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CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net income $ 3,964 $ 16,059
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 48 56
Amortization of developed software 2,944 2,823
Amortization of other intangibles 80 80
Amortization of leased assets 178 282
Share-based compensation expense 2,919 3,139
Gain on fair value of private warrant liability (2,644) (15,003)
Changes in operating assets and liabilities:    
Accounts receivable, net (1,005) (1,318)
Prepaid expenses and other current assets (490) (2,683)
Other assets (96) (137)
Accounts payable and accrued liabilities 1,825 1,889
Taxes payable 1,330 1,679
Operating lease liabilities (180) (182)
Deferred revenue 317 2,835
Net Cash Provided by Operating Activities 9,190 9,519
Cash Flows from Investing Activities:    
Development of internal use software (2,020) (117)
Purchases of premises and equipment (118) 0
Net Cash Used in Investing Activities (2,138) (117)
Cash Flows from Financing Activities:    
Repayments of borrowings from Partner Bank 0 (15,572)
Recapitalization transaction 0 20,560
Repurchase of private warrants (1,977) 0
Payments related to net settlement of share-based compensation awards (225) 0
Net Cash (Used in) Provided by Financing Activities (2,202) 4,988
Net Increase in Cash and Cash Equivalents 4,850 14,390
Cash and Cash Equivalents – Beginning 25,704 2,989
Cash and Cash Equivalents – Ending 30,554 17,379
Supplementary Cash Flow Information:    
Interest paid 0 119
Noncash Operating, Investing, and Financing Activities:    
Shares issued to settle Megalith accounts payable in connection with Recapitalization transaction $ 0 $ 740