Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 7,892 $ 16,416
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts 0 45
Depreciation and amortization 14,219 11,816
Noncash lease expense 5,420 4,417
Share-based compensation expense 4,788 4,893
Loss on disposal or sale of property and equipment 1,570 0
Deferred income taxes (1,662) (8,525)
Purchase of trading investment securities (141) 0
Proceeds from sale of trading investment securities 97 97
Realized and unrealized gains on investments (124) (140)
Foreign exchange (gains) losses 1,700 (970)
Changes in operating assets and liabilities:    
Accounts receivable (1,121) 4,921
Inventories 5,562 995
Prepaid expenses and other 528 (683)
Other assets (560) 679
Accounts payable 1,085 1,422
Accrued volume incentives and service fees (1,565) 1,242
Accrued liabilities (5,512) 6,991
Deferred revenue 1,041 (456)
Lease liabilities (5,568) (4,707)
Income taxes payable (2,938) 2,627
Liability related to unrecognized tax positions 419 103
Deferred compensation payable 168 43
Net cash provided by operating activities 25,298 41,226
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (10,971) (10,478)
Net cash used in investing activities (10,971) (10,478)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit facility 40,991 16,294
Principal payments of revolving credit facility (40,991) (16,294)
Principal payments of long-term debt 0 (1,174)
Payments related to tax withholding for net-share settled equity awards (1,046) (385)
Repurchase of common stock (8,859) (6,397)
Net cash used in financing activities (9,905) (7,956)
Effect of exchange rates on cash and cash equivalents (2,095) (451)
Net increase in cash and cash equivalents 2,327 22,341
Cash and cash equivalents at beginning of the year 82,373 60,032
Cash and cash equivalents at end of the year 84,700 82,373
Supplemental disclosure of cash flow information:    
Cash paid for income taxes, net of refunds 14,788 9,264
Cash paid for interest 119 539
Supplemental disclosure of noncash investing, and financing activities:    
Purchases of property, plant and equipment included in accounts payable and accrued liabilities $ 201 $ 590