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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 12,633 $ 2,871
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 13,391 15,171
Depreciation expense 428 329
Amortization of intangibles 12,875 14,574
Amortization of debt issuance costs and debt discount 699 723
Income from unconsolidated subsidiaries (436) (531)
Deferred tax expense 4,168 485
Amortization of contingent payment to customers 820 722
Remeasurement of contingent consideration 121 470
Change in operating assets and liabilities:    
Accounts receivable (2,825) (2,748)
Due from related parties (11,000) (8,339)
Prepaid expenses and other assets 10,086 88
Right-of-use assets 1,984 1,510
Accounts payable and accrued expenses 2,451 1,754
Accrued compensation and benefits 5,730 12,907
Due to related parties (1,084) (1,570)
Other liabilities (633) (7,951)
Deferred revenues (1,268) (444)
Lease liabilities (2,354) (814)
Net cash provided by operating activities 45,786 29,207
CASH FLOWS USED IN INVESTING ACTIVITIES    
Purchase of intangible assets 0 (22)
Funding of notes receivable (323) (211)
Proceeds from notes receivable 45 2
Investments in unconsolidated subsidiaries (3) 0
Distributions from investments in unconsolidated subsidiaries 501 466
Software capitalization (160) (9)
Purchases of property and equipment (1,195) (853)
Net cash used in investing activities (1,135) (627)
CASH FLOWS USED IN FINANCING ACTIVITIES    
Borrowings on debt obligations 64,000 22,000
Repayments on debt obligations (53,912) (40,213)
Repurchase of Class A common stock for employee tax withholding (2,677) (4,996)
Payment of contingent consideration (1,244) (1,588)
Dividends paid (7,708) (7,251)
Distributions to non-controlling interests (462) (312)
Net cash used in financing activities (44,506) (33,211)
Net change in cash, cash equivalents and restricted cash 145 (4,631)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 32,057 29,492
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 32,202 24,861
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 11,042 10,003
Net cash paid for income taxes 1,049 1,088
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Additions to right-of-use assets 3,968 3,475
Dividends declared 185 1
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents 31,244 23,361
Restricted Cash 958 1,500
Total cash, cash equivalents and restricted cash 32,202 24,861
Class A Common Stock    
CASH FLOWS USED IN FINANCING ACTIVITIES    
Repurchase of common stock (42,503) 0
Class B Common Stock    
CASH FLOWS USED IN FINANCING ACTIVITIES    
Repurchase of common stock $ 0 $ (851)