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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 49,775 $ 128,549
Adjustments to reconcile net income to net cash and cash equivalents provided by (used in) operating activities:    
Depreciation and amortization (including amortization of debt issuance costs) 19,841 13,365
Stock-based compensation 30,630 27,941
Non-cash lease expense 3,620 3,061
Provision for inventory obsolescence 6,197 2,283
Other 218 1,229
Changes in operating assets and liabilities:    
Accounts receivable 111,600 18,579
Inventories (60,844) (276,223)
Prepaid expenses and other current assets (897) (25,578)
Other assets (309) 675
Accounts payable (132,011) (1,603)
Accrued expenses and other current liabilities and other non-current liabilities (21,506) (24,169)
Operating lease liabilities (3,176) (3,466)
Deferred revenue (2,508) 3,564
Net cash and cash equivalents provided by (used in) operating activities 630 (131,793)
Cash flows from investing activities:    
Purchases of marketable securities (180,112) 0
Proceeds from maturities of marketable securities 21,393 0
Proceeds from sales of marketable securities 84,621 0
Acquisitions of property and equipment, including capitalized software development costs (26,913) (28,339)
Net cash and cash equivalents used in investing activities (101,011) (28,339)
Cash flows from financing activities:    
Proceeds from capital contributions 0 200
Proceeds from issuance of common stock upon initial public offering, net of offering costs 0 262,007
Repurchases of common stock (9,970) 0
Repurchase of compensatory units (14) (170)
Proceeds from exercise of stock options 31 108
Employee tax withholding payments on stock-based awards (5,401) (107)
Payments for debt issuance costs (1,300) 0
Other financing activities, net 0 (48)
Net cash and cash equivalents (used in) provided by financing activities (16,654) 261,990
Effect of exchange rate on changes on cash and cash equivalents (380) (70)
Net increase (decrease) in cash and cash equivalents (117,415) 101,788
Cash and cash equivalents at beginning of period 241,597 122,215
Cash and cash equivalents at end of period 124,182 224,003
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 0 14
Cash paid during the period for income taxes 17,966 66,868
Supplemental disclosures of non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new operating lease liabilities 4,264 3,585
Property and equipment included in accounts payable and accrued expenses and other current liabilities 2,967 4,910
Tax withholdings on stock-based awards included in accrued expenses and other current liabilities 575 344
Stock-based compensation capitalized for software development costs 1,815 1,149
Reclassification of liability awards to equity upon modification 0 10,784
Leasehold improvements acquired through tenant allowances $ 859 $ 0