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 $ 6,014 $ 3,671
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 1,634 1,634
Amortization of intangible assets 470 636
Deferred tax (benefit) expense from stock issuances 2 84
Amortization of deferred financing costs 111 111
Stock-based compensation 3,933 4,424
Change in fair value of contingent consideration 11 20
Provisions for credit losses 4,351 79
Deferred tax provision (benefit) 1,407 763
Changes in operating assets and liabilities:    
Accounts receivable and contract assets (5,860) (2,044)
Prepaid expenses and other assets 1,353 4,681
Accounts payable (177) (1,848)
Contract liabilities (1,910) (314)
Accrued expenses and other liabilities (6,804) 999
Net cash provided by operating activities 4,535 12,896
Cash flows from investing activities    
Purchase of furniture, fixtures and equipment (1,354) (1,679)
Net cash used in investing activities (1,354) (1,679)
Cash flows from financing activities    
Proceeds from revolving facility (Note 10) 20,000 5,000
Repayment of outstanding debt (Note 10) (20,000) (5,000)
Additional proceeds from the sale of the Automation business   1,954
Proceeds from issuance of employee stock purchase plan shares 330 310
Payments related to tax withholding for stock-based compensation (2,257) (2,588)
Payment of contingent consideration   (550)
Cash dividends paid to shareholders (4,533) (4,608)
Treasury shares repurchased (1,316) (4,725)
Net cash used in financing activities (7,776) (10,207)
Effect of exchange rate changes on cash (388) 1,147
Net (decrease) increase in cash, cash equivalents, and restricted cash (4,983) 2,157
Cash, cash equivalents, and restricted cash, beginning of period 28,754 23,158
Cash, cash equivalents, and restricted cash, end of period 23,771 25,315
Supplemental disclosures of cash flow information:    
Interest 1,665 2,027
Taxes, net of refunds 1,975 116
Non-cash investing and financing activities:    
Issuance of treasury stock for vested RSUs $ 5,632 $ 5,311