Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net loss $ (21,303) $ (92,077) $ (70,463)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 78,357 76,932 78,051
Deferred income taxes 1,485 2,903 683
Amortization of debt issuance costs 4,080 4,036 3,623
Amortization of contract assets 3,796 2,984 2,167
Change in fair value of derivatives 0 0 26,393
Stock-based compensation 4,528 3,218 3,390
Loss on extinguishment of debt 5,006 0 0
Other non-cash charges, net (311) 1,731 3,682
Changes in operating assets and liabilities, net of effect of businesses acquired:      
Accounts receivable (35,745) (10,245) 3,834
Prepaid expenses and other current assets 240 1,408 2,686
Other non-current assets (13,375) (4,181) (6,494)
Accounts payable (10,994) 7,767 (3,291)
Accrued expenses and other current liabilities 18,487 12,020 (14,934)
Accrued salaries and payroll 6,156 9,518 (7,425)
Other non-current liabilities 7,067 412 128
Net cash provided by operating activities 47,474 16,426 22,030
Cash flows from investing activities      
Purchases of property and equipment (6,228) (5,707) (6,681)
Capitalized software development (7,809) (6,403) (7,693)
Cash paid for acquisitions, net of cash acquired 0 (96) (7,346)
Net cash used in investing activities (14,037) (12,206) (21,720)
Cash flows from financing activities      
Proceeds from issuance of common stock in initial public offering, net of underwriting discounts and commissions 399,044 0 0
Payment of initial public offering issuance costs (5,543) 0 0
Repayments of debt (323,350) (8,350) (8,350)
Borrowings on line of credit 30,000 50,000 0
Repayments on line of credit (40,000) (40,000) (5,000)
Payments of third-party costs related to debt extinguishment (164) 0 0
Payment of capital lease obligations 0 (446) (531)
Payment of contingent consideration 0 (1,000) (3,000)
Payment of holdbacks 0 (1,188) 0
Net cash provided by (used in) financing activities 59,987 (984) (16,881)
Net increase (decrease) in cash, cash equivalents and restricted cash 93,424 3,236 (16,571)
Effect of exchange rates (1,269) (357) (172)
Cash, cash equivalents and restricted cash      
Beginning of period 24,059 21,180 37,923
End of period 116,214 24,059 21,180
Cash paid for      
Interest 65,530 71,043 76,851
Income taxes 1,019 1,131 2,558
Supplemental schedule of non-cash investing and financing activities      
Recognition of liability under tax receivable agreement 210,639 0 0
Unpaid property and equipment and capitalized software purchases $ 1,526 $ 1,216 $ 561