v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash flows from operating activities              
Net income (loss) $ (592) $ (3,276) $ (1,504) $ (1,849) $ (3,868) $ (3,353) $ (5,900)
Adjustments to reconcile net loss to net cash used in operating activities:              
Amortization and depreciation [1] 84   57   160 107  
Foreign exchange gain         0 (1)  
Noncash interest expense         103 52  
Noncash lease expense         96 37  
Share-based compensation         809 673  
Loss on liquidation of Ellmount Support         0 10  
Changes in operating assets and liabilities:              
Due from affiliates         479 4,482  
Prepaid expenses and other current assets         600 (199)  
Other assets         0 207  
Accounts payable         (926) 415  
Accrued expenses         (459) (465)  
Player liabilities         246 388  
Due to affiliates         (1,669) (3,483)  
Operating lease liabilities         (73) 0  
Other liabilities         54 0  
Net cash used in operating activities         (4,448) (1,130)  
Cash flows from investing activities              
Investment in capitalized software         (278) (144)  
Purchase of property and equipment         (18) (98)  
Net cash used in investing activities         (296) (242)  
Cash flows from financing activities              
Payment of deferred offering costs         0 (163)  
Proceeds from issuance of short-term unsecured notes payable to stockholders         0 500  
Cash settlement of affiliated debt         (90) 0  
Net cash used in financing activities         (90) 337  
Effect of exchange rate changes on cash, cash equivalents and restricted cash         496 211  
Net change in cash, cash equivalents, and restricted cash         (4,338) (824)  
Cash, cash equivalents, and restricted cash – beginning of period   $ 7,954   $ 4,045 7,954 4,045 4,045
Cash, cash equivalents, and restricted cash – end of period $ 3,616   $ 3,221   3,616 3,221 $ 7,954
Non-cash financing activities:              
Acquisition of right-of-use asset in exchange for lease obligations         0 1,001  
Offering costs accrued but not paid         $ 0 $ 251  
[1] Includes amortization of intangible assets generated through business acquisitions and depreciation of property and equipment, amortization of contract costs, and amortization of internally developed software and other intangible assets. Excludes amortization of right of use assets.