| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities | ||||||||||
Net income (loss) | ||||||||||
-19,898 | -26,199 | -9,187 | 61,292 | -42,331 | -7,041 | -12,733 | -13,252 | -22,024 | 10,114 | 4,329 |
Adjustments to reconcile net loss to cash provided by operating activities: | ||||||||||
Amortization and depreciation | ||||||||||
66,401 | 79,027 | 66,738 | 26,703 | 40,641 | 5,107 | 3,715 | 3,531 | 3,159 | 1,873 | 841 |
Impairment losses | ||||||||||
0 | 2,200 | 2,000 | 1,300 | 21,600 | 0 | 0 | - | - | - | - |
Accretion of investment premiums | ||||||||||
0 | 0 | 60 | -169 | -554 | -724 | -974 | -1,058 | -1,179 | -1,258 | 1 |
Amortization of inventory step-up | ||||||||||
0 | 0 | 25,557 | 5,641 | 14,244 | 0 | 0 | - | - | - | - |
Amortization of debt issuance costs and accretion of discount on debt and leases | ||||||||||
1,577 | 1,148 | 763 | 0 | 0 | - | - | - | - | - | - |
Provision for losses on accounts receivable | ||||||||||
0 | 0 | 133 | 87 | 178 | 0 | 0 | - | - | - | - |
Provision for inventory reserves | ||||||||||
- | - | - | - | - | - | 0 | - | - | - | - |
Stock-based compensation | ||||||||||
32,060 | 31,721 | 32,668 | 21,765 | 19,268 | 15,008 | 12,986 | 9,984 | 7,368 | 4,215 | 959 |
Deferred income taxes | ||||||||||
-15,693 | -12,144 | -31,767 | 101 | -1,906 | -2,281 | -166 | 0 | 6,668 | -6,668 | - |
Loss on disposal of property and equipment | ||||||||||
-46 | -430 | -168 | -366 | -74 | 0 | 0 | - | - | - | - |
Loss on sale of available-for-sale securities | ||||||||||
0 | 0 | -38 | 50 | 21 | 3 | 0 | 2 | 9 | - | - |
Change in fair value of contingent consideration | ||||||||||
- | - | - | 220 | 130 | 0 | - | - | - | - | - |
Impairment of leasehold improvements | ||||||||||
1,400 | 735 | 0 | 388 | 8,163 | 0 | 0 | 184 | 150 | 36 | 32 |
Impairment of leased right-of-use assets | ||||||||||
9,200 | 0 | 0 | - | - | - | - | - | - | - | - |
Impairment of long-lived assets | ||||||||||
- | - | - | - | 153 | 29 | 1,231 | - | - | - | - |
Gain on extinguishment of lease liabilities | ||||||||||
10,400 | 0 | 0 | - | - | - | - | - | - | - | - |
(Gain) loss on foreign currency | ||||||||||
-760 | 809 | -2,153 | 216 | 0 | 0 | - | - | - | - | - |
Excess tax deficiencies (benefits) on stock-based awards | ||||||||||
4,064 | 2,028 | 8,559 | 8,291 | 0 | 0 | - | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||||
Accounts receivable | ||||||||||
-9,090 | -6,595 | 4,377 | 8,175 | -5,160 | -1,982 | 5,500 | 4,137 | 7,374 | -6,660 | 8,356 |
Inventory | ||||||||||
-10,195 | -11,696 | 1,788 | -9,846 | 6,247 | 757 | 141 | 1,809 | 657 | 4,575 | -825 |
Prepaid expenses and other assets | ||||||||||
-3,805 | -1,071 | -1,272 | -402 | -4,495 | 752 | 308 | 129 | -155 | 1,458 | 1,680 |
Leased right-of-use assets | ||||||||||
-3,044 | 0 | 0 | - | - | - | - | - | - | - | - |
Accounts payable, accrued expenses and other current liabilities | ||||||||||
1,261 | 5,923 | -1,918 | 3,249 | -22,033 | 83 | -627 | 3,981 | 4,368 | -2,295 | 2,902 |
Increase (decrease) in due to related prarties | ||||||||||
- | - | - | - | - | - | - | - | -1,746 | -762 | 2,168 |
Accrued compensation | ||||||||||
2,021 | 8,961 | 1,567 | 5,609 | 5,320 | 3,911 | 5,587 | 4,910 | -51 | 424 | 1,220 |
Deferred revenue and deferred profit | ||||||||||
0 | -138 | -1,629 | 1,925 | 454 | 961 | 362 | -1,740 | -1,293 | 4,528 | 6,550 |
Accrued price protection liability | ||||||||||
-3,966 | -5,117 | 6,395 | -4,850 | 6,522 | -4,999 | 7,137 | 5,024 | 2,400 | 358 | - |
Lease liabilities | ||||||||||
8,142 | 0 | 0 | - | - | - | - | - | - | - | - |
Other long-term liabilities | ||||||||||
-394 | -381 | -5,103 | -164 | 623 | 262 | 373 | -59 | 598 | 186 | 71 |
Net cash provided by operating activities | ||||||||||
78,348 | 102,689 | 75,064 | 117,317 | 55,041 | 12,234 | 12,890 | 7,544 | -7,109 | 4,838 | 9,860 |
Investing Activities | ||||||||||
Purchases of property and equipment | ||||||||||
6,887 | 7,825 | 7,468 | 8,512 | 2,996 | 8,800 | 3,162 | 5,055 | 2,962 | 2,960 | 1,409 |
Purchase of intangibles | ||||||||||
86 | 0 | 5,378 | 390 | 100 | 0 | 955 | 390 | 201 | 1,275 | - |
Proceeds from Sale of Property, Plant, and Equipment | ||||||||||
0 | 0 | 30 | 0 | 0 | - | - | - | - | - | - |
Purchase of intangibles | ||||||||||
0 | 0 | 473,304 | 101,000 | 3,615 | 9,136 | 0 | 0 | - | - | - |
Payments to Acquire Available-for-sale Securities | ||||||||||
0 | 0 | 30,577 | 90,307 | 73,377 | 56,702 | 70,620 | 87,897 | 111,369 | 111,807 | - |
Maturities of available-for-sale securities | ||||||||||
0 | 0 | 84,546 | 98,896 | 69,029 | 57,172 | 65,200 | 89,151 | 125,350 | 37,667 | 1,800 |
Net cash used in investing activities | ||||||||||
-6,973 | -7,825 | -432,151 | -101,313 | -11,059 | -17,466 | -9,537 | -4,191 | 10,818 | -78,375 | 391 |
Financing Activities | ||||||||||
Payments for Capital Improvements | ||||||||||
- | - | - | - | - | - | 2 | - | - | - | - |
Net proceeds from the issuance of debt | ||||||||||
0 | 0 | 416,846 | 0 | 0 | - | - | - | - | - | - |
Equity issuance costs | ||||||||||
- | - | - | - | 705 | 0 | 0 | - | - | - | - |
Repayment of debt | ||||||||||
50,000 | 93,000 | 70,000 | 0 | 0 | - | - | - | - | - | - |
Proceeds from initial public offering, net of costs | ||||||||||
- | - | - | - | - | - | - | - | - | 75,550 | -747 |
Repurchases of common stock | ||||||||||
0 | 0 | 334 | 3 | 101 | 0 | 0 | 12,076 | 0 | - | - |
Payments on capital leases | ||||||||||
- | - | - | - | - | - | - | 32 | 82 | 123 | 108 |
Net proceeds from issuance of common stock | ||||||||||
8,603 | 6,839 | 12,052 | 6,649 | 9,950 | 3,304 | 2,647 | 2,706 | 2,815 | 1,743 | 605 |
Minimum tax withholding paid on behalf of employees for restricted stock units | ||||||||||
11,986 | 7,623 | 11,543 | 7,316 | 5,141 | 3,810 | 1,375 | 175 | 0 | - | - |
Net cash provided by (used in) financing activities | ||||||||||
-53,383 | -93,784 | 347,021 | -670 | 4,003 | -506 | 1,270 | -9,577 | 2,733 | 77,170 | -250 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||
934 | -1,301 | 1,582 | -394 | -725 | -16 | 17 | 8 | 21 | 9 | 1 |
Increase (decrease) in cash, cash equivalents and restricted cash | ||||||||||
18,926 | -221 | -8,484 | 14,940 | 47,260 | -5,754 | 4,640 | -6,216 | 6,463 | 3,642 | 10,002 |
Supplemental disclosures of cash flow information: | ||||||||||
Cash paid for interest | ||||||||||
11,259 | 13,957 | 8,843 | 0 | 0 | - | 1 | 1 | 9 | 29 | 45 |
Cash paid for income taxes | ||||||||||
4,417 | 5,426 | 9,435 | 1,583 | 41 | 187 | 186 | 40 | 0 | 382 | 411 |
Supplemental disclosures of non-cash activities: | ||||||||||
Issuance of shares for payment of bonuses | ||||||||||
7,632 | 6,997 | 3,314 | 7,649 | 5,459 | 5,050 | 4,836 | 0 | 0 | - | - |
Accrued purchases of intangible assets | ||||||||||
- | - | - | - | - | - | - | - | 390 | - | - |
Capital Expenditures Incurred but Not yet Paid | ||||||||||
- | - | - | - | - | - | 2 | 52 | 708 | 554 | 359 |
Lease incentive for leasehold improvements | ||||||||||
- | - | - | 61 | 4,255 | 2,008 | 0 | 0 | - | - | - |
Issuance of restricted stock units to Physpeed continuing employees | ||||||||||
0 | 0 | 818 | 1,061 | 0 | 0 | - | - | - | - | - |
Unrealized gain (loss) on available-for-sale securities | ||||||||||
- | - | - | - | - | - | - | - | - | - | -2 |