v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash Flows From Operating Activities:      
Net income $ 44,139 $ 36,133 $ 38,641
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 18,633 16,420 15,737
Amortization of original issue discount and debt issue costs 1,321 1,109 479
Amortization of inventory step-up 1,296 3,858  
Deferred income taxes 2,388 (2,064) (210)
Stock-based compensation 12,239 8,369 9,368
Remeasurement of contingent consideration 1,927 1,185  
(Recoveries from) provision for losses on accounts receivable (108) 764 66
Unrealized foreign exchange transaction gain (2,356) 1,880 (602)
Other loss (gain) 390 496 (381)
Changes in operating assets and liabilities, net of impact of acquisitions:      
Accounts receivable 8,363 (24,902) 6,602
Inventories (3,617) 10,019 (10,223)
Prepaid expenses and other assets (4,503) (5,866) (302)
Accounts payable and other liabilities (16,407) (15,624) 14,034
Net cash provided by operating activities 63,705 31,777 73,209
Cash Flows From Investing Activities:      
Purchase of property and equipment (6,856) (5,668) (6,727)
Proceeds from disposition of property and equipment 77 55 207
Business acquisitions, net of cash acquired (89,590) (141,813)  
Net cash used in investing activities (96,369) (147,426) (6,520)
Cash Flows From Financing Activities:      
Proceeds from revolving credit facilities   5,500  
Principal payments on revolving credit facilities   (5,500)  
Proceeds from term loans 97,500 129,422  
Principal payments on term loans (13,823) (43,334) (10,000)
Proceeds from insurance premium financing     3,949
Principal payments on insurance premium financing   (2,187) (3,973)
Payments for debt issuance costs   (3,105)  
Taxes paid in connection with employee stock transactions (40,227) (5,311) (2,725)
Proceeds from exercise of stock options 3,377    
Proceeds from secondary offering, net of underwriter discounts   91,776  
Deferred offering costs   (683)  
Dividends distributed (15,448) (13,948) (12,006)
Other 207 37 33
Net cash provided by (used in) financing activities 31,586 152,667 (24,722)
Effect of foreign exchange rates on cash, cash equivalents and restricted cash 1,472 224 438
Change in cash, cash equivalents and restricted cash 394 37,242 42,405
Cash, cash equivalents and restricted cash, beginning of period 124,933 87,691 45,286
Cash, cash equivalents and restricted cash, end of period 125,327 124,933 87,691
Supplemental Disclosure of Cash Flows Information:      
Cash paid for income taxes, net 24,920 24,207 8,729
Cash paid for interest 17,842 14,431 10,090
Supplemental Disclosure of Non-Cash Investing and Financing Activities:      
Accruals and accounts payable for capital expenditures $ 139 $ 176 $ 234

Source

10-K PDF
XBRL