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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Cash flows from operating activities              
Net (loss) $ (13,022) $ (9,848) $ (384) $ 161 $ (22,870) $ (223)  
Adjustments to reconcile net (loss) to net cash provided by (used in) operating activities:              
Non-cash equity-based compensation expense         29,616 22,123  
Non-cash lease expense         357 246  
Depreciation expense on property and equipment         197 173  
Amortization of intangible assets 1,700   700   2,360 1,492 $ 2,984
Amortization of deferred debt issuance costs 200   300   418 694  
Change in fair value of contingent consideration         (2,845) 0  
Credit losses         (127) 235  
Deferred taxes         1,630 (865)  
Tax receivable agreement liability adjustments         (589) (156)  
Changes in operating assets and liabilities:              
Accounts receivable         38,691 21,775  
Prepaid expenses and other current assets         4,057 2,472  
Other assets         198 310  
Accounts payable         (28,354) (51,940)  
Accrued expenses         (2,845) (2,136)  
Net cash provided by (used in) operating activities         19,894 (5,800)  
Cash flows from investing activities              
Purchases of property and equipment         (79) (470)  
Cash consideration paid in connection with CHT acquisition         (49,677) 0  
Net cash (used in) investing activities         (49,756) (470)  
Cash flows from financing activities              
Revolving credit facility         25,000 0  
Term loan facility         (4,750) 0  
Repurchases of Class A common stock         (3,382) 0  
Distributions         (590) (110)  
Shares withheld for taxes on vesting of restricted stock units         (1,786) (2,174)  
Net cash provided by (used in) financing activities         14,492 (2,284)  
Net (decrease) in cash and cash equivalents         (15,370) (8,554)  
Cash and cash equivalents, beginning of period   $ 50,564   $ 23,554 50,564 23,554 23,554
Cash and cash equivalents, end of period $ 35,194   $ 15,000   35,194 15,000 $ 50,564
Supplemental disclosures of cash flow information              
Interest         2,865 2,644  
Income taxes paid, net of refunds         (2,152) 4  
Non-cash Investing and Financing Activities:              
Adjustments to liabilities under the tax receivable agreement         (1,619) (53,519)  
Establishment of deferred tax assets in connection with the Reorganization Transactions         (1,642) (59,763)  
Right-of-use assets obtained in exchange of lease obligations         0 3,641  
Fair value of contingent consideration in connection with CHT acquisition         $ 7,007 $ 0