XML 66 R7.htm IDEA: XBRL DOCUMENT v3.19.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 17,807 $ 10,979
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,791 11,775
Non-cash interest expense 4,863 3,160
Stock-based compensation expense 9,459 7,672
Deferred taxes (9,680) 472
Loss on extinguishment of debt 5,650  
Other 114 108
Changes in operating assets and liabilities, excluding impact of acquisitions:    
Accounts receivable (6,734) (1,583)
Royalties and other receivables 26 (149)
Unbilled receivables 2,047  
Inventories (4,891) (4,805)
Prepaid expenses and other assets (1,075) (1,437)
Operating lease right of use assets 787  
Other assets (66) (1,348)
Accounts payable (780) 3,354
Accrued expenses 7,263 (1,070)
Operating lease liability (607)  
Long-term liabilities 10,568 87
Total cash provided by operating activities 49,542 27,215
Cash flows from investing activities:    
Acquisition of C Technologies, Inc., net of cash acquired (182,154)  
Additions to capitalized software costs (4,630) (1,212)
Purchases of property, plant and equipment (11,413) (7,368)
Total cash used in investing activities (198,197) (8,580)
Cash flows from financing activities:    
Exercise of stock options 1,058 2,374
Payment of tax withholding obligation on vesting of restricted stock (290)  
Proceeds from issuance of convertible debt, net 278,555  
Proceeds from issuance of common stock, net 320,713  
Repayment of senior convertible notes (114,989) (11)
Total cash provided by financing activities 485,047 2,363
Effect of exchange rate changes on cash, cash equivalents and restricted cash (7,785) (4,453)
Net increase in cash, cash equivalents and restricted cash 328,607 16,545
Cash, cash equivalents and restricted cash, beginning of period 193,822 173,759
Cash, cash equivalents and restricted cash, end of period 522,429 190,304
Supplemental disclosure of cash flow information:    
Income taxes paid 4,206 3,120
Interest paid 1,484 1,222
Supplemental disclosure of non-cash investing and financing activities:    
Fair value of 2,316,229 shares of common stock issued for conversion of convertible notes 198,757  
Fair value of common stock issued for acquisition of C Technologies, Inc. $ 53,938  
Property, plant and equipment related to lease incentives   2,270
Non-cash effect of adoption of ASU 2016-16   $ 5,609