Three Months Ended March 31, 2022 and 2021
| Quarter Ended March 31, | |||||||
| (in thousands) | 2022 | 2021 | |||||
| Cash flows from operating activities: | |||||||
| Net (loss) income | $ | (26,799 | ) | $ | 45,228 | ||
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||||||
| Depreciation and amortization | 9,147 | 9,102 | |||||
| Stock-based compensation | 12,658 | 11,050 | |||||
| Unrealized gain on exchange rate | (439 | ) | — | ||||
| Provision for inventory obsolescence and revaluation | (517 | ) | — | ||||
| Loss on hedge accounting de-designation and termination | — | 721 | |||||
| Provision for bad debts | 1,076 | (142 | ) | ||||
| Loss (Gain) on the disposition of businesses, property, equipment and other assets | 137 | (39,401 | ) | ||||
| Provision (benefit) for deferred income taxes and reserve adjustments | 466 | (8,889 | ) | ||||
| Asset impairment | 40 | — | |||||
| Changes in operating accounts: | |||||||
| Accounts receivable | 3,173 | 15,941 | |||||
| Inventories | (8,822 | ) | 2,699 | ||||
| Prepaid expenses and other current assets | 2,225 | (2,303 | ) | ||||
| Accounts payable | 277 | 1,665 | |||||
| Deferred revenue and customer deposits | 1,901 | 1,552 | |||||
| Accrued and other liabilities | (8,679 | ) | (17,491 | ) | |||
| All other operating activities | (969 | ) | 8,721 | ||||
| Net cash (used in) provided by operating activities | (15,125 | ) | 28,453 | ||||
| Cash flows from investing activities: | |||||||
| Purchases of property and equipment | (4,079 | ) | (3,878 | ) | |||
| Purchases of short-term investments | (366,005 | ) | — | ||||
| Sales and maturities of short-term investments | 6,170 | — | |||||
| Proceeds from sale of assets and businesses, net of cash | — | 54,747 | |||||
| Acquisitions and other investments, net | (9,335 | ) | — | ||||
| Other investing activities | 40 | (306 | ) | ||||
| Net cash (used in) provided by investing activities | (373,209 | ) | 50,563 | ||||
| Cash flows from financing activities: | |||||||
| Repayment of borrowings/long-term debt | — | (21,392 | ) | ||||
| Purchase of noncontrolling interest | (2,300 | ) | (4,000 | ) | |||
| Payments related to net-share settlement of stock-based compensation | (10,052 | ) | (2,749 | ) | |||
| Other financing activities | (166 | ) | (196 | ) | |||
| Net cash used in financing activities | (12,518 | ) | (28,337 | ) | |||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 464 | (2,434 | ) | ||||
| Net increase (decrease) in cash, cash equivalents and restricted cash | (400,388 | ) | 48,245 | ||||
| Cash, cash equivalents and restricted cash at the beginning of the period | 789,970 | 84,711 | |||||
| Cash, cash equivalents and restricted cash at the end of the period | $ | 389,582 | $ | 132,956 | |||
Appendix
