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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 Income (Loss) $ 41,577 $ 185,959 $ 128,291
Adjustments to reconcile net income to net cash provided by operating activities:      
Inventory step-up charges 1,238 0 2,130
Depreciation and amortization 68,085 50,985 38,447
Amortization of debt discount and issuance costs 2,448 1,815 11,530
Stock-based compensation 25,575 27,316 27,500
Deferred income taxes, net 2,317 (1,352) 6,517
Contingent consideration (30,569) (28,729) 5,865
Non-cash interest income (2,023) 0 0
Loss on extinguishment of debt 12,676 0 0
Other 1,231 (100) 864
Changes in operating assets and liabilities, excluding impact of acquisitions:      
Accounts receivable (3,312) (3,596) (46,523)
Inventories 40,973 (57,204) (89,781)
Prepaid expenses and other assets (13,030) 2,396 (10,192)
Operating lease right of use assets 14,059 (24,549) (4,315)
Other assets (461) (231) 430
Accounts payable (9,803) (8,197) 19,523
Accrued expenses (27,921) (2,019) 23,196
Operating lease liability (9,229) 28,623 6,958
Long-term liabilities 87 966 (1,424)
Total cash provided by operating activities 113,918 172,083 119,016
Cash flows from investing activities:      
Purchase of marketable securities held to maturity 0 (100,000) 0
Redemption of marketable securities 102,323 0 0
Additions to capitalized software costs (2,766) (3,512) (4,187)
Acquisitions, net of cash acquired (186,642) 0 (149,893)
Purchases of property, plant and equipment (36,222) (84,834) (67,089)
Purchase of intellectual property 0 (45,000) 0
Other investing activities 32 110 0
Total cash used in investing activities (123,275) (233,236) (221,169)
Cash flows from financing activities:      
Repurchase of common stock (14,386) 0 0
Proceeds from issuance of 2023 Convertible Senior Notes 290,094 0 0
Proceeds from exercise of stock options 1,076 3,707 3,879
Payment of debt issuance costs (7,253) 0 0
Payment of tax withholding obligation on vesting of restricted stock (13,227) (17,018) (2,897)
Payment of earnout consideration (7,298) 0 0
Other financing activities (45) (26) (21)
Total cash provided by (used in) financing activities 248,961 (13,337) 961
Effect of exchange rate changes on cash and cash equivalents (11,739) (5,866) (12,286)
Net increase (decrease) in cash and cash equivalents 227,865 (80,356) (113,478)
Cash and cash equivalents, beginning of period 523,458 603,814 717,292
Cash and cash equivalents, end of period 751,323 523,458 603,814
Supplemental disclosure of cash flow information:      
Income taxes paid 26,963 34,365 16,515
Interest paid 988 1,033 1,066
Supplemental disclosure of non-cash investing and financing activities:      
Assets acquired under operating leases 4,335 29,126 85,312
Fair value of shares of common stock issued for acquisitions 13,569 0 82,968
Fair value of shares of common stock issued for contingent consideration earnouts 7,229 0 0
Acquisition date fair value of contingent consideration earnouts 6,640 0 88,373
Issuance of 2023 Notes in exchange of 2019 Notes 42,179 0 0
Extinguished 2019 Notes $ 29,634 $ 0 $ 0