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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
9 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 3,609 $ 8,517
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,967 1,984
Amortization 1,402 1,078
Non-cash reserve charges   (91)
Stock-based compensation 2,345 1,621
Non-cash lease expense (750) 568
Benefit for deferred income taxes (664) (1,473)
Change in fair value of contingent consideration   (2,855)
Gain on disposal of fixed assets (19) (39)
Change in operating assets and liabilities:    
Short-term investments   (114)
Accounts receivable 5,215 1,775
Prepaid and other assets 106 (826)
Accounts payable and other accrued expenses 1,161 3,312
Inventory (4,096) (2,071)
Deposits   182
Net cash provided by operating activities 10,276 11,568
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (362) (630)
Purchase of short-term investments   (9,810)
Proceeds on sale of fixed assets   50
Net cash used in investing activities (362) (10,390)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on finance lease obligations (203) (95)
Cash dividends paid (9) (1)
Purchase of treasury stock (15,625) (24,402)
Excise tax payments on net treasury stock purchases (473)  
Proceeds from issuance of convertible senior notes, net of issuance costs   57,018
Proceeds from the issuance of common stock on stock-based awards 13 33
Principal payments on long-term debt   (10,667)
Taxes withheld and paid on equity awards (566) (691)
Net cash (used in) provided by financing activities (16,863) 21,195
Net (decrease) increase in cash (6,949) 22,373
Cash and cash equivalents at beginning of period 44,579 20,144
Cash and cash equivalents at end of period 37,630 42,517
Supplemental disclosure of cash flow information:    
Cash (paid) received on interest, net (1,017) 452
Cash paid for rent (3,358) (2,522)
Cash paid for income taxes (2,098) (3,541)
Supplemental disclosure of non-cash investing and financing activities:    
Right-of use assets obtained in exchange for new operating lease liabilities   4,214
Right-of use assets obtained in exchange for new finance lease liabilities 831 464
Finance lease liabilities removed for cancelled leases (73)  
Lease incentive   1,400
Vesting of restricted stock awards   (3)
Excise tax accrual (10)  
Inventory transferred to property and equipment under lease 1,494 1,369
Capital expenditures not yet paid 16 101
Prepaid expenses not yet paid 168  
Non-cash dividend adjustment $ (3) $ (1)