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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating activities    
Net loss $ (71,735) $ (40,116)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,821 3,671
Equity-based compensation 21,838 26,501
Change in fair value of warrant liability 4,101 (24,675)
Realized and unrealized gain on marketable securities (546) (72)
Equity method investment loss 191 230
Asset retirement obligation accretion 66 56
Amortization of debt issuance costs and discount 3,151
Changes in operating assets and liabilities:    
Accounts receivables (164) (428)
Other current assets 537 593
Other assets 119 161
Accounts payable (627) 486
Deferred revenue 202 (1,537)
Accrued expenses and other liabilities 1,884 (2,501)
Operating lease right-of-use assets and liabilities 722 536
Net cash used in operating activities (35,440) (37,095)
Investing activities    
Capitalization of costs and purchases of network assets, property, and equipment (2,751) (2,964)
Purchase of equity method investments (1,125)
Purchase of marketable securities (37,441) (13,644)
Sale and maturity of marketable securities 42,249 5,500
Purchase of business, net of cash acquired (2,890)
Purchase of internal use software (983) (613)
Net cash provided (used in) investing activities 1,074 (15,736)
Financing activities    
Proceeds from debt 70,000
Payments towards debt issuance cost (1,861)
Payments towards debt (110) (17)
Proceeds from exercise of stock option 73 57
Proceeds from exercise of warrants 882
Proceeds from issuance of common stock 7
Purchase of common stock (withholding taxes) (4)
Net cash provided by financing activities 68,984 43
Effect of exchange rates on cash and cash equivalents 30 (58)
Net increase (decrease) in cash and cash equivalents 34,648 (52,846)
Cash and cash equivalents at beginning of period 47,230 100,076
Cash and cash equivalents at end of period 81,878 47,230
Non-cash investing and financing activities    
Common stock issued in acquisition of business 13,888
Capital expenditure included in Accrued expenses and other current liabilities 285 605
Reclassification of warrant liability to common stock warrants 1,248
Issuance of warrants 22,843
Interest paid in shares 1,888
Interest paid in cash 1,808
Income taxes paid, net $ 147