v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 283,580 $ 161,435
Accounts receivable, net 61,344 71,078
Prepaid sports rights 25,343 24,821
Prepaid and other current assets 16,377 16,699
Total current assets 386,644 274,033
Property and equipment, net 6,118 6,080
Restricted cash 6,148 6,137
Intangible assets, net 121,011 133,703
Goodwill 631,016 615,399
Right-of-use assets 29,956 31,837
Other non-current assets 11,493 10,239
Total assets 1,192,386 1,077,428
Current liabilities    
Accounts payable 43,641 67,844
Accrued expenses and other current liabilities 278,304 335,967
Notes payable 7,401 7,024
Deferred revenue 80,545 98,421
Convertible notes, net - current portion 144,130 0
Long-term borrowings - current portion 821 1,042
Current portion of lease liabilities 4,150 5,024
Total current liabilities 558,992 515,322
Convertible notes, net 187,525 332,383
Lease liabilities 31,225 32,951
Other long-term liabilities 14,285 15,990
Total liabilities 792,027 896,646
COMMITMENTS AND CONTINGENCIES (Note 14)
Shareholders’ equity:    
Common stock par value $0.0001: 1,000,000,000 and 1,000,000,000 shares authorized at June 30, 2025 and December 31, 2024, respectively ; 342,386,328 and 339,144,854 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 34 34
Additional paid-in capital 2,237,568 2,219,002
Accumulated deficit (1,837,333) (2,017,796)
Non-controlling interest (11,352) (15,588)
Accumulated other comprehensive income (loss) 11,442 (4,870)
Total shareholders’ equity 400,359 180,782
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,192,386 $ 1,077,428