v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net (loss) income $ (6,296) $ 7,894
Adjustments to reconcile net (loss) income to cash provided by (used in) operating activities    
Stock-based compensation 2,302 1,880
Depreciation and amortization 983 1,014
Right of use asset depreciation 402 374
(Accretion) amortization of premiums and discounts on investments (89) 288
Deferred income taxes (1,152) 351
Other non-cash adjustments 93 57
Changes in operating assets and liabilities:    
Accounts receivable, net 22,509 (6,042)
Contract assets 593 (299)
Inventories, net (4,855) (3,123)
Prepaid and other assets 187 (721)
Accounts payable 920 4,618
Accrued expenses and other liabilities (7,156) (6,611)
Contract liabilities 216 (1,282)
Net cash provided by (used in) operating activities 8,657 (1,602)
Cash flows from investing activities:    
Maturities of marketable securities 15,250 10,421
Purchases of marketable securities (13,886) (29,377)
Capital expenditures and proceeds from sales of fixed assets (197) (1,976)
Net cash provided by (used in) investing activities 1,167 (20,932)
Cash flows from financing activities:    
Net proceeds from issuance of common stock 165 763
Repurchase of common stock 0 (8,056)
Net cash provided by (used in) financing activities 165 (7,293)
Effect of exchange rate differences on cash and cash equivalents 8 (11)
Net change in cash, cash equivalents and restricted cash 9,997 (29,838)
Cash, cash equivalents and restricted cash, beginning of year 56,458 74,461
Cash, cash equivalents and restricted cash, end of period $ 66,455 $ 44,623

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