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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 128,549 $ 93,130
Adjustments to reconcile net income to net cash and cash equivalents (used in) provided by operating activities:    
Depreciation and amortization (including amortization of debt issuance costs) 13,365 10,136
Stock-based compensation 27,941 4,961
Gain on disposal of property and equipment (2) 0
Provision for inventory obsolescence 2,283 2,186
Provision for doubtful accounts 1,231 469
Loss on extinguishment of debt 0 162
Changes in operating assets and liabilities:    
Accounts receivable 18,579 (41,374)
Inventories (276,223) 4,404
Prepaid expenses and other current assets (25,578) (1,036)
Other assets 675 (637)
Accounts payable (1,603) 96,434
Accrued expenses and other current liabilities and other non-current liabilities (24,574) 13,244
Deferred revenue 3,564 5,324
Net cash and cash equivalents (used in) provided by operating activities (131,793) 187,403
Cash flows from investing activities:    
Acquisitions of property and equipment, including costs capitalized for development of internal use software (28,339) (16,883)
Net cash and cash equivalents (used in) provided by investing activities (28,339) (16,883)
Cash flows from financing activities:    
Proceeds from capital contributions 200 1,087
Proceeds from issuance of common stock upon initial public offering, net of offering costs 262,007 0
Repurchase of compensatory units (170) (3,038)
Proceeds from exercise of stock options 108 0
Tax withholding on stock-based awards (107) 0
Payments on term loan 0 (22,917)
Drawdowns on revolving loan 0 228,269
Payments on revolving loan 0 (260,862)
Payments for debt issuance costs 0 (795)
Cash dividend 0 (51,202)
Other financing activities, net (48) (169)
Net cash and cash equivalents (used in) provided by financing activities 261,990 (109,627)
Effect of exchange rate on changes on cash and cash equivalents (70) (39)
Net increase in cash and cash equivalents 101,788 60,854
Cash and cash equivalents at beginning of period 122,215 6,653
Cash and cash equivalents at end of period 224,003 67,507
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 14 1,305
Cash paid during the period for income taxes 66,868 25,091
Supplemental disclosures of non-cash investing and financing activities:    
Property and equipment included in accounts payable and accrued expenses and other current liabilities 4,910 788
Tax withholdings on stock-based awards included in accrued expenses and other current liabilities 344 0
Stock-based compensation capitalized for software development costs 1,149 181
Deferred offering costs in accounts payable and accrued expenses and other current liabilities 0 500
Reclassification of liability awards to equity upon modification $ 10,784 $ 0