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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net loss $ (68,037) $ (64,743)
Adjustments to reconcile net loss to net cash used in operating activities    
Change in fair value of warrant liability 0 800
Stock-based compensation 22,974 0
Loss (gain) on marketable equity securities 31,805 (6,246)
Deferred income taxes (46,216) 0
Loss from equity-method investments 1,883 0
Amortization of original issue discount 560 345
Amortization of deferred financing fees 157 128
Change in fair value of contingent consideration 0 194
Change in fair value of holdback liability 46 0
Amortization of warrant contract asset 0 1,211
Depreciation and amortization 20,353 9,189
Provision for bad debt expense 316 219
Change in fair value of warrant asset 0 4,700
Non-cash operating lease costs 2,089 1,674
Minimum accretion expense 248 70
PIK interest added to principal 3,274 2,182
Change in assets and liabilities    
Accounts receivable (45,175) (13,552)
Inventory (911) (1,284)
Prepaid expenses and other current assets (5,798) (5,729)
Investments and other assets (3,358) 1,294
Accounts payable 23,572 (12,057)
Deferred revenue (12,377) (15,974)
Deferred other income (3,988) 0
Accrued data licensing fees (250) (2,750)
Accrued expenses & other (27,606) (2,353)
Interest payable 3,508 3,643
Operating lease liabilities (2,693) (2,339)
Net cash used in operating activities (105,624) (101,378)
Investing activities    
Purchases of property and equipment (2,074) (6,108)
Proceeds from sale of marketable equity securities 8,316 23,098
Business combinations, net of cash acquired (380,762) 0
Purchases of capitalized software (1,298) 0
Net cash (used in) provided by investing activities (375,818) 16,990
Financing activities    
Payment of deferred offering costs 0 (565)
Proceeds from revolving credit facility, net of original issue discount 98,000 0
Proceeds from long-term debt, net of original issue discount 196,000 0
Payment of deferred financing fees (958) 0
Payment of indemnity holdback related to acquisition 0 (813)
Net cash provided by (used in) financing activities 293,042 (1,378)
Effect of foreign exchange rates on cash (109) (49)
Net decrease in Cash, Cash Equivalents and Restricted Cash (188,509) (85,815)
Cash, cash equivalents and restricted cash, beginning of period 341,835 166,607
Cash, cash equivalents and restricted cash, end of period 153,326 80,792
Cash, Cash Equivalents and Restricted Cash are Comprised of:    
Cash and cash equivalents 151,603 79,942
Restricted cash and cash equivalents 1,723 850
Total cash, cash equivalents and restricted cash 153,326 80,792
Supplemental disclosure of cash flow information    
Cash paid during the year for interest 10,849 6,980
Cash paid for income taxes 0 0
Supplemental disclosure of noncash investing and financing activities    
Dividends Payable 0 2,966
Purchases of property and equipment, accrued but not paid 7,003 1,379
Deferred offering costs, accrued but not yet paid 0 4,071
Redemption of convertible promissory note 7,060 6,391
Non-voting common stock issued in connection with business combinations 0 344
Class A Voting Common Stock issued in connection with business combinations 310,320 0
Convertible promissory note principal reset due to amendment 72,488 0
Series G-3 Redeemable Convertible Preferred Stock [Member]    
Supplemental disclosure of noncash investing and financing activities    
Issuance of Series 0 3,809
Series G-4 Redeemable Convertible Preferred Stock [Member]    
Supplemental disclosure of noncash investing and financing activities    
Issuance of Series $ 0 $ 611