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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (18,288) $ (15,905)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 7,226 6,933
Accretion of debt in interest expense, net 508 522
Accretion of discount on held to maturity investments in interest expense, net (397) 0
Current expected credit losses 564 489
Provision for obsolete inventory 108 88
Stock-based compensation 4,410 3,055
Adjustment to contingent consideration liability 0 (5,200)
Deferred income tax (8,049) 0
Changes in operating assets and liabilities:    
Accounts receivable (5,090) (7,034)
Inventories (1,605) 5,051
Other current assets (4,552) (2,512)
Other assets (724) 752
Accounts payable 9,521 4,063
Accrued salaries and benefits (5,160) (7,647)
Accrued expenses (3,376) 1,067
Customer deposits and deferred service revenue (945) (343)
Customers payable 2,388 216
Other long-term liabilities (115) (343)
Net cash used in operating activities (23,576) (16,748)
Cash flows from investing activities:    
Cash paid for acquisition, net of cash acquired (166,292) 0
Capital expenditures (45) (823)
Capitalization of software costs (1,385) (481)
Proceeds from sale of held to maturity investments 18,980 24,610
Purchases of held to maturity investments (3,119) (25,073)
Net cash used in investing activities (151,861) (1,767)
Cash flows from financing activities:    
Proceeds from private placement of common stock, net of issuance costs 194,490 0
Treasury stock acquired from employees upon vesting or forfeiture of restricted stock (4,838) (2,478)
Proceeds from exercise of stock options 1,105 52
Net cash provided by (used in) financing activities 190,757 (2,426)
Effect of exchange rate changes on cash and cash equivalents 479 (512)
Net increase (decrease) in cash and cash equivalents and cash held on behalf of customers 15,799 (21,453)
Cash and cash equivalents and cash held on behalf of customers at beginning of period 47,539 77,533
Cash and cash equivalents and cash held on behalf of customers at end of period 63,338 56,080
Reconciliation of cash and cash equivalents and cash held on behalf of customers    
Cash and cash equivalents 50,780 48,659
Cash held on behalf of customers 12,558 7,421
Total cash and cash equivalents and cash held on behalf of customers 63,338 56,080
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 340 507
Capitalized software recorded in accounts payable 24 776
Capital expenditures in accounts payable 176 87
Common stock issued for acquisition $ 19,170 $ 0