XML 18 R6.htm IDEA: XBRL DOCUMENT v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 3,877 $ 4,884
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,524 19,808
Equity-based compensation 7,746 12,285
Amortization of debt issuance costs 530 676
Gain on repurchase of exchangeable notes 0 (2,397)
Loss on sale of exchangeable senior note hedges 0 245
Gain on repurchases of warrants 0 (105)
Provision for (benefit from) deferred income taxes 1,859 (1,238)
Adjustments to loss (gain) on sale of Merchant Services Business 657  
Non-cash lease expense 1,162 2,349
Changes in non-cash contingent consideration expense from original estimate 1,758 (527)
Other non-cash adjustments to net income (366) 668
Changes in operating assets:    
Accounts receivable 25 5,517
Prepaid expenses and other current assets (3,145) (3,385)
Other assets (454) (802)
Changes in operating liabilities:    
Accounts payable (1,020) 896
Accrued expenses and other current liabilities (40,839) (8,621)
Acquisition escrow obligations 26 (1,848)
Deferred revenue (1,030) 2,257
Operating lease liabilities (1,776) (2,364)
Other long-term liabilities (101) 2
Contingent consideration paid in excess of original estimates (60) (3,153)
Net cash (used in) provided by operating activities (15,627) 25,147
Cash flows from investing activities:    
Expenditures for property and equipment (972) (1,537)
Proceeds from sale of property and equipment 1,501 618
Expenditures for capitalized software (4,204) (6,106)
Purchases of merchant portfolios and residual buyouts 0 (4,214)
Acquisitions of businesses, net of cash and restricted cash acquired 0 (1,100)
Payments for other investing activities 0 (34)
Proceeds from other investing activities 0 4
Net cash used in investing activities (3,675) (12,369)
Cash flows from financing activities:    
Proceeds from revolving credit facility 36,052 206,419
Payments on revolving credit facility (24,052) (132,710)
Payments to extinguish exchangeable notes (26,223) 0
Payments for repurchase of exchangeable notes 0 (87,840)
Proceeds from sale of exchangeable senior note hedges 0 1,238
Payments for repurchases of warrants 0 (552)
Payments for repurchases of Class A common stock (11,498) 0
Net payments for settlement obligations (565) (3,287)
Cash paid for contingent consideration 0 (760)
Payments for required distributions to members or on behalf of members for tax obligations (23,939) (189)
Payments for required distributions to members under the Tax Receivable Agreement (9,954) 0
Proceeds from stock option exercises 150 0
Payments for employee's tax withholdings from net settled stock option exercises and RSU releases 0 (204)
Net cash used in financing activities (60,029) (17,885)
Net decrease in cash, cash equivalents and restricted cash (79,331) (5,107)
Cash, cash equivalents and restricted cash at beginning of period 89,597 12,400
Cash, cash equivalents and restricted cash at end of period 10,266 7,293
Supplemental disclosure of cash flow information:    
Cash paid for interest 440 14,107
Cash paid for income taxes $ 34,157 $ 5,376