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UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net loss $ (483) $ (4,667)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 9,579 6,255
Operating lease right-of-use assets amortization expense 3,301 2,295
Bad debt expense 1,077 674
Deferred income taxes (1,516) (2,451)
Change in fair value of contingent consideration 0 (4,220)
Stock-based compensation 25,969 27,677
Other (income)/expenses, net (890) 98
Changes in assets and liabilities:    
Accounts receivable (8,649) 3,085
Unbilled receivables (1,027) (1,509)
Prepaid income taxes (5,866) (5,295)
Prepaid expenses and other current assets (2,894) 28
Accounts payable (740) (471)
Accrued compensation and benefits 3,293 6,554
Operating lease liabilities (3,352) (2,119)
Accrued income taxes 4,363 5,638
Accrued expenses and other current liabilities 965 1,965
Net cash provided by operating activities 23,130 33,537
Cash flows from investing activities    
Purchase of property and equipment (9,126) (5,593)
Acquisition of business, net of cash acquired (32,144) (17,830)
Other investing activities, net (44) 0
Net cash used in investing activities (41,314) (23,423)
Cash flows from financing activities    
Proceeds from exercises of stock options, net of shares withheld for taxes 867 491
Payments of tax obligations resulting from net share settlement of vested stock awards (8,635) (14,958)
Net cash used in financing activities (7,768) (14,467)
Effect of exchange rate changes on cash and cash equivalents (14) 1,337
Net decrease in cash and cash equivalents (25,966) (3,016)
Cash and cash equivalents, beginning of period 257,227 256,729
Cash and cash equivalents, end of period 231,261 253,713
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 8,993 9,936
Contingent consideration $ 7,480 $ 932