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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income $ 5,268 $ 2,659
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,103 9,388
Stock-based compensation expense 4,276 3,695
Deferred taxes (2,247) (3,096)
Interest on finance lease obligations 10 287
Gain on disposal of property and equipment (22) 0
Other 63 (46)
Changes in operating assets and liabilities:    
Accounts receivable (5,654) (2,328)
Inventories 802 (641)
Prepaid expenses and other (359) 1,464
Income taxes 5,457 5,160
Accounts payable (138) 2,536
Accrued liabilities and other 4,779 3,500
Net cash provided by operating activities 21,338 22,578
Investing activities    
Purchases of property, equipment and other capital assets (2,587) (3,441)
Proceeds from sales of property, equipment and other capital assets 22 194
Proceeds from call redemptions and maturities of marketable securities 6,984 7,630
Net cash provided by investing activities 4,419 4,383
Financing activities    
Purchases of shares withheld for tax obligations (533) (401)
Repurchases of common stock (16,013) (21,119)
Principal repayments of finance lease obligations (73) (82)
Net cash used in financing activities (16,619) (21,602)
Effect of exchange rate changes on cash and cash equivalents (124) 134
Net increase in cash and cash equivalents 9,014 5,493
Cash and cash equivalents, beginning of period 83,790 56,558
Cash and cash equivalents, end of period $ 92,804 $ 62,051