v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (1,138,036) $ (49,206)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 77,774 11,235
Lease expense 2,574 1,496
Depreciation and amortization 267 261
Interest income (437) (34)
Interest expense on borrowings 7,937 784
Foreign exchange loss (gain), net 701 (909)
Impairment on property and equipment 104
Impairment on goodwill 1,005,778
Impairment on intangible assets 1,200
Impairment on right-of-use assets 1,664
Investment loss, net 15,971 6,879
Allowance for expected credit losses 2,549 1,077
Change in fair value of warrant liabilities (3,463) (5)
Change in fair value of forward share purchase liability 82
Change in fair value of convertible debts (4,447)
Loss (gain) on disposal of property and equipment 57 (665)
Loss on settlement of forward share purchase agreement 379
Reversal of annual bonus accrued in prior year (3,595)
Change in operating assets and liabilities:    
Accounts receivable 2,456 (1,187)
Loans receivable (89) (16)
Deposits, prepayments, and other receivables (782) (2,495)
Accounts payable and other current liabilities 2,828 6,894
Accounts payable and other current liabilities, related parties 1,251
Escrow liabilities (2,621) (12,671)
Operating lease liabilities (1,944) (1,130)
Income tax payable (329) 543
Net cash used in operating activities (29,037) (42,283)
Cash flows from investing activities:    
Proceeds from sale of long-term investments 2,565 3,977
Cash from acquisition of subsidiaries 1,175
Purchase of notes receivable (589)
Purchase of long-term investments (288)
Dividend received from long-term investments 1,670
Proceeds from sale of property and equipment 6,127
Purchase of property and equipment (105)
Net cash provided by investing activities 3,740 10,792
Cash flows from financing activities:    
Advances from stockholder 15,637 9,343
Proceeds from convertible debts 28,728
Repayments of convertible debts (23,860)
Settlement of forward share purchase agreement (13,953)
Proceeds from borrowings 7,433 7,747
Repayments of borrowings (3,892) (6,027)
Proceeds from private placement 1,850
Net cash provided by (used in) financing activities 24,046 (1,040)
Effect on exchange rate change on cash, cash equivalents and restricted cash (166) (85)
Net change in cash, cash equivalent and restricted cash (1,417) (32,616)
Beginning of year 18,678 51,294
End of year 17,261 18,678
Supplemental cash flow information:    
Cash received from income tax refund 427
Cash paid for income taxes 315 172
Cash received from interest 451 349
Cash paid for interest 223 784
Supplemental disclosure of non-cash investing and financing activities:    
Initial recognition of operating lease liabilities related to right-of-use asset 12,513
Forgiveness of amount due to the holding company 12,593
Issuance of common stocks to settle finder fee 403 4,000
Remeasurement of operating lease right-of-use assets and lease liabilities $ 8,030