Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash Flows From Operating Activities:    
Net loss $ (27,307) $ (56,076)
Adjustments to reconcile net loss to net cash and restricted cash used in operating activities:    
Depreciation and amortization 5,962 7,111
Stock-based compensation 19,893 12,501
Change in fair value of warrant liabilities 850 (2,125)
Excess of lease liability over operating right-of-use assets (123) 0
Gain on lease modification (622) 0
Accretion of interest income on held-to-maturity securities (3,990) (6,519)
Deferred tax benefit (255) (1,466)
Impairment of intangible assets 5,759 20,753
Bad debt expense 335 163
Other (12) 46
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 6,352 (6,032)
Accounts receivable (998) (10,254)
Other non-current assets (70) 4
Operating right-of-use assets/lease liabilities 164 379
Accounts payable and accrued expenses (8,338) 9,049
Deferred revenue (119) 117
Net cash used in operating activities (2,519) (32,349)
Cash Flows From Investing Activities:    
Acquisitions, net of cash acquired (2,230) 0
Capitalized software development costs (2,119) 0
Investment in joint venture 0 (39)
Purchase of property and equipment (30,875) (2,109)
Proceeds from disposal of property and equipment 13 138
Purchase of short-term investments 0 (135)
Proceeds from sales of short-term investments 0 20,532
Purchase of held-to-maturity investments (143,255) (265,835)
Proceeds from maturities of held-to-maturity investments 177,450 264,537
Net cash (used in) / provided by investing activities (1,016) 17,089
Cash Flows From Financing Activities:    
Proceeds from the exercise of common stock options 168 70
Taxes paid related to net share settlement of equity awards (5,683) (146)
Repurchase and retirement of common stock (244) 0
Net cash used in financing activities (5,759) (76)
Effect of foreign exchange rate changes on cash balances (80) (66)
Net decrease in cash and cash equivalents and restricted cash (9,374) (15,402)
Cash and cash equivalents and restricted cash - beginning 29,021 44,423
Cash and cash equivalents and restricted cash - ending 19,647 29,021
Reconciliation to consolidated balance sheets    
Cash and cash equivalents 18,378 27,873
Restricted cash 1,269 1,148
Total cash, cash equivalents and restricted cash 19,647 29,021
Supplemental cash flow information    
Income taxes 0 16
Non-cash investing and financing activities:    
New leases under ASC 842 entered into during the period 8,406 9,760
Common stock issued for settlement of earn-out 3,022 1,785
Purchases of PPE and capitalized software in accounts payable and accrued expenses 375 0
Modification of existing right-of-use assets ("ROU") and lease liability (Note 6) 12,684 0
Derecognition of ROU assets and lease liability $ (6,367) $ 0