v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,101) $ (11,739)
Adjustments to reconcile net loss to net cash from operating activities:    
Bad debt expense (813) (284)
Depreciation and amortization 6,177 2,315
Amortization of debt financing costs 296 453
Amortization of launch assets 408 1,245
Amortization of content assets 9,869 9,882
Deferred income taxes (1,441) 15,548
Impairment of intangible assets 0 6,443
Stock-based compensation expense 201 676
Gain on retirement of debt (2,080) (11,587)
Non-cash fair value adjustment of Employment Agreement Award 888 637
Other 7 88
Effect of change in operating assets and liabilities:    
Trade accounts receivable, net 18,591 19,987
Prepaid expenses and other current assets (2,916) (693)
Other assets (655) 61
Content assets and payables (7,723) (10,744)
Accounts payable 2,050 (2,077)
Accrued interest 3,385 (11,125)
Accrued compensation and related benefits (535) (3,407)
Reserve for audience deficiency (2,082) (2,917)
Other liabilities 1,546 (677)
Net cash flows provided by operating activities 22,072 2,085
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (3,352) (2,547)
Net cash flows used in investing activities (3,352) (2,547)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Purchase of ownership interest in Reach Media (1,264) (3,232)
Borrowings under line of credit 10,000 0
Repayment of line of credit (10,000) 0
Repurchase of common stock, including payments for taxes related to net share settlement of equity awards (13) (997)
Payment of dividends to non-controlling interest members of Reach Media 0 (936)
Net cash flows used in financing activities (17,036) (21,544)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 1,684 (22,006)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 26,358 137,574
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 28,042 115,568
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest 744 21,593
Income taxes, net of refunds 111 33
NON-CASH FINANCING AND INVESTING ACTIVITIES:    
Adjustment of redeemable non-controlling interests to estimated redemption value (1,345) (105)
Settlement of stock-based compensation liability 50 400
Non-cash additions to property and equipment 523 0
2028 Notes    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase of Notes (2,193) (16,379)
2031 Second Lien Notes    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase of Notes $ (13,566) $ 0