Quarterly report pursuant to Section 13 or 15(d)

Unaudited Interim Condensed Consolidated Statements of Cash Flows

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Unaudited Interim 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 $ (15,560) $ (22,424)
Adjustments to reconcile net loss to net cash and restricted cash used in operating activities:    
Depreciation and amortization 3,153 3,462
Stock-based compensation 9,965 6,018
Change in fair value of warrant liabilities (2,565) 1,896
Excess of lease liability over operating right-of-use assets (123) 0
Gain on lease modification (53) 0
Realized loss from sales of short-term investments 0 95
Realized foreign exchange loss 4 5
Accretion of interest income on held-to-maturity securities (2,297) (3,024)
Deferred tax benefit (32) (572)
Impairment of intangible assets 5,759  
Bad debt expense 202 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 5,958 (2,625)
Accounts receivable (6,967) (11,630)
Other non-current assets 466 (24)
Operating right-of-use assets/lease liabilities 39 377
Accounts payable and accrued expenses (7,525) 87
Deferred revenue 2,454 3,307
Net cash used in operating activities (7,122) (25,052)
Cash Flows From Investing Activities:    
Capitalized software development costs (1,056) 0
Purchase of property and equipment (16,979) (1,390)
Purchase of short-term investments 0 (135)
Proceeds from sales of short-term investments 0 20,532
Purchase of held-to-maturity investments (77,051) (130,145)
Proceeds from maturities of held-to-maturity investments 102,740 131,187
Net cash provided by investing activities 7,654 20,049
Cash Flows From Financing Activities:    
Proceeds from the exercise of common stock options 113 54
Taxes paid related to net share settlement of equity awards (1,023) (101)
Repurchase and retirement of common stock (244) 0
Net cash used in financing activities (1,154) (47)
Effect of foreign exchange rate changes on cash balances (33) 20
Net decrease in cash and cash equivalents and restricted cash (655) (5,030)
Cash and cash equivalents and restricted cash - beginning 29,021 44,423
Cash and cash equivalents and restricted cash - ending 28,366 39,393
Reconciliation to the unaudited interim condensed consolidated balance sheets    
Cash and cash equivalents 26,308 37,348
Restricted cash 2,058 2,045
Total cash, cash equivalents and restricted cash 28,366 39,393
Non-cash investing and financing activities:    
New leases under ASC 842 entered into during the period 6,358 7,312
Common stock issued for settlement of earn-out [1] 3,022 1,785
Purchases of PPE and capitalized software in accounts payable and accrued expenses 3,633 0
Derecognition of ROU assets (6,367) 0
Derecognition of lease liabilities $ 6,367 $ 0
[1] Prior year amounts have been updated to conform to current period presentation.