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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities:    
Net Loss $ (70,335) $ (38,042)
Adjustments to reconcile net loss to cash used in operating activities:    
Provision for bad debt expense 1,712 554
Depreciation and amortization 17,950 18,764
Operating lease expenses 5,294 6,429
Loss on foreign currency, net 5,060 6,293
Deferred tax expense (7,460) (841)
Gain on debt and equity securities, net (5,143) (1,100)
Loss (gain) on equity method investments, net 932 (1,483)
Contingent consideration liability (3,814) 1,987
Stock-based compensation 57,656 3,097
Gain on disposal of right-of-use assets (1,883) (62)
Other non-cash items (1,471) 715
Changes in operating assets and liabilities    
Changes in receivables, net of allowance (28,269) (30,643)
Changes in other assets (18,486) (10,879)
Changes in accounts payable 17,957 16,540
Changes in accrued expenses 28,996 7,921
Changes in contract liabilities 28,304 2,152
Changes in other liabilities 207 (14,125)
Changes in operating lease liabilities (4,949) (5,584)
Payment of severance benefits, net of cash transferred 136 (2,356)
Net cash provided by (used in) operating activities 22,394 (40,663)
Investing activities:    
Proceeds from maturities of short-term investments 63,299 7,725
Proceeds from sale of debt and equity securities 2,977  
Purchases of property and equipment (679) (9,326)
Proceeds from sale of equity method investments 5,927  
Payment made for short-term investments (68,035) (7,725)
Payment made for loan receivable (237) (12,307)
Purchases of intangible assets (4,669) (5,169)
Purchases of equity method investments (5,798) (687)
Disposal of businesses, net of cash disposed (360) 2,031
Other investing activities 269 (17)
Net cash used in investing activities (7,306) (25,475)
Financing activities:    
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions 292,950  
Proceeds from issuance of common stock related to private placement 50,000  
Payments of initial public offering costs (1,898)  
Repayments of short-term borrowings (3,647) (6,761)
Payment of contingent consideration related to business acquisition (1,352) (1,983)
Net cash provided by (used in) financing activities 336,053 (8,744)
Effect of exchange rate changes on cash and cash equivalents (10,581) (5,333)
Cash and cash equivalents:    
Net increase (decrease) in cash and cash equivalents 340,560 (80,215)
Cash and cash equivalents at beginning of the year 231,745 279,709
Cash and cash equivalents at end of the year 572,305 199,494
Supplemental disclosure:    
Income taxes paid 15,477 18,440
Interest paid 85 $ 88
Reclassification of deferred offering costs to additional paid-in capital upon IPO 11,215  
Deferred offering costs not yet paid 9,316  
Reclassification of debt and equity securities to equity method investments $ 18,256