XML 14 R6.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Cash flows from operating activities      
Net loss $ (5,365,000) $ (27,932,000)  
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 27,028,000 26,140,000  
Stock based compensation 6,282,000 4,054,000  
Amortization of debt issuance costs 712,000 712,000  
Loss on business disposition   9,878,000  
Fair value change in tax receivable agreement liability 2,913,000 4,538,000  
Deferred tax expense 302,000 4,357,000  
Change in accounts receivable (3,967,000) (2,541,000)  
Change in prepaid expenses and other (520,000) 3,921,000  
Change in operating lease ROU assets 2,084,000 270,000  
Change in accounts payable 1,679,000 (916,000)  
Change in related party payable   435,000  
Change in accrued expenses and other (4,982,000) (1,716,000)  
Change in operating lease liabilities (2,201,000) (264,000)  
Change in other liabilities 836,000 (105,000)  
Net cash provided by operating activities 24,801,000 20,831,000  
Cash flows from investing activities      
Purchases of property and equipment (87,000) (528,000)  
Capitalized software development costs (11,042,000) (13,201,000)  
Proceeds from sale of business, net of cash retained   40,423,000  
Net cash (used in) provided by investing activities (11,129,000) 26,694,000  
Cash flows from financing activities      
Payments on long-term debt   (20,000,000)  
Payments for tax withholding related to shares vesting under Incentive Plan (2,407,000) (1,205,000)  
Distributions to Members   (54,000)  
Payment of Tax Receivable Agreement ("TRA") (580,000)    
Payment of contingent consideration liability up to acquisition-date fair value   (1,000,000)  
Net cash used in financing activities (2,987,000) (22,259,000)  
Increase in cash, cash equivalents and restricted cash 10,685,000 25,266,000  
Cash, cash equivalents and restricted cash at beginning of period 144,145,000 93,563,000 $ 93,563,000
Cash, cash equivalents and restricted cash at end of period 154,830,000 118,829,000 $ 144,145,000
Cash paid during the year for:      
Interest $ 200,000 $ 449,000