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
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows From Operating Activities:    
Net income (loss) $ (17,514) $ (22,135)
Adjustments to reconcile net loss to net cash and restricted cash used in operating activities:    
Depreciation and amortization 4,432 5,305
Stock-based compensation 15,367 9,348
Change in fair value of warrant liabilities (2,266) (3,823)
Excess of lease liability over operating right-of-use assets (123) 0
Gain on lease modification (75) 0
Realized loss from sales of short-term investments 0 95
Realized foreign exchange loss 0 6
Accretion of interest income on held-to-maturity securities (3,120) (4,716)
Deferred tax benefit (150) (443)
Impairment of intangible assets 5,759 0
Gain on disposal of property and equipment (6) 0
Bad debt expense 168 171
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 8,312 (1,104)
Accounts receivable (3,611) (10,379)
Other non-current assets 492 (8)
Operating right-of-use assets/lease liabilities 81 421
Accounts payable and accrued expenses (8,336) 4,086
Deferred revenue (177) 147
Net cash used in operating activities (767) (23,029)
Cash Flows From Investing Activities:    
Acquisitions, net of cash acquired (2,230) 0
Capitalized software development costs (1,660) 0
Purchase of property and equipment (26,292) (2,085)
Proceeds from disposal of property and equipment 6 0
Purchase of short-term investments 0 (135)
Proceeds from sales of short-term investments 0 20,532
Purchase of held-to-maturity investments (142,766) (265,835)
Proceeds from maturities of held-to-maturity investments 167,950 264,537
Net cash (used in) / provided by investing activities (4,992) 17,014
Cash Flows From Financing Activities:    
Proceeds from the exercise of common stock options 124 63
Taxes paid related to net share settlement of equity awards (1,765) (116)
Repurchase and retirement of common stock (244) 0
Net cash used in financing activities (1,885) (53)
Effect of foreign exchange rate changes on cash balances 29 (81)
Net decrease in cash and cash equivalents and restricted cash (7,615) (6,149)
Cash and cash equivalents and restricted cash - beginning 29,021 44,423
Cash and cash equivalents and restricted cash - ending 21,406 38,274
Reconciliation to the unaudited interim condensed consolidated balance sheets    
Cash and cash equivalents 20,028 36,815
Restricted cash 1,378 1,459
Total cash, cash equivalents and restricted cash 21,406 38,274
Non-cash investing and financing activities:    
New leases under ASC 842 entered into during the period 8,545 8,920
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 3,479 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.