v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows provided by operating activities:      
Net loss $ (289,627) $ (24,179) $ (62,324)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 1,953 2,193 1,751
Amortization of intangible assets 49,797 54,711 58,196
Amortization of deferred contract costs 12,963 8,816 4,793
Equity-based compensation 48,739 36,434 9,957
Amortization of debt issuance costs 702 702 1,698
Provision for doubtful accounts receivable 1,374 1,325 632
Loss in extinguishment of debt 0 0 9,843
Non-cash restructuring charges related to office leases 155 1,023 0
Goodwill impairment charge 287,400 0 0
Tax receivable agreement remeasurement (23,470) (9,717) (151)
Changes in fair value of contingent consideration 302 1,250 3,764
Deferred income taxes (18,713) (17,806) (436)
Changes in operating assets and liabilities:      
Accounts receivable 811 (13,222) (10,726)
Prepaid expenses and other assets (7,156) (127) (3,729)
Deferred contract costs (18,790) (15,252) (14,441)
Contingent consideration 0 (6,400) 0
Accounts payable, accrued expenses and other liabilities 1,330 3,138 3,424
Deferred revenue (6,580) 12,690 22,961
Net cash provided by operating activities 41,190 35,579 25,212
Cash flows (used in) provided by investing activities:      
Purchases of property, equipment and other assets (2,977) (8,326) (6,731)
Purchases of short-term investments (259,208) (337,961) 0
Maturities of short-term investments 275,426 153,680 0
Cash paid for acquisitions and investments, net of cash acquired (45,023) (56,296) (40,000)
Net cash used in investing activities (31,782) (248,903) (46,731)
Cash flows (used in) provided by financing activities:      
Proceeds from Term Loan 0 0 275,000
Repayments of term loans and delayed draw term loan (8,594) (6,875) (474,460)
Taxes paid related to net share settlement of equity awards (4,432) (4,116) 0
Payment of contingent consideration 0 (1,100) (1,500)
Payment of debt issuance costs 0 0 (3,511)
Proceeds from equity offering, net of underwriting discounts 0 0 834,952
Repurchase of outstanding equity / Definitive OpCo units 0 0 (231,772)
Payments under tax receivable agreement (246) 0 0
Payments of equity offering issuance costs (30) (1,734) (11,709)
Members contributions 0 0 5,500
Members distributions (12,282) (12,871) (8,128)
Net cash (used in) provided by financing activities (25,584) (26,696) 384,372
Net (decrease) increase in cash and cash equivalents (16,176) (240,020) 362,853
Effect of exchange rate changes on cash and cash equivalents 218 (544) (129)
Cash and cash equivalents, beginning of year 146,934 387,498 24,774
Cash and cash equivalents, end of year 130,976 146,934 387,498
Supplemental cash flow disclosures:      
Interest 14,456 10,443 29,569
Income taxes 136 0 13
Acquisitions      
Net assets acquired, net of cash acquired 52,678 97,296 0
Working capital adjustment receivable 145 0 0
Initial cash investment in prior year 0 (40,000) 0
Contingent consideration (7,800) (1,000) 0
Net cash paid for acquisitions 45,023 56,296 0
Supplemental disclosures of non-cash investing activities:      
Capital expenditures included in accounts payable and accrued expenses and other current liabilities 47 1,166 654
Supplemental disclosures of non-cash financing activities:      
Unpaid equity offering costs included in accrued expenses $ 0 $ 0 $ 1,299