v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income (loss) $ 16,239 $ (21,275)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation and amortization 220 57
Non-cash lease expense 266 622
Share-based compensation expense 3,343 8,013
Forfeiture and cancellation of common units 0 288
Gain on lease assignment (1,755) 0
Gain from change in fair value of warrant liability (32,247) (9,046)
Changes in operating assets and liabilities:    
Accounts receivable (3,593) (6,288)
Prepaid insurance 1,435 3,876
Accounts payable and accrued liabilities (1,810) 10,865
Due to related party (150) (720)
Deferred revenue (362) (1,327)
Operating lease liabilities (1,803) (957)
Customer funds payable (76,563) 55,240
Assets and liabilities of businesses held for sale (3,457) 0
Other assets and liabilities (1,044) (995)
Net cash (used in) provided by operating activities (101,281) 38,353
Cash flows from investing activities:    
Capitalized internal-use software development costs and other capital expenditures (130) (1,771)
Purchase of available-for-sale securities 0 (17,996)
Proceeds from the settlement of available-for-sale securities 0 17,463
Net cash used in investing activities (130) (2,304)
Cash flows from financing activities:    
Proceeds from Concurrent Offerings, net of issuance costs 0 38,964
Proceeds from the exercise of warrants 1 0
Withholding tax payments on net share settlements on equity awards (906) (2,259)
Proceeds from borrowings on revolving credit facility 5,000 0
Net cash provided by financing activities 4,095 36,705
Effect of exchange rate changes 29 (421)
Net (decrease) increase in cash, cash equivalents, restricted cash, customer funds and deposits (97,287) 72,333
Cash, cash equivalents, restricted cash, customer funds and deposits at the beginning of the period 153,746 118,498
Cash, cash equivalents, restricted cash, customer funds and deposits at the end of the period 56,459 190,831
Supplemental disclosure of non-cash investing and financing activity:    
Capitalized internal-use software development costs and other capital expenditures included in accounts payable and accrued liabilities 0 455
Reconciliation of cash, cash equivalents, restricted cash, customer funds and deposits to consolidated balance sheets:    
Cash and cash equivalents 23,010 56,600
Restricted cash 19,754 44,008
Customer funds 12,003 88,165
Deposits (Note 6) 1,692 2,058
Total cash, cash equivalents, restricted cash and customer funds $ 56,459 $ 190,831