v3.25.4
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Operating activities          
Net loss $ (303,689) $ (128,884) $ (354,066) $ (151,184)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation     14,761 15,311  
Amortization     32,172 39,544  
Stock-based compensation     814 4,262  
Deferred income taxes     (85) 5,587  
Impairment of goodwill 263,394 105,302 263,394 105,302 $ 105,302
Paid-in-kind interest     15,084 0  
Amortization of deferred financing costs and debt discount     10,906 2,858  
Equity in net loss of investee     1,556 1,690  
Reduction of right-of-use assets     5,637 4,919  
Changes in operating assets and liabilities:          
Accounts receivable and other receivables     (37,184) (12,621)  
Contract receivables     2,174 (15,386)  
Prepaid expenses and other current assets     (13,414) (14,664)  
Short-term deposits     (30,847) 0  
Long-term contract receivables     0 (6,512)  
Accrued contract payables     (1,111) (30,594)  
Accounts payable and accrued expenses     8,349 (668)  
Accrued transportation costs     (16,622) 10,528  
Other changes in operating assets and liabilities     (5,824) (4,098)  
Net cash used in operating activities     (104,306) (45,726)  
Investing activities          
Purchase of property and equipment     (10,710) (14,553)  
Net cash used in investing activities     (10,710) (14,553)  
Financing activities          
Net proceeds from Revolving Credit Facility     0 69,200  
Issuance of short-term debt     75,000 0  
Issuance of long-term debt     30,000 0  
Repayment of debt     (2,625) 0  
Payment of debt issuance costs     (10,787) (863)  
Other financing activities     89 242  
Net cash provided by financing activities     91,677 68,579  
Net change in cash, cash equivalents and restricted cash     (23,339) 8,300  
Cash, cash equivalents and restricted cash at beginning of period     113,116 2,782 2,782
Cash, cash equivalents and restricted cash at end of period $ 89,777 $ 11,082 89,777 11,082 $ 113,116
Supplemental cash flow information          
Cash paid for interest     45,599 35,656  
Cash paid for income taxes     17,668 6,513  
Assets acquired under operating leases (non-cash)     1,106 3,799  
Paid-in-kind debt transaction costs (non-cash)     $ 7,901 $ 0