v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (26,825) $ (53,101)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 2,264 2,553
Noncash lease expense 143 350
Stock compensation expense 624 1,853
Restricted common stock issued for compensation 182 0
Accretion of debt discount 2,258 13,134
Derecognition expense on conversion of convertible debt 600 25,035
Changes in fair value of derivative liability (14) (6,544)
Gain on sale of property and equipment 0 (1,069)
Impairment of goodwill 6,675 0
Impairment of intangible assets 3,028 0
Restructuring charges 1,636 0
Changes in assets and liabilities:    
Accounts receivable, net (155) 297
Prepaid and other current assets 664 6,568
Cash due from gateways, net 12,684 (5,407)
Other assets (160) (1,183)
Accounts payable 1,695 189
Accrued and other current liabilities 1,497 2,080
Accrued interest 366 546
Payment processing liabilities, net 14,029 47,860
Net cash provided by operating activities 21,191 33,161
Cash flows from investing activities:    
Purchases of property and equipment (47) (108)
Logicquest Technology acquisition   (225)
Proceeds from sale of property and equipment 0 2,620
Capitalized software development costs (1,647) 0
Purchase of intangibles (114) 0
Net cash (used in) provided by investing activities (1,808) 2,287
Cash flows from financing activities:    
Treasury stock purchases 0 7
Repayments of convertible debt   (3,000)
Repayments on long-term debt (12) (15)
Tax withholdings related to net settlement of equity awards (229) 0
Net cash used in financing activities (241) (3,008)
Effect of exchange rates in cash and restricted cash (430) 44
Net increase (decrease) in cash and restricted cash 18,712 32,484
Cash and restricted cash – beginning of period 73,318 40,834
Cash and restricted cash – end of period 92,030 73,318
Cash paid during the period for:    
Interest 300 2,709
Income taxes 848 199
Principal [Member] | Preferred Stock [Member]    
Non-cash financing and investing activities:    
Convertible debt conversion to stock 900 64,600
Interest accrual from convertible debt converted to stock 900 64,600
Principal [Member] | Common Stock [Member]    
Non-cash financing and investing activities:    
Convertible debt conversion to stock 0 1,650
Interest accrual from convertible debt converted to stock 0 1,650
Interest Expense [Member] | Preferred Stock [Member]    
Non-cash financing and investing activities:    
Convertible debt conversion to stock 0 1,703
Interest accrual from convertible debt converted to stock 0 1,703
Interest Expense [Member] | Common Stock [Member]    
Non-cash financing and investing activities:    
Convertible debt conversion to stock 0 4
Interest accrual from convertible debt converted to stock $ 0 $ 4