Cash Flow

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net income (loss) $ 3,521 $ (60)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 2,715 2,699
Stock-based compensation 879 1,022
Amortization of debt issuance costs 93 141
Deferred taxes (15) 349
Changes in operating assets and liabilities:    
Accounts receivable 3,086 1,148
Inventory (1,100)  
Other current assets 1,183 (809)
Security deposits 57 3
Other assets (150) (164)
Accounts payable 244 392
Accrued expenses (575) 2,537
Operating lease liabilities and right-of-use assets 283 88
Deferred gift card and license revenue (398) (360)
Net cash provided by operating activities 9,823 6,986
Investing activities:    
Purchase of property and equipment (4,450) (2,615)
Net cash used in investing activities (4,450) (2,615)
Financing activities:    
Repayments of long-term debt (125) (40)
Debt issuance costs   (35)
Tax-withholding obligation on stock-based compensation (128) (154)
Purchase of non-controlling interests   (75)
Net cash used in financing activities (253) (304)
Effect of exchange rate changes on cash (90) (17)
Net increase in cash and cash equivalents 5,030 4,050
Cash and cash equivalents, beginning of period 23,614 24,385
Cash and cash equivalents, end of period 28,644 28,435
Supplemental disclosure of cash flow data:    
Interest paid 402 $ 1,022
Income taxes paid 86  
Accrued purchases of property and equipment $ 1,637  

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