Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income $ 9,650 $ 6,161
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation and amortization expense 3,720 1,736
Provision for doubtful accounts 66 77
Deferred income tax benefit (409) (188)
Share-based compensation expense 2,496 1,906
Gain on disposal of fixed assets (5) 0
Amortization of discount on accounts receivable (23) (17)
Amortization of right-of-use assets 279 126
Change in fair value of contingent earn-out consideration 515 (0)
Changes in operating assets and liabilities:    
Accounts receivable 61,608 39,751
Inventory (748) 2,070
Prepaid expenses and other current assets (2,270) 1,093
Accounts payable and accrued expenses (68,471) (29,523)
Lease liability, net (319) (195)
Other assets and liabilities 173 (1,659)
Net cash and cash equivalents provided by operating activities 6,262 21,338
Cash flows from investing activities    
Purchase of equipment and leasehold improvements and capitalization of internal-use software (1,401) (2,361)
Net cash and cash equivalents used in investing activities (1,401) (2,361)
Cash flows from financing activities    
Purchase of treasury stock (1,423) (715)
Repayments of borrowings under credit facilities 0 (4,219)
Repayments of borrowings under term loan (278) (267)
Dividends paid (1,533) (1,514)
Contingent consideration paid (3,559) (150)
Net cash and cash equivalents used in financing activities (6,793) (6,865)
Effect of foreign exchange rate on cash and cash equivalents 741 (44)
Net increase in cash and cash equivalents (1,191) 12,068
Cash and cash equivalents at beginning of period 29,778 36,295
Cash and cash equivalents at end of period 28,587 48,363
Supplementary disclosure of cash flow information:    
Income taxes paid 5,136 2,484
Interest paid $ 53 $ 96