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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows (Used In) Provided By Operating Activities:    
Net (loss) income $ (13,338) $ 3,212
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Amortization of deferred financing costs 558 435
Amortization of intangible assets 1,465 1,465
Reduction in carrying amount of right-of-use assets 115 124
Depreciation and amortization of property, equipment and software 205 185
Stock-based compensation 811 546
Deferred income tax expense 6,132 82
Loss on early termination of line of credit 0 300
Derecognition of tax receivable agreement liability (5,201) 0
Provision for credit losses/bad debt expense, net of recoveries 36 98
Changes in operating assets and liabilities:    
Accounts receivable 30,884 (28,381)
Prepaid expenses and other assets (394) (524)
Accounts payable (27,474) 27,326
Accrued liabilities and tax receivable agreement payable (1,471) (753)
Income taxes payable 65 (61)
Deferred revenues 595 497
Operating lease liability (83) (70)
Net cash (used in) provided by operating activities (7,095) 4,481
Cash Flows Used In Investing Activities:    
Cash paid for capitalized software and property and equipment (17) (137)
Net cash used in investing activities (17) (137)
Cash Flows Provided by (Used In) Financing Activities:    
Payments on term loan (373) (491)
Proceeds from lines of credit 6,700 0
Payments on shares withheld for taxes (551) 0
Payment of deferred financing costs 0 (442)
Proceeds from options exercised 92 0
Proceeds from warrants exercised 215 12
Distributions to holders of LLC Units 0 (1,988)
Net cash provided by (used in) financing activities 6,083 (2,909)
Net (decrease) increase in cash and cash equivalents (1,029) 1,435
Cash and cash equivalents, beginning of the period 5,116 4,047
Cash and cash equivalents, end of the period 4,087 5,482
Supplemental Disclosure of Cash Flow Information:    
Cash paid for taxes 263 349
Cash paid for interest 3,472 2,667
Non-cash Financing Activities:    
Accrual of warrant redemption liability $ 0 $ 3,540