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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Cash flows from operating activities:            
Net income $ 68,936 $ 2,765        
Adjustments to reconcile net income to net cash provided by operating activities:            
Depreciation and amortization 3,844 3,572        
Provision for doubtful accounts 104 0 $ 217      
Non-cash interest expense 2,722 1,490        
Financing fees on extinguishment of debt 0 2,152        
Stock-based compensation 7,515 3,290        
Change in fair value of derivatives (15,344) 0        
Deferred income taxes (12,500) 0        
Changes in operating assets and liabilities:            
Accounts receivable 49,637 (3,266)        
Inventory (2,560) 3,296        
Prepaid expenses and other assets (5,009) (2,413)        
Accounts payable, accrued and other liabilities (22,066) 4,851        
Warranty obligations 403 (252)        
Deferred revenues (36,460) 1,578        
Net cash provided by operating activities 39,222 17,063        
Cash flows from investing activities:            
Purchases of property and equipment (3,353) (658)        
Net cash used in investing activities (3,353) (658)        
Cash flows from financing activities:            
Issuance of convertible notes, net of issuance costs 313,011 0        
Purchase of convertible note hedges (89,056) 0        
Sale of warrants 71,552 0        
Principal payments and financing fees on debt (1,148) (44,731)        
Proceeds from exercise of equity awards and employee stock purchase plan 1,979 1,664        
Payment of withholding taxes related to net share settlement of equity awards (34,267) (1,355)        
Net cash provided by (used in) financing activities 262,071 (44,422)        
Effect of exchange rate changes on cash and cash equivalents (205) (133)        
Net increase (decrease) in cash, cash equivalents, and restricted cash 297,735 (28,150)        
Cash, cash equivalents and restricted cash—Beginning of period 296,109 106,237 106,237      
Cash, cash equivalents and restricted cash—End of period 593,844 78,087 296,109      
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets            
Cash and cash equivalents       $ 549,144 $ 251,409 $ 78,087
Restricted cash       44,700 44,700 0
Total cash, cash equivalents, and restricted cash 593,844 78,087 $ 106,237 $ 593,844 $ 296,109 $ 78,087
Supplemental disclosures of non-cash investing and financing activities:            
Purchases of fixed assets included in accounts payable 585 458        
Convertible senior note issuance costs included in accounts payable and accrued expense $ 591 $ 0