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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (24,350) $ (18,288)
Net income from discontinued operations (197) (2,078)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 11,882 7,293
Accretion of debt in interest expense, net 588 508
Accretion of discount on held to maturity investments in interest expense, net 0 (397)
Current expected credit losses 1,109 564
Provision for obsolete inventory (268) 108
Stock-based compensation 7,181 4,410
Loss on debt extinguishment 5,791 0
Deferred income tax 961 (8,049)
Changes in operating assets and liabilities:    
Accounts receivable (11,356) (2,095)
Inventories (840) (1,613)
Other current assets (2,012) (2,566)
Other assets 592 (730)
Accounts payable (2,962) 5,297
Accrued salaries and benefits (10,433) (4,372)
Accrued expenses (2,918) (2,845)
Customer deposits and deferred service revenue 5,451 (1,445)
Customers payable 4,631 2,388
Other long-term liabilities (21) (115)
Cash used in operating activities - continuing operations (17,171) (24,025)
Cash provided by operating activities - discontinued operations 0 449
Net cash used in operating activities (17,171) (23,576)
Cash flows from investing activities:    
Cash paid for acquisition, net of cash acquired (4,323) (166,292)
Capital expenditures (413) (45)
Capitalization of software costs (1,138) (1,258)
Proceeds from sale of held to maturity investments 0 18,980
Purchases of held to maturity investments 0 (3,119)
Cash used in investing activities - continuing operations (5,874) (151,734)
Cash provided by (used in) investing activities - discontinued operations 197 (127)
Net cash used in investing activities (5,677) (151,861)
Cash flows from financing activities:    
Repayments of long-term debt (93,600) 0
Proceeds from private placement of common stock, net of issuance costs 0 194,490
Proceeds from debt issuance, net of original issue discount 111,136 0
Treasury stock acquired from employees upon vesting or forfeiture of restricted stock (7,015) (4,838)
Proceeds from exercise of stock options 215 1,105
Net cash provided by financing activities 10,736 190,757
Effect of exchange rate changes on cash and cash equivalents 278 479
Net (decrease) increase in cash and cash equivalents and cash held on behalf of customers (11,834) 15,799
Cash and cash equivalents and cash held on behalf of customers at beginning of period 121,545 47,539
Cash and cash equivalents and cash held on behalf of customers at end of period 109,711 63,338
Reconciliation of cash and cash equivalents and cash held on behalf of customers    
Cash and cash equivalents 91,652 50,780
Cash held on behalf of customers 18,059 12,558
Total cash and cash equivalents and cash held on behalf of customers 109,711 63,338
Cash paid during the period for:    
Cash paid for interest 349 0
Cash paid for income taxes 2,145 340
Capitalized software recorded in accounts payable 40 24
Capital expenditures in accounts payable 303 176
Common stock issued for acquisition $ 0 $ 19,170