XML 19 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income $ 2,165 $ 29,635
Adjustments to net (loss) income:    
Provision for bad debts 896 233
Deferred tax (benefit) expense (13) 3,002
Depreciation and amortization 10,125 10,894
Amortization of developed technology 3,639 3,639
Amortization of debt discount and issuance costs 1,553 2,826
Equity-based compensation 3,926 3,366
Contingent consideration gain (735) 1,338
Warranty provision (1,138) 436
Write-down of inventories 600 1,847
Changes in operating assets and liabilities, net of business acquisition:    
Accounts receivable 95,990 6,238
Inventories (11,542) (23,312)
Income tax receivables 2 369
Prepaid expenses and other (2,219) (6,947)
Accounts payable (23,891) 30,155
Accrued expenses and other (50,569) 3,900
Income tax payable 935 4,952
Lease liabilities (2,472) 824
Deferred revenue 20,250 (27,579)
Net cash provided by operating activities 47,502 45,816
Investing activities    
Purchase of property, plant and equipment (2,396) (3,883)
Retirement/disposal of property, plant and equipment 10 0
Net cash used in investing activities (2,386) (3,883)
Financing activities    
Series A equity issuance costs 0 (750)
Tax withholding related to vesting of equity-based compensation (580) 0
Proceeds from issuance of other debt 2,283 6,469
Principal payments on other debt (3,781) (17,206)
Principal payments on term loan facility (1,070) (11,075)
Contingent consideration payments (1,427) (1,200)
Net cash used in financing activities (4,575) (23,762)
Effect of exchange rate changes on cash and cash equivalent balances (2,001) (4,316)
Net change in cash and cash equivalents 38,540 13,855
Cash and cash equivalents, beginning of period 249,080 133,901
Cash and cash equivalents, end of period 287,620 147,756
Supplemental cash flow information    
Cash paid for interest 11,300 7,980
Cash paid for income taxes (net of refunds) 402 2,522
Non-cash investing and financing activities    
Dividends accrued on Series A Preferred $ 6,837 $ 6,350