XML 29 R8.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income (loss) $ 15,527 $ (4,783) $ 10,167
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 7,096 4,711 4,441
Fair value of warrants deducted from revenues 25,423 5,366 5,094
Share based compensation 15,133 10,036 6,614
Amortization of premium and accretion of discount on marketable securities, net 1,279 395 (112)
Realized loss (gain) on sale of marketable securities (32) (503) (271)
Change in operating assets and liabilities:      
Trade receivables, net 1,782 (9,529) (18,617)
Inventory (14,079) (15,827) (4,183)
Deposits and long-term assets (110) 54 386
Other accounts receivables and prepaid expenses (4,134) (2,333) (1,204)
Deferred taxes (2,064) 2,177 (5)
Operating lease right-of-use assets and liabilities, net 211 1,265 327
Trade payables 12,865 6,864 6,032
Employees and payroll accruals 9,698 6,366 1,423
Deferred revenues and advances from customers (21,668) 24,286 (921)
Other payables and accrued expenses 5,648 4,822 1,708
Accrued severance pay, net 309 143 26
Other long-term liabilities 760 (877) (136)
Loss from sale and disposal of property, plant and equipment   139 23
Foreign currency translation gain (loss) on intercompany balances with foreign subsidiaries   (362) 212
Net cash provided by operating activities 53,644 32,410 11,004
Cash flows from investing activities:      
Purchase of property, plant and equipment (14,477) (13,489) (5,416)
Acquisition of intangible assets and capitalization of software development costs (130) (121) (1,337)
Proceeds from sale of property, plant and equipment   4 3
Investing in equity securities (351)    
Cash paid in connection with acquisition, net of cash acquired (14,991) (15,535) (4,715)
Proceeds from (Investment in) short-term bank deposits, net 215,636 (129,804) (90,000)
Proceeds from sale marketable securities 1,000 58,532 34,497
Proceeds from maturity of marketable securities 13,526 21,706 3,000
Investment in marketable securities (110,458) (35,923) (115,529)
Net cash provided by (used in) investing activities 89,755 (114,630) (179,497)
Cash flows from financing activities:      
Proceeds from public offering, net of issuance costs 339,760 161,981 129,710
Exercise of employee stock options 4,850 5,660 5,901
Payments related to shares withheld for taxes (2,235) (596) (177)
Payment of contingent consideration     (303)
Net cash provided by financing activities 342,375 167,045 135,131
Foreign currency translation adjustments on cash and cash equivalents   209 (27)
Increase (decrease) in cash and cash equivalents 485,774 85,034 (33,389)
Cash and cash equivalents at the beginning of the period 125,777 40,743 74,132
Cash and cash equivalents at the end of the period 611,551 125,777 40,743
Supplemental disclosure of cash flow information      
Cash paid during the year for income taxes 435 1,028 353
Non-cash investing and financing activities:      
Property, plant and equipment acquired by credit 2,461 1,904 920
Property and equipment transferred to be used as inventory   115  
Inventory transferred to be used as property, plant and equipment 3,572 990  
Lease liabilities arising from obtaining right-of-use assets $ 5,688 $ 2,929 $ 9,640