XML 22 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2019
Operating activities:      
Net income $ 10,366 $ 8,411 $ 9,958
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of property, equipment and improvements 4,343 4,545 4,578
Amortization of identifiable intangible assets 16,534 14,754 8,818
Stock-based compensation 8,135 7,237 5,655
Deferred income tax provision (4,598) (3,357) (799)
Loss (gain) on sale of property, equipment and improvements 89 0 (4,392)
Change in fair value of contingent consideration 5,772 (128) 1,190
Provision for bad debt and product returns 2,290 2,135 635
Provision for inventory obsolescence 1,200 2,630 1,874
Other, net 42 366 (156)
Changes in operating assets and liabilities (net of acquisitions):      
Accounts receivable 11,467 5,539 (6,589)
Inventories 4,679 (11,133) (1,062)
Other assets (1,657) (704) (866)
Income taxes 165 (1,100) (103)
Accounts payable (5,578) 3,205 8,232
Accrued expenses 4,474 2,078 1,991
Net cash provided by operating activities 57,723 34,478 28,964
Investing activities:      
Proceeds from maturities of marketable securities 0 0 4,750
Acquisition of businesses, net of cash acquired (19,108) (136,098) 0
Proceeds from sale of property, equipment and improvements 0 0 10,096
Purchase of property, equipment, improvements and certain other intangible assets (2,257) (899) (9,335)
Net cash (used in) provided by investing activities (21,365) (136,997) 5,511
Financing activities:      
Proceeds from long-term debt 617 119,018 0
Payments on long-term debt (15,624) (55,893) 0
Acquisition earn-out payments (4,200) (4,698) (3,748)
Proceeds from issuances of stock, net of offering expenses 73,830 0  
Proceeds from stock option plan transactions 8,525 5,902 4,874
Proceeds from employee stock purchase plan transactions 1,214 1,065 1,058
Taxes paid for net share settlement of share-based payment awards (2,120) (1,791) (1,071)
Net cash provided by financing activities 62,242 63,603 1,113
Effect of exchange rate changes on cash and cash equivalents (297) 253 (810)
Net increase (decrease) in cash and cash equivalents 98,303 (38,663) 34,778
Cash and cash equivalents, beginning of period 54,129 92,792 58,014
Cash and cash equivalents, end of period 152,432 54,129 92,792
Supplemental disclosures of cash flow information:      
Interest paid 917 3,009 1
Income taxes paid, net 3,684 3,686 2,048
Supplemental schedule of non-cash investing and financing activities:      
Accrual for property, equipment, improvements and certain other intangibles assets (98) (26) 0
Tenant improvement allowance 1,000 0 0
Transfer of inventory to property, equipment and improvements (1,838) (1,363) (1,064)
Term debt refinanced as credit facility (6,200) (5,100) 0
Term debt refinanced as credit facility $ 50,000 $ 0 $ 0