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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 43,436,000 $ 42,016,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,981,000 9,511,000
Share-based compensation 6,857,000 6,217,000
Provision for credit losses 5,036,000 3,770,000
Fair value of contingent consideration 0 (121,000)
Debt origination costs amortization 888,000 829,000
Loss on debt extinguishment 272,000 0
Deferred income tax benefit, net (1,110,000) (959,000)
Non-cash lease expense 5,265,000 5,965,000
Loss on disposal of property and equipment 1,315,000 1,479,000
Total adjustments 28,504,000 26,691,000
Changes in operating assets and liabilities:    
Accounts receivable, net 23,919,000 (36,190,000)
Prepaid wires, net (5,661,000) 12,037,000
Prepaid expenses and other assets 5,469,000 (3,353,000)
Wire transfers and money orders payable, net (17,232,000) 39,740,000
Lease liabilities (4,036,000) (5,424,000)
Accounts payable and accrued and other liabilities (16,431,000) 6,923,000
Net cash provided by operating activities 57,968,000 82,440,000
Cash flows from investing activities:    
Purchases of property and equipment (26,060,000) (7,711,000)
Cash used in business acquisition, net of cash and cash equivalents acquired (1,249,000) (5,477,000)
Acquisition of agent locations 550,000 0
Net cash used in investing activities (27,859,000) (13,188,000)
Cash flows from financing activities:    
Repayments of term loan facility (75,469,000) (3,828,000)
Borrowings under revolving credit facility 936,450,000 48,000,000
Repayments under revolving credit facility (912,250,000) 0
Debt origination costs (3,066,000) (701,000)
(Payments) proceeds from exercise of stock options (823,000) 956,000
Payments for stock-based awards (1,136,000) (979,000)
Repurchases of common stock (54,940,000) (40,621,000)
Net cash (used in) provided by financing activities (111,234,000) 2,827,000
Effect of exchange rate changes on cash and cash equivalents (1,467,000) 875,000
Net (decrease) increase in cash and cash equivalents (82,592,000) 72,954,000
Cash and cash equivalents, beginning of period 239,203,000 149,493,000
Cash and cash equivalents, end of period 156,611,000 222,447,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 7,939,000 6,737,000
Cash paid for income taxes 24,304,000 18,981,000
Supplemental disclosure of non-cash investing activities:    
Lease liabilities arising from obtaining right-of-use assets 2,089,000 5,325,000
Contingent consideration liability 0 600,000
Settlement of receivable balance from LAN Holdings 0 2,534,000
Supplemental disclosure of non-cash financing activities:    
Issuance of common stock for cashless exercise of options $ 4,359,000 $ 0