UNAUDITED GAAP CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Nine Months Ended | |||||||
| September 30, 2015 | September 30, 2014 | ||||||
| Operating Activities | |||||||
| Net loss | $ | (33,787 | ) | $ | (4,679 | ) | |
| Adjustments to reconcile net loss to cash provided by operating activities: | |||||||
| Amortization and depreciation | 31,162 | 3,527 | |||||
| Amortization of investment premiums, net | 261 | 578 | |||||
| Amortization of inventory step-up | 14,244 | — | |||||
| Stock-based compensation | 15,052 | 11,080 | |||||
| Deferred income taxes | (1,709 | ) | 11 | ||||
| Gain on disposal of property and equipment | (39 | ) | — | ||||
| Loss on sale of available-for-sale securities | 21 | — | |||||
| Impairment of long-lived assets | 153 | 8 | |||||
| Impairment of lease | 6,161 | — | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | 5,971 | (397 | ) | ||||
| Inventory | (10,069 | ) | 456 | ||||
| Prepaid and other assets | 700 | (402 | ) | ||||
| Accounts payable, accrued expenses and other current liabilities | (9,068 | ) | 66 | ||||
| Accrued compensation | 4,845 | 3,670 | |||||
| Deferred revenue and deferred profit | 526 | 2,234 | |||||
| Accrued price protection liability | 6,200 | 1,468 | |||||
| Other long-term liabilities | (264 | ) | 382 | ||||
| Net cash provided by operating activities | 30,360 | 18,002 | |||||
| Investing Activities | |||||||
| Purchases of property and equipment | (1,357 | ) | (7,767 | ) | |||
| Purchases of intangible assets | (100 | ) | — | ||||
| Cash used in acquisition, net of cash acquired | (3,615 | ) | — | ||||
| Purchases of available-for-sale securities | (45,680 | ) | (36,457 | ) | |||
| Maturities of available-for-sale securities | 57,508 | 35,895 | |||||
| Net cash provided by (used in) investing activities | 6,756 | (8,329 | ) | ||||
| Financing Activities | |||||||
| Repurchases of common stock | (101 | ) | — | ||||
| Net proceeds from issuance of common stock | 6,346 | 1,584 | |||||
| Minimum tax withholding paid on behalf of employees for restricted stock units | (4,528 | ) | (3,641 | ) | |||
| Equity issuance costs | (705 | ) | — | ||||
| Net cash provided by (used in) financing activities | 1,012 | (2,057 | ) | ||||
| Effect of exchange rate changes on cash and cash equivalents | (675 | ) | (11 | ) | |||
| Increase in cash and cash equivalents | 37,453 | 7,605 | |||||
| Cash and cash equivalents at beginning of period | 20,696 | 26,450 | |||||
| Cash and cash equivalents at end of period | $ | 58,149 | $ | 34,055 | |||
