v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2025
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities        
Net loss $ (8,515) $ (50,987) $ (5,675) $ (6,754)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:        
Non-controlling interest 11 18 35 2
Gain on bargain purchase 0 0 (9,034) 0
Inventory write-downs 59 4,480 1,500 149
Stock-based compensation expense 1,028 9,362 3,908 4,343
Depreciation and amortization 1,943 47,494 9,445 8,262
Right-of-use assets, non-cash lease expense 763 5,007 2,814 2,756
Derivative mark-to-market adjustment 0 (504) 0 0
Bad debts expense 970 9,418 1,767 66
Deferred income taxes 97 (4,872) (6) 708
Shares issued for transaction bonuses 0 889 0 0
Lease termination and modification losses 0 295 0 0
Other non-cash items (112) 1,061 103 707
Changes in operating assets and liabilities:        
Accounts receivable 746 (14,048) (1,460) (1,368)
Inventory 726 5,729 (1,743) (4,473)
Prepaid expenses and other current assets (1,440) 5,474 791 (816)
Deferred costs 41 (8,437) 679 1,608
Deferred revenue 112 1,748 (295) (627)
Accounts payable and accrued expenses 4,021 (12,162) 4,440 (533)
Lease liabilities (694) (4,558) (2,851) (2,739)
Accrued severance payable 36 1,248 (21) (42)
Net cash provided by (used in) operating activities (208) (3,345) 4,397 1,249
Cash flows from investing activities        
Acquisition, net of cash assumed 0 (137,112) 8,722 0
Purchase of investments 0 0 (100) (100)
Proceeds from sale of fixed assets 0 12 0 0
Capitalized software development costs (591) (13,782) (3,629) (2,219)
Capital expenditures (1,309) (20,008) (3,464) (4,011)
Repayment of loan advanced to external parties 0 294 0 0
Net cash (used in) provided by investing activities (1,900) (170,596) 1,529 (6,330)
Cash flows from financing activities        
Repayment of long-term debt (11,037) (2,642) (4,408) (5,659)
Short-term bank debt, net (10,030) 19,551 4,321 5,709
Purchase of treasury stock upon vesting of restricted stock (31) (2,836) (141) (211)
Repayment of financing lease 0 0 (129) (121)
Payment of preferred stock dividend and redemption of preferred stock 0 (90,298) (3,385) 0
Proceeds from private placement, net 0 66,459 0 0
Proceeds from long-term debt 115,000 125,000 0 0
Payment of long-term debt costs (1,081) (1,410) 0 0
Proceeds from exercise of stock options, net 0 1,898 36 0
Net cash (used in) provided by financing activities 92,821 115,722 (3,706) (282)
Effect of foreign exchange rate changes on cash and cash equivalents (381) (2,657) (877) (3,408)
Net (decrease) increase in cash and cash equivalents, and restricted cash 90,332 (60,876) 1,343 (8,771)
Cash and cash equivalents, and restricted cash at beginning of the period 19,332 109,664 17,989 26,760
Cash and cash equivalents, and restricted cash at end of the period 109,664 48,788 19,332 17,989
Reconciliation of cash and cash equivalents, and restricted cash        
Cash and cash equivalents 19,022 24,354 17,680 26,452
Restricted cash 85,310 4,396 310 309
Cash, cash equivalents, and restricted cash 109,664 48,788 19,332 17,989
Supplemental disclosure of cash flow information:        
Taxes 262 4,283 175 63
Interest 447 15,335 1,656 1,308
Noncash investing and financing activities:        
Issuance of derivative on long-term debt 2,226 0 0 0
Common stock issued for transaction bonus 0 9 0 0
Shares issued in connection with MiX Combination     1,347  
Value of warrant issued in connection with Movingdots acquisition 0 0 1,347 0
Value of licensed intellectual property acquired in connection with Movingdots acquisition 0 0 1,517 0
Preferred stock dividends paid in shares 0 0 1,108 4,231
MiX Telematics        
Noncash investing and financing activities:        
Shares issued in connection with MiX Combination 0 362,005 0 0
Fleet Complete        
Noncash investing and financing activities:        
Shares issued in connection with FC Acquisition $ 0 $ 21,343 $ 0 $ 0