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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net income $ 10,230 $ 11,603
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 28,213 29,981
Stock-based compensation expense 11,811 13,335
Deferred taxes (9,197) (8,920)
Interest on finance lease obligations 859 0
Loss on foreign currency translation 3,906 0
Impairments related to closure of Japan business 0 2,842
Gain on disposal of property and equipment (498) (1,174)
Other 122 11
Changes in operating assets and liabilities:    
Accounts receivable (3,058) (3,909)
Inventories (150) (1,613)
Prepaid expenses and other 4,127 (920)
Income taxes 4,693 670
Accounts payable 746 1,292
Accrued liabilities and other 4,242 8,366
Net cash provided by operating activities 56,046 51,564
Investing activities    
Purchases of property, equipment and other capital assets (9,935) (16,414)
Proceeds from sales of property, equipment and other capital assets 693 3,227
Purchases of marketable securities 0 (45,872)
Proceeds from sales of marketable securities 0 1,998
Proceeds from call redemptions and maturities of marketable securities 19,115 13,696
Net cash provided by (used in) investing activities 9,873 (43,365)
Financing activities    
Proceeds from exercises of stock options 1,986 2,311
Purchases of shares withheld for tax obligations (1,436) (1,615)
Repurchases of common stock (39,053) (13,074)
Principal repayments of finance lease obligations (234) (417)
Net cash used in financing activities (38,737) (12,795)
Effect of exchange rate changes on cash and cash equivalents (244) (1,972)
Net increase (decrease) in cash and cash equivalents 26,938 (6,568)
Cash and cash equivalents, beginning of period 56,558 65,929
Cash and cash equivalents, end of period $ 83,496 $ 59,361