v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 4,172 $ 8,006 $ 2,640
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 25,904 20,346 15,804
Amortization of intangible assets 9,817 9,925 5,928
Non-cash stock-based compensation 10,212 10,000 6,955
Non-cash operating lease expense 6,168 5,635 0
Amortization of convertible debt discount 4,358 0 0
Amortization of debt issuance costs 165 390 542
Loss on debt extinguishment 1,400 1,018 0
Loss on termination of cash flow hedge 3,506 0 0
Unrealized gain on investment in non-consolidated affiliate, net (3,955) 0 0
Other non-cash items 1,460 472 404
Changes in assets and liabilities, net:      
Accounts receivable, net (12,601) (17,301) 209
Inventories (15,197) (5,754) 734
Prepaid lease asset (20,229) 0 0
Prepaid and other assets (9,750) (367) (1,834)
Accounts payable, accrued and other liabilities (3,970) (9,001) 13,404
Net cash provided by operating activities 1,460 23,369 44,786
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of marketable securities (73,101) 0 0
Proceeds from sales and maturities of marketable securities 5,356 0 0
Purchases of property and equipment (29,096) (20,029) (14,310)
Business acquisition (37,000) 0 (125,377)
Investment in non-consolidated affiliate (25,600) 0 0
Acquisition working capital adjustment 0 399 0
Net cash used in investing activities (159,441) (19,630) (139,687)
CASH FLOWS FROM FINANCING ACTIVITIES      
Advances on revolving credit facility 0 0 15,000
Repayment of revolving credit facility 0 (5,000) (35,400)
Redemption of preferred stock 0 0 (50,096)
Repayment of equipment financing obligations (5,615) (7,201) (6,563)
Proceeds from term loan 0 100,000 30,000
Repayment of term loan (97,540) (99,250) (4,500)
Cash flow hedge termination (3,317) 0 0
Payments of debt issuance costs for term loan 0 (1,059) (576)
Issuance of common stock, net 20,310 11,202 9,023
Proceeds from issuance of convertible debt, net of issuance costs 194,466 0 0
Proceeds from equity offering, net of issuance costs 127,293 160,774 135,071
Net cash provided by financing activities 235,597 159,466 91,959
Effects of foreign exchange rate changes on cash and cash equivalents 0 0 (68)
Net change in cash and cash equivalents 77,616 163,205 (3,010)
Cash and cash equivalents, beginning of year 173,016 9,811 12,821
Cash, cash equivalents and restricted cash, end of year 250,632 173,016 9,811
Cash and cash equivalents 228,713 173,016 9,811
Restricted cash 21,919 0 0
Supplemental disclosure of cash flow information:      
Interest paid 2,926 4,775 6,511
Income taxes paid (refunded), net 246 319 (31)
Supplemental disclosure of non-cash investing and financing information:      
Fair value of common stock issued to fund acquisition 0 0 13,243
Working capital adjustment related to acquisition 0 1,977 0
Equipment acquired under financing obligations 428 4,283 7,569
Property and equipment included in accounts payable $ 2,007 $ 1,034 $ 660

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