XML 16 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Net income $ 42,606 $ 33,316
Adjustments to reconcile net income to net cash provided byoperating activities:    
Depreciation and amortization 10,058 8,446
Loss on disposal of property, plant & equipment 7 108
Share-based compensation 4,787 3,450
Deferred income taxes 827 474
Change in fair value of contingent consideration 714 3,289
Changes in operating assets and liabilities:    
Receivables, net (2,893) (5,791)
Inventories (5,633) (16,267)
Prepaid expenses and other current assets (940) 377
Other assets (490) 1,255
Accounts payable 736 6,715
Accrued expenses (622) (4,272)
Deferred revenue (819) (865)
Income taxes payable (753) (2,161)
Non-qualified deferred compensation plan and other liabilities (5,416) 559
Net cash provided by operating activities 42,169 28,633
Cash flows from investing activities:    
Acquisition of Marble Medical, net of cash acquired (196,432) 0
Purchase of real estate (3,214) 0
Additions to property, plant, and equipment (6,649) (7,734)
Proceeds from sale of fixed assets 15 2
Net cash used in investing activities (206,280) (7,732)
us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract    
Proceeds from advances on revolving line of credit 115,200 9,000
Payments on revolving line of credit (28,200) (18,000)
Proceeds from borrowings of long-term debt 125,000 0
Principal payments of long-term debt (32,000) (3,000)
Payment of contingent consideration (188) (5,000)
Principal payments on finance lease obligations (58) (47)
Proceeds from the exercise of stock options 107 680
Payment of statutory withholdings for restricted stock units vested (4,751) (2,413)
Net cash used in financing activities 175,110 (18,780)
Effect of foreign currency exchange rates on cash and cash equivalents 94 (196)
Net increase in cash and cash equivalents 11,093 1,925
Cash and cash equivalents at beginning of period 5,263 4,451
Cash and cash equivalents at end of period $ 16,356 $ 6,376