v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 100,704 $ 87,126
Restricted cash 6,002 5,521
Available for sale investments, at fair value (amortized cost of $249,050 at March 31, 2026 and $200,468 at December 31, 2025) 248,682 200,461
Accounts receivable, less allowance for credit losses of $438 as of March 31, 2026 and $438 as of December 31, 2025 22,807 22,703
Contract assets 874 218
Prepaid expenses and other current assets 14,946 14,514
Total current assets 394,015 330,543
Non-current assets:    
Property and equipment, net 1,736 1,562
Goodwill 238,737 241,100
Intangible assets, net 137,421 139,470
Available for sale investments, at fair value (amortized cost of $82,363 at March 31, 2026 and $173,789 at December 31, 2025) 82,066 173,949
Right-of-use assets 6,830 7,063
Other non-current assets 859 860
Total assets 861,664 894,547
Current liabilities:    
Accounts payable 4,234 6,088
Current portion of long-term debt, net 16,601 16,560
Accrued liabilities 15,568 19,649
Contract liabilities 11,272 14,756
Current portion of long-term lease liability 1,013 1,095
Derivative liabilities 9,982 116,906
Other current liabilities 6,094 10,466
Total current liabilities 64,764 185,520
Non-current liabilities:    
Long-term debt, net 0 90,484
Long-term lease liability 6,495 6,673
Total liabilities 71,259 282,677
Commitments and contingencies (Note 14)
Stockholders’ equity    
Common stock, par value $0.0001; 500,000,000 shares authorized and 477,014,064 shares issued and outstanding at March 31, 2026 and 446,908,458 shares issued and 436,955,655 shares outstanding at December 31, 2025 49 46
Additional paid-in capital 1,713,437 1,534,792
Treasury stock, at cost; zero shares at March 31, 2026 and 9,952,803 shares at December 31, 2025 0 (57,350)
Accumulated deficit (922,318) (865,555)
Accumulated other comprehensive loss (763) (63)
Total stockholders’ equity 790,405 611,870
Total liabilities and stockholders’ equity $ 861,664 $ 894,547

Source

HTML PDF
ZIP