v3.24.2.u1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 23,337 $ 27,994
Restricted cash and short-term investments 8,951 7,993
Contract assets, net of allowance of $7 and $7 as of June 30, 2024 and December 31, 2023, respectively 15,459 13,228
Prepaid expenses and other current assets 6,732 7,250
Total current assets 148,885 173,097
Property and equipment, net 23,831 17,311
Goodwill 82,758 88,056
Intangible assets, net 92,288 102,029
Amounts receivable from related parties, excluding current portion 0 43
Operating lease right-of-use assets 4,024 3,232
Deferred income taxes 752 752
Other non-current assets 10,266 7,871
TOTAL ASSETS 362,804 392,391
Current liabilities    
Government loans, current portion 20 66
Accrued expenses and other current liabilities 25,853 25,115
Earn-out liability, net, current portion 4,013 4,843
Deferred revenue, current portion 5,213 5,686
Long-term debt, current portion 5,182 10,828
Total current liabilities 162,160 161,569
Deferred income taxes 8,473 12,334
Note payable to related party 203 201
Government loans, excluding current portion 127 142
Earn-out liability, net, excluding current portion 2,116 4,322
Warrant liability 102 137
Long-term debt, excluding current portion 164,104 150,679
Deferred revenue, excluding current portion 10,490 11,797
Operating lease liabilities, excluding current portion 2,825 2,561
Other long-term liabilities 8,088 8,073
Total liabilities 358,688 351,815
Commitments and contingencies (Note 10)
Redeemable preferred stock    
Series A preferred stock – 250,000,000 shares authorized, $0.0001 par value, 96,300 shares issued and outstanding as of June 30, 2024 and December 31, 2023 (liquidation preference $117,921 and $110,180 as of June 30, 2024 and December 31, 2023, respectively) 115,734 105,804
Stockholders’ deficit    
Common stock – 500,000,000 Class A and 250,000,000 Class C shares authorized, $0.0001 par value, 86,034,886 and 83,252,040 Class A shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 9 8
Treasury stock – 4,623,532 and 4,623,532 shares of Class A Common Stock as of June 30, 2024 and December 31, 2023, respectively (32,088) (32,088)
Additional paid-in capital 312,770 306,326
Accumulated other comprehensive (losses) gains (6,267) 1,598
Accumulated deficit (386,042) (341,072)
Total stockholders’ deficit (111,618) (65,228)
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT $ 362,804 $ 392,391
Common Class A    
Stockholders’ deficit    
Common stock shares issued (in shares) 86,034,886 83,252,040
Total shares outstanding prior to and immediately after Business Combination (in shares) 86,034,886 83,252,040
Nonrelated Party    
Current assets    
Accounts receivable, net of allowance and amounts receivable from related parties, current portion $ 94,347 $ 116,632
Current liabilities    
Accounts payable 121,838 114,989
Related Party    
Current assets    
Accounts receivable, net of allowance and amounts receivable from related parties, current portion 59 0
Current liabilities    
Accounts payable $ 41 $ 42