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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 9,260 $ 3,186
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 1,452 522
Non-cash incentive compensation 1,396  
Depreciation expense 202 21
Amortization of intangibles 22,452 9,606
Amortization of debt issuance costs and debt discount 2,798 1,315
Income from unconsolidated subsidiaries (781)  
Expense/(benefit) for deferred tax 2,127 (3,213)
Change in operating assets and liabilities:    
Accounts receivable (5,162) 550
Due from related parties (273) 173
Prepaid expenses and other assets 14 (797)
Right-of-use assets 1,219 878
Accounts payable 157 3,682
Accrued expenses 152 966
Due to related parties (550)  
Other liabilities 6,165 (125)
Deferred revenues 1,455 477
Lease liabilities (1,379) (949)
Net cash provided by operating activities 40,704 16,292
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisitions, net of cash acquired (43,926) (46,640)
Payments of contingent consideration (518)  
Purchase of intangible assets (30)  
Notes receivable (2,270)  
Investments in unconsolidated subsidiaries (2,638)  
Proceeds from investments in unconsolidated subsidiaries 3,600  
Post-closing payments related to acquisitions (1,519) (125)
Purchases of property and equipment (78) (14)
Net cash used in investing activities (47,379) (46,779)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuance of redeemable noncontrolling interests 0 31,000
Borrowings on debt obligations 35,952  
Repayments on debt obligations (12,321) (2,582)
Payment of preferred stock dividends (720)  
Debt issuance costs (942) (470)
Net cash provided by financing activities 21,969 27,948
Net change in cash, cash equivalents and restricted cash 15,294 (2,539)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 12,783 19,462
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 28,077 16,923
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 13,712 6,172
Cash paid for income taxes 4,637 938
NON-CASH OPERATING ACTIVITIES    
Additions to right-of-use assets 1,823 0
Additions to lease liabilities 1,823 0
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents 21,656  
Restricted Cash 6,421 756
Total cash, cash equivalents and restricted cash $ 28,077 $ 16,923