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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities    
Net income $ 15,529 $ 2,755
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 2,688 2,664
Amortization of intangible assets 2,643 3,532
Deferred tax (benefit) expense from stock issuances (2,389) 969
Write-off of deferred financing costs   167
Amortization of deferred financing costs 354 403
Stock-based compensation 6,467 8,891
Change in fair value of contingent consideration 101 419
(Benefits) provisions for accounts receivable (138) 817
Deferred tax provision (benefit) 2,330 (139)
Changes in operating assets and liabilities:    
Accounts receivable and contract assets 2,648 10,065
Prepaid expense and other assets (243) (1,689)
Accounts payable 4,503 2,070
Contract liabilities 1,928 (93)
Accrued expenses 5,521 13,140
Net cash provided by operating activities 41,942 43,971
Cash flows from investing activities    
Purchase of furniture, fixtures and equipment (2,320) (1,181)
Neuralify acquisition (Note 4)   (2,317)
Net cash used in investing activities (2,320) (3,498)
Cash flows from financing activities    
Principal payments on borrowings (4,300) (8,088)
Proceeds from issuance of employee stock purchase plan shares 610 516
Debt financing costs   (934)
Payments related to tax withholding for stock-based compensation (7,109) (2,023)
Payment of contingent consideration (2,558)  
Cash dividends paid to shareholders (4,437)  
Treasury shares repurchased (16,331) (5,166)
Net cash used in financing activities (34,125) (15,695)
Effect of exchange rate changes on cash (1,713) 806
Net increase in cash, cash equivalents, and restricted cash 3,784 25,584
Cash, cash equivalents, and restricted cash, beginning of period 43,825 18,241
Cash, cash equivalents, and restricted cash, end of period 47,609 43,825
Cash paid for:    
Interest 1,875 3,114
Taxes, net of refunds 3,582 2,536
Non-cash investing and financing activities:    
Issuance of treasury stock for vested restricted stock awards $ 12,167 $ 6,359