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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 29,399 $ 10,767 $ 23,806
Adjustments to reconcile net income to net cash provided by operating activities:      
Stock-based compensation 18,616 3,528 714
Non-cash incentive compensation 0 1,396 0
Depreciation expense 485 272 105
Amortization of intangibles 26,867 30,431 15,466
Amortization of debt issuance costs and debt discount 1,116 4,748 2,040
Income from unconsolidated subsidiaries (1,532) (1,087) 0
Deferred tax expense (benefit) 3,693 (8,140) (30,274)
Loss on extinguishment of debt 0 10,499 0
Measurement of contingent payments to customers 676 0 0
Remeasurement of Contingent Consideration 1,717 3,472 0
Post Close Purchase Price Adjustment 11 0 0
Change in operating assets and liabilities:      
Accounts receivable (1,066) 407 1,942
Due from related parties (24,181) (9,782) (427)
Prepaid expenses and other assets 2,871 (1,390) (74)
Right-of-use assets 2,912 1,651 1,186
Accounts payable (10,889) (702) 619
Accrued expenses 1,556 (2,674) 931
Accrued compensation and benefits 8,014 3,335 1,754
Due to related parties (101) 58 141
Other liabilities 3,950 1,554 (34)
Deferred revenues (302) 2,606 (5,960)
Lease liabilities (2,137) (1,930) (1,266)
Net cash provided by operating activities 61,675 49,019 10,669
CASH FLOWS FROM INVESTING ACTIVITIES      
Acquisitions, net of cash acquired (96,455) (44,612) (213,909)
Purchase of intangible assets (36) (30) 0
Notes receivable (1,687) (2,552) 0
Proceeds from note receivable 7 0 0
Investments in unconsolidated subsidiaries 0 (2,638) 0
Proceeds from investments in unconsolidated subsidiaries 1,014 4,080 0
Software capitalization (138) 0 0
Post-closing payments related to acquisitions 0 (1,519) (250)
Purchases of property and equipment (1,295) (129) (34)
Net cash used in investing activities (98,590) (47,400) (214,193)
CASH FLOWS FROM FINANCING ACTIVITIES      
Issuance of redeemable noncontrolling interests 0 0 46,353
Repayment of notes payable to sellers 0 (9,406) 0
Repayment of loans payable 0 (31,658) 0
Borrowings on debt obligations 120,662 252,873 159,350
Repayments on debt obligations (43,162) (295,376) (4,798)
Cash paid for extinguishment of debt 0 (4,813) 0
Repurchase of Class A common stock for employee tax withholding (454) 0  
Payment of preferred stock dividends 0 (2,313) 0
Proceeds from initial public offering 0 138,000 0
Payment of initial public offering underwriting fees 0 (8,626) 0
Payments of contingent consideration (7,344) (727) 0
Deferred offering costs 0 (3,361) 0
Cash settlement of stock options (12,466) (1,112) 0
Dividends paid (10,522) 0 0
Debt issuance costs (1,888) (4,401) (4,064)
Net cash provided by financing activities 22,925 29,080 196,841
Net change in cash, cash equivalents and restricted cash (13,990) 30,699 (6,683)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 43,482 12,783 19,466
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 29,492 43,482 12,783
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Cash paid for interest 6,784 18,719 9,699
Cash paid for extinguishment of debt 0 4,813 0
Net cash paid for income taxes 2,480 5,039 1,169
NON-CASH OPERATING, INVESTING AND FINANCING ACTIVITIES      
Issuance of redeemable noncontrolling interests in acquisition 0 0 141,354
Issuance of redeemable noncontrolling interests in exchange for tax amortization benefits 0 0 10,012
Issuance of noncontrolling interests in acquisition 40,745 0 0
Increase to purchase price of Enhanced for working capital adjustment 0 0 1,707
Additions to right-of-use assets 4,046 9,949 0
Additions to lease liabilities 4,995 9,949 0
Additions to contingent payments to customers 14,305 0 0
Additions to accrued contingent liability 14,305 0 0
Additions to property and equipment 949 0  
Additions to accrued compensation and benefits 10,052 0 0
Additions to contingent consideration 0 19,160 0
Dividends declared 1 0 0
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH      
Cash and cash equivalents 20,021 40,916 11,773
Restricted Cash 9,471 2,566 1,010
Total cash, cash equivalents and restricted cash 29,492 43,482 12,783
Class A Common Stock      
CASH FLOWS FROM FINANCING ACTIVITIES      
Repurchase of common stock (9,653) 0  
Class B Common Stock      
CASH FLOWS FROM FINANCING ACTIVITIES      
Repurchase of common stock $ (12,248) $ 0 $ 0