XML 77 R8.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income (loss) $ 6,727 $ (203)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation expense 2,446 2,494
Amortization of intangible assets 967 2,230
Deferred tax expense (benefit) from stock issuances (86) (372)
Amortization of deferred financing costs 167 167
Stock-based compensation 6,180 5,690
Change in fair value of contingent consideration 29 (2,323)
Provisions for credit losses 129 1,098
Gain on the sale on business (720)  
Deferred tax (benefit) provision 871 (136)
Changes in operating assets and liabilities:    
Accounts receivable and contract assets (1,612) 4,433
Prepaid expenses and other assets (566) (287)
Accounts payable (295) (1,459)
Contract liabilities 683 545
Accrued expenses and other liabilities 9,030 1,435
Net cash provided by operating activities 23,950 13,312
Cash flows from investing activities    
Acquisition of Martino & Partners, net of cash acquired (Note 4) (1,636)  
Purchase of furniture, fixtures and equipment (3,269) (2,303)
Net working capital settlement from divestiture (Note 2) 720  
Net cash used in investing activities (4,185) (2,303)
Cash flows from financing activities    
Proceeds from revolving facility (Note 10) 5,000 10,000
Repayment of outstanding debt (Note 10) (5,000) (23,000)
Additional proceeds from the sale of the Automation business (Note 2) 1,954  
Proceeds from issuance of employee stock purchase plan shares 473 637
Payments related to tax withholding for stock-based compensation (2,784) (1,921)
Payment of contingent consideration (550) (1,657)
Cash dividends paid to shareholders (6,969) (4,871)
Treasury shares repurchased (7,279) (3,385)
Net cash used in financing activities (15,155) (24,197)
Effect of exchange rate changes on cash 1,060 158
Net decrease in cash, cash equivalents, and restricted cash 5,670 (13,030)
Cash, cash equivalents, and restricted cash, beginning of period 23,158 22,809
Cash, cash equivalents, and restricted cash, end of period 28,828 9,779
Supplemental disclosures of cash flow information:    
Interest 2,933 4,416
Taxes, net of refunds 904 2,515
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for lease liabilities (Note 11) 7,160 229
Issuance of treasury stock for vested restricted stock units $ 5,682 $ 6,271