Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income $ 3,334 $ 3,684
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation and amortization expense 1,983 1,737
Provision for doubtful accounts 24 35
Deferred income tax benefit (134) (130)
Share-based compensation expense 1,359 1,323
Gain on disposal of fixed assets 0 (5)
Amortization of discount on accounts receivable (19) (12)
Amortization of right-of-use assets 164 170
Change in fair value of contingent earn-out consideration (0) 136
Accounts receivable 20,788 103,235
Inventory (2,425) 171
Prepaid expenses and other current assets 1,510 722
Accounts payable and accrued expenses (12,768) (102,524)
Lease liability, net (206) (195)
Other assets and liabilities 3,216 110
Net cash and cash equivalents provided by operating activities 16,826 8,457
Cash flows from investing activities    
Purchases of property and equipment (478) (729)
Payment for acquisition, net of cash acquired (8,228) 0
Net cash and cash equivalents used in investing activities (8,706) (729)
Cash flows from financing activities    
Purchase of treasury stock (1,493) (883)
Borrowings under credit facilities 9,000 0
Repayments of borrowings under credit facilities (10,079) 0
Repayments of borrowings under term loan (145) (138)
Dividends paid 0 (766)
Contingent consideration paid 0 (3,559)
Net cash and cash equivalents used in financing activities (2,717) (5,346)
Net increase in cash and cash equivalents 5,212 2,683
Cash and cash equivalents at beginning of period 36,563 29,778
Cash and cash equivalents at end of period 41,775 32,461
Effect of foreign exchange rate on cash and cash equivalents (191) 301
Supplementary disclosure of cash flow information:    
Income taxes paid 462 384
Interest paid $ 52 $ 32