XML 26 R8.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Operating activities:      
Net loss $ (60,248) $ (79,361) $ (66,561)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Impairment of goodwill 63,000 78,200 46,300
Depreciation 22,087 19,778 16,828
Non-cash operating lease expense 5,240 5,456 6,060
Amortization expense of finance leases 3,651 1,929 2,364
Stock-based compensation expense 3,191 4,535 8,178
Amortization of intangible assets 3,057 5,213 27,096
Impairment of right-of-use and long-lived assets 1,397 1,502 156
Change in fair value of warrant liability (669) (49) (9,802)
Deferred tax provision (841) (35) (475)
Other 2,008 2,297 4,468
Changes in operating assets and liabilities:      
Accounts receivable (1,649) 4,781 2,596
Prepaid expenses and other assets 1,987 2,185 (805)
Accounts payable, accrued expenses, and other liabilities (10,570) (4,121) 7,396
Contract liability and customer advances (4,739) (5,517) (1,587)
Operating lease liabilities (8,798) (7,867) (7,275)
Net cash provided by operating activities 18,104 28,926 34,937
Investing activities:      
Capitalized internal-use software costs (23,249) (22,206) (16,685)
Purchases of property and equipment (813) (1,580) (1,137)
Net cash used in investing activities (24,062) (23,786) (17,822)
Financing activities:      
Proceeds from secured term loan 45,000 0 0
Proceeds from insurance financing 2,118 0 0
Payments for dividends on convertible redeemable preferred stock 0 [1] 0 [1] (15,512) [1]
Principal payments on insurance financing (2,122) 0 0
Principal payments on finance leases (2,852) (2,066) (2,519)
Contingent consideration payment at initial value (3,704) (1,037) 0
Payments of debt issuance costs (4,551) 0 0
Payments of line of credit (16,000) 0 0
Other (266) (291) (101)
Net cash provided by (used in) financing activities 17,623 (3,394) (18,132)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,133) 748 (820)
Net increase (decrease) in cash, cash equivalents and restricted cash 10,532 2,494 (1,837)
Cash, cash equivalents and restricted cash at beginning of period 22,936 20,442 22,279
Cash, cash equivalents and restricted cash at end of period 33,468 22,936 20,442
Cash and cash equivalents 29,937 22,750 20,044
Restricted cash 3,531 186 398
Total cash, cash equivalents and restricted cash 33,468 22,936 20,442
Supplemental cash flow disclosures:      
Interest paid 1,211 1,542 652
Income taxes paid, net of refunds 1,305 2,108 1,804
Operating cash flows from operating leases 11,081 10,922 10,364
Operating cash flows from finance leases 712 244 338
Supplemental non-cash activities:      
Issuance of convertible redeemable preferred stock (related parties) 32,771 [1],[2] 0 [1],[2] 0 [1],[2]
Convertible redeemable preferred stock dividends accrued but not yet paid 8,962 [1] 16,270 [1] 7,863 [1]
Right-of-use assets obtained in exchange for finance lease liabilities 7,861 3,195 1,106
Settlement of restricted stock unit liability 1,895 2,762 1,718
Modification of operating right-of-use assets 1,216 292 0
Change in accounts payable and accrued expenses related to capital expenditures 653 1,130 1,162
Accrued debt issuance costs 559 0 0
Right-of-use assets obtained in exchange for new operating lease liabilities $ 0 $ 1,211 $ 908
[1] Transactions for these line items were exclusively with related parties (refer to Footnote 4, Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit), and Footnote 13, Related Party Transactions, of the Notes to Consolidated Financial Statements for additional information).
[2] The convertible redeemable preferred stock issued in 2024 was initially recognized at fair value. The Company recorded the initial fair value, net of issuance costs, of $19.6 million within mezzanine equity and the remaining $13.0 million within additional paid-in capital on the Consolidated Balance Sheets. Refer to Footnote 4, Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit), of the Notes to Consolidated Financial Statements.