| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | |||||||||
Cash flows from operating activities | |||||||||
Net income | |||||||||
13,246 | 17,549 | 5,848 | 6,882 | 6,882 | 5,347 | -428 | 8,298 | -1,749 | -281 |
Adjustments to reconcile net loss to net cash provided by operating activities: | |||||||||
Depreciation | |||||||||
830 | 746 | 592 | 486 | 486 | 338 | 181 | - | - | - |
Amortization | |||||||||
3,989 | 4,298 | 5,699 | 6,246 | 6,246 | 5,205 | 4,459 | - | - | - |
Depreciation and amortization | |||||||||
- | - | - | - | - | - | - | 4,894 | 4,469 | 2,750 |
Loss on disposal of property and equipment | |||||||||
-30 | -17 | -17 | -10 | -10 | -1 | 3 | 0 | -12 | -7 |
Gain (Loss) on Extinguishment of Debt | |||||||||
-540 | 0 | 0 | -404 | -404 | -438 | 0 | 0 | 0 | 2,587 |
Loss on extinguishment of related party debt | |||||||||
- | - | - | - | - | - | -986 | - | - | - |
Contingent consideration adjustment | |||||||||
0 | 3,775 | 225 | 167 | 167 | -1,001 | 666 | 0 | - | - |
Amortization of deferred financing fees | |||||||||
173 | 453 | 251 | 104 | 104 | 166 | 173 | 240 | 90 | 385 |
Amortization of debt discounts | |||||||||
- | - | - | 43 | 43 | 43 | 88 | 357 | 0 | 0 |
Interest expense on earn out payable | |||||||||
100 | 600 | 1,208 | 1,839 | 1,839 | 697 | 212 | 757 | - | - |
Paid-in-kind interest | |||||||||
- | - | - | 0 | - | 166 | 0 | - | - | - |
Put option adjustment | |||||||||
- | - | - | 0 | - | -176 | 1,184 | 235 | 0 | 0 |
Provision for credit losses | |||||||||
128 | 40 | 760 | 389 | 389 | 371 | 444 | 480 | 63 | 83 |
Stock-based compensation | |||||||||
952 | 1,069 | 447 | 313 | 313 | 352 | 1,193 | 0 | - | - |
Deferred income taxes | |||||||||
799 | 1,531 | 3,109 | -1,100 | -1,100 | -717 | -129 | -7,681 | -23 | 38 |
Net changes in operating assets and liabilities, net of effects of acquisitions: | |||||||||
Accounts receivable | |||||||||
1,758 | 939 | -1,434 | 1,393 | 1,393 | 4,191 | -266 | 8,028 | -308 | 291 |
Prepaid expenses | |||||||||
726 | 36 | -102 | 89 | 89 | 113 | -127 | 196 | 440 | -69 |
Other current assets | |||||||||
-3 | -120 | -27 | 20 | 20 | -112 | 156 | 377 | - | - |
Deposits | |||||||||
-475 | -302 | -245 | -424 | -424 | -345 | -653 | -224 | -63 | 86 |
Accrued interest | |||||||||
-235 | -22 | 229 | -296 | -296 | 246 | -110 | 18 | 1 | 39 |
Accrued interest related party | |||||||||
- | - | - | - | - | - | - | 637 | 675 | 1,367 |
Accounts payable | |||||||||
675 | -1,763 | -555 | -620 | -620 | 185 | -818 | -313 | -1,560 | -678 |
Accrued expenses | |||||||||
-82 | -1,129 | 284 | -1,927 | -1,927 | 2,981 | -919 | 3,160 | 756 | 1,701 |
Accrued payroll | |||||||||
- | - | - | - | - | - | - | -159 | -187 | -559 |
Accrued workers’ compensation | |||||||||
-125 | -61 | -162 | -34 | -34 | -564 | 211 | 97 | 321 | -82 |
Contingent consideration | |||||||||
- | - | - | - | - | - | - | - | 194 | -176 |
Other current liabilities | |||||||||
16 | -87 | -299 | -945 | -945 | -191 | 185 | -59 | 119 | 0 |
Income taxes receivable and payable | |||||||||
-125 | 246 | -384 | -110 | -110 | 444 | -148 | 145 | 30 | 0 |
Operating leases | |||||||||
27 | 0 | 0 | - | - | - | - | - | - | - |
Other long-term liabilities | |||||||||
0 | -154 | -76 | -55 | -55 | -8 | 0 | - | - | - |
Net cash provided by operating activities | |||||||||
17,953 | 18,426 | 18,063 | 9,533 | 9,533 | 11,791 | 5,681 | 2,281 | 3,018 | 1,871 |
Cash flows from investing activities | |||||||||
Business acquired, net of cash received | |||||||||
7,500 | 0 | 24,500 | 0 | 0 | 18,781 | 0 | 9,550 | 10,600 | 7,000 |
Capital expenditures | |||||||||
2,229 | 923 | 1,145 | 938 | 938 | 563 | 327 | 221 | 121 | 41 |
Proceeds from sale of property and equipment | |||||||||
0 | 0 | 2 | 7 | 7 | 1 | 5 | 0 | 8 | 0 |
Net cash used in investing activities | |||||||||
-9,729 | -923 | -25,643 | -931 | -931 | -19,343 | -322 | -9,772 | -11,107 | -7,386 |
Cash flows from financing activities | |||||||||
Net borrowings (payments) under line of credit | |||||||||
9,694 | -10,717 | -2,514 | 7,665 | 7,665 | 11,317 | -9,521 | 7,100 | 3,000 | 300 |
Proceeds from issuance of long-term debt | |||||||||
7,500 | 0 | 25,000 | 0 | 0 | 15,000 | 0 | - | - | - |
Proceeds from issuance of long-term debt | |||||||||
- | - | - | - | - | - | - | 6,000 | 2,500 | 2,026 |
Principal payments on long-term debt | |||||||||
10,121 | 13,766 | 1,112 | 15,281 | 15,281 | 17,187 | 2,260 | 2,896 | 1,365 | 1,076 |
Payments on other current liabilities | |||||||||
- | - | - | 500 | 500 | 536 | 1,000 | 0 | - | - |
Payments of dividends | |||||||||
12,282 | 10,921 | 8,735 | 8,030 | 8,030 | 6,492 | 0 | - | - | - |
Capital contributions from Parent | |||||||||
- | - | - | - | - | - | - | - | 4,084 | 4,549 |
Issuance of shares under the 2013 Long-Term Incentive Plan and Form S-3 registration statement, net of exercises | |||||||||
38 | 22,205 | 86 | 15,254 | 15,254 | 7,047 | 8,492 | 0 | 0 | 0 |
Share-based Payment Arrangement, Cash Used to Settle Award | |||||||||
0 | -3,335 | 0 | - | 0 | - | - | - | - | - |
Long Term Debt Contingent Payment | |||||||||
2,700 | 1,000 | 4,024 | 7,556 | 7,556 | 869 | 1,017 | 1,066 | 394 | 345 |
Other | |||||||||
- | - | - | - | - | - | 6 | 1,321 | 4 | 0 |
Deferred financing costs | |||||||||
382 | 3 | 1,119 | 153 | 153 | 727 | 44 | 325 | 126 | 285 |
Net cash provided by (used in) financing activities | |||||||||
-8,224 | -17,502 | 7,579 | -8,602 | -8,602 | 7,551 | -5,358 | 7,490 | 8,088 | 5,515 |
Net change in cash and cash equivalents | |||||||||
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Supplemental cash flow information: | |||||||||
Cash paid for interest | |||||||||
1,350 | 1,764 | 1,447 | - | - | - | - | - | - | - |
Cash paid for interest | |||||||||
- | - | - | 2,440 | 2,440 | 1,463 | 2,337 | 1,925 | 1,120 | 904 |
Cash paid for taxes, net of refunds | |||||||||
3,563 | 2,012 | 5,909 | 5,500 | 5,500 | 3,639 | 1,647 | 66 | 24 | 17 |
Proceeds from issuance of long-term debt | |||||||||
7,500 | 0 | 25,000 | 0 | 0 | 15,000 | - | - | - | - |
Non-cash transactions: | |||||||||
Prepaid offering costs | |||||||||
- | - | - | - | - | - | 227 | 557 | 0 | 0 |
Contingent consideration paid through relief of accounts receivable | |||||||||
- | - | - | - | - | - | 596 | 1,253 | 0 | 0 |
Dividend declared | |||||||||
- | - | - | - | - | - | 989 | 0 | - | - |
Goodwill adjustment | |||||||||
- | - | - | - | - | - | 550 | 0 | - | - |
Retirement of put options | |||||||||
- | - | - | 0 | - | 2,320 | 0 | 1,312 | 0 | 0 |
Leasehold improvements funded by landlord incentives | |||||||||
0 | 366 | 255 | 0 | 0 | 321 | 0 | - | - | - |
Notes payable exchanged for equity units of Parent | |||||||||
- | - | - | - | - | - | - | - | 0 | 3,958 |
Accrued interest exchanged for equity units of Parent | |||||||||
- | - | - | - | - | - | - | - | 0 | 1,083 |
Equity units of Parent issued in acquisition of business | |||||||||
- | - | - | - | - | - | - | - | 500 | 0 |