| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 | Dec'15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities | |||||||||||||
Net (loss) income | |||||||||||||
-5,732 | -6,288 | 15,548 | 11,415 | 7,145 | 15,518 | 7,551 | -244 | 2,237 | 7,887 | 8,264 | -4,538 | -5,627 | -15,561 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||||||||||||
Depreciation, amortization and other | |||||||||||||
11,937 | 12,264 | 11,200 | 10,867 | 10,187 | 10,204 | 9,961 | 9,650 | 9,301 | 9,220 | 8,433 | 7,588 | 6,734 | 3,370 |
Equity-based compensation | |||||||||||||
2,413 | 3,214 | 3,715 | 3,367 | 2,748 | 3,390 | 3,607 | 1,171 | 972 | 1,246 | 583 | 2,973 | 772 | 4,484 |
Contingent consideration | |||||||||||||
- | - | - | - | - | - | - | - | - | - | 22 | 0 | 8 | 1,540 |
Accretion of discount on long-term debt | |||||||||||||
- | - | - | - | - | 983 | -306 | 371 | 366 | 606 | 1,078 | 1,146 | 1,057 | 164 |
Amortization of debt issuance costs and debt discounts | |||||||||||||
317 | 62 | 66 | -224 | 354 | -398 | 816 | 141 | 150 | 156 | 156 | 121 | 101 | 253 |
Foreign currency gain (loss) | |||||||||||||
- | - | - | - | - | - | -2,812 | -1,335 | 1,464 | - | - | - | - | - |
Other | |||||||||||||
-851 | - | - | - | 451 | - | - | - | - | - | - | - | - | - |
Changes in operating assets and liabilities: | |||||||||||||
Accounts receivable, net | |||||||||||||
-43,760 | -15,674 | 34,000 | 17,095 | -31,452 | 22,375 | 31,438 | 10,571 | -28,245 | 16,115 | 17,641 | 12,668 | -17,951 | -6,111 |
Inventory | |||||||||||||
-7,312 | -34,131 | 20,101 | 320 | -11,662 | 4,636 | 18,766 | -7,968 | -6,548 | 48 | 20,921 | 2,682 | -6,445 | -10,239 |
Prepaid expenses and other assets | |||||||||||||
-6,437 | 7,351 | -1,718 | -3,647 | 3,838 | -12,345 | 6,804 | -6,090 | 2,895 | -1,195 | -190 | 14,110 | -2,988 | -52 |
Accounts payable | |||||||||||||
-12,923 | -19,681 | 27,705 | 9,490 | -12,885 | 3,859 | 12,754 | -3,933 | -29,055 | 4,287 | 6,071 | 13,051 | -4,411 | -1,858 |
Income taxes payable | |||||||||||||
-491 | -96 | -85 | -4,370 | 933 | 2,093 | 316 | -655 | 423 | - | - | - | - | - |
Accrued royalties | |||||||||||||
-14,209 | -3,163 | 7,961 | 1,466 | -10,667 | 7,504 | 12,166 | 972 | -7,147 | 167 | 9,139 | 2,359 | -9,015 | 7,956 |
Accrued expenses and other liabilities | |||||||||||||
-2,720 | 160 | 1,772 | 1,050 | -9,338 | -4,793 | 6,299 | 391 | 1,774 | -1,857 | -684 | -4,570 | 10,077 | -2,640 |
Net cash provided by operating activities | |||||||||||||
36,952 | 27,779 | 15,032 | 20,652 | 27,302 | 28,583 | -733 | 12,686 | 9,455 | 13,397 | -5,310 | -11,330 | 27,080 | 14,110 |
Purchases of property and equipment | |||||||||||||
4,961 | 15,109 | 15,425 | 8,117 | 3,613 | 5,996 | 6,753 | 8,251 | 5,866 | 7,284 | 7,957 | 9,554 | 8,767 | 2,942 |
Acquisitions of businesses and related intangible assets, net of cash | |||||||||||||
0 | - | 0 | 0 | 6,369 | - | - | - | - | - | - | - | - | - |
Acquisitions, net of cash | |||||||||||||
- | - | - | - | - | - | - | - | 635 | 3,210 | 0 | 15,889 | 12,554 | 241,479 |
Net cash used in investing activities | |||||||||||||
-4,961 | -15,109 | -15,425 | -8,117 | -9,982 | -5,996 | -6,753 | -8,251 | -6,501 | -10,494 | -7,957 | -25,443 | -21,321 | -244,421 |
Borrowings on line of credit | |||||||||||||
28,267 | 19,540 | 0 | 0 | 22,543 | 64,537 | 90,282 | 67,119 | 94,452 | 43,206 | 17,589 | 40,601 | 51,987 | 11,513 |
Payments on line of credit | |||||||||||||
25,281 | 13,000 | 0 | 3,383 | 20,000 | 99,436 | 77,706 | 58,336 | 71,713 | 94,055 | 6,994 | 18,006 | 30,256 | 38,270 |
Repayment of related-party note | |||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | 2,500 |
Debt issuance costs | |||||||||||||
0 | 0 | 139 | 0 | 272 | - | - | - | - | - | - | - | - | 1,520 |
Proceeds from long-term debt, net | |||||||||||||
- | - | - | - | - | - | - | - | - | - | 0 | 19,200 | 47,136 | 169,682 |
Payments of long-term debt | |||||||||||||
2,938 | - | 2,938 | 2,937 | 2,938 | - | 2,350 | 2,350 | 15,350 | - | 2,350 | 3,150 | 4,150 | 20,000 |
Contributions from members | |||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | 125,551 |
Distributions to continuing equity owners | |||||||||||||
2,675 | 1,018 | 4,784 | 10,069 | 8,052 | 0 | 1,556 | 8,028 | 10,857 | 0 | 0 | 0 | 72,777 | - |
Payments under tax receivable agreement | |||||||||||||
166 | - | - | - | 0 | - | - | - | - | - | - | - | - | - |
Proceeds from exercise of equity-based options | |||||||||||||
41 | 7 | 823 | 238 | 1,149 | - | - | - | - | - | - | - | - | - |
Net cash used in financing activities | |||||||||||||
-2,752 | 2,419 | -7,038 | -16,151 | -7,570 | -18,653 | 8,670 | -1,595 | -3,468 | -2,860 | 8,245 | 45,687 | -8,060 | 244,456 |
Effect of exchange rates on cash and cash equivalents | |||||||||||||
945 | -3,352 | 1,438 | 555 | -690 | -1,024 | -1,500 | 1,602 | -764 | 23 | -68 | -14 | -8 | - |
Net increase in cash and cash equivalents | |||||||||||||
30,184 | 11,737 | -5,993 | -3,061 | 9,060 | 2,910 | -316 | 4,442 | -1,278 | 66 | -5,090 | 8,900 | -2,309 | 14,145 |
Supplemental Cash Flow Information | |||||||||||||
Cash paid for interest | |||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | 1,496 |
Accrual for purchases of property and equipment | |||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | 1,377 |
Reimbursement (issuance) of management recourse loans | |||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | -915 |