v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2024
Jun. 30, 2024
Jun. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:                
Net loss $ (19,509) $ (59,712) $ (58,129) $ (77,142) $ (77,187) $ (116,863) $ (57,777) $ (4,285)
Adjustments to reconcile net income to net cash provided by operating activities:                
Depreciation           1,614 895 620
Amortization 10,938 22,275 20,920 33,441 31,485 48,610 42,203 21,545
Provision for bad debt           996 (893) (656)
Operating lease expense           2,165 2,732 1,567
Stock-based compensation           2,395 1,198 914
Fair value adjustment to debt           2,120 0 0
Other           (90) 0 0
Deferred tax provision (8,238) (7,350) (13,004) (12,392) (17,072) (16,306) (13,500) (21,115)
Impairment of long-lived assets           2,019 577 178
Impairment of goodwill     139,645   139,645 66,235 139,645 0
Gain (loss) on disposal of long-lived assets           0 2 (51)
Gain (loss) on disposal of intangibles           (135) 0 0
Gain (loss) on disposal of property, plant and equipment           28 0 40
Contingent consideration settlement           (1,020)    
Remeasurement of contingent consideration 2,064 4,164 (102,500) 2,264 (96,700) (22,436) (123,944) 8,000
Net foreign exchange (gain)/loss (54) (79) 922 793 588 (5,235) 1,059 28
Changes in operating assets and liabilities (net of the impact of acquisitions):                
Accounts receivable (3,644) (2,167) 2,653 3,096 3,936 (2,817) 7,533 209
Prepaid expenses and other current and non-current assets (615) (523)   (3,466)   (6,576) 2,296 (3,560)
Related party receivables   (429)   (1,139)   336 (2,248) (148)
Accounts payable           (2,648) (3,334) 2,652
Income taxes payable 361 223 2,057 1,479 2,834 7,949 3,122 1,767
Accrued expenses and other current liabilities (2,955) (691)   (273)   4,760 (1,215) (6,728)
Accrued compensation expenses           2,100 0 0
Operating lease liabilities with right of use           (3,183) (2,709) (1,699)
Contract liabilities 9,950 16,797   14,678   1,529 (8,366) (3,464)
Other liabilities 122 515 637 570 194 (1,400) 219 2,671
Related party payables         18,177 (29,001) 0 29,575
Net cash provided by (used in) operating activities (1,753) (31,067) 18,769 (35,647) 4,913 (64,854) (12,505) 28,060
Investing activities:                
Purchases of property and equipment, and other capitalized assets           (420) (2,589) (413)
Purchases of intangible assets           (6,339) (6,771) (2,951)
Purchase of investments           (289) 0 0
Acquisitions of business, net of acquired cash           (72,315) (47,830) (351,333)
Net cash used in investing activities           (79,363) (57,190) (354,697)
Financing activities:                
Cash pool arrangements with Parent 6,456 17,506 (15,549) 27,338 (1,493) 23,950 43,749 (9,949)
Contingent consideration settlement           (3,980)   (2,760)
Repayment of debt           0 0 (42,590)
Repayment of loans           (213) 0 0
Capital Contribution from Parent           351,574 0 0
Net transfers from Parent (4,055) 18,687   27,866   38,302 29,679 136,114
Proceeds from loans issued by Parent           0 0 250,213
Repayment of loans issued by Parent           0 0 (713)
Net cash provided by financing activities 2,401 32,213 (16,555) 51,011 53,489 409,633 73,428 330,315
Effect of exchange rate changes on cash and cash equivalents           (222) (86) (202)
Net increase in cash and cash equivalents           265,194 3,647 3,476
Cash and cash equivalents at beginning of year $ 10,789 $ 10,789 $ 7,142 $ 10,789 $ 7,142 10,789 7,142 3,666
Cash and cash equivalents at end of year           275,983 10,789 7,142
Supplemental disclosure of cash flow information:                
Cash paid for taxes by Parent           1,633 3,039 4,293
Cash paid for interest on related party loans           19,008 25,194 80
Schedule of non-cash investing and financing activities:                
Operating right-of-use assets obtained in exchange for new operating lease liabilities           226 1,295 423
Intangible asset purchases included in accrued expenses and other current liabilities           191 78 267
Debt capitalization through net parent investment           250,000 0 0
Loans capitalized through net parent investment           59,689 0 0
Capitalization of short-term debt           474,943 0 0
Common stock issued in connection with the acquisitions of business           592,707 0 0
Replacement awards issued in connection with acquisitions of business           $ 9,772 $ 0 $ 0