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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 26,908 $ 23,222
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 2,349 2,585
Stock-based compensation expense 1,006 441
Amortization of deferred finance costs 620 386
Change in fair value of earnout consideration liability (4,107) 0
Revaluation of warrant liability 1,424 0
Change in fair value of derivative liability 248 0
Deferred tax expense 543 0
Changes in assets and liabilities    
Accounts receivable (10,659) (16,677)
Inventories (1,392) (859)
Prepaid expenses and other assets (4,423) (377)
Deposits and other assets 0 (896)
Accounts payable (2,248) 2,483
Accrued expenses 3,422 (4,381)
Other liabilities (1,782) 178
Net cash provided by operating activities 11,909 6,105
Cash flows from investing activities:    
Acquisition of property and equipment (1,417) (275)
Net cash used in investing activities (1,417) (275)
Cash flows from financing activities:    
Proceeds from line of credit 10,000 0
Payment of line of credit 0 (5,000)
Payment of term loan (3,125) (6,000)
Distributions 0 (3,276)
Payment of issuance costs related to business combination (23,833) 0
Net cash used in financing activities (16,958) (14,276)
Net decrease in cash and cash equivalents (6,466) (8,446)
Cash and cash equivalents, beginning of period 21,944 13,422
Cash and cash equivalents, end of period 15,478 4,976
Supplementary disclosure of cash flow information:    
Cash paid for interest expense 4,734 2,643
Supplemental disclosure of non-cash financing activities:    
Derivative asset - interest rate swap $ 4,036 $ 0