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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net loss $ (42,317) $ (10,278)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 8,081 17,527
Amortization of operating lease right-of-use assets 1,010 553
Non-cash interest expense 1,340 814
Loss on digital assets, net 1,946 0
Loss on disposal of property and equipment, net 328 44
Impairment of intangible assets, including goodwill 2,255 0
Stock-based compensation (802) 301
Credit loss expense 143 0
Accrued interest on short-term note receivable (185) 0
Payments for operating expenses made with digital assets 338 0
H.S.L. SRL. settlement adjustment 0 (295)
Change in fair value of notes payable, warrant liabilities, and derivative liabilities (2,771) (51,458)
Change in fair value of related party notes payable, warrant liabilities, and derivative liabilities (1,439) 277
Other (267) 0
Changes in operating assets and liabilities    
Accounts receivables (16) (664)
Inventory 2,029 362
Deposits (2,678) (2,823)
Accounts payable (3,761) (651)
Operating lease liabilities (2,521) (703)
Other current and non-current assets 1,377 2,515
Net cash used in operating activities (31,472) (20,295)
Cash flows from investing activities    
Purchase of digital assets (338) 0
Sale of digital assets 2,107 0
Payments for property and equipment (221) (1,568)
Payments for intangible assets (274) 0
Net cash provided (used in) investing activities 1,274 (1,568)
Cash flows from financing activities    
Proceeds from other financial obligations 0 1,133
Payments of notes payable issuance costs (487) (99)
Net cash provided by financing activities 7,835 24,601
Effect of exchange rate changes on cash and restricted cash (331) (419)
Net increase in cash and restricted cash (22,694) 2,319
Cash and restricted cash, beginning of period 34,954 7,174
Cash and restricted cash, end of period 12,260 9,493
Cash and restricted cash    
Cash and cash equivalents 12,231 9,458
Restricted cash 29 35
Cash, cash equivalents, restricted cash, and restricted cash equivalents 12,260 9,493
Supplemental disclosure of cash flow information    
Cash paid for interest 1,726 1,376
Cash paid for income taxes 0 0
Supplemental disclosure of noncash investing and financing activities    
Reclassification between current and long-term 2,620 0
Conversion of notes payable and accrued interest into Class A Common Stock 25,317 15,573
Issuance of warrants and related party warrants with the SPA Portfolio Notes 491 15,084
Settlement of vendor liability in Class A Common Stock 1,050 1,185
Additions of property and equipment included in accounts payable and accrued expenses 39,740 43,826
Recognition of right-of use assets and liabilities for new leases 10,898 0
Nonrelated Party    
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on settlement of notes payable 8,431 15,920
Changes in operating assets and liabilities    
Accrued expenses and other current and non-current liabilities (1,644) 6,945
Cash flows from financing activities    
Proceeds from notes payable, net of original issuance discount 8,820 22,000
Payments of notes payable and other financing obligations (353) (309)
Related Party    
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on settlement of notes payable 0 1,180
Changes in operating assets and liabilities    
Accrued expenses and other current and non-current liabilities (349) 139
Cash flows from financing activities    
Proceeds from notes payable, net of original issuance discount 0 1,876
Payments of notes payable and other financing obligations $ (145) $ 0