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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss from continuing operations $ (82,311) $ (133,574)
Less: Net income (loss) from discontinued operations, net of tax (149) 4,003
Net loss from continuing operations (82,162) (137,577)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 18,780 17,755
Stock-based compensation 23,285 26,744
Amortization of debt (premium) discount, net (521) 1,268
Gain on extinguishment of debt (21,761) 0
Deferred income tax provision (benefit) 212 (235)
Amortization of right-of-use assets 1,964 1,359
Other adjustments 341 319
Changes in operating assets and liabilities of business:    
Accounts receivable, net 8,383 (4,828)
Prepaid expenses and other assets 3,736 (5,169)
Prepaid sports rights 4,862 1,127
Accounts payable (37,133) (20,716)
Accrued expenses and other liabilities (12,518) (22,845)
Deferred revenue (3,812) (4,659)
Lease liabilities (2,576) (610)
Net cash used in operating activities - continuing operations (98,920) (148,067)
Net cash used in operating activities - discontinued operations (629) (1,232)
Net cash used in operating activities (99,549) (149,299)
Cash flows from investing activities    
Purchases of property and equipment (316) (267)
Capitalization of internal use software (6,830) (8,404)
Purchase of intangible assets (540) 0
Net cash used in investing activities (7,686) (8,671)
Cash flows from financing activities    
Proceeds from the issuance of common stock, net of offering costs 36,860 116,903
Redemption of non-controlling interest 0 (2,147)
Repurchase of convertible notes (14,657) 0
Vested restricted stock units settled for cash (181) (125)
Payments for financing costs (4,657) 0
Proceeds from exercise of stock options 3 95
Repayments of notes payable and long-term borrowings (225) (326)
Net cash provided by financing activities 17,143 114,400
Net decrease in cash, cash equivalents and restricted cash (90,092) (43,570)
Cash, cash equivalents and restricted cash at beginning of period 251,420 343,226
Cash, cash equivalents and restricted cash at end of period 161,328 299,656
Supplemental disclosure of cash flows information:    
Interest paid 5,094 6,579
Income taxes paid 120 6
Non-cash financing and investing activities:    
Accrued expenses - issuance of common stock 37 9
Accounts payable - financing costs 25 0
Accounts payable - purchases of property and equipment $ 1,374 $ 0