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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities:    
Net income $ 247 $ 11,189
Adjustments to net income:    
Provision for credit losses 181 1,202
Deferred taxes (1,533) (724)
Stock-based compensation 1,124 3,420
Depreciation 1,095 1,269
Loss on extinguishment of debt 0 125
Amortization of acquisition-related intangibles 8,029 8,430
Amortization of software development costs 3,312 1,259
Amortization of deferred finance costs 180 152
Gain on contingent consideration 0 (1,580)
Non-cash operating lease costs 1,211 940
Loss on disposal of PP&E 117 0
Changes in operating assets and liabilities:    
Accounts receivable (3,806) (9,934)
Financing receivables 940 3,376
Inventories (178) (273)
Prepaid expenses and other (2,017) (4,547)
Accounts payable 7,448 (469)
Deferred revenue (1,705) 2,625
Operating lease liabilities (1,067) (940)
Other liabilities (2,278) 1,126
Prepaid income taxes (1,110) 2,457
Net cash provided by operating activities 10,190 19,103
Investing Activities:    
Purchase of business, net of cash acquired 0 (43,814)
Investment in software development (12,143) (8,739)
Purchase of property and equipment (72) (88)
Net cash used in investing activities (12,215) (52,641)
Financing Activities:    
Proceeds from long-term debt 0 575
Payments of long-term debt principal (1,750) (1,813)
Proceeds from revolving line of credit 11,602 48,000
Payments of revolving line of credit (5,000) (5,300)
Treasury stock purchases (2,532) (4,248)
Net cash provided by financing activities 2,320 37,214
Increase in cash and cash equivalents 295 3,676
Cash and cash equivalents at beginning of period 6,951 11,431
Cash and cash equivalents at end of period 7,246 15,107
Supplemental disclosure of cash flow information:    
Cash paid for interest 3,413 1,996
Cash paid for income taxes, net of refund $ 1,783 $ 376