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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income (loss) $ 1,699 $ 1,887
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 6,471 6,395
Deferred income taxes (205) (359)
Non-cash interest 133 280
Amortization of syndication contracts 120 116
Payments on syndication contracts (120) (118)
Non-cash stock-based compensation 4,053 2,573
(Gain) loss on marketable securities 32  
(Gain) loss on disposal of property and equipment 68 (151)
(Gain) loss on debt extinguishment 1,556  
Change in fair value of contingent consideration (4,065) 5,100
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable 33,157 29,380
(Increase) in prepaid expenses and other current assets, operating leases right of use asset and other assets 948 (2,405)
Increase (decrease) in accounts payable, accrued expenses and other liabilities (7,152) 10,521
Net cash provided by operating activities 36,695 53,219
Cash flows from investing activities:    
Proceeds from sale of property and equipment and intangibles   164
Purchases of property and equipment (6,750) (1,547)
Purchases of marketable securities (9,397) (85,517)
Proceeds from sale of marketable securities 15,704  
Purchases of investments (120)  
Net cash used in investing activities (563) (86,900)
Cash flows from financing activities:    
Proceeds from stock option exercises 313 218
Tax payments related to shares withheld for share-based compensation plans (80) (257)
Payments on debt (211,748) (750)
Dividends paid (4,932) (2,167)
Repurchase of Class A common stock   (7,142)
Payment of contingent consideration   (14,730)
Pricipal payments under finance lease obligation (38) (10)
Proceeds from borrowings on debt 212,405  
Payments for debt issuance costs (1,285)  
Net cash used in financing activities (5,365) (24,838)
Effect of exchange rates on cash, cash equivalents and restricted cash 1 (1)
Net increase (decrease) in cash, cash equivalents and restricted cash 30,768 (58,520)
Cash, cash equivalents and restricted cash:    
Beginning 111,444 185,843
Ending 142,212 127,323
Cash payments for:    
Interest 3,895 1,556
Income taxes 72 1,211
Supplemental disclosures of non-cash investing and financing activities:    
Capital expenditures financed through accounts payable, accrued expenses and other liabilities $ 3,910 $ 922