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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net loss $ (10,621) $ (58,579)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,534 1,452
Equity-based compensation 5,089 4,324
Change in fair value of warrants (3,430) (6,041)
Debt extinguishment loss 13,734
Issuance of common warrants 5,766
Change in fair value of derivative liability (9,175) 24,523
Realized and unrealized gain on short term investments (960) (338)
Equity method investment loss 67 39
Asset retirement obligation accretion 50 26
Amortization of debt discount 2,776 1,739
Changes in operating assets and liabilities:    
Accounts receivable 966 1,656
Other current assets (622) (749)
Other assets 22 16
Accounts payable 841 273
Deferred revenue 142 22
Accrued expenses and other liabilities 3,203 (254)
Operating lease right-of-use assets and liabilities 77 212
Net cash used in operating activities (10,041) (12,179)
Investing activities    
Purchases of network assets, property, and equipment (10) (30)
Purchase of internal use software (126) (101)
Purchase of marketable securities (88,020) (31,463)
Sale and maturity of marketable securities 84,000 34,600
Net cash (used in) provided by investing activities (4,156) 3,006
Financing activities    
Proceeds from 2028 senior convertible notes 190,000
Repayment of 2026 senior secured notes (70,000)
Payments towards debt issuance cost (550)
Payments towards debt (30) (27)
Proceeds from exercise of common warrants 13 517
Proceeds from exercise of common stock options 250 232
Net cash provided by financing activities 233 120,172
Effect of exchange rates on cash and cash equivalents (195) 93
Net (decrease) increase in cash and cash equivalents (14,159) 111,092
Cash and cash equivalents at beginning of period 44,757 39,330
Cash and cash equivalents at end of period 30,598 150,422
Supplemental disclosures    
Interest paid in cash 2,256
Income taxes paid, net $ 74 $ 64