Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Cash flows from operating activities      
Net income $ 3,684 $ 2,731  
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:      
Depreciation and amortization expense 1,737 871  
Provision for doubtful accounts 35 45  
Deferred income tax benefit (130) (77)  
Share-based compensation expense 1,323 822  
Gain on disposal of fixed assets (5) 0  
Amortization of discount on accounts receivable (12) (6)  
Amortization of right-of-use assets 170 29  
Change in fair value of contingent earn-out consideration 136 (0)  
Changes in operating assets and liabilities:      
Accounts receivable 103,235 40,435  
Inventory 171 1,824  
Prepaid expenses and other current assets 722 115  
Accounts payable and accrued expenses (102,524) (31,024)  
Lease liability, net (195) (63)  
Other assets and liabilities 110 (1,655)  
Net cash and cash equivalents provided by operating activities 8,457 14,047  
Cash flows from investing activities      
Purchase of equipment and leasehold improvements and capitalization of internal-use software (729) (1,180)  
Net cash and cash equivalents used in investing activities (729) (1,180)  
Cash flows from financing activities      
Purchase of treasury stock (883) (432)  
Repayments of borrowings under credit facilities 0 (4,229)  
Repayments of borrowings under term loan (138) (133)  
Dividends paid (766) (756)  
Contingent consideration paid (3,559) 0  
Net cash and cash equivalents used in financing activities (5,346) (5,550)  
Effect of foreign exchange rate on cash and cash equivalents 301 (40)  
Net increase in cash and cash equivalents 2,683 7,277  
Cash and cash equivalents at beginning of period 29,778 36,295 $ 36,295
Cash and cash equivalents at end of period 32,461 43,572 $ 29,778
Supplementary disclosure of cash flow information:      
Income taxes paid 384 272  
Interest paid $ 32 $ 68