|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| Operating activities |
|
|
|
| Net income (loss) |
$ 8,156 |
$ 3,503 |
$ (3,723) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
|
| Depreciation expense |
2,547 |
2,201 |
1,714 |
| Amortization of intangible assets |
491 |
319 |
271 |
| Provision for doubtful accounts |
229 |
159 |
184 |
| Loss (gain) on inventory purchase commitment |
|
(380) |
1,840 |
| Loss on disposal of property and equipment |
|
|
107 |
| Stock-based compensation |
5,341 |
3,760 |
2,869 |
| Excess tax benefit from exercise of options for common stock |
(91) |
|
|
| Warrant liability expense |
|
709 |
254 |
| Changes in assets and liabilities: |
|
|
|
| Accounts receivable |
(5,331) |
(2,104) |
(2,600) |
| Inventories |
1,025 |
(2,723) |
(4,858) |
| Restricted cash |
(330) |
|
|
| Prepaid expenses and other current assets |
(323) |
111 |
(352) |
| Other assets |
(209) |
(233) |
(823) |
| Accounts payable |
1,698 |
(1,221) |
4,622 |
| Accrued liabilities |
(2,110) |
620 |
2,117 |
| Deferred revenue |
199 |
102 |
(10) |
| Other long-term liabilities |
(44) |
(1,155) |
(621) |
| Net cash provided by operating activities |
11,248 |
3,668 |
991 |
| Investing activities |
|
|
|
| Purchases of available-for-sale investments |
(89,844) |
|
|
| Proceeds from sales of available-for-sale investments |
2,850 |
|
|
| Proceeds from maturities of available-for-sale investments |
18,915 |
|
|
| Purchases of property and equipment |
(2,710) |
(3,470) |
(2,360) |
| Business acquisitions, net of cash acquired |
(1,116) |
(147) |
|
| Net cash used in investing activities |
(71,905) |
(3,617) |
(2,360) |
| Financing activities |
|
|
|
| Proceeds from issuance of common stock, net of issuance costs |
|
65,556 |
|
| Proceeds from exercise of options for common stock |
6,411 |
446 |
785 |
| Excess tax benefit from exercise of options for common stock |
91 |
|
|
| Proceeds from notes payable |
|
1,145 |
1,876 |
| Repayment of notes payable |
(1,138) |
(1,338) |
(1,037) |
| Net cash provided by financing activities |
5,364 |
65,809 |
1,624 |
| Effect of exchange rate changes on cash and cash equivalents |
(66) |
(9) |
(28) |
| Net increase (decrease) in cash and cash equivalents |
(55,359) |
65,851 |
227 |
| Cash and cash equivalents at beginning of period |
84,546 |
18,695 |
18,468 |
| Cash and cash equivalents at end of period |
29,187 |
84,546 |
18,695 |
| Supplemental disclosure of cash flow information |
|
|
|
| Cash paid for interest |
188 |
461 |
278 |
| Cash paid for taxes |
246 |
153 |
26 |
| Supplemental schedule of non-cash investing and financing activities |
|
|
|
| Options for common stock granted in connection with a business acquisition |
|
174 |
|
| Elimination of liability upon net exercise of warrants to purchase preferred stock |
|
1,310 |
|
| Conversion of redeemable convertible preferred stock to common stock |
|
116,313 |
|
| Landlord paid tenant improvements |
739 |
|
|
| Purchases of property and equipment financed by accounts payable |
257 |
|
|
| Net unrealized losses on available-for-sale investments |
$ (47) |
|
|