v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 2,586,100 $ 309,096
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 672,318 663,951
Depreciation and amortization 1,801,003 1,286,405
Noncash lease expense 109,168 103,383
Deferred income taxes, net 519,717 75,930
Changes in operating assets and liabilities:    
Accounts receivable (19,595,520) (19,248,415)
Other receivables 557,348 (27,221)
Prepaid expenses and other current assets (131,871) (339,937)
Accounts payable and accrued liabilities 14,584,756 9,615,064
Operating lease liability (99,567) (93,783)
Customer card funding (7,036,629) 15,900,026
Net cash (used in) provided by operating activities (6,033,177) 8,244,499
Cash flows from investing activities:    
Purchase of fixed assets (78,651) (51,459)
Capitalization of internally developed software (2,354,866) (2,099,022)
Purchase of intangible assets (10,338) (122,600)
Net assets acquired in business combination (2,000,000) 0
Net cash used in investing activities (4,443,855) (2,273,081)
Cash flows from financing activities:    
Repurchase of common stock (375,786) 0
Net cash used in financing activities (375,786) 0
Net change in cash and restricted cash (10,852,818) 5,971,418
Cash and restricted cash, beginning of period 122,343,186 109,351,013
Cash and restricted cash, end of period 111,490,368 115,322,431
Cash and restricted cash reconciliation:    
Cash 6,847,021 7,013,306
Restricted cash 104,643,347 108,309,125
Total cash and restricted cash 111,490,368 115,322,431
Supplemental cash flow information:    
Non-cash assets acquired in business combination 15,758,637 0
Non-cash liabilities incurred in business combination (9,808,637) 0
Cash paid for taxes $ 0 $ 1,600