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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net income $ 6,154 $ 19,726 $ 15,529
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Depreciation expense 3,094 3,045 2,688
Amortization of intangible assets 3,164 2,323 2,643
Deferred tax benefit from stock issuances (241) (1,290) (2,389)
Write-off of deferred financing costs 379    
Amortization of deferred financing costs 238 340 354
Stock-based compensation 9,132 7,460 6,467
Change in fair value of contingent consideration 104 1,420 101
Provisions for credit losses 5,434 320 (138)
Deferred tax (benefit) provision (1,966) 757 2,330
Changes in operating assets and liabilities:      
Accounts receivable and contract assets (6,662) (13,989) 2,648
Prepaid expenses and other assets (6,471) (948) (243)
Accounts payable (4,962) (699) 4,503
Contract liabilities 1,101 (76) 1,928
Accrued expenses and other liabilities 3,774 (7,243) 5,521
Net cash provided by operating activities 12,272 11,146 41,942
Cash flows from investing activities      
Change 4 Growth acquisition (Note 4)   (3,450)  
Ventana Research acquisition (Note 4) (1,000)    
Purchase of furniture, fixtures and equipment (3,433) (3,423) (2,320)
Net cash used in investing activities (4,433) (6,873) (2,320)
Cash flows from financing activities      
Proceeds from revolving facility (Note 12) 84,175 9,000  
Repayment of outstanding debt (Note 12) (84,175)    
Principal payments on borrowings   (4,300) (4,300)
Proceeds from issuance of employee stock purchase plan shares 930 944 610
Debt financing costs (827)    
Payments related to tax withholding for stock-based compensation (2,657) (4,054) (7,109)
Payment of contingent consideration (1,460) (1,000) (2,558)
Cash dividends paid to shareholders (8,687) (7,461) (4,437)
Treasury shares repurchased (3,497) (12,070) (16,331)
Net cash used in financing activities (16,198) (18,941) (34,125)
Effect of exchange rate changes on cash 498 (2,271) (1,713)
Net (decrease) increase in cash, cash equivalents, and restricted cash (7,861) (16,939) 3,784
Cash, cash equivalents, and restricted cash, beginning of period 30,670 47,609 43,825
Cash, cash equivalents, and restricted cash, end of period 22,809 30,670 47,609
Supplemental disclosures of cash flow information:      
Interest 5,263 2,397 1,875
Taxes, net of refunds 8,239 12,516 3,582
Non-cash investing and financing activities:      
Issuance of treasury stock for vested restricted stock units $ 8,471 $ 11,315 $ 12,167