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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss from continuing operations $ (56,584) $ (83,624)
Less: Net loss from discontinued operations, net of tax (255) (256)
Net loss from continuing operations (56,329) (83,368)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 9,261 8,842
Stock-based compensation 12,977 13,688
Amortization of debt (premium) discount, net (253) 623
Gain on extinguishment of debt (9,637) 0
Deferred income tax provision (benefit) 113 (114)
Amortization of right-of-use assets 994 667
Other adjustments 168 163
Changes in operating assets and liabilities of business:    
Accounts receivable, net 6,615 2,739
Prepaid expenses and other assets 419 1,877
Prepaid sports rights (4,399) (6,731)
Accounts payable (22,102) (4,974)
Accrued expenses and other liabilities (3,227) (11,569)
Deferred revenue (381) 1,048
Lease liabilities (1,265) 70
Net cash used in operating activities - continuing operations (67,046) (77,039)
Net cash used in operating activities - discontinued operations (233) (1,150)
Net cash used in operating activities (67,279) (78,189)
Cash flows from investing activities    
Purchases of property and equipment (108) (102)
Capitalization of internal use software (3,609) (3,816)
Purchase of intangible assets (540) 0
Net cash used in investing activities - continuing operations (4,257) (3,918)
Net cash used in investing activities - discontinued operations 0 0
Net cash used in investing activities (4,257) (3,918)
Cash flows from financing activities    
Proceeds from the issuance of common stock, net of offering costs (15) 106,130
Redemption of non-controlling interest 0 (2,147)
Vested restricted stock units settled for cash (181) (125)
Payments for financing costs (4,589) 0
Proceeds from exercise of stock options 2 46
Repayments of notes payable and long-term borrowings (107) (217)
Net cash (used in) provided by financing activities - continuing operations (4,890) 103,687
Net cash (used in) provided by financing activities - discontinued operations 0 0
Net cash (used in) provided by financing activities (4,890) 103,687
Net (decrease) increase in cash, cash equivalents and restricted cash (76,426) 21,580
Cash, cash equivalents and restricted cash at beginning of period 251,420 343,226
Cash, cash equivalents and restricted cash at end of period 174,994 364,806
Supplemental disclosure of cash flows information:    
Interest paid 4,745 6,550
Income taxes paid 27 6
Non-cash financing and investing activities:    
Accrued expenses - Issuance of common stock 0 91
Accounts payable - financing costs $ 93 $ 0