XML 18 R6.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income (loss) $ 3,736 $ (13,362)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization 5,985 6,317
Provision for doubtful accounts 1,393 0
Gain on extinguishment of debt 0 (4,891)
Loss on divestiture of business 0 5,244
Change in fair value of private warrant liability 732 425
Change in fair value of contingent consideration (28) 1,051
Change in fair value of derivatives (6,673) (1,483)
Stock-based compensation 4,910 5,368
Non-cash interest expense 11,334 10,434
Gain on settlement of contingent consideration 0 (14,930)
Other operating activities (10) (799)
Change in operating assets and liabilities, net of acquisitions and divestitures    
Accounts receivable (753) (439)
Reinsurance balance due (2,081) 8,174
Deferred policy acquisition costs 1,544 6,752
Accounts payable 1,163 (3,511)
Accrued expenses and other current liabilities 99 1,829
Losses and loss adjustment expense reserves 4,027 17,057
Other insurance liabilities, current (7,440) 9,158
Deferred revenue (26,238) (33,017)
Refundable customer deposits 138 (2,034)
Other assets and liabilities, net (3,016) 11,122
Net cash provided by (used in) operating activities (11,178) 8,465
Cash flows from investing activities:    
Purchases of property and equipment (65) (41)
Capitalized internal use software development costs (3,281) (2,315)
Purchases of short-term and long-term investments (40,901) 4,705
Maturities, sales of short-term and long-term investments 24,879 10,348
Net cash provided by (used in) investing activities (19,368) 12,697
Cash flows from financing activities:    
Repayments of principal (150) (3,150)
Other financing activities (79) 649
Net cash used in financing activities (229) (2,501)
Net change in cash, cash equivalents, and restricted cash and cash equivalents (30,775) 18,661
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period 196,782 297,232
Cash, cash equivalents, and restricted cash and cash equivalents at end of period 166,007 315,893
Supplemental schedule of non-cash investing and financing activities    
Non-cash reduction of convertible notes 0 5,000
Non-cash reduction in advance funding arrangement obligations 0 94
Supplemental disclosures    
Cash paid for interest 12 969
Income taxes paid $ 89 $ 174