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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Apr. 02, 2022
Apr. 03, 2021
Operating activities:    
Net income $ 8,119 $ 20,615
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 10,467 5,171
Depreciation and amortization 3,943 4,077
Deferred income taxes 277 0
Changes in operating assets and liabilities:    
Accounts receivable, net (2,733) (4,989)
Inventory (16,137) (19,943)
Prepaid expenses and other assets (6,738) (1,321)
Accounts payable 8,186 16,156
Accrued liabilities 802 (12,856)
Deferred revenue 3,956 5,362
Other long-term liabilities (2,777) (2,374)
Net cash provided by operating activities 7,365 9,898
Investing activities    
Purchases of property and equipment (3,231) (2,274)
Purchases of marketable securities (73,034) (54,192)
Maturities of marketable securities 56,119 43,000
Net cash used in investing activities (20,146) (13,466)
Financing activities:    
Proceeds from common stock issuances related to employee benefit plans 6,023 8,639
Payments related to financing arrangements (137) 0
Net cash provided by financing activities 5,886 8,639
Effect of exchange rate changes on cash and cash equivalents (69) (24)
Net increase (decrease) in cash and cash equivalents (6,964) 5,047
Cash and cash equivalents at beginning of period 51,333 80,807
Cash and cash equivalents at end of period $ 44,369 $ 85,854