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Condensed 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 $ 7,022 $ 6,460
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 6,973 5,650
Unrealized foreign currency gain (loss) 691 (863)
Fair value adjustment to earnout liabilities 0 296
Gain on sale of property and equipment 126 78
Debt discount amortization 240 182
Share-based compensation expense 3,847 1,967
Bad debt expense (recoveries) 267 (23)
Inventory reserve expense 669 551
Other 22 0
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (17,295) (39,181)
Costs and estimated earnings in excess of billings on uncompleted contracts 10,610 9,596
Inventories (5,151) (4,081)
Prepaid expense and other current assets (11,164) (8,319)
Deferred charges and other assets (412) (306)
Accounts payable 13,719 6,594
Accrued expenses 1,566 (2,692)
Billings in excess of costs and estimated earnings on uncompleted contracts 3,060 26,005
Income taxes payable 68 601
Other liabilities (6,967) (3,126)
Net cash provided by (used in) operating activities 7,891 (611)
Cash flows from investing activities:    
Acquisitions of property and equipment (7,233) (3,919)
Net cash received (paid) for acquisitions 422 (24,142)
Net cash used in investing activities (6,811) (28,061)
Cash flows from financing activities:    
Borrowings on revolving credit lines 21,700 65,300
Repayments on revolving credit lines (23,200) (33,400)
Repayments of long-term debt (5,198) (1,652)
Payments on finance leases and financing liability (458) (450)
Deferred consideration paid for acquisitions (2,050) (857)
Earnout payments (1,672) 0
Proceeds from employee stock purchase plan and exercise of stock options 418 1,156
Noncontrolling interest distributions (1,105) (599)
Common stock repurchase (5,000) 0
Net cash (used in) provided by financing activities (16,565) 29,498
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3,049) 1,141
Net (decrease) increase in cash, cash equivalents and restricted cash (18,534) 1,967
Cash, cash equivalents and restricted cash at beginning of period 55,448 46,585
Cash, cash equivalents and restricted cash at end of period 36,914 48,552
Cash paid during the period for:    
Interest 6,574 5,380
Income taxes $ 3,801 $ 7,605