v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income (loss) $ 180,462 $ (82,311)
Less: Net loss from discontinued operations, net of tax 0 (149)
Net income (loss) from continuing operations 180,462 (82,162)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 20,046 18,780
Stock-based compensation 11,720 23,285
Amortization of debt premium, net (728) (521)
Gain on extinguishment of debt 0 (21,761)
Deferred income tax provision 4,800 212
Amortization of right-of-use assets 1,881 1,964
Other adjustments 377 341
Changes in operating assets and liabilities of business:    
Accounts receivable, net 10,098 8,383
Prepaid expenses and other assets 1,365 3,736
Prepaid sports rights (1,665) 4,862
Accounts payable (24,775) (37,133)
Accrued expenses and other liabilities (55,764) (12,518)
Deferred revenue (18,203) (3,812)
Lease liabilities (2,829) (2,576)
Net cash provided by (used in) operating activities - continuing operations 126,785 (98,920)
Net cash used in operating activities - discontinued operations 0 (629)
Net cash provided by (used in) operating activities 126,785 (99,549)
Cash flows from investing activities    
Purchases of property and equipment (714) (316)
Capitalization of internal use software (6,213) (6,830)
Purchase of intangible assets (50) (540)
Net cash used in investing activities - continuing operations (6,977) (7,686)
Net cash used in investing activities - discontinued operations 0 0
Net cash used in investing activities (6,977) (7,686)
Cash flows from financing activities    
Proceeds from the issuance of common stock, net of offering costs 0 36,860
Repurchase of convertible notes 0 (14,657)
Vested restricted stock units settled for cash 0 (181)
Payments for financing costs 0 (4,657)
Proceeds from exercise of stock options 2,700 3
Repayments of notes payable and long-term borrowings (352) (225)
Net cash provided by financing activities - continuing operations 2,348 17,143
Net cash provided by financing activities - discontinued operations 0 0
Net cash provided by financing activities 2,348 17,143
Net increase (decrease) in cash, cash equivalents and restricted cash 122,156 (90,092)
Cash, cash equivalents and restricted cash at beginning of period 167,572 251,420
Cash, cash equivalents and restricted cash at end of period 289,728 161,328
Supplemental disclosure of cash flows information:    
Interest paid 9,032 5,094
Income taxes paid 224 120
Non-cash financing and investing activities:    
Unpaid At-the-market offering costs included in accrued expenses 0 37
Unpaid financing costs included in accounts payable 0 25
Unpaid property and equipment included accounts payable $ 0 $ 1,374