v3.24.3
Unaudited Condensed Consolidated Statements of Cash Flows
$ in Thousands
 9 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Cash flows from operating activities    
Net loss $ (38,204) $ (36,919)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities    
Depreciation and amortization 148,635 131,780
Stock-based compensation 47,400 6,505
Provision for bad debt expense 1,642 1,614
Loss on extinguishment of debt 20,277  
Deferred income taxes (57,984) (47,126)
Amortization of debt discount and issuance costs 3,301 7,907
Other (99)  
Changes in:    
Accounts receivable (13,445) (5,101)
Income tax refundable 2,227 (619)
Prepaid expenses and other current assets (1,714) (6,238)
Deferred costs (14,389) (10,586)
Other long-term assets (515) (33)
Accounts payable and accrued expenses 9,366 231
Deferred revenue (1,256) (257)
Operating lease right-of-use assets and lease liabilities (244) (1,199)
Other long-term liabilities   45
Net cash provided by operating activities 104,998 40,004
Cash flows from investing activities    
Purchase of property and equipment and capitalization of internally developed software costs (21,044) (15,726)
Acquisitions, net of cash and cash equivalents acquired   (30,027)
Net cash used in investing activities (21,044) (45,753)
Cash flows from financing activities    
Change in aggregated funds liability 7,433 458
Proceeds from equity offering, net of underwriting discounts 1,017,074  
Payments of third-party IPO issuance costs (3,372)  
Repurchase of shares (844) (688)
Proceeds from exercise of common stock options 1,488 284
Proceeds from issuances of debt, net of creditor fees 545,209  
Payments on debt (1,550,002) (13,487)
Third-party fees paid in connection with issuance of new debt (1,410)  
Finance lease liabilities paid (611) (599)
Net cash provided by (used in) financing activities 14,965 (14,032)
Increase in cash and cash equivalents during the period 98,919 (19,781)
Cash and cash equivalents and restricted cash-beginning of period 45,428 72,636
Cash and cash equivalents and restricted cash-end of period 144,347 52,855
Supplemental disclosures of cash flow information    
Interest paid 101,189 143,685
Cash taxes paid (refunds received), net 38,558 36,654
Non-cash investing and financing activities    
Fixed asset purchases in accounts payable 586 (502)
Unpaid third-party IPO issuance costs 50  
Balance sheet    
Cash and cash equivalents 127,125 44,450
Restricted cash 17,222 8,405
Total $ 144,347 $ 52,855