v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Net income $ 17,184 $ 12,693
Adjustments to reconcile net income to net cash provided byoperating activities:    
Depreciation and amortization 4,634 2,999
Loss on disposal of property, plant & equipment 0 9
Share-based compensation 2,212 1,513
Change in fair value of contingent consideration 263 238
Equity method investment net earnings (41) 0
Deferred income taxes 1,443 591
Changes in operating assets and liabilities:    
Receivables, net (8,904) 3,120
Inventories (2,204) (3,751)
Prepaid expenses and other current assets (790) (752)
Other assets (2,334) 261
Accounts payable 5,284 1,428
Accrued expenses (1,922) (5,597)
Deferred revenue 124 (2,089)
Income taxes payable 1,801 1,401
Non-qualified deferred compensation plan and other liabilities (2,940) (1,410)
Net cash provided by operating activities 13,810 10,654
Cash flows from investing activities:    
Additions to property, plant, and equipment (2,817) (1,732)
Net cash used in investing activities (2,817) (1,732)
Cash flows from financing activities:    
Proceeds from advances on revolving line of credit 9,000 7,000
Payments on revolving line of credit (12,500) (3,000)
Principal payments of long-term debt (3,125) (2,000)
Payment of contingent consideration (250) 0
Principal payments on finance lease obligations (16) (20)
Proceeds from the exercise of stock options 107 54
Payment of statutory withholdings for restricted stock units vested (3,914) (4,751)
Net cash used in financing activities (10,698) (2,717)
Effect of foreign currency exchange rates on cash and cash equivalents 283 (96)
Net increase in cash and cash equivalents 578 6,109
Cash and cash equivalents at beginning of period 13,450 5,263
Cash and cash equivalents at end of period $ 14,028 $ 11,372