v3.24.1.1.u2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (125,147) $ (26,214)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 2,439 1,986
Amortization of debt issuance costs 506 500
Equity-based compensation expense 5,157 3,805
Goodwill impairment 85,000 0
Non-cash lease expense 94 (35)
Provision for doubtful accounts 171 882
Deferred income tax (benefit) expense (23) 54
Net increase in fair value of derivatives 23,992 10,567
Loss on sale of property and equipment 0 8
Changes in assets and liabilities:    
(Increase) in accounts receivable (8,957) (3,469)
Decrease (increase) in contract assets 2,443 (1,115)
Decrease in prepaid expenses and other assets 950 1,488
(Decrease) in accounts payable (5,960) (4,914)
Increase in accrued liabilities 2,599 4,066
Increase in contract liabilities 1,826 325
Increase in other liabilities 551 49
Net cash used in operating activities (14,359) (12,017)
Cash flows from investing activities:    
Acquisition of business, net of cash acquired 13,935 0
Purchases of property and equipment (38) 0
Capitalized software development costs (1,643) 0
Net cash provided by investing activities 12,254 0
Cash flows from financing activities:    
Proceeds from issuance of shares for exercised RDO and PIPE warrants 53,809 0
Proceeds from issuance of Private Placement shares 0 25,000
Payment of Private Placement transaction costs 0 (3,025)
Repayment of short-term borrowings (403) (763)
Proceeds from exercise of options 86 0
Payments of tax withholding from the issuance of common stock (2,532) 0
Net cash provided by financing activities 50,960 21,212
Net increase in cash and cash equivalents 48,855 9,195
Cash and cash equivalents at the beginning of period 32,557 12,632
Cash and cash equivalents at the end of the period 81,412 21,827
Supplemental schedule of non-cash investing and financing activities:    
Issuance of common stock as consideration for Pangiam acquisition $ 207,776 $ 0

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