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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net loss $ (135,159) $ (217,390)
Less: Net income from discontinued operations, net of tax 1,687 4,672
Net loss from continuing operations (136,846) (222,062)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 28,596 26,858
Gain on sale of assets 0 2
Stock-based compensation 32,609 39,451
Amortization of debt (premium) discount, net (869) 1,918
Gain on extinguishment of debt (29,513) 0
Deferred income tax provision (benefit) 0 (485)
Amortization of right-of-use assets 2,849 2,337
Other adjustments 518 480
Changes in operating assets and liabilities of business:    
Accounts receivable, net 3,470 (18,123)
Prepaid expenses and other assets 4,214 (14,173)
Prepaid sports rights 4,433 (1,125)
Accounts payable (13,312) (7,545)
Accrued expenses and other liabilities (1,631) 605
Deferred revenue 12,907 20,543
Lease liabilities (3,902) (1,669)
Net cash used in operating activities - continuing operations (96,477) (172,988)
Net cash used in operating activities - discontinued operations (2,837) (2,569)
Net cash used in operating activities (99,314) (175,557)
Cash flows from investing activities    
Purchases of property and equipment (1,899) (375)
Sale of property and equipment 0 11
Capitalization of internal use software (8,813) (12,875)
Purchase of intangible assets (540) (2,899)
Net cash used in investing activities (11,252) (16,138)
Cash flows from financing activities    
Proceeds from the issuance of common stock, net of offering costs 43,330 116,890
Redemption of non-controlling interest 0 (2,147)
Repurchase of convertible notes (26,557) 0
Vested restricted stock units settled for cash (181) (125)
Payments for financing costs (4,682) 0
Proceeds from exercise of stock options 3 259
Repayments of notes payable and long-term borrowings (449) (335)
Net cash provided by financing activities 11,464 114,542
Net decrease in cash, cash equivalents and restricted cash (99,102) (77,153)
Cash, cash equivalents and restricted cash at beginning of period 251,420 343,226
Cash, cash equivalents and restricted cash at end of period 152,318 266,073
Supplemental disclosure of cash flows information:    
Interest paid 14,627 13,120
Income taxes paid 190 190
Non-cash financing and investing activities:    
Accrued expenses - issuance of common stock 34 6
Accounts payable - purchases of property and equipment 0 403
Accounts payable - purchases of intangible assets $ 0 $ 693