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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities:      
Net (loss) income $ (79,205) $ 3,207 $ 24,801
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Depreciation and amortization 13,373 15,680 17,970
Stock-based compensation 13,281 14,819 13,155
Deferred income taxes (3,702) (931) (2,526)
Change in provision for excess and obsolete inventory 17,245 2,070 1,616
Change in provision for doubtful accounts 519 59 38
Gain on disposal of assets 275 37 115
Non-cash operating lease expense 2,370    
Gain on extinguishment of debt (2,728)    
Changes in operating assets and liabilities:      
Accounts receivable 10,522 8,186 (350)
Inventory (14,419) 14,101 (9,774)
Prepaid expenses and other assets 5,658 (2,017) 2,837
Prepaid income taxes 17,618 (9,884) (11,745)
Accounts payable 1,978 (12,046) 17,015
Accrued expenses and other current liabilities (2,677) 2,148 6,254
Operating lease liabilities (2,366)    
Accrued income taxes (1,786) (4,240) 5,297
Deferred revenue 15,410 2,409 (11,061)
Net cash (used in) provided by operating activities (8,634) 33,598 53,642
Investing activities:      
Purchases of property and equipment (3,705) (3,887) (5,153)
Purchases of software licenses (714) (1,439) (432)
Net cash used in investing activities (4,419) (5,326) (5,585)
Financing activities:      
Principal repayments of debt (48,878) (16,275) (9,644)
Borrowings on revolving credit facility     6,500
Proceeds from exercise of stock options 327 2,262 1,195
Employee taxes paid related to net share settlement of equity awards (2,106) (6,465) (640)
Proceeds from sale of common stock, net of issuance costs 39,370    
Payments of dividends and equitable adjustments (1) (98) (683)
Repurchases of common stock (1,192) (8,819) (3,031)
Net cash used in financing activities (12,480) (29,395) (6,303)
Effect of exchange rate changes on cash and cash equivalents (2,846) 466 2,050
Net (decrease) increase in cash, cash equivalents and restricted cash (28,379) (657) 43,804
Cash, cash equivalents and restricted cash at beginning of year 157,804 [1] 158,461 [1] 114,657
Cash, cash equivalents and restricted cash at end of year [1] 129,425 157,804 158,461
Supplemental disclosures of cash flow information:      
Cash paid for interest 16,134 16,944 12,917
Cash paid for income taxes 7,911 10,194 2,969
Supplemental disclosures of non-cash investing and financing activities:      
Purchases of property and equipment included in accounts payable $ 90 $ 200 $ 128
[1] See Note 2, Summary of Significant Accounting Policies, for a reconciliation of the ending balance of cash, cash equivalents and restricted cash shown in these consolidated statements of cash flows.