| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income (loss) | ||||||
10,382 | -18,667 | 8,678 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
2,145 | 2,522 | 876 | ||||
Loss on disposal of fixed assets | ||||||
0 | -22 | 0 | ||||
Bad debt expense | ||||||
725 | 1,298 | 1,083 | ||||
Equity-based compensation | ||||||
1,526 | 26,960 | 0 | ||||
Impacts of Tax Receivable Agreement | ||||||
11,676 | 1,702 | 0 | ||||
Deferred income taxes | ||||||
-11,382 | -1,732 | 0 | ||||
Changes in operating assets and liabilities: | ||||||
Receivable from franchisees | ||||||
5,161 | 1,637 | 1,077 | ||||
Commissions and agency fees receivable | ||||||
-2,474 | 1,258 | 907 | ||||
Prepaid expenses | ||||||
877 | 588 | 212 | ||||
Other assets | ||||||
346 | -435 | 471 | ||||
Accounts payable and accrued expenses | ||||||
913 | 1,210 | 1,330 | ||||
Deferred rent | ||||||
2,389 | 582 | 3,817 | ||||
Contract liabilities | ||||||
6,281 | - | 307 | ||||
Premiums payable | ||||||
547 | -42 | 118 | ||||
Unearned revenue | ||||||
-51 | -532 | - | ||||
Net cash provided by (used for) operating activities | ||||||
21,241 | 10,275 | 13,542 | ||||
Cash flows from investing activities: | ||||||
Changes in restricted cash | ||||||
- | - | 117 | ||||
Proceeds from member note receivable | ||||||
- | - | 135 | ||||
Proceeds from notes receivable | ||||||
19 | 22 | 299 | ||||
Purchase of software | ||||||
403 | 148 | 236 | ||||
Purchase of property and equipment | ||||||
3,694 | 2,096 | 6,216 | ||||
Net cash used for investing activities | ||||||
-4,078 | -2,222 | -6,135 | ||||
Cash flows from financing activities: | ||||||
Debt issuance costs | ||||||
0 | 639 | 342 | ||||
Repayment of note payable | ||||||
2,500 | 50,625 | 375 | ||||
Proceeds from notes payable | ||||||
0 | 50,000 | 20,000 | ||||
Proceeds from the issuance of Class A common stock | ||||||
325 | 86,915 | 0 | ||||
Member distributions and dividends | ||||||
18,739 | 80,059 | 25,520 | ||||
Net cash used for financing activities | ||||||
-20,914 | 5,592 | -6,237 | ||||
Net decrease in cash and restricted cash | ||||||
-3,751 | 13,645 | - | ||||
Net increase in cash and cash equivalents | ||||||
- | - | 1,170 | ||||
Supplemental disclosures of cash flow data: | ||||||
Non-cash management fee note repayment | ||||||
0 | 135 | 0 | ||||
Cash paid during the year for interest | ||||||
2,173 | 3,207 | 2,001 | ||||
Cash paid for income taxes | ||||||
1,175 | 300 | 0 | ||||