Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:        
Net loss $ (46,259) $ (25,382)    
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:        
Depreciation and amortization 12,296 10,670    
Provision for credit losses (15) 472    
Stock-based compensation expense 6,614 9,562    
Gain on sale of energy group (2,572)      
Change in fair value of contingent consideration 651 (8,785)    
Change in deferred taxes (1,828) (1,940)    
Amortization of debt issuance costs 432 599    
Amortization of right-of-use assets 649 531    
Imputed non-cash interest (income) expense (65) 65    
Changes in assets and liabilities:        
Accounts receivable 16,308 35,545    
Expenditures billable to clients 70 9,205    
Prepaid expenses and other assets (3,501) (1,546)    
Other assets (1,613) (4,950)    
Accounts payable (7,286) (16,522)    
Deferred revenue 8 (295)    
Accrued media payments (34,592) (5,988)    
Client advances (2,264) 1,711    
Other accrued liabilities 6,652 (4,278)    
Other liabilities (2,218) (2,959)    
Net cash used in operating activities (58,533) (4,285) $ 3,737 $ 7,234
Cash flows from investing activities:        
Minority investment   (2,000)    
Proceeds from divestiture 504      
Capital expenditures (2,697) (2,258)    
Acquisitions, net of cash acquired (50,195) (2,612)    
Settlement of deferred consideration for acquisitions (2,690)      
Net cash used in investing activities (55,078) (6,870)    
Cash flows from financing activities:        
Payment of contingent considerations (7,772) (14,376)    
Taxes paid related to net share settlement of equity awards (1,003) (9,509)    
Proceeds from issuances of stock under employee stock plans, net 643 782    
Net cash used in financing activities (8,132) (23,103)    
Net decrease in cash and cash equivalents and restricted cash (121,743) (34,258)    
Cash and cash equivalents and restricted cash, beginning of period 185,282 255,577 255,577  
Cash and cash equivalents and restricted cash, end of period 63,539 221,319 $ 185,282 $ 255,577
Non-cash investing and financing activities:        
Shares issued for acquisition of businesses and earn-out consideration 756 8,369    
Stock-based compensation capitalized for software development 214 88    
Lease liabilities arising from right-of-use assets 1,436 $ 4,501    
Shares received for sale of energy group $ 2,021