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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (56,787) $ (95,366)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 174 6,884
Non-cash lease expense 989 1,548
Share-based compensation expense 10,419 11,327
Unit-based compensation expense 0 946
Impairment of long-lived assets 288 0
Loss on disposal of assets 0 14
Loss from change in fair value of warrant liability 6,068 643
Other 2 14
Changes in operating assets and liabilities:    
Accounts receivable 6,035 4,291
Prepaid insurance 7,105 6,871
Accounts payable and accrued liabilities (16,196) (11,144)
Unsettled crypto trades 457 0
Due to related party (570) (158)
Deferred revenue (2,410) (820)
Operating lease liabilities (1,934) (1,329)
Customer funds payable 20,405 (56)
Other assets and liabilities (1,585) (2,151)
Net cash used in operating activities (27,540) (78,486)
Cash flows from investing activities:    
Capitalized internal-use software development costs and other capital expenditures (2,234) (6,046)
Purchase of available-for-sale securities (17,996) (26,999)
Proceeds from the settlement of available-for-sale securities 22,223 153,158
Net cash provided by investing activities 1,993 75,116
Cash flows from financing activities:    
Proceeds from Concurrent Offerings, net of issuance costs 46,505 0
Proceeds from the exercise of warrants 3 0
Repurchase and retirement of Class A Common Stock (2,318) (2,502)
Net cash provided by (used in) financing activities 44,190 (2,502)
Effect of exchange rate changes (620) 361
Net increase (decrease) in cash, cash equivalents, restricted cash, customer funds and deposits 18,023 (5,511)
Cash, cash equivalents, restricted cash, customer funds and deposits at the beginning of the period 118,498 115,423
Cash, cash equivalents, restricted cash, customer funds and deposits at the end of the period 136,521 109,912
Supplemental disclosure of cash flow information:    
Non-cash operating lease right-of-use asset acquired 0 3,780
Supplemental disclosure of non-cash investing and financing activity:    
Capitalized internal-use software development costs and other capital expenditures included in accounts payable and accrued liabilities 378 622
Reconciliation of cash, cash equivalents, restricted cash, customer funds and deposits to consolidated balance sheets:    
Cash and cash equivalents 47,499 84,519
Restricted cash 34,031 24,858
Customer funds 53,330 535
Deposits (Note 6) 1,661 0
Total cash, cash equivalents, restricted cash, customer funds and deposits 136,521 109,912
Apex Crypto, LLC    
Cash flows from investing activities:    
Acquisition, net of cash acquired 0 (44,366)
Bumped    
Cash flows from investing activities:    
Acquisition, net of cash acquired $ 0 $ (631)