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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) $ 23,504 $ (5,928) $ (3,033)
Adjustments required to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 13,402 11,608 10,991
Capital gain from sale of property (2,084) 0 0
Impairment of held for sale asset 0 771 651
Stock-based compensation 3,423 2,220 1,304
Accrued severance pay, net 167 136 26
Deferred taxes, net 2,662 (627) 1,744
Decrease (increase) in trade receivables, net 13,448 (11,162) (11,205)
Decrease (increase) in contract assets (1,694) 2,481 21,412
Increase in other assets and other adjustments (including current, long-term and effect of exchange rate changes on cash, cash equivalents and restricted cash) (351) (3,445) (247)
Decrease (increase) in inventories (2,387) (5,416) 2,449
Decrease in trade payables (7,635) (259) (711)
Increase (decrease) in accrued expenses 735 549 (1,482)
Increase (decrease) in advances from customers and deferred revenues 803 5,929 (917)
Increase (decrease) in other liabilities (12,049) 13,957 (2,079)
Net cash provided by operating activities 31,944 10,814 18,903
Cash flows from investing activities:      
Purchase of property and equipment (10,746) (12,793) (8,933)
Proceeds from (investment in) short-term deposits 0 2,159 (2,159)
Investment in financial instrument 0 (1,536) 0
Acquisitions of subsidiary, net of cash acquired (4,107) 0 0
Receipts from sale of properties 2,168 4,006 0
Net cash used in investing activities (12,685) (8,164) (11,092)
Cash flows from financing activities:      
Dividend payment 0 0 (35,003)
Repayment of credit facility, net (1,590) 0 0
Repayment of long-term loan 0 0 (4,000)
Net cash used in financing activities (1,590) 0 (39,003)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (63) 32 (303)
Increase (decrease) in cash, cash equivalents and restricted cash 17,606 2,682 (31,495)
Cash, cash equivalents and restricted cash at the beginning of the year 87,145 84,463 115,958
Cash, cash equivalents and restricted cash at the end of the year (a) 104,751 87,145 84,463
Supplementary disclosure of cash flows activities:      
Interest 564 0 98
Taxes on income 13,641 2,442 1,191
(B) Non-cash transactions:      
Purchases of property and equipment that were not paid for and reclassification from inventories to property and equipment 4,475 2,507 2,426
New operating lease assets obtained in exchange for operating lease liabilities $ 1,034 $ 1,768 $ 913