Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income (loss) $ 129,299 $ (8,337)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 54,056 56,013
Deferred income taxes (70,954) 1,933
Amortization of debt issuance costs 2,549 3,139
Amortization of contract assets 3,312 2,782
Amortization of right-of-use assets 2,094 0
Amortization of unrealized gains on terminated interest rate swap agreements (9,676) 0
Amortization of cloud computing software costs 1,446 0
Stock-based compensation 8,587 2,493
Increase in tax receivable agreement liability 800 0
Other non-cash charges, net 524 (541)
Changes in operating assets and liabilities:    
Accounts receivable (24,521) (44,715)
Prepaid expenses and other current assets 1,516 (2,327)
Cloud computing software (23,158) 0
Other non-current assets (3,934) (4,157)
Accounts payable (5,212) (13,736)
Accrued expenses and other current liabilities 5,498 19,676
Accrued salaries and payroll 3,631 6,194
Operating lease liabilities, net (4,125) 0
Other non-current liabilities (805) 626
Net cash provided by operating activities 70,927 19,043
Cash flows from investing activities    
Purchases of property and equipment (3,973) (5,092)
Capitalized software development (9,149) (4,891)
Net cash used in investing activities (13,122) (9,983)
Cash flows from financing activities    
Repayments of debt (6,263) (6,263)
Borrowings on line of credit 0 30,000
Repayments on line of credit 0 (30,000)
Payments for termination of interest rate swap agreements (18,445) 0
Payment of issuance costs - revolving credit facility (342) 0
Other financing 0 (1,240)
Net cash used in financing activities (25,050) (7,503)
Net increase in cash, cash equivalents and restricted cash 32,755 1,557
Effect of exchange rates (1,155) (978)
Cash, cash equivalents and restricted cash    
Beginning of period 116,214 24,059
End of period 147,814 24,638
Cash paid for    
Interest 27,890 51,355
Income taxes paid 2,718 787
Supplemental schedule of non-cash activities    
Unpaid deferred offering costs 0 2,975
Unpaid property and equipment and capitalized software purchases $ 1,102 $ 468