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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income (loss) $ 74,102 $ 31,559 $ (410)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization of property and equipment 29,295 24,636 20,969
Amortization of intangible assets and route and customer acquisition costs 17,484 22,040 22,608
Amortization of debt issuance costs 2,110 2,099 2,064
Stock-based compensation 6,840 6,403 5,538
(Gain) loss on change in fair value of contingent earnout shares (19,544) 9,762 (8,484)
Gain on change in fair value of warrants 0 0 (12,574)
(Gain) loss on disposal of property and equipment (608) (63) 47
Loss on write-off of route and customer acquisition costs and route and customer acquisition costs payable 757 711 910
Loss on debt extinguishment 0 1,152 0
Remeasurement of contingent consideration (3,524) 4,347 (584)
Payments on consideration payable (3,570) (2,566) (1,766)
Accretion of interest on route and customer acquisition costs payable, contingent consideration, and contingent stock consideration 2,460 2,617 2,030
Payments for debt issuance costs 0 (156) 0
Deferred income taxes 13,433 6,108 (16,836)
Changes in operating assets and liabilities, net of acquisition of businesses:      
Prepaid expenses and other current assets (1,610) (4,982) (2,904)
Accounts receivable, net (1,651) 0 0
Inventories (500) 0 0
Income taxes receivable (349) 3,341 566
Route and customer acquisition costs (4,347) (3,077) (603)
Route and customer acquisition costs payable 358 97 (780)
Accounts payable and accrued expenses 1,791 3,738 (16,876)
Accrued compensation and related expenses 95 3,033 3,452
Other assets (5,023) (44) (72)
Net cash provided by (used in) operating activities 107,999 110,755 (3,705)
Cash flows from investing activities:      
Purchases of property and equipment (47,379) (29,753) (25,761)
Proceeds from the sale of property and equipment 2,144 1,405 394
Payments on consideration payable 0 0 (299)
Business and asset acquisitions, net of cash acquired (144,028) (6,196) (35,769)
Net cash used in investing activities (189,263) (34,544) (61,435)
Cash flows from financing activities:      
Proceeds from term loan 0 12,338 0
Payments on term loan (21,875) (9,000) (12,000)
Proceeds from delayed draw term loans 100,000 0 65,000
Payments on delayed draw term loans (3,750) (4,688) (5,438)
Proceeds from revolving debt 140,000 42,000 49,000
Payments on revolving debt (19,000) (42,000) (107,500)
Payments for debt issuance costs 0 (364) (677)
Payments for repurchase of common shares (79,002) (8,983) 0
Payments on interest rate caplets (873) 0 0
Proceeds from issuance of common stock, net 0 0 90,422
Proceeds from exercise of stock options and warrants 366 1,704 847
Payments on consideration payable (9,197) (2,792) (5,448)
Tax withholding on share-based payments (78) (91) (18)
Net cash provided by (used in) financing activities 106,591 (11,876) 74,188
Net increase in cash and cash equivalents 25,327 64,335 9,048
Cash and cash equivalents:      
Beginning of year 198,786 134,451 125,403
End of year 224,113 198,786 134,451
Cash payments for:      
Interest 19,942 9,647 12,854
Income taxes 7,662 8,589 0
Supplemental schedules of noncash investing and financing activities:      
Purchases of property and equipment in accounts payable and accrued liabilities 9,763 2,718 14,992
Deferred premium on interest rate caplets 3,025 0 0
Fair value of treasury stock issued in business combination 5,584 0 0
Common stock offering costs in accounts payable and accrued liabilities 0 0 364
Conversion of contingent earnout shares 0 0 (19,924)
Accrued debt issuance costs 0 3,956 0
Acquisition of businesses and assets:      
Total identifiable net assets acquired 185,415 6,948 39,731
Less cash acquired (33,270) (646) (716)
Less contingent consideration (2,533) (106) (3,246)
Less fair value of treasury stock issued (5,584) 0 0
Cash purchase price $ 144,028 $ 6,196 $ 35,769