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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 9,887 $ 7,530
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 1,532 1,257
Amortization of intangible assets 1,055 1,358
Deferred tax benefit from stock issuances (464) (1,358)
Amortization of deferred financing costs 172 179
Stock-based compensation 3,445 3,576
Change in fair value of contingent consideration 1,420 66
Provisions (benefits) for accounts receivable 363 (149)
Deferred tax provision 540 1,785
Changes in operating assets and liabilities:    
Accounts receivable and contract assets (3,773) (2,300)
Prepaid expense and other assets 2,626 1,290
Accounts payable (4,484) 4,849
Contract liabilities 352 2,365
Accrued expenses (7,735) 482
Net cash provided by operating activities 4,936 20,930
Cash flows from investing activities    
Purchase of furniture, fixtures and equipment (2,104) (965)
Net cash used in investing activities (2,104) (965)
Cash flows from financing activities    
Principal payments on borrowings (2,150) (2,150)
Proceeds from issuance of employee stock purchase plan shares 448 287
Payments related to tax withholding for stock-based compensation (1,362) (4,595)
Cash dividends paid to shareholders (3,399) (1,451)
Treasury shares repurchased (9,596) (11,216)
Net cash used in financing activities (16,059) (19,125)
Effect of exchange rate changes on cash (2,828) (778)
Net (decrease) increase in cash, cash equivalents, and restricted cash (16,055) 62
Cash, cash equivalents, and restricted cash, beginning of period 47,609 43,825
Cash, cash equivalents, and restricted cash, end of period 31,554 43,887
Non-cash investing and financing activities:    
Issuance of treasury stock for vested restricted stock awards $ 4,323 $ 6,323