v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows From Operating Activities:    
Net income $ 6,928 $ 7,002
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,942 4,261
Amortization of original issue discount and debt issue costs 149 64
Amortization of inventory step-up 769  
Deferred income taxes 1,546 183
Stock-based compensation 2,067 2,747
Remeasurement of contingent consideration 451  
Provision for losses on accounts receivable 480 40
Foreign exchange loss (gain) 934 (213)
Other loss (gain) 52 (103)
Changes in operating assets and liabilities, net of impact of acquisitions:    
Accounts receivable 2,696 9,075
Inventories 1,818 (5,830)
Prepaid expenses and other assets 2,028 (556)
Accounts payable and other liabilities (21,723) (3,948)
Net cash provided by operating activities 2,137 12,722
Cash Flows From Investing Activities:    
Purchase of property and equipment (1,343) (781)
Proceeds from disposition of property and equipment   201
Business acquisitions, net of cash acquired (141,293)  
Net cash used in investing activities (142,636) (580)
Cash Flows From Financing Activities:    
Proceeds from revolving credit facilities 5,500  
Principal payments on revolving credit facilities (5,500)  
Proceeds from term loans 80,000  
Principal payments on term loans (2,500) (2,500)
Principal payments on insurance premium financing (1,083) (1,092)
Payments for debt issuance costs (844)  
Taxes paid in connection with employee stock transactions (5,311) (2,725)
Proceeds from secondary offering, net of underwriter discounts 73,535  
Deferred offering costs (722)  
Dividends distributed (3,289) (2,986)
Net cash provided by (used in) financing activities 139,786 (9,303)
Effect of foreign exchange rates on cash and cash equivalents 74 169
Change in cash and cash equivalents (639) 3,008
Cash and cash equivalents, beginning of period 87,691 45,286
Cash and cash equivalents, end of period 87,052 48,294
Supplemental Disclosure of Cash Flows Information:    
Cash paid for income taxes, net 9,369 3,141
Cash paid for interest 2,498 2,359
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Accruals and accounts payable for capital expenditures $ 210 $ 238

Source

10-Q PDF
XBRL