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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net income $ 2,276 $ 7,652
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 18,883 20,274
Stock-based compensation expense 7,370 8,428
Deferred taxes (5,605) (5,653)
Interest on finance lease obligations 568 0
Loss on foreign currency translation 3,906 0
Impairments related to closure of Japan business 0 1,792
Gain on disposal of property and equipment (428) 0
Other 215 32
Changes in operating assets and liabilities:    
Accounts receivable 1,106 (5,748)
Inventories (551) (1,783)
Prepaid expenses and other 4,193 (298)
Income taxes 3,524 (1,250)
Accounts payable (961) (521)
Accrued liabilities and other (2,629) 8,115
Net cash provided by operating activities 31,867 31,040
Investing activities    
Purchases of property, equipment and other capital assets (6,829) (6,030)
Proceeds from sales of property, equipment and other capital assets 623 0
Purchases of marketable securities 0 (38,882)
Proceeds from sales of marketable securities 0 1,000
Proceeds from call redemptions and maturities of marketable securities 14,020 7,396
Net cash provided by (used in) investing activities 7,814 (36,516)
Financing activities    
Proceeds from exercises of stock options 1,986 2,311
Purchases of shares withheld for tax obligations (1,425) (1,615)
Repurchases of common stock (30,064) (5,239)
Principal repayments of finance lease obligations (163) (278)
Net cash used in financing activities (29,666) (4,821)
Effect of exchange rate changes on cash and cash equivalents (80) (966)
Net increase (decrease) in cash and cash equivalents 9,935 (11,263)
Cash and cash equivalents, beginning of period 56,558 65,929
Cash and cash equivalents, end of period $ 66,493 $ 54,666