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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 30,493 $ 19,334
Adjustments to reconcile net income to net cash (used in) provided by operating activities    
Depreciation and amortization of intangible assets and loan fees 15,834 19,769
Gain on disposition of property, plant, and equipment (219) 0
Stock based compensation expense 5,401 5,208
Impairment and other asset charges 2,620 0
Other non-cash activity 2 (135)
Changes in assets and liabilities, net of business acquisition    
Accounts receivable (72,367) (74,468)
Inventories (5,797) 2,901
Other assets 1,568 (481)
Accounts payable 2,564 40,320
Accrued wages payable (2,559) 252
Other accrued expenses (4,806) 1,703
Net cash (used in) provided by operating activities (27,266) 14,403
Cash flows from investing activities    
Proceeds from disposition of property, plant, and equipment 726 0
Purchase of property, plant, and equipment (3,221) (4,128)
Proceeds from sale of business 2,655 0
Business acquisitions (net of cash acquired) 0 (27,634)
Net cash provided by (used in) investing activities 160 (31,762)
Cash flows from financing activities    
Proceeds from issuance of long-term debt 50,000 35,000
Principal payments on long-term debt (53,800) (38,800)
Principal payments on finance lease obligations (672) (801)
Tax withholding payments on Restricted Stock Units (2,843) (969)
Exercise of options to purchase Class A common stock 2,304 0
Net cash used in financing activities (5,011) (5,570)
Net change in cash and cash equivalents (32,117) (22,929)
Effect of exchange rate changes on cash and cash equivalents (122) 101
Cash and cash equivalents, beginning of period 116,369 101,265
Cash and cash equivalents, end of period 84,130 78,437
Supplemental cash flow information    
Interest paid, net 22,648 16,657
Net change in property, plant, and equipment acquired through accounts payable (116) 52
Finance lease additions 25 0
Income taxes paid, net of refunds $ 950 $ 326