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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net loss $ (34,091) $ (29,418)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 37,408 33,816
Amortization of right-of-use asset 8,423 7,667
Stock-based compensation expense 34,866 35,609
Fair value changes in financial instruments 4,851 1,814
Deferred income taxes 4,931 2,842
Other operating activities, net 315 2,403
Changes in operating assets and liabilities,net of acquisitions:    
Accounts receivable and contract assets (45,898) (9,538)
Accounts payable and other accrued liabilities (2,192) (772)
Accrued payroll and benefits (4,936) 6,092
Payment of contingent consideration   (611)
Change in operating leases (9,233) (7,525)
Other assets (4,165) (907)
Net cash (used in) provided by operating activities (9,721) 41,472
Investing activities:    
Proceeds from corporate owned and property insurance 182 311
Purchases of property and equipment (19,086) (24,969)
Proceeds from the sale of property and equipment 401  
Proprietary software development and other software costs (2,052) (2,763)
Purchase price true ups (3,413) (1,027)
Minority investments (210) (2,347)
Cash paid for acquisitions, net of cash acquired (113,012) (66,187)
Net cash used in investing activities (137,190) (96,982)
Financing activities:    
Proceeds from line of credit 326,468  
Repayment of the line of credit (278,335)  
Proceeds from the aircraft loan   10,935
Repayment of aircraft loan (796) (335)
Proceeds from term loan 50,000  
Repayment of term loan (11,094) (8,785)
Payment of contingent consideration and other purchase price true ups (363) (1,535)
Repayment of finance leases (4,384) (3,378)
Payments of deferred financing costs (348)  
Proceeds from issuance of common stock for exercised stock options 1,973 4,529
Proceeds from issuance of common stock in follow-on offering 121,776  
Dividend payment to the series A-2 stockholders (8,314) (12,300)
Repayment to the series A-2 stockholders (60,000)  
Net cash provided by (used in) financing activities 136,583 (10,869)
Change in cash, cash equivalents and restricted cash (10,328) (66,379)
Foreign exchange impact on cash balance 133 (265)
Cash, cash equivalents and restricted cash:    
Beginning of year 23,240 89,828
End of period 13,045 23,184
Supplemental disclosures of cash flows information:    
Cash paid for interest 10,699 4,838
Cash paid for income tax 2,713 1,374
Supplemental disclosures of non-cash investing and financing activities:    
Accrued purchases of property and equipment 1,810 1,626
Property and equipment purchased under finance leases 5,806 5,728
Common stock issued to acquire new businesses 10,712 2,598
Acquisitions unpaid contingent consideration 34,348 6,369
Acquisitions contingent consideration paid in common stock $ 1,087 $ 1,000