XML 17 R6.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating activities:        
Net loss for the period $ (15,637) $ (18,604) $ (30,770) $ (45,088)
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 11,654 11,374 23,320 23,040
Amortization of debt discount and issuance costs 1,174 1,075 2,341 2,142
Deferred income taxes (recovery) (231) 94 (422) 479
Accretion of redeemable preferred units 0 4,140 0 7,895
Stock-based compensation expense 1,386 1,702 2,891 3,575
Change in non-cash operating working capital        
Accounts receivable (104) 1,718 (3,346) 4,241
Prepaid expenses and deposits (3,098) (4,626) (2,223) (3,381)
Deferred costs of fulfillment 2,031 70 (1,986) (4,949)
Accounts payable & accrued liabilities 6,766 (2,030) (3,855) (6,371)
Contract liabilities 363 467 5,901 7,491
Other operating assets and liabilities 2,262 (88) 3,465 540
Net cash provided by (used in) operating activities 6,566 (4,708) (4,685) (10,386)
Financing activities:        
Proceeds received on exercise of stock options 31 0 31 0
Repayment of syndicated revolver 0 (6,500) (2,500) (12,000)
Payment of syndicated revolver costs 0 (19) 0 (19)
Net cash provided by (used in) financing activities 31 (6,519) (2,469) (12,019)
Investing activities:        
Proceeds on disposal of property and equipment 10,670 0 11,636 0
Additions to property and equipment (3,468) (15,957) (8,905) (30,277)
Acquisition of intangible assets (213) (2) (213) (98)
Net cash provided by (used in) investing activities 6,989 (15,959) 2,518 (30,375)
Increase (decrease) in cash and cash equivalents, restricted cash, and restricted cash equivalents 13,586 (27,186) (4,636) (52,780)
Cash and cash equivalents, restricted cash, and restricted cash equivalents beginning of period 55,016 79,384 73,238 104,978
Cash and cash equivalents, restricted cash, and restricted cash equivalents end of period 68,602 52,198 68,602 52,198
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 52,020 39,280 52,020 39,280
Restricted cash included in funds held by trustee 4,640 4,050 4,640 4,050
Restricted cash included in secured notes reserve funds 11,942 8,868 11,942 8,868
Total cash and cash equivalents, restricted cash, and restricted cash equivalents end of period 68,602 52,198 68,602 52,198
Supplemental cash flow information:        
Interest paid 8,475 8,495 26,807 17,504
Income taxes paid, net 2,092 2,132 3,391 2,827
Supplementary disclosure of non-cash investing and financing activities:        
Property and equipment acquired during the period not yet paid for $ 1,610 $ 5,251 $ 1,610 $ 5,251