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Condensed Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 332,372 $ 249,080
Accounts receivable, net of allowance of $6,614 and $3,824, respectively 282,117 332,152
Inventories 195,697 161,964
Prepaid expenses and other 92,096 89,085
Total current assets 902,282 832,281
Property, plant and equipment, net 27,629 27,893
Goodwill 250,873 435,591
Other intangible assets, net 301,599 354,389
Deferred income tax assets 15,716 15,870
Other assets 65,005 40,717
Total assets 1,563,104 1,706,741
Current liabilities    
Accounts payable 149,202 119,498
Accrued expenses and other 48,952 70,211
Accrued warranty reserve 1,503 2,790
Income tax payable 1,437 5,754
Deferred revenue 112,618 66,488
Current portion of contingent consideration 1,873 1,427
Current portion of debt 28,055 21,472
Other current liabilities 31,248 48,051
Total current liabilities 374,888 335,691
Deferred income tax liabilities 55,253 66,858
Contingent consideration, net of current portion 6,792 8,936
Other long-term liabilities 16,885 20,428
Long-term warranty 3,889 3,372
Long-term debt, net of current portion 648,318 660,948
Total liabilities 1,106,025 1,096,233
Commitments and contingencies (Note 11)
Series A Redeemable Perpetual Preferred Stock of $0.001 par value; 500,000 authorized; 453,674 and 432,759 shares issued as of September 30, 2024 and December 31, 2023, respectively; liquidation preference of $493.1 million at both dates 392,592 351,260
Stockholders’ equity    
Preferred stock of $0.001 par value - 4,500,000 shares authorized; none issued at respective dates 0 0
Common stock of $0.001 par value - 1,000,000,000 shares authorized; 151,934,046 and 151,242,120 shares issued at respective dates 151 151
Additional paid-in capital 308,347 344,517
Accumulated deficit (243,721) (130,230)
Accumulated other comprehensive income (290) 44,810
Total stockholders’ equity 64,487 259,248
Total liabilities, redeemable perpetual preferred stock and stockholders’ equity $ 1,563,104 $ 1,706,741