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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income (loss) $ 119,524 $ (107,589)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation of property and equipment 87 186
Amortization of platform development and intangible assets 6,389 9,550
Amortization of debt costs 95 626
Noncash and accrued interest 0 8,423
Loss on impairment of assets 0 40,589
Change in fair value of contingent consideration 0 313
Liquidated damages 228 229
Stock-based compensation 414 2,736
Deferred income taxes 70 93
Credit losses 219 1,269
Other 2 (19)
Change in operating assets and liabilities:    
Accounts receivable 4,695 17,051
Subscription acquisition costs 0 6,131
Prepayments and other current assets (1,165) 923
Other long-term assets 11 647
Accounts payable (4,627) (4,171)
Accrued expenses and other (52,999) 35,069
Unearned revenue (46,622) (17,145)
Subscription refund liability (612) 70
Operating lease liability 422 (445)
Contingent consideration 0 (1,683)
Other long-term liabilities 0 (360)
Net cash provided by (used in) operating activities 26,131 (7,507)
Cash flows from investing activities    
Purchases of property and equipment 0 (54)
Purchases of intangible assets (1,000) 0
Capitalized platform development (6,291) (2,765)
Net cash used in investing activities (7,291) (2,819)
Cash flows from financing activities    
Payment of Fexy put option 0 (561)
Repayments under line of credit 0 (20,027)
Proceeds from common stock private placement 0 12,000
Proceeds from Simplify loan 0 16,100
Repayment of Simplify loan (10,651) 0
Payments of deferred cash payment 0 (200)
Payments of taxes from common stock withheld (28) (497)
Net cash (used in) provided by financing activities (10,679) 6,815
Net change in cash and cash equivalents 8,161 (3,511)
Cash and cash equivalents — beginning of year 4,362 9,284
Cash and cash equivalents — end of period 12,523 5,773
Supplemental disclosures of cash flow information    
Cash paid for interest 8,722 2,698
Cash paid for income taxes 517 85
Noncash investing and financing activities    
Reclassification of stock-based compensation to platform development 25 245
Purchase of intangible asset with accrued expenses and other 0 0
Repurchase of common stock for Fexy put option 0 379
Issuance of common stock pursuant to common stock purchased agreement in connection with exchange of debt $ 0 $ 15,000