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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net income from discontinued operations $ 1,673 $ 34,620
Less: Income from discontinued operations, net of income taxes 1,921 31,068
Income (loss) from continuing operations (248) 3,552
Adjustments to reconcile income (loss) from continuing operations to net cash from operating activities:    
Depreciation and amortization of acquired intangible assets 9,926 9,074
Stock-based compensation 7,802 5,380
Change in the fair value of acquisition-related contingent consideration 0 1,700
Reduction of right-of-use lease assets 399 353
Deferred income taxes 194 (652)
Amortization of debt discount and issuance costs 153 0
Accretion of lease liabilities 479 514
Other non-cash items 1,891 1,101
Changes in operating assets and liabilities, net of acquisitions and disposals:    
Accounts receivable, net (1,543) 5,489
Commissions and advisory fees receivable (436) 2,183
Prepaid expenses and other current assets (4,381) (4,280)
Other long-term assets (3,337) (3,354)
Accounts payable (3,212) (2,302)
Commissions and advisory fees payable (301) (2,553)
Lease liabilities (1,307) (1,229)
Deferred revenue 1,914 1,892
Accrued expenses and other current and long-term liabilities (7,005) (9,815)
Net cash provided by operating activities from continuing operations 988 7,053
Investing activities:    
Purchases of property, equipment, and software (2,543) (3,846)
Asset acquisitions (2,018) (751)
Net cash used by investing activities from continuing operations (4,561) (4,597)
Financing activities:    
Proceeds from credit facilities, net of debt discount and issuance costs 161,543 0
Payments on credit facilities 0 (453)
Acquisition-related fixed and contingent consideration payments (223) 0
Stock repurchases (276,953) (30,537)
Proceeds from stock option exercises 1,135 96
Tax payments from shares withheld for equity awards (3,114) (1,569)
Net cash used by financing activities from continuing operations (117,612) (32,463)
Net cash used by continuing operations (121,185) (30,007)
Net cash provided by operating activities from discontinued operations 0 10,788
Net cash provided (used) by investing activities from discontinued operations 2,212 (885)
Net cash provided by financing activities from discontinued operations 0 0
Net cash provided by discontinued operations 2,212 9,903
Net decrease in cash and cash equivalents (118,973) (20,104)
Cash and cash equivalents, beginning of period 263,928 100,629
Cash and cash equivalents, end of period 144,955 80,525
Supplemental cash flow information:    
Cash paid for income taxes 0 850
Cash paid for interest $ 108 $ 7,107