v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 18,346 $ 22,847
Adjustments to reconcile net income from operations to net cash provided by operations:    
Depreciation and amortization of intangible assets 6,566 4,585
Write-off of assets 315 0
Loss on disposal of asset 0 26
Deferred tax (benefit) expense (214) 439
Stock-based compensation 5,318 6,227
Recovery of credit losses (282) (66)
Changes in operating assets and liabilities, net of the effects from acquisition:    
Accounts receivable, net 16,938 24,875
Inventories, net 715 700
Contract assets 3,109 (4,925)
Accounts payable 2,098 1,296
Income taxes payable (2,237) 1,109
Accrued expenses (10,156) (4,983)
Deferred compensation (27) (182)
Deferred revenue (12,164) (17,994)
Other assets and liabilities (256) 1,629
Net cash provided by operating activities 28,069 35,583
Cash flows from investing activities:    
Additions to property and equipment (6,297) (3,483)
Additions to intangible assets (123) (5)
Cash paid for acquisition of business, net of cash acquired (34,554) (12,052)
Net cash used in investing activities (40,974) (15,540)
Cash flows from financing activities:    
Dividends paid (9,834) (9,196)
Payment of debt issuance costs 0 (566)
Borrowings from credit facility 5,000 0
Tax payments for restricted stock issuances (1,244) (2,405)
Repurchase of common stock (8,297) 0
Net cash used in financing activities (14,375) (12,167)
Effect of exchange rate changes on cash 118 1,679
Net (decrease) increase in cash (27,162) 9,555
Cash, cash equivalents, and restricted cash, beginning of period 70,499 83,331
Cash, cash equivalents, and restricted cash, end of period $ 43,337 $ 92,886