v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss from continuing operations $ (227,735) $ (378,404) $ (81,211)
Adjustments to reconcile net loss to net cash provided by operating activities      
Non-cash adjustments on derivatives and non-cash interest expense (income) (2,102) 5,227 (7,728)
Amortization of deferred financing fees 7,038 6,766 8,292
Impairment of goodwill and indefinite-lived asset 203,685 275,170 43,500
Depreciation and amortization 202,258 204,553 208,856
Fair value adjustments related to contingent consideration 0 1,678 11,152
Deferred income taxes (57,521)
Equity-based compensation of Karman Topco L.P. (1,524) 723 (2,524)
Stock-based compensation 26,915 31,019 38,933
Income from investment in European joint venture and other (7,491) (2,064) (5,511)
Distribution received from equity method investments 1,810 3,289 2,100
Gain on divestiture and deconsolidation of subsidiaries (27,983) 0 (58,891)
Gain on repurchases of Senior Secured Notes and Term Loan Facility debt (1,649) (9,141) (8,665)
Other 282 1,769 3,032
Changes in operating assets and liabilities, net of effects from divestitures:      
Accounts receivable, net 7,995 51,154 38,899
Prepaid expenses and other assets (31,423) 28,396 100,841
Accounts payable 5,271 (12,918) (23,066)
Accrued compensation and benefits (10,665) (30,380) 27,458
Deferred revenues 7,335 (2,129) 8,551
Other accrued expenses and other liabilities (32,964) (24,306) 4,890
Net cash provided by operating activities 61,532 93,095 228,492
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchase of investments in unconsolidated affiliates (3,736) (13,932) (3,023)
Purchase of property and equipment (6,477) (7,838) (20,691)
Purchase and development of capitalized software (46,434) (47,501) (20,872)
Proceeds from divestitures 60,491 275,717 21,108
Deconsolidation of subsidiaries cash and cash equivalents and restricted cash, net of proceeds 0 0 (31,465)
Proceeds from sale of investments in unconsolidated affiliates 0 0 4,428
Net cash (used in) provided by investing activities 3,844 206,446 (50,515)
CASH FLOWS FROM FINANCING ACTIVITIES      
Borrowings under lines of credit 90,000 0 99,538
Payments on lines of credit (90,000) 0 (99,102)
Principal payments on long-term debt (13,250) (13,131) (13,294)
Repurchases of Senior Secured Notes and Term Loan Facility debt (18,218) (147,122) (156,559)
Debt issuance costs 0 (971) 0
Deferred consideration paid for purchases in unconsolidated affiliates (2,113) 0 0
Contingent consideration payments 0 (5,655) (1,867)
Proceeds from employee stock purchase plan 1,838 2,294 2,248
Payments for taxes related to net share settlement of equity awards (3,596) (12,765) (1,880)
Holdback payments 0 0 (944)
Redemption of noncontrolling interest 0 0 (154)
Purchase of treasury stock (869) (34,067) (6,382)
Net cash used in financing activities (36,208) (211,417) (178,396)
Net effect of foreign currency changes on cash, cash equivalents and restricted cash 3,068 (4,575) 1,800
Net change in cash, cash equivalents and restricted cash 32,236 83,549 1,381
Cash, cash equivalents and restricted cash, beginning of period 220,751 137,202 135,821
Cash, cash equivalents and restricted cash, end of period $ 252,987 $ 220,751 $ 137,202