XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net (loss) income $ (733) $ 4,213
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 11,360 4,940
Deferred income taxes (3,322) 2,413
Stock-based compensation 2,620 1,131
Non-cash lease expense 1,120 1,648
Amortization of contract asset 818 177
Provision for credit losses 187 0
Change in operating assets and liabilities    
Accounts and other receivables (9,205) (4,944)
Prepaid expenses and other current and long-term assets (910) (905)
Accounts payable 3,205 3,541
Accrued liabilities 2,615 543
Operating lease liabilities (942) (1,573)
Contract liabilities 75 301
Income taxes receivable, net of payable 204 1,272
Net cash provided by operating activities 7,092 12,757
Cash flows from investing activities    
Other intangible assets acquired (123) 0
Purchases of property and equipment (795) (564)
Capitalized internal-use software development costs (14,464) (8,736)
Net cash used in investing activities (15,382) (9,300)
Cash flows from financing activities    
Proceeds from initial public offering, net of underwriter's discounts and commissions 0 224,595
Proceeds from issuance of private placement 0 50,000
Proceeds from repayment of related party loan 0 813
Proceeds from exercise of stock options 302 0
Financial Institution fund in transit 25,882 0
Payments of deferred offering costs 0 (856)
Payments on other financing obligations (1,831) (767)
Payments on finance leases (135) (136)
Net cash provided by financing activities 24,218 216,224
Foreign currency effect on cash, cash equivalents and restricted cash (97) 43
Net increase in cash, cash equivalents and restricted cash 15,831 219,724
Cash, cash equivalents and restricted cash    
Beginning of period 201,829 46,666
End of period 217,660 266,390
Supplemental disclosure of cash flow information:    
Cash paid for income taxes, net of refunds 184 950
Non-cash investing activities:    
Property and equipment purchases in accounts payable 83 202
Software purchases in accounts payable 48 0
Non-cash financing activities:    
Prepaid insurance funded through short-term borrowings 1,349 2,135
Issuance of Warrant 0 4,498
Unpaid deferred offering costs 0 1,105
Series A Preferred Stock [Member]    
Cash flows from financing activities    
Redemption of Series A preferred stock 0 (23,013)
Payment of dividends on Series A preferred stock 0 (34,412)
Cash and Cash Equivalents [Member]    
Cash, cash equivalents and restricted cash    
End of period 158,335 266,390
Restricted funds [Member]    
Cash, cash equivalents and restricted cash    
End of period $ 59,325 $ 0