v3.25.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 107,610 $ 50,141
Accounts receivable, less allowance for credit losses of $127 as of March 31, 2025 and $127 as of December 31, 2024 34,565 38,953
Contract assets 512 895
Prepaid expenses and other current assets 5,547 3,768
Total current assets 148,234 93,757
Non-current assets:    
Property and equipment, net 1,454 1,566
Goodwill 119,081 119,081
Intangible assets, net 117,600 119,119
Right-of-use assets 8,893 9,263
Other non-current assets 1,006 990
Total assets 396,268 343,776
Current liabilities:    
Accounts payable 3,936 8,455
Short-term debt, including current portion of long-term debt 818 818
Accrued liabilities 20,734 19,496
Contract liabilities 3,017 2,541
Current portion of long-term lease liability 1,091 1,068
Derivative liabilities 57,449 170,515
Other current liabilities 2,070 73
Total current liabilities 89,115 202,966
Non-current liabilities:    
Long-term debt, net 100,588 135,404
Long-term lease liability 8,770 9,120
Total liabilities 198,473 347,490
Commitments and contingencies (Note 14)
Stockholders’ equity (deficit):    
Common stock, par value $0.0001; 500,000,000 shares authorized and 289,052,369 shares issued and outstanding at March 31, 2025 and 251,554,378 shares issued and outstanding at December 31, 2024 31 26
Additional paid-in capital 888,608 625,130
Treasury stock, at cost 9,952,803 shares at March 31, 2025 and December 31, 2024 (57,350) (57,350)
Accumulated deficit (633,627) (571,641)
Accumulated other comprehensive income 133 121
Total stockholders’ equity (deficit) 197,795 (3,714)
Total liabilities and stockholders’ equity (deficit) $ 396,268 $ 343,776

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