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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net (loss) income $ (1,351) $ 5,824
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Depreciation expense 1,635 1,583
Amortization of intangible assets 1,492 1,583
Deferred tax expense from stock issuances 66 41
Write-off of deferred financing costs   379
Amortization of deferred financing costs 111 127
Stock-based compensation 3,361 4,654
Change in fair value of contingent consideration 57 51
Provisions for credit losses 559 464
Deferred tax (benefit) provision (1,673) 67
Changes in operating assets and liabilities:    
Accounts receivable and contract assets 889 (7,411)
Prepaid expenses and other assets 28 (991)
Accounts payable (2,899) (7,119)
Contract liabilities (629) (157)
Accrued expenses and other liabilities 2,870 352
Net cash provided by (used in) operating activities 4,516 (553)
Cash flows from investing activities    
Purchase of furniture, fixtures and equipment (1,914) (969)
Net cash used in investing activities (1,914) (969)
Cash flows from financing activities    
Proceeds from revolving facility (Note 10) 5,000 79,175
Repayment of outstanding debt (Note 10) (10,000) (79,175)
Proceeds from issuance of employee stock purchase plan shares 446 480
Debt financing costs   (827)
Payments related to tax withholding for stock-based compensation (1,491) (1,537)
Payment of contingent consideration (1,657) (1,460)
Cash dividends paid to shareholders (2,522) (4,186)
Treasury shares repurchased (3,000) (1,994)
Net cash used in financing activities (13,224) (9,524)
Effect of exchange rate changes on cash (301) 114
Net decrease in cash, cash equivalents, and restricted cash (10,923) (10,932)
Cash, cash equivalents, and restricted cash, beginning of period 22,809 30,670
Cash, cash equivalents, and restricted cash, end of period 11,886 19,738
Supplemental disclosures of cash flow information:    
Interest 2,829 2,405
Taxes, net of refunds 2,081 4,659
Non-cash investing and financing activities:    
Issuance of treasury stock for vested restricted stock units $ 5,142 $ 5,188