v3.19.1
Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Cash Flows From Operating Activities:      
Net (loss) income $ (15,041) $ 4,594 $ 20,186
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization of assets 19,740 14,674 14,733
Equity-based compensation 1,649 1,021 2,314
Amortization of debt issuance costs and discount 1,418 1,211 665
Equity in losses and impairment of unconsolidated entities 865 133 162
Provision for deferred income taxes (2,206) 0 0
Change in fair value of warrant liability 3,458 4,198 1,204
Change in fair value of contingent consideration 0 (410) (2,665)
Loss on debt extinguishment 0 1,753 0
Payment-in-kind interest 4,897 5,118 0
Other non-cash charges 211 133 196
Change in operating assets and liabilities (net of business combinations):      
Accounts receivable 1,991 (13,687) 8,388
Settlement assets 6,166 (1,517) 1,296
Prepaid expenses and other current assets 171 1,673 409
Notes receivable 4,862 (1,677) (2,855)
Accounts payable and other current liabilities 2,473 19,017 (21,685)
Other assets and liabilities 694 635 (73)
Net Cash Provided By Operating Activities 31,348 36,869 22,275
Cash Flows From Investing Activities:      
Acquisitions of businesses (7,508) 0 0
Additions to property, equipment, and software (10,562) (6,554) (4,098)
Acquisitions of merchant portfolios (90,858) (2,483) (2,264)
Net Cash Used In Investing Activities (108,928) (9,037) (6,362)
Cash Flows From Financing Activities:      
Proceeds from issuance of long-term debt, net of issue discount 126,813 276,290 0
Repayments of long-term debt (2,834) (90,696) 0
Borrowings under revolving line of credit 8,000 0 0
Repayments of borrowings under revolving line of credit (8,000) 0 0
Debt issuance costs (425) (4,570) (529)
Distributions from equity (7,075) (3,399) (10,019)
Redemptions of equity interests (76,211) (203,000) 0
Recapitalization proceeds 49,389 0 0
Redemption of warrants (12,701) 0 0
Recapitalization costs (9,704) 0 0
Net Provided By (Used In) Financing Activities 67,252 (25,375) (10,548)
Net change in cash and restricted cash (10,328) 2,457 5,365
Cash and restricted cash at beginning of year 44,159 41,702 36,337
Cash and restricted cash at end of year 33,831 44,159 41,702
Supplemental cash flow information:      
Cash paid for interest 23,350 19,036 3,716
Non-cash investing and financing activities:      
Purchases of property, equipment, and software through accounts payable 50 60 392
Notes receivable from sellers used as partial consideration for business acquisitions 560 0 0
Common stock issued for business acquisitions 5,000 0 0
Cash consideration payable for business acquisition 184 0 0
Common share repurchase obligation $ 0 $ 9,190 $ 0

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