XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 13,946 $ 1,275
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization of property and equipment 12,302 9,938
Amortization of route and customer acquisition costs and location contracts acquired 12,268 11,130
Amortization of debt issuance costs 1,009 936
Loss (gain) on change in fair value of contingent earnout shares 5,979 (10,232)
Loss (gain) on change in fair value of warrants 0 (14,283)
Stock-based compensation 3,741 2,387
Loss on disposal of property and equipment 372 93
Net loss on write-off of route and customer acquisition costs and route and customer acquisition costs payable 162 611
Remeasurement of contingent consideration 1,766 (2,432)
Payments on consideration payable (293) (1,548)
Accretion of interest on route and customer acquisition costs payable, contingent consideration, and contingent stock consideration 1,252 1,078
Deferred income taxes 3,930 (5,195)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (3,111) 1,105
Income taxes receivable 3,341 0
Route and customer acquisition costs (1,393) (585)
Route and customer acquisition costs payable (154) (69)
Accounts payable and accrued expenses (2,509) (10,927)
Accrued compensation and related expenses 1,475 (392)
Other assets 75 (174)
Net cash provided by (used in) operating activities 54,158 (17,284)
Cash flows from investing activities:    
Purchases of property and equipment (10,938) (4,123)
Proceeds from the sale of property and equipment 414 121
Business and asset acquisitions, net of cash acquired (3,234) 0
Net cash used in investing activities (13,758) (4,002)
Cash flows from financing activities:    
Payments on term loan (6,000) (6,000)
Proceeds from delayed draw term loans 0 65,000
Payments on delayed draw term loans (3,125) (2,313)
Proceeds from line of credit 42,000 49,000
Payments on line of credit (29,000) (57,000)
Payments for debt issuance costs 0 (325)
Proceeds from exercise of stock options and warrants 685 359
Payments on consideration payable (903) (4,004)
Net cash provided by financing activities 3,657 44,717
Net increase in cash and cash equivalents 44,057 23,431
Cash and cash equivalents:    
Beginning of period 134,451 125,403
End of period 178,508 148,834
Supplemental disclosures of cash flow information:    
Interest, net of amount of capitalized 6,049 6,678
Income taxes 651 0
Supplemental schedules of noncash investing and financing activities:    
Purchases of property and equipment in accounts payable and accrued liabilities 2,608 10,586
Conversion of contingent earnout shares 0 19,160
Acquisition of businesses and assets:    
Total identifiable net assets acquired 3,334 0
Less consideration payable (100) 0
Cash purchase price $ 3,234 $ 0