XML 16 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities:    
Net income $ 31,329 $ 110,298
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 7,728 7,330
Loss on asset disposals, abandonments and write-downs 84 235
Provision for expected credit losses 732 565
Deferred income taxes 10,604 (59,686)
Stock-based compensation expense 9,725 10,494
Amortization of deferred financing costs and interest rate caps 2,589 1,533
Accretion of debt discount 203 219
Loss on extinguishment of debt 0 2,224
Change in fair value of convertible note investment 1,562 0
Changes in operating assets and liabilities:    
Accounts receivable (6,078) 3,070
Inventories (5,871) (10,757)
Prepaid expenses and other current assets (11,146) (15,148)
Contract assets 783 (473)
Accounts payable 7,840 4,000
Accrued liabilities 3,929 (7,185)
Deferred revenue 864 (1,534)
Accrued interest (3) (9,728)
Other non-current assets and liabilities (268) (1,316)
Net cash provided by operating activities 54,606 34,141
Investing activities:    
Purchases of property and equipment (4,837) (10,406)
Acquisition of intangible assets—capitalized software (5,861) (2,956)
Proceeds from FCC Reimbursement Program for property, equipment and intangibles 95 0
Proceeds from interest rate caps 12,918 12,489
Redemptions of short-term investments 0 49,524
Purchases of short-term investments 0 (24,728)
Purchase of convertible note investment (5,000) 0
Net cash (used in) provided by investing activities (2,685) 23,923
Financing activities:    
Payments on term loan (3,625) (103,625)
Repurchase of common stock (23,157) 0
Payments on finance leases (3) (97)
Stock-based compensation activity (2,668) (7,747)
Net cash used in financing activities (29,453) (111,469)
Effect of exchange rate changes on cash 46 55
Increase(decrease) in cash, cash equivalents and restricted cash 22,514 (53,350)
Cash, cash equivalents and restricted cash at beginning of period 139,366 150,880
Cash, cash equivalents and restricted cash at end of period 161,880 97,530
Less: non-current restricted cash 330 330
Cash and cash equivalents at end of period 161,550 97,200
Supplemental cash flow information:    
Cash paid for interest 28,348 39,759
Cash paid for taxes 1,148 370
Non-cash investing activities:    
Purchases of property and equipment in current liabilities $ 7,164 $ 6,253