Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities    
Net income $ 14,255,000 $ 10,389,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,353,000 639,000
Amortization of discount on investments (218,000) (11,000)
Deferred taxes (80,000) 0
Stock-based compensation 660,000 440,000
Changes in operating assets and liabilities, net of acquired amounts:    
Accounts receivable (549,000) 3,108,000
Inventories, net (6,505,000) (16,049,000)
Other assets (176,000) (300,000)
Accounts payable and accrued expenses (7,637,000) 1,750,000
Net cash provided by (used in) operating activities 1,103,000 (34,000)
Cash flows from investing activities    
Purchases of property, plant and equipment and intangible assets (2,213,000) (2,051,000)
Purchases of investments (98,881,000) (248,000)
Proceeds from maturities of investments 0 1,980,000
Net cash used in investing activities (101,094,000) (319,000)
Cash flows from financing activities    
Repayment of long-term debt (16,700,000) 0
Proceeds from issuance of common stock under employee stock purchase plan 299,000 249,000
Repurchase of shares for payment of withholding taxes for stock grants (954,000) (274,000)
Withholding related to exercise of stock options (342,000) (156,000)
Issuance of stock under equity compensation plans 954,000 0
Net proceeds from issuance of common stock 130,262,000 0
Net cash provided by (used in) financing activities 113,519,000 (181,000)
Effect of exchange rates on cash 135,000 0
Increase (decrease) in cash and cash equivalents 13,663,000 (534,000)
Cash and cash equivalents, beginning of year 16,650,000 13,216,000
Cash and cash equivalents, end of year 30,313,000 12,682,000
Supplemental disclosures for cash flow information    
Cash paid during the year for income taxes 0 0
Cash paid for interest 205,000 0
Non-cash financing activities    
Cashless exercise of stock options $ 431,000 $ 93,000