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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (3,152) $ 6,783
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 8,451 3,987
Change in fair value of contingent consideration 6,242 (3,757)
Share-based compensation expense 3,117 31
Payment of contingent earnout consideration in excess of purchase price accrual (1,316) 0
Amortization of deferred financing costs 195 731
Loss on extinguishment of debt 0 115
Issuance and vesting of Management Incentive Units 0 360
Participation unit compensation 0 61
Changes in operating assets and liabilities, net of effect of acquisitions:    
Premiums, commissions and fees receivable, net (9,464) 8,309
Prepaid expenses and other current assets (334) (439)
Due from related parties (78) 114
Accounts payable, accrued expenses and other current liabilities 39,983 (7,981)
Other liabilities 0 548
Net cash provided by operating activities 43,644 8,862
Cash flows from investing activities:    
Capital expenditures (2,619) (780)
Investment in business venture 0 (200)
Cash consideration paid for asset acquisitions, net of cash received (695) (375)
Cash consideration paid for business combinations, net of cash received (224,112) (76,186)
Net cash used in investing activities (227,426) (77,541)
Cash flows from financing activities:    
Proceeds from issuance of Class A common stock, net of underwriting discounts 167,346 0
Repurchase/redemption of LLC Units and Class B common stock (32,610) 0
Payment of common stock offering costs (769) 0
Payment of contingent and guaranteed earnout consideration (665) (813)
Proceeds from revolving line of credit 185,637 55,795
Proceeds from related party debt 0 38,920
Payments on long-term debt 0 (205)
Payments of debt issuance costs and debt extinguishment costs (1,918) (15)
Proceeds from repayment of stockholder/member notes receivable 115 144
Repurchase of common units 0 (12,500)
Distributions 0 (6,292)
Other 11 1,479
Net cash provided by financing activities 317,147 76,513
Net increase in cash and cash equivalents and restricted cash 133,365 7,834
Cash and cash equivalents and restricted cash at beginning of period 71,071 7,995
Cash and cash equivalents and restricted cash at end of period 204,436 15,829
Supplemental schedule of cash flow information:    
Cash paid during the period for interest 1,486 4,102
Disclosure of non-cash investing and financing activities:    
Equity issued in business combinations 52,130 31,963
Contingent earnout consideration issuances 25,188 25,619
Change in the redemption value of redeemable interests 0 66,542
Capitalization of issuance to redeemable common member 0 5,509
Debt issuance costs added to revolving line of credit 0 2,554
Transfer of long-term debt to revolving line of credit $ 0 $ 1,820