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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 8,744 $ 4,218
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 1,417 1,652
Stock-based compensation 1,187 1,456
Deferred income tax (111) 701
Loss on long-lived assets 10 38
Gain on equity investment in WeGo 0 (196)
Net foreign currency effect 53 34
Reversal of loss on accounts receivable, refund reserve and other (944) (3,402)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 3,317 2,540
Prepaid income taxes 1,128 354
Prepaid expenses and other 2,232 41
Accounts payable (1,704) 401
Merchant payables (8,757) (28,894)
Accrued expenses and other 574 153
Income tax payable 293 (185)
Other liabilities, net 1,854 240
Net cash provided by (used in) operating activities 9,293 (20,849)
Cash flows from investing activities:    
Proceeds from repayment of note receivable 113 0
Purchases of intangible assets 0 (1,049)
Proceeds from sale of equity investment in WeGo 0 196
Purchases of property and equipment (217) (236)
Net cash used in investing activities (104) (1,089)
Cash flows from financing activities:    
Repurchase of common stock (11,766) (1,170)
Proceeds from short swing settlement 0 46
Exercise of stock options, net of taxes paid for net share settlement (299) 1,885
Net cash provided by (used in) financing activities (12,065) 761
Effect of exchange rate changes on cash, cash equivalents and restricted cash 80 (3,267)
Net decrease in cash, cash equivalents and restricted cash (2,796) (24,444)
Cash, cash equivalents and restricted cash at beginning of period 19,378 44,989
Cash, cash equivalents and restricted cash at end of period 16,582 20,545
Supplemental disclosure of cash flow information:    
Cash paid (refund) for income taxes, net (228) 1,234
Right-of-use assets obtained in exchange for lease obligations—operating leases 512 0
Cash paid for amounts included in the measurement of lease liabilities 2,499 2,405
Non-cash consideration for purchase of intangible asset $ 0 $ 1,150