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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 3,268 $ 27,110
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 47,117 56,598
Deferred income taxes (200) 4,885
Stock-based compensation 27,184 17,424
Impairments and disposals of long-lived assets 7,193 805
Provision for bad debts 556 1,016
Amortization of financing fees 808 327
Amortization of debt discount 594 1,444
Deferred rent 383 (170)
Unrealized translation loss (gain) on investment in foreign subsidiaries 94 (1,838)
Changes in fair value of derivatives 0 (4,102)
Change in fair value of contingent consideration, net (686) 0
Interest rate swap settlements 1,323 0
Changes in operating assets and liabilities    
Accounts receivable (8,699) (33,145)
Insurance receivable (3,768) 0
Prepaid expenses 5,849 3,579
Other assets (6,493) (2,097)
Accounts payable 757 6,546
Litigation settlement obligation 3,013 0
Accrued expenses (7,982) 84
Other liabilities (4,635) (4,868)
Net cash provided by operating activities 65,676 73,598
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (1,377) (3,978)
Purchases of intangible assets and capitalized software (13,364) (11,719)
Acquisitions, net of cash acquired (49,210) 0
Proceeds from disposition of property and equipment 121 25
Net cash used in investing activities (63,830) (15,672)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuance of common stock 1,998 2,291
Repurchases of common stock (46,043) 0
Payments of initial public offering issuance costs 0 (225)
Cash paid for tax withholding on vesting of restricted shares (3,597) 0
Payments of long-term debt (5,625) (4,846)
Payment of contingent consideration for acquisition (305) (226)
Payments of finance lease obligations 0 (3)
Net cash used in financing activities (53,572) (3,009)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (1,492) (3,725)
NET CHANGE IN CASH AND CASH EQUIVALENTS (53,218) 51,192
Beginning of period 103,095 47,998
Cash and cash equivalents at end of period 49,877 99,190
Cash paid during the period for    
Interest, net of capitalized amounts of $308 and $245 for the nine months ended September 30, 2023 and 2022, respectively 29,006 24,277
Income taxes 13,219 11,513
Noncash investing activities    
Purchases of property and equipment in accounts payable and accrued expenses 400 8
Noncash purchase price of business combinations $ 4,706 $ 0