| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
19,609 | -7,244 | -10,174 | - | |||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
12,689 | 15,671 | 16,645 | - | |||
Share-based compensation | ||||||
2,609 | 5,826 | 1,846 | - | |||
Provision for bad debts | ||||||
1,626 | 1,236 | 1,401 | - | |||
Debt origination costs amortization | ||||||
700 | 4,400 | 300 | - | |||
Deferred income tax provision (benefit), net | ||||||
1,863 | 191 | 370 | - | |||
Debt extinguishment costs | ||||||
0 | 1,843 | 0 | - | |||
Loss on disposal of property and equipment | ||||||
-265 | -216 | -128 | - | |||
Total adjustments | ||||||
19,786 | 29,431 | 20,725 | - | |||
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
5,655 | -14,337 | 29,173 | - | |||
Prepaid wires | ||||||
-8,805 | 19,000 | 4,144 | - | |||
Prepaid expenses and other assets | ||||||
659 | 2,080 | 1,011 | - | |||
Wire transfers and money orders payables | ||||||
3,416 | -11,899 | 27,638 | - | |||
Accounts payable and accrued other liabilities | ||||||
7,232 | 16,293 | 3,556 | - | |||
Net cash provided by operating activities | ||||||
52,534 | 19,838 | 7,417 | - | |||
Cash flows from investing activities: | ||||||
Purchases of property and equipment | ||||||
6,469 | 5,331 | 4,351 | - | |||
Acquisition of agent locations | ||||||
0 | 0 | 924 | - | |||
Acquisition of agent locations | ||||||
250 | 120 | 0 | - | |||
Net cash used in investing activities | ||||||
-6,719 | -5,451 | -5,275 | - | |||
Cash flows from financing activities: | ||||||
Borrowings under term loan | ||||||
12,000 | 90,000 | 102,000 | - | |||
Repayments under revolving loan, net | ||||||
-30,000 | 10,000 | 12,000 | - | |||
Repayments of term loan | ||||||
4,956 | 95,788 | 76,212 | - | |||
Debt origination costs | ||||||
240 | 3,487 | 4,683 | - | |||
Debt extinguishment costs | ||||||
0 | 1,843 | 0 | - | |||
Proceeds from reverse recapitalization | ||||||
- | 101,664 | 0 | - | |||
Cash consideration to Intermex shareholders | ||||||
- | 101,659 | 0 | - | |||
Cash paid in warrant exchange | ||||||
10,031 | 0 | 0 | - | |||
Proceeds from exercise of options | ||||||
283 | 0 | 0 | - | |||
Common dividend distributions | ||||||
0 | 0 | 20,178 | - | |||
Net cash used in financing activities | ||||||
-32,944 | -1,113 | 12,927 | - | |||
Effect of exchange rate changes on cash | ||||||
217 | -40 | 98 | - | |||
Net increase in cash | ||||||
13,088 | 13,234 | 15,167 | - | |||
Supplemental disclosure of cash flow information: | ||||||
Cash paid for interest | ||||||
8,768 | 10,703 | 11,687 | - | |||
Cash paid for income taxes | ||||||
4,870 | 1,495 | 400 | - | |||
Supplemental disclosure of non-cash investing activity: | ||||||
Agent business acquired in exchange for receivables | ||||||
85 | 0 | 640 | - | |||
Supplemental disclosure of non-cash financing activity: | ||||||
Issuance of common stock for cashless exercise of options | ||||||
21 | 0 | 0 | - | |||
Intermex transaction accruals settled by acquisition proceeds | ||||||
0 | 9,062 | 0 | - | |||
Net assets acquired in the Merger | ||||||
0 | 922 | 0 | - | |||
Predecessor Company [Member] | ||||||
Net income (loss) | ||||||
- | - | - | 9,400 | |||
Depreciation and amortization | ||||||
- | - | - | 2,530 | |||
Share-based compensation | ||||||
- | - | - | 63 | |||
Provision for bad debt | ||||||
- | - | - | 909 | |||
Debt origination costs amortization | ||||||
- | - | - | 2,671 | |||
Deferred taxes | ||||||
- | - | - | 3,719 | |||
The amount of expense attributable to debt extinguishment costs. | ||||||
- | - | - | 0 | |||
Loss on disposals of property and equipment | ||||||
- | - | - | -173 | |||
Total adjustments | ||||||
- | - | - | 10,065 | |||
Accounts receivable | ||||||
- | - | - | 15,866 | |||
Prepaid wires | ||||||
- | - | - | -777 | |||
Other prepaid expenses and assets | ||||||
- | - | - | 302 | |||
The increase (decrease) during the reporting period in the amount due from customers in wire transfer and money order payables. | ||||||
- | - | - | 13,759 | |||
Accounts payable and accrued other | ||||||
- | - | - | 4,563 | |||
Net cash provided by operating activities | ||||||
- | - | - | 22,396 | |||
Purchases of property and equipment | ||||||
- | - | - | 3,012 | |||
Net cash used in acquisition | ||||||
- | - | - | 0 | |||
The cash outflow associated with the acquisition of a agent locations. | ||||||
- | - | - | 0 | |||
Net cash used in investing activities | ||||||
- | - | - | -3,012 | |||
Borrowings under term loan | ||||||
- | - | - | 40,332 | |||
Borrowings (repayments) under revolving loan, net | ||||||
- | - | - | -2,000 | |||
Repayment of term loan | ||||||
- | - | - | 1,287 | |||
Debt origination costs | ||||||
- | - | - | 2,316 | |||
Debt extinguishment costs | ||||||
- | - | - | 0 | |||
The amount of cash inflow from reverse recapitalization during the period. | ||||||
- | - | - | 0 | |||
The amount of cash outflow to effect a merger accounted for as a reverse recapitalization during the period. | ||||||
- | - | - | 0 | |||
Common dividend distributions | ||||||
- | - | - | 1,287 | |||
Purchase of common stock | ||||||
- | - | - | 34,000 | |||
Net cash (used in) provided by financing activities | ||||||
- | - | - | -558 | |||
Effect of exchange rate changes on cash | ||||||
- | - | - | -150 | |||
Net increase in cash and restricted cash | ||||||
- | - | - | 18,676 | |||
Interest payments | ||||||
- | - | - | 6,765 | |||
Income tax payments | ||||||
- | - | - | 155 | |||
Amount paid to acquire business in exchange for receivables. | ||||||
- | - | - | 343 | |||
The amount of transaction accruals settled by acquisition proceeds in noncash financing activities. | ||||||
- | - | - | 0 | |||
Net assets acquired in the Merger | ||||||
- | - | - | 0 | |||