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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 769 $ 7,792
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 7,099 1,515
Depreciation expense 155 95
Amortization of intangibles 7,248 6,181
Amortization of debt issuance costs and debt discount 330 202
Income from unconsolidated subsidiaries (114) (326)
Deferred tax expense (benefit) (1,053) 2,304
Amortization of contingent payment to customers 367 0
Remeasurement of contingent consideration 390 127
Post close purchase price adjustment 0 11
Change in operating assets and liabilities:    
Accounts receivable (915) (515)
Due from related parties (4,518) (5,747)
Prepaid expenses and other assets 442 634
Right-of-use assets 658 596
Accounts payable 461 341
Accrued expenses 2,820 (11,372)
Accrued compensation and benefits 3,896 (2,854)
Due to related parties (1,766) (1,853)
Other liabilities 1,337 11,919
Deferred revenues 3,486 (1,024)
Lease liabilities (315) (404)
Net cash provided by operating activities 20,777 7,622
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of intangible assets (21) 0
Draw on note receivable (211) (231)
Proceeds from note receivable 2 7
Proceeds from investments in unconsolidated subsidiaries 22 98
Software capitalization (9) (35)
Purchases of property and equipment (484) (263)
Net cash (used in) investing activities (701) (424)
CASH FLOWS (USED IN) FINANCING ACTIVITIES    
Borrowings on debt obligations 16,000 0
Repayments on debt obligations (21,657) (25,000)
Repurchase of Class A common stock for employee tax withholding (3,038) 0
Repurchase of Class B common stock (851) 0
Payment of contingent consideration (688) 0
Dividends paid (3,477) 0
Debt issuance costs 0 (8)
Net cash (used in) financing activities (13,711) (25,008)
Net change in cash, cash equivalents and restricted cash 6,365 (17,810)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 29,492 43,482
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 35,857 25,672
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 2,863 398
Net cash paid (received) for income taxes 58 (236)
NON-CASH OPERATING, INVESTING AND FINANCING ACTIVITIES    
Additions to right-of-use assets 3,475 0
Additions to lease liabilities 3,475 0
Additions to property and equipment 484 0
Additions to accrued compensation and benefits 10,240 0
Accrual for settlement of stock options   12,466
Additions to contingent consideration 390 127
Dividends declared 1 0
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents 25,050 23,655
Restricted Cash 10,807 2,017
Total cash, cash equivalents and restricted cash $ 35,857 $ 25,672