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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 9,099 $ 23,504
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation and amortization (including amortization of debt issuance costs) 6,888 6,030
Impairments 441 0
Stock-based compensation 10,421 8,958
Deferred income tax (3,311) 0
Non-cash lease expense 1,238 1,222
Unrealized foreign currency loss 636 0
Provision for inventory obsolescence 8,477 1,063
Other 473 0
Changes in operating assets and liabilities:    
Accounts receivable 44,416 76,729
Inventories 48,506 (29,127)
Prepaid expenses and other current assets 8,351 4,771
Other assets (466) (134)
Accounts payable (24,192) (49,688)
Accrued expenses and other current liabilities and other non-current liabilities (17,573) (26,845)
Operating lease liabilities (1,353) (1,185)
Deferred revenue 3,118 281
Net cash and cash equivalents provided by operating activities 95,169 15,579
Cash flows from investing activities:    
Acquisitions of property and equipment, including capitalized software development costs (7,741) (9,807)
Net cash and cash equivalents used in investing activities (7,741) (9,807)
Cash flows from financing activities:    
Repurchases of common stock (3,244) 0
Repurchase of compensatory units 0 (14)
Proceeds from exercise of stock options 55 31
Employee tax withholding payments on stock-based awards (1,358) (1,659)
Cash dividend (75,531) 0
Net cash and cash equivalents used in financing activities (80,078) (1,642)
Effect of exchange rate on changes on cash and cash equivalents 28 (28)
Net increase in cash and cash equivalents 7,378 4,102
Cash and cash equivalents at beginning of period 224,943 241,597
Cash and cash equivalents at end of period 232,321 245,699
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 0 0
Cash paid during the period for income taxes 115 532
Supplemental disclosures of non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new operating lease liabilities 0 3,579
Property and equipment included in accounts payable and accrued expenses and other current liabilities 2,027 5,056
Tax withholdings on stock-based awards included in accrued expenses and other current liabilities 190 559
Stock-based compensation capitalized for software development costs $ 430 $ 541