v3.24.2.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss $ (44,970) $ (27,523)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities    
Depreciation and amortization 9,216 7,189
Deferred taxes 427 62
Provision for credit losses, net (54) (701)
Stock-based compensation 16,813 7,365
Non-cash lease expense and lease impairment charges 914 457
Amortization of loan origination fees 4,183 4,126
Payment in kind interest expense 6,498 2,807
Gain on termination of lease (458) (337)
Unrealized (gain) loss on foreign currency exchange derivatives (570) 129
Change in the estimated fair value of earn-out consideration and warrants 1,262 329
Payment of earn-out consideration in excess of acquisition date fair value (1,873) 0
Changes in operating assets and liabilities:    
Contract assets (4,871) (8,795)
Prepaid expenses and other current assets 787 494
Other non-current assets (419) (377)
Accrued expenses and other liabilities 1,357 (262)
Deferred revenue (1,780) (985)
Operating lease liabilities (853) (608)
Net cash provided by (used in) operating activities 11,062 (12,406)
Cash flows from investing activities    
Capital expenditures (7,785) (4,474)
Cash paid for acquisitions, net of cash acquired (139) (21,919)
Purchase of restricted short term investments 0 (231)
Net cash used in investing activities (7,924) (26,624)
Cash flows from financing activities    
Repayment of debt (1,900) (2,063)
Payment of preferred stock offering costs (28) 0
Loan origination fee for long term debt (79) (615)
Payments of tax on vested restricted stock units (793) 0
Proceeds from common stock issued in connection with employee stock purchase plan 84 0
Payment of earn-out consideration up to acquisition date fair value (2,460) 0
Payment of deferred consideration for Interep acquisition (120) 0
Payment of offering costs 0 (3,672)
Proceeds from long term debt 0 15,000
Net cash (used in) provided by financing activities (5,296) 8,650
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (1,523) 528
Net decrease in cash, cash equivalents, and restricted cash (3,681) (29,852)
Cash, cash equivalents, and restricted cash at beginning of period 34,666 78,841
Cash, cash equivalents and restricted cash at end of period 30,985 48,989
Supplemental cash flow information    
Cash paid for interest 5,472 5,476
Cash paid for income taxes, net of refunds 244 85
Cash paid for LBF US divestiture and transition service expense 702 0
Non-cash financing and investing activities    
Increase to operating right-of-use assets and lease liabilities from new operating leases and lease modifications 1,720 246
Unpaid offering costs 365 0
Unpaid preferred stock offering costs 228 0
Unpaid loan origination fee for long term debt 1,500 0
Property and equipment included in accounts payable 1,822 22
Deferred consideration in connection with acquisition of Interep 0 683
Shares withheld for tax withholding on vesting of restricted stock units 783 1,015
Accrued Series A preferred stock dividend 7,742 5,164
Unpaid consideration in connection with Tailor asset acquisition 501 0
Interest capitalized for software development 326 123
Related Party    
Changes in operating assets and liabilities:    
Accounts receivable and amounts receivable from related parties (16) 0
Amounts payable to related parties and accounts payable 0 25
Nonrelated Party    
Changes in operating assets and liabilities:    
Accounts receivable and amounts receivable from related parties 12,189 (20,468)
Amounts payable to related parties and accounts payable 13,280 24,667
Common Class A | Orinter    
Non-cash financing and investing activities    
Issuance of stock 0 19,134
Earnout Shares | Orinter    
Non-cash financing and investing activities    
Issuance of stock $ 0 $ 7,629