v3.24.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (149,060) $ (39,110)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 8,740 5,936
Amortization of debt issuance costs 1,517 1,512
Equity-based compensation expense 16,074 12,592
Goodwill impairment 85,000 0
Non-cash lease expense 553 450
Provision for doubtful accounts 220 1,607
Deferred income tax (benefit) expense (37) 53
Net increase in fair value of derivatives 14,832 (1,971)
Loss on sale of property and equipment 0 10
Changes in assets and liabilities:    
Increase in accounts receivable (5,396) (546)
Decrease in contract assets 3,078 860
Decrease in prepaid expenses and other assets 1,540 6,181
Decrease in accounts payable (8,224) (6,346)
Increase in accrued liabilities 7,610 2,035
Increase in contract liabilities 486 298
Decrease in other liabilities (246) (1,794)
Net cash used in operating activities (23,313) (18,233)
Cash flows from investing activities:    
Acquisition of business, net of cash acquired 13,935 0
Purchases of property and equipment (304) (2)
Capitalized software development costs (7,396) (2,744)
Net cash provided by (used in) investing activities 6,235 (2,746)
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 and Registered Direct Offering shares 0 50,000
Payment of Private Placement and Registered Direct Offering transaction costs 0 (5,724)
Repayment of short-term borrowings (1,229) (2,059)
Issuance of common stock upon ESPP purchase 607 531
Proceeds from exercise of options 119 0
Payments of tax withholding from the issuance of common stock (3,143) (2,217)
Net cash provided by financing activities 50,163 40,531
Effect of foreign currency rate changes on cash and cash equivalents (58) 0
Net increase in cash and cash equivalents 33,027 19,552
Cash and cash equivalents at the beginning of period 32,557 12,632
Cash and cash equivalents at the end of the period 65,584 32,184
Supplemental schedule of non-cash investing and financing activities:    
Issuance of common stock as consideration for Pangiam acquisition $ 210,757 $ 0

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