XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net loss for the period $ (26,484) $ (19,083)
Items not involving cash:    
Depreciation of property and equipment 9,987 8,588
Impairment of property and equipment 53 1,942
Amortization of debt discount and issuance costs 1,067 238
Amortization of intangible assets 1,679 2,872
Net amortization contract costs (37) (149)
Deferred income taxes (recovery) 385 (2,710)
Excess tax benefits on share-based compensation expense 0 (1)
Net Right of use operating assets/Operating lease liability (263) (82)
Disposal of domain names 2 0
Accretion of redeemable preferred units 3,755 3,037
Loss on change in the fair value of forward contracts 0 745
Amortization of discontinued cash flow hedge 0 (572)
Stock-based compensation expense 1,873 2,246
Change in non-cash operating working capital:    
Accounts receivable 2,523 (5,769)
Contract assets 1,293 2,191
Inventory 691 745
Prepaid expenses and deposits 1,245 (1,326)
Deferred costs of fulfillment (5,019) (3,956)
Income taxes recoverable 366 518
Accounts payable 318 (156)
Accrued liabilities (4,659) (926)
Customer deposits (1,555) 343
Deferred revenue 7,024 6,303
Accreditation fees payable 78 (289)
Net cash provided by (used in) operating activities (5,678) (5,251)
Financing activities:    
Proceeds from redeemable preferred units 0 30,000
Deferred preferred financing costs 0 145
Contingent payments for acquisitions 0 (1,600)
Repayment of syndicated revolver (5,500) (2,800)
Deferred syndicate revolver issued 0 (305)
Net cash provided by (used in) financing activities (5,500) 25,440
Investing activities:    
Additions to property and equipment (14,320) (31,746)
Acquisition of intangible assets (96) (166)
Net cash provided by (used in) investing activities (14,416) (31,912)
Increase (decrease) in cash and cash equivalents, restricted cash, and restricted cash equivalents (25,594) (11,723)
Cash and cash equivalents, restricted cash, and restricted cash equivalents beginning of period 104,978 23,496
Cash and cash equivalents, restricted cash, and restricted cash equivalents end of period 79,384 11,773
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents within the interim consolidated balance sheets to the amounts shown in the interim consolidated statements of cash flows above:    
Cash and cash equivalents 66,590 11,773
Restricted cash included in funds held by trustee 4,034 0
Restricted cash included in secured notes reserve funds 8,760 0
Total Cash and cash equivalents, restricted cash, and restricted cash equivalents end of period 79,384 11,773
Supplemental cash flow information:    
Interest paid 9,009 3,885
Income taxes paid, net 695 501
Supplementary disclosure of non-cash investing and financing activities:    
Property and equipment acquired during the period not yet paid for $ 5,945 $ 1,581