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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net (loss) income $ (37,010) $ 483
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Depreciation and amortization 475 309
Stock-based compensation expense 21,829 0
Provision for credit losses 143 43
Estimated litigation claim 14,696 0
Loss on debt extinguishment 718 0
Accretion of discount on marketable securities, net (194) 0
Change in fair value of contingent consideration (18) 341
Changes in operating assets and liabilities:    
Accounts receivable (3,102) 759
Contract assets (4,081) 290
Prepaid and other current assets (882) (13)
Other assets (84) 0
Accounts payable (2) (1,068)
Accrued expenses (1,321) (652)
Accrued income taxes 687 (107)
Deferred revenue (673) 1,368
Other current liabilities 34 830
Other long-term liabilities (9) (417)
Net cash (used in) provided by operating activities (8,794) 2,166
Cash flows from investing activities:    
Purchases of marketable securities (67,809) 0
Purchases of property and equipment (56) (202)
Net cash used in investing activities (67,865) (202)
Cash flows from financing activities:    
Proceeds from initial public offering, net of underwriting fees 106,020 0
Proceeds from issuance of convertible note, net of debt issuance costs 4,852 0
Proceeds from loan facility 4,250 0
Repayment of loan facility (4,250) 0
Repayment of 2022 line of credit (2,000) 0
Deferred transaction costs (2,126) 0
Contingent consideration (22) (921)
Payments of vendor financing obligation (300) 0
Net cash provided by (used in) financing activities 106,424 (921)
Effect of exchange rate fluctuations on cash and cash equivalents 88 (173)
Net increase in cash and cash equivalents 29,853 870
Cash and cash equivalents, beginning of period 4,421 5,478
Cash and cash equivalents, end of period $ 34,274 $ 6,348