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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 $ 83,994 $ 28,182 $ 13,254
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 12,255 12,260 12,546
Amortization of intangibles 0 0 507
Stock-based compensation 27,329 25,212 24,056
Amortization of convertible debt discount 899 1,171 6,308
Amortization of warrant 870 1,734 1,741
Foreign currency remeasurement 1,453 (2,685) (5,126)
Deferred income taxes, net (92,856) 4,894 (6,197)
Provision for expected credit losses and returns 2,778 1,954 4,142
Provision for excess and obsolete inventories 7,396 5,988 3,460
Gain on sale of investment in equity securities 0 (4,370) 0
Other adjustments 151 513 181
Changes in operating assets and liabilities:      
Accounts receivable (35,473) (23,136) (26,722)
Inventories 35,403 (54,431) (39,338)
Other assets 25,483 (8,402) (3,096)
Accounts payable (29,358) 5,837 42,303
Deferred revenues (20,823) 2,610 15,014
Other liabilities (12,442) 8,145 (2,016)
Net cash provided by operating activities 7,059 5,476 41,017
Cash flows from investing activities:      
Purchases of investments (6,305) 0 0
Proceeds from maturities of investments 6,305 0 0
Proceeds from sales of equity investments 0 7,962 0
Purchases of property and equipment (8,475) (9,250) (12,975)
Net cash used in investing activities (8,475) (1,288) (12,975)
Cash flows from financing activities:      
Payment of convertible debt 0 (37,707) 0
Payments for debt issuance costs (1,025) 0 0
Proceeds from other debts 3,835 3,499 3,861
Repayment of other debts (4,865) (4,583) (6,169)
Repurchase of common stock 0 (5,133) 0
Proceeds from common stock issued to employees 6,558 7,092 12,311
Taxes paid related to net share settlement of equity awards (9,493) (6,301) (2,064)
Net cash provided by (used in) financing activities (4,990) (43,133) 7,939
Effect of exchange rate changes on cash and cash equivalents 1,089 (4,900) (1,195)
Net increase (decrease) in cash and cash equivalents (5,317) (43,845) 34,786
Cash and cash equivalents, beginning of the year 89,586 133,431 98,645
Cash and cash equivalents, end of the year 84,269 89,586 133,431
Supplemental disclosure of cash flow information:      
Income tax payments, net 18,128 9,036 2,525
Interest payments, net 1,626 3,796 4,095
Supplemental schedule of non-cash investing and financing activities:      
Capital expenditures incurred but not yet paid $ 618 $ 1,075 $ 751