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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net income $ 11,311 $ 3,284
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,043 12,637
Loss on disposal of property and equipment 0 355
Share-based compensation expense 10,659 8,410
Deferred income taxes (1,149) 3,075
Amortization of operating lease right-of-use assets 2,682 2,602
Amortization of debt issuance costs 241 573
Changes in operating assets and liabilities:    
Accounts receivable and unbilled receivables (16,052) (7,251)
Inventories (5,734) (2,936)
Prepaid expenses 323 3,652
Other current assets 968 373
Investment in sales-type leases (268) (2,641)
Prepaid commissions 2,881 2,474
Other long-term assets (2,844) 5,206
Accounts payable 208 (233)
Accrued compensation (9,165) (12,604)
Accrued liabilities 2,734 127
Deferred revenues 16,868 7,989
Operating lease liabilities (2,784) (2,669)
Other long-term liabilities 309 4,074
Net cash provided by operating activities 25,231 26,497
Investing Activities    
Software development for external use (10,602) (11,717)
Purchases of property and equipment (3,173) (4,980)
Net cash used in investing activities (13,775) (16,697)
Financing Activities    
Repayment of debt and revolving credit facility (50,000) (39,000)
At the market equity offering, net of offering costs 0 20,216
Proceeds from issuances under stock-based compensation plans 17,659 20,526
Employees’ taxes paid related to restricted stock units (1,425) (1,920)
Net cash used in financing activities (33,766) (178)
Effect of exchange rate changes on cash and cash equivalents (820) 430
Net increase (decrease) in cash and cash equivalents (23,130) 10,052
Cash and cash equivalents at beginning of period 127,210 67,192
Cash and cash equivalents at end of period 104,080 77,244
Supplemental disclosure of non-cash activities    
Unpaid purchases of property and equipment 944 1,454
Property and equipment transferred to inventory 0 105
Right-of-use assets obtained in exchange for new operating lease liabilities $ 792 $ 431