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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 18,946 $ 5,182
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 4,232 992
Depreciation expense 205 134
Amortization of intangibles 12,334 14,968
Amortization of debt issuance costs and debt discount 425 1,872
Income from unconsolidated subsidiaries (1,110) (527)
Deferred tax expense 5,775 206
Remeasurement of contingent consideration (13) 160
Post close purchase price adjustment 11 0
Change in operating assets and liabilities:    
Accounts receivable (3,816) (3,453)
Due from related parties (11,259) (1,820)
Prepaid expenses and other assets 1,025 758
Right-of-use assets 2,088 806
Accounts payable 789 (426)
Accrued expenses (1,996) 937
Due to related parties (1,458) (1,100)
Other liabilities (825) (39)
Deferred revenues (430) (134)
Lease liabilities (1,752) (912)
Net cash provided by operating activities 23,171 17,604
CASH FLOWS FROM INVESTING ACTIVITIES    
Note receivable (266) 0
Proceeds from note receivable 7 0
Investments in unconsolidated subsidiaries 0 (2,637)
Proceeds from investments in unconsolidated subsidiaries 660 3,552
Software capitalization (87) 0
Post-closing payments for Enhanced working capital 0 (1,519)
Purchases of property and equipment (634) (39)
Net cash used in investing activities (320) (643)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings on debt obligations 0 952
Repayments on debt obligations (25,000) (10,266)
Payment of preferred stock dividends 0 (719)
Payments of contingent consideration 0 (518)
Cash settlement of stock options (12,466) 0
Dividends paid (3,515) 0
Debt issuance costs (8) (27)
Net cash used in financing activities (40,989) (10,578)
Net change in cash, cash equivalents and restricted cash (18,138) 6,383
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 43,482 12,783
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 25,344 19,166
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 2,290 9,157
Net cash paid for income taxes 428 3,592
NON-CASH OPERATING, INVESTING AND FINANCING ACTIVITIES    
Additions to right-of-use assets 890 1,823
Additions to lease liabilities 1,839 1,823
Additions to capex for leasehold improvements 949 0
Dividends declared 1 0
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents 23,613 18,035
Restricted cash 1,731 1,131
Total cash, cash equivalents and restricted cash $ 25,344 $ 19,166