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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net income $ 19,579 $ 6,930
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 4,708 3,436
Amortization 5,432 4,829
Provision for bad debt 907 6
Stock-based compensation 18,790 12,612
Amortization of debt issuance costs 1,248 654
Deferred tax provision (3,348) 1,228
Changes in operating assets and liabilities:    
Accounts receivable (10,310) 460
Operating lease assets (ROU) 1,440 810
Prepaid expenses and other current assets (907) (867)
Other assets 245 388
Accounts payable 3,937 (552)
Income taxes payable 4,600 502
Accrued expenses and other current liabilities 2,137 (3,197)
Accrued compensation expenses (2,541) (728)
Operating lease liability (ROU) (1,922) (3,049)
Contract liabilities 7,222 12,165
Other liabilities (2,778) (1,746)
Net cash provided by operating activities 48,439 33,881
Investing activities:    
Purchases of property and equipment, and other capitalized assets, net (7,163) (6,225)
Purchases of investments (96) 0
Acquisitions of businesses, net 175 0
Net cash used in investing activities (7,084) (6,225)
Financing activities:    
Tax withholdings related to net share settlements (4,382) (370)
Purchase of treasury shares and related costs (17,492) 0
Registration fees 0 (29)
Proceeds from stock option exercises 0 16
Payment of earnout liabilities (5,206) (1,032)
Net cash used in financing activities (27,080) (1,415)
Effect of exchange rate changes on cash (1,754) 181
Net increase in cash 12,521 26,422
Cash at beginning of period 361,623 82,616
Cash at end of period 374,144 109,038
Supplemental disclosure of cash flow information:    
Cash paid for taxes, net $ 7,407 $ 5,306