v3.25.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating activities:        
Net loss $ (62,640,000) $ (576,727,000) $ (133,959,000) $ (1,116,416,000)
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation 25,261,000 21,811,000 49,807,000 42,800,000
Amortization of intangible assets 85,971,000 85,971,000 171,942,000 171,942,000
Amortization of the right-of-use asset     1,809,000 2,330,000
Loss on impairment of goodwill and intangible assets 0 553,701,000 0 1,072,751,000
Stock-based compensation     13,035,000 13,011,000
Deferred income taxes     (99,682,000) (97,024,000)
Non-cash interest costs     29,036,000 5,818,000
Loss (gain) on extinguishment of debt 0 0 670,000 (5,913,000)
Loss on disposal of property and equipment     480,000 130,000
Loss on disposal of leases     5,006,000 0
Gain on change in fair value of Private Placement Warrants and Unvested Founder Shares 0 (259,000) 0 (389,000)
Changes in assets and liabilities:        
Accounts receivable, net     (33,821,000) (4,862,000)
Prepaid expenses and other assets     (7,631,000) (22,747,000)
Prepaid taxes     6,747,000 1,364,000
Operating lease obligation     (2,354,000) (2,440,000)
Accounts payable, accrued interest, accrued taxes, accrued expenses, and other     30,096,000 7,832,000
Net cash provided by operating activities     31,181,000 68,187,000
Investing activities:        
Purchases of property and equipment     (63,489,000) (55,989,000)
Net cash (used in) investing activities     (63,489,000) (55,989,000)
Financing activities:        
Repayments of Term Loan     (3,674,000) (6,625,000)
Taxes paid on settlement of vested share awards     (2,884,000) (3,355,000)
Borrowings on 2025 revolving credit facility     130,000,000 0
Repayment of 2025 revolving credit facility     (50,000,000) 0
Purchase of treasury stock     0 (10,370,000)
Payment of debt issuance costs     (4,267,000) 0
Proceeds from issuance of common stock under Employee Stock Purchase Plan     749,000 713,000
Net cash provided by (used in) financing activities     69,924,000 (34,523,000)
Net increase (decrease) in cash, cash equivalents and restricted cash     37,616,000 (22,325,000)
Cash, cash equivalents and restricted cash at beginning of period     29,672,000 81,494,000
Cash, cash equivalents and restricted cash at end of period 67,288,000 59,169,000 67,288,000 59,169,000
Cash and cash equivalents 56,390,000 48,767,000 56,390,000 48,767,000
Restricted cash 10,898,000 10,402,000 10,898,000 10,402,000
Cash, cash equivalents and restricted cash at end of period $ 67,288,000 $ 59,169,000 67,288,000 59,169,000
Noncash investing and financing activities:        
Purchases of property and equipment not yet paid     15,027,000 14,937,000
Operating lease right-of-use assets obtained in exchange for operating lease liabilities     5,316,000 0
PIK Interest Added to Long Term Debt Principal     (26,029,000) 0
Supplemental disclosure of cash flow information:        
Interest     (117,510,000) (158,395,000)
Income taxes, net of refunds     (43,977,000) (34,083,000)
Senior PIK notes        
Financing activities:        
Repurchase of Senior Convertible PIK Notes     $ 0 $ (14,886,000)