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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 591 $ 6,236
Adjustments to reconcile net income to net cash provided by operations    
Depreciation and amortization 15,122 20,156
Deferred income taxes 209 3,412
Stock-based compensation 8,043 5,108
Impairments of long-lived assets 106 0
Provision for bad debts 244 308
Amortization of financing fees 269 109
Amortization of debt discount 194 478
Deferred rent 39 0
Noncash impact of lease accounting under ASC 842 0 (55)
Unrealized translation (gain) loss on investment in foreign subsidiaries 135 (393)
Changes in fair value of derivatives 0 (2,464)
Interest rate swap settlements 23 0
Gain on disposition of property and equipment 0 (4)
Changes in operating assets and liabilities    
Accounts receivable (3,414) (20,006)
Prepaid expenses 2,844 (869)
Other assets (2,534) (1,736)
Accounts payable 3,716 10,255
Litigation settlement obligation 315 0
Accrued expenses (12,256) (12,283)
Other liabilities (2,364) (4,807)
Net cash provided by operating activities 11,282 3,445
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (140) (1,495)
Purchases of intangible assets and capitalized software (4,120) (3,742)
Acquisitions, net of cash acquired (48,802) 0
Proceeds from disposition of property and equipment 7 4
Net cash used in investing activities (53,055) (5,233)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuance of common stock 0 70
Repurchases of common stock (7,711) 0
Payments of IPO issuance costs 0 (225)
Cash paid for tax withholding on RSA vestings (487) 0
Payments of long-term debt (1,875) (1,615)
Payment of contingent consideration for acquisition (305) 0
Payments of finance lease obligations 0 (1)
Net cash used in financing activities (10,378) (1,771)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 20 (92)
NET CHANGE IN CASH AND CASH EQUIVALENTS (52,131) (3,651)
Beginning of period 103,095 47,998
Cash and cash equivalents at end of period 50,964 44,347
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest, net of capitalized amounts of $73 and $90 for the three months ended March 31, 2022 and 2023, respectively 11,602 8,296
Income taxes 2,978 4,222
Noncash investing activities    
Purchases of property and equipment in accounts payable and accrued expenses 69 245
Noncash purchase price of business combinations $ 4,821 $ 0