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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
OPERATING ACTIVITIES        
Net income $ 34,681 $ 28,116 $ 69,348 $ 57,469
Adjustments to reconcile net income to cash provided by operating activities:        
Depreciation 1,386 1,363 2,744 2,628
Amortization of intangible assets 17,419 15,484 32,443 30,158
Stock-based compensation expense (Note 16) 5,508 4,451 9,277 7,370
Other non-cash operating activities (55) (148) 41 72
Deferred tax expense (recovery) 2,160 (1,869) 1,344 (1,061)
Changes in operating assets and liabilities (Note 20) (26,439) 4,614 (16,796) 4,230
Cash provided by operating activities 34,660 52,011 98,401 100,866
INVESTING ACTIVITIES        
Additions to property and equipment (1,576) (2,180) (3,340) (3,383)
Acquisition of subsidiaries, net of cash acquired (Note 3) (13,742)   (153,715) (142,700)
Cash used in investing activities (15,318) (2,180) (157,055) (146,083)
FINANCING ACTIVITIES        
Payment of debt issuance costs     (38) (39)
Issuance of common shares for cash, net of issuance costs (Note 14) 3,283 566 7,514 6,021
Payment of withholding taxes on net share settlements     (6,745) (4,886)
Payment of contingent consideration (9,223) (6,320) (9,223) (6,320)
Cash used in financing activities (5,940) (5,754) (8,492) (5,224)
Effect of foreign exchange rate changes on cash 329 1,145 (1,153) 1,465
Increase (decrease) in cash 13,731 45,222 (68,299) (48,976)
Cash, beginning of period 238,922 182,187 320,952 276,385
Cash, end of period 252,653 227,409 252,653 227,409
Supplemental disclosure of cash flow information:        
Cash paid during the period for income taxes $ 13,419 $ 14,352 $ 24,185 $ 22,570