XML 21 R6.htm IDEA: XBRL DOCUMENT v3.24.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Q1) - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities          
Net income (loss) $ 1,959,000 $ (3,969,000) [1],[2] $ (15,727,000) $ (82,651,000) $ 152,218,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:          
Depreciation and amortization 2,937,000 3,167,000 [2] 12,133,000 11,498,000 4,425,000
Change in fair value of warrant liability 850,000 (725,000) [1],[2] (1,505,000) (25,370,000) (166,518,000)
Change in tax receivable agreement liability 543,000 100,000 [1],[2] 1,256,000 (142,352,000) 0
Amortization of right-of-use lease assets 1,188,000 1,202,000 [2] 4,930,000 4,655,000 4,402,000
Asset impairment charges 0 0 24,403,000 4,317,000 2,372,000
Stock-based compensation 2,819,000 4,383,000 [2] 13,515,000 23,493,000 29,324,000
Deferred tax asset     0 179,077,000 (842,000)
Discharge of holdback obligation related to prior acquisition     (3,705,000) 0 0
Provision (benefit) for credit losses (658,000) 360,000 [2] 1,792,000 17,216,000 5,487,000
Changes in operating assets and liabilities:          
Accounts receivable 3,923,000 1,677,000 [2] 4,488,000 (16,270,000) (13,609,000)
Operating lease right-of-use assets     0 0 (43,323,000)
Prepaid expenses and other current assets (673,000) 2,447,000 [2] 3,335,000 7,461,000 8,235,000
Other assets 36,000 25,000 [2] (40,000) (229,000) (313,000)
Accounts payable and accrued expenses (3,661,000) (5,130,000) [2] (15,275,000) 14,892,000 699,000
Deferred revenue (132,000) 109,000 [2] (338,000) (1,895,000) 2,793,000
Operating lease liabilities (1,729,000) (1,489,000) [2] (6,334,000) (5,463,000) 44,840,000
Net cash provided by operating activities 7,402,000 2,157,000 [2] 22,928,000 (11,621,000) 30,190,000
Cash flows from investing activities          
Capitalized software and expenditures (4,540,000) (3,226,000) [2] (11,871,000) (16,055,000) (7,935,000)
Cash paid for acquisitions, net of cash acquired     0 (713,000) (16,000,000)
Cash paid for acquisition holdback release     0 (1,000,000) 0
Cash paid for other investments     0 0 (6,500,000)
Net cash used in investing activities (4,540,000) (3,226,000) [2] (11,871,000) (17,768,000) (30,435,000)
Cash flows from financing activities          
Repayments of insurance premium financing 0 (1,450,000) [2] (1,450,000) (7,344,000) (7,098,000)
Distributions (1,589,000) (250,000) [2] (4,218,000) (2,448,000) (18,998,000)
Proceeds from repayment of related party note 96,000 88,000 [2] 384,000 0 0
Taxes paid related to net share settlement of equity awards (2,000) 0 [2] (6,000) (13,000) 0
Proceeds from business combination     0 0 79,969,000
Payment of note payable     0 0 (205,000)
Repurchase of Class B Units     0 0 (5,565,000)
Net cash used in financing activities (1,495,000) (1,612,000) [2] (5,290,000) (9,805,000) 48,103,000
Net increase (decrease) in cash 1,367,000 (2,681,000) [2] 5,767,000 (39,194,000) 47,858,000
Cash - beginning of period 34,350,000 28,583,000 [2] 28,583,000 [2] 67,777,000 19,919,000
Cash - end of period 35,717,000 25,902,000 [2] 34,350,000 28,583,000 [2] 67,777,000
Supplemental disclosures of noncash investing and financing activities          
Stock-based compensation capitalized for software development $ 356,000 $ 298,000 [2] $ 1,386,000 $ 1,667,000 $ 1,099,000
[1] For the three months ended March 31, 2023, net revenues and general and administrative expenses have been retrospectively adjusted to reflect the restatement of previously reported revenue and credit losses. See Note 2, “Summary of Significant Accounting Policies,” for further information.
[2] For the three months ended March 31, 2023, provision (benefit) for credit losses and change in accounts receivable have been retrospectively adjusted to reflect the restatement of previously reported revenue and credit losses. See Note 2, “Summary of Significant Accounting Policies,” for further information.