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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 2,838 $ 5,793  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 3,508 2,761  
Non-cash operating lease cost 405 340  
Goodwill impairment 0 18,144 $ 42,500
Change in fair value of contingent consideration (4,820) (24,522)  
Loss on disposal of fixed assets 831 0  
Loss on impairment of intangible asset 0 318  
Stock-based compensation expense 2,259 (207)  
Deferred income taxes (1,162) 550  
Recovery for doubtful accounts (21) (15)  
Provision for inventory 277 831  
Amortization of acquisition related inventory step-up 2,578 2,081  
Changes in operating assets and liabilities:      
Accounts receivable (2,478) 2,004  
Inventories (4,040) (3,632)  
Prepaid expenses, other current and long-term assets 87 (445)  
Accounts payable 188 421  
Operating lease liabilities (385) (310)  
Accrued expenses, other current and long-term liabilities (1,254) (3,233)  
Income taxes (1,242) 166  
Net cash (used in) provided by operating activities (2,431) 1,045  
Cash flows from investing activities:      
Acquisition of Parcus Medical and Arthrosurface, net of cash acquired (350) (92,983)  
Proceeds from maturities of investments 2,501 14,990  
Purchases of investments 0 (13,787)  
Purchases of property and equipment (417) (723)  
Net cash provided by (used in) investing activities 1,734 (92,503)  
Cash flows from financing activities:      
Cash paid for tax withheld on vested restricted stock awards (332) (141)  
Payments made on finance leases (119) 0  
Net cash used in financing activities (451) (141)  
Exchange rate impact on cash (70) (31)  
Decrease in cash and cash equivalents (1,218) (91,630)  
Cash and cash equivalents at beginning of period 95,817 157,463 157,463
Cash and cash equivalents at end of period 94,599 65,833 $ 95,817
Non-cash Investing Activities:      
Purchases of property and equipment included in accounts payable and accrued expenses 570 55  
Right of use assets 220 0  
Consideration for acquisitions included in accounts payable and accrued expenses 0 2,085  
Acquisition related contingent consideration 0 69,076  
Operating lease liabilities $ 220 $ 0