Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2018 |
Jun. 30, 2017 |
| Cash flows used in operating activities: |
|
|
| Net income (loss) |
$ 2,339
|
$ (1,522)
|
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
|
|
| Depreciation and amortization |
2,367
|
2,427
|
| Warrants to customers |
1,533
|
2,353
|
| Share-based compensation |
2,380
|
1,948
|
| Amortization of premium on marketable securities |
241
|
277
|
| Realized gain on sale of marketable securities |
|
(29)
|
| Increase in accrued severance pay, net |
109
|
28
|
| Decrease (increase) in trade receivables |
(10,141)
|
2,894
|
| Decrease (increase) in other receivables and prepaid expenses |
(522)
|
747
|
| Decrease (increase) in inventories |
9,044
|
(8,652)
|
| Change in deferred taxes, net |
(219)
|
(183)
|
| Decrease (increase) in other assets |
(97)
|
194
|
| Decrease in trade payables |
(2,192)
|
(2,060)
|
| Increase (decrease) in employees and payroll accruals |
759
|
(833)
|
| Increase (decrease) in deferred revenues and advances from customers |
412
|
(692)
|
| Increase in other payables and accrued expenses |
203
|
122
|
| Increase in other long-term liabilities |
175
|
369
|
| Loss from sale of property and equipment |
|
29
|
| Foreign currency translation loss (gain) on inter company balances with foreign subsidiaries |
293
|
(595)
|
| Net cash provided by (used in) operating activities |
6,684
|
(3,178)
|
| Cash flows used in investing activities: |
|
|
| Purchase of property and equipment |
(1,244)
|
(3,431)
|
| Investments in bank deposits, net |
(3,000)
|
|
| Proceeds from maturity of marketable securities |
2,150
|
6,740
|
| Proceeds from sale of marketable securities |
|
38,312
|
| Purchase of marketable securities |
(6,130)
|
(70,648)
|
| Net cash used in investing activities |
(8,224)
|
(29,027)
|
| Cash flows provided by financing activities: |
|
|
| Proceeds from issuance of ordinary shares in a follow-on offering, net |
|
35,077
|
| Exercise of employee stock options |
1,067
|
1,347
|
| Payment of contingent consideration |
(900)
|
(1,400)
|
| Net cash provided by financing activities |
167
|
35,024
|
| Foreign currency translation adjustments on cash and cash equivalents |
(33)
|
99
|
| Increase (decrease) in cash and cash equivalents |
(1,373)
|
2,819
|
| Cash and cash equivalents at the beginning of the period |
18,629
|
22,789
|
| Cash and cash equivalents at the end of the period |
17,223
|
25,707
|
| Supplemental disclosure of non-cash investing and financing activities: |
|
|
| Property and equipment acquired in credit |
200
|
863
|
| Inventory transferred to be used as property and equipment |
591
|
167
|
| Receipts on account of shares |
$ 20
|
$ 167
|