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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income (loss) $ 48,916 $ 12,112
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 6,787 6,876
Stock-based compensation expense 6,255 16,720
Loss (income) from equity method investments (11,733) (12,672)
Adjustments on sale of assets, net (19,000) (14,000)
Other, net 931 (2,229)
Changes in operating assets and liabilities (8,428) (38,794)
Net cash provided by (used in) operating activities 23,728 (31,987)
Cash flows from investing activities:    
Purchases of property, equipment, and capitalized software (3,101) (3,849)
Purchase of intangible assets (25) (7,034)
Investments in marketable securities 0 (47,517)
Proceeds from maturities of marketable securities and other 22,398 35,311
Net cash provided by (used in) investing activities 19,272 (23,089)
Cash flows from financing activities:    
Proceeds from (payments for) equity issuances, net (35) (161)
Debt issuance costs (1,612) 0
Repayments of long-term debt (3,500) 0
Net cash provided by (used in) financing activities (5,147) (161)
Net increase (decrease) in cash, cash equivalents and restricted cash and equivalents 37,853 (55,237)
Cash, cash equivalents and restricted cash and equivalents, beginning of period 173,713 193,860
Cash, cash equivalents and restricted cash and equivalents, end of period $ 211,566 $ 138,623