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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ 35,902 $ (35,607)
Net income from discontinued operations (79,855) (5,255)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 16,127 13,584
Accretion of debt in interest expense, net 1,025 1,053
Accretion of discount on held to maturity investments in interest expense, net 265 0
Current expected credit losses 1,553 784
Provision for obsolete inventory 684 352
Stock-based compensation 10,696 6,609
Adjustment to contingent consideration liability (600) (7,500)
Deferred income tax (7,037) 0
Changes in operating assets and liabilities:    
Accounts receivable (7,963) (4,489)
Inventories (2,672) 10,796
Other current assets (541) (1,323)
Other assets (125) 564
Accounts payable 4,657 1,760
Accrued salaries and benefits (466) (3,211)
Accrued expenses (2,975) 616
Customer deposits and deferred service revenue (4,017) 25
Customers payable 2,634 1,819
Other long-term liabilities (327) (486)
Cash used in operating activities - continuing operations (33,035) (19,909)
Cash (used in) provided by operating activities - discontinued operations (4,387) 7,114
Net cash used in operating activities (37,422) (12,795)
Cash flows from investing activities:    
Cash paid for acquisition, net of cash acquired (166,292) 0
Capital expenditures (407) (3,023)
Capitalization of software costs (2,668) (1,993)
Proceeds from sale of held to maturity investments 37,753 44,180
Purchases of held to maturity investments (28,351) (45,115)
Cash used in investing activities - continuing operations (159,965) (5,951)
Cash provided by (used in) investing activities - discontinued operations 87,051 (214)
Net cash used in investing activities (72,914) (6,165)
Cash flows from financing activities:    
Proceeds from private placement of common stock, net of issuance costs 194,490 0
Treasury stock acquired from employees upon vesting or forfeiture of restricted stock (5,050) (2,683)
Proceeds from employee stock purchase plan 526 0
Proceeds from exercise of stock options 1,537 202
Cash provided by (used in) financing activities - continuing operations 191,503 (2,481)
Cash provided by (used in) in financing activities - discontinued operations 0 0
Net cash provided by (used in) financing activities 191,503 (2,481)
Effect of exchange rate changes on cash and cash equivalents (132) (2,906)
Net increase (decrease) in cash and cash equivalents and cash held on behalf of customers 81,035 (24,347)
Cash and cash equivalents and cash held on behalf of customers at beginning of period 47,539 77,533
Cash and cash equivalents and cash held on behalf of customers at end of period 128,574 53,186
Reconciliation of cash and cash equivalents and cash held on behalf of customers    
Cash and cash equivalents 115,770 44,162
Cash held on behalf of customers 12,804 9,024
Total cash and cash equivalents and cash held on behalf of customers 128,574 53,186
Supplemental disclosures of cash flow information:    
Cash paid for interest 3,713 106
Cash paid for income taxes 792 525
Capitalized software recorded in accounts payable 35 642
Capital expenditures in accounts payable 88 131
Common stock issued for acquisition 19,170 $ 0
Cash and cash equivalents included in discontinued operations $ 800