Quarterly report [Sections 13 or 15(d)]

Unaudited Interim Condensed Consolidated Statements of Cash Flows

v3.25.2
Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows From Operating Activities:    
Net loss $ (7,236) $ (15,560)
Adjustments to reconcile net loss to net cash and restricted cash used in operating activities:    
Depreciation and amortization 3,473 3,153
Stock-based compensation 9,566 9,965
Change in fair value of warrant liabilities (2,829) (2,565)
Excess of lease liability over operating right-of-use assets 0 (123)
Gain on lease modification 0 (53)
Accretion of interest income on held-to-maturity securities (1,508) (2,297)
Deferred tax benefit 4 (32)
Impairment of intangible assets 0 5,759
Bad debt expense 385 202
Other 43 4
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,650) 5,958
Accounts receivable (6,777) (6,967)
Other non-current assets 74 466
Operating right-of-use assets/lease liabilities (61) 39
Accounts payable and accrued expenses 914 (7,525)
Deferred revenue 2,292 2,454
Net cash used in operating activities (3,310) (7,122)
Cash Flows From Investing Activities:    
Capitalized software development costs (961) (1,056)
Purchase of property and equipment (4,918) (16,979)
Proceeds from disposal of property and equipment 69 0
Purchase of held-to-maturity investments (96,403) (77,051)
Proceeds from maturities of held-to-maturity investments 151,300 102,740
Net cash provided by investing activities 49,087 7,654
Cash Flows From Financing Activities:    
Proceeds from the exercise of common stock options 74 113
Taxes paid related to net share settlement of equity awards (5,457) (1,023)
Repurchase and retirement of common stock 0 (244)
Net cash used in financing activities (5,383) (1,154)
Effect of foreign exchange rate changes on cash balances 277 (33)
Net increase (decrease) in cash and cash equivalents and restricted cash 40,671 (655)
Cash and cash equivalents and restricted cash - beginning 19,647 29,021
Cash and cash equivalents and restricted cash - ending 60,318 28,366
Reconciliation to unaudited interim condensed consolidated balance sheets    
Cash and cash equivalents 58,754 26,308
Restricted cash 1,564 2,058
Total cash and cash equivalents and restricted cash 60,318 28,366
Cash paid for:    
Income Taxes paid 23 0
Non-cash investing and financing activities:    
New leases under ASC 842 entered into during the period 1,200 6,358
Common stock issued for settlement of earn-out previously in accounts payable and accrued expenses 0 3,022
Purchases of property and equipment and capitalized software in accounts payable and accrued expenses 234 3,633
Derecognition of ROU assets and lease liability $ 0 $ (6,367)