XML 154 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Q2) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income (loss) $ 3,153,000 $ (1,986,000) [1]
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 6,124,000 6,022,000 [2]
Change in fair value of warrant liability 390,000 320,000 [1]
Change in tax receivable agreement liability 938,000 620,000 [1]
Amortization of right-of-use lease assets 2,385,000 2,423,000 [2]
Stock-based compensation 5,571,000 8,092,000 [2]
Gain on lease termination (109,000) 0 [2]
Asset impairment charges 0 0
Provision (benefit) for credit losses (616,000) (415,000) [2]
Changes in operating assets and liabilities:    
Accounts receivable 4,774,000 2,882,000 [2]
Prepaid expenses and other current assets 328,000 1,623,000 [2]
Other assets 123,000 41,000 [2]
Accounts payable and accrued expenses 610,000 (12,880,000) [2]
Deferred revenue (74,000) 406,000 [2]
Operating lease liabilities (3,543,000) (3,056,000) [2]
Net cash provided by operating activities 20,054,000 4,092,000 [2]
Cash flows from investing activities    
Capitalized software and expenditures (7,140,000) (5,806,000) [2]
Net cash used in investing activities (7,140,000) (5,806,000) [2]
Cash flows from financing activities    
Repayments of insurance premium financing 0 (1,450,000) [2]
Distributions (5,950,000) (1,002,000) [2]
Proceeds from repayment of related party note 96,000 187,000 [2]
Tax receivable agreement payment (116,000) 0 [2]
Taxes paid related to net share settlement of equity awards (2,000) (1,000) [2]
Net cash used in financing activities (5,972,000) (2,266,000) [2]
Net increase (decrease) in cash 6,942,000 (3,980,000) [2]
Cash - beginning of period 34,350,000 28,583,000 [2]
Cash - end of period 41,292,000 24,603,000 [2]
Supplemental disclosures of noncash investing and financing activities    
Stock-based compensation capitalized for software development 613,000 594,000 [2]
Capitalized assets included in accounts payable and accrued expenses $ 789,000 $ 704,000 [2]
[1] For the three and six months ended June 30, 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 six months ended June 30, 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.