XML 16 R6.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (41,513) $ (30,308)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 8,741 6,409
Reduction in carrying amount of right-of-use asset 2,212 2,202
Lease termination (30) 0
Stock based compensation 15,237 14,161
Revaluation of contingent consideration 0 137
Income from unconsolidated joint venture (90) (42)
Donation of common stock 1,130 657
Loss on debt extinguishment 16,430 0
Gain on sale of property and equipment 0 (23)
Amortization of deferred costs on convertible notes 937 930
Deferred tax benefit (23) (15)
Changes in other assets and liabilities:    
Accounts receivable, net (13,505) (1,293)
Inventory (572) (33)
Prepaid expenses (118) (495)
Other assets (59) 2,593
Accounts payable and accrued cost of revenue 6,361 (14,428)
Other accrued expenses 1,994 1,519
Contract liabilities 2,050 1,719
Lease liabilities (3,170) (3,371)
Other liabilities (22) 0
Income taxes payable (108) (1,154)
Net cash used in operating activities (4,118) (20,835)
Cash flows from investing activities:    
Purchases of marketable securities (4,438) (13,481)
Proceeds from sale of marketable securities 13,000 10,000
Purchases of property and equipment (12,462) (8,750)
Distributions in excess of earnings 66 12
Proceeds from sale of property and equipment 0 79
Net cash used in investing activities (3,834) (12,140)
Cash flows from financing activities:    
Proceeds from issuance of convertible notes 250,000 0
Costs incurred in connection with issuance of convertible notes (7,822) 0
Payments for repurchase of convertible notes (215,992) 0
Purchase of capped calls (17,475) 0
Purchase of treasury stock (8,080) 0
Proceeds from stock options exercised 1,415 1,795
Net cash provided by financing activities 2,046 1,795
Effect of foreign currency translation on cash and cash equivalents 425 (173)
Net decrease in cash and cash equivalents (5,481) (31,353)
Cash and cash equivalents at beginning of the period 22,232 53,424
Cash and cash equivalents at end of the period 16,751 22,071
Supplemental cash flow information:    
Cash paid for interest 2,171 1,438
Non-cash investing and financing activities:    
Non-cash purchase of property and equipment 61 66
Non-cash consideration in connection with business combination 625 0
Non-cash costs incurred in connection with the issuance of convertible notes $ 791 $ 0