Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 21,136 $ 35,488
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 17,307 14,945
Stock-based compensation expense 5,361 5,519
(Gain) loss on sale of assets, net (63) 459
Amortization of debt issuance costs 419 419
Non-cash lease expense 10,739 9,606
Deferred income tax 5,428 5,018
Changes in assets and liabilities:    
Accounts receivable, net 3,009 146
Other receivables 1,128 10,108
Inventory, net 946 (665)
Prepaid expenses and other current assets 1,850 901
Accounts payable 2,553 5,679
Accrued expenses 5,155 3,635
Deferred revenue 1,114 648
Operating lease liability (9,696) (9,094)
Other noncurrent assets and liabilities 631 (1,268)
Net cash provided by operating activities 67,017 81,544
Cash flows from investing activities:    
Purchases of property and equipment (72,059) (30,015)
Proceeds from sale of property and equipment 8,899 1
Net cash used in investing activities (63,160) (30,014)
Cash flows from financing activities:    
Proceeds from issuance of common stock under employee plans 1,055 1,281
Payments on debt borrowings 0 (2,100)
Principal payments on finance lease obligations (161) (134)
Net cash provided (used) by financing activities 894 (953)
Net change in cash and cash equivalents, and restricted cash during period 4,751 50,577
Cash and cash equivalents and restricted cash at beginning of period 65,222 19,858
Cash and cash equivalents and restricted cash at end of period 69,973 70,435
Supplemental disclosure of cash flow information:    
Cash paid for interest 11,697 7,821
Cash paid for income taxes 151 0
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment in accounts payable 11,993 18,123
Property and equipment in other accrued expenses 5,969 0
Stock option exercise proceeds in other receivables $ 61 $ 45