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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 11,255 $ 2,883
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 989 1,026
Amortization of operating lease right-of-use assets 310 256
Provision for expected credit losses 89 38
Deferred income tax expense 1,349 111
Gain on sale of business (12,076) 0
Share-based compensation expense 256 134
Changes in operating assets and liabilities:    
Accounts receivable, net (9,766) 1,205
Prepaid expenses and other current assets (2,620) 3,118
Change in deferred taxes due to deconsolidation 2,307 0
Accounts payable 1,992 (803)
Operating lease liabilities (310) (256)
Accrued expenses, other current liabilities, due to affiliates and customer incentives and deposits 6,395 (968)
Net cash provided by operating activities 170 6,744
Cash flows from investing activities    
Purchases of property and equipment (781) (717)
Cash transferred in the sale of a business (5,637) 0
Proceeds from the sale of joint ventures 17,380 0
Net cash provided by (used in) investing activities 10,962 (717)
Cash flows from financing activities    
Borrowings under line of credit 69,117 47,340
Repayments under line of credit (64,044) (50,003)
Proceeds from term debt 26 0
Net cash settlement of stock options 0 0
Repurchases of common stock (1,800) 0
Payments of notes to seller (1,843) 0
Payments to acquire noncontrolling interests (250) (473)
Dividend on noncontrolling interest (1,315) (1,196)
Net cash used in financing activities (109) (4,332)
Effect of foreign exchange rate changes on cash (48) (124)
Net change in cash, cash equivalents and restricted cash 10,976 1,571
Cash, cash equivalents at beginning of period 10,719 9,345
Cash, cash equivalents at end of period 21,695 10,916
Supplemental disclosure of cash flows information:    
Cash paid for interest 1,030 913
Cash paid for income taxes $ 277 $ 1,748