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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2021
Sep. 30, 2021
Dec. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:            
Net income (loss) $ (137,008) $ (47,153) $ 89,856 $ (184,161) $ 89,591  
Adjustments to reconcile net income (loss) to net cash, cash equivalents, and restricted cash used in operating activities:            
Depreciation and amortization       11,278 6,937  
Loss on disposal of property, equipment, and software 5   79 355 162  
Share-based compensation expense       4,109 2,259  
Deferred income taxes       (62,940) 24,879  
Amortization of debt issuance costs and debt discount       2,974 1,644  
Fair value adjustments to contingent earnout obligations     395 0 1,153  
Non-cash lease expense       2,040 1,887  
Changes in operating assets and liabilities:            
Accounts receivable       (43,429) (61,251)  
Commissions receivable       (39,908) (219,132)  
Other assets       (5,555) 1,906  
Accounts payable and accrued expenses       15,135 15,692  
Operating lease liabilities       (2,676) (1,245)  
Other liabilities       (2,963) 32,370  
Net cash used in operating activities       (305,741) (103,148)  
CASH FLOWS FROM INVESTING ACTIVITIES:            
Purchases of property and equipment       (17,904) (5,768)  
Purchases of software and capitalized software development costs       (5,231) (3,449)  
Acquisition of business       (6,927) 121  
Investment in equity securities       (1,000) 0  
Net cash used in investing activities       (31,062) (9,096)  
CASH FLOWS FROM FINANCING ACTIVITIES:            
Proceeds from revolving line of credit       50,000 0  
Payments on revolving line of credit       (50,000) 0  
Net proceeds from Term Loans       242,000 0  
Payments on other debt       (93) (108)  
Proceeds from common stock options exercised and employee stock purchase plan 100   100 2,271 391  
Payments of tax withholdings related to net share settlement of equity awards       (144) (5,320)  
Payments of debt issuance costs       (328) 0  
Net cash provided by financing activities       243,706 (10,719)  
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH       (93,097) (122,963)  
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—Beginning of period   $ 286,454   286,454 368,870 $ 368,870
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—End of period 193,357   245,907 193,357 245,907 286,454
Reconciliation to the Consolidated Balance Sheets:            
Cash and cash equivalents 193,357   209,739 193,357 209,739 286,454
Restricted cash 0   36,168 0 36,168  
Total cash, cash equivalents, and restricted cash $ 193,357   $ 245,907 193,357 245,907 $ 286,454
SUPPLEMENTAL CASH FLOW INFORMATION:            
Interest paid, net       (15,447) (11,953)  
Income taxes paid, net       (19) (86)  
Private Placement            
CASH FLOWS FROM FINANCING ACTIVITIES:            
Payments of stock issuance costs       0 (1,771)  
IPO            
CASH FLOWS FROM FINANCING ACTIVITIES:            
Payments of stock issuance costs       $ 0 $ (3,911)