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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 9,927 $ (8,326)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 4,702 4,545
Amortization of acquisition related intangible assets 5,885 5,418
Amortization of acquisition related inventory step-up 6,244 7,396
Non-cash operating lease cost 1,312 1,136
Goodwill impairment 0 18,144
Change in fair value of contingent consideration (21,920) (16,176)
Loss on disposal of fixed assets 831 287
Loss on impairment of intangible asset 0 1,025
Stock-based compensation expense 7,919 3,953
Deferred income taxes 1,018 (3,302)
Recovery for doubtful accounts (60) (482)
Provision for inventory 3,702 4,205
Other (13) (19)
Changes in operating assets and liabilities:    
Accounts receivable (8,321) 7,811
Inventories (7,117) (8,840)
Prepaid expenses, other current and long-term assets 1,864 (989)
Accounts payable (702) (1,904)
Operating lease liabilities (1,247) (1,286)
Accrued expenses, other current and long-term liabilities 3,104 (2,340)
Contingent consideration (2,780) 0
Income taxes (423) 222
Net cash provided by operating activities 3,925 10,478
Cash flows from investing activities:    
Acquisition of Parcus Medical and Arthrosurface, net of cash acquired (363) (93,859)
Proceeds from maturities of investments 2,501 27,000
Purchases of investments 0 (20,035)
Purchases of property and equipment (4,016) (1,179)
Net cash used in investing activities (1,878) (88,073)
Cash flows from financing activities:    
Payments made on finance leases (210) (155)
Repayments of long term debt 0 (25,351)
Proceeds from long term debt 0 50,000
Cash paid for contingent consideration (7,220) 0
Cash paid for tax withheld on vested restricted stock awards (423) (224)
Proceeds from exercises of equity awards 1,014 68
Net cash (used in) provided by financing activities (6,839) 24,338
Exchange rate impact on cash and cash equivalents (49) 10
Decrease in cash and cash equivalents (4,841) (53,247)
Cash and cash equivalents at beginning of period 95,817 157,463
Cash and cash equivalents at end of period 90,976 104,216
Non-cash Investing Activities:    
Purchases of property and equipment included in accounts payable and accrued expenses 195 44
Right of use assets 220 0
Consideration for acquisitions included in accounts payable and accrued expenses 0 1,209
Acquisition related contingent consideration 0 69,076
Operating lease liabilities $ 220 $ 0