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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows Used In Operating Activities    
Net loss before dividends declared and accretion of Series A preferred stock $ (19,982) $ (5,350)
Adjustments to reconcile net loss to net cash and restricted cash used in operating activities:    
Change in fair value of contingent consideration 8,569 6,078
Gain from equity method investees (423) (596)
Depreciation and amortization expenses 29,275 15,106
Stock-based compensation expense 10,710 5,346
Deferred tax provision (68,728) (132)
Amortization of contract cost assets 2,290 11,689
Amortization of deferred financing costs 911 539
Change in tax receivable agreement liability 66,184 0
Right-of-use operating assets (4,620) (1,718)
Operating lease liabilities (4,250) (1,992)
Other current operating cash outflows, net (56) (357)
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable, net and contract assets 19,832 (46,299)
Prepaid expenses and other current and non-current assets (13,758) (6,071)
Contract cost assets (1,326) (1,106)
Accounts payable (13,585) 426
Accrued liabilities 4,785 2,220
Accrued compensation and employee benefits (31,401) (32,435)
Deferred revenue 1,169 1,344
Reserve for claims and performance-based arrangements (2,533) (7,056)
Other long-term liabilities (277) (514)
Net cash and restricted cash used in operating activities (7,974) (57,442)
Cash Flows Provided by (Used In) Investing Activities    
Cash paid for asset acquisitions and business combinations (386,724) (70)
Proceeds from transfer of membership and release of Passport escrow 0 22,969
Return of equity method investments 786 2,375
Investments in internal-use software and purchases of property and equipment (9,055) (8,508)
Net cash and restricted cash provided by (used in) investing activities (394,993) 16,766
Cash Flows Provided by (Used In) Financing Activities    
Changes in working capital balances related to claims processing on behalf of partners 7,576 (34,371)
Proceeds from stock option exercises 1,581 309
Proceeds from issuance of long-term debt, net of offering costs 256,330 0
Repayment of long-term debt (37,500) 0
Distributions to Sponsors 0 (1,100)
Proceeds from issuance of preferred stock, net of offering costs 168,000 0
Payment of preferred dividends (3,651) 0
Taxes withheld and paid for vesting of equity awards (12,607) (16,214)
Net cash and restricted cash provided by (used in) financing activities 379,729 (51,376)
Effect of exchange rate on cash and cash equivalents and restricted cash 50 (104)
Net decrease in cash and cash equivalents and restricted cash (23,188) (92,156)
Cash and cash equivalents and restricted cash as of beginning-of-period 215,158 354,942
Cash and cash equivalents and restricted cash as of end-of-period $ 191,970 $ 262,786