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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss $ (13,126) $ (11,773)
Adjustments to reconcile loss to net cash provided by operations:    
Depreciation and amortization 26,439 22,142
Amortization of operating lease assets 1,560 1,386
Amortization of debt financing costs and discount 1,253 726
Non-cash interest expense 3,802 298
Net accretion of discounts and amortization of premiums on available-for-sale securities (398) (377)
Provision for expected losses 1,122 46
Provision for deferred income taxes 652 884
Loss on extinguishment of debt 71 0
Net realized gains on sales of available-for-sale securities (2,949) (2,609)
Share-based compensation 7,739 6,444
Changes in operating assets and liabilities:    
Accounts receivable 3,193 (3,998)
Inventory 750 (41)
Prepaid expenses and other assets (1,165) (1,886)
Accounts payable 335 (1,206)
Accrued expenses and other long-term obligations (3,650) (1,103)
Lease liabilities (1,661) (1,555)
Deferred revenue (1,749) 2,010
Net cash provided by operating activities 22,218 9,388
Cash flows from investing activities:    
Business combination consideration, net of cash acquired (37,500) (7,900)
Acquisition of intangible assets (15,666) (5,356)
Purchases of property and equipment (787) (692)
Software capitalization costs (13,733) (10,187)
Purchases of available-for-sale securities (44,614) (15,643)
Proceeds from sales and maturities of available-for-sale securities 25,623 20,522
Net cash used in investing activities (86,677) (19,256)
Cash flows from financing activities:    
Payments of finance lease principal (19) 0
Proceeds from notes payable, net of issuance costs 57,975 4,995
Payments of notes payable (7,200) (420)
Debt extinguishment costs (100) 0
Net proceeds from issuance of common stock 1,336 1,370
Capital raise fees 0 (132)
Payments made on amounts due for the acquisition of intangibles (2,647) (1,513)
Net change in client fund obligations 34,105 (26,342)
Net cash provided by (used in) financing activities 83,450 (22,042)
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents 18,991 (31,910)
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period 145,712 177,622
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period 164,703 145,712
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to the Consolidated Balance Sheets    
Cash and cash equivalents 25,244 21,425
Restricted cash and restricted cash equivalents included in funds held for clients 139,459 124,287
Total cash, cash equivalents, restricted cash, and restricted cash equivalents 164,703 145,712
Supplemental information:    
Cash paid for interest 3,294 0
Cash paid for income taxes, net of refunds 0 18
Non-cash investing and financing activities:    
Acquisition of intangible assets 488 5,338
Notes payable issued for acquisitions 5,524 3,107
Shares issued for acquisitions 956 $ 9,125
Stock issued for debt payment $ 2,566