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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Net income (loss) for the period $ (96,197) $ (27,571) $ 3,364
Items not involving cash:      
Depreciation of property and equipment 36,431 28,187 17,986
Impairment of property and equipment 4,822 92 201
Amortization of debt discount and issuance costs 3,331 685 300
Amortization of intangible assets 10,829 11,394 10,007
Net amortization contract costs (754) (748) (717)
Accretion of contingent consideration 0 248 383
Deferred income taxes (recovery) (13,040) (6,981) (1,328)
Excess tax benefits on share-based compensation expense 0 (193) (1,554)
Net Right of use operating assets/Operating lease liability (406) (897) (2,204)
Loss on disposal of domain names 5 7 1
Accretion of redeemable preferred units 14,163 3,896 0
Loss on debt extinguishment 14,680 0 0
Write-off of debt discount and issuance cost 277 0 0
Loss (gain) on change in the fair value of forward contracts 1,624 281 606
Amortization of discontinued cash flow hedge (1,144) (761) 0
Stock-based compensation 8,134 7,599 4,592
Remeasurement of contingent consideration 0 (400) 0
Change in non-cash operating working capital:      
Accounts receivable (3,802) (3,825) 1,586
Contract assets 6,070 (6,709) (778)
Inventory 361 (4,007) (787)
Prepaid expenses and deposits (382) 3,981 (3,974)
Deferred costs of fulfillment (394) 2,037 (1,645)
Income taxes recoverable 734 3,355 (1,394)
Accounts payable (5,319) 6,754 4,068
Accrued liabilities 9,044 7,411 4,857
Customer deposits 3,552 (1,191) 645
Deferred revenue 2,952 (2,667) (4,495)
Accreditation fees payable (342) (101) (83)
Net cash provided by (used in) operating activities (4,771) 19,876 29,637
Financing activities:      
Proceeds received on exercise of stock options 0 1,096 4,818
Proceeds from issuance of notes payable 227,258 0 0
Redeemable preferred units redemption (45,718) 87,500 0
Proceeds from redeemable preferred units 35,000 0 0
Deferred notes payable financing costs (6,738) 0 0
Deferred preferred financing costs 145 (1,016) 0
Payment of tax obligations resulting from net exercise of stock options 0 0 (387)
Proceeds received on syndicated revolver 52,382 48,300 69,000
Repayment of syndicated revolver (80,182) (748) (296)
Deferred syndicate revolver issued (1,711) 0 0
Contingent consideration for acquisitions (1,600) (3,125) 0
Net cash (used in) provided by financing activities 178,836 132,007 73,135
Investing activities:      
Additions to property and equipment (92,055) (136,710) (73,175)
Proceeds on disposal of property and equipment 0 0 510
Acquisition of other intangible assets (528) (782) (774)
Investment in securities 0 0 (2,012)
Net cash used in investing activities (92,583) (137,492) (101,978)
Increase (decrease) in cash and cash equivalents, restricted cash, and restricted cash equivalents 81,482 14,391 794
Cash and cash equivalents, restricted cash, and restricted cash equivalents beginning of year 23,496 9,105 8,311
Cash and cash equivalents, restricted cash, and restricted cash equivalents end of year 104,978 23,496 9,105
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above:      
Cash and cash equivalents 92,687 23,496 9,105
Restricted cash included in funds held by trustee 3,639 0
Restricted cash included in secured notes reserve funds 8,652 0
Total Cash and cash equivalents, restricted cash, and restricted cash equivalents end of period 104,978 23,496 9,105
Supplemental cash flow information:      
Interest paid 24,736 10,289 4,485
Income taxes paid, net 4,929 3,883 8,828
Supplementary disclosure of non-cash investing and financing activities:      
Property and equipment acquired during the period not yet paid for 6,948 501 99
Uniregistry [Member]      
Investing activities:      
Acquisition of business 0 0 (2,499)
Simply Bits LLC [Member]      
Investing activities:      
Acquisition of business $ 0 $ 0 $ (24,028)