7,208 6,023
Inventory adjustment to net realizable value 163 859
Provision for doubtful accounts 733 519
Deferred tax expense 4,318 4,556
Gain on disposal of property and equipment (30) (60)
Changes in operating assets and liabilities:    
Accounts receivable (1,599) 5,209
Inventory (2,286) (1,636)
Prepaid taxes and tax refund receivable 134 (135)
Prepaid expenses and other assets (5,521) (2,117)
Operating lease assets and liabilities 1,353 (207)
Accounts payable 1,549 2,496
Accrued expenses and other current liabilities 3,795 (2,762)
Deferred revenue 204 261
Payables to sellers 15,281 (3,653)
Other liabilities 0 (128)
Net cash provided by operating activities 48,215 32,356
Investing activities    
Cash paid for business acquisition, net of cash acquired (13,265) 0
Purchases of property and equipment, including capitalized software (6,065) (3,905)
Purchase of short-term investments (2,264) (5,603)
Maturities of short-term investments 3,888 0
Other investing activities, net 60 58
Net cash used in investing activities (17,646) (9,450)
Financing activities    
Common stock repurchases (9,426) (21,198)
Taxes paid associated with net settlement of stock compensation awards (1,455) (1,060)
Payments of the principal portion of finance lease liabilities (72) (75)
Proceeds from exercise of stock options, net of tax 128 496
Net cash used in financing activities (10,825) (21,837)
Effect of exchange rate differences on cash and cash equivalents 287 956
Net decrease in cash and cash equivalents 20,031 2,025
Cash and cash equivalents at beginning of period 110,281 96,122
Cash and cash equivalents at end of period 130,312 98,147
Supplemental disclosure of cash flow information    
Cash paid for income taxes, net $ 810 975
Non-cash: Common stock surrendered in the exercise of stock options   $ 191