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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net (loss) income $ (203) $ 9,025
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Depreciation expense 2,494 2,340
Amortization of intangible assets 2,230 2,352
Deferred tax expense from stock issuances (372) (230)
Write-off of deferred financing costs   379
Amortization of deferred financing costs 167 182
Stock-based compensation 5,690 6,752
Change in fair value of contingent consideration (2,323) 77
Provisions for credit losses 1,098 432
Deferred tax (benefit) provision (136) 125
Changes in operating assets and liabilities:    
Accounts receivable and contract assets 4,433 (12,380)
Prepaid expenses and other assets (287) (2,145)
Accounts payable (1,459) (4,653)
Contract liabilities 545 (370)
Accrued expenses and other liabilities 1,435 720
Net cash provided by operating activities 13,312 2,606
Cash flows from investing activities    
Purchase of furniture, fixtures and equipment (2,303) (1,640)
Net cash used in investing activities (2,303) (1,640)
Cash flows from financing activities    
Proceeds from revolving facility (Note 11) 10,000 84,175
Repayment of outstanding debt (Note 11) (23,000) (84,175)
Proceeds from issuance of employee stock purchase plan shares 637 719
Debt financing costs   (827)
Payments related to tax withholding for stock-based compensation (1,921) (2,461)
Payment of contingent consideration (1,657) (1,460)
Cash dividends paid to shareholders (4,871) (6,532)
Treasury shares repurchased (3,385) (1,994)
Net cash used in financing activities (24,197) (12,555)
Effect of exchange rate changes on cash 158 (265)
Net decrease in cash, cash equivalents, and restricted cash (13,030) (11,854)
Cash, cash equivalents, and restricted cash, beginning of period 22,809 30,670
Cash, cash equivalents, and restricted cash, end of period 9,779 18,816
Supplemental disclosures of cash flow information:    
Interest 4,416 3,798
Taxes, net of refunds 2,515 6,848
Non-cash investing and financing activities:    
Issuance of treasury stock for vested restricted stock units $ 6,271 $ 7,554