Cash Flow

v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Operating activities:    
Net income $ 21,133 $ 3,907
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,404 2,824
Stock-based compensation 1,306 1,313
Bargain purchase gain (10,963)  
Loss on early debt extinguishment 858  
Amortization of discount on warrants and debt issuance costs 233 207
Deferred rent and tenant improvement allowances   193
Deferred taxes (11,757) 31
Loss on impairment of investments 2,684  
Income from equity method investments   (182)
Gain on disposition of cost method investment   (185)
Changes in operating assets and liabilities:    
Accounts receivable (2,385) (1,209)
Inventory (541) (2)
Other current assets 1,042 (430)
Due from related parties, net (296) (301)
Security deposits 767 11
Other assets (440) 35
Accounts payable 926 79
Accrued expenses (438) 911
Operating lease liabilities and right-of-use assets 589  
Deferred revenue 238 (758)
Net cash provided by operating activities 8,360 6,444
Investing activities:    
Acquisition related payments, net of cash acquired (26,040)  
Purchase of property and equipment (4,357) (4,102)
Distribution from equity method investment   40
Proceeds from disposition of cost method investment   600
Net cash used in investing activities (30,397) (3,462)
Financing activities:    
Borrowings of long-term debt 64,750  
Repayments of long-term debt (28,517) (3,244)
Debt issuance costs (2,864)  
Issuance of common stock   1,223
Exercise of stock options 92  
Tax-withholding obligation on stock based compensation (88)  
Distributions to non-controlling interests (252) (163)
Net cash provided by (used in) financing activities 33,121 (2,184)
Effect of exchange rate changes on cash (332) (754)
Net increase in cash and cash equivalents 10,752 44
Cash and cash equivalents, beginning of year 1,592 1,548
Cash and cash equivalents, end of year 12,344 1,592
Supplemental disclosure of cash flow data:    
Interest paid 1,743 996
Income taxes paid 467 797
Non-cash amortization of debt issuance costs $ 165 $ 19

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