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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash flows from operating activities      
Net income (loss) $ (27,932) $ 12,886  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 26,140 28,589  
Stock based compensation 4,054 3,094  
Amortization of debt issuance costs 712 702  
Loss on business disposition 9,878    
Fair value change in tax receivable agreement liability 4,538 (24,619)  
Fair value change in contingent consideration   (2,900)  
Deferred tax expense 4,357 3,842  
Change in accounts receivable (2,541) (1,076)  
Change in prepaid expenses and other 3,921 (362)  
Change in operating lease ROU assets 270 (973)  
Change in accounts payable (916) 1,656  
Change in related party payable 435 (170)  
Change in accrued expenses and other (1,716) (7,266)  
Change in operating lease liabilities (264) 1,030  
Change in other liabilities (105) (679)  
Net cash provided by operating activities 20,831 13,754  
Cash flows from investing activities      
Purchases of property and equipment (528) (553)  
Purchases of intangible assets (13,201) (7,013)  
Proceeds from sale of business, net of cash retained 40,423    
Net cash provided by (used in) investing activities 26,694 (7,566)  
Cash flows from financing activities      
Payments on long-term debt (20,000)    
Shares repurchased under Incentive Plan (1,205) (1,698)  
Distributions to Members (54)    
Payment of contingent consideration liability up to acquisition-date fair value (1,000)    
Net cash used in financing activities (22,259) (1,698)  
Increase in cash, cash equivalents and restricted cash 25,266 4,490  
Cash, cash equivalents and restricted cash at beginning of period 93,563 76,340 $ 76,340
Cash, cash equivalents and restricted cash at end of period 118,829 80,830 $ 93,563
Cash paid during the year for:      
Interest $ 449 $ 286