Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 3,397 $ (171)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation of property and equipment 3,149 2,810
Amortization of intangible assets 1,389 518
Impairment of property and equipment   25
Stock-based compensation 3,986 2,869
Change in fair value of contingent consideration (3,437)  
Provision for accounts receivable (74) (40)
Changes in operating assets and liabilities:    
Accounts receivable and contract asset (11,525) 5,609
Prepaid expenses and other assets (306) (1,241)
Accounts payable (160) 47
Accrued expenses and other current liabilities (301) (502)
Deferred revenue 3,662 (4,788)
Net cash (used in) provided by operating activities (220) 5,136
Cash flows from investing activities:    
Purchase of property and equipment (4,753) (3,573)
Investment in intangible and other assets (17) (32)
Business acquisition, net of cash acquired (4,618) 15
Net cash used in investing activities (9,388) (3,590)
Cash flows from financing activities:    
Payment of contingent consideration liability   (403)
Proceeds from exercise of stock options 15 577
Repurchases of common stock (3,084) (2,683)
Proceeds from exercise of warrants   8
Proceeds from employee stock purchase plan 489 462
Net cash used in financing activities (2,580) (2,039)
Decrease in cash, cash equivalents and restricted cash (12,188) (493)
Effect of exchange rate on cash and cash equivalents (22) 17
Cash, cash equivalents and restricted cash at beginning of year 15,636 16,043
Cash, cash equivalents and restricted cash at end of period 3,426 15,567
Supplemental disclosure of non-cash financing activities:    
Property and equipment purchases included in accounts payable 1,103 $ 498
Estimated fair value of contingent consideration 12,400  
Fair value of common stock issued as consideration for business acquisition $ 14,266