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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Cash flows from operating activities:    
Net income $ 8,315 $ 21,360
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,635 27,205
Non-cash lease expense 6,401 6,784
Provision for doubtful accounts 723 607
Stock-based compensation 13,988 10,728
Change in fair value of contingent consideration 0 (7,514)
Gain on disposals of property and equipment (644) (408)
Other 204 0
Deferred income taxes (7,712) (7,673)
Amortization of debt issuance costs 370 365
Changes in operating assets and liabilities, net of impact of acquisitions:    
Billed receivables (4,674) 10,882
Unbilled receivables (25,042) (9,842)
Prepaid expenses and other assets (1,619) (4,691)
Accounts payable 4,555 (8,164)
Accrued liabilities and other long-term liabilities (11,507) (5,698)
Billings in excess of costs and estimated earnings on uncompleted contracts (7,384) (7,606)
Contingent consideration (1,455) (1,307)
Other current liabilities 88 474
Net cash provided by operating activities 8,242 25,502
Cash flows from investing activities:    
Cash paid for acquisitions (net of cash received from acquisitions) (53,947) (186,242)
Proceeds from sale of assets 249 295
Purchase of property and equipment (8,905) (10,239)
Net cash used in investing activities (62,603) (196,186)
Cash flows from financing activities:    
Borrowings from Senior Credit Facility 58,000 180,000
Payments on notes payable and other obligations (5,274) (5,131)
Payments of contingent consideration (1,585) (793)
Payments of borrowings from Senior Credit Facility (12,000) (13,000)
Net cash provided by financing activities 39,141 161,076
Effect of exchange rate changes on cash and cash equivalents (249) (106)
Net decrease in cash and cash equivalents (15,469) (9,714)
Cash and cash equivalents – beginning of period 44,824 38,541
Cash and cash equivalents – end of period 29,355 28,827
Non-cash investing and financing activities:    
Contingent consideration (earn-out) 4,339 325
Notes payable and other obligations issued for acquisitions 400 7,404
Stock issuance for acquisitions 3,958 14,471
Reclassification of liability-classified awards to equity-classified awards 2,429 1,697
Finance leases 1,663 232
Payment of contingent consideration with common stock $ 600 $ 0