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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 140,473 $ 154,578 $ 39,211
Adjustments to reconcile net income to net cash and cash equivalents (used in) provided by operating activities:      
Depreciation and amortization (including amortization of debt issuance costs) 19,388 14,116 9,178
Impairment of trade name 0 0 747
Stock-based compensation 38,074 9,484 1,845
Deferred income tax (135) (2,463) (1,257)
Non-cash lease expense 4,186 0 0
(Gain) loss on disposal of property and equipment (2) 0 16
Provision for inventory obsolescence 5,070 2,802 5,193
Provision for doubtful accounts 1,096 128 699
Loss on extinguishment of debt 0 162 0
Changes in operating assets and liabilities:      
Accounts receivable (37,673) (97,625) (4,876)
Inventories (207,978) (37,979) (73,233)
Prepaid expenses and other current assets (27,942) (2,991) 4,550
Other assets (934) (450) (79)
Accounts payable (46,667) 157,023 10,340
Accrued expenses and other current liabilities and other non-current liabilities 3,639 39,732 7,454
Operating lease liabilities (4,672) 0 0
Deferred revenue 9,128 11,710 4,073
Net cash and cash equivalents (used in) provided by operating activities (104,949) 248,227 3,861
Cash flows from investing activities:      
Acquisitions of property and equipment, including capitalized software development costs (35,786) (21,842) (14,095)
Net cash and cash equivalents used in investing activities (35,786) (21,842) (14,095)
Cash flows from financing activities:      
Proceeds from capital contributions 200 1,088 1,296
Proceeds from issuance of common stock upon initial public offering, net of offering costs 262,007 0 0
Repurchase of compensatory units (170) (3,038) (728)
Proceeds from exercise of stock options 272 0 0
Employee tax withholding payments on stock-based awards (2,017) 0 0
Payments on term loan 0 (22,917) (4,417)
Drawdowns on revolving loan 0 228,269 502,730
Payments on revolving loan 0 (260,862) (487,755)
Payments on capital leases 0 (81) (127)
Payments for debt issuance costs 0 (854) (103)
Cash dividend 0 (51,202) 0
Other financing activities, net (48) (1,318) 0
Net cash and cash equivalents (used in) provided by financing activities 260,244 (110,915) 10,896
Effect of exchange rate on changes on cash and cash equivalents (127) 92 (25)
Net increase in cash and cash equivalents 119,382 115,562 637
Cash and cash equivalents at beginning of period 122,215 6,653 6,016
Cash and cash equivalents at end of period 241,597 122,215 6,653
Supplemental disclosures of cash flow information:      
Cash paid during the period for interest 14 1,306 3,301
Cash paid during the period for income taxes 81,132 42,315 6,652
Supplemental disclosures of non-cash investing and financing activities:      
Right-of-use assets obtained in exchange for new operating lease liabilities 6,805 0 0
Refinance of credit facility 0 0 11,667
Property and equipment included in accounts payable and accrued expenses and other current liabilities 3,355 2,585 4,245
Tax withholdings on stock-based awards included in accrued expenses and other current liabilities 860 0 0
Stock-based compensation capitalized for software development costs 1,607 253 85
Deferred offering costs in accounts payable and accrued expenses and other current liabilities 0 623 0
Reclassification of liability awards to equity upon modification 10,784 0 0
Leasehold improvements acquired through tenant allowances 0 936 0
Purchased unit equivalents issued in settlement of bonus $ 0 $ 1,364 $ 0