Six Months Ended June 30, 2018 and 2017
| Six Months Ended June 30, | |||||||
| (in thousands) | 2018 | 2017 | |||||
| Cash flows from operating activities: | |||||||
| Net loss | $ | (29,573 | ) | $ | (17,909 | ) | |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 29,948 | 30,575 | |||||
| Stock-based compensation | 13,734 | 14,450 | |||||
| Impairment of assets | 1,411 | — | |||||
| Provision for bad debts | 1,356 | 166 | |||||
| Provision for deferred income taxes | (2,287 | ) | (1,580 | ) | |||
| Changes in operating accounts, net of acquisitions: | |||||||
| Accounts receivable | (3,384 | ) | 5,549 | ||||
| Inventories | (14,937 | ) | (9,766 | ) | |||
| Prepaid expenses and other current assets | (6,739 | ) | (2,345 | ) | |||
| Accounts payable | 2,762 | 4,343 | |||||
| Accrued and other current liabilities | 19,208 | (6,727 | ) | ||||
| All other operating activities | (2,328 | ) | 1,823 | ||||
| Net cash provided by operating activities | 9,171 | 18,579 | |||||
| Cash flows from investing activities: | |||||||
| Cash paid for acquisitions, net of cash assumed | — | (34,291 | ) | ||||
| Purchases of property and equipment | (18,095 | ) | (11,243 | ) | |||
| Additions to license and patent costs | (523 | ) | (571 | ) | |||
| Other investing activities | — | (1,650 | ) | ||||
| Proceeds from disposition of property and equipment | 9 | 271 | |||||
| Net cash used in investing activities | (18,609 | ) | (47,484 | ) | |||
| Cash flows from financing activities: | |||||||
| Payments on earnout consideration | (2,675 | ) | (3,206 | ) | |||
| Payments related to net-share settlement of stock-based compensation | (1,804 | ) | (1,970 | ) | |||
| Repayment of capital lease obligations | (344 | ) | (290 | ) | |||
| Net cash used in financing activities | (4,823 | ) | (5,466 | ) | |||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (2,502 | ) | 3,602 | ||||
| Net decrease in cash, cash equivalents and restricted cash | (16,763 | ) | (30,769 | ) | |||
| Cash, cash equivalents and restricted cash at the beginning of the period (a) | 136,831 | 185,248 | |||||
| Cash, cash equivalents and restricted cash at the end of the period (a) | $ | 120,068 | $ | 154,479 | |||
- The amounts for cash and cash equivalents shown above include restricted cash of $755 and $488 as of June 30, 2018 and 2017, respectively, and $487 and $301 as of December 31, 2017, and 2016, respectively, which were included in other assets, net in the condensed consolidated balance sheets.
3D Systems Corporation
