XML 19 R7.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 1,219 $ 1,357
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,472 324
Bad debt expense 260 197
Deferred income taxes (299) (63)
Change in fair value of interest rate swaps (214) 0
Stock-based compensation expense 691 372
Amortization of debt issuance costs 4 0
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable (1,587) (390)
Decrease (increase) in other assets (256) (245)
Increase (decrease) in accounts payable (89) (111)
Increase (decrease) in accrued expenses 488 (194)
Increase (decrease) in deferred revenue 314 397
Net cash provided by operating activities 2,003 1,644
Cash flows from investing activities:    
Capitalized software (167) 0
Purchase of fixed assets (11) (38)
Purchase of acquired business, net of cash received 350 0
Net cash provided by (used in) investing activities 172 (38)
Cash flows from financing activities:    
Exercise of stock options 0 58
Payment for stock repurchase and retirement 0 (4,041)
Payment of note payable (22,000) 0
Proceeds from issuance of term loan 19,988 0
Payment for capitalized debt issuance costs (88) 0
Net cash used in financing activities (2,100) (3,983)
Net change in cash and cash equivalents 75 (2,377)
Cash and cash equivalents - beginning 4,832 23,852
Currency translation adjustment 54 (17)
Cash and cash equivalents - ending 4,961 21,458
Supplemental disclosures:    
Cash paid for income taxes 158 643
Cash paid for interest $ 887 $ 0