XML 19 R8.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Operating activities:        
Net (loss) income $ (2,186) $ (1,667) $ (4,514) $ 26,172
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:        
Income from discontinued operations, net of taxes (167) (110) (358) (217)
Loss on disposal of discontinued operations, net of taxes 0 0 404 0
Equity in net loss of limited liability investments     162 33
Depreciation and amortization expense     3,244 2,974
Stock-based compensation expense     585 567
Net realized gains (277) (123) (401) (333)
Net loss (gain) on change in fair value of equity investments 0 (1,707) 3 (2,782)
(Gain) loss on change in fair value of limited liability investment, at fair value (86) (4) (78) 126
Impairment of intangible assets 690 (0) 1,201 (0)
Loss on change in fair value of debt     129 30
Loss on change in fair value of derivatives     49 1,488
Loss on change in fair value of contingent consideration     270 65
Deferred income taxes     (108) 112
Impairment losses (0) 95 (0) 95
Amortization of fixed maturities premiums and discounts     (10) 19
Loss (gain) on extinguishment of debt 160 0 160 (31,616)
Changes in operating assets and liabilities:        
Service fee receivable, net     214 233
Other receivables, net     302 2,090
Deferred contract costs     (259) (535)
Other assets     (364) 483
Deferred service fees     874 120
Other, net     (999) (23,827)
Cash provided by (used in) operating activities - continuing operations     506 (24,703)
Cash provided by operating activities - discontinued operations     300 280
Net cash provided by (used in) operating activities     806 (24,423)
Investing activities:        
Proceeds from sales and maturities of fixed maturities     3,652 4,121
Proceeds from sales of equity investments     77 0
Purchases of fixed maturities     (3,439) (2,596)
Net proceeds from limited liability investments     0 154
Net proceeds from limited liability investment, at fair value     1,052 13,461
Net proceeds from investments in private companies     16 0
Net proceeds from other investments and short-term investments     2 13
Acquisition of business, net of cash acquired     7 0
Net purchases of property and equipment     (437) (14)
Cash provided by investing activities - continuing operations     930 15,139
Cash used in investing activities - discontinued operations     0 (11)
Net cash provided by investing activities     930 15,128
Financing activities:        
Proceeds from exercise of warrants     0 6,560
Cash paid for repurchase of warrants     0 (1,633)
Cash paid for repurchase of common stock     (954) (51)
Distributions to noncontrolling interest holders     (678) (3,584)
Taxes paid related to net share settlements of restricted stock awards     (1,844) 0
Principal proceeds from bank loans, net of debt issuance costs of $123     19,077 0
Principal payments on bank loans     (16,579) (4,827)
Purchase of subordinated debt     0 (40,328)
Payment of debt issuance costs     0 (25)
Cash used in financing activities - continuing operations     (978) (43,888)
Cash used in financing activities - discontinued operations     (312) (303)
Net cash used in financing activities     (1,290) (44,191)
Net increase (decrease) in cash and cash equivalents and restricted cash from continuing operations     458 (53,452)
Cash and cash equivalents and restricted cash at beginning of period 18,110 77,802 18,110 77,802
Less: cash and cash equivalents and restricted cash of discontinued operations 612 570 612 570
Cash and cash equivalents and restricted cash of continuing operations at beginning of period     17,498 77,232
Cash and cash equivalents and restricted cash of continuing operations at end of period 17,956 23,780 17,956 23,780
Cash and cash equivalents 9,594 14,162 9,594 14,162
Restricted cash 8,362 9,618 8,362 9,618
Cash and cash equivalents and restricted cash per statements of cash flows $ 17,956 $ 23,780 $ 17,956 $ 23,780