v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 51,272 $ 35,291 $ 45,603
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of property and equipment 52,725 43,978 37,906
Amortization of intangible assets and route and customer acquisition costs 25,425 22,577 21,211
Impairment of intangible assets 0 846 0
Amortization of debt issuance costs 1,416 1,788 1,808
Stock-based compensation expense 12,205 12,204 9,416
Loss on change in fair value of contingent earnout shares 573 1,276 8,539
Loss (gain) on disposal of property and equipment 1,123 606 (10)
Loss on write-off of route and customer acquisition costs and route and customer acquisition costs payable 1,412 1,148 935
Loss on debt extinguishment 1,090 0 0
Remeasurement of contingent consideration 2,755 6,486 (522)
Payments on consideration payable (1,432) (2,804) (4,795)
Accretion of interest on route and customer acquisition costs payable, contingent consideration, and contingent stock consideration 2,342 1,640 1,480
Deferred income taxes 13,342 (2,388) 7,346
Changes in operating assets and liabilities, net of acquisition of businesses:      
Prepaid expenses and other current assets 2,213 (788) (987)
Accounts receivable, net (3,648) 5,011 (2,301)
Inventories (57) (343) (734)
Income tax receivable (7,489) (1,357) 264
Route and customer acquisition costs (11,858) (7,522) (3,448)
Route and customer acquisition costs payable 2,934 2,451 (441)
Accounts payable and accrued expenses 5,093 (1,239) 15,466
Accrued compensation and related expenses (2,171) (531) 2,041
Other assets 1,610 2,864 (6,247)
Net cash provided by operating activities 150,875 121,194 132,530
Cash flows from investing activities:      
Purchases of property and equipment (88,923) (66,542) (81,744)
Proceeds from the sale of property and equipment 1,625 984 1,681
Proceeds from the settlement of convertible notes 1,500 0 32,065
Deposits against a portion of the purchase price on a pending business acquisition 0 0 (4,600)
Acquisition of indefinite-lived operating license (9,450) 0 0
Investment in unconsolidated affiliate 0 (5,000) 0
Business and asset acquisitions, net of cash acquired (5,306) (53,592) (7,195)
Net cash used in investing activities (100,554) (124,151) (59,793)
Cash flows from financing activities:      
Proceeds from debt 682,000 175,000 169,000
Payments on debt (667,375) (123,000) (169,000)
Payments for debt issuance costs (4,098) 0 (300)
Payments for repurchase of common shares (39,862) (25,495) (30,072)
Payments on interest rate caplets (993) (985) (965)
Proceeds from exercise of stock-based awards 0 289 375
Payments on consideration payable (1,285) (588) (3,178)
Payments on finance leases (245) (221) (17)
Tax withholding on stock-based payments (3,202) (2,349) (1,082)
Net cash (used in) provided by financing activities (35,060) 22,651 (35,239)
Net increase in cash and cash equivalents 15,261 19,694 37,498
Cash and cash equivalents:      
Beginning of year 281,305 261,611 224,113
End of year 296,566 281,305 261,611
Cash payments for:      
Interest, net 31,602 32,767 30,248
Income taxes, net 15,541 22,306 11,741
Supplemental schedules of noncash investing and financing activities:      
Purchases of property and equipment in accounts payable and accrued liabilities 17,388 13,446 14,923
Purchases of equipment financed through vendor 4,775 577 0
Deferred premium on interest rate caplets 83 1,076 2,059
Fair value of treasury stock (canceled) issued in a business combination (2,007) 40,472 0
Acquisition of businesses and assets:      
Total identifiable net assets acquired 5,306 110,472 7,195
Less cash acquired 0 (5,872) 0
Less contingent consideration 0 (5,935) 0
Less fair value of treasury stock issued 0 (40,472) 0
Less advances on purchase price paid in prior period 0 (4,600) 0
Cash purchase price $ 5,306 $ 53,592 $ 7,195