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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows From Operating Activities:    
Net income $ 9,248 $ 6,928
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,856 3,942
Amortization of original issue discount and debt issue costs 500 149
Amortization of inventory step-up   769
Deferred income taxes 533 1,546
Stock-based compensation 1,968 2,067
Remeasurement of contingent consideration 331 451
(Recoveries from) provision for losses on accounts receivable (17) 480
Unrealized foreign exchange transaction (gain) loss (731) 934
Other loss (gain) 41 52
Changes in operating assets and liabilities, net of impact of acquisitions:    
Accounts receivable 10,633 2,696
Inventories (9,143) 1,818
Prepaid expenses and other assets 1,340 2,028
Accounts payable and other liabilities (1,168) (21,723)
Net cash provided by operating activities 17,391 2,137
Cash Flows From Investing Activities:    
Purchase of property and equipment (1,309) (1,343)
Business acquisitions, net of cash acquired   (141,293)
Net cash used in investing activities (1,309) (142,636)
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 (2,813) (2,500)
Principal payments on insurance premium financing   (1,083)
Payments for debt issuance costs   (844)
Taxes paid in connection with employee stock transactions (1,140) (5,311)
Proceeds from secondary offering, net of underwriter discounts   73,535
Deferred offering costs   (722)
Dividends distributed (3,859) (3,289)
Net cash (used in) provided by financing activities (7,812) 139,786
Effect of foreign exchange rates on cash and cash equivalents 228 74
Change in cash and cash equivalents 8,498 (639)
Cash and cash equivalents, beginning of period 124,933 87,691
Cash and cash equivalents, end of period 133,431 87,052
Supplemental Disclosure of Cash Flows Information:    
Cash paid for income taxes, net 2,017 9,369
Cash paid for interest 3,527 2,498
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Accruals and accounts payable for capital expenditures 104 $ 210
Accruals for taxes paid in connection with employee stock transactions $ 24  

Source

10-Q PDF
XBRL