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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 14,501 $ 18,263 $ 1,983
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 12,507 10,614 9,853
Unrealized foreign currency (gain) loss (1,041) (1,284) 2,047
Fair value adjustments to earnout liabilities 296 (229) 704
Earnout payments 0 (1,007) (587)
Loss (gain) on sale of property and equipment 110 10 (83)
Amortization of debt discount 427 371 404
Share-based compensation expense 4,533 3,895 3,335
Bad debt expense 1,593 1,340 688
Inventory reserve expense 1,099 140 82
Deferred income tax (benefit) expense (118) (39) 0
Changes in operating assets and liabilities, net of acquisitions and divestitures:      
Accounts receivable (26,851) (6,751) (13,165)
Cost and estimated earnings of billings on uncompleted contracts 5,040 (16,851) (7,007)
Inventories (6,896) (6,023) (203)
Prepaid expenses and other current assets 1,196 37 5,911
Deferred charges and other assets (1,420) 2,478 300
Accounts payable 13,852 19,843 806
Accrued expenses 8,340 2,693 (366)
Billings in excess of costs and estimated earnings on uncompleted contracts 21,575 4,405 8,431
Income taxes payable (1,976) 1,424 1,047
Other liabilities (2,120) (3,680) (882)
Net cash provided by operating activities 44,647 29,649 13,298
Cash flows from investing activities:      
Acquisitions of property and equipment (8,384) (3,376) (2,616)
Net proceeds from sale of assets 0 19 533
Cash paid for acquisitions, net of cash acquired (48,102) (44,900) 0
Net cash used in investing activities (56,486) (48,257) (2,083)
Cash flows from financing activities:      
Borrowings on revolving credit lines 106,600 75,200 51,400
Repayments on revolving credit lines. (150,600) (35,900) (57,100)
Borrowings of long-term debt 75,000 11,000 0
Repayments of long-term debt (4,985) (3,120) (2,738)
Repayments of notes payable 0 (500) 0
Deferred financing fees paid (363) (130) (801)
Deferred consideration paid for acquisitions (1,247) 0 0
Payments on capital leases and sale-leaseback financing liability (907) (600) (603)
Earnout payments (2,123) 0 (823)
Proceeds from employee stock purchase plan and exercise of stock options 1,435 671 230
Distributions to non-controlling interest (1,666) (1,425) (107)
Common stock repurchases 0 (7,020) (5,014)
Net cash (used in) provided by financing activities 21,144 38,176 (15,556)
Effect of exchange rate changes on cash and cash equivalents (442) (4,978) (1,475)
Net (decrease) increase in cash, cash equivalents and restricted cash 8,863 14,590 (5,816)
Cash, cash equivalents and restricted cash at beginning of year 46,585 31,995 37,811
Cash, cash equivalents and restricted cash at end of year 55,448 46,585 31,995
Cash paid (received) during the period for:      
Interest 12,098 5,007 2,146
Income taxes $ 9,916 $ 5,378 $ (2,570)