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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income (loss) $ (11,506) $ (28,613)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property, equipment and software 8,071 12,387
Amortization of acquired intangible assets 1,606 2,118
Stock-based compensation 2,374 2,363
Foreign currency (gains) losses, net 9,797 (4,087)
Change in assets and liabilities:    
Accounts receivable 515 8,319
Prepaid expenses and other current assets 3,564 3,493
Right-of-use assets - operating leases 750 4,008
Accounts payable (6,087) (32,073)
Accrued merchant and supplier payables (16,082) (29,467)
Accrued expenses and other current liabilities (2,298) 782
Operating lease obligations (2,489) (8,239)
Payment for early lease termination (1,832) (9,601)
Other, net 3,506 2,290
Net cash provided by (used in) operating activities (10,111) (76,320)
Investing activities    
Purchases of property and equipment and capitalized software (3,709) (9,544)
Proceeds from sale of assets 116 1,088
Acquisitions of intangible assets and other investing activities (338) (557)
Net cash provided by (used in) investing activities (3,931) (9,013)
Financing activities    
Payments of borrowings under revolving credit agreement (42,776) (27,300)
Proceeds from Rights Offering, net of issuance costs 79,619 0
Other financing activities (1,502) (1,897)
Net cash provided by (used in) financing activities 35,341 (29,197)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (494) (148)
Net increase (decrease) in cash, cash equivalents and restricted cash 20,805 (114,678)
Cash, cash equivalents and restricted cash, beginning of period [1] 167,638 281,696
Cash, cash equivalents and restricted cash, end of period [1] 188,443 167,018
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,719 2,578
Income tax payments 1,144 1,526
Increase (decrease) in liabilities related to purchases of property and equipment and capitalized software 117 (4,552)
Cash paid for amounts included in the measurement of operating lease liabilities 2,400 18,145
Right-of-use assets obtained in exchange for operating lease liabilities $ 1,264 $ 0
[1] The following table provides a reconciliation of Cash, cash equivalents and restricted cash shown above to amounts reported within the Condensed Consolidated Balance Sheets as of March 31, 2024, December 31, 2023, March 31, 2023 and December 31, 2022 (in thousands):
March 31, 2024December 31, 2023March 31, 2023December 31, 2022
Cash and cash equivalents$158,717 $141,563 $163,757 $281,279 
Restricted cash included in prepaid expenses and other current assets29,726 26,075 3,261 417 
Cash, cash equivalents and restricted cash$188,443 $167,638 $167,018 $281,696