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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income $ 13,762 $ 12,792
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,916 3,644
Provision for bad debt 303 237
Stock-based compensation 11,044 9,154
Amortization of debt issuance costs 7 7
Deferred tax provision 158 (412)
Changes in operating assets and liabilities:    
Accounts receivable 2,419 5,162
Prepaid expenses and other current assets (3,094) 152
Other assets 30 (58)
Accounts payable (412) 139
Income taxes payable 953 550
Accrued expenses and other current liabilities (190) (63)
Operating lease right-of-use assets and liabilities, net (263) (237)
Accrued compensation expenses (516) (452)
Contract liabilities 2,366 (623)
Other liabilities 1,865 1
Net cash provided by operating activities 33,348 29,993
Investing activities:    
Purchases of property and equipment, and other capitalized assets (4,943) (4,771)
Purchases of investments and maturities of investments (96) 500
Acquisitions of businesses, net (5,015)  
Net cash used in investing activities (10,054) (4,271)
Financing activities:    
Tax withholdings related to net share settlements (3,146) (2,619)
Purchase of treasury shares and related costs (14,824) (4,725)
Proceeds from exercise of stock options 460 119
Term loan principal payment (938) (938)
Debt issuance costs (11)  
Net cash used in financing activities (18,459) (8,163)
Effect of exchange rate changes on cash 86 (92)
Net increase in cash 4,921 17,467
Cash at beginning of period 52,487 34,673
Cash at end of period 57,408 52,140
Supplemental disclosure of cash flow information:    
Cash paid for taxes, net $ 4,906 $ 3,512