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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 5,243 $ 769
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 6,715 7,099
Depreciation expense 218 155
Amortization of intangibles 6,437 7,248
Amortization of debt issuance costs and debt discount 348 330
Income from unconsolidated subsidiaries (272) (114)
Deferred tax expense/(benefit) 1,338 (1,053)
Amortization of contingent payment to customers 410 367
Remeasurement of contingent consideration 30 390
Change in operating assets and liabilities:    
Accounts receivable (2,673) (915)
Due from related parties (5,060) (4,518)
Prepaid expenses and other assets 1,738 442
Right-of-use assets 1,310 658
Accounts payable and accrued expenses (881) 3,281
Accrued compensation and benefits (417) 3,896
Due to related parties (1,658) (1,766)
Other liabilities (556) 1,337
Deferred revenues 238 3,486
Lease liabilities (1,549) (315)
Net cash provided by operating activities 10,959 20,777
CASH FLOWS USED IN INVESTING ACTIVITIES    
Purchase of intangible assets 0 (21)
Funding of notes receivable (111) (211)
Proceeds from notes receivable 44 2
Investments in unconsolidated subsidiaries (3) 0
Distributions from investments in unconsolidated subsidiaries 68 22
Software capitalization 0 (9)
Purchases of property and equipment (258) (484)
Net cash (used in) investing activities (260) (701)
CASH FLOWS USED IN FINANCING ACTIVITIES    
Borrowings on debt obligations 47,500 16,000
Repayments on debt obligations (23,656) (21,657)
Repurchase of Class A common stock for employee tax withholding (2,207) (3,038)
Payment of contingent consideration (214) (688)
Dividends paid (3,774) (3,477)
Distributions to non-controlling interests (336) 0
Net cash used in financing activities (12,725) (13,711)
Net change in cash, cash equivalents and restricted cash (2,026) 6,365
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 32,057 29,492
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 30,031 35,857
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 5,406 2,863
Net cash paid (received) for income taxes 19 58
NON-CASH OPERATING, INVESTING AND FINANCING ACTIVITIES    
Additions to right-of-use assets 3,947 3,475
Dividends declared 23 1
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents 28,996 25,050
Restricted Cash 1,035 10,807
Total cash, cash equivalents and restricted cash 30,031 35,857
Class A Common Stock    
CASH FLOWS USED IN FINANCING ACTIVITIES    
Repurchase of common stock (30,038) 0
Class B Common Stock    
CASH FLOWS USED IN FINANCING ACTIVITIES    
Repurchase of common stock $ 0 $ (851)