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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net income $ 11,951 $ 1,307
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 1,961 2,023
Amortization of intangible assets 2,001 2,618
Deferred tax (benefit) expense from stock issuances (2,155) 972
Write-off of deferred financing costs   167
Amortization of deferred financing costs 267 313
Stock-based compensation 5,075 6,544
Change in fair value of contingent consideration 113  
(Benefits) provisions for accounts receivable (152) 599
Deferred tax provision (benefit) 2,873 (984)
Changes in operating assets and liabilities:    
Accounts receivable and contract assets 1,889 10,764
Prepaid expense and other assets 1,718 2,134
Accounts payable 4,080 323
Contract liabilities 1,863 (669)
Accrued expenses 7,980 11,196
Net cash provided by operating activities 39,464 37,307
Cash flows from investing activities    
Purchase of furniture, fixtures and equipment (1,500) (795)
Neuralify acquisition (Note 4)   (2,282)
Net cash used in investing activities (1,500) (3,077)
Cash flows from financing activities    
Principal payments on borrowings (3,225) (7,013)
Proceeds from issuance of employee stock purchase plan shares 449 399
Debt financing costs   (934)
Payments related to tax withholding for stock-based compensation (6,738) (1,909)
Cash dividends paid to shareholders (2,940)  
Treasury shares repurchased (13,358) (5,052)
Net cash used in financing activities (25,812) (14,509)
Effect of exchange rate changes on cash (1,383) 270
Net increase in cash, cash equivalents, and restricted cash 10,769 19,991
Cash, cash equivalents, and restricted cash, beginning of period 43,825 18,241
Cash, cash equivalents, and restricted cash, end of period 54,594 38,232
Non-cash investing and financing activities:    
Issuance of treasury stock for vested restricted stock awards $ 10,612 $ 6,305