| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Cash flows from / (used in) operating activities: | ||||||
Net income | ||||||
53,330 | 21,524 | 29,251 | 10,154 | 11,768 | 13,502 | 4,524 |
Adjustments to reconcile net income to net cash from / (used in) operating activities: | ||||||
Provision for credit losses on accounts receivable | ||||||
1,200 | 100 | 500 | 648 | 276 | 1,371 | 592 |
Reserve for product returns | ||||||
-123 | 273 | 2,055 | 2,071 | 1,559 | 1,863 | 1,781 |
Provision for notes receivable | ||||||
-3,272 | 3,319 | 0 | 0 | - | - | - |
Amortization on patents and tooling | ||||||
700 | 900 | 965 | 786 | 391 | 201 | 201 |
Amortization and depreciation | ||||||
22,134 | 21,721 | 17,734 | 6,490 | 5,808 | 3,991 | 3,360 |
Amortization of debt issuance costs | ||||||
108 | 108 | 97 | 103 | 108 | 70 | 0 |
Amortization of operating leases | ||||||
7,600 | - | - | - | - | - | - |
Deferred income taxes | ||||||
2,599 | -11,482 | 2,488 | 263 | -2,670 | -1,735 | -2,164 |
Change in fair value of contingent liability | ||||||
-198 | 0 | 0 | -230 | -470 | 0 | 0 |
Undistributed losses from equity investees | ||||||
0 | 0 | -120 | -81 | -681 | -514 | -112 |
Stock-based compensation | ||||||
20,603 | 13,429 | 7,413 | 4,001 | 3,347 | 3,267 | 841 |
Gain on notes receivable | ||||||
-6,931 | 0 | 0 | - | - | - | - |
Acquired in-process research and development | ||||||
850 | 0 | 0 | - | - | - | - |
Impairment of investment | ||||||
605 | 0 | 0 | - | - | - | - |
Disposal of property and equipment | ||||||
0 | -1,410 | -828 | 0 | 0 | -200 | 0 |
Goodwill and intangible asset impairment | ||||||
- | - | - | - | - | - | 11,266 |
Gain on release of contingent liability | ||||||
- | - | - | - | - | - | 5,820 |
Other, net | ||||||
- | - | - | - | - | 129 | 330 |
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
22,273 | 9,298 | 1,911 | 11,181 | 5,910 | 3,898 | 8,678 |
Inventory | ||||||
6,491 | 8,813 | 3,335 | 4,068 | -378 | 4,334 | 1,412 |
Other current and non-current assets | ||||||
2,887 | -115 | 2,542 | 837 | 2,725 | 1,136 | 1,038 |
Accounts payable, accrued expenses and other current liabilities | ||||||
-10,980 | 30,615 | 3,774 | 10,458 | 5,966 | 444 | 5,169 |
Deferred revenue | ||||||
-1,567 | -1,502 | -517 | 636 | 1,081 | 1,234 | 1,618 |
Operating lease liabilities | ||||||
-8,268 | - | - | - | - | - | - |
Other liabilities | ||||||
403 | -1,758 | 314 | 3,225 | 8,431 | -48 | -28 |
Cash flows from / (used in) operating activities | ||||||
47,112 | 60,710 | 57,187 | 22,600 | 28,019 | 15,635 | 10,654 |
Cash flows used in investing activities: | ||||||
Business acquisitions, net of cash acquired | ||||||
58,833 | 0 | 154,289 | 0 | 5,632 | 3,186 | 8,148 |
Additions to property and equipment | ||||||
19,324 | 11,015 | 10,464 | 9,055 | 10,347 | 6,892 | 2,275 |
Purchases of in-process research and development | ||||||
850 | 0 | 0 | - | - | - | - |
Investment in cost and equity method investees | ||||||
0 | 0 | 42 | 139 | 247 | 0 | 4,516 |
Distribution from cost method investee | ||||||
- | - | - | - | - | -2,545 | 0 |
Issuances or purchases of notes receivable | ||||||
26,103 | 1,287 | 8,000 | 3,073 | 406 | 755 | 1,492 |
Receipt of payment on notes receivable | ||||||
31,696 | 0 | 4,000 | 2,441 | 0 | 0 | - |
Purchases of patents and patent licenses | ||||||
0 | 1,075 | 0 | 1,600 | 1,000 | 0 | 0 |
Purchases of marketable securities | ||||||
- | - | - | - | - | - | 2,000 |
Disposition of marketable securities | ||||||
- | - | - | - | - | 2,000 | 0 |
Cash flows used in investing activities | ||||||
-73,414 | -13,377 | -168,795 | -11,426 | -17,632 | -6,288 | -18,431 |
Cash flows from financing activities: | ||||||
Proceeds from issuance of common stock from initial public offering, net of underwriting discount and commission | ||||||
- | - | - | - | 97,976 | 0 | 0 |
Proceeds from credit facility | ||||||
0 | 0 | 139,000 | 0 | 0 | 6,376 | 0 |
Repayments of credit facility | ||||||
4,000 | 4,000 | 74,700 | 0 | 0 | - | - |
Repayments of term loan | ||||||
- | - | - | - | - | 7,500 | 1,500 |
Payments of debt issuance costs | ||||||
0 | 0 | 438 | 131 | 0 | 0 | - |
Payments of long-term consideration for business acquisitions | ||||||
- | - | - | 417 | 417 | 0 | - |
Dividends paid to common stockholders | ||||||
- | - | - | - | 1,013 | 0 | 0 |
Dividends paid to employees for unvested shares | ||||||
- | - | - | - | 57 | 0 | 0 |
Dividends paid to redeemable convertible preferred stockholders | ||||||
- | - | - | - | 18,930 | 0 | 0 |
Payments of offering costs | ||||||
- | - | - | - | 2,632 | 2,399 | 0 |
Purchases of treasury stock | ||||||
0 | 1 | 9 | 11 | 1 | 7 | 5 |
Proceeds from early exercise of stock-based awards | ||||||
- | - | - | - | 129 | 1,548 | 0 |
Issuances of common stock from equity-based plans | ||||||
3,870 | 6,400 | 3,450 | 1,661 | 344 | 554 | 785 |
Tax windfall benefit from stock-based awards | ||||||
- | - | - | - | - | 1,070 | 160 |
Cash flows from financing activities | ||||||
-130 | 2,399 | 67,303 | 1,102 | 75,399 | -358 | -560 |
Net increase / (decrease) in cash and cash equivalents | ||||||
-26,432 | 49,732 | -44,305 | 12,276 | 85,786 | 8,989 | -8,337 |
Supplemental disclosures: | ||||||
Cash paid for interest | ||||||
2,730 | 2,695 | 2,010 | 181 | 175 | 193 | 274 |
Cash paid for / (received from) income taxes, net of refunds | ||||||
2,254 | -2,052 | 1,805 | 6,021 | 8,508 | 6,490 | 6,204 |
Noncash investing and financing activities: | ||||||
Conversion of redeemable convertible preferred stock to common stock | ||||||
- | - | - | - | 202,456 | 0 | 0 |
Assumed options from business acquisition | ||||||
0 | 0 | 1,375 | 0 | 0 | - | - |
Cash not yet paid for capital expenditures | ||||||
837 | 1,857 | 322 | 1,235 | 625 | 0 | 0 |
Cash not yet paid for business and asset acquisitions - holdback | ||||||
2,970 | 0 | 0 | - | 417 | 434 | 0 |
Contingent liability from business acquisition | ||||||
2,595 | 0 | 0 | - | 230 | 0 | 0 |
Reclassification of deferred offering costs to additional paid-in capital | ||||||
- | - | - | - | 5,024 | 0 | 0 |
Deferred offering costs in accounts payable, accrued expenses and other current liabilities | ||||||
- | - | - | - | - | 403 | 0 |
Conversion of note receivable into cost method investment | ||||||
- | - | - | - | - | - | 250 |