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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 16,148 $ 6,185
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,053 7,894
Non-cash interest expense 2,231 2,089
Stock-based compensation expense 6,283 4,893
Deferred tax expense 889 325
Other 3 1
Changes in operating assets and liabilities, excluding impact of acquisitions:    
Accounts receivable (7,317) (4,788)
Royalties and other receivables 114 60
Unbilled receivables 2,142  
Inventories (4,137) (3,096)
Prepaid expenses and other assets 114 (144)
Operating lease right of use assets 1,206  
Other assets (65) (1,241)
Accounts payable 495 (701)
Accrued expenses 1,642 (3,985)
Operating lease liability (1,216)  
Long-term liabilities (8) 43
Total cash provided by operating activities 27,577 7,535
Cash flows from investing activities:    
Acquisition of C Technologies, Inc., net of cash acquired (182,176)  
Additions to capitalized software costs (3,282)  
Purchases of property, plant and equipment (5,847) (4,412)
Total cash used in investing activities (191,305) (4,412)
Cash flows from financing activities:    
Exercise of stock options 566 1,490
Proceeds from issuance of common stock, net 189,623  
Repayment of senior convertible notes (17) (11)
Total cash provided by financing activities 190,172 1,479
Effect of exchange rate changes on cash, cash equivalents and restricted cash (2,449) (2,750)
Net increase in cash, cash equivalents and restricted cash 23,995 1,852
Cash, cash equivalents and restricted cash, beginning of period 193,822 173,759
Cash, cash equivalents and restricted cash, end of period 217,817 175,611
Supplemental disclosure of cash flow information:    
Income taxes paid 2,705 1,458
Supplemental disclosure of non-cash investing and financing activities:    
Fair value of common stock issued for acquisition of C Technologies, Inc. $ 53,938  
Non-cash effect of adoption of ASU 2016-16   $ 5,609