v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net loss $ (57,334) $ (9,928) $ (89,322)
Less: net (income) loss from discontinued operations, net of tax 0 (24,028) 33,610
Net loss from continuing operations (57,334) (33,956) (55,712)
Adjustments to reconcile net loss from continuing operations to cash used in operating activities:      
Depreciation and amortization 15,828 19,146 20,333
Unrealized gain on foreign currency (1,225) (872) (1,088)
Stock-based compensation 5,820 5,531 5,282
Change in fair value of warrants (1,529) 1,372 11
Change in fair value of derivative liability 0 0 (180)
Amortization of debt discount and deferred issuance costs 7,140 6,086 1,766
Deferred income tax 88 (304) 3,236
Loss (gain) on disposition of assets 800 (1,250) (175)
Loss on investment 0 0 3,500
Provision for doubtful accounts (356) (385) (581)
Impairment expense 30,199 0 0
Noncash lease expense 17,473 18,123 20,017
Changes in operating assets and liabilities:      
Accounts receivable 4,419 25,816 40,568
Prepaid expenses and other current assets and prepaid expenses and other assets (224) 6,129 6,284
Film costs (18,525) (5) (1,707)
Accounts payable 5,156 (30,464) 19,149
Accrued compensation (3,888) (474) (18,257)
Accrued expenses, other current liabilities, and other liabilities (7,393) 3,288 (12,619)
Lease liabilities (21,535) (22,222) (23,421)
Deferred revenue 6,338 (1,245) (7,098)
Cash used in operating activities from continuing operations (18,748) (5,686) (692)
Cash used in operating activities from discontinued operations 0 (14,993) (5,411)
Cash used in operating activities (18,748) (20,679) (6,103)
Investing activities:      
Capital expenditures (1,958) (691) (964)
Capitalization of internal-use software (12,394) (12,078) (13,934)
Business combinations, net of cash acquired (233) 0 0
Proceeds from sale of assets 525 350 175
Cash used in investing activities from continuing operations (14,060) (12,419) (14,723)
Cash provided by investing activities from discontinued operations 0 191,075 0
Cash (used in) provided by investing activities (14,060) 178,656 (14,723)
Financing activities:      
Borrowings from Term Loan 43,975 0 0
Borrowings from film financing arrangements 13,638 0 0
Proceeds from co-financing arrangements for feature films 5,089 0 0
Borrowings on revolving credit facility 0 0 2,128
Payment on Convertible Notes (30,000) (120,000) 0
Payment of consent solicitation fees (2,089) (900) 0
Payment of film financing arrangements for feature films (2,631) 0 0
Payment on revolving credit facility 0 (33,837) (1,796)
Payment of early termination fee for revolving credit facility 0 (500) 0
Payment of Term Loan's debt issuance costs (754) 0 0
Repurchase of common stock (3,332) 0 0
Proceeds from exercise of stock options 16 1 29
Payment for shares withheld for employee taxes (224) (394) (451)
Proceeds from the issuance of common stock in connection with the at-the-market offering, net of issuance costs (175) 1,030 902
Distributions to noncontrolling interests (1,923) 0 0
Cash provided by (used in) financing activities 21,590 (154,600) 812
Effect of currency translation on cash and cash equivalents 309 (366) (123)
Net (decrease) increase in cash and cash equivalents (10,909) 3,011 (20,137)
Cash and cash equivalents and restricted cash at beginning of year 38,648 35,637 55,774
Cash and cash equivalents and restricted cash at end of year $ 27,739 $ 38,648 $ 35,637