v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (91,779) $ (8,758)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization expense 5,764 5,432
Amortization of debt issuance costs 1,570 429
Equity-based compensation expense 11,160 86
Goodwill impairment 35,252 0
Provision for doubtful accounts 55 0
Deferred income tax benefit (1,450) (3,341)
Net decrease in fair value of derivatives (1,564) 0
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable (2,359) 163
Increase in contract assets (297) (288)
Decrease (increase) in prepaid expenses and other assets 3,549 (5,829)
Increase in accounts payable 1,946 6,737
(Decrease) increase in accrued liabilities (993) 4,733
(Decrease) increase in contract liabilities (1,004) 1,595
Increase in other liabilities 1,760 263
Net cash (used in) provided by operating activities (38,390) 1,222
Cash flows from investing activities:    
Acquisition of businesses, net of cash acquired (4,465) (224)
Purchases of property and equipment (736) (601)
Net cash used in investing activities (5,201) (825)
Cash flows from financing activities:    
Repurchase of shares as a result of forward share purchase agreements (100,896) 0
Repayment of short-term borrowings (3,464) 0
Payments for taxes related to net share settlement of equity awards (15) 0
Repayment of term loan 0 (825)
Proceeds from promissory notes 0 1,500
Net cash (used in) provided by financing activities (104,375) 675
Net (decrease) increase in cash and cash equivalents and restricted cash (147,966) 1,072
Cash and cash equivalents and restricted cash at the beginning of period 169,921 9,704
Cash and cash equivalents and restricted cash at the end of the period 21,955 10,776
Supplemental schedule of non-cash investing and financing activities:    
Issuance of common stock as consideration for the acquisition of ProModel Corporation 7,501 0
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents 21,955  
Restricted cash 0  
Cash and cash equivalents and restricted cash at end of the period $ 21,955 $ 10,776

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