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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ (15,663) $ (17,651)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 5,358 4,417
Amortization of operating lease right-of-use assets 2,391 2,388
Stock-based compensation 19,845 16,379
Loss on disposal of property and equipment 52 7
(Benefits from) provision for credit losses (73) 55
Provision for excess and obsolete inventory 1,378 798
Gain on investments, accretion, and amortization, net (3,631) (5,265)
Interest expenses for accretion of the legal settlement liabilities 512 1,311
Change in operating assets and liabilities:    
Trade accounts receivable 3,901 (7,595)
Inventories 12,755 (2,047)
Prepaid expenses and other assets (2,067) (2,336)
Trade accounts payable 2,324 10
Accrued expenses and other liabilities (3,755) 610
Legal settlement liabilities 11 (374)
Operating lease liabilities (2,300) (2,154)
Deferred revenue 2,344 7,216
Net cash provided by (used in) operating activities 23,382 (4,231)
Cash flows from investing activities:    
Purchases of marketable securities (166,812) (152,563)
Proceeds from maturities of marketable securities 150,000 78,000
Proceeds from sale of property and equipment 97 0
Purchase of property and equipment (2,631) (3,148)
Acquisition of business 0 (44,896)
Purchase of intangible assets (195) (118)
Payment for additional investment in Cytek Japan 0 (235)
Net cash used in investing activities (19,541) (122,960)
Cash flows from financing activities:    
Repayment of loan (418) (425)
Proceeds from Employee Stock Purchase Plan 1,007 966
Payments for taxes related to net share settlement of equity awards (424) (317)
Proceeds from issuance of common stock under employee stock plans 877 1,127
Proceeds from line of credit 1,396 0
Payments for repurchase of shares (14,620) (9,409)
Net cash used in financing activities (12,182) (8,058)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 3,014 (622)
Cash, cash equivalents and restricted cash:    
Net decrease in cash, cash equivalents and restricted cash (5,327) (135,871)
Cash, cash equivalents and restricted cash at beginning of period 167,630 299,500
Cash, cash equivalents and restricted cash at end of period 162,303 163,629
Supplemental disclosure of cash flow information:    
Cash paid for taxes 1,922 810
Non-cash investing and financing activities:    
Fixed asset purchases in accounts payable or accrued purchase at period end 99 96
Intangible asset in accounts payable or accrued expenses at period end 0 9
Derecognition of right-of-use assets 205 0
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 1,637 $ 0