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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 23,914 $ 19,647
Adjustments to reconcile net income to net cash and cash equivalents provided by (used in) operating activities:    
Depreciation and amortization (including amortization of debt issuance costs) 6,105 7,496
Bad debt expense (benefit) (1,903) 992
Stock-based compensation 10,450 10,757
Deferred income tax (4,798) (4,140)
Non-cash lease expense 904 1,272
Unrealized foreign currency (gain) loss (634) 605
Provision for inventory obsolescence, net (4,868) 563
Other 6 (739)
Changes in operating assets and liabilities:    
Accounts receivable 32,213 32,011
Inventories 4,877 20,849
Prepaid expenses and other current assets 8,662 8,497
Other assets (3,125) 259
Accounts payable 4,895 (31,096)
Accrued expenses, other current liabilities and other non-current liabilities (19,979) (12,280)
Operating lease liabilities (1,074) (1,403)
Deferred revenue 5,521 3,398
Net cash and cash equivalents provided by operating activities 61,166 56,688
Cash flows from investing activities:    
Purchases of marketable securities 0 (25,442)
Proceeds from maturities of marketable securities 0 25,440
Purchases of property and equipment, including capitalized software development costs (4,892) (5,117)
Net cash and cash equivalents used in investing activities (4,892) (5,119)
Cash flows from financing activities:    
Repurchases of common stock (12,000) (10,795)
Employee tax withholding payments on stock-based awards (2,924) (2,408)
Cash dividend (21,493) (1,439)
Net cash and cash equivalents used in financing activities (36,417) (14,642)
Effect of exchange rate on changes in cash and cash equivalents 144 (122)
Net increase in cash and cash equivalents 20,001 36,805
Cash and cash equivalents at beginning of period 232,140 142,187
Cash and cash equivalents at end of period 252,141 178,992
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 0 0
Cash paid during the period for income taxes 279 151
Supplemental disclosures of non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new operating lease liabilities 371 0
Property and equipment included in accounts payable and accrued expenses and other current liabilities 2,019 1,786
Tax withholdings on stock-based awards included in accrued expenses and other current liabilities 185 367
Stock-based compensation capitalized for software development costs 423 330
Dividends declared but unpaid $ 32 $ 831