XML 19 R6.htm IDEA: XBRL DOCUMENT v3.25.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income (loss) and comprehensive income (loss) $ 6,652 $ (49,210)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Loss on impairments and disposal of assets 847 787
Amortization of intangibles 3,902 4,422
Depreciation 12,533 13,852
Non-cash compensation expense 20,091 22,085
Deferred income taxes 1,198 1,573
Bad debt expense 267 422
Amortization of debt issuance costs 1,360 1,691
Amortization of debt discount 335 224
Reduction in carrying amount of ROU asset, offset by change in operating lease liabilities (762) (2,624)
Loss on impairment of equity investments 1,225 58,376
Changes in current assets and liabilities:    
Accounts receivable (51,921) (70,726)
Prepaid and other current assets (5,439) 138
Accounts payable, accrued expenses and other current liabilities 61,733 74,445
Income taxes (1,993) (137)
Other, net (1,048) (261)
Net cash provided by operating activities 56,575 46,022
Cash flows from investing activities:    
Capital expenditures (9,423) (8,398)
Proceeds from sale of fixed assets 2,497 2
Net cash used in investing activities (6,926) (8,396)
Cash flows from financing activities:    
Proceeds from term loan 450,000 125,000
Repayment of term loan (409,375) (8,750)
Payments related to net-share settlement of stock-based compensation, net of proceeds from exercise of stock options (2,756) (2,751)
Payment of debt issuance costs (5,095) (4,152)
Payment of original issue discount (4,000) (3,125)
Other financing activities 0 (277)
Net cash used in financing activities (87,665) (52,894)
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents (38,016) (15,268)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 106,594 112,056
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 68,578 96,788
Convertible Debt    
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Gain on settlement of convertible debt (266) (9,035)
Loss on repayment of term loans (266) (9,035)
Secured Debt    
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Gain on settlement of convertible debt 7,861 0
Loss on repayment of term loans 7,861 0
2025 Convertible Notes    
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization of debt issuance costs 300 800
Cash flows from financing activities:    
Repayment and repurchase of 0.50% Convertible Senior Notes (115,007) (158,839)
Payment of revolver issuance costs $ (1,432) $ 0