v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 13,715 $ 21,845
Restricted cash 13,072 13,160
Accounts receivable, net 2,944 3,767
Accounts receivable, net – related parties 0 883
Prepaid member travel 12,229 13,663
Prepaid expenses 2,486 3,116
Other current assets 1,423 1,949
Total current assets 45,869 58,383
Right-of-use assets 147,323 175,228
Goodwill 21,233 21,233
Property and equipment, net 9,848 14,079
Other noncurrent assets 4,013 4,962
Total assets 228,286 273,885
Current liabilities    
Deferred revenue 117,668 135,347
Lease liabilities 50,053 53,488
Total current liabilities 193,350 211,856
Deferred revenue, noncurrent 35,072 36,147
Lease liabilities, noncurrent 106,481 130,239
Convertible note 24,081 22,336
Other noncurrent liabilities 3,279 3,159
Total liabilities 362,263 403,737
Commitments and contingencies (Note 14)
Equity (Deficit)    
Preferred Stock, par value $0.0001 per share, 5,000 shares authorized, no shares issued or outstanding as of September 30, 2025 and December 31, 2024 0 0
Additional paid-in capital 165,410 161,323
Accumulated deficit (299,388) (291,176)
Total deficit (133,977) (129,852)
Total liabilities and deficit 228,286 273,885
Non Related Party    
Current liabilities    
Accounts payable and accrued liabilities 25,342 23,021
Related Party    
Current assets    
Accounts receivable, net 900 900
Current liabilities    
Accounts payable and accrued liabilities 287 0
Class A Common Stock    
Equity (Deficit)    
Common stock, value 1 1
Class B Common Stock    
Equity (Deficit)    
Common stock, value 0 0
Class V Common Stock    
Equity (Deficit)    
Common stock, value $ 0 $ 0