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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
OPERATING ACTIVITIES          
Net income including non-controlling interest $ 17,720 $ 11,712 $ 31,188 $ 23,329  
Adjustments to reconcile net income including non-controlling interest to net cash provided by operating activities:          
Depreciation and amortization     11,924 8,609  
Provision for credit losses 1,995 1,717 3,843 3,344  
Equity-based awards compensation expense     3,888 3,916  
Amortization of debt issue costs     210 210  
Change in deferred income taxes     7,279 770  
Change in revaluation of put-right liability 339 223 743 303  
Change in fair value of contingent earn-out consideration (790) 4,046 (5,612) 3,434  
Equity of earnings in unconsolidated affiliate (401) (248) (794) (519)  
Loss on sale of fixed assets     438 51  
Loss on sale of a partnership 0 0 123 0  
Changes in operating assets and liabilities:          
Patient accounts receivable, net     (10,232) (5,110)  
Accounts receivable - other     355 (2,351)  
Other current and long term assets     (4,426) (1,642)  
Accounts payable and accrued expenses     (7,914) (1,481)  
Other long-term liabilities     (827) 548  
Net cash provided by operating activities     30,186 33,411  
INVESTING ACTIVITIES          
Purchase of fixed assets     (5,830) (4,174)  
Purchase of majority interest in businesses, net of cash acquired     (6,890) (38,695)  
Purchase of redeemable non-controlling interest, temporary equity     (8,427) (6,230)  
Purchase of non controlling interest, permanent equity     (149) (527)  
Proceeds from the sale of non-controlling interest, permanent equity     9 26  
Proceeds from the sale of partnership interest - redeemable non-controlling interest, temporary equity     15 69  
Repayment of notes receivable related to redeemable non-controlling interest     346 375  
Proceeds from the sale of partnership     700 0  
Distributions from unconsolidated affiliate     664 532  
Other     228 (131)  
Net cash (used in) investing activities     (19,334) (48,755)  
FINANCING ACTIVITIES          
Proceeds from revolving facility     73,500 0  
Payments on revolving facility     (60,000) 0  
Distributions to non-controlling interest, permanent and temporary equity     (10,697) (8,318)  
Cash dividends paid to shareholders     (13,678) (13,264)  
Payments on term loan     (5,625) (1,875)  
Principal payments on notes payable     (1,628) (1,113)  
Net cash (used in) financing activities     (18,128) (24,570)  
Net (decrease) in cash and cash equivalents     (7,276) (39,914)  
Cash and cash equivalents - beginning of period     41,362 152,825 $ 152,825
Cash and cash equivalents - end of period $ 34,086 $ 112,911 34,086 112,911 $ 41,362
Cash paid during the period for:          
Income taxes     9,833 4,932  
Interest paid     4,683 3,708  
Non-cash investing and financing transactions during the period:          
Purchase of businesses - seller financing portion     0 955  
Fair market value of initial contingent consideration related to purchase of businesses     3,059 2,800  
Offset of notes receivable associated with purchase of redeemable non-controlling interest     254 75  
Notes payable related to purchase of non-controlling interest, temporary equity     0 22  
Notes payable related to purchase of redeemable non-controlling interest, temporary equity     89 0  
Notes receivable related to sale of redeemable non-controlling interest, temporary equity     660 402  
Notes receivable related to the sale of non-controlling interest, permanent equity     $ 29 $ 243