v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows provided by operating activities:    
Net income (loss) $ (3,471) $ (47,219)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, amortization and accretion 43,823 47,913
Stock-based compensation expense 6,292 2,380
Noncash consideration, net, associated with wholesale capacity contract (1,203) 0
Reduction in value of long-lived assets and inventory 0 541
Noncash interest and accretion expense 9,760 16,522
Unrealized foreign currency (gain) loss (4,008) 4,139
Write off of debt discount and deferred financing costs upon extinguishment of debt 10,194 0
Other, net (487) (424)
Changes in operating assets and liabilities:    
Accounts receivable (2,100) 3,737
Inventory 12 (1,840)
Prepaid expenses and other current assets (1,151) (227)
Other assets 42 605
Accounts payable and accrued expenses (3,445) (8,106)
Payables to affiliates (42) (33)
Other non-current liabilities 21 (370)
Deferred revenue (11,244) 3,153
Net cash provided by operating activities 42,993 20,771
Cash flows used in investing activities:    
Payments under the satellite procurement agreement (108,664) 0
Other network upgrades to support the Service Agreements (6,898) (18,511)
Payments of capitalized interest (5,263) 0
Network upgrades to support product development (3,422) (3,198)
Purchase of intangible assets (389) (683)
Net cash used in investing activities (124,636) (22,392)
Cash flows provided by financing activities:    
Proceeds from 2023 Funding Agreement 87,730 0
Dividends paid on Series A Preferred Stock (6,595) 0
Payments for debt issuance costs (8,530) 0
Proceeds from issuance of common stock and exercise of options 498 449
Net cash provided by financing activities 114,822 449
Effect of exchange rate changes on cash, cash equivalents and restricted cash 73 9
Net increase (decrease) in cash, cash equivalents and restricted cash 33,252 (1,163)
Cash, cash equivalents and restricted cash, beginning of period 32,082 14,304
Cash, cash equivalents and restricted cash, end of period 65,334 13,141
Reconciliation of cash and cash equivalents    
Cash and cash equivalents 65,334  
Total cash and cash equivalents cash shown in the statement of cash flows 65,334 13,141
Supplemental disclosure of cash flow information:    
Cash paid for interest 7,554 0
Supplemental disclosure of non-cash financing and investing activities:    
Increase in capitalized accrued interest for network upgrades 1,609 5,059
Capitalized accretion of debt discount and amortization of prepaid financing costs 1,772 754
Satellite construction assets acquired through vendor financing arrangement 0 73,575
Re-characterization of 2021 Funding Agreement to debt 87,950 0
2019 Facility Agreement    
Cash flows provided by financing activities:    
Principal and Interest payments of the 2019 Facility Agreement (148,281) 0
2023 13% Notes    
Cash flows provided by financing activities:    
Proceeds from 2023 13% Notes $ 190,000 $ 0