XML 21 R7.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 11,600,000 $ 24,783,000 $ 30,971,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 7,624,000 6,022,000 5,899,000
Deferred income taxes 2,453,000 (664,000) (1,121,000)
Reserve for uncertain tax positions 174,000 258,000 404,000
Loss on disposal of property and equipment 61,000 17,000 0
Non-cash share-based compensation expense 3,312,000 284,000 935,000
Change in fair value of contingent consideration 141,000 83,000 0
Loss on extinguishment of debt 67,000 0 0
Amortization of debt issuance costs 102,000 28,000 39,000
Change in assets and liabilities:      
Trade accounts receivable (53,000) 1,757,000 2,084,000
Prepaid expenses and other current and noncurrent assets 24,000 1,749,000 (1,767,000)
Operating lease assets and liabilities, net (41,000) (23,000) (127,000)
Deferred contract costs, net (936,000) (109,000) 988,000
Accounts payable 170,000 (108,000) 184,000
Accrued expenses, wages and bonuses 1,670,000 174,000 (807,000)
Income taxes receivable and payable (191,000) 155,000 795,000
Deferred revenue 273,000 219,000 (364,000)
Net cash provided by operating activities 26,450,000 34,625,000 38,113,000
Cash flows from investing activities:      
Capital expenditures (10,706,000) (15,448,000) (15,779,000)
Acquisitions, net of cash acquired 0 (4,833,000) 0
Proceeds from the sale of property and equipment 0 0 1,000
Net cash used in investing activities (10,706,000) (20,281,000) (15,778,000)
Cash flows from financing activities:      
Borrowings on notes payable (31,424,000) (5,986,000) (4,528,000)
Payment of debt issuance costs (134,000) (42,000) (8,000)
Payments on notes payable 47,681,000 32,000,000 19,000,000
Borrowings on revolving loan 37,000,000 49,500,000 15,000,000
Payments on revolving loan (37,003,000) (49,500,000) (15,000,000)
Payments on finance lease obligations (9,000) (21,000) (290,000)
Proceeds from the exercise of stock options 132,000 0 584,000
Payment of payroll tax withholdings on share-based awards exercised (407,000) (317,000) 0
Payment of acquisition contingent consideration (516,000) 0 0
Repurchase of shares for treasury (20,180,000) (30,945,000) (19,099,000)
Payment of dividends on common stock (10,978,000) (11,453,000) (36,366,000)
Net cash used in financing activities (15,838,000) (16,764,000) (40,707,000)
Effect of exchange rate changes on cash      
Effect of exchange rate changes on cash 0 0 (1,000)
Change in cash and cash equivalents (94,000) (2,420,000) (18,373,000)
Cash and cash equivalents at beginning of period 4,233,000 6,653,000 25,026,000
Cash and cash equivalents at end of period 4,139,000 4,233,000 6,653,000
Supplemental disclosure of cash paid for:      
Interest expense, net of capitalized amounts 4,485,000 2,440,000 803,000
Income taxes   8,225,000 8,932,000
Income taxes (Federal) 2,400,000    
Income taxes (State and local) 1,406,000    
Supplemental disclosure of non-cash investing and financing activities:      
Purchase of property and equipment in accounts payable and accrued expenses 347,000 1,552,000 2,066,000
Stock tendered to the Company for cashless exercise of stock options in connection with equity incentive plans 188,000 1,752,000 1,241,000
Repurchase of shares for treasury in accounts payable and accrued expenses 228,000 311,000 152,000
New debt issued to existing lender 34,396,000 0 0
Debt extinguished using proceeds from new debt 62,076,000 0 0
Noncash borrowings on long-term debt for accrued interest and debt issuance costs 351,000 0 0
Contingent consideration recorded in connection with acquisition $ 0 $ 776,000 $ 0