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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 12,106 $ 11,762
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,228 2,903
Share-based compensation 2,153 1,698
Provision for credit losses 1,595 785
Debt origination costs amortization 301 246
Deferred income tax benefit, net (502) (623)
Non-cash lease expense 1,802 2,064
Loss on disposal of property and equipment 400 398
Total adjustments 8,977 7,471
Changes in operating assets and liabilities:    
Accounts receivable, net 4,485 26,432
Prepaid wires, net 4,518 (15,433)
Prepaid expenses and other assets 5,347 3,217
Wire transfers and money orders payable, net 11,821 (21,593)
Lease liabilities (1,355) (2,473)
Accounts payable and accrued and other liabilities 2,337 (8,225)
Net cash provided by operating activities 48,236 1,158
Cash flows from investing activities:    
Purchases of property and equipment (13,480) (2,119)
Net cash used in investing activities (13,480) (2,119)
Cash flows from financing activities:    
Repayments of term loan facility (1,641) (1,094)
Borrowings under revolving credit facility, net (28,500) (55,000)
Proceeds from exercise of stock options 98 723
Payments for stock-based awards (1,598) (834)
Repurchases of common stock (23,423) (7,584)
Net cash used in financing activities (55,064) (63,789)
Effect of exchange rate changes on cash and cash equivalents (100) 710
Net decrease in cash and cash equivalents (20,408) (64,040)
Cash and cash equivalents, beginning of period 239,203 149,493
Cash and cash equivalents, end of period 218,795 85,453
Supplemental disclosure of cash flow information:    
Cash paid for interest 2,405 2,001
Cash paid for income taxes 4,120 145
Supplemental disclosure of non-cash investing activities:    
Lease liabilities arising from obtaining right-of-use assets 87 552
Supplemental disclosure of non-cash financing activities:    
Issuance of common stock for cashless exercise of options $ 3,220 $ 0