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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from operating activities      
Net income $ 10,562 $ 17,820 $ 18,125
Adjustments to reconcile net income to net cash provided by operating activities:      
Non-cash equity-based compensation expense 24,745 2,308 824
Depreciation expense on property and equipment 289 272 187
Amortization of intangible assets 3,201 5,381 11,769
Amortization of deferred debt issuance costs 1,228 665 15
Loss on extinguishment of debt 1,998    
Bad debt expense 526 354 533
Deferred taxes (545)    
Tax receivable agreement liability adjustments 413    
Changes in operating assets and liabilities:      
Accounts receivable (40,809) (19,216) (5,155)
Prepaid expenses and other current assets (6,482) (162) (262)
Other assets (4,375)    
Accounts payable 57,793 13,441 (5,373)
Accrued expenses 2,866 1,280 1,986
Net cash provided by operating activities 51,410 22,143 22,649
Cash flows from investing activities      
Purchases of property and equipment (296) (146) (630)
Acquisition of intangible assets   (148) (10)
Purchase of cost method investment (10,000)    
Net cash (used in) investing activities (10,296) (294) (640)
Cash flows from financing activities      
Proceeds from issuance of Class A common stock, net of underwriter commission 124,179    
Issuance of long-term debt 210,000 100,000  
Revolving line of credit 7,500   3,000
Member contributions   62,806  
Repayments on revolving line of credit (7,500)   (9,000)
Repayments on long-term debt (123,648) (15,073) (3,567)
Debt issuance costs (4,467) (2,303)  
Repurchase of Class B units at QLH up to fair value (1,453) (4,467)  
IPO costs to third parties (12,227)    
Shares withheld for taxes on vesting of restricted stock units (4,235)    
Repurchase of Class B common stock (84,320)    
Redemption of Class A units   (62,806)  
Member distributions (131,417) (95,640) (15,878)
Net cash (used in) financing activities (27,588) (17,483) (25,445)
Net increase (decrease) in cash and cash equivalents 13,526 4,366 (3,436)
Cash and cash equivalents, beginning of period 10,028 5,662 9,098
Cash and cash equivalents, end of period 23,554 10,028 5,662
Supplemental disclosures of cash flow information      
Interest 6,040 6,399 $ 1,201
Redemption of Class B units of QLH in excess of fair value 791 $ 1,286  
Non-cash Investing and Financing Activities:      
Establishment of liabilities under the tax receivable agreement in connection with the Reorganization Transactions (22,085)    
Establishment of tax indemnification receivable in connection with the Reorganization Transactions (1,835)    
Establishment of deferred tax assets in connection with the Reorganization Transactions $ (31,068)