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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ (6,783) $ 13,240
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 37,654 29,529
Provision for doubtful accounts 0 300
Amortization of debt issuance costs 2,551 953
Stock/unit-based compensation expense 26,835 2,058
Loss on disposal of fixed assets 524 72
Loss on sublease liability 405 0
Loss on debt repayment 4,351 0
Other adjustments (18) 0
Deferred income taxes 4,992 3,329
Changes in operating assets and liabilities:    
Accounts receivable (2,033) (4,660)
Prepaid expenses and other assets (6,179) (1,063)
Accounts payable (961) 1,825
Accrued liabilities (2,271) 559
Deferred revenue 10,016 9,091
Deferred rent (71) (52)
Net cash provided by operating activities 69,012 55,181
Cash flows from investing activities:    
Acquisitions, net of cash acquired – TazWorks, LLC (85,420) 0
Acquisitions, net of cash acquired – Saylent Technologies, Inc (35,945) 0
Capitalized software additions (3,590) (2,163)
Purchases of property and equipment (692) (3,403)
Net cash used in investing activities (125,647) (5,566)
Cash flows from financing activities:    
Proceeds from initial public offering, net of underwriters’ discounts and commissions 247,227 0
Proceeds from exercise of stock options 1,317 0
Payment due to effect of corporate conversion (6) 0
Proceeds from long-term debt 100,000 0
Principal payments of long-term debt (202,590) (3,117)
Payments of debt issuance costs (1,970) 0
Payments of financing obligation due to related party 0 (81)
Payments of Class A cumulative preferred return (12) (135)
Payments of deferred offering costs (4,435) 0
Payment to sellers of Teledata Communications, Inc (2,142) 0
Holdback payment to sellers of MeridianLink (25,665) 0
Net cash provided by (used in) financing activities 109,783 (6,347)
Net increase in cash, cash equivalents and restricted cash 53,148 43,268
Cash, cash equivalents and restricted cash, beginning of period 39,881 97,770
Cash, cash equivalents and restricted cash, end of period 93,029 141,038
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 93,029 141,038
Restricted cash 0 0
Cash, cash equivalents, and restricted cash 93,029 141,038
Supplemental disclosures of cash flow information:    
Cash paid for interest 24,549 25,326
Cash paid for income taxes 239 69
Non-cash investing and financing activities:    
Purchases of property and equipment included in accounts payable and accrued expenses 0 102
Stock-based compensation expense capitalized to software additions 45 0
Deferred offering costs in prepaid expenses and other current assets at December 31, 2020 offsetting payments of deferred offering costs 423 0
Vesting of Restricted stock awards and RSUs 85 64
Effect of corporate conversion (Note 1) 320 0
Related party receivable net against holdback payment to prior shareholders 4,335 0
Class A Units    
Cash flows from financing activities:    
Repurchases of Units (54) (900)
Class B Units    
Cash flows from financing activities:    
Repurchases of Units $ (1,887) $ (2,114)