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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows From Operating Activities:    
Net income $ 19,495 $ 17,994
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,562 8,220
Amortization of original issue discount and debt issue costs 502 374
Amortization of inventory step-up 2,310  
Deferred income taxes (1,915) 14
Stock-based compensation 4,151 4,852
Remeasurement of contingent consideration 509  
Provision for losses on accounts receivable 769 (21)
Foreign exchange loss (gain) 971 (776)
Other loss (gain) 251 (433)
Changes in operating assets and liabilities, net of impact of acquisitions:    
Accounts receivable (3,387) 7,605
Inventories 2,355 (11,986)
Prepaid expenses and other assets 705 3,397
Accounts payable and other liabilities (21,998) (971)
Net cash provided by operating activities 13,280 28,269
Cash Flows From Investing Activities:    
Purchase of property and equipment (3,365) (2,404)
Proceeds from disposition of property and equipment 49 206
Business acquisitions, net of cash acquired (141,813)  
Net cash used in investing activities (145,129) (2,198)
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 (6,065) (5,000)
Principal payments on insurance premium financing (2,187) (2,189)
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 91,776  
Deferred offering costs (683)  
Dividends distributed (6,842) (5,993)
Other 37  
Net cash provided by (used in) financing activities 149,881 (15,907)
Effect of foreign exchange rates on cash and cash equivalents 180 332
Change in cash and cash equivalents 18,212 10,496
Cash and cash equivalents, beginning of period 87,691 45,286
Cash and cash equivalents, end of period 105,903 55,782
Supplemental Disclosure of Cash Flows Information:    
Cash paid for income taxes, net 21,605 7,288
Cash paid for interest 6,458 4,859
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Accruals and accounts payable for capital expenditures $ 58 $ 129

Source

10-Q PDF
XBRL