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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income (loss) [1] $ 222,159 $ (16,567)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization [1] 7,589 10,090
Provision for losses on accounts receivable [1] 356 2,065
Share-based compensation [1] 2,440 3,563
Fair value and remeasurement adjustments ($26 and $2,146 from related parties) [1] (1,865) 8,405
Non-cash interest and other [1] 1,585 4,513
Depreciation of rental merchandise [1] 3,123 3,387
Net foreign currency losses (gains) [1] 22 (224)
(Income) loss from equity investments [1] (1,326) 552
Dividends from equity investments [1] 137 59
Deferred income taxes [1] (20) 8,957
Loss (gain) on sale or disposal of fixed assets and other [1] 11 (1,350)
Gain on sale and deconsolidation of businesses [1] 0 (80,841)
(Gain) loss on extinguishment of debt [1] (2,890) 10,427
Gain on senior note exchange [1] 0 (10,532)
Change in operating assets and liabilities:    
Amounts due to/from clearing brokers [1] 7,564 17,818
Securities and other investments owned [1] (192,825) 49,216
Securities borrowed [1] (18,501) 2,127
Accounts receivable [1] (12,211) 3,551
Prepaid expenses and other assets ($— and $2,653 from related parties) [1] 7,224 5,479
Accounts payable, accrued expenses and other liabilities [1] (8,668) (8,961)
Amounts due to/from related parties and partners [1] 0 (1,959)
Securities sold not yet purchased [1] 7,024 (3,535)
Deferred revenue [1] (1,176) (857)
Securities loaned [1] 18,321 (5,199)
Net cash provided by operating activities [1] 38,073 184
Cash flows from investing activities    
Purchases of loans receivable ($— and $50,853 from related parties) [1] (20,115) (61,528)
Repayments of loans receivable ($1,855 and $32,683 by related parties) [1] (28,505) (46,757)
Proceeds from sale of loans receivable ($— and $6,611 from related parties) [1] 0 6,840
Proceeds from loan participations sold [1] 0 3,986
Proceeds from sale of business, net of cash sold and other [1] 0 68,901
Purchases of property, equipment, and intangible assets [1] (987) (6,673)
Proceeds from sale of property, equipment, intangible assets, and other [1] 0 7,160
Distributions from equity investments [1] 930 0
Purchases of equity and other investments [1] 0 (6,621)
Consolidation of VIE [1] 0 359
Net cash provided by investing activities [1] 8,333 59,181
Cash flows from financing activities    
Proceeds from revolving line of credit [1] 41,312 21,535
Repayment of revolving line of credit [1] (37,242) (24,064)
Proceeds from note payable [1] 0 850
Repayment of notes payable and other [1] (297) (12,834)
Repayment of term loans [1] (4,000) (239,274)
Proceeds from term loans [1] 0 235,550
Redemption of senior notes [1] (95,991) (145,302)
Proceeds from senior notes held at redemption [1] 5,397 0
Repurchases and payments on senior notes [1] (4,035) 0
Payment of debt issuance and offering costs [1] (32) (8,942)
Payment of contingent consideration [1] 0 (48)
Payment of employment taxes on vesting of shares in equity of subsidiary [1] (1,902) 0
Net cash used in financing activities [1] (96,790) (172,529)
Decrease in cash, cash equivalents and restricted cash [1] (50,384) (113,164)
Effect of foreign currency on cash, cash equivalents and restricted cash [1] (871) (465)
Net decrease in cash and cash equivalents [1] (51,255) (113,629)
Cash, cash equivalents and restricted cash from continuing operations, beginning of period 229,277 248,651
Cash, cash equivalents and restricted cash from discontinued operations, beginning of period 0 8,025
Cash, cash equivalents and restricted cash, total 178,022 143,047
Cash, cash equivalents and restricted cash from continuing operations, end of period 178,022 139,678
Cash, cash equivalents and restricted cash from discontinued operations, end of period 0 3,369
Supplemental disclosure of cash flow information:    
Interest paid 20,191 28,982
Taxes paid 575 932
Supplemental disclosure of non-cash investing and financing activities:    
Transfer of loans to held for sale from loans receivable at fair value 0 5,302
Issuance of common stock in equity of subsidiary 0 1,575
Remaining accrued exit fee for term loan 0 224
Recognition of derivative liability for term loan exit fee 0 11,244
Disposition of noncontrolling interests through sale and deconsolidation of businesses 0 2,918
Capital from noncontrolling interest upon initial consolidation of VIE 0 12,494
Reclassification of restricted stock units from liability to equity 2,589 0
Reclassification of restricted stock units from equity to liability 0 2,138
Issuance of common stock in connection with retirement of senior notes 33,501 0
Term Loan    
Supplemental disclosure of non-cash investing and financing activities:    
Issuance of warrants 0 7,860
Senior notes payable    
Supplemental disclosure of non-cash investing and financing activities:    
Issuance of warrants $ 0 $ 863
[1] Amounts presented contain results from both continuing and discontinued operations. Refer to Note 4 – Discontinued Operations and Assets Held for Sale for additional information regarding cash flow associated with the results of discontinued operations.