Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net income $ 33,586 $ 3,802
Adjustments to reconcile net income to cash provided by operating activities:    
Amortization and depreciation 23,880 22,325
Amortization of debt issuance costs and accretion of discounts 486 844
Stock-based compensation 18,554 12,955
Deferred income taxes 6,842 541
Loss on disposal of property and equipment 159 368
Unrealized holding loss on investments 954 0
Impairment of leasehold improvements 0 226
Impairment of leased right-of-use assets 0 429
(Gain) loss on foreign currency (316) 21
Excess tax benefits on stock-based awards (7,120) (1,809)
Changes in operating assets and liabilities:    
Accounts receivable (5,969) (20,079)
Inventory (7,338) 5,658
Prepaid expenses and other assets 3,503 29,860
Leased right-of-use assets 0 36
Accounts payable, accrued expenses and other current liabilities 32,952 (22,032)
Accrued compensation 12,237 1,376
Accrued price protection liability 27,975 7,299
Lease liabilities (3,301) (2,002)
Other long-term liabilities (2,918) 454
Net cash provided by operating activities 134,166 40,272
Investing Activities    
Purchases of property and equipment (4,800) (6,152)
Purchases of intangible assets (4,637) (1,112)
Proceeds loaned under notes receivable (10,000) 0
Purchases of investments (23,325) (5,000)
Net cash used in investing activities (42,762) (12,264)
Financing Activities    
Repayment of debt (20,000) (20,000)
Net proceeds from issuance of common stock 87 1,298
Minimum tax withholding paid on behalf of employees for restricted stock units (24,449) (7,442)
Repurchase of common stock (26,297) (2,673)
Net cash used in financing activities (70,659) (28,817)
Effect of exchange rate changes on cash and cash equivalents (230) (32)
Increase (decrease) in cash, cash equivalents and restricted cash 20,515 (841)
Cash, cash equivalents and restricted cash at beginning of period 131,738 150,034
Cash, cash equivalents and restricted cash at end of period 152,253 149,193
Supplemental disclosures of cash flow information:    
Cash paid for interest 2,053 3,309
Cash paid for income taxes 1,698 593
Supplemental disclosures of non-cash activities:    
Issuance of shares for payment of bonuses $ 38,197 $ 22,710