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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
1 Months Ended 11 Months Ended 12 Months Ended
Jan. 26, 2022
Dec. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Jan. 27, 2022
Cash flows from Operating Activities:            
Net income (loss) $ (37,061) $ (442,079)   $ 32,996    
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:            
Depreciation and amortization 1,000 118,652   13,885    
Stock-based compensation 23,705 106,943   413    
Impairment of goodwill 0 366,309   0    
Amortization of debt issuance costs 0 4,836   2,261    
Noncash lease expense 115 1,532   0    
Change in fair value of contingent consideration and CEO equity profit interest (9) 0   7,054    
Change in fair value of warrants 0 3,751   0    
Deferred tax benefits (816) (107,798)   (981)    
Other 0 661   0    
Changes in operating assets and liabilities            
Accounts receivable 11,118 4,602   (19,064)    
Due from related party 0 0   0    
Prepaids and other assets 1,069 (3,348)   (4,968)    
Accounts payable (67,600) 2,121   20,756    
Accrued expenses and other liabilities 57,488 (13,478)   12,113    
Protected.net incentive plan liability 0 (20,000)   0    
Deferred revenue 311 9,008   82    
Other long-term liabilities 77 (28,395)   (3,842)    
Net cash provided by (used in) operating activities (10,603) 3,317   60,705    
Cash flows from Investing Activities:            
Purchases of property and equipment 0 (3,546)   (49)    
Capitalized software development costs (441) (6,389)   (6,486)    
Acquisition of businesses, net of cash acquired 0 (444,074)   0    
Net cash (used in) investing activities (441) (454,009)   (6,535)    
Cash flows from Financing Activities:            
Proceeds from term loan and line of credit 0 450,000   0    
Repayment of term loan 0 (187,488)   (11,636)    
Member capital contributions 0 0   227    
Payments for financing costs 0 (24,845)   (382)    
Payments for earnouts 0 (1,715)   0    
Taxes paid related to net settlement of restricted stock awards 0 (2,090)   0    
Redemptions of Class A common stock 0 (510,469)   0    
Proceeds from warrant exercises 0 5,027 $ 5,027 0    
Purchases of treasury stock 0 1,122   0    
Cash received from the Backstop 0 246,484   0    
Payments on contingent consideration from purchase of companies 0 0   (6,715)    
Related party loan 0 0        
Related party loan       (1,500)    
Distributions to members 0 (1,511)   (14,579)    
Net cash (used in) financing activities 0 (27,729)   (34,585)    
Effect of exchange rate changes in cash, cash equivalent and restricted cash (19) (57)   41    
Net increase (decrease) in cash, cash equivalents and restricted cash (11,063) (478,478)   19,626    
Cash and cash equivalents and restricted cash, beginning of the period 48,639 37,576 48,639 29,013    
Cash and cash equivalents and restricted cash, end of the period 37,576 39,075 39,075 48,639 $ 29,013  
Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets:            
Cash and cash equivalents 36,833 24,606 24,606 47,896    
Restricted cash 743 14,469 14,469 743    
Total cash, cash equivalents and restricted cash 37,576 39,075 39,075 48,639 29,013 $ 517,553
Supplemental cash flow information:            
Cash paid for income taxes 241 8,298   2,750    
Cash paid for interest 932 25,993   14,740    
Cash paid for operating lease liabilities 175 2,199   0    
Operating lease assets obtained in exchange for operating lease liabilities 7,987 2,064   0    
Tenant improvements paid by lessor 0 636   0    
Stock-based compensation included in capitalized software development costs $ 0 $ 817   0    
Equity issuance to settle intercompany loan     0 941 0  
Deferred consideration for acquisition     $ 6,850 $ 0 $ 0