v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income $ 7,300 $ 19,082
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 249 307
Depreciation 1,443 975
Noncash lease expense 1,439 1,684
Stock-based compensation expense 424 153
Amortization of financing fees 151 165
Deferred income taxes 1,134 0
Provision (credit) for losses in accounts receivable 432 (37)
Increase in allowance for inventory obsolescence, net 405 206
Other adjustments, net 111 33
Changes in operating assets and liabilities, net of effects of business combinations:    
Accounts receivable 17,137 (12,619)
Inventories 339 (19,294)
Prepaid expenses 207 33
Contract assets 4,398 4,077
Other assets (133) 1,571
Accounts payable (4,316) 7,014
Income taxes receivable 1,094 986
Accrued expenses and other current liabilities (10,434) 9,272
Other noncurrent liabilities (2,250) (4,797)
Net cash provided by operating activities 19,130 8,811
Cash flows from investing activities    
Capital expenditures (1,890) (3,403)
Business acquisition (11,911) 0
Net cash used in investing activities (13,801) (3,403)
Cash from financing activities    
Repayment of long-term debt and lease liabilities (180) (98)
Repayment of short-term financings 0 (10,000)
Repurchases to settle tax withholding obligations for stock-based compensation awards (556) (142)
Other financing activities, net (4) 0
Net cash used in financing activities (740) (10,240)
Net increase (decrease) in cash, cash equivalents, and restricted cash 4,589 (4,832)
Cash, cash equivalents, and restricted cash at beginning of the period 44,948 58,491
Cash, cash equivalents, and restricted cash at end of the period 49,537 53,659
Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheets    
Cash and cash equivalents 45,089 50,021
Restricted cash 4,448 3,638
Total cash, cash equivalents, and restricted cash $ 49,537 $ 53,659