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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating activities    
Net loss $ (101,879) $ (71,735)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 5,238 4,821
Equity-based compensation 13,856 21,838
Change in fair value of warrant liability 33,177 4,101
Change in fair value of Asset Purchase Agreement liability (966)
Realized and unrealized gain on marketable securities (888) (546)
Equity method investment loss 175 191
Asset retirement obligation accretion 76 66
Amortization of debt discount 6,174 3,151
Changes in operating assets and liabilities:    
Accounts receivables (969) (164)
Other current assets 388 537
Other assets 110 119
Accounts payable 467 (627)
Deferred revenue (9) 202
Accrued expenses and other liabilities 5,990 1,884
Operating lease right-of-use assets and liabilities 1,052 722
Net cash used in operating activities (38,008) (35,440)
Investing activities    
Capitalization of costs and purchases of network assets, property, and equipment (350) (2,751)
Purchase of internal use software (442) (983)
Purchase of marketable securities (82,443) (37,441)
Sale and maturity of marketable securities 46,500 42,249
Payment for Asset Purchase Agreement liability (2,732)
Net cash provided by (used in) investing activities (39,467) 1,074
Financing activities    
Proceeds from senior secured notes 70,000
Payments towards debt issuance cost (1,861)
Payments towards debt (111) (110)
Proceeds from exercise of common stock options 3,787 73
Proceeds from exercise of common warrants 31,387 882
Redemption of non-controlling interests 40
Net cash provided by financing activities 35,103 68,984
Effect of exchange rates on cash and cash equivalents (176) 30
Net increase (decrease) in cash and cash equivalents (42,548) 34,648
Cash and cash equivalents at beginning of period 81,878 47,230
Cash and cash equivalents at end of period 39,330 81,878
Non-cash investing and financing information and supplemental disclosures    
Capital expenditure included in Accrued expenses and other current liabilities 78 285
Reclassification of warrant liability to common stock warrants 11,523 1,248
Issuance of warrants 22,843
Interest paid in shares 3,842 1,888
Interest paid in cash 3,502 1,808
Income taxes paid, net $ 195 $ 147