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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended
--- | ---
Jun. 30, 2022 | Jun. 30, 2021
Cash flow from operating activities |  |
Income before tax | $ 5,041 | $ 8,159
Finance expenses (income), net | (3,012) | 209
Adjustments for non-cash items: |  |
Depreciation and amortization | 3,778 | 1,216
Movements in credit loss allowance and write-offs | 597 | (100)
Fair value movement on contingent consideration | 2,849 | 0
Share option charge | 1,609 | 1,063
Cash flows from operating activities before changes in working capital | 10,862 | 10,547
Changes in working capital |  |
Trade and other receivables | (2,639) | (1,243)
Trade and other payables | 304 | 2,710
Warrants repurchased | (800) | 0
Income tax paid | (783) | (536)
Cash flows generated by operating activities | 6,944 | 11,478
Cash flows from investing activities |  |
Acquisition of property and equipment | (242) | (218)
Acquisition of intangible assets | (2,516) | (1,741)
Acquisition of subsidiaries, net of cash acquired | (23,409) | 0
Cash flows used in investing activities | (26,167) | (1,959)
Cash flows from financing activities |  |
Interest paid | (120) | (121)
Principal paid on lease liability | (165) | (95)
Interest paid on lease liability | (95) | (96)
Cash flows used in financing activities | (380) | (312)
Net movement in cash and cash equivalents | (19,603) | 9,207
Cash and cash equivalents at the beginning of the period | 51,047 | 8,225
Net foreign exchange differences on cash and cash equivalents | (342) | (264)
Cash and cash equivalents at the end of the period | $ 31,102 | $ 17,168

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