v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization $ 44,238 $ 17,178 $ 7,732
Amortization of leases 1,697 818 2,170
Amortization of deferred financing costs 988 924 1,052
Equity-based compensation 50,429 27,614 19,053
Change in fair value of warrants (4,044) (971) (8,227)
Loss on asset disposals 277 685 369
Change in fair value of derivative asset 800 (536) 0
Deferred income tax expense (benefit) 1,246 (44,859) (1,853)
Non-cash interest income - net (890) (261) 0
Unrealized foreign currency loss (gain) 4,056 (2,177) 0
Change in fair value of contingent consideration 0 (998) (2,065)
Adjustment of liabilities under TRA (6,166) 574 0
Loss on extinguishment of debt 0 0 4,285
Changes in operating assets and liabilities:      
Accounts receivable - net 9,776 (17,129) (329)
Inventory - net 1,413 (8,184) (1,010)
Prepaid expenses and other current assets 1,161 (1,176) 42,894
Accounts payable (23,691) 53,817 (30,779)
Accrued expenses and other current liabilities (30,164) 1,336 (94,415)
Deferred revenue (10,870) 827 6,844
Long-term Lease Liabilities (994) 0 0
Other assets and liabilities - net 358 6,697 (3,978)
Net cash provided by operating activities 53,922 147,320 14,375
Cash flows from investing activities      
Purchases of property and equipment (4,227) (895) (3,558)
Purchases of personal seat licenses (737) (542) (165)
Investments in developed technology (19,014) (11,339) (11,684)
Disbursement of 2024 Sponsorship Loan (2,000) 0 0
Payments of Acquired Domain Name Obligation (417) 0 0
Transfer of cash consideration during Acquisitions, net of cash acquired 0 (206,865) (8)
Investment in Note and Warrant 0 (6,000) 0
Net cash used in investing activities (26,742) (225,641) (15,415)
Cash flows from financing activities      
Repurchases of Class A common stock (22,982) (20,092) (32,494)
Tax distributions to redeemable noncontrolling interests (10,014) (14,304) (5,245)
Payments of Shoko Chukin Bank Loan (2,655) (279) 0
Payments of deferred financing costs and other debt-related expenses (315) 0 (4,856)
Payments of taxes related to net settlement of equity incentive awards (714) 0 0
Payment of liabilities under TRA (77) 0 0
Cash paid for milestone payments 0 (6,005) (1,111)
Net cash provided by (used in) financing activities 86,079 (43,430) (236,480)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (1,045) 1,895 0
Net increase (decrease) in cash and cash equivalents and restricted cash 112,214 (119,856) (237,520)
Cash, cash equivalents, and restricted cash - beginning of period 132,434 252,290 489,810
Cash, cash equivalents, and restricted cash - end of period 244,648 132,434 252,290
Supplemental disclosure of cash flow information:      
Cash paid for interest 19,498 19,330 14,794
Cash paid for income tax 5,469 4,021 0
Cash paid for operating lease liabilities 3,377 1,165 3,113
Equity-based compensation expense related to capitalized development costs 766 428 79
Right-of-use assets obtained in exchange for operating lease liabilities 4,663 0 3,406
Property and equipment acquired through tenant improvement allowance 651 0 6,472
Domain obtained through Acquired Domain Name Obligation 17,348 0 0
Reduction of deferred tax assets under the repurchases of Class A common stock, net of tax impacts 1,952 0 0
Transfer of non-cash consideration during Vegas.com Acquisition 0 95,497 0
Establishment of liabilities under TRA 0 165,202 0
Establishment of deferred tax assets under 2023 Secondary Offerings and other equity transactions 0 67,073 0
Seat Images [Member]      
Cash flows from investing activities      
Purchases of seat images (347) 0 0
Hoya Intermediate, LLC      
Cash flows from operating activities      
Net income 14,302 113,141 70,779
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 44,238 17,178 7,732
Change in fair value of contingent consideration 0 (998) (2,065)
Loss on extinguishment of debt 0 0 (4,285)
2024 First Lien Loan      
Cash flows from financing activities      
Payments of Loan (1,975) 0 0
Proceeds from 2024 First Lien Loan 125,500 0 0
2017 Term Loans      
Cash flows from financing activities      
Payments of Loan 0 0 (465,712)
2022 First Lien Loan      
Cash flows from financing activities      
Payments of Loan (689) (2,750) (2,062)
Proceeds of Loan $ 0 $ 0 $ 275,000