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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (7,548) $ (5,722)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation and amortization 12,927 6,058
Amortization of debt financing costs and discount 1,451 0
Release of contingent consideration (489) 0
Provision for doubtful accounts 504 495
Provision for deferred income taxes (7,083) 0
Gain on extinguishment of debt (479) 0
Share-based compensation 1,687 593
Loss on disposals of fixed assets 53 0
Changes in operating assets and liabilities:    
Accounts receivable (1,719) (4,096)
Inventory (2,948) (17)
Prepaid expenses and other assets (1,437) (1,325)
Accounts payable 1,595 (254)
Accrued expenses and other long-term obligations (2,410) 1,589
Deferred revenue (1,233) 2,643
Net cash used in operating activities (7,129) (36)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions net of cash acquired (66,984) (45,390)
Purchases of property and equipment (1,898) (1,400)
Software capitalization costs (3,896) (1,658)
Restricted cash 0 200
Net change in funds held for clients (34,450) (10,244)
Net cash used in investing activities (107,228) (58,492)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from notes payable 36,750 45,777
Payments on notes payable (7,105) (8,973)
Proceeds from revolving line of credit 4,540 0
Payments on revolving line of credit (4,540) 0
Debt financing fees (1,693) (1,433)
Payments on capital leases (135) (131)
Net proceeds from issuance of common stock 39,449 28,002
Net change in client fund obligations 34,522 10,299
Net cash provided by financing activities 101,788 73,541
Effect of foreign exchange rates 221 12
Net increase (decrease) in cash and cash equivalents (12,348) 15,025
Cash and cash equivalents at beginning of period 27,792 12,767
Cash and cash equivalents at end of period 15,444 27,792
Cash paid for:    
Interest 7,819 3,466
Income taxes 91 23
Non-cash Investing and Financing Activities:    
Subordinated notes payable –acquisitions 7,592 9,193
Equity issued in connection with acquisitions $ 4,493 $ 22,353