v3.25.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities:    
Net loss $ (922,050) $ (59,712)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation 1,063 787
Amortization 51,609 22,275
Provision for bad debt 965 609
Operating lease expense 2,520 1,157
Stock-based compensation 8,119 566
Deferred tax provision (24,302) (7,350)
Impairment of long-lived assets 0 2,019
Impairment of goodwill 841,348 0
Fair value adjustment to debt 1,323 0
Gain on disposal of intangibles 0 90
Gain on disposal of property, plant and equipment 5 44
Remeasurement of contingent consideration 0 4,164
Net foreign exchange (gain)/loss 7,849 (79)
Other (333) 0
Changes in operating assets and liabilities (net of the impact of acquisitions):    
Accounts receivable 1,567 (2,167)
Prepaid expenses and other current assets (1,227) (523)
Related party receivables (3,855) (429)
Accounts payable (602) (2,439)
Income taxes payable 29,466 223
Accrued expenses and other current liabilities (7,784) (691)
Accrued compensation expenses 2,433 0
Operating lease liabilities with right of use (2,994) (1,500)
Contract liabilities 15,152 16,797
Contingent consideration 0 (1,020)
Other assets (liabilities) 257 515
Related party payables 13,177 (4,403)
Net cash provided by (used in) operating activities 13,706 (31,067)
Investing activities:    
Purchases of property and equipment, and other capitalized assets (81) (265)
Purchases of intangible assets (8,488) (3,387)
Purchase of investments (291) 0
Sale of short-term investments 76,795 0
Net cash provided by (used in) investing activities 67,935 (3,652)
Financing activities:    
Cash pool arrangements with Parent 0 17,506
Contingent consideration settlement 0 (3,980)
Proceeds from related party long term debt 135,000 0
Repayment of related party long term debt (15,000) 0
Repayment of convertible notes (417,033) 0
Net transfer from Parent 0 18,687
Net cash provided by (used in ) financing activities (297,033) 32,213
Effect of exchange rate changes on cash and cash equivalents 1,141 (147)
Net decrease in cash and cash equivalents (214,251) (2,653)
Cash and cash equivalents at beginning of year 275,983 10,789
Cash and cash equivalents at end of year 61,732 8,136
Supplemental disclosure of cash flow information:    
Cash paid for taxes, net 817 186
Cash paid for interest on related party long term debt 4,376 13,230
Schedule of non-cash investing and financing activities:    
Intangible asset purchases included in accrued expenses and other current liabilities $ 0 $ 157