v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income (loss) $ (9,786) $ (21,346)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Share-based compensation 2,803 1,783
Depreciation and amortization 2,963 2,732
Amortization of intangible assets 23,514 23,514
Amortization of debt discount and issuance costs 998 1,262
Deferred tax liability 1,057 0
Non-cash lease expense 1,025 988
Operating lease impairment charges 710 0
Other non-cash items (271) (67)
Changes in assets and liabilities:    
Accounts receivable (1,444) (8,955)
Commissions receivable 52,979 68,616
Prepaid expenses and other assets 9,557 28,992
Accounts payable 5,705 (11,932)
Accrued liabilities (39,105) (33,242)
Deferred revenue (30,051) (13,680)
Commissions payable (29,057) (16,936)
Operating lease liabilities (1,385) (1,838)
Other liabilities (2,617) (7,379)
Net cash provided by (used in) operating activities (12,405) 12,512
Investing Activities    
Purchases of property, equipment and software (3,048) (4,556)
Net cash provided by (used in) investing activities (3,048) (4,556)
Financing Activities    
Repayment of borrowings (2,375) 0
Repurchase of shares to satisfy employee tax withholding obligations (822) (942)
Proceeds from stock option exercises 1 0
Net cash provided by (used in) financing activities (3,196) (942)
Effect of exchange rate changes on cash and cash equivalents (119) (5)
Increase (decrease) in cash and cash equivalents (18,768) 7,009
Cash and cash equivalents at beginning of period 40,921 90,809
Cash and cash equivalents at end of period $ 22,153 $ 97,818