XML 15 R5.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Cash flows from operating activities      
Net (loss) $ (9,848) $ 161  
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:      
Non-cash equity-based compensation expense 13,773 10,602  
Non-cash lease expense 177 116  
Depreciation expense on property and equipment 98 82  
Amortization of intangible assets 683 746 $ 2,984
Amortization of deferred debt issuance costs 209 345  
Credit losses (88) 157  
Deferred taxes 1,110 (358)  
Tax receivable agreement liability adjustments (630) (156)  
Changes in operating assets and liabilities:      
Accounts receivable 15,019 15,870  
Prepaid expenses and other current assets 2,613 690  
Other assets 47 125  
Accounts payable (10,261) (33,675)  
Accrued expenses (4,813) (4,061)  
Net cash provided by (used in) operating activities 8,089 (9,356)  
Cash flows from investing activities      
Purchases of property and equipment (40) (69)  
Net cash (used in) investing activities (40) (69)  
Cash flows from financing activities      
Repayments on long-term debt (2,375) 0  
Distributions (130) 0  
Shares withheld for taxes on vesting of restricted stock units (820) (1,276)  
Net cash (used in) financing activities (3,325) (1,276)  
Net increase (decrease) in cash and cash equivalents 4,724 (10,701)  
Cash and cash equivalents, beginning of period 50,564 23,554 23,554
Cash and cash equivalents, end of period 55,288 12,853 $ 50,564
Supplemental disclosures of cash flow information      
Interest 2,834 754  
Income taxes paid, net of refunds (1,365) 51  
Non-cash Investing and Financing Activities:      
Adjustments to liabilities under the tax receivable agreement (251) (53,117)  
Establishment of deferred tax assets in connection with the Reorganization Transactions (270) (59,307)  
Right-of-use assets obtained in exchange of lease obligations $ 0 $ 2,712