v3.25.4
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating activities    
Net loss for the year $ (81,830,362) $ (338,362,779)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization and depreciation 14,564,535 13,614,587
Share-based compensation 23,836,781 21,530,677
Provision for credit losses 954,321
Net trade and barter revenue and expense (118,873) 118,873
Non-cash lease expense 1,195,321 997,541
Change in fair value of warrants (24,781,975) 32,694,697
Change in fair value of contingent consideration 1,354,357
Change in fair value of digital assets 649,638
Change in fair value of derivative (9,700,000) 184,699,998
Loss on disposal of property and equipment 20,771
Loss on lease termination 925
Changes in operating assets and liabilities:    
Accounts receivable (3,034,611) (4,338,494)
Prepaid expenses and other (3,210,027) 2,321,553
Accounts payable and accrued liabilities 8,758,479 (4,268,101)
Deferred revenue 3,411,476 5,690,220
Deferred tax liability (2,009,015)
Operating lease liabilities (1,146,548) (1,054,589)
Net cash used in operating activities (70,430,149) (87,010,475)
Investing activities    
Purchase of property and equipment (4,066,907) (2,674,114)
Purchase of intangible assets (2,887,859) (4,493,422)
Sale and maturities of marketable securities 1,135,200
Purchase of digital assets (19,100,000)
Cash paid to non-accredited investors in connection with Callin acquisition (2,488,931)
Cash paid in connection with North River acquisition (7,122,868)
Net cash used in investing activities (26,054,766) (15,644,135)
Financing activities    
Taxes paid from net share settlement for share-based compensation (3,349,241) (1,963,132)
Proceeds from exercise of warrants and stock options 2,988,990 663,204
Proceeds from issuance of Class A Common Stock under ESPP 175,510
Proceeds from issuance of Class A Comon Stock 775,000,000
Repurchase of Class A Common Stock (525,000,000)
Share issuance costs (29,429,791) (365,220)
Net cash provided by (used in) financing activities 220,385,468 (1,665,148)
Increase (decrease) in cash and cash equivalents during the period 123,900,553 (104,319,758)
Cash and cash equivalents, beginning of year 114,018,900 218,338,658
Cash and cash equivalents, end of year 237,919,453 114,018,900
Supplemental cash flow information:    
Cash paid for income taxes 33,755 71,864
Cash paid for interest 288
Cash paid for lease liabilities 1,344,218 1,242,376
Non-cash investing and financing activities:    
Class A Common Stock issued to settle contingent consideration liability 1,404,753
Deferred issuance costs included in accounts payable and accrued liabilities 880,000
Settlement of the derivative liability 174,999,998
Property and equipment in accounts payable and accrued liabilities 893,270 46,210
Recognition of operating right-of-use assets in exchange of operating lease liabilities, net of derecognition of terminated leases 1,119,786 276,738
Share-based compensation capitalized related to intangible assets $ 565,709 $ 736,966