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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Cash flows from operating activities          
Net income (loss) $ (5,330) $ (1,353) $ (33,262) $ 11,534  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:          
Depreciation and amortization 26,483 29,191 52,623 57,780  
Stock based compensation     10,570 9,016  
Amortization of debt issuance costs     1,423 1,411  
Loss on business disposition 149   10,027    
Other loss 118 150 118 150  
Fair value change in tax receivable agreement liability (4,056) (19,450) 482 (44,070)  
Fair value change in contingent consideration   (1,050)   (3,950)  
Payment of contingent consideration liability in excess of acquisition-date fair value       (8,896)  
Deferred tax expense     3,306 6,888  
Change in accounts receivable     (1,858) 1,838  
Change in prepaid expenses and other     4,842 (1,172)  
Change in operating lease ROU assets     87 (827)  
Change in accounts payable     (3,388) 1,491  
Change in related party payable       77  
Change in accrued expenses and other     (2,957) (5,347)  
Change in operating lease liabilities     (34) 892  
Change in other liabilities     (1,195) 245  
Net cash provided by operating activities     40,784 27,060  
Cash flows from investing activities          
Purchases of property and equipment     (114) (1,824)  
Purchases of intangible assets     (23,600) (14,825)  
Proceeds from sale of business, net of cash retained     40,273    
Net cash provided by (used in) investing activities     16,559 (16,649)  
Cash flows from financing activities          
Payments on long-term debt     (20,000)    
Shares repurchased under Incentive Plan and ESPP     (1,376) (1,840)  
Treasury shares repurchased       (1,145)  
Distributions to Members     (609) (386)  
Payment of contingent consideration liability up to acquisition-date fair value     (1,000) (3,851)  
Net cash used in financing activities     (22,985) (7,222)  
Increase in cash, cash equivalents and restricted cash     34,358 3,189  
Cash, cash equivalents and restricted cash at beginning of period     93,563 76,340 $ 76,340
Cash, cash equivalents and restricted cash at end of period $ 127,921 $ 79,529 127,921 79,529 $ 93,563
Cash paid during the year for:          
Interest     $ 647 $ 628