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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 254,341 $ 271,923
Restricted cash 9,000 9,000
Accounts receivable, net of allowance for credit losses of $265 and $273 as of March 31, 2025 and December 31, 2024, respectively 8,125 4,890
Prepaid expenses and other current assets 15,995 17,342
Total current assets 287,461 303,155
Property and equipment, net 17,517 16,282
Operating lease right-of-use assets, net 266 308
Non-marketable equity securities 52,768 52,768
Restricted cash, non-current 1,000 1,000
Other non-current assets 867 755
Total assets 359,879 374,268
Current liabilities:    
Accounts payable 9,386 9,799
Operating lease liabilities, current 1,609 1,544
Other current liabilities 56,725 54,564
Total current liabilities 67,720 65,907
Operating lease liabilities, non-current 8,908 9,338
Long-term debt, net 126,116 125,654
Other non-current liabilities 327 333
Total liabilities 203,071 201,232
Commitments and contingencies (Note 8)
Stockholders’ equity:    
Common stock $0.0001 par value; 31.3 million shares authorized; Class A common stock – 25.0 million shares authorized; 18.7 million and 18.7 million shares issued; 12.5 million and 13.3 million outstanding as of March 31, 2025 and December 31, 2024, respectively; Class B common stock – 6.3 million shares authorized; 3.4 million shares issued and outstanding as of March 31, 2025 and December 31, 2024 1 1
Additional paid-in capital 1,232,288 1,226,642
Accumulated deficit (1,038,400) (1,021,258)
Treasury stock at cost, 6.3 million and 5.4 million as of March 31, 2025 and December 31, 2024, respectively (37,081) (32,349)
Total stockholders’ equity 156,808 173,036
Total liabilities and stockholders’ equity $ 359,879 $ 374,268