v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net loss for the period $ (75,819) $ (109,860) $ (96,197)
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 46,247 45,620 47,260
Amortization of debt discount and issuance costs 4,662 4,479 3,331
Gain on disposal of assets (5,882) 0 0
Impairment of property and equipment 11,533 19,167 4,822
Deferred income taxes (recovery) (289) 854 (13,040)
Accretion of redeemable preferred units 14,456 9,758 14,163
Loss on debt extinguishment 0 0 14,680
Write off of debt discount and issuance cost 0 0 277
Loss on change in the fair value of forward contracts 0 0 1,624
Amortization of discontinued cash flow hedge 0 0 (1,144)
Stock-based compensation expense 7,139 7,021 8,134
Change in non-cash operating working capital      
Accounts receivable (3,616) 1,328 (3,802)
Prepaid expenses and deposits (7,060) 331 (382)
Deferred costs of fulfillment 3,941 (5,907) (394)
Accounts payable and accrued liabilities (4,668) (1,565) 3,725
Contract liabilities (3,869) 8,721 2,952
Other operating assets and liabilities 7,467 308 9,220
Net cash provided by (used in) operating activities (5,758) (19,745) (4,771)
Financing activities:      
Proceeds received on exercise of stock options 31 43 0
Proceeds from issuance of notes payable 0 62,991 227,258
Redeemable preferred units redemption 0 0 (45,718)
Proceeds from redeemable preferred units 0 0 35,000
Deferred notes payable financing costs 0 (2,011) (6,738)
Deferred preferred financing costs 0 0 145
Contingent payments for acquisitions 0 0 (1,600)
Proceeds received on syndicated revolver 0 0 52,382
Repayment of syndicated revolver (5,000) (16,500) (80,182)
Payment of syndicated revolver costs (423) (25) (1,711)
Net cash provided by (used in) financing activities (5,392) 44,498 178,836
Investing activities:      
Proceeds on disposal of property and equipment and intangible asset 19,477 542 0
Additions to property and equipment (17,114) (56,460) (92,055)
Acquisition of intangible assets (206) (575) (528)
Net cash provided by (used in) investing activities 2,157 (56,493) (92,583)
Increase (decrease) in cash and cash equivalents, restricted cash, and restricted cash equivalents (8,993) (31,740) 81,482
Cash and cash equivalents, restricted cash, and restricted cash equivalents beginning of year 73,238 104,978 23,496
Cash and cash equivalents, restricted cash, and restricted cash equivalents end of year 64,245 73,238 104,978
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above:      
Cash and cash equivalents 46,759 56,903 92,687
Restricted cash included in funds held by trustee 5,315 4,628 3,639
Restricted cash included in secured notes reserve funds 12,171 11,707 8,652
Total cash and cash equivalents, restricted cash, and restricted cash equivalents end of year 64,245 73,238 104,978
Supplemental cash flow information:      
Interest paid 43,778 37,961 24,736
Income taxes paid, net 5,651 7,653 4,929
Supplementary disclosure of non-cash investing and financing activities:      
Property and equipment acquired during the period not yet paid for $ 2,224 $ 3,572 $ 6,948