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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net loss $ (69,752) $ (69,319) $ (75,799)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 27,481 26,095 21,421
Accretion of debt in interest expense 2,205 1,997 8,725
Accretion of discount on held to maturity investments in interest expense, net (1,886) 0 0
Current expected credit losses 579 1,204 1,290
Provision for obsolete inventory (1,915) 69 103
Stock-based compensation 14,427 13,426 14,615
Impairment loss 0 1,301 0
Loss on debt extinguishment 635 0 11,916
Adjustment to contingent consideration liability (9,200) (4,400) 0
Deferred income tax 197 (373) (10,417)
Changes in operating assets and liabilities:      
Accounts receivable (4,155) (11,240) 1,832
Inventories 16,012 (2,777) (13,547)
Other current assets (348) 949 (3,995)
Other assets (1,602) (5,052) (4,001)
Accounts payable 6,309 2,191 4,911
Accrued salaries and benefits 168 1,361 (270)
Accrued expenses 3,395 1,012 (6,096)
Customer deposits and deferred service revenue (2,179) (5,851) (1,710)
Customers payable 2,966 7,205 0
Other long-term liabilities (412) (868) (2,134)
Net cash used in operating activities (17,075) (43,070) (53,156)
Cash flows from investing activities:      
Cash paid for acquisition, net of cash acquired (1,900) (18,797) (374,705)
Capital expenditures (5,517) (1,178) (1,435)
Capitalization of software costs (5,346) (6,445) (6,852)
Proceeds from sale of held to maturity investments 85,978 24,243 0
Purchases of held to maturity investments (80,996) (64,533) 0
Net cash used in investing activities (7,781) (66,710) (382,992)
Cash flows from financing activities:      
Principal payments of long-term debt 0 (705) (4,174)
Payments for the extinguishment of notes payable 0 0 (183,618)
Proceeds from common stock issuance 0 0 215,000
Payments for common stock issuance costs 0 0 (6,828)
Proceeds from debt issuance, net of original issue discount 0 0 441,385
Payments for debt issuance costs 0 0 (13,998)
Treasury stock acquired from employees upon vesting or forfeiture of restricted stock (2,685) (3,148) (5,315)
Proceeds from exercise of stock options 1,069 1,286 1,156
Net cash (used in) provided by financing activities (1,616) (2,567) 443,608
Effect of exchange rate changes on cash and cash equivalents (3,522) 1,461 273
Net (decrease) increase in cash, cash equivalents, and cash held on behalf of customers (29,994) (110,886) 7,733
Cash, cash equivalents, and cash held on behalf of customers at beginning of period 77,533 188,419 180,686
Cash, cash equivalents, and cash held on behalf of customers at end of period 47,539 77,533 188,419
Reconciliation of cash, cash equivalents, and cash held on behalf of customers      
Cash and cash equivalents 37,369 70,328 188,419
Cash held on behalf of customers 10,170 7,205 0
Total cash, cash equivalents, and cash held on behalf of customers 47,539 77,533 188,419
Supplemental disclosures of cash flow information:      
Income taxes 3,223 1,285 0
Capitalized software recorded in accounts payable 38 27 48
Capital expenditures in accounts payable 139 75 26
Tax withholding in accrued salaries and benefits related to treasury stock acquired from employees 0 0 643
Common stock issued for acquisition $ 0 $ 6,300 $ 110,219