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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 9,815 $ 8,053
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,390 4,213
Non-cash interest expense 2,691 1,107
Stock-based compensation expense 4,165 3,251
Deferred tax expense   892
Other 140  
Changes in operating assets and liabilities, excluding impact of acquisitions:    
Accounts receivable (2,399) (6,692)
Royalties and other receivables 148 112
Unbilled receivables   2,602
Inventories (7,191) (1,478)
Prepaid expenses and other assets 36 215
Operating lease right of use assets 919 784
Accounts payable (709) (570)
Accrued expenses (4,989) (1,855)
Operating lease liability 334 (840)
Long-term liabilities 180 (6)
Total cash provided by operating activities 9,530 9,788
Cash flows from investing activities:    
Additions to capitalized software costs (911) (1,740)
Purchases of property, plant and equipment (4,126) (2,088)
Total cash used in investing activities (5,037) (3,828)
Cash flows from financing activities:    
Exercise of stock options 1,599 44
Payment of tax withholding obligation on vesting of restricted stock (10)  
Total cash provided by financing activities 1,589 44
Effect of exchange rate changes on cash, cash equivalents and restricted cash (4,923) (3,691)
Net increase in cash, cash equivalents and restricted cash 1,159 2,313
Cash, cash equivalents and restricted cash, beginning of period 537,407 193,822
Cash, cash equivalents and restricted cash, end of period 538,566 196,135
Supplemental disclosure of cash flow information:    
Income taxes paid 1,756 $ 1,055
Interest paid 527  
Supplemental disclosure of non-cash investing and financing activities:    
Assets acquired under operating leases $ 17