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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) $ (58,120) $ (29,885) $ (22,454)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 51,508 20,167 10,549
Amortization of deferred financing costs 3,506 1,002 1,312
Loss on extinguishment of debt 0 0 6,732
Gain (Loss) on Disposition of Property Plant Equipment 311 67 0
Issuance of management incentive units 0 0 1,334
Participation unit compensation 0 0 50
Share-based compensation expense 19,193 7,744 3,227
Change in fair value of contingent consideration 45,196 20,516 10,829
Change in fair value of interest rate caps 123 0 0
Payment of contingent earnout consideration in excess of purchase price accrual (4,825) (1,727) (8)
Changes in operating assets and liabilities, net of effect of acquisitions:      
Premiums, commissions and fees receivable, net (64,501) (6,828) (6,000)
Prepaid expenses and other assets (8,032) (1,611) (2,631)
Due to/from related parties (1,649) 24 74
Right-of-use assets (81,646) 0 0
Accounts payable, accrued expenses and other current liabilities 55,188 27,348 9,000
Operating lease liabilities 83,877 0 0
Net cash provided by operating activities 40,129 36,817 12,014
Cash flows from investing activities:      
Cash consideration paid for business combinations, net of cash received (668,033) (669,236) (98,423)
Capital expenditures (5,321) (5,469) (1,718)
Investment in business venture (1,907) (1,250) (200)
Cash consideration paid for asset acquisitions, net of cash received (3,212) (1,854) (679)
Net cash used in investing activities (678,473) (677,809) (101,020)
Cash flows from financing activities:      
Proceeds from issuance of Class A common stock, net of underwriting discounts 269,375 451,574 246,208
Purchase of LLC Units from shareholders 0 (78,274) (31,332)
Payment of offering costs (1,054) (1,868) (4,840)
Payment of contingent and guaranteed earnout consideration (7,723) (1,192) (980)
Proceeds from revolving line of credit 420,210 385,637 69,592
Repayments of revolving line of credit (385,210) (325,000) (66,200)
Proceeds from long-term debt 441,430 286,331 0
Repayments of long-term debt (5,630) (1,000) (204)
Payments of debt issuance and debt extinguishment costs (1,124) (4,507) (481)
Proceeds received from repayment of stockholder/member notes receivable 246 223 164
Purchase of interest rate caps (6,461) 0 0
Proceeds from related party debt 0 0 49,845
Repayments of related party debt 0 0 (88,425)
Payments for repurchase of common units 0 0 (12,500)
Distributions 0 0 (10,549)
Other financing activity 0 19 1,784
Net cash provided by financing activities 724,059 711,943 152,082
Net increase in cash and cash equivalents and restricted cash 85,715 70,951 63,076
Cash and cash equivalents and restricted cash at beginning of year 142,022 71,071 7,995
Cash and cash equivalents and restricted cash at end of year 227,737 142,022 71,071
Supplemental schedule of cash flow information:      
Cash paid during the year for interest 22,110 5,958 9,487
Disclosure of non-cash investing and financing activities:      
Equity interest issued in business combinations and asset acquisitions 194,607 186,116 38,637
Contingent earnout liabilities assumed in business combinations and asset acquisitions 127,420 98,523 29,117
Right-of-use assets obtained in exchange for operating lease liabilities 86,524 0 0
Conversion of contingent earnout liability to related party notes payable 61,500 0 0
Noncash debt issuance costs recorded 11,557 12,554 2,809
Right-of-use assets increased through lease modifications and reassessments 6,131 0 0
Noncash tax distributions payable 5,072 0 0
Principal and interest on revolving line of credit paid through funding of long-term debt 0 101,115 0
Capital expenditures incurred but not yet paid 350 301 0
Change in the redemption value of redeemable interests 0 0 143,413
Capitalization of issuance to redeemable common member 0 0 5,509
Exchange of advisor incentive plan liability to equity 0 0 2,153
Transfer of long-term debt to revolving line of credit 0 0 1,820
Contingently returnable consideration recorded in business combinations 0 0 321
Exchange of participation unit ownership plan liability to equity $ 0 $ 0 $ 311