v3.24.2.u1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net income $ 27,863 $ 94,800
Adjustments to net income:    
Provision for bad debts 1,696 (141)
Deferred tax benefit (3,501) (1,796)
Depreciation and amortization 19,456 20,413
Amortization of developed technology 7,279 7,279
Amortization of debt discount and issuance costs 3,101 4,998
Equity-based compensation 4,836 8,311
Change in fair value of contingent consideration (232) 2,043
Warranty provision (61) 479
Write-down of inventories 1,227 3,458
Changes in operating assets and liabilities, net of business acquisition:    
Accounts receivable (1,379) (81,039)
Inventories (7,207) 22,844
Income tax receivables (1,313) 3,220
Prepaid expenses and other (3,453) (3,292)
Accounts payable (2,932) 30,542
Accrued expenses and other (15,172) 7,097
Income tax payable (2,684) 9,838
Lease liabilities (3,135) 1,414
Deferred revenue 27,070 (64,112)
Net cash provided by operating activities 51,459 66,356
Investing activities    
Purchase of property, plant and equipment (4,527) (9,424)
Retirement/disposal of property, plant and equipment 39 0
Net cash used in investing activities (4,488) (9,424)
Financing activities    
Series A equity issuance costs 0 (1,508)
Tax withholding related to vesting of equity-based compensation (580) 0
Proceeds from issuance of other debt 12,684 23,801
Principal payments on other debt (12,671) (38,257)
Principal payments on term loan facility (2,150) (22,150)
Contingent consideration payments (1,427) (1,200)
Net cash used in financing activities (4,144) (39,314)
Effect of exchange rate changes on cash and cash equivalent balances (9,587) 4,447
Net change in cash and cash equivalents 33,240 22,065
Cash and cash equivalents, beginning of period 249,080 133,901
Cash and cash equivalents, end of period 282,320 155,966
Supplemental cash flow information    
Cash paid for interest 17,819 15,880
Cash paid for income taxes (net of refunds) 17,001 18,484
Non-cash investing and financing activities    
Dividends accrued on Series A Preferred $ 13,782 $ 12,871