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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities        
Net (loss) income $ 57,777 $ 1,361 $ 15,487 $ 3,194
Adjustments to reconcile net (loss) income to net cash provided by operating activities:        
Provision for bad debt 78 (1) 172 1
Amortization expense 1,906 2,087 3,950 4,154
Depreciation expense 48 35 92 70
Amortization of debt issuance costs     28 80
Gain on change in fair value of Seller's Earn-Out (37,419) 0 (12,763) 0
Gain on change in fair value of warrants (18,523) 0 (2,587) 0
Gain on deconsolidation of SymetryML 0 0 (1,939) 0
Loss on change in fair value of SAFE Notes 0 0 788 0
Loss on fair value of investment in SymetryML Holdings     10 0
Deferred tax benefit     (3,236) (1,072)
Equity-based compensation     5,844 272
Seller's Earn-Out equity-based compensation     991 0
Changes in operating assets and liabilities:        
Accounts receivable     11,675 6,819
Income taxes recoverable     (4) 86
Prepaid expenses and other assets     (3,626) (1,204)
Accounts payable     (2,440) (2,114)
Accrued expenses and other liabilities     (9,153) (6,067)
Net cash provided by operating activities     3,289 4,219
Cash flows from investing activities        
Capitalized software development costs     (1,240) (1,119)
Purchase of property and equipment     (211) (91)
Decrease in cash from deconsolidation of SymetryML     (69) 0
Net cash used in investing activities     (1,520) (1,210)
Cash flows from financing activities        
Cash received for exercised options     183 18
Payment of revolver borrowings     (39,017) 0
Proceeds from SAFE Notes     200 700
Proceeds from SymetryML preferred stock issuance     400 0
Payment of term loan     0 (1,213)
Net cash used in financing activities     (38,234) (495)
Net (decrease) increase in cash and cash equivalents     (36,465) 2,514
Cash, cash equivalents and restricted cash at beginning of period     100,093 16,767
Cash, cash equivalents and restricted cash at end of period 63,628 19,281 63,628 19,281
Cash and cash equivalents 63,628 19,281 63,628 19,281
Restricted cash 0 0 0 0
Cash, cash equivalents and restricted cash at end of period $ 63,628 $ 19,281 63,628 19,281
Supplemental disclosure of cash flow information        
Increase in lease liabilities from obtaining right-of-use assets - ASC 842 adoption     8,376 0
Increase in lease liabilities from obtaining right-of-use assets     214 0
Non-cash investing and financial activities        
Capitalized software and property and equipment, net included in accounts payable     $ 95 $ 11