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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net Loss $ (50,349) $ (49,493)
Adjustments to reconcile net loss to cash provided by operating activities:    
Provision for bad debt expense 2,482 667
Depreciation and amortization 27,953 27,943
Operating lease expense 8,013 9,210
Loss on foreign currency, net (616) 8,138
Deferred tax expense (23,698) (1,787)
Gain on debt and equity securities, net (5,143) (886)
Loss (gain) on equity method investments, net 1,069 (2,539)
Contingent consideration liability (3,713) (1,797)
Stock-based compensation 72,114 4,331
Gain on disposal of right-of-use assets (1,883)  
Other non-cash items 336 379
Changes in operating assets and liabilities    
Changes in receivables, net of allowance (25,706) 6,278
Changes in other assets (46,334) (9,210)
Changes in accounts payable 2,109 3,088
Changes in accrued expenses 30,299 17,710
Changes in contract liabilities 34,348 16,674
Changes in other liabilities 12,256 (10,790)
Changes in operating lease liabilities (7,318) (8,083)
Payment of severance benefits, net of cash transferred 320 (2,314)
Net cash provided by operating activities 26,539 7,519
Investing activities:    
Proceeds from maturities of short-term investments 63,205 7,691
Proceeds from sale of debt and equity securities 2,975  
Purchases of property and equipment (1,313) (9,837)
Proceeds from sale of equity method investments 5,963  
Payment made for short-term investments (68,369) (22,645)
Payment made for loan receivable (178) (12,035)
Purchases of intangible assets (7,678) (8,096)
Purchases of equity method investments (5,792) (685)
Disposal of businesses, net of cash disposed (361) 2,008
Other investing activities 318 (1,472)
Net cash used in investing activities (11,230) (45,071)
Financing activities:    
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions 292,950  
Proceeds from issuance of common stock related to private placement 50,000  
Proceeds from stock option exercise 574  
Capital contributions to a non-wholly owned sbusidiary from a limited partner   3,257
Proceeds from exercise of over-allotment, net of underwriting discounts and commissions 26,786  
Payments of initial public offering costs (11,154)  
Repayments of short-term borrowings (3,639) (6,733)
Payment of contingent consideration related to business acquisition (1,849) (2,923)
Net cash provided by (used in) financing activities 353,668 (6,399)
Effect of exchange rate changes on cash and cash equivalents (15,206) (11,514)
Cash and cash equivalents:    
Net increase (decrease) in cash and cash equivalents 353,771 (55,465)
Cash and cash equivalents at beginning of the year 231,745 279,709
Cash and cash equivalents at end of the year 585,516 224,244
Supplemental disclosure:    
Income taxes paid 23,683 18,440
Interest paid 85 $ 88
Reclassification of deferred offering costs to additional paid-in capital upon IPO 11,215  
Deferred offering costs not yet paid 270  
Reclassification of debt and equity securities to equity method investments $ 19,422