XML 25 R8.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 39,217 $ 83,994 $ 28,182
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 12,139 12,255 12,260
Asset impairment and related charges 12,036 0 0
Stock-based compensation 28,073 27,329 25,212
Foreign currency remeasurement 315 1,453 (2,685)
Deferred income taxes, net (16,436) (92,856) 4,894
Provision for excess and obsolete inventories 10,971 7,396 5,988
Gain on sale of investment in equity securities 0 0 (4,370)
Other adjustments 569 1,920 3,418
Changes in operating assets and liabilities:      
Accounts receivable, net (38,241) (32,695) (21,182)
Inventories 8,374 35,403 (54,431)
Other assets 3,199 25,483 (8,402)
Accounts payable (3,107) (29,358) 5,837
Deferred revenues (2,210) (20,823) 2,610
Other liabilities 7,018 (12,442) 8,145
Net cash provided by operating activities 61,917 7,059 5,476
Cash flows from investing activities:      
Purchases of investments 0 (6,305) 0
Proceeds from maturities of investments 0 6,305 0
Proceeds from sales of equity investments 0 0 7,962
Purchases of property and equipment (9,186) (8,475) (9,250)
Net cash used in investing activities (9,186) (8,475) (1,288)
Cash flows from financing activities:      
Proceeds from long-term debt 115,000 0 0
Repayment of convertible debt (115,500) 0 (37,707)
Payments for debt issuance costs (332) (1,025) 0
Proceeds from other borrowings 3,943 3,835 3,499
Repayment of other borrowings (5,447) (4,865) (4,583)
Repurchase of common stock (30,047) 0 (5,133)
Proceeds from common stock issued to employees 6,628 6,558 7,092
Taxes paid related to net share settlement of equity awards (7,514) (9,493) (6,301)
Net cash used in financing activities (33,269) (4,990) (43,133)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (1,942) 1,089 (4,900)
Net increase (decrease) in cash and cash equivalents and restricted cash 17,520 (5,317) (43,845)
Cash and cash equivalents and restricted cash, beginning of the year 84,269 89,586 133,431
Cash and cash equivalents and restricted cash, end of the year 101,789 84,269 89,586
Cash and cash equivalents and restricted cash at end of period      
Cash and cash equivalents 101,457 84,269 89,586
Restricted cash 332 0 0
Total cash, cash equivalents and restricted cash as shown in the consolidated statement of cash flows 101,789 84,269 89,586
Supplemental cash flow disclosure:      
Income tax payments, net 27,308 18,128 9,036
Interest payments, net 6,283 1,626 3,796
Supplemental schedule of non-cash investing activities:      
Capital expenditures incurred but not yet paid $ 488 $ 618 $ 1,075
Supplemental schedule of non-cash financing activities:      
Shares of common stock issued upon redemption of convertible debt (in shares) 4,578 0 3,882