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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (9,126) $ (21,199)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,099 629
Straight-line rent adjustments, net (308) (19)
Equity-based compensation 1,238 1,032
Non-cash operating lease expense 1,481 799
Realized gain on available for sale investments (41) 0
Loss on disposition of assets 25 0
Unrealized loss on warrants 2,528 16,188
Changes in operating assets and liabilities:    
Accounts receivable, prepaid expenses, and other assets (529) (703)
Right-of-use asset initial direct costs 0 (3)
Accounts payable, accrued expenses, and other liabilities (1,417) (1,154)
Net cash used in operating activities (5,050) (4,430)
Cash flows from investing activities:    
Purchases of long-lived assets (3,475) (326)
Payments for cost of construction (20,229) (9,068)
Proceeds from disposition of long-lived assets 353 0
Investment in notes receivable, net (121) 0
Purchases of available for sale investments (50,997) (95,790)
Proceeds from available for sale investments 69,972 71,061
Proceeds from held-to-maturity investments 0 67,997
Net cash (used in) provided by investing activities (4,497) 33,874
Cash flows from financing activities:    
Proceeds from exercise of warrants 0 1,474
Proceeds from ATM Facility 0 0
Principal payments for loans payable and finance leases (431) (446)
Payments for equity issuance costs (70) (43)
Payments of employee taxes related to vested equity awards (661) (686)
Net cash (used in) provided by financing activities (1,162) 299
Net increase (decrease) in cash and restricted cash (10,709) 29,743
Cash and restricted cash, beginning of year 94,359 72,266
Cash and restricted cash, end of period $ 83,650 $ 102,009