| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | |
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net loss | ||||||
-37,145 | -41,660 | -39,216 | -59,637 | -37,913 | -32,655 | |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization | ||||||
26,785 | 29,212 | 24,940 | 33,324 | 36,776 | 41,824 | |
Provision for inventory reserves | ||||||
4,371 | 5,572 | 1,680 | 583 | 2,285 | 2,908 | |
Provision for allowance for doubtful accounts | ||||||
347 | 68 | 319 | 469 | 167 | 383 | |
Stock-based compensation expense | ||||||
5,932 | 6,956 | 11,188 | 5,807 | 2,879 | 2,243 | |
Accretion of discounts and amortization of issuance costs of Convertible Notes | ||||||
- | - | - | 4,928 | 98 | 18 | |
Accretion of discounts and amortization of issuance costs of convertible senior notes | ||||||
2,358 | 1,604 | 0 | 0 | - | - | |
Decrease in contingent consideration | ||||||
- | - | - | - | - | -324 | |
Deferred income taxes | ||||||
-1,657 | -33 | 0 | -218 | -8,492 | -13,194 | |
Other | ||||||
-14 | 0 | 0 | - | - | - | |
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
2,834 | 9,381 | 5,082 | 2,860 | 5,825 | 4,303 | |
Inventory | ||||||
6,965 | 3,439 | 8,766 | 13,660 | 15,697 | 9,543 | |
Prepaid expenses and other assets | ||||||
9,741 | 10,256 | 9,738 | 8,450 | 1,284 | 594 | |
Accounts payable, accrued expenses, and accrued payroll liabilities | ||||||
5,750 | 8,059 | 6,365 | 9,552 | 7,916 | -3,210 | |
Net cash used in operating activities | ||||||
-12,813 | -13,298 | -18,310 | -30,162 | -19,090 | -16,447 | |
Investing activities | ||||||
Purchases of surgical instruments | ||||||
11,066 | 12,275 | 10,905 | 12,848 | 8,323 | 3,604 | |
Purchases of property, plant and equipment | ||||||
3,920 | 17,439 | 2,787 | 2,905 | 1,494 | 1,182 | |
Changes in cash restricted for leasehold improvements | ||||||
-61 | -6,608 | 0 | 6,667 | - | - | |
Amounts placed in escrow for new corporate headquarters | ||||||
- | - | - | - | 0 | 0 | |
Purchase of intangible assets | ||||||
2,958 | 1,307 | 588 | 118 | 117 | 250 | |
Net cash used in investing activities | ||||||
-17,883 | -24,413 | -14,280 | -22,538 | -9,934 | -5,036 | |
Financing activities | ||||||
Borrowings on bank line of credit | ||||||
0 | 19,500 | 25,000 | 0 | 3,500 | 9,000 | |
Payments on bank line of credit | ||||||
0 | 19,500 | 25,000 | 23,500 | 2,000 | 0 | |
Proceeds from issuances of common stock, net of issuance costs | ||||||
0 | 0 | 54,209 | 121,898 | 0 | 0 | |
Payments under capital lease | ||||||
973 | 219 | 0 | 0 | - | - | |
Proceeds from issuance of convertible senior notes, net of issuance costs | ||||||
0 | 47,108 | 0 | 0 | 11,574 | 2,395 | |
Proceeds from issuances of notes to stockholders | ||||||
- | - | - | 14,634 | 14,884 | 4,650 | |
Prepayment of notes to stockholders | ||||||
- | - | - | 39,212 | 0 | 0 | |
Payment of dividends on Series A and Series B redeemable convertible preferred stock | ||||||
- | - | - | 18,547 | 0 | - | |
Proceeds from private placement of common stock | ||||||
- | - | - | - | 2,177 | 650 | |
Issuances and exercise of stock-based compensation benefit plans, net of income tax | ||||||
9,397 | 2,244 | 2,017 | 1,563 | -755 | -449 | |
Net cash provided by financing activities | ||||||
8,424 | 49,133 | 56,226 | 56,836 | 29,380 | 16,246 | |
Effect of exchange rate changes on cash and cash equivalents | ||||||
725 | -557 | -401 | -144 | 52 | 22 | |
Net change in cash and cash equivalents | ||||||
-21,547 | 10,865 | 23,235 | 3,992 | 408 | -5,215 | |
Significant non-cash investing activities | ||||||
Buildings under capital lease | ||||||
0 | 0 | 26,469 | 0 | 0 | - | |
Leasehold improvements, including property under capital lease | ||||||
0 | 171 | 6,884 | 0 | 0 | - | |
Additions to property, plant and equipment | ||||||
250 | 0 | 0 | - | - | - | |
Capital lease obligation | ||||||
0 | 1,708 | 33,938 | 0 | 0 | - | |
Accretion of discount on convertible senior notes | ||||||
2,281 | 807 | 0 | 0 | - | - | |
Adjustment of preferred stock to fair value | ||||||
- | - | - | -8,059 | 14,035 | 2,542 | |
Convertible senior notes due 2025 issuance costs | ||||||
0 | 0 | 52 | 0 | - | - | |
Cash paid for: | ||||||
Income taxes | ||||||
168 | 159 | 126 | 132 | 130 | 201 | |
Interest | ||||||
2,231 | 382 | 428 | 6,690 | 2,405 | 1,741 | |