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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 106,661 $ 183,237
Accounts receivable, net of allowances of $5,507 and $8,627 as of September 30, 2025 and December 31, 2024, respectively 19,245 28,737
Prepaid expenses and other current assets (Note 1) 17,814 19,250
Total current assets 143,720 231,224
Property and equipment, net (Note 6) 93,474 100,557
Contract acquisition costs, net 27,247 33,559
Intangible assets, net (Note 5) 15,516 15,070
Goodwill, net (Note 5) 226,516 222,554
Deferred tax assets, net 4,492 4,411
Other assets 484 403
Total assets 511,449 607,778
Current liabilities:    
Accounts payable 6,551 15,378
Accrued expenses and other current liabilities (Note 7) 59,664 66,582
Deferred revenue (Note 2) 56,000 57,980
Total current liabilities 122,215 139,940
Senior notes (Note 8) 382,411 527,070
Deferred tax liabilities 3,782 3,542
Other liabilities 4,427 4,542
Total liabilities 512,835 675,094
Commitments and contingencies (Note 10)
Preferred stock, $0.001 par value - 5,000,000 shares authorized, 26,551 and none issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 20,664 0
Stockholders’ equity:    
Common stock, $0.001 par value - 13,333,333 shares authorized, 10,488,063 and 6,263,782 shares issued, 10,303,659 and 6,079,378 shares outstanding as of September 30, 2025 and December 31, 2024, respectively. 155 94
Treasury stock - 184,404 shares at September 30, 2025 and December 31, 2024 (3) (3)
Additional paid-in capital 997,483 936,047
Accumulated deficit (1,012,393) (991,261)
Accumulated other comprehensive loss (7,292) (12,193)
Total stockholders’ equity (22,050) (67,316)
Total liabilities and stockholders’ equity $ 511,449 $ 607,778