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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net loss [1] $ (80.2) $ (21.7)
Adjustment to reconcile net loss to net cash provided by operating activities    
Depreciation and amortization 35.8 30.2
Amortization of capitalized financing costs 2.1 1.9
Loss on extinguishment of debt 7.1  
Deferred income taxes (0.4) 0.4
Provision for bad debts 5.4 2.5
Revaluation of contingent liabilities (7.0) 6.8
Impairment on software development costs 0.4  
Equity-based compensation expense 50.0  
Other noncash items (0.1) (0.7)
Impact of lease modifications (12.4)  
Change in operating assets and liabilities    
Accounts receivable 4.8 (11.7)
Contract assets (0.6) (1.8)
Prepaid expenses and other current assets (0.7) (0.9)
Inventory 0.1 (2.0)
Accounts payable 6.6 11.8
Accrued expenses and other current liabilities (6.7) 5.2
Deferred revenue 2.5 2.9
Net cash provided by operating activities 6.7 22.9
Investing activities    
Residual commission buyouts (0.4) (0.7)
Acquisition of property, plant and equipment (1.4) (6.2)
Capitalized software development costs (5.1) (2.2)
Customer acquisition costs (9.8) (8.8)
Net cash used in investing activities (16.7) (17.9)
Financing activities    
IPO proceeds, net of underwriting discounts and commissions 372.9  
Proceeds from private placement 100.0  
Payments for offering costs (7.2)  
Proceeds from long-term debt   20.0
Proceeds from revolving line of credit 68.5  
Repayment of debt (191.9) (2.6)
Repayment of revolving line of credit (89.5) (20.0)
Payments on contingent liabilities (1.1) (1.6)
Deferred financing costs   (0.3)
Preferred return on preferred stock (0.9)  
Capital distributions (0.5) (0.1)
Net cash provided by (used in) financing activities 250.3 (4.6)
Change in cash 240.3 0.4
Beginning of period 3.7 4.8
End of period 244.0 5.2
Supplemental disclosures of cash flow information    
Cash paid for income taxes 0.1 0.1
Cash paid for interest 26.6 23.2
Noncash financing activities    
Accrued preferred return on redeemable preferred units   $ 2.5
Contingent consideration settled with Class A common stock 21.1  
Short-term financing for directors and officers insurance 3.4  
Preferred return on preferred stock settled with LLC Interests 2.3  
Noncash operating activity    
Deferred compensation settled with restricted stock units $ 2.1  
[1] Net loss is equal to comprehensive loss.