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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 18,223,000 $ 22,113,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,506,000 4,469,000
Deferred income taxes (118,000) (721,000)
Reserve for uncertain tax positions 211,000 250,000
Non-cash share-based compensation expense 96,000 677,000
Change in fair value of contingent consideration 23,000 0
Net changes in assets and liabilities:    
Trade accounts receivable 1,752,000 (6,000)
Prepaid expenses and other current assets 91,000 (3,257,000)
Deferred contract costs, net 212,000 800,000
Operating lease assets and liabilities, net 9,000 (75,000)
Accounts payable 599,000 230,000
Accrued expenses, wages and bonuses 1,789,000 493,000
Income taxes receivable and payable (706,000) 392,000
Deferred revenue 1,559,000 1,040,000
Net cash provided by operating activities 28,246,000 26,405,000
Cash flows from investing activities:    
Purchases of property and equipment (11,004,000) (12,009,000)
Acquisitions, net of cash acquired (4,833,000) 0
Proceeds from the sale of property and equipment 0 1,000
Net cash used in investing activities (15,837,000) (12,008,000)
Cash flows from financing activities:    
Payments on notes payable (5,044,000) (3,373,000)
Borrowings on notes payable 17,000,000 0
Borrowings on line of credit 39,000,000 5,000,000
Payments on line of credit (34,000,000) 0
Payments on finance lease obligations (19,000) (279,000)
Payment of debt issuance costs 37,000 8,000
Proceeds from the exercise of share-based awards 0 584,000
Payment of payroll tax withholdings on share-based awards exercised (317,000) 0
Repurchase of shares for treasury 23,548,000 4,100,000
Payment of dividends on common stock (8,636,000) (33,419,000)
Net cash used in financing activities (15,601,000) (35,595,000)
Change in cash and cash equivalents (3,192,000) (21,198,000)
Cash and cash equivalents at beginning of period 6,653,000 25,026,000
Cash and cash equivalents at end of period 3,461,000 3,828,000
Supplemental disclosure of cash paid for:    
Interest expense, net of capitalized amounts 1,699,000 600,000
Income taxes 6,270,000 6,484,000
Supplemental disclosure of non-cash investing and financing activities:    
Stock tendered to the Company for cashless exercise of stock options in connection with equity incentive plans 1,752,000 0
Purchase of property and equipment in accounts payable and accrued expenses 2,610,000 1,819,000
Repurchase of shares for treasury in accounts payable and accrued expenses 238,000 24,000
Contingent consideration recorded in connection with acquisition $ 776,000 $ 0