XML 17 R6.htm IDEA: XBRL DOCUMENT v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net income (loss) $ (12,619) $ 7,556
Less: Income (loss) from discontinued operations, net of tax (30) (471)
Income (loss) from continuing operations (12,589) 8,027
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property, equipment and software 3,830 5,210
Amortization of acquired intangible assets 361 401
Stock-based compensation 11,911 7,694
Deferred income taxes 2,784 461
Foreign currency (gains) losses, net 2,349 (7,074)
Change in assets and liabilities:    
Accounts receivable 5,663 2,625
Prepaid expenses and other current assets (4,132) 860
Right-of-use assets - operating leases 963 744
Accounts payable (175) (873)
Accrued merchant and supplier payables (22,019) (7,979)
Accrued expenses and other current liabilities 2,987 (2,845)
Operating lease obligations (1,183) (819)
Other, net (708) (6,454)
Net cash provided by (used in) operating activities from continuing operations (9,958) (22)
Net cash provided by (used in) operating activities from discontinued operations 0 0
Net cash provided by (used in) operating activities (9,958) (22)
Investing activities    
Purchases of property and equipment and capitalized software (3,559) (3,737)
Net cash provided by (used in) investing activities from continuing operations (3,559) (3,737)
Net cash provided by (used in) investing activities from discontinued operations 0 0
Net cash provided by (used in) investing activities (3,559) (3,737)
Financing activities    
Repayment of Notes (33,740) 0
Payments for purchases of treasury stock (21,290) 0
Other financing activities (639) (454)
Net cash provided by (used in) financing activities (55,669) (454)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,329) 2,331
Net increase (decrease) in cash, cash equivalents and restricted cash (70,515) (1,882)
Less: Net increase (decrease) in cash classified within current assets of discontinued operations 0 0
Net increase (decrease) in cash, cash equivalents and restricted cash (70,515) (1,882)
Cash, cash equivalents and restricted cash, beginning of period [1] 325,612 262,569
Cash, cash equivalents and restricted cash, end of period [1] 255,097 260,687
Cash activity:    
Cash paid for interest 1,667 4,275
Income tax payments 2,566 1,984
Cash paid for amounts included in the measurement of operating lease liabilities 978 812
Non-cash investing activity from continuing operations:    
Right-of-use assets obtained in exchange for operating lease liabilities 494 108
Increase (decrease) in liabilities related to purchases of property and equipment and capitalized software $ (134) $ (199)
[1] The following table provides a reconciliation of Cash, cash equivalents and restricted cash shown above to amounts reported within the Condensed Consolidated Balance Sheets as of March 31, 2026, December 31, 2025, March 31, 2025 and December 31, 2024 (in thousands):
March 31, 2026December 31, 2025March 31, 2025December 31, 2024
Cash and cash equivalents$225,514 $296,080 $226,814 $228,843 
Restricted cash included in prepaid expenses and other current assets29,583 29,532 33,873 33,726 
Cash, cash equivalents and restricted cash$255,097 $325,612 $260,687 $262,569 
Three Months Ended March 31,
20262025
Supplemental disclosure of cash flow information from continuing operations
Cash activity:
Cash paid for interest$1,667 $4,275 
Income tax payments2,566 1,984 
Cash paid for amounts included in the measurement of operating lease liabilities978 812 
Non-cash investing activity from continuing operations:
Right-of-use assets obtained in exchange for operating lease liabilities494 108 
Increase (decrease) in liabilities related to purchases of property and equipment and capitalized software$(134)$(199)