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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities    
Net income $ 26,736 $ 2,840
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 3,384 3,141
Share-based compensation 7,330 6,049
Loss on disposal of asset 1 196
Unrealized foreign exchange (gain) loss (3,573) 3,965
Income tax (recovery) expense (3,023) 2,006
Finance income, net (2,404) (8,737)
Changes in non-cash working capital items:    
Trade and other receivables (4,472) (3,732)
Prepaids and deposits (2,892) 555
Contract costs, net (3,454) (6,264)
Trade and other payables 4,518 5,529
Employee benefit obligations 246 362
Deferred revenue 7,144 10,938
Income taxes paid (292) (884)
Cash from operating activities 29,249 15,964
Cash flows used in investing activities    
Purchase of property and equipment (1,245) (635)
Payments related to acquisitions (250) (216)
Acquisition of business, net of cash acquired 0 (8,671)
Cash used in investing activities (1,495) (9,522)
Cash flows used in financing activities    
Payments received on net investment in finance lease 80 105
Repayment of lease obligations (1,969) (1,781)
Interest received 2,466 7,953
Proceeds from exercise of stock options 3,084 1,644
Proceeds from share issuance under employee share purchase plan 522 524
Shares repurchased for cancellation (11,024) (159,448)
Cash used in financing activities (6,841) (151,003)
Net change in cash and cash equivalents during the year 20,913 (144,561)
Effect of foreign exchange on cash and cash equivalents (323) 218
Cash and cash equivalents, beginning of the year 71,950 216,293
Cash and cash equivalents, end of the year $ 92,540 $ 71,950