Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income (loss) $ (6,988) $ 129,299
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 56,246 54,056
Deferred income taxes (1,021) (70,954)
Amortization of debt issuance costs 2,404 2,549
Amortization of contract assets 3,742 3,312
Amortization of right-of-use assets 3,715 2,094
Amortization of unrealized gains on terminated interest rate swap agreements (6,890) (9,676)
Amortization of cloud computing software costs 5,012 1,446
Stock-based compensation 13,889 8,587
Change in tax receivable agreement liability 0 800
Loss on modification and extinguishment of debt 7,745 0
Other non-cash charges, net 1,010 524
Changes in operating assets and liabilities (net of acquisitions):    
Accounts receivable (1,546) (24,521)
Prepaid expenses and other current assets (6,850) 1,516
Cloud computing software (8,465) (23,158)
Other non-current assets (4,960) (3,934)
Accounts payable 156 (5,212)
Accrued expenses and other current liabilities 259 5,498
Accrued salaries and payroll (661) 3,631
Operating lease liabilities, net (3,759) (4,125)
Other non-current liabilities (2,410) (805)
Net cash provided by operating activities 50,628 70,927
Cash flows from investing activities    
Purchases of property and equipment (2,049) (3,973)
Capitalized software development (8,829) (9,149)
Cash paid for acquisitions, net of cash acquired (21,653) 0
Other investing (2,000) 0
Net cash used in investing activities (34,531) (13,122)
Cash flows from financing activities    
Repayments of debt (638,653) (6,263)
Proceeds from Second Amended First Lien Term Loan Facility, net of debt discount 677,890 0
Payments for termination of interest rate swap agreements 0 (18,445)
Payment of issuance costs (6,252) (342)
Repurchases of common stock (109,642) 0
Proceeds from issuance of common stock in connection with stock-based compensation plans 613 0
Taxes paid related to net share settlement of equity awards (211) 0
Net cash used in financing activities (76,255) (25,050)
Net increase (decrease) in cash, cash equivalents and restricted cash (60,158) 32,755
Effect of exchange rates (26) (1,155)
Cash, cash equivalents and restricted cash    
Beginning of year 163,402 116,214
End of period 103,218 147,814
Cash paid for    
Interest 47,234 27,890
Income taxes 1,804 2,718
Supplemental schedule of non-cash activities    
Unpaid property and equipment and capitalized software purchases 654 1,102
Acquisition cash holdback $ 2,250 $ 0