Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net (loss) income $ (6,924) $ 6,518
Adjustments to reconcile net (loss) income to net cash provided by operating activities    
Bad debt expense 199 1,748
Depreciation and amortization expense 14,496 12,080
Amortization of debt issuance costs 147 142
Accretion of acquisition liabilities   36
Deferred taxes (3,175) (3,096)
Stock-based compensation expense 7,252 1,942
Interest expense (income) 9 (42)
Change in fair value of contingent consideration 57 (899)
Offering costs 21,801 1,058
Other 62 621
Changes in operating assets and liabilities net of effect of business combinations    
Trade receivables 8,518 (47)
Prepaid expenses and other current assets (284) 855
Other non-current assets (299) 3
Trade payables and other liabilities 541 2,057
Accrued expenses 121 (2,978)
Other current liabilities 827 (2,680)
Other non-current liabilities (1,120) 148
Net cash provided by operating activities 42,228 17,466
Investing activities:    
Purchase of property, plant and equipment (3,513) (4,562)
Net cash (used in) investing activities (3,513) (4,562)
Financing activities:    
Payments of long-term debt (22,000) (189)
Payment of contingent consideration related to Zentrick acquisition   (601)
Proceeds from common stock issued upon exercise of stock options 3,447 121
Proceeds from issuance of common stock upon initial public offering 269,390  
Proceeds from issuance of common stock in connection with concurrent private placement 30,000  
Payments related to offering costs (21,708) (1,107)
Capital lease payments (804) (874)
Net cash provided by (used in) financing activities 258,275 (4,733)
Effect of exchange rate changes on cash and cash equivalents and restricted cash 13 (80)
Net increase in cash, cash equivalents, and restricted cash 297,003 8,091
Cash, cash equivalents, and restricted cash - Beginning of period 33,395 11,342
Cash, cash equivalents, and restricted cash - End of period 330,398 19,433
Supplemental cash flow information:    
Cash paid for taxes 3,305 7,777
Cash paid for interest 525 1,654
Non-cash investing and financing activities:    
Conversion of Series A preferred stock to common stock in connection with the initial public offering 610  
Treasury stock reissued upon the conversion of Series A preferred stock to common stock 260,686  
Acquisition of equipment under capital lease 1,518 973
Capital assets financed by accounts payable   76
Offering costs included in accounts payable and accrued expense 89 100
Leiki    
Financing activities:    
Deferred payment related to acquisition   (2,033)
Zentrick    
Financing activities:    
Deferred payment related to acquisition $ (50) $ (50)