v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (12,156) $ (13,727)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization of assets 19,793 20,635
Equity-classified and liability-classified stock-based compensation 1,414 1,026
Amortization of debt issuance costs and discounts 1,158 1,116
Debt extinguishment and modification costs 3,006 0
Deferred income tax benefit (3,446) (3,569)
Change in allowance for deferred tax assets 2,565 2,642
Payment-in-kind interest 2,512 3,415
Other non-cash items, net (39) 206
Change in operating assets and liabilities (net of acquisitions):    
Accounts receivable (9,115) 974
Settlement assets and obligations, net (61,570) 1,584
Prepaid expenses and other current assets (1,626) 851
Notes receivable 198 (888)
Accounts payable and other accrued liabilities 10,490 (1,845)
Customer deposits and advance payments 1,385 (2,046)
Other assets and liabilities, net 307 (552)
Net cash (used in) provided by operating activities (45,124) 9,822
Cash flows from investing activities:    
Acquisition of business (34,507) 0
Additions to property, equipment, and software (5,222) (4,249)
Acquisitions of intangible assets (43,353) (3,286)
Net cash used in investing activities (83,082) (7,535)
Repayments of Lines of Credit 0 (4,000)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt, net of issue discount 293,619 0
Debt issuance and modification costs paid (7,597) (2,749)
Repayments of long-term debt (384,552) (2,003)
Borrowings under revolving credit facility 30,000 7,000
Repayments under revolving credit facility 0 (4,000)
Proceeds from issuance of senior preferred equity, net of issue discount 145,000 0
Senior preferred equity issuance fees and costs (5,472) 0
Dividends paid to redeemable senior preferred stockholders (1,575) 0
Redemption of redeemable non-controlling interest of subsidiary (815) 0
Proceeds from exercise of stock options 821 0
Net cash provided by (used in) financing activities 69,429 (1,752)
Net (decrease) increase in cash and restricted cash (58,777) 535
Cash and restricted cash at beginning of period 88,120 50,465
Cash and restricted cash at end of period 29,343 51,000
Supplemental cash flow information:    
Cash paid for interest 10,276 17,032
Non-cash investing and financing activities:    
Payment-in-kind interest 2,512 3,415
Payment of accrued contingent consideration for asset acquisition from offset of account receivable 0 1,686
Accruals for asset acquisition contingent consideration 3,797 0
Notes receivable from sellers used as partial consideration for acquisitions 3,499 0
Reconciliation of cash and restricted cash:    
Cash 11,111 5,854
Restricted cash 18,232 45,146
Total cash and restricted cash $ 29,343 $ 51,000

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