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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net (loss) income $ (4,869) $ 643
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Equity in net income of limited liability investments (287) (45)
Depreciation and amortization expense 4,672 3,138
Stock-based compensation expense, net of forfeitures 628 2,407
Net realized gains (238) (238)
Loss on change in fair value of equity investments 48 196
Gain on change in fair value of limited liability investments, at fair value (173) (529)
Loss on change in fair value of debt 3,198 1,757
(Gain) loss on change in fair value of derivatives (276) 73
Loss on change in fair value of contingent consideration 1,502 0
Deferred income taxes (693) (1,052)
Amortization of fixed maturities premiums and discounts 141 88
Amortization of notes payable premium, discounts and debt issue costs (496) (430)
Gain on extinguishment of debt 0 (2,494)
Changes in operating assets and liabilities:    
Service fee receivable, net (1,828) (1,567)
Other receivables, net 1,378 2,653
Deferred contract costs (1,687) (271)
Other assets 261 (10,786)
Deferred service fees 2,104 501
Other, net 2,861 (5,552)
Net cash provided by (used in) operating activities 6,246 (11,508)
Investing activities:    
Proceeds from sales and maturities of fixed maturities 4,906 2,894
Proceeds from sales of equity investments 0 23
Purchases of fixed maturities (8,111) (3,952)
Net proceeds from limited liability investments 973 168
Net proceeds from limited liability investments, at fair value 211 13,188
Net proceeds from investments in private companies 62 89
Net proceeds from other investments 34 6
Acquisition of business, net of cash acquired (83) (50)
Net purchases of property and equipment (177) (506)
Net cash (used in) provided by investing activities (2,185) 11,860
Financing activities:    
Distributions to noncontrolling interest holders (697) (170)
Taxes paid related to net share settlements of restricted stock awards 0 (323)
Principal payments on bank loans (3,952) (2,161)
Principal proceeds from notes payable, net of debt issuance costs of $1,685 in 2021 0 13,270
Principal payments on notes payable (3,115) (11,280)
Net cash used in financing activities (7,764) (664)
Net decrease in cash and cash equivalents and restricted cash (3,703) (312)
Cash and cash equivalents and restricted cash at beginning of period 29,899 44,945
Cash and cash equivalents and restricted cash at end of period $ 26,196 $ 44,633