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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2019
Operating activities      
Net income (loss) $ 50,949 $ (3,774) $ (19,260)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 6,969 6,290 5,091
Change in fair value of earn-out liability 0 200 3,500
Stock compensation expense 6,947 5,660 6,508
Inventory adjustment to net realizable value 174 300 331
Provision for doubtful accounts 297 200 178
Deferred tax (benefit) expense (24,510) 106 136
Impairment of long-lived and other non-current assets 1,338 0 0
Loss (gain) on disposal of property and equipment 80 (29) (15)
Gain on disposal of lease assets (23) 0 0
Changes in operating assets and liabilities:      
Accounts receivable (843) 1,182 (2,012)
Inventory (7,035) (64) 3,948
Prepaid taxes and tax refund receivable (61) 878 (811)
Prepaid expenses and other assets (2,022) 1,375 1,554
Operating lease assets and liabilities (79) (187) 0
Accounts payable 18,554 6,907 1,191
Accrued expenses and other current liabilities 6,060 (8,198) 1,999
Distributions payable 0 (1,675) (453)
Deferred revenue 1,369 207 906
Payables to sellers 7,543 5,917 (8,716)
Other liabilities (290) 1,183 (317)
Net cash provided by (used in) operating activities 65,417 16,478 (6,242)
Investing activities      
Increase in intangibles (33) (62) (23)
Purchases of property and equipment, including capitalized software (5,419) (4,186) (5,938)
Proceeds from note receivable 4,343 2,824 0
Proceeds from sale of property and equipment 105 71 247
Purchase of short-term investments 0 (25,000) (70,000)
Maturities of short-term investments 0 55,000 60,000
Net cash (used in) provided by investing activities (1,004) 28,647 (15,714)
Financing activities      
Payments of the principal portion of finance lease liabilities (42) (34) 0
Proceeds from exercise of common stock options (net of tax) 445 111 590
Taxes paid associated with net settlement of stock compensation awards (3,915) (594) (44)
Payment of earn-out liability related to business acquisition 0 (1,200) 0
Common stock repurchases (31,143) (3,983) 0
Net cash (used in) provided by financing activities (34,655) (5,700) 546
Effect of exchange rate differences on cash and cash equivalents 541 114 (541)
Net increase (decrease) in cash and cash equivalents 30,299 39,539 (21,951)
Cash and cash equivalents at beginning of year 76,036 36,497 58,448
Cash and cash equivalents at end of year 106,335 76,036 36,497
Supplemental disclosure of cash flow information      
Cash paid (received for) for income taxes, net of refunds 1,442 (1,519) 1,008
Non-cash: Common stock surrendered in the exercise of stock options $ 1,502 $ 0 $ 0