v3.20.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 82,082 $ 63,297
Accounts receivable, net of allowance for doubtful accounts of $6,213 and $7,384 93,133 115,889
Inventories 75,650 71,368
Prepaid expenses and other current assets 20,837 19,195
Total current assets 271,702 269,749
Property and equipment, net 24,516 24,702
Operating lease right-of-use assets 11,669 15,046
Intangible assets, net 92,741 114,799
Goodwill 151,299 146,367
Deferred income tax 27,563 30,355
Other assets 20,904 21,509
Total assets 600,394 622,527
Current liabilities:    
Accounts payable 23,429 27,253
Current portion of long-term debt 50,000 35,000
Current portion of operating lease liabilities 6,779 5,871
Accrued liabilities 44,236 54,451
Deferred revenue 21,308 20,246
Total current liabilities 145,752 142,821
Long-term liabilities:    
Other liabilities 18,451 17,616
Long-term debt 5,840 19,665
Operating lease liabilities 8,959 12,051
Deferred income tax 10,298 14,251
Total liabilities 189,300 206,404
Commitments and contingencies (Note 21)
Stockholders’ equity:    
Common stock, $0.001 par value; 120,000,000 shares authorized; shares issued and outstanding 33,911,703 in 2020 and 34,148,700 in 2019 342,828 344,476
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding in 2020 and in 2019 0 0
Retained earnings 71,309 87,922
Accumulated other comprehensive loss (3,043) (16,275)
Total stockholders’ equity 411,094 416,123
Total liabilities and stockholders’ equity $ 600,394 $ 622,527

Source

v3.20.4
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenue $ 415,684 $ 495,175 $ 530,891
Cost of revenue 185,912 196,551 217,952
Intangibles amortization 13,241 6,916 8,924
Gross profit 216,531 291,708 304,015
Operating expenses:      
Marketing and selling 107,282 129,109 136,680
Research and development 61,296 58,733 61,482
General and administrative 49,113 59,649 70,599
Intangibles amortization 15,224 15,144 22,585
Restructuring 3,809 44,739 37,231
Total operating expenses 236,724 307,374 328,577
Loss from operations (20,193) (15,666) (24,562)
Other expense, net (1,872) (5,591) (7,698)
Loss before provision (benefit) for income tax (22,065) (21,257) (32,260)
Provision (benefit) for income tax (5,452) (5,586) (9,325)
Net loss $ (16,613) $ (15,671) $ (22,935)
Net loss per share:      
Basic $ (0.49) $ (0.47) $ (0.69)
Diluted (in dollars per share) $ (0.49) $ (0.47) $ (0.69)
Weighted average shares used in the calculation of net loss per share:      
Basic (shares) 33,562 33,696 33,111
Diluted (shares) 33,562 33,696 33,111

Source

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net loss $ (16,613) $ (15,671) $ (22,935)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Provision for losses on accounts receivable 1,190 4,262 6,909
Depreciation and amortization 28,115 30,722 33,863
Sales-type Lease, Selling Profit (Loss) 1,881 0 0
Loss on equity method investment adjustment 133 0 0
Loss on disposal of property and equipment 268 449 746
Impairment of intangible assets 6,678 0 8,192
Impairment charge for sale of entity 0 24,571 0
Goodwill impairment charge 0 0 14,846
Warranty reserve 2,009 2,886 2,168
Stock-based compensation 9,566 8,352 17,051
Non cash lease expense 1,353 0 0
Deferred taxes (1,577) (5,364) (13,714)
Changes in operating assets and liabilities, net of assets and liabilities acquired in acquisitions:      
Accounts receivable 17,651 7,139 (5,199)
Inventories 1,939 7,185 (7,443)
Other assets (1,055) (2,486) (5,118)
Accounts payable (4,523) (1,367) 4,105
Accrued liabilities (13,427) (4,010) (2,527)
Deferred revenue 838 3,392 2,076
Net cash provided by operating activities 34,426 60,060 33,020
Investing activities:      
Acquisition of businesses, net of cash acquired (1,997) 0 151
Acquisition of property and equipment (8,609) (5,326) (7,875)
Acquisition of intangible assets 0 (13) (665)
Purchases of equity investments (2,000) 0 0
Net cash used in investing activities (12,606) (5,339) (8,389)
Financing activities:      
Proceeds from stock option exercises and ESPP 1,314 3,635 11,448
Finance Lease, Principal Payments (527) (478) 0
Repurchase of company stock (10,495) 0 (5,630)
Taxes paid related to net share settlement of equity awards (1,994) (1,689) (5,183)
Proceeds from long-term borrowings 60,000 0 0
Deferred debt issuance costs (1,175) 0 0
Contingent consideration earn-out 0 0 (147)
Payments on borrowings (58,000) (50,000) (50,000)
Net cash used in financing activities (10,877) (48,532) (49,512)
Exchange rate effect on cash and cash equivalents 7,842 735 (7,696)
Net increase (decrease) in cash and cash equivalents 18,785 6,924 (32,577)
Cash and cash equivalents, beginning of year 63,297 56,373 88,950
Cash and cash equivalents, end of year 82,082 63,297 56,373
Supplemental disclosure of cash flow information:      
Cash paid for interest 3,110 4,580 6,169
Cash paid for income taxes 6,825 6,445 9,247
Non-cash investing activities:      
Property and equipment included in accounts payable (51) 69 167
Inventory transferred to property and equipment 1,303 300 1,211
Transfer of leased assets to sales-type leases $ 4,107 $ 0 $ 0

Source