v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (333) $ (2,679)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization of assets 17,353 9,070
Stock-based compensation 1,558 558
Amortization of debt issuance costs and discounts 848 590
Deferred income tax benefit (3,227) (2,299)
PIK interest 0 1,924
Other non-cash items, net 0 (64)
Change in operating assets and liabilities:    
Accounts receivable (14,440) (9,575)
Prepaid expenses and other current assets 164 (539)
Income taxes payable (receivable) 2,913 (44)
Notes receivable 98 862
Accounts payable and other accrued liabilities 5,316 8,633
Customer deposits and advance payments (13) 2,604
Other assets and liabilities, net (624) 59
Net cash provided by operating activities 9,613 9,100
Cash flows from investing activities:    
Additions to property, equipment and software (2,370) (2,754)
Notes receivable loan funding (2,400) 0
Acquisitions of intangible assets (941) (2,937)
Net cash used in investing activities (5,711) (5,691)
Cash flows from financing activities:    
Repayments of long-term debt (1,550) (4,860)
Repayments of borrowings under revolving credit facility (5,000) 0
Dividends paid to redeemable senior preferred stockholders (3,505) 0
Settlement and customer accounts obligations, net 12,749 (22,526)
Other financing activities (156) 617
Net cash provided by (used in) financing activities 2,538 (26,769)
Net increase in cash and cash equivalents, and restricted cash 6,440 (23,360)
Cash and cash equivalents, and restricted cash at beginning of period 518,093 88,120
Cash and cash equivalents, and restricted cash equivalents at end of period 524,533 64,760
Supplemental cash flow information:    
Cash paid for interest 10,613 6,553
Non-cash investing and financing activities:    
PIK interest added to principal of debt obligations 0 1,924
Reconciliation of cash and cash equivalents, and restricted cash:    
Cash and cash equivalents 13,557 5,827
Restricted cash 13,588 58,933
Customer account balances (see Note 4) 497,388 0
Total cash and cash equivalents, and restricted cash $ 524,533 $ 64,760

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