v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 625 $ (2,398)
Adjustments to reconcile income (loss) to net cash provided by operations:    
Depreciation and amortization 7,073 5,972
Amortization of operating lease assets 444 374
Amortization of debt financing costs and discount 327 253
Non-cash interest expense 1,421 197
Net accretion of discounts on available-for-sale securities (60) (110)
Provision for expected losses 9 93
Provision for deferred income taxes 143 291
Net realized gains on sales of available-for-sale securities (902) (656)
Share-based compensation 2,150 1,863
Changes in operating assets and liabilities:    
Accounts receivable 2,384 2,261
Inventory 179 (24)
Prepaid expenses and other assets (4,189) (1,049)
Accounts payable (172) 903
Accrued expenses and other long-term obligations (1,327) (1,737)
Lease liabilities (483) (427)
Deferred revenue (4,913) (3,810)
Net cash provided by operating activities 2,709 1,996
Cash flows from investing activities:    
Acquisition of intangible asset (4,721) (6,346)
Purchases of property and equipment (218) (192)
Software capitalization costs (3,236) (2,769)
Purchases of available-for-sale securities (4,051) (6,589)
Proceeds from sales and maturities of available-for-sale securities 6,847 3,266
Net cash used in investing activities (5,379) (12,630)
Cash flows from financing activities:    
Payments of finance lease principal (15) 0
Payments made on amounts due for the acquisition of intangible assets (31) (723)
Net proceeds from (settlements for) common stock transactions (305) 441
Net change in client fund obligations (11,177) 64,207
Net cash provided by (used in) financing activities (11,528) 63,925
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents (14,198) 53,291
Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period 164,703 145,712
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period 150,505 199,003
Cash and cash equivalents 19,221 14,076
Restricted cash and cash equivalents held to satisfy client funds obligations 131,284 184,927
Total cash, cash equivalents, restricted cash, and restricted cash equivalents 150,505 199,003
Supplemental information:    
Cash paid for interest 1,350 125
Acquisition of intangible assets 167 750
Notes payable issued for acquisitions 879 1,150
Other Significant Noncash Transaction, Value of Consideration Given $ 445 $ 0