XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net income (loss) $ 3,424 $ (1,360)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 646 687
Amortization of intangible assets 714 845
Deferred tax (benefit) expense from stock issuances (526) 274
Write-off of deferred financing costs   167
Amortization of deferred financing costs 90 126
Stock-based compensation 2,148 2,419
Change in fair value of contingent consideration 32  
(Benefits) provisions for accounts receivable (62) 29
Deferred tax provision 578 523
Changes in operating assets and liabilities:    
Accounts receivable and contract assets 1,555 4,561
Prepaid expense and other assets 1,382 (454)
Accounts payable 6,484 1,094
Contract liabilities 822 (2,000)
Accrued expenses (5,234) (2,304)
Net cash provided by operating activities 12,053 4,607
Cash flows from investing activities    
Purchase of furniture, fixtures and equipment (441) (173)
Net cash used in investing activities (441) (173)
Cash flows from financing activities    
Principal payments on borrowings (1,075)  
Proceeds from issuance of employee stock purchase plan shares 129 123
Debt financing costs   (934)
Payments related to tax withholding for stock-based compensation (1,939) (618)
Treasury shares repurchased (2,950) (3,367)
Net cash used in financing activities (5,835) (4,796)
Effect of exchange rate changes on cash (938) (397)
Net increase (decrease) in cash, cash equivalents, and restricted cash 4,839 (759)
Cash, cash equivalents, and restricted cash, beginning of period 43,825 18,241
Cash, cash equivalents, and restricted cash, end of period $ 48,664 17,482
Non-cash investing and financing activities:    
Issuance of treasury stock for vested restricted stock awards   $ 2,196