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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net loss $ (107,589) $ (50,027)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation of property and equipment 186 276
Amortization of platform development and intangible assets 9,550 20,834
Amortization of debt discounts 626 2,178
Noncash and accrued interest 8,423 754
Loss on impairment of assets 40,589 119
Change in fair value of contingent consideration 313 469
Liquidated damages 229 455
Stock-based compensation 2,736 16,978
Deferred income taxes 93 109
Bad debt expense 1,269 217
Other (19)
Change in operating assets and liabilities net of effect of business combination:    
Accounts receivable, net 17,051 (4,213)
Subscription acquisition costs 6,131 (1,631)
Prepayments and other current assets 923 (2,465)
Other long-term assets 647 (62)
Accounts payable (4,171) (1,719)
Accrued expenses and other 35,069 1,670
Unearned revenue (17,145) (146)
Subscription refund liability 70 (95)
Operating lease liabilities (445) (171)
Contingent consideration (1,683)
Other long-term liabilities (360) (5,795)
Net cash used in operating activities (7,507) (22,265)
Cash flows from investing activities    
Purchases of property and equipment (54)
Capitalized platform development (2,765) (2,967)
Payments for acquisition of business, net of cash acquired (500)
Net cash used in investing activities (2,819) (3,467)
Cash flows from financing activities    
Proceeds from bridge notes 5,703
Payment of Fexy put option (561)
(Repayments) proceeds under line of credit, net borrowing (20,027) 3,211
Proceeds from common stock private placement 12,000
Proceeds from Simplify loan 16,100
Proceeds from common stock registered direct offering 11,500
Payments of issuance costs from common stock registered direct offering (167)
Payments of debt issuance costs (100)
Payment of deferred cash payments (200) (75)
Payment of taxes from common stock withheld (497) (1,423)
Net cash provided by financing activities 6,815 18,649
Net decrease in cash and cash equivalents (3,511) (7,083)
Cash and cash equivalents – beginning of year 9,284 14,373
Cash and cash equivalents – end of period 5,773 7,290
Supplemental disclosure of cash flow information    
Cash paid for interest 2,698 10,835
Cash paid for income taxes 85 85
Noncash investing and financing activities    
Reclassification of stock-based compensation to platform development 245 785
Issuance cost of registered direct offering recorded in accrued expenses and other 189
Repurchase of common stock for Fexy put option 379
Issuance of common stock pursuant to common stock purchase agreement in connection with exchange of debt 15,000
Issuance of common stock in connection with settlement of liquidated damages 499
Issuance of common stock upon conversion of Series H convertible preferred stock 13,008
Issuance of common stock in connection with acquisition 2,000
Deferred cash payments recorded in connection with acquisitions 246
Assumptions of liabilities in connection with acquisitions 1,246
Reclassification to liability upon common stock modification $ 68