XML 18 R6.htm IDEA: XBRL DOCUMENT v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ 4,732 $ (13,251)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 12,351 10,731
Stock-based compensation 15,306 24,735
Provision for doubtful accounts 876 63
Loss on disposal of assets 21 118
Noncash lease expense 2,983 2,941
Changes in operating assets and liabilities:    
Accounts receivable (19,050) (4,653)
Prepaid expenses and other assets (3,705) 1,350
Accounts payable 18,750 (5,639)
Accrued liabilities 5,757 151
Accrued compensation (705) (781)
Deferred revenue 29 1,179
Operating lease liabilities (3,199) (2,736)
Other liabilities 1,130 295
Net cash provided by operating activities 35,276 14,503
Cash flows from investing activities:    
Purchases of property and equipment (2,280) (719)
Capitalized software development costs (11,141) (8,941)
Net cash used in investing activities (13,421) (9,660)
Cash flows from financing activities:    
Repurchase of treasury stock related to tax withholdings on vested equity awards (8,484) (3,202)
Repurchase of treasury stock related to the stock repurchase program (11,468) 0
Payment of member tax distributions (5,306) (5,207)
Proceeds from the exercise of stock options 1,903 0
Payment of offering costs (326) 0
Net cash used in financing activities (23,681) (8,409)
Net decrease in cash and cash equivalents (1,826) (3,566)
Cash and cash equivalents at beginning of period 216,458 206,573
Cash and cash equivalents at end of period 214,632 203,007
Supplemental disclosure of cash flow information:    
Cash paid for interest 211 145
Supplemental disclosure of non-cash investing and financing activities:    
Stock-based compensation included in capitalized software development costs 1,741 4,323
Operating lease assets obtained in exchange for operating lease liabilities 4,630 371
Capitalized assets financed by accounts payable and accrued liabilities 1,157 1,078
Accrued member tax distributions $ 0 $ 4,269