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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Statement of Cash Flows [Abstract]    
Net income $ 4,779 $ 4,918
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,183 4,550
Unrealized gain on equity investment (1,373) 0
Stock-based compensation 5,136 3,165
Deferred income taxes (1,645) 280
Accretion of discount on marketable securities 23 (13)
Non-cash operating lease expense 1,272 433
Other 54 2
Changes in operating assets and liabilities:    
Accounts receivable 68,557 46,440
Prepaid expenses and other current assets 2,054 (1,241)
Accounts payable (58,588) (40,912)
Accrued expenses (6,822) (4,284)
Operating lease liabilities (1,177) (522)
Other liabilities, non-current (139) (129)
Net cash provided by operating activities 19,314 12,687
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (148) (262)
Capitalized software development costs (4,235) (3,018)
Purchases of marketable securities (39,422) (23,168)
Proceeds from maturities of marketable securities 16,000 9,600
Net cash used in investing activities (27,805) (16,848)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of stock options 481 451
Principal payments on finance lease obligations (28) 0
Payments for offering costs 0 (805)
Payments to acquire treasury stock 0 (27)
Net cash provided by (used in) financing activities 453 (381)
NET DECREASE IN CASH AND CASH EQUIVALENTS (8,038) (4,542)
CASH AND CASH EQUIVALENTS - Beginning of period 82,505 81,188
CASH AND CASH EQUIVALENTS - End of period 74,467 76,646
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Income taxes paid 323 192
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:    
Stock-based compensation capitalized as internal use software costs 333 153
Property and equipment included in accounts payable and accrued expenses 334 946
Capitalized software costs included in accounts payable and accrued expenses 516 270
Operating lease right-of-use assets obtained in exchange for new lease obligations $ 4,632 $ 3,180