XML 17 R7.htm IDEA: XBRL DOCUMENT v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities    
Net income $ 19,260 $ 9,308
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 25,874 24,829
Loss on disposal of property and equipment 399 0
Share-based compensation expense 16,670 13,766
Deferred income taxes 3,810 (6,655)
Amortization of operating lease right-of-use assets 5,226 0
Amortization of debt financing fees 1,145 1,145
Changes in operating assets and liabilities:    
Accounts receivable and unbilled receivables (9,244) 15,476
Inventories (4,466) (9,789)
Prepaid expenses 1,021 2,126
Other current assets (830) (2,283)
Investment in sales-type leases (4,412) (1,838)
Prepaid commissions 1,536 2,812
Other long-term assets 3,061 (2,797)
Accounts payable 2,066 (12,229)
Accrued compensation (8,041) 3,927
Accrued liabilities 1,810 (2,574)
Deferred revenues 253 5,336
Operating lease liabilities (5,269) 0
Other long-term liabilities 3,891 167
Net cash provided by operating activities 53,760 40,727
Investing Activities    
Software development for external use (22,581) (13,091)
Purchases of property and equipment (9,369) (14,985)
Net cash used in investing activities (31,950) (28,076)
Financing Activities    
Repayment of debt and revolving credit facility (60,000) (12,500)
At the market offering, net of offering costs 37,806 0
Proceeds from stock issuances under stock-based compensation plans 25,333 16,117
Employees’ taxes paid related to restricted stock units (4,722) (3,062)
Net cash (used in) provided by financing activities (1,583) 555
Effect of exchange rate changes on cash and cash equivalents 63 538
Net increase in cash and cash equivalents 20,290 13,744
Cash and cash equivalents at beginning of period 67,192 32,424
Cash and cash equivalents at end of period 87,482 46,168
Supplemental disclosure of non-cash activities    
Unpaid purchases of property and equipment 711 892
Transfers between inventory and property and equipment, net 1,428 2,194
Right-of-use assets obtained in exchange for new operating lease liabilities $ 557 $ 0