v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities:    
Net income (loss) $ 11,384 $ (20,741)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 5,931 4,661
Amortization of costs capitalized to obtain contracts 594 663
Amortization of operating lease right-of-use asset 171 163
Stock-based compensation expense, net of amounts capitalized 25,118 19,047
Non-cash interest expense, net 181 59
Convertible notes fair value adjustment 0 608
Derivative liability fair value adjustment 0 1,707
Loss on settlement of convertible notes 0 440
Gain on settlement of derivative liability 0 (1,924)
Gain on change in fair value of investments [1],[2] (1,269) 0
Non-cash revenue from investments (636) (891)
Provision for credit losses 350 0
Changes in operating assets and liabilities, net of acquisition:    
Accounts receivable, net (1,206) 1,554
Prepaid expenses and other assets (5,456) 6,024
Inventory (1,616) (1,446)
Costs capitalized to obtain contracts, net (642) (785)
Accounts payable (2,585) 4,135
Accrued expenses and other current liabilities (7,520) (783)
Deferred revenue 2,778 1,512
Other liabilities, noncurrent (194) (63)
Net cash provided by operating activities 25,383 13,940
Cash Flows from Investing Activities:    
Cash paid for acquisition (2,825) 0
Internally developed software (3,498) (2,272)
Purchase of property and equipment (766) (51)
Convertible note investment (25,000) 0
Net cash used in investing activities (32,089) (2,323)
Cash Flows from Financing Activities:    
Proceeds related to tax withholdings on restricted stock settlements and the exercise of stock options and warrants 29,570 4,461
Taxes paid related to net settlement of equity awards (25,767) (15,944)
Proceeds from issuance of common stock in U.S. initial public offering, net of underwriting discounts and commissions 0 93,000
Payments of U.S. initial public offering issuance costs 0 (1,837)
Proceeds from issuance of convertible senior notes 320,000 0
Payments of debt issuance costs (9,600) 0
Purchase of capped calls (33,728) 0
Net cash provided by financing activities 280,475 79,680
Net Increase in Cash, Cash Equivalents, and Restricted Cash 273,769 91,297
Cash, Cash Equivalents and Restricted Cash at the Beginning of the Period 160,459 70,713
Cash, Cash Equivalents, and Restricted Cash at the End of the Period 434,228 162,010
Supplemental disclosure:    
Cash paid during the period for taxes 25 1,651
Cash paid during the period for interest 0 46
Cash payments included in the measurement of operating lease liabilities 194 224
Non-cash investing and financing activities:    
Fair value of stock issued in connection with acquisition 1,000 0
Property and equipment included within accrued expenses and other current liabilities 799 1,063
Stock-based compensation included in internally developed software 634 373
IPO-related transaction costs included in accrued expenses and other current liabilities 0 4,455
Conversion of Related Party SAFE to Related Party Investment 5,000 0
Cash, cash equivalents and restricted cash    
Cash and cash equivalents 432,710 160,793
Restricted cash, noncurrent 1,518 1,217
Total cash and cash equivalents, and restricted cash 434,228 162,010
Debt issuance costs included in accounts payable    
Non-cash investing and financing activities:    
Debt issuance costs included in accounts payable, accrued expenses and other current liabilities 200 0
Debt issuance costs included in accrued expenses and other current liabilities    
Non-cash investing and financing activities:    
Debt issuance costs included in accounts payable, accrued expenses and other current liabilities 1,084 0
September 2021 Convertible Notes    
Non-cash investing and financing activities:    
Conversion of convertible notes and accrued interest to common stock 0 3,548
July 2021 Convertible Notes    
Non-cash investing and financing activities:    
Conversion of convertible notes and accrued interest to common stock $ 0 $ 2,203
[1] Includes a related party gain of $882 and zero for the six months ended June 30, 2025 and 2024, respectively.
[2] Includes a related party gain of $882 for the three and six months ended June 30, 2025. No related party gain was recorded during the three and six months ended June 30, 2024.