| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||
Net income | ||||||
32,839 | 4,916 | 38,508 | 131,577 | 40,520 | 13,520 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation | ||||||
12,600 | 13,600 | 12,300 | 9,168 | 4,576 | 2,662 | |
Gain on disposal of property and equipment | ||||||
0 | 0 | 47 | -25 | 0 | -108 | |
Stock-based compensation | ||||||
35,153 | 29,593 | 23,373 | 20,745 | 825 | 407 | |
Deferred income taxes | ||||||
-13,081 | 3,133 | -18,368 | -12,344 | -11,189 | - | |
Non-cash lease expense | ||||||
4,872 | - | - | - | - | - | |
Other non-cash benefits | ||||||
2,244 | 799 | -446 | -130 | 80 | 47 | |
Fair Value Adjustment of Warrants | ||||||
- | - | - | 3,361 | 2,154 | 483 | |
Changes in operating assets and liabilities: | ||||||
Increase (Decrease) in Accounts Receivable | ||||||
7,117 | 4,229 | -21,525 | 66,867 | 23,205 | 5,956 | |
Inventory | ||||||
15,309 | -36,721 | 30,551 | 3,761 | 12,921 | -1,146 | |
Prepaid expenses and other current assets | ||||||
-6,080 | -6,219 | 6,540 | 10,921 | -1,144 | 2,087 | |
Deferred product costs | ||||||
- | - | - | - | 2,580 | 222 | |
Restricted cash | ||||||
- | - | - | - | 0 | - | |
Other assets | ||||||
302 | -1,113 | 4,618 | 612 | 78 | -21 | |
Accounts payable | ||||||
-835 | 1,377 | -2,371 | 23,277 | 11,942 | 1,734 | |
Accrued liabilities | ||||||
26,750 | -5,467 | 6,957 | 14,376 | 6,713 | 188 | |
Deferred revenue | ||||||
-881 | 8,357 | -548 | -6,387 | 4,073 | 1,346 | |
Income taxes payable | ||||||
-1,674 | -12,243 | 21,034 | 0 | 0 | - | |
Lease liabilities | ||||||
4,541 | - | - | - | - | - | |
Other long-term liabilities | ||||||
550 | 748 | 813 | 1,077 | 396 | - | |
Net cash provided by operating activities | ||||||
72,819 | 83,085 | 61,893 | 102,844 | 22,450 | 13,397 | |
Purchases of property and equipment | ||||||
11,837 | 14,660 | 14,112 | 17,254 | 12,110 | 6,466 | |
Purchases of marketable securities | ||||||
476,207 | 382,438 | 436,594 | 118,676 | 0 | - | |
Sales and maturities of marketable securities | ||||||
384,467 | 340,920 | 242,735 | 14,525 | 0 | - | |
Deposits | ||||||
2 | 59 | -64 | 86 | 6 | 12 | |
Net cash provided by (used in) investing activities | ||||||
-103,579 | -56,237 | -207,907 | -121,491 | -12,116 | -6,478 | |
Repayment of long-term debt | ||||||
- | - | - | - | 2,155 | 786 | |
Repayment of working capital line of credit | ||||||
- | - | - | - | - | 5,269 | |
Payment of capital lease obligation | ||||||
- | - | - | 34 | 63 | - | |
Deferred financing costs | ||||||
- | - | - | - | 4 | 35 | |
Proceeds from Issuance Initial Public Offering | ||||||
- | - | - | 214,551 | 0 | - | |
Payment of public offering costs | ||||||
0 | 0 | 201 | 3,490 | 1,825 | - | |
Treasury stock acquired | ||||||
0 | 39,712 | 0 | 0 | - | - | |
Proceeds from the issuance of common stock under stock-based compensation plans | ||||||
6,933 | 5,813 | 5,678 | 2,634 | 200 | 70 | |
Employee taxes paid related to net share settlement of restricted stock units | ||||||
- | - | - | 14,592 | 0 | - | |
Net cash provided by financing activities | ||||||
6,933 | -33,899 | 5,477 | 199,069 | -3,847 | -6,020 | |
Net increase in cash and cash equivalents | ||||||
-23,827 | -7,051 | -140,537 | 180,422 | 6,482 | 893 | |
Effect of exchange rates on cash | ||||||
- | - | - | - | -5 | -6 | |
Supplemental cash flow disclosures: | ||||||
(Refunds received) cash paid for income taxes, net | ||||||
-129 | -5,053 | 1,465 | 3,099 | 7,311 | 4,702 | |
Cash paid for interest | ||||||
- | - | - | - | 54 | 375 | |
Supplemental disclosure of non-cash investing and financing activities: | ||||||
Right of use assets acquired under operating leases | ||||||
7,084 | - | - | - | - | - | |
Capital expenditures incurred but not yet paid | ||||||
1,338 | 196 | 2,742 | 1,982 | 844 | 495 | |
Public offering costs incurred but not yet paid | ||||||
- | - | - | 200 | 215 | - | |
Property and equipment acquired under capital lease | ||||||
- | - | - | - | 96 | - | |
Accretion of redemption value on redeemable convertible preferred stock | ||||||
- | - | - | 1,628 | 4,273 | 4,275 | |
Accretion of redeemable convertible preferred stock issuance costs | ||||||
- | - | - | 94 | 80 | 98 | |
Conversion of redeemable convertible preferred stock into common stock | ||||||
- | - | - | 72,502 | 0 | - | |
Reclassification to additional paid-in capital of fair value of preferred stock warrant liability upon conversion to common stock warrants | ||||||
- | - | - | 6,615 | 0 | - | |