v3.23.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net income $ 2,659 $ 5,095
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,388 10,232
Stock-based compensation expense 3,695 4,397
Deferred taxes (3,096) (3,213)
Interest on finance lease obligations 287 0
Other (46) 79
Changes in operating assets and liabilities:    
Accounts receivable (2,328) (6,329)
Inventories (641) (675)
Prepaid expenses and other 1,464 1,110
Income taxes 5,160 4,519
Accounts payable 2,536 (326)
Accrued liabilities and other 3,500 2,894
Net cash provided by operating activities 22,578 17,783
Investing activities    
Purchases of property, equipment and other capital assets (3,441) (3,069)
Proceeds from sales of property, equipment and other capital assets 194 0
Purchases of marketable securities 0 (29,366)
Proceeds from call redemptions and maturities of marketable securities 7,630 6,600
Net cash provided by (used in) investing activities 4,383 (25,835)
Financing activities    
Proceeds from exercises of stock options 0 6
Purchases of shares withheld for tax obligations (401) (468)
Repurchases of common stock (21,119) 0
Principal repayments of finance lease obligations (82) (139)
Net cash used in financing activities (21,602) (601)
Effect of exchange rate changes on cash and cash equivalents 134 (37)
Net increase (decrease) in cash and cash equivalents 5,493 (8,690)
Cash and cash equivalents, beginning of period 56,558 65,929
Cash and cash equivalents, end of period $ 62,051 $ 57,239