|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
9 Months Ended |
|
Sep. 30, 2014
|
Sep. 30, 2013
|
| Operating activities |
|
|
| Net income |
$ 4,235 |
$ 1,233 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation expense |
1,880 |
1,609 |
| Amortization of intangible assets |
330 |
218 |
| Provision for doubtful accounts |
271 |
112 |
| Gain on inventory purchase commitment |
|
(180) |
| Stock-based compensation |
3,994 |
2,648 |
| Excess tax benefit from exercise of options for common stock |
(18) |
|
| Warrant liability expense |
|
709 |
| Changes in assets and liabilities: |
|
|
| Accounts receivable |
(4,338) |
(2,978) |
| Inventories |
(175) |
(2,947) |
| Restricted cash |
(334) |
|
| Prepaid expenses and other current assets |
(402) |
(98) |
| Other assets |
(24) |
(243) |
| Accounts payable |
956 |
2,150 |
| Accrued liabilities |
(2,072) |
(838) |
| Deferred revenue |
99 |
95 |
| Other long-term liabilities |
(26) |
(1,138) |
| Net cash provided by operating activities |
4,376 |
352 |
| Investing activities |
|
|
| Purchases of available-for-sale investments |
(86,765) |
|
| Proceeds from sales of available-for-sale investments |
2,850 |
|
| Proceeds from maturities of available-for-sale investments |
11,915 |
|
| Purchases of property and equipment |
(2,148) |
(2,575) |
| Business acquisitions, net of cash acquired |
(1,116) |
(88) |
| Net cash used in investing activities |
(75,264) |
(2,663) |
| Financing activities |
|
|
| Proceeds from issuance of common stock, net of issuance costs |
|
65,556 |
| Proceeds from exercise of options for common stock |
4,630 |
367 |
| Excess tax benefit from exercise of options for common stock |
18 |
|
| Proceeds from notes payable |
|
1,145 |
| Repayment of notes payable |
(847) |
(986) |
| Net cash provided by financing activities |
3,801 |
66,082 |
| Effect of exchange rate changes on cash and cash equivalents |
(9) |
19 |
| Net decrease in cash and cash equivalents |
(67,096) |
63,790 |
| Cash and cash equivalents at beginning of period |
84,546 |
18,695 |
| Cash and cash equivalents at end of period |
17,450 |
82,485 |
| Supplemental disclosure of cash flow information |
|
|
| Cash paid for interest |
150 |
419 |
| Cash paid for taxes |
227 |
131 |
| 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 |