XML 16 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash flows from operating activities              
Net income (loss) $ 11,888 $ (1,491) $ (18,698) $ (14,584) $ 14,817 $ (53,262)  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:              
Equity-based compensation expense         26,452 43,943  
Non-cash lease expense         596 508  
Depreciation expense on property and equipment         191 275  
Amortization of intangible assets 1,600   1,700   4,827 5,188 $ 6,917
Amortization of deferred debt issuance costs 200   200   569 597  
Impairment of cost method investment         0 1,406  
Credit losses         519 (220)  
Tax receivable agreement liability adjustments         0 6  
Changes in operating assets and liabilities:              
Accounts receivable         (73,560) 27,167  
Prepaid expenses and other current assets         547 3,059  
Other assets         375 375  
Accounts payable         53,298 (15,243)  
Accrued expenses         2,712 1,138  
Net cash provided by operating activities         31,343 14,937  
Cash flows from investing activities              
Purchases of property and equipment         (207) (60)  
Acquisition of intangible assets         (400) 0  
Net cash (used in) investing activities         (607) (60)  
Cash flows from financing activities              
Repayments on long-term debt         (10,172) (7,125)  
Contributions from QLH’s members         756 196  
Distributions         (1,111) (1,572)  
Payments pursuant to tax receivable agreement         0 (2,822)  
Shares withheld for taxes on vesting of restricted stock units         (5,176) (2,900)  
Net cash (used in) financing activities         (15,703) (14,223)  
Net increase in cash and cash equivalents         15,033 654  
Cash and cash equivalents, beginning of period   $ 17,271   $ 14,542 17,271 14,542 14,542
Cash and cash equivalents, end of period $ 32,304   $ 15,196   32,304 15,196 $ 17,271
Supplemental disclosures of cash flow information              
Interest         10,670 10,081  
Income taxes paid, net of refunds         $ 104 $ (233)