General form of registration statement for all companies including face-amount certificate companies

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net income $ 20,453 $ 23,307 $ 3,177
Adjustments to reconcile net income to net cash provided by operating activities      
Bad debt expense 4,811 3,346 1,487
Depreciation and amortization expense 24,595 21,813 18,626
Amortization of debt issuance costs 285 298 301
Loss on extinguishment of debt 350    
Accretion of acquisition liabilities 36 363  
Deferred taxes (5,137) 1,997 (2,045)
Non-cash stock-based compensation expense 5,984 1,680 1,442
Interest expense (income) (12) (119) 216
Unrealized gain (949) (1,079)  
Offering costs 3,555    
Other 673    
Changes in operating assets and liabilities, net of effects of business combinations      
Trade receivables (30,443) (32,741) (12,972)
Prepaid expenses and other current assets (8,792) (1,637) (1,234)
Other non-current assets (221) (409) (8)
Trade payables and other liabilities 2,482 (538) (339)
Accrued expenses 8,960 6,162 1,369
Other current liabilities (6,560) 9,954 277
Other non-current liabilities 1,146 (2,964) 1,761
Net cash provided by operating activities 21,216 29,433 12,058
Investing activities:      
Acquisition of businesses, net of cash acquired   (57,252) (11,328)
Purchase of property, plant and equipment (9,751) (5,943) (1,640)
Net cash (used in) investing activities (9,751) (63,195) (12,968)
Financing activities:      
Proceeds from long-term debt 89,650 20,000 25,225
Payments of long-term debt (142,113) (750) (985)
Payments related to debt issuance costs (577)    
Payments related to offering costs (3,610)    
Deferred payment related to acquisition of assets   (71) (145)
Payment of contingent consideration related to Zentrick acquisition (601) (601)  
Repurchase of vested options (15,506)    
Proceeds from Series A preferred stock issuance, net of issuance costs 346,150    
Payments to shareholders for preferred stock Series A (260,686)    
Proceeds from common stock issued upon exercise of stock options 780 177 7
Proceeds from common stock issued under employee purchase plan 424   100
Capital lease payments (1,443) (1,521) (1,301)
Net cash provided by (used in) financing activities 10,385 15,045 22,901
Effect of exchange rate changes on cash and cash equivalents and restricted cash 203 23 (76)
Net increase in cash, cash equivalents, and restricted cash 22,053 (18,694) 21,915
Cash, cash equivalents, and restricted cash - Beginning of period 11,342 30,036 8,121
Cash, cash equivalents, and restricted cash - End of period 33,395 11,342 30,036
Supplemental cash flow information:      
Cash paid for taxes 16,180 1,962 1,866
Cash paid for interest 3,369 4,659 2,541
Noncash investing and financing transaction      
Exchange of common stock for preferred stock 260,686    
Deferred payment obligation issued as consideration   2,097 3,973
Contingent consideration issued   4,690  
Acquisition of equipment under capital lease 1,603 1,535 $ 3,924
Offering costs not yet paid for 75    
Leiki Oy acquisition      
Financing activities:      
Deferred payment related to acquisition (2,033) $ (2,189)  
Zentrick NV acquisition      
Financing activities:      
Deferred payment related to acquisition $ (50)