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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net Income (Loss) Including Noncontrolling Interests $ (292,774) $ (69,523) $ 19,922
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Equity method income (loss) [1] (5,756) 155 (277)
Loss on sale of equity method investments 0 421 0
Depreciation and amortization 6,294 815 290
Share-based compensation 241,689 67,785 156
Fair value adjustment to warrant liability (11,088) 53,019 489
Issuance of ordinary shares related to commitment shares 1,000 0 0
Other than temporary impairment of investments in loans and securities 33,704 0 0
Impairment of goodwill and other intangible assets 3,209 0 0
Gain from the extinguishment of the Option 0 0 (543)
Change in operating assets and liabilities:      
Fees and other receivables (46,453) (27,555) (19,720)
Deferred tax assets, net 5,681 (3,378) (2,303)
Deferred tax liabilities, net 568 0 0
Prepaid expenses and other assets (23,227) (4,738) 123
Right-of-use asset 7,742    
Accounts payable (9,841) 10,999 427
Accrued expenses and other liabilities 32,403 13,407 2,457
Operating lease liability (11,192)    
Income tax payable 2,383 8,404 3,236
Net cash (used in) provided by operating activities (40,000) 49,811 4,257
Proceeds from the sale/maturity/prepayment of:      
Investments in loans and securities 112,897 28,904 29,008
Short-term deposits 5,020 53,412 (48,353)
Equity method and other investments 453 8,925 350
Payments for the purchase of:      
Investments in loans and securities (355,633) (202,366) (102,665)
Property and equipment (22,406) (6,624) (1,097)
Equity method and other investments (5,750) (22,991) 0
Net cash used in investing activities (265,419) (140,740) (122,757)
Cash flows from financing activities      
Proceeds from sale of ordinary shares in connection with the EJFA Merger and PIPE Investment, net of issuance costs 291,872 0 0
Proceeds from issuance of redeemable convertible preferred shares, net 0 172,645 64,810
Proceeds from issuance of ordinary share warrants, net 0 20,807 0
Proceeds from secured borrowing 139,413 37,905 0
Proceeds received from noncontrolling interests 105,469 151,035 74,560
Proceeds from revolving credit facility 42,100 0 0
Proceeds from exercise of stock options 1,617 346 0
Proceeds from exercise of redeemable convertible preferred shares warrants 0 400 0
Distribution made to noncontrolling interests (77,764) (81,548) (19,868)
Distribution made to revolving credit facility (27,100) 0 0
Distribution made to secured borrowing (37,687) 0 0
Payment for deferred offering costs 0 (11,966) 0
Net cash provided by financing activities 437,920 289,624 119,502
Net increase in cash, cash equivalents and restricted cash 132,501 198,695 1,002
Cash, cash equivalents and restricted cash, beginning of period 204,575 5,880 4,878
Cash, cash equivalents and restricted cash, end of period 337,076 204,575 5,880
Reconciliation of cash, cash equivalents, and restricted cash within the consolidated statements of financial position to the amounts shown in the statements of cash flow above:      
Cash and cash equivalents 309,793 190,778 5,066
Restricted cash 22,539 7,000 0
Restricted cash, non-current 4,744 6,797 814
Cash, cash equivalents and restricted cash 337,076 204,575 5,880
Supplemental disclosures of cash flow information      
Cash paid for taxes 6,941 2,609 324
Cash paid for interests 4,341 0 0
Supplemental disclosure of non-cash investing and financing activities      
Initial recognition of ROU assets and operating lease liability 68,819    
Deemed dividend from Secondary transactions 0 23,612 0
Issuance of redeemable convertible preferred shares upon exercise of warrants 0 28,421 1,899
Issuance of the Option 0 0 543
Asset-Backed Securities      
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Loss on investments 15,007 0 0
Other loans and receivables      
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Loss on investments $ 10,651 $ 0 $ 0
[1] Includes income from proprietary investments.