XML 19 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net income $ 7,012 $ 19,260
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 28,779 25,874
Loss on disposal of property and equipment 0 399
Share-based compensation expense 22,010 16,670
Deferred income taxes (9,409) 3,810
Amortization of operating lease right-of-use assets 5,157 5,226
Amortization of debt issuance costs 482 1,145
Changes in operating assets and liabilities:    
Accounts receivable and unbilled receivables 28,236 (9,244)
Inventories (7,271) (4,466)
Prepaid expenses 1,181 1,021
Other current assets 219 (830)
Investment in sales-type leases (1,375) (4,412)
Prepaid commissions 4,040 1,536
Other long-term assets (4,580) 3,061
Accounts payable (11,254) 2,066
Accrued compensation (3,098) (8,041)
Accrued liabilities (2,824) 1,810
Deferred revenues 16,264 253
Operating lease liabilities (5,186) (5,269)
Other long-term liabilities 4,352 3,891
Net cash provided by operating activities 72,735 53,760
Investing Activities    
Software development for external use (20,002) (22,581)
Purchases of property and equipment (13,211) (9,369)
Net cash used in investing activities (33,213) (31,950)
Financing Activities    
Repayment of debt and revolving credit facility (50,000) (60,000)
At the market equity offering, net of offering costs 0 37,806
Proceeds from issuances under stock-based compensation plans 21,162 25,333
Employees’ taxes paid related to restricted stock units (3,470) (4,722)
Net cash used in financing activities (32,308) (1,583)
Effect of exchange rate changes on cash and cash equivalents (841) 63
Net increase in cash and cash equivalents 6,373 20,290
Cash and cash equivalents at beginning of period 127,210 67,192
Cash and cash equivalents at end of period 133,583 87,482
Supplemental disclosure of non-cash activities    
Unpaid purchases of property and equipment 366 711
Transfers between inventory and property and equipment, net 0 1,428
Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,335 $ 557