v3.21.2
Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities    
Net income (loss) $ 4,535,000 $ (37,276,000)
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Amortization and depreciation 44,322,000 33,265,000
Impairment losses 0 86,000
Amortization of debt issuance costs and accretion of discounts 2,071,000 807,000
Stock-based compensation 26,921,000 18,912,000
Deferred income taxes (5,461,000) (9,087,000)
Loss on disposal of property and equipment 388,000 0
Impairment of leasehold improvements 226,000 163,000
Impairment of leased right-of-use assets 429,000 44,000
Loss on extinguishment of debt 5,221,000 0
(Gain) loss on foreign currency 408,000 (226,000)
Excess tax (benefits) deficiencies on stock-based awards (4,631,000) (378,000)
Changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (67,879,000) 8,977,000
Inventory (596,000) (2,831,000)
Prepaid expenses and other assets 33,448,000 774,000
Leased right-of-use assets 72,000 326,000
Accounts payable, accrued expenses and other current liabilities 6,311,000 5,235,000
Accrued compensation 15,233,000 7,757,000
Accrued price protection liability 6,955,000 (6,669,000)
Lease liabilities (4,347,000) (2,709,000)
Other long-term liabilities 4,497,000 (1,262,000)
Net cash provided by operating activities 68,123,000 15,908,000
Investing Activities    
Purchases of property and equipment (17,310,000) (4,936,000)
Purchases of intangible assets (1,112,000) (13,000)
Cash used in acquisitions, net of cash acquired (27,500,000) 0
Purchases of long-term investments (5,000,000) 0
Net cash used in investing activities (50,922,000) (4,949,000)
Financing Activities    
Proceeds from the issuance of debt 350,000,000 0
Payment of debt issuance cost (4,127,000) 0
Repayment of debt (369,813,000) 0
Net proceeds from issuance of common stock 6,094,000 4,642,000
Minimum tax withholding paid on behalf of employees for restricted stock units (10,105,000) (1,499,000)
Repurchase of common stock (7,137,000) 0
Net cash provided by (used in) financing activities (35,088,000) 3,143,000
Effect of exchange rate changes on cash and cash equivalents (713,000) 210,000
Increase (decrease) in cash, cash equivalents and restricted cash (18,600,000) 14,312,000
Cash, cash equivalents and restricted cash at beginning of period 150,034,000 93,117,000
Cash, cash equivalents and restricted cash at end of period 131,434,000 107,429,000
Supplemental disclosures of cash flow information:    
Cash paid for interest 6,402,000 3,999,000
Cash paid for income taxes 1,671,000 1,220,000
Supplemental disclosures of non-cash activities:    
Issuance of shares for payment of bonuses $ 22,874,000 $ 2,599,000

Source