XML 17 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 11,002 $ 8,562
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,519 6,575
Stock-based compensation 13,569 12,766
Inventory write-downs 358 1,009
Deferred taxes 475 (953)
Other (221) 140
Changes in operating assets and liabilities:    
Accounts receivable 8,460 (3,540)
Inventories (11,619) (10,641)
Prepaid expenses and other current and non-current assets 4,565 (3,994)
Accounts payable 5,209 2,074
Accrued expenses and other non-current liabilities (1,022) 1,131
Net cash provided by (used in) operating activities 38,295 13,129
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of non-marketable investments (10,000) 0
Purchases of marketable investments (11,267) 0
Proceeds from maturities of marketable investments 43,375 14,605
Purchases of property and equipment (5,824) (3,894)
Other 2,100 0
Net cash provided by (used in) investing activities 18,384 10,711
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercises of stock options 238 2,209
Payment of employee taxes related to vested stock (421) (204)
Payments of finance lease obligations (550) (474)
Other (61) (155)
Net cash (used in) provided by financing activities (794) 1,376
Effect of foreign exchange rate changes on cash and cash equivalents (257) (386)
NET INCREASE IN CASH AND CASH EQUIVALENTS 55,628 24,830
CASH AND CASH EQUIVALENTS—Beginning of period 167,486 69,858
CASH AND CASH EQUIVALENTS—End of period 223,114 94,688
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Right-of-use assets obtained in exchange for lease obligations 292 341
Right-of-use assets obtained in exchange for finance lease obligations 17 68
Purchase of property and equipment funded through accounts payable and accrued liabilities 1,816 1,781
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for amounts included in the measurement of operating lease liabilities 5,337 4,706
Cash paid for income taxes $ 1,125 $ 1,413