| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flows provided by (used in) operating activities: | ||||||
Net income (loss) | ||||||
-48,206 | 73,006 | 88,500 | 88,668 | |||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
Depreciation and amortization | ||||||
14,722 | 9,454 | 7,738 | 6,008 | |||
Stock-based compensation | ||||||
9,821 | 8,894 | 9,136 | 8,304 | |||
Deferred income taxes | ||||||
19,641 | -11,517 | 11,422 | -6,860 | |||
Increase in provision for doubtful accounts | ||||||
560 | -282 | 6 | - | |||
Excess and obsolete inventory valuation adjustment | ||||||
-545 | 5,883 | -4,115 | -1,674 | |||
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
-1,881 | -34,716 | 25,726 | 16,273 | |||
Inventory | ||||||
21,276 | 11,051 | -21,859 | 22,798 | |||
Prepaid expenses and other assets | ||||||
3,679 | 1,084 | -3,519 | 3,235 | |||
Prepaid income taxes | ||||||
16 | 146 | -486 | 900 | |||
Accounts payable | ||||||
1,554 | 4,197 | -6,475 | 14,453 | |||
Accrued expenses and other current liabilities | ||||||
-7,827 | 6,124 | 10,243 | 15,759 | |||
Accrued income taxes | ||||||
2,724 | -3,088 | -3,212 | 6,894 | |||
Deferred revenue | ||||||
-9,498 | -5,087 | -25,631 | 17,286 | |||
Net cash provided by (used in) operating activities | ||||||
-39,022 | 98,545 | 95,008 | 110,780 | |||
Cash flows used in investing activities: | ||||||
Purchases of property and equipment | ||||||
8,591 | 7,966 | 7,014 | 7,419 | |||
Acquisition of a business, net of cash acquired | ||||||
109,431 | - | - | - | |||
Purchases of marketable securities | ||||||
- | - | - | 14,392 | |||
Proceeds from maturities of marketable securities | ||||||
- | - | 14,589 | - | |||
Net cash used in investing activities | ||||||
-118,022 | -7,966 | 7,575 | -21,811 | |||
Cash flows used in financing activities: | ||||||
Proceeds from initial public offering, net of underwriting discounts and commissions | ||||||
- | - | 83,421 | - | |||
Proceeds from issuance of debt, net of issuance costs | ||||||
- | - | - | 292,189 | |||
Principal repayments of debt | ||||||
6,820 | 3,304 | 3,292 | 282 | |||
Proceeds from exercise of stock options | ||||||
2,687 | 14,730 | 274 | 594 | |||
Payments of initial public offering costs | ||||||
0 | 1,148 | 2,384 | 517 | |||
Employee taxes paid related to net share settlement of equity awards | ||||||
1,009 | 13 | 4,046 | 315 | |||
Payments of dividends and equitable adjustments | ||||||
2,590 | 7,325 | 246,634 | 142,301 | |||
Follow-on offering selling stockholders profit disgorgement | ||||||
- | 3,811 | - | - | |||
Repurchases of common stock | ||||||
1,795 | 75,102 | - | - | |||
Net cash used in financing activities | ||||||
-9,527 | -68,351 | -172,661 | 149,368 | |||
Effect of exchange rate changes on cash and cash equivalents | ||||||
-378 | -1,442 | 1,344 | -1,279 | |||
Net increase (decrease) in cash, cash equivalents and restricted cash | ||||||
-166,949 | 20,786 | -68,734 | 237,058 | |||
Supplemental disclosures of cash flow information: | ||||||
Cash paid for interest | ||||||
18,885 | 18,348 | 16,275 | 274 | |||
Cash paid for income taxes | ||||||
4,334 | 7,268 | 26,297 | 25,179 | |||
Supplemental disclosures of non-cash operating, investing and financing activities: | ||||||
Purchases of property and equipment included in accounts payable | ||||||
727 | 1,255 | 1,018 | 869 | |||
Prepaid expenses and other current assets included in accounts payable | ||||||
- | - | - | 256 | |||
Deferred offering costs included in accounts payable and accrued expenses and other current liabilities | ||||||
- | - | 1,193 | 947 | |||
Unpaid equitable adjustments included in accrued expenses and other current liabilities | ||||||
731 | 3,336 | 10,661 | 107,509 | |||
Release of customer incentives included in accounts receivable and accrued expenses and other current liabilities | ||||||
5,735 | 8,556 | 15,468 | 4,206 | |||