v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Operating activities        
Net income $ 9,273 $ 7,095 $ (71,033) $ 37,720
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 5,267 4,751 19,772 18,234
Share-based compensation expense 3,968 5,945 131,490 (6,090)
Provision for losses on accounts receivable 896 1,395 6,370 5,070
Other (141) (26) 767 283
Changes in operating assets and liabilities:        
Accounts receivable (1,007) (9,542) (25,485) (14,296)
Inventories (2,881) (1,831) (1,151) 4,426
Other current assets (1,588) (2,211) (1,979) (4,688)
Accounts payable 1,874 7,187 13,230 6,295
Accrued compensation (3,953) (7,309) (2,967) 3,013
Other operating liabilities 5,842 3,200 (11,054) 20,852
Net cash provided by operating activities 17,550 8,654 57,960 70,819
Investing activities        
Purchases of property and equipment (5,805) (3,692) (16,368) (14,556)
Payment for acquisitions     (14,710) (985)
Other 260 94 671 2,100
Net cash used in investing activities (5,545) (3,598) (30,407) (13,441)
Financing activities        
Proceeds from equity offering, net of underwriter fees     119,784  
Payments of equity offering costs (1,534) 0 (4,157)  
Payments to Class B common stock stockholders     (55,176)  
Borrowings from notes payable     15,000  
Repayment of notes payable 0 (1,000) (38,000) (4,000)
Borrowings from line of credit 0 57,800 189,300 269,500
Repayments of line of credit 0 (50,800) (198,300) (264,500)
Principal payments on finance lease obligations (1,132) (1,103) (4,481) (3,893)
Deferred payments related to acquisitions     0 (325)
Contributions from non-controlling interests 135 278 2,758 889
Distributions to non-controlling interests (135) (3,679) (14,463) (16,482)
Member distributions 0 (7,130) (35,750) (38,422)
Other     (160) 0
Net cash used in financing activities (2,666) (5,634) (23,645) (57,233)
Net change in cash and cash equivalents 9,339 (578) 3,908 145
Cash and cash equivalents, beginning of period 4,660 752 752 607
Cash and cash equivalents, end of period 13,999 174 4,660 752
Supplemental disclosure of cash flow information        
Cash paid during the year for interest 175 757 3,121 2,783
Supplemental disclosure of non-cash investing and financing activities        
Purchases of property and equipment through finance leases $ 1,591 $ 610 3,529 5,873
Accrued and capitalized offering costs recorded to additional paid-in capital     8,866  
Non-cash equity contributions from non-controlling members     $ 5,604 $ 0