XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 6,679 $ 585
Adjustments to reconcile net income to net cash (used in)/provided by operating activities:    
Depreciation 245 108
Amortization 141 188
Bad debt expense 455 223
Inventory excess and obsolescence 2,596 754
Stock-based compensation expense 4,310 3,575
Un-realized exchange loss 85 0
Changes in operating assets and liabilities:    
Accounts receivable-net (34,420) (9,234)
Inventory-net 4,531 (19,242)
Prepaid expenses and other current assets 3,513 (2,557)
Accounts payable and accrued expenses 17,742 12,113
Deferred tax-net 2,561
Deposits and other current liabilities 765 174
Change in right of use assets and lease obligation-net (78) (5)
Net cash (used in)/provided by operating activities 9,125 (13,318)
Cash flows from investing activities:    
Proceeds from note receivable 1,876
Purchase of property and equipment (742) (698)
Net cash provided by/(used in) investing activities (742) 1,178
Cash flows from financing activities:    
Principal payments on finance lease obligations (20) (25)
Proceeds from exercise of stock options 810 716
Net cash provided by financing activities 790 691
Effect on exchange rate changes on cash 104 (165)
Net increase/(decrease) in cash 9,277 (11,614)
Cash at beginning of the period 16,255 43,248
Cash at end of the period 25,532 31,634
Supplemental cash flow disclosures:    
Interest $ 2 $ 2