XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash Flows from Operating Activities:          
Net loss     $ (3,640) $ (97)  
Adjustments to reconcile net income to net cash provided by operating activities          
Depreciation and amortization     6,023 4,620  
Amortization of intangible assets $ 3,800 $ 2,300 7,154 3,665  
Gain on sale of assets     (311) (237)  
Credit losses     656 289  
Stock based compensation     13,876 11,169  
Accretion of discounts on notes payable     307 264  
Deferred taxes     5,348 (7,339)  
Changes in operating assets and liabilities, net of acquisition of businesses          
Accounts receivable     (6,080) (10,885)  
Contract assets     (4,366) (5,267)  
Prepaid expenses and other assets     4,063 (4,174)  
Accounts payable and accrued expenses     (15,633) 9,535  
Contract liabilities     (1,809) 523  
Net cash provided by operating activities     5,588 2,066  
Cash Flows from Investing Activities:          
Purchases of property and equipment     (600) (632)  
Fixed assets converted to lease financing     (29) 0  
Proceeds from sale of assets and disposal of leases     317 237  
Payments received under loans to shareholders     54 108  
Acquisitions of businesses, net of cash acquired     (20,347) (15,408)  
Collections under stock subscription notes receivable     23 48  
Net cash used in investing activities     (20,582) (15,647)  
Cash Flows from Financing Activities:          
Proceeds from common stock offering, net of underwriting discounts and commissions and other offering costs     47,151 0  
(Repayments) Borrowings under revolving credit facility     (17,441)    
(Repayments) Borrowings under revolving credit facility       21,189  
Repayments under fixed line of credit     (345) (283)  
Proceeds from notes payable     6,209 0  
Repayment under notes payable     (7,464) (4,743)  
Proceeds from finance leases     4,567 0  
Payments on finance leases     (4,053) (3,309)  
Payments for purchase of treasury stock     (10,037) (3,586)  
Repurchases of common stock     (2,084) 0  
Proceeds from issuance of common stock     947 777  
Net cash provided by financing activities     17,450 10,045  
Net increase (decrease) in cash and cash equivalents     2,456 (3,536)  
Cash and cash equivalents, beginning of period     20,687 13,282 $ 13,282
Cash and cash equivalents, end of period $ 23,143 $ 9,746 23,143 9,746 $ 20,687
Supplemental disclosures of cash flow information:          
Cash paid for interest     3,457 1,547  
Cash paid for income taxes     1,552 745  
Non-cash investing and financing activities:          
Property and equipment acquired under finance lease     (6,755) (4,385)  
Note payable converted to common shares     (2,696) 0  
Issuance of notes payable for acquisitions     (13,636) (7,825)  
Issuance of contingent considerations     (1,504) 0  
Settlement of contingent consideration     $ 567 $ 0