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Restatement of Previously Issued Financial Statements | 9 Months Ended
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Sep. 30, 2023
Accounting Changes and Error Corrections [Abstract] |
Restatement of Previously Issued Financial Statements | 1. Restatement of Previously Issued Financial Statements Subsequent to the issuance of the Original Report on October 31, 2023, the Company identified a material accounting error related to the timing of revenue recognition which impacts the Company’s condensed consolidated financial statements as of and for the three and nine month periods ended September 30, 2023 ("the Misstatement"). Within this report, the Company has restated all impacted financial information and footnote disclosures impacted by the Misstatement. A description of the error and its impact on the previously issued financial statements is included below. In connection with the restatement, the Company determined that it was appropriate to revise the condensed consolidated balance sheet as of December 31, 2022 and the condensed consolidated statement of cash flows for the nine month period ended September 30, 2022, as well as impacted footnote disclosures, in this Form 10-Q/A to correct other unrelated immaterial errors. Description of revenue restatement adjustments During the first quarter of 2023, a customer cancelled two COVID-related, non-cancellable product purchase orders (“Cancelled PO’s”) in exchange for a $17.3 million one-time cash payment (the “Payment”), which was received in April 2023. At the time of cancellation, no product units had been delivered under the Cancelled PO’s and the Company had two other purchase orders from the same customer for the same product (“Open PO’s”). The Company originally accounted for the Cancelled PO’s as a single contract and recognized the $17.3 million payment as component of product revenue in the first quarter of 2023. Subsequent to the issuance of the Original Report, the Company reassessed the accounting treatment of the Payment and concluded that the Cancelled PO’s and Open PO’s represented a combined contract such that the February 2023 transaction should have been analyzed and accounted for as a contract modification, which required the Payment to be deferred and recognized as product units were delivered under the Open PO’s. All Open PO product units were fully delivered to the customer by June 30, 2024. The correction of the Misstatement affects certain financial statement line items in these condensed consolidated financial statements including but not limited to product revenues, income tax provision, foreign currency translation, deferred revenues, prepaid expenses, deferred taxes and earnings-per-share. Consolidated Financial Statements - Restatement Reconciliation Tables The following tables present the impact of the financial statement adjustments on the Company's previously reported condensed consolidated financial statements. The "Previously Reported" amounts in the following tables are amounts derived from the Original Report. The amounts in the columns labeled "Revenue Adjustments" represent the effect of adjustments resulting from the correction of the overstatement of revenues associated with the Payment and related tax impact. The amounts in the columns labeled "Other Adjustments" represent the effect of other adjustments that relate to other unrelated errors in previously filed financial statements that were not material, individually or in the aggregate, to those filed financial statements. The effects of both the restatement for the Revenue Adjustments and the immaterial Other Adjustments have been corrected in all impacted tables and footnotes throughout these condensed consolidated financial statements.
|  | September 30, |
|  | 2023 |
|  | As Previously Reported |  |  | Revenue Adjustments |  |  | Other Adjustments |  |  | As Restated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 630,779 |  |  | $ | — |  |  | $ | — |  |  | $ | 630,779 |
Marketable securities held to maturity |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Accounts receivable, net of reserves of $1,803 and $1,365 at September 30, 2023 and December 31, 2022, respectively |  |  | 106,158 |  |  |  | — |  |  |  | — |  |  |  | 106,158 |
Inventories, net |  |  | 211,372 |  |  |  | — |  |  |  | — |  |  |  | 211,372 |
Prepaid expenses and other current assets |  |  | 30,147 |  |  |  | 2,016 |  |  |  | — |  |  |  | 32,163 |
Total current assets |  |  | 978,456 |  |  |  | 2,016 |  |  |  | — |  |  |  | 980,472 |
Noncurrent assets: |  |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment, net |  |  | 201,618 |  |  |  | — |  |  |  | — |  |  |  | 201,618 |
Intangible assets, net |  |  | 343,729 |  |  |  | — |  |  |  | 6,589 |  |  |  | 350,318 |
Goodwill |  |  | 869,252 |  |  |  | — |  |  |  | — |  |  |  | 869,252 |
Deferred tax assets |  |  | 1,546 |  |  |  | — |  |  |  | — |  |  |  | 1,546 |
Operating lease right of use assets |  |  | 118,084 |  |  |  | — |  |  |  | — |  |  |  | 118,084 |
Other noncurrent assets |  |  | 1,444 |  |  |  | — |  |  |  | — |  |  |  | 1,444 |
Total noncurrent assets |  |  | 1,535,673 |  |  |  | — |  |  |  | 6,589 |  |  |  | 1,542,262 |
Total assets |  | $ | 2,514,129 |  |  | $ | 2,016 |  |  | $ | 6,589 |  |  | $ | 2,522,734 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 18,961 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,961 |
Operating lease liability |  |  | 3,315 |  |  |  | — |  |  |  | — |  |  |  | 3,315 |
Current contingent consideration |  |  | 12,589 |  |  |  | — |  |  |  | — |  |  |  | 12,589 |
Accrued liabilities |  |  | 42,543 |  |  |  | 15,575 |  |  |  | — |  |  |  | 58,118 |
Convertible Senior Notes, net |  |  | 285,956 |  |  |  | — |  |  |  | — |  |  |  | 285,956 |
Total current liabilities |  |  | 363,364 |  |  |  | 15,575 |  |  |  | — |  |  |  | 378,939 |
Noncurrent liabilities: |  |  |  |  |  |  |  |  | — |  |  |  |
Deferred tax liabilities |  |  | 14,036 |  |  |  | 667 |  |  |  | (179 | ) |  |  | 14,524 |
Noncurrent operating lease liability |  |  | 130,615 |  |  |  | — |  |  |  | — |  |  |  | 130,615 |
Noncurrent contingent consideration |  |  | 13,759 |  |  |  | — |  |  |  | — |  |  |  | 13,759 |
Other noncurrent liabilities |  |  | 3,798 |  |  |  | — |  |  |  | 7,356 |  |  |  | 11,154 |
Total noncurrent liabilities |  |  | 162,208 |  |  |  | 667 |  |  |  | 7,177 |  |  |  | 170,052 |
Total liabilities |  |  | 525,572 |  |  |  | 16,242 |  |  |  | 7,177 |  |  |  | 548,991 |
Commitments and contingencies (Note 11) |  |  |  |  |  |  |  |  |  |  |  |
Stockholders' equity: |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock, $0.01 par value, 5,000,000 shares authorized, no shares issued or outstanding |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Common stock, $0.01 par value; 80,000,000 shares authorized; 55,774,706 shares at September 30, 2023 and 55,557,698 shares at December 31, 2022 issued and outstanding |  |  | 558 |  |  |  | — |  |  |  | — |  |  |  | 558 |
Additional paid-in capital |  |  | 1,567,233 |  |  |  | — |  |  |  | — |  |  |  | 1,567,233 |
Accumulated other comprehensive loss |  |  | (43,571 | ) |  |  | 205 |  |  |  | — |  |  |  | (43,366 | )
Accumulated earnings |  |  | 464,337 |  |  |  | (14,431 | ) |  |  | (588 | ) |  |  | 449,318 |
Total stockholders’ equity |  |  | 1,988,557 |  |  |  | (14,226 | ) |  |  | (588 | ) |  |  | 1,973,743 |
Total liabilities and stockholders’ equity |  | $ | 2,514,129 |  |  | $ | 2,016 |  |  | $ | 6,589 |  |  | $ | 2,522,734 |
|  | December 31, |
|  | 2022 |
|  | As Previously Reported |  |  | Other Adjustments |  |  | As Revised |
ASSETS |  |  |  |  |  |  |  |  |
Intangible assets, net |  | $ | 353,676 |  |  | $ | 6,942 |  |  | $ | 360,618 |
Total noncurrent assets |  |  | 1,526,540 |  |  |  | 6,942 |  |  |  | 1,533,482 |
Total assets |  | $ | 2,524,658 |  |  | $ | 6,942 |  |  | $ | 2,531,600 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Other noncurrent liabilities |  | $ | 3,814 |  |  | $ | 6,942 |  |  | $ | 10,756 |
Total noncurrent liabilities |  |  | 209,762 |  |  |  | 6,942 |  |  |  | 216,704 |
Total liabilities |  |  | 613,958 |  |  |  | 6,942 |  |  |  | 620,900 |
Total liabilities and stockholders’ equity |  | $ | 2,524,658 |  |  | $ | 6,942 |  |  | $ | 2,531,600 |
|  | Three Months Ended September 30, 2023 |  |  | Nine Months Ended September 30, 2023 |
|  | As Previously Reported |  |  | Revenue Adjustments |  |  | Other Adjustments |  |  | As Restated |  |  | As Previously Reported |  |  | Revenue Adjustments |  |  | Other Adjustments |  |  | As Restated |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products |  | $ | 141,156 |  |  | $ | — |  |  | $ | — |  |  | $ | 141,156 |  |  | $ | 482,910 |  |  | $ | (17,280 | ) |  | $ | — |  |  | $ | 465,630 |
Royalty and other revenue |  |  | 36 |  |  |  | — |  |  |  | — |  |  |  | 36 |  |  |  | 111 |  |  |  | — |  |  |  | — |  |  |  | 111 |
Total revenue |  |  | 141,192 |  |  |  | — |  |  |  | — |  |  |  | 141,192 |  |  |  | 483,021 |  |  |  | (17,280 | ) |  |  | — |  |  |  | 465,741 |
Costs and operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of product revenue |  |  | 104,634 |  |  |  | — |  |  |  | — |  |  |  | 104,634 |  |  |  | 265,786 |  |  |  | — |  |  |  | — |  |  |  | 265,786 |
Research and development |  |  | 10,577 |  |  |  | — |  |  |  | — |  |  |  | 10,577 |  |  |  | 32,437 |  |  |  | — |  |  |  | — |  |  |  | 32,437 |
Selling, general and administrative |  |  | 55,465 |  |  |  | — |  |  |  | 117 |  |  |  | 55,582 |  |  |  | 160,601 |  |  |  | — |  |  |  | 353 |  |  |  | 160,954 |
Contingent consideration |  |  | (34,292 | ) |  |  | — |  |  |  | — |  |  |  | (34,292 | ) |  |  | (31,266 | ) |  |  | — |  |  |  | — |  |  |  | (31,266 | )
Total costs and operating expenses |  |  | 136,384 |  |  |  | — |  |  |  | 117 |  |  |  | 136,501 |  |  |  | 427,558 |  |  |  | — |  |  |  | 353 |  |  |  | 427,911 |
Income from operations |  |  | 4,808 |  |  |  | — |  |  |  | (117 | ) |  |  | 4,691 |  |  |  | 55,463 |  |  |  | (17,280 | ) |  |  | (353 | ) |  |  | 37,830 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment income |  |  | 6,662 |  |  |  | — |  |  |  | — |  |  |  | 6,662 |  |  |  | 18,112 |  |  |  | — |  |  |  | — |  |  |  | 18,112 |
Interest expense |  |  | (269 | ) |  |  | — |  |  |  | (139 | ) |  |  | (408 | ) |  |  | (813 | ) |  |  | — |  |  |  | (414 | ) |  |  | (1,227 | )
Amortization of debt issuance costs |  |  | (459 | ) |  |  | — |  |  |  | — |  |  |  | (459 | ) |  |  | (1,373 | ) |  |  | — |  |  |  | — |  |  |  | (1,373 | )
Other income (expenses) |  |  | 895 |  |  |  | — |  |  |  | — |  |  |  | 895 |  |  |  | 1,500 |  |  |  | — |  |  |  | — |  |  |  | 1,500 |
Other income (expenses), net |  |  | 6,829 |  |  |  | — |  |  |  | (139 | ) |  |  | 6,690 |  |  |  | 17,426 |  |  |  | — |  |  |  | (414 | ) |  |  | 17,012 |
Income before income taxes |  |  | 11,637 |  |  |  | — |  |  |  | (256 | ) |  |  | 11,381 |  |  |  | 72,889 |  |  |  | (17,280 | ) |  |  | (767 | ) |  |  | 54,842 |
Income tax (benefit) provision |  |  | (6,535 | ) |  |  | 1,053 |  |  |  | (60 | ) |  |  | (5,542 | ) |  |  | 5,824 |  |  |  | (2,849 | ) |  |  | (179 | ) |  |  | 2,796 |
Net income |  | $ | 18,172 |  |  | $ | (1,053 | ) |  | $ | (196 | ) |  | $ | 16,923 |  |  | $ | 67,065 |  |  | $ | (14,431 | ) |  | $ | (588 | ) |  | $ | 52,046 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.33 |  |  | $ | (0.02 | ) |  | $ | (0.01 | ) |  | $ | 0.30 |  |  | $ | 1.20 |  |  | $ | (0.26 | ) |  | $ | (0.01 | ) |  | $ | 0.93 |
Diluted (Note 13) |  | $ | 0.32 |  |  | $ | (0.02 | ) |  | $ | — |  |  | $ | 0.30 |  |  | $ | 1.18 |  |  | $ | (0.25 | ) |  | $ | (0.02 | ) |  | $ | 0.91 |
Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 55,766 |  |  |  | — |  |  |  | — |  |  |  | 55,766 |  |  |  | 55,688 |  |  |  | — |  |  |  | — |  |  |  | 55,688 |
Diluted (Note 13) |  |  | 56,940 |  |  |  | — |  |  |  | — |  |  |  | 56,940 |  |  |  | 56,933 |  |  |  | — |  |  |  | — |  |  |  | 56,933 |
Net income |  | $ | 18,172 |  |  | $ | (1,053 | ) |  | $ | (196 | ) |  | $ | 16,923 |  |  | $ | 67,065 |  |  | $ | (14,431 | ) |  | $ | (588 | ) |  | $ | 52,046 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  |  | (6,382 | ) |  |  | 502 |  |  |  | — |  |  |  | (5,880 | ) |  |  | (9,177 | ) |  |  | 205 |  |  |  | — |  |  |  | (8,972 | )
Comprehensive income |  | $ | 11,790 |  |  | $ | (551 | ) |  | $ | (196 | ) |  | $ | 11,043 |  |  | $ | 57,888 |  |  | $ | (14,226 | ) |  | $ | (588 | ) |  | $ | 43,074 |
|  | Accumulated Other Comprehensive Loss |  |  | Accumulated Earnings |  |  | Total Stockholders' Equity |
|  | As Previously Reported |  |  | Revenue Adjustments |  |  | Other Adjustments |  |  | As Restated |  |  | As Previously Reported |  |  | Revenue Adjustments |  |  | Other Adjustments |  |  | As Restated |  |  | As Previously Reported |  |  | Revenue Adjustments |  |  | Other Adjustments |  |  | As Restated |
|  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |
Balance at June 30, 2023 |  |  | (37,189 | ) |  |  | (297 | ) |  |  | — |  |  |  | (37,486 | ) |  |  | 446,165 |  |  |  | (13,378 | ) |  |  | (392 | ) |  |  | 432,395 |  |  |  | 1,970,926 |  |  |  | (13,675 | ) |  |  | (392 | ) |  |  | 1,956,859 |
Net income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 18,172 |  |  |  | (1,053 | ) |  |  | (196 | ) |  |  | 16,923 |  |  |  | 18,172 |  |  |  | (1,053 | ) |  |  | (196 | ) |  |  | 16,923 |
Translation adjustment |  |  | (6,382 | ) |  |  | 502 |  |  |  | — |  |  |  | (5,880 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (6,382 | ) |  |  | 502 |  |  |  | — |  |  |  | (5,880 | )
Balance at September 30, 2023 |  |  | (43,571 | ) |  |  | 205 |  |  |  | — |  |  |  | (43,366 | ) |  |  | 464,337 |  |  |  | (14,431 | ) |  |  | (588 | ) |  |  | 449,318 |  |  |  | 1,988,557 |  |  |  | (14,226 | ) |  |  | (588 | ) |  |  | 1,973,743 |
|  | Accumulated Other Comprehensive Loss |  |  | Accumulated Earnings |  |  | Total Stockholders' Equity |
|  | As Previously Reported |  |  | Revenue Adjustments |  |  | Other Adjustments |  |  | As Restated |  |  | As Previously Reported |  |  | Revenue Adjustments |  |  | Other Adjustments |  |  | As Restated |  |  | As Previously Reported |  |  | Revenue Adjustments |  |  | Other Adjustments |  |  | As Restated |
|  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |
Balance at December 31, 2022 |  |  | (34,394 | ) |  |  | — |  |  |  | — |  |  |  | (34,394 | ) |  |  | 397,272 |  |  |  | — |  |  |  | — |  |  |  | 397,272 |  |  |  | 1,910,700 |  |  |  | — |  |  |  | — |  |  |  | 1,910,700 |
Net income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 67,065 |  |  |  | (14,431 | ) |  |  | (588 | ) |  |  | 52,046 |  |  |  | 67,065 |  |  |  | (14,431 | ) |  |  | (588 | ) |  |  | 52,046 |
Translation adjustment |  |  | (9,177 | ) |  |  | 205 |  |  |  | — |  |  |  | (8,972 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (9,177 | ) |  |  | 205 |  |  |  | — |  |  |  | (8,972 | )
Balance at September 30, 2023 |  |  | (43,571 | ) |  |  | 205 |  |  |  | — |  |  |  | (43,366 | ) |  |  | 464,337 |  |  |  | (14,431 | ) |  |  | (588 | ) |  |  | 449,318 |  |  |  | 1,988,557 |  |  |  | (14,226 | ) |  |  | (588 | ) |  |  | 1,973,743 |
|  | Nine Months Ended September 30, 2023 |
|  | As Previously Reported |  |  | Revenue Adjustments |  |  | Other Adjustments |  |  | As Restated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 67,065 |  |  | $ | (14,431 | ) |  | $ | (588 | ) |  | $ | 52,046 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 50,942 |  |  |  | — |  |  |  | 353 |  |  |  | 51,295 |
Amortization of debt issuance costs |  |  | 1,373 |  |  |  | — |  |  |  | — |  |  |  | 1,373 |
Stock-based compensation |  |  | 19,110 |  |  |  | — |  |  |  | — |  |  |  | 19,110 |
Deferred income taxes, net |  |  | (9,756 | ) |  |  | 667 |  |  |  | (179 | ) |  |  | (9,268 | )
Contingent consideration |  |  | (31,266 | ) |  |  | — |  |  |  | — |  |  |  | (31,266 | )
Non-cash interest income |  |  | (2,023 | ) |  |  | — |  |  |  | — |  |  |  | (2,023 | )
Operating lease right of use asset amortization |  |  | 10,203 |  |  |  | — |  |  |  | — |  |  |  | 10,203 |
Other |  |  | 861 |  |  |  | — |  |  |  | 414 |  |  |  | 1,275 |
Changes in operating assets and liabilities, excluding impact of acquisitions: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  |  | 8,315 |  |  |  | — |  |  |  | — |  |  |  | 8,315 |
Inventories |  |  | 25,979 |  |  |  | — |  |  |  | — |  |  |  | 25,979 |
Prepaid expenses and other assets |  |  | (10,733 | ) |  |  | (2,016 | ) |  |  | — |  |  |  | (12,749 | )
Other assets |  |  | (707 | ) |  |  | — |  |  |  | — |  |  |  | (707 | )
Accounts payable |  |  | (8,619 | ) |  |  | — |  |  |  | — |  |  |  | (8,619 | )
Accrued expenses |  |  | (28,294 | ) |  |  | 15,780 |  |  |  | — |  |  |  | (12,514 | )
Operating lease liabilities |  |  | (7,676 | ) |  |  | — |  |  |  | — |  |  |  | (7,676 | )
Long-term liabilities |  |  | 79 |  |  |  | — |  |  |  | — |  |  |  | 79 |
Total cash provided by operating activities |  |  | 84,853 |  |  |  | — |  |  |  | — |  |  |  | 84,853 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Acquisitions, net of cash acquired |  |  | (27,843 | ) |  |  | — |  |  |  | — |  |  |  | (27,843 | )
Proceeds from maturity of marketable securities held to maturity |  |  | 102,323 |  |  |  | — |  |  |  | — |  |  |  | 102,323 |
Additions to capitalized software costs |  |  | (2,736 | ) |  |  | — |  |  |  | — |  |  |  | (2,736 | )
Purchases of property, plant and equipment |  |  | (25,135 | ) |  |  | — |  |  |  | — |  |  |  | (25,135 | )
Purchase of intellectual property |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other investing activities |  |  | 21 |  |  |  | — |  |  |  | — |  |  |  | 21 |
Total cash provided by (used in) investing activities |  |  | 46,630 |  |  |  | — |  |  |  | — |  |  |  | 46,630 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from exercise of stock options |  |  | 356 |  |  |  | — |  |  |  | — |  |  |  | 356 |
Payment of tax withholding obligation on vesting of restricted stock |  |  | (12,178 | ) |  |  | — |  |  |  | — |  |  |  | (12,178 | )
Repayment of Convertible Senior Notes |  |  | (33 | ) |  |  | — |  |  |  | — |  |  |  | (33 | )
Payment of earnout consideration |  |  | (7,298 | ) |  |  | — |  |  |  | — |  |  |  | (7,298 | )
Proceeds from issuance of common stock, net |  |  | (13 | ) |  |  | — |  |  |  | — |  |  |  | (13 | )
Total cash used in financing activities |  |  | (19,166 | ) |  |  | — |  |  |  | — |  |  |  | (19,166 | )
Effect of exchange rate changes on cash and cash equivalents |  |  | (4,996 | ) |  |  | — |  |  |  | — |  |  |  | (4,996 | )
Net increase (decrease) in cash and cash equivalents |  |  | 107,321 |  |  |  | — |  |  |  | — |  |  |  | 107,321 |
Cash, cash equivalents and restricted cash, beginning of period |  |  | 523,458 |  |  |  | — |  |  |  | — |  |  |  | 523,458 |
Cash and cash equivalents, end of period |  | $ | 630,779 |  |  | $ | — |  |  | $ | — |  |  | $ | 630,779 |
Supplemental disclosure of non-cash investing and financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Assets acquired under operating leases |  | $ | 1,129 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,129 |
Fair value of 31,415 shares of common stock issued for the acquisition of FlexBiosys, Inc. |  | $ | 5,465 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,465 |
Fair value of 42,621 shares of common stock issued for the Avitide, Inc. contingent consideration earnout |  | $ | 7,229 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,229 |
|  | Nine Months Ended September 30, 2022 |
|  | As Previously Reported |  |  | Other Adjustments |  |  | As Revised |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |
Operating lease right of use asset amortization |  | $ | (22,033 | ) |  | $ | 27,705 |  |  | $ | 5,672 |
Changes in operating assets and liabilities, excluding impact of acquisitions: |  |  |  |  |  |  |  |  |
Operating lease liabilities |  | $ | 26,157 |  |  | $ | (27,705 | ) |  | $ | (1,548 | )
Total cash provided by operating activities |  | $ | 110,201 |  |  | $ | — |  |  | $ | 110,201 |

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- Definition The entire disclosure for reporting error correction. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-7 + Details
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