v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income $ 1,651 $ 7,989
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Share-based compensation 4,180 4,222
Depreciation and amortization 1,134 787
Amortization of debt issuance costs 206 214
Non-cash operating lease cost 400 327
Deferred income taxes 0 3,857
Other 149 37
Changes in operating assets & liabilities:    
Accounts receivable, net 649 177
Contract assets, net (14,381) (4,417)
Excess profit share receipts 2,820 0
Other current and non-current assets 30 (2,885)
Accounts payable (472) 524
Accrued expenses 2,787 191
Income tax receivable, net 47 843
Operating lease liabilities (384) (307)
Third-party claims administration liability (73) (1,982)
Other current and non-current liabilities (1,733) 22
Net cash provided by (used in) operating activities (2,990) 9,599
Cash flows from investing activities    
Purchase of property and equipment (56) (51)
Capitalized software development costs (778) (1,677)
Net cash used in investing activities (834) (1,728)
Cash flows from financing activities    
Payments on term loans (3,750) (938)
Shares repurchased (3,952) 0
Shares withheld for taxes related to restricted stock units (1,061) (1,137)
Net cash used in financing activities (8,763) (2,075)
Net change in cash and cash equivalents and restricted cash (12,587) 5,796
Cash and cash equivalents and restricted cash at the beginning of the period 253,924 246,669
Cash and cash equivalents and restricted cash at the end of the period 241,337 252,465
Supplemental disclosure of cash flow information:    
Interest paid 4,819 6,260
Income tax paid (refunded), net $ 89 $ (825)