v3.25.2
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES        
Net Income (Loss) $ 1,550 $ (1,110) $ (3,571) $ (17,207)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation and amortization 398 340 777 666
Equity-settled share-based payment 17,795 13,536 30,502 22,380
Finance costs 62 71 (87) 200
Change in fair value of warrants liability 200 471
Changes in operating asset and liabilities:        
Funds held in restricted escrow account (9,250) (9,250)
Trade receivables (10,031) (9,096) (12,586) (12,190)
Other receivables 3 34 66 7
Short-term and long-term financing receivables, net (1,249) (4,218)
Prepaid expenses and deposits (39) (319) 73 591
Accounts payable 324 103 (123) 625
Accrued liabilities 14,496 12,415 22,129 20,255
Customer deposits 16,043 8,684 22,213 20,176
Other payables 1,666 362 1,793 10,726
NET CASH PROVIDED BY OPERATING ACTIVITIES 41,018 15,970 56,968 37,450
INVESTING ACTIVITIES        
Purchase of property and equipment (255) (501) (540) (597)
Purchase of investment in equity securities (2,250) (2,250)
Purchase of financial assets (109) (1,542) (1,459) (1,713)
Proceeds from sale of financial assets 5,496 5,730 5,753 5,752
NET CASH PROVIDED BY INVESTING ACTIVITIES 2,882 3,687 1,504 3,442
FINANCING ACTIVITIES        
Purchase of common shares for Restricted Share Unit (RSU) Plan (2,708) (10,603) (8,830) (15,226)
Payment of employee taxes on certain share-based arrangements (498) (420) (1,711) (741)
Proceeds from exercise of stock options 351 3,010 661 3,623
Distributions to non-controlling interest (23) (14) (99) (52)
NET CASH USED IN FINANCING ACTIVITIES (2,878) (8,027) (9,979) (12,396)
Net change in cash, cash equivalents and restricted cash 41,022 11,630 48,493 28,496
Cash, cash equivalents and restricted cash, beginning of period 54,965 44,512 47,465 27,655
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (71) 298 (42) 289
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 95,916 56,440 95,916 56,440
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES        
Warrants exercised $ 377 $ 377