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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income (loss) $ 7,556 $ (11,506)
Less: Income (loss) from discontinued operations, net of tax (471) 0
Income (loss) from continuing operations 8,027 (11,506)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property, equipment and software 5,210 8,071
Amortization of acquired intangible assets 401 1,606
Stock-based compensation 7,694 2,374
Liability-classified 2024 Executive PSUs [1] 2,418 0
Foreign currency (gains) losses, net (7,074) 9,797
Change in assets and liabilities:    
Accounts receivable 2,625 515
Prepaid expenses and other current assets 860 3,564
Right-of-use assets - operating leases 744 750
Accounts payable (873) (6,087)
Accrued merchant and supplier payables (7,979) (16,082)
Accrued expenses and other current liabilities (5,263) (2,298)
Operating lease obligations (819) (2,489)
Payment for early lease termination 0 (1,832)
Other, net (5,993) 3,506
Net cash provided by (used in) operating activities from continuing operations (22) (10,111)
Net cash provided by (used in) operating activities from discontinued operations 0 0
Net cash provided by (used in) operating activities (22) (10,111)
Investing activities    
Purchases of property and equipment and capitalized software (3,737) (3,709)
Proceeds from sale of assets, net 0 116
Acquisitions of intangible assets and other investing activities 0 (338)
Net cash provided by (used in) investing activities from continuing operations (3,737) (3,931)
Net cash provided by (used in) investing activities from discontinued operations 0 0
Net cash provided by (used in) investing activities (3,737) (3,931)
Financing activities    
Payments of borrowings under revolving credit agreement 0 (42,776)
Proceeds from Rights Offering, net of issuance costs 0 79,619
Other financing activities (454) (1,502)
Net cash provided by (used in) financing activities (454) 35,341
Effect of exchange rate changes on cash, cash equivalents and restricted cash, including cash classified within current assets of discontinued operations 2,331 (494)
Net increase (decrease) in cash, cash equivalents and restricted cash, including cash classified within current assets of discontinued operations (1,882) 20,805
Less: Net increase (decrease) in cash classified within current assets of discontinued operations 0 0
Net increase (decrease) in cash, cash equivalents and restricted cash (1,882) 20,805
Cash, cash equivalents and restricted cash, beginning of period [2] 262,569 167,638
Cash, cash equivalents and restricted cash, end of period [2] 260,687 188,443
Cash activity:    
Cash paid for interest 4,275 1,719
Income tax payments 1,984 1,144
Cash paid for amounts included in the measurement of operating lease liabilities 812 2,400
Non-cash investing activity from continuing operations:    
Right-of-use assets obtained in exchange for operating lease liabilities 108 1,264
Increase (decrease) in liabilities related to purchases of property and equipment and capitalized software $ (199) $ 117
[1] This activity relates to the stock-based compensation expense for the liability-classified 2024 Executive PSU awards granted in 2024 that are required to be settled in cash. See Note 7, Stockholders' Equity (Deficit) and Compensation Arrangements,for additional information.
[2] 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, 2025, December 31, 2024, March 31, 2024 and December 31, 2023 (in thousands):
March 31, 2025December 31, 2024March 31, 2024December 31, 2023
Cash and cash equivalents$226,814 $228,843 $158,717 $141,563 
Restricted cash included in prepaid expenses and other current assets33,873 33,726 29,726 26,075 
Cash, cash equivalents and restricted cash$260,687 $262,569 $188,443 $167,638