v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 12,195,455 $ 3,973,861
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 2,536,259 1,626,718
Depreciation and amortization 4,975,985 3,921,100
Noncash lease expense 416,029 219,837
Change in fair value of contingent consideration (990,000) 0
Deferred income taxes, net 359,127 674,512
Changes in operating assets and liabilities:    
Accounts receivable (30,975,966) (8,691,128)
Other receivables 581,301 554,107
Prepaid expenses and other current assets (1,076,944) (164,323)
Accounts payable and accrued liabilities 27,369,982 5,276,312
Operating lease liability (315,097) (206,354)
Customer card funding 5,004,943 (9,576,918)
Net cash provided by (used in) operating activities 20,081,074 (2,392,276)
Cash flows from investing activities:    
Purchase of fixed assets (369,687) (164,913)
Capitalization of internally developed software (2,741,174) (4,067,947)
Purchase of intangible assets (407,246) (20,675)
Net assets acquired in business combination 0 (2,000,000)
Net cash used in investing activities (3,518,107) (6,253,535)
Cash flows from financing activities:    
Proceeds from exercise of options 125,400 591,534
Payments on other liability (2,000,000) 0
Repurchase of shares for tax withholding (3,190,539) 0
Repurchase of common stock 0 (375,786)
Net cash (used in) provided by financing activities (5,065,139) 215,748
Net change in cash and restricted cash 11,497,828 (8,430,063)
Cash and restricted cash, beginning of period 164,984,711 122,343,186
Cash and restricted cash, end of period 176,482,539 113,913,123
Cash and restricted cash reconciliation:    
Cash 27,372,858 11,753,184
Restricted cash 149,109,681 102,159,939
Total cash and restricted cash 176,482,539 113,913,123
Supplemental cash flow information:    
Non-cash assets acquired in business combination 0 13,558,637
Non-cash liabilities incurred in business combination 0 (7,608,637)
Common stock issued in business combination 0 (5,950,000)
Cash paid for taxes $ 1,979,355 $ 379,491