Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income (loss) $ (111,575) $ 5,182
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Amortization and depreciation 30,284 37,909
Impairment losses 0 2,438
Amortization of debt issuance costs and accretion of discounts 1,353 1,173
Stock-based compensation 34,420 33,645
Deferred income taxes (4,738) 8,886
Loss on disposal of property and equipment 445 2,041
Unrealized holding gain on investments 0 (1,959)
Impairment of leased right-of-use assets 2,738 0
Gain on extinguishment of lease liabilities (553) 0
(Gain) loss on foreign currency (1,366) 153
Excess tax (benefits) deficiencies on stock-based awards (1,519) (1,298)
Changes in operating assets and liabilities:    
Accounts receivable 85,679 16,167
Inventory 5,170 34,392
Prepaid expenses and other assets (763) (5,652)
Accounts payable, accrued expenses and other current liabilities (12,271) (27,264)
Accrued compensation 2,852 3,862
Accrued price protection liability (10,054) (33,041)
Lease liabilities (5,045) (6,009)
Other long-term liabilities (1,783) 2,112
Net cash provided by operating activities 13,274 72,737
Investing Activities    
Purchases of property and equipment (11,355) (10,253)
Purchases of intangible assets (3,143) (5,524)
Cash used in acquisition, net of cash acquired 0 (12,384)
Net cash used in investing activities (14,498) (28,161)
Financing Activities    
Net proceeds from issuance of common stock 1,579 3,076
Minimum tax withholding paid on behalf of employees for restricted stock units (1,656) (9,138)
Net cash used in financing activities (77) (6,062)
Effect of exchange rate changes on cash and cash equivalents (918) (1,228)
Increase (decrease) in cash, cash equivalents and restricted cash (2,219) 37,286
Cash, cash equivalents and restricted cash at beginning of period 188,356 188,357
Cash, cash equivalents and restricted cash at end of period 186,137 225,643
Supplemental disclosures of cash flow information:    
Cash paid for interest 4,952 4,503
Cash paid for income taxes 3,421 14,784
Supplemental disclosures of non-cash activities:    
Issuance of shares for payment of bonuses $ 10,992 $ 38,225