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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities:    
Net income $ 8,113 $ 4,144
Adjustments to net income:    
Provision for credit losses 734 938
Deferred taxes 692 1,058
Stock-based compensation 1,717 1,034
Depreciation 578 553
Amortization of acquisition-related intangibles 3,672 3,057
Amortization of software development costs 526 73
Amortization of deferred finance costs 73 73
Gain on contingent consideration (1,250) 0
Changes in operating assets and liabilities:    
Accounts receivable (2,020) (2,183)
Financing receivables 1,810 1,994
Inventories 288 (258)
Prepaid expenses and other (2,316) 321
Accounts payable (1,140) (974)
Deferred revenue 2,602 703
Other liabilities (2,951) 3,576
Prepaid income taxes 689 (399)
Net cash provided by operating activities 11,817 13,710
Investing Activities:    
Purchase of business, net of cash acquired (43,362) 0
Investment in software development (4,291) (872)
Purchase of property and equipment (27) (493)
Net cash used in investing activities (47,680) (1,365)
Financing Activities:    
Payments of long-term debt principal (937) (937)
Proceeds from revolving line of credit 48,000 0
Payments of revolving line of credit (5,000) (5,000)
Treasury stock purchases (1,650) (1,063)
Net cash provided by (used in) financing activities 40,413 (7,000)
Increase in cash and cash equivalents 4,550 5,345
Cash and cash equivalents at beginning of period 11,431 12,671
Cash and cash equivalents at end of period 15,981 18,016
Supplemental disclosure of cash flow information:    
Cash paid for interest 843 554
Cash paid for income taxes, net of refund $ 48 $ 298