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Consolidated Statement of Cash Flows
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Cash flows from operating activities      
Net income for the year $ 120,815,000 $ 94,104,000 $ 121,191,000
Adjustments to net income for the year      
Depreciation expense 4,747,000 3,825,000 1,783,000
Amortization expense 22,370,000 17,379,000 6,973,000
Net financial investment income (2,120,000) (2,345,000) (355,000)
Unrealized (gains)/losses on long-term investments 2,952,000 (5,322,000) (226,000)
Unrealized (gains)/losses on warrant liability (690,000) (3,115,000) 0
Unrealized (gains)/losses on other derivative financial instruments 3,934,000 (2,990,000) 0
Unrealized (gains)/losses on asset-linked receivable (3,503,000) 0 0
Contingent consideration adjustments (9,422,000) (12,322,000) 0
Gross obligation under put - unwinding 11,666,000 3,533,000 0
Deferred consideration adjustments 788,000 729,000 0
Gain on associate derecognition (4,199,000) 0 0
Interest expense on lease liabilities 1,243,000 1,807,000 1,022,000
Deferred income taxes expense (13,316,000) 1,565,000 (1,311,000)
Current income taxes expense 10,500,000 6,784,000 1,692,000
Share of equity accounted earnings 753,000 2,351,000 0
Share based incentive plan 1,465,000 731,000 764,000
Other non-cash effects 621,000 439,000 635,000
Changes in operating assets and liabilities      
Accounts receivable (12,602,000) (23,067,000) (62,745,000)
Projects advances (12,589,000) (2,896,000) (2,173,000)
Recoverable taxes 1,909,000 (2,423,000) (2,570,000)
Recoverable taxes 2,469,000 (12,877,000) 27,596,000
Carried interest allocation 19,234,000 868,000 11,582,000
Deferred consideration payable on acquisition 22,229,000 24,444,000 2,037,000
Taxes payable and deferred taxes (4,493,000) (8,620,000) 1,182,000
Payment of income taxes (3,254,000) (621,000) (221,000)
Other assets and liabilities 1,816,000 1,238,000 1,905,000
Payment of placement agent fees (6,598,000) (5,263,000) (1,200,000)
Net cash provided by operating activities 156,725,000 77,936,000 107,561,000
Cash flows from investing activities      
Cash flows from (used in) decrease (increase) in short-term deposits and investments 31,076,000 108,855,000 (141,745,000)
Decrease (increase) in long-term investments (9,793,000) (12,069,000) (17,873,000)
Investment into SPAC trust account (2,100,000) (236,900,000) 0
Proceeds from redemptions from the SPAC trust account 65,164,000 0 0
Payment of business acquisition payable 0 (16,437,000) 0
Acquisition of property and equipment (5,870,000) (5,439,000) (1,551,000)
Acquisition of software and computer programs (992,000) (1,273,000) (292,000)
Acquisition of investments in associates (528,000) (7,789,000) 0
Acquisition of contractual rights (8,158,000) 0 0
Acquisition of subsidiaries, net of cash acquired (6,633,000) (18,295,000) (122,767,000)
Net cash provided by/used in investing activities 62,166,000 (189,347,000) (284,228,000)
Cash flows from financing activities      
IPO proceeds 0 0 302,722,000
IPO transaction costs 0 0 (3,204,000)
IPO proceeds – SPAC 0 230,000,000 0
IPO transaction costs – SPAC 0 (4,665,000) 0
Proceeds from non-current borrowings 25,000,000 0 0
Repayments of non-current borrowings (26,253,000) 0 0
Redemptions from SPAC shareholders (65,164,000) 0 0
Dividends paid to the Company’s shareholders (145,145,000) (103,329,000) (119,788,000)
Dividends paid to non-controlling interests in subsidiaries (3,639,000) 0 0
Capital contributions received from non-controlling interest (NCI) shareholders 3,657,000 0 0
Payment of acquisition payable (14,684,000) 0 0
Lease payments (2,156,000) (1,652,000) (832,000)
Interest paid on lease liabilities (1,243,000) (1,807,000) (1,007,000)
Cash flows from (used in) financing activities (229,627,000) 118,547,000 177,891,000
Effect of exchange rate changes on cash and cash equivalents 267,000 1,004,000 (12,000)
Increase (decrease) in cash and cash equivalents after effect of exchange rate changes (10,469,000) 11,255,000 1,212,000
Cash and cash equivalents at beginning of period 26,519,000 15,264,000 14,052,000
Cash and cash equivalents at end of period 16,050,000 26,519,000 15,264,000
Other Adjustments For Noncash Items [Abstract]      
Transfer of long-term investment with a corresponding decrease in liability 0 0 300,000
Addition and disposal of right of use assets 1,860,000 5,009,000 8,783,000
IPO transaction costs decrease in assets with corresponding decrease in equity 0 0 624,000
IPO transaction costs accrual increase in liability with corresponding decrease in equity 0 0 427,000
Changes in interest of subsidiaries 0 0 385,000
Acquisition of subsidiaries through share issuance of Company’s Class A common shares 0 0 184,789,000
Contingent consideration payable on acquisition 4,707,000 9,072,000 25,775,000
Consideration payable on acquisition 29,748,000 18,156,000 16,437,000
Gross obligation under put option 11,338,000 73,428,000  
SPAC Private Placement Warrants issued by SPAC to Sponsor 0 9,251,000 0
Commitment subject to possible redemption raised 0 220,458,000 0
Amortization of SPAC issuance costs to accrete SPAC Class A ordinary shares to redemption value 6,166,000 10,276,000 0
Interest earned on SPAC trust account subject to redemption 10,109,000 3,411,000 0
Capital contribution from NCI shareholders in lieu of dividend payable to NCI shareholders 1,086,000 0 0
Company Class A common shares issued 15,514,000 0 0
VBI      
Other Adjustments For Noncash Items [Abstract]      
Gross obligation under put option 0 65,544,000 0
Igah      
Other Adjustments For Noncash Items [Abstract]      
Gross obligation under put option $ 0 $ 7,666,000 $ 0