v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities    
Net income (loss) $ (66,136) $ (9,786)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Share-based compensation 2,568 2,803
Depreciation and amortization 307 2,963
Amortization of intangible assets 0 23,514
Amortization of debt discount and issuance costs 3,046 998
Deferred tax liability 668 1,057
Non-cash lease expense 517 1,025
Other non-cash items (425) (271)
Accrued interest payable in kind 13,347 0
Indefinite and long-lived asset impairment charges 0 710
Changes in assets and liabilities:    
Accounts receivable 77 (1,444)
Commissions receivable 72,789 52,979
Prepaid expenses and other assets 2,749 9,557
Accounts payable 1,543 5,705
Accrued liabilities (10,075) (39,105)
Deferred revenue (1,699) (30,051)
Commissions payable (11,312) (29,057)
Operating lease liabilities (447) (1,385)
Other liabilities (531) (2,617)
Net cash provided by (used in) operating activities 6,986 (12,405)
Investing Activities    
Purchases of property, equipment and software 0 (3,048)
Net cash provided by (used in) investing activities 0 (3,048)
Financing Activities    
Repayment of borrowings 0 (2,375)
Repurchase of shares to satisfy employee tax withholding obligations (25) (822)
Proceeds from stock option exercises 0 1
Net cash provided by (used in) financing activities (25) (3,196)
Effect of exchange rate changes on cash and cash equivalents 14 (119)
Increase (decrease) in cash and cash equivalents 6,975 (18,768)
Cash and cash equivalents at beginning of period 32,904 40,921
Cash and cash equivalents at end of period $ 39,879 $ 22,153