| Feb'20 | Nov'19 | Aug'19 | May'19 | Mar'19 | Nov'18 | Aug'18 | May'18 | Feb'18 | Nov'17 | Aug'17 | May'17 | Feb'17 | Nov'16 | May'16 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||||||
Net income (loss) | ||||||||||||||
-9,720 | 224 | 5,625 | 1,945 | 12,786 | 30,976 | 29,718 | 31,946 | 36,794 | 21,005 | -10,209 | 7,958 | -2,337 | -3,207 | -1,345 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||||||
Depreciation and amortization | ||||||||||||||
9,435 | 9,544 | 9,054 | 6,817 | 6,927 | 6,408 | 7,526 | 6,028 | 6,358 | 6,270 | 7,839 | 7,846 | 8,991 | 8,562 | 7,709 |
Share-based compensation | ||||||||||||||
4,647 | 5,956 | 5,563 | 4,433 | 4,148 | 4,055 | 3,959 | 3,297 | 1,697 | 1,605 | 1,831 | 1,389 | 1,094 | 1,050 | 947 |
Provision for doubtful accounts receivable | ||||||||||||||
-100 | 73 | -66 | 46 | 34 | -104 | -73 | -80 | 39 | 28 | -82 | 205 | 18 | -192 | 3 |
Deferred income tax benefit | ||||||||||||||
610 | -970 | -1,149 | 677 | -650 | 403 | -1,444 | -422 | -734 | -220 | -1,194 | -84 | -806 | -305 | -1,298 |
Gain on disposal of property and equipment | ||||||||||||||
18 | 42 | -56 | -22 | 4 | -3 | - | - | - | - | - | - | - | - | -54 |
Amortization of debt issuance costs | ||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 628 | - | - | 763 |
Amortization of debt discounts and issuance costs | ||||||||||||||
1,047 | 734 | 718 | 706 | 694 | 685 | 807 | 714 | 722 | 729 | 4,168 | 119 | 2,922 | 1,022 | 415 |
Amortization of operating lease right-of-use assets | ||||||||||||||
1,168 | 1,114 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Amortization of debt discount | ||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 1,733 | - | - | - |
Changes in operating assets and liabilities: | ||||||||||||||
Accounts receivable | ||||||||||||||
-9,198 | 13,688 | -27,582 | -91,430 | -5,669 | 89,441 | -31,409 | 45,799 | -14,894 | 55,801 | 6,910 | 36,891 | 18,235 | -21,610 | -8,776 |
Inventories | ||||||||||||||
3,343 | 42,206 | -19,312 | -35,111 | -17,084 | -30,576 | 14,495 | 6,384 | 17,810 | 3,746 | -9,333 | 4,833 | 35,351 | -9,000 | 2,046 |
Prepaid expenses and other assets | ||||||||||||||
-1,386 | -5,110 | 3,393 | 2,455 | -7,424 | 3,182 | 5,241 | 5,186 | 67 | -1,758 | 799 | 735 | -852 | -624 | -534 |
Accounts payable | ||||||||||||||
-3,782 | 60,438 | -19,684 | -76,442 | -17,017 | 48,574 | -66,331 | 46,532 | -10,145 | 47,492 | -22,407 | 27,525 | 40,674 | -56,400 | -24,727 |
Operating lease liabilities | ||||||||||||||
-1,058 | -1,082 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Accrued expenses and other liabilities | ||||||||||||||
2,439 | 62 | 8,023 | -15,980 | 1,959 | 6,399 | 7,320 | -2,545 | 2,705 | -4,863 | 4,639 | 3,846 | 2,036 | 1,215 | 4,503 |
Net cash provided by operating activities | ||||||||||||||
23,334 | 25,267 | 48,941 | 46,310 | 39,054 | 35,352 | -9,384 | 28,337 | 34,697 | 14,257 | 6,009 | 8,706 | 1,373 | -17,021 | -5,712 |
Capital expenditures and deposits on equipment | ||||||||||||||
4,210 | 5,158 | 3,321 | 10,496 | 6,232 | 13,384 | 7,487 | 7,794 | 4,418 | 6,039 | 7,499 | 3,784 | 4,320 | 3,075 | 4,253 |
Proceeds from sale of property and equipment | ||||||||||||||
54 | 42 | 10 | 18 | 32 | 21 | - | - | - | - | - | 425 | - | - | - |
Net cash used in investing activities | ||||||||||||||
-4,156 | -5,116 | -79,251 | -10,478 | -6,348 | -13,363 | -49,599 | -7,759 | -4,352 | -6,039 | -7,315 | -3,359 | -4,278 | -3,075 | -4,253 |
Cash flows from financing activities: | ||||||||||||||
Long-term debt payments | ||||||||||||||
797 | 6,435 | 1,680 | 1,704 | 1,712 | 1,657 | 5,867 | 6,093 | 6,125 | 6,184 | 2,009 | 5,954 | 6,404 | 5,331 | 4,163 |
Payment of costs related to IPO | ||||||||||||||
- | - | - | - | - | - | 0 | 0 | 302 | 1,289 | - | 200 | - | - | - |
Fees paid for revolving line of credit financing | ||||||||||||||
- | - | - | - | - | - | - | 0 | 469 | 299 | - | - | - | - | - |
Proceeds from borrowings under revolving line of credit | ||||||||||||||
6,000 | 12,500 | 19,000 | 67,500 | 64,000 | 104,000 | 151,895 | 69,000 | 103,000 | 105,500 | 119,500 | 123,000 | 105,000 | 110,250 | 53,500 |
Repayments of borrowings under revolving line of credit | ||||||||||||||
6,000 | 12,500 | 19,000 | 67,500 | 64,000 | 104,000 | 184,184 | 69,000 | 103,000 | 105,500 | 119,500 | 123,000 | 105,000 | 110,250 | 53,500 |
Proceeds from issuance of ordinary shares from share option exercises | ||||||||||||||
641 | 1,166 | 1,300 | 297 | 1,071 | 2,402 | 1,326 | 1,993 | 3,638 | 539 | - | 348 | - | - | 41 |
Tax payments due upon issuance of ordinary shares for release of RSUs | ||||||||||||||
351 | 20 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Proceeds from issuance of ordinary shares from ESPP | ||||||||||||||
0 | 1,242 | 0 | 1,335 | 0 | 968 | - | - | - | - | - | - | - | - | - |
Net cash provided by financing activities | ||||||||||||||
15,889 | -4,047 | -670 | -83 | -860 | 1,713 | 22,535 | -4,100 | -3,258 | -7,233 | 1,504 | -5,806 | -7,342 | -5,331 | -4,122 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||||||||||
-4,596 | -2,854 | 3,020 | -4,824 | 374 | 2,018 | 2,867 | -4,435 | 1,468 | -231 | 132 | -541 | -98 | 479 | 3,450 |
Net increase in cash, cash equivalents and restricted cash | ||||||||||||||
30,471 | 13,250 | -27,960 | 30,925 | 32,220 | 25,720 | -33,581 | 12,043 | 28,555 | 754 | 330 | -1,000 | -10,345 | -24,948 | -10,637 |
Supplemental disclosures of cash flow information: | ||||||||||||||
Cash paid during the period: | ||||||||||||||
Cash paid for interest | ||||||||||||||
5,058 | 4,696 | 5,760 | 4,930 | 5,016 | 4,942 | 4,243 | 3,567 | 3,958 | 3,523 | 4,243 | 5,624 | 6,250 | 5,341 | 5,555 |
Cash paid for income taxes, net of refunds | ||||||||||||||
2,632 | 914 | 1,489 | 6,078 | 1,870 | 5,869 | 4,747 | 7,250 | 6,196 | 3,639 | 2,802 | 3,522 | 1,067 | 704 | 1,700 |
Noncash activities information: | ||||||||||||||
Capital expenditures included in accounts payable at period end | ||||||||||||||
-490 | 1,335 | -1,018 | 1,520 | -212 | 1,147 | -2,181 | 2,524 | -1,529 | 1,910 | -507 | 275 | -190 | 575 | 1,367 |
IPO costs included in accounts payable and accrued liabilities at period end | ||||||||||||||
- | - | - | - | - | - | - | - | - | 302 | - | 1,990 | - | - | - |
Unpaid debt fees related to term loan and revolver | ||||||||||||||
- | - | - | - | - | - | - | - | - | 469 | - | - | - | - | - |
Proceeds receivable from the exercise of stock options | ||||||||||||||
- | - | - | - | - | - | - | - | - | -383 | - | - | - | - | - |