v3.21.1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net income $ 39,500 $ 21,243
Adjustments to reconcile net income to net cash used in operating activities:    
Stock-based compensation expense 2,639 2,024
Depreciation and amortization 239 171
Noncash interest expense 60  
Net amortization and accretion of discount on short-term investments and term loan 85 (138)
Changes in assets and liabilities:    
Accounts receivable, net (126,222) 451
Inventories (5,272) (242)
Prepaid and other current assets 5,774 338
Other assets 6 35
Right-of-use assets 1,976 1,934
Accounts payable 1,394 (1,945)
Accrued compensation (2,997) (3,312)
Accrued research and development 479 735
Other accrued liabilities 61 209
Lease liability (2,059) (1,417)
Deferred revenue 6,482 (23,081)
Other current and long-term liabilities 57,900 (98)
Net cash used in operating activities (19,955) (3,093)
Investing activities    
Purchases of short-term investments (4,297) (13,352)
Maturities of short-term investments 11,900 38,420
Capital expenditures (71) (607)
Net cash provided by investing activities 7,532 24,461
Financing activities    
Net proceeds from issuances of common stock upon exercise of options 2,097 1,336
Net cash provided by financing activities 2,097 1,336
Net (decrease) increase in cash and cash equivalents (10,326) 22,704
Cash and cash equivalents at beginning of period 30,373 22,521
Cash and cash equivalents at end of period 20,047 45,225
Supplemental disclosure of cash flow information    
Interest paid $ 358 $ 203

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