XML 18 R7.htm IDEA: XBRL DOCUMENT v3.23.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 9,509 $ 11,586
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 9,661 8,901
Amortization of intangibles 5,124 4,711
Amortization of debt financing fees 149 139
Loss (gain) on disposal of assets 65 (15)
Provision for losses on accounts receivable 0 479
Unrealized foreign exchange losses (gains) on forward contracts (6,336) 759
Deferred taxes (90) (19)
Stock-based compensation expense 13,464 19,605
Changes in operating assets and liabilities:    
Accounts receivable 8,070 (9,979)
Prepaid expenses and other current assets (16) (2,478)
Operating lease right-of-use assets 3,825 3,226
Other noncurrent assets 34 (223)
Accounts payable and accrued liabilities (5,356) (1,071)
Accrued payroll and employee-related liabilities 3,520 (1,392)
Operating lease liabilities (3,310) (2,804)
Income tax payable 5,789 4,686
Deferred revenue (417) 779
Other noncurrent liabilities (2) 0
Net cash provided by operating activities 43,683 36,890
Cash flows from investing activities:    
Purchase of property and equipment (5,244) (17,770)
Investment in loan receivable (1,000) 0
Net cash used in investing activities (6,244) (17,770)
Cash flows from financing activities:    
Payments on long-term debt (675) (2,625)
Proceeds from employee stock plans 209 0
Payments for taxes related to net share settlement (257) (1,469)
Payments for stock repurchases (6,374) 0
Net cash used in financing activities (7,097) (4,094)
Increase in cash and cash equivalents 30,342 15,026
Effect of exchange rate changes on cash 2,677 (1,536)
Cash and cash equivalents at beginning of period 133,992 63,584
Cash and cash equivalents at end of period $ 167,011 $ 77,074