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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Net income (loss) $ 137,240 $ 4,432 $ (50,403)
Adjustments to net income (loss):      
Provision for (recovery of) bad debts 2,527 2,599 (467)
Deferred tax benefit (8,862) (31,565) (10,102)
Depreciation and amortization 40,268 86,501 11,388
Amortization of developed technology 14,558 14,558 14,558
Amortization of debt discount and issuance costs 10,570 6,857 15,036
Gain on debt refinancing (457) 0 0
Equity-based compensation 14,540 14,982 13,757
Contingent consideration 2,964 (4,507) 2,696
Warranty provision 4,666 4,152 516
Write-down of inventories 6,431 (859) 990
Changes in operating assets and liabilities, net of business acquisition:      
Accounts receivable 92,800 (76,984) (116,848)
Inventories 66,743 20,870 (88,184)
Income tax receivables 9 5,611 8,106
Prepaid expenses and other (10,840) 19,124 (21,226)
Accounts payable (37,654) 12,667 7,015
Accrued expenses and other 5,325 1,024 9,133
Income tax payable 1,936 (755) (8,754)
Lease liabilities 1,177 3,784 221
Deferred revenue (111,986) 59,002 (50,619)
Net cash provided by (used in) operating activities 231,955 141,493 (263,187)
Investing activities:      
Purchase of property, plant and equipment (16,989) (10,619) (3,357)
Retirement/disposal of PP&E 168 0 0
Acquisition of STI, net of cash acquired 0 (373,818) 0
Investment in equity securities 0 0 (11,975)
Net cash used in investing activities (16,821) (384,437) (15,332)
Financing activities:      
Proceeds from Series A issuance 0 33,098 224,987
Proceeds from common stock issuance 0 15,885 120,645
Series A equity issuance costs and commitment fees (1,509) (1,893) (7,195)
Common stock issuance costs 0 (450) (3,873)
Dividends paid on Series A Preferred 0 (18,670) (8,051)
Payments on revolving credit facility 0 (116,000) (126,033)
Proceeds from revolving credit facility 0 116,000 126,033
Proceeds from issuance of other debt 63,311 20,188 0
Proceeds from issuance of convertible notes 0 0 413,321
Premium paid on capped call 0 0 (52,870)
Fees paid on issuance of convertible notes 0 0 (1,591)
Principal payments on term loan facility (74,300) (14,300) 0
Principal payments on other debt (88,063) (23,935) (133,225)
Contingent consideration payments (1,200) (1,483) (7,810)
Debt issuance costs 0 0 (6,590)
Net cash (used in) provided by financing activities (101,761) 8,440 537,748
Effect of exchange rate changes on cash and cash equivalent balances 1,806 735 0
Net change in cash and cash equivalents 115,179 (233,769) 259,229
Cash and cash equivalents, beginning of period 133,901 367,670 108,441
Cash and cash equivalents, end of period 249,080 133,901 367,670
Supplemental Cash Flow Information      
Cash paid for interest 43,949 23,118 24,306
Cash paid for income taxes 45,942 10,739 13,318
Non-cash Investing and Financing Activities      
Dividends accrued on Series A Preferred 26,370 6,389 0
Stock consideration paid for acquisition of STI $ 0 $ 200,224 $ 0