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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Operating activities:        
Net (loss) income $ (2,311) $ (675) $ (6,825) $ 25,497
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:        
Income from discontinued operations, net of taxes (81) (122) (439) (339)
Loss on disposal of discontinued operations, net of taxes 216 0 620 0
Equity in net loss of limited liability investments     161 41
Depreciation and amortization expense     4,841 4,466
Stock-based compensation expense     1,447 953
Net realized gains (958) (206) (1,359) (539)
Net loss (gain) on change in fair value of equity investments 0 (592) 3 (3,374)
Gain on change in fair value of limited liability investment, at fair value (95) (320) (173) (194)
Net change in unrealized gain on private company investments 0 (63) 0 (63)
Impairment of intangible assets 640 (0) 1,841 (0)
Loss on change in fair value of debt     48 195
Loss on change in fair value of derivatives     49 1,565
Loss on change in fair value of contingent consideration     270 65
Deferred income taxes     (200) (100)
Impairment losses on investments (0) 71 (0) 166
Amortization of fixed maturities premiums and discounts     (14) 20
Gain on disposal of subsidiary 0 (342) 0 (342)
Loss (gain) on extinguishment of debt 0 0 160 (31,616)
Changes in operating assets and liabilities:        
Service fee receivable, net, adjusted for Image Solutions assets acquired     784 1,203
Other receivables, net     (19) 2,519
Deferred contract costs     (360) (635)
Other assets, adjusted for Image Solutions assets acquired     (354) 871
Deferred service fees     663 (399)
Other, net, adjusted for Image Solutions liabilities acquired     (432) (25,644)
Cash provided by (used in) operating activities - continuing operations     712 (25,684)
Cash provided by operating activities - discontinued operations     462 426
Net cash provided by (used in) operating activities     1,174 (25,258)
Investing activities:        
Proceeds from sales and maturities of fixed maturities     5,618 6,416
Proceeds from sales of equity investments     77 3,321
Purchases of fixed maturities     (5,133) (4,612)
Net proceeds from limited liability investments     0 180
Net proceeds from limited liability investment, at fair value     2,238 14,061
Net proceeds from investments in private companies     257 27
Net proceeds from other investments and short-term investments     0 16
Net proceeds from disposal of subsidiary     0 147
Acquisition of business, net of cash acquired     (20,016) (2,766)
Net purchases of property and equipment, adjusted for Image Solutions assets acquired     (587) (80)
Cash (used in) provided by investing activities - continuing operations     (16,410) 16,710
Cash used in investing activities - discontinued operations     0 (11)
Net cash (used in) provided by investing activities     (16,410) 16,699
Financing activities:        
Proceeds from exercise of warrants     0 16,658
Cash paid for repurchase of warrants     0 (4,031)
Proceeds from issuance of preferred stock     8,250 0
Cash paid for repurchase of common stock     (2,504) (802)
Cash paid to acquire noncontrolling interest     (2,500) 0
Distributions to noncontrolling interest holders     (1,413) (4,008)
Taxes paid related to net share settlements of restricted stock awards     (2,195) (384)
Principal proceeds from bank loans, net of debt issuance costs of $287     33,663 0
Principal payments on bank loans     (19,963) (6,052)
Purchase of subordinated debt     0 (40,328)
Cash provided by (used in) financing activities - continuing operations     13,338 (38,972)
Cash used in financing activities - discontinued operations     (435) (431)
Net cash provided by (used in) financing activities     12,903 (39,403)
Net decrease in cash and cash equivalents and restricted cash from continuing operations     (2,360) (47,946)
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 15,138 29,286 15,138 29,286
Reconciliation of cash and cash equivalents and restricted cash to the consolidated balance sheets:        
Cash and cash equivalents 6,508 20,183 6,508 20,183
Restricted cash 8,630 9,103 8,630 9,103
Cash and cash equivalents and restricted cash per statements of cash flows $ 15,138 $ 29,286 15,138 29,286
Debt, Excluding Bank Loans [Member]        
Financing activities:        
Payment of debt issuance costs     0 (25)
Discontinued Operations, Disposed of by Sale [Member]        
Investing activities:        
Net proceeds from sale of discontinued operation     $ 1,136 $ 0