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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income $ 6,980 $ 7,441
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,190 2,345
Provision for bad debt 317 367
Stock-based compensation 6,721 6,224
Amortization of debt issuance costs 4 4
Deferred tax provision (1,236) (80)
Changes in operating assets and liabilities:    
Accounts receivable 1,217 2,600
Prepaid expenses and other current assets (17) (112)
Other assets 15 (94)
Accounts payable (187) (843)
Income taxes payable 4,162 1,153
Accrued expenses and other current liabilities (346) (175)
Operating lease right-of-use assets and liabilities, net (182) (161)
Accrued compensation expenses (637) (763)
Contract liabilities 700 913
Other liabilities 1,140  
Net cash provided by operating activities 21,841 18,819
Investing activities:    
Purchases of property and equipment, and other capitalized assets (3,338) (3,379)
Purchases of investments and maturities of investments (71) 500
Acquisitions of businesses, net (5,015)  
Net cash used in investing activities (8,424) (2,879)
Financing activities:    
Tax withholdings related to net share settlements (68) (868)
Purchase of treasury shares and related costs (14,824) (4,725)
Proceeds from exercise of stock options   23
Term loan principal payment (625) (625)
Net cash used in financing activities (15,517) (6,195)
Effect of exchange rate changes on cash 3 (13)
Net (decrease) increase in cash (2,097) 9,732
Cash at beginning of period 52,487 34,673
Cash at end of period 50,390 44,405
Supplemental disclosure of cash flow information:    
Cash paid for taxes, net $ 92 $ 1,407