v3.22.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net income $ 1,903 $ 2,396
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for losses on accounts receivable 87 101
Depreciation and amortization 6,673 7,257
Loss on disposal of property and equipment 30 8
Warranty reserve 1,363 341
Share-based compensation 2,619 3,114
Loss on commencement of sales-type leases 0 6
Loss on equity method investment 192 136
Changes in operating assets and liabilities:    
Accounts receivable 8,803 4,962
Inventories (6,132) 4,139
Prepaid expenses and other assets (4,752) (4,028)
Accounts payable (1,957) 1,303
Accrued liabilities (1,762) 1,172
Deferred revenue 1,949 2,732
Deferred income tax (119) 1,064
Net cash provided by operating activities 8,897 24,703
Investing activities:    
Purchase of property and equipment (1,062) (731)
Purchase of equity method investments (572) 0
Net cash used in investing activities (1,634) (731)
Financing activities:    
Proceeds from stock option exercises and Employee Stock Purchase Program purchases 4,191 0
Taxes paid related to net share settlement of equity awards (1,228) (1,150)
Principal payments of financing lease liability (447) (125)
Payments on borrowings 0 (20,000)
Net cash provided by (used in) financing activities 2,516 (21,275)
Exchange rate changes effect on cash and cash equivalents (1,089) (4,230)
Net increase (decrease) in cash and cash equivalents 8,690 (1,533)
Cash and cash equivalents, beginning of period 75,595 82,082
Cash and cash equivalents, end of period 84,285 80,549
Supplemental disclosure of cash flow information:    
Cash paid for interest 114 513
Cash paid for income taxes 1,066 (320)
Non-cash investing activities:    
Property and equipment included in accounts payable 32 39
Inventory transferred to property and equipment 291 94
Transfer of leased assets to sales-type leases $ 0 $ 13

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