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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income (loss) $ 31,559 $ (410) $ (36,764)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization of property and equipment 24,636 20,969 26,398
Amortization of route and customer acquisition costs and location contracts acquired 22,040 22,608 17,975
Amortization of debt issuance costs 2,099 2,064 655
Contributed capital, professional service fees paid by shareholder 0 0 2,891
Stock-based compensation 6,403 5,538 2,236
Loss (gain) on change in fair value of contingent earnout shares 9,762 (8,484) 9,837
(Gain) loss on change in fair value of warrants 0 (12,574) 21,063
(Gain) loss on disposal of property and equipment (63) 47 100
Loss on write-off of route and customer acquisition costs and route and customer acquisition costs payable 711 910 342
Loss on debt extinguishment 1,152 0 1,141
Remeasurement of contingent consideration 4,347 (584) 6,723
Payments on consideration payable (2,566) (1,766) 0
Accretion of interest on route and customer acquisition costs payable, contingent consideration, and contingent stock consideration 2,617 2,030 1,623
Payments for debt issuance costs (156) 0 0
Deferred income taxes 6,108 (16,836) 4,081
Changes in operating assets and liabilities, net of acquisition of businesses:      
Prepaid expenses and other current assets (4,982) (2,904) (3,507)
Income taxes receivable 3,341 566 (1,804)
Route and customer acquisition costs (3,077) (603) (5,438)
Route and customer acquisition costs payable 97 (780) (1,342)
Accounts payable and accrued expenses 3,738 (16,876) (899)
Accrued compensation and related expenses 3,033 3,452 494
Other assets (44) (72) (240)
Net cash provided by (used in) operating activities 110,755 (3,705) 45,565
Cash flows from investing activities:      
Purchases of property and equipment (29,753) (25,761) (20,796)
Proceeds from the sale of property and equipment 1,405 394 121
Purchase of investment in convertible notes 0 0 (30,000)
Payments on consideration payable 0 (299) 0
Business and asset acquisitions, net of cash acquired (6,196) (35,769) (100,857)
Net cash used in investing activities (34,544) (61,435) (151,532)
Cash flows from financing activities:      
Proceeds from term loan 12,338 0 240,000
Payments on term loan (9,000) (12,000) (115,625)
Proceeds from delayed draw term loans 0 65,000 169,000
Payments on delayed draw term loans (4,688) (5,438) (159,000)
Proceeds from revolving debt 42,000 49,000 179,250
Payments on revolving debt (42,000) (107,500) (187,750)
Payments for debt issuance costs (364) (677) (9,374)
Payments for repurchase of common shares (8,983) 0 0
Proceeds from issuance of common stock, net 0 90,422 0
Proceeds from exercise of stock options and warrants 1,704 847 3,583
Payments on consideration payable (2,792) (5,448) (2,321)
Payments on capital lease obligation 0 0 (531)
Proceeds from capital infusion in reverse recapitalization 0 0 27,030
Tax withholding on share-based payments (91) (18) (5,121)
Net cash (used in) provided by financing activities (11,876) 74,188 139,141
Net increase in cash and cash equivalents 64,335 9,048 33,174
Cash and cash equivalents:      
Beginning of year 134,451 125,403 92,229
End of year 198,786 134,451 125,403
Cash payments for:      
Interest 9,647 12,854 12,024
Income taxes 8,589 0 1,759
Supplemental schedules of noncash investing and financing activities:      
Purchases of property and equipment in accounts payable and accrued liabilities 2,718 14,992 11,501
Common stock offering costs in accounts payable and accrued liabilities 0 364 0
Less impact from conversion of treasury stock and issuance of warrants 0 (19,924) 0
Accrued debt issuance costs 3,956 0 0
Acquisition of businesses and assets:      
Total identifiable net assets acquired 6,948 39,731 119,178
Less cash acquired (646) (716) (8,861)
Less contingent consideration (106) (3,246) (7,216)
Less promissory note 0 0 (2,244)
Cash purchase price $ 6,196 $ 35,769 $ 100,857