Quarterly report [Sections 13 or 15(d)]

Unaudited Interim Condensed Consolidated Statements of Cash Flows

v3.26.3
Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash Flows From Operating Activities:    
Net income (loss) $ (15,977) $ 50,180
Adjustments to reconcile net income (loss) to net cash and restricted cash provided by / (used in) operating activities:    
(Gain) loss on sale of business 344 (60,435)
Depreciation and amortization 18,887 5,177
Stock-based compensation 13,790 11,246
Change in fair value of warrant liabilities (1,530) (2,862)
Change in fair value of assets and other liabilities 4,715 0
Transaction costs paid related to sale of business 0 (5,964)
Acquisition consideration allocated to seller transaction expenses 0 (44,339)
Realized loss from sale of short-term investments 1,281 5,195
Realized foreign exchange gain 0 (798)
Accretion of interest income on held-to-maturity securities (506) (1,732)
Deferred tax expense (benefit) (96) 558
Non-cash capital contribution 672 0
Other 315 388
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,301) 776
Accounts receivable 839 (8,551)
Other non-current assets 79 666
Operating right-of-use assets/lease liabilities 136 (90)
Accounts payable and accrued expenses (2,591) 8,395
Deferred revenue (27) 1,583
Net cash provided by / (used in) operating activities 19,030 (40,607)
Cash Flows From Investing Activities:    
Acquisitions, net of cash acquired (35,818) (65,174)
Cash transfer related to sale of business (290) (1,241)
Capitalized software development costs (1,031) (1,258)
Purchase of property and equipment, net of proceeds from disposal (8,069) (7,747)
Purchase of held-to-maturity investments (6,254) (146,258)
Proceeds from maturities of held-to-maturity investments 30,500 203,000
Proceeds from sale of short-term investments 15,271 70,163
Net cash (used in) / provided by investing activities (includes discontinued operations; see Note 5) (5,691) 51,485
Cash Flows From Financing Activities:    
Proceeds from the exercise of common stock options 59 139
Taxes paid related to net share settlement of equity awards (8,874) (7,309)
Payments for debt issuance costs (355) 0
Net cash used in financing activities (9,170) (7,170)
Effect of foreign exchange rate changes on cash balances 0 (339)
Net increase in cash and cash equivalents and restricted cash 4,169 3,369
Cash and cash equivalents and restricted cash - beginning 31,232 19,647
Cash and cash equivalents and restricted cash - ending 35,401 23,016
Reconciliation to consolidated balance sheets    
Cash and cash equivalents 35,136 22,753
Restricted cash 265 263
Total cash and cash equivalents and restricted cash 35,401 23,016
Supplemental cash flow information    
Income taxes paid 584 23
Non-cash investing and financing activities:    
Common stock received for sale of business 16,551 75,357
Contingent consideration and indemnity holdback receivable from sale of business in contingent consideration and other non-current assets, respectively 0 36,233
New leases under ASC 842 entered into during the period 1,317 1,597
Contingent consideration in accounts payable and accrued expenses and other current and non-current liabilities 3,302 9,215
Common stock issued for acquisition 4,267 8,414
Return of escrowed share consideration previously in accounts payable and accrued expenses 1,989 0
Reclassification of escrowed share consideration from accounts payable and accrued expenses to equity 3,366 0
Purchases of property and equipment and capitalized software in accounts payable and accrued expenses 574 518
Non-cash proceeds from disposal of property and equipment included in other current assets $ 100 $ 0