v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Dec. 31, 2025
USD ($)
Cash flows from operating activities:          
Net loss $ (25,749) $ (228,619) $ (82,512) $ (290,605)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization expense     13,887 6,921  
Amortization of debt discount and issuance costs     82 4,790  
Accretion of discount on investments in debt securities     (638) 0  
Equity-based compensation expense     8,166 11,719  
Goodwill impairment 0 70,636 0 70,636  
Non-cash lease expense     429 624  
Provision for doubtful accounts     42 351  
Loss on extinguishment of debt 0 0 15,826 2,577  
Increase in fair value of derivatives     20,596 169,087  
Changes in assets and liabilities:          
(Increase) decrease in accounts receivable     (8,868) 10,267  
Decrease in contract assets     218 194  
(Increase) in prepaid expenses and other assets     (6,003) (592)  
Increase (decrease) in accounts payable     5,002 (5,039)  
(Decrease) increase in accrued expenses     (584) 4,765  
(Decrease) increase in contract liabilities     (4,542) 1,925  
(Decrease) increase in other liabilities     (1,309) 1,848  
Net cash used in operating activities     (40,208) (10,532)  
Cash flows from investing activities:          
Purchases of investments in debt securities     (78,986) 0  
Proceeds from maturities and sales of investments in debt securities     79,486 0  
Acquisition of businesses, net of cash acquired     (10,183) 0  
Purchases of property and equipment     (635) (85)  
Capitalized software development costs     0 (2,699)  
Net cash used in provided by investing activities     (10,318) (2,784)  
Cash flows from financing activities:          
Proceeds from issuance of shares for exercised RDO and PIPE warrants     0 64,673  
Payment of Private Placement and Registered Direct Offering transaction costs     0 (551)  
Repayment of short-term borrowings     0 (451)  
Proceeds from at-the-market offering     0 300,000  
Payment of transaction costs for at-the-market offering     0 (5,250)  
Payment of debt issuance costs to third parties     0 (4,679)  
Payment of deferred purchase consideration     (4,523) 0  
Issuance of common stock upon ESPP purchase     1,590 1,069  
Proceeds from exercise of options     80 1,633  
Payments of tax withholding from the issuance of common stock     (1,347) (1,679)  
Net cash (used in) provided by financing activities     (4,200) 354,765  
Effect of foreign currency rate changes on cash, cash equivalents, and restricted cash     144 (745)  
Net (decrease) increase in cash, cash equivalents and restricted cash     (54,582) 340,704  
Cash, cash equivalents, and restricted cash at the beginning of the period     92,647 50,141 $ 50,141
Cash, cash equivalents, and restricted cash at the end of the period 38,065 390,845 38,065 390,845 92,647
Supplemental schedule of non-cash investing and financing activities:          
Issuance of common stock upon conversion of 2029 Notes     233,356 135,597  
Issuance of common stock for paid-in-kind interest on 2029 Convertible Notes     0 4,095  
Issuance of common stock for exercise of RDO and PIPE warrants, net of cash received     0 49,832  
Reconciliation of cash, cash equivalents, and restricted cash:          
Cash and cash equivalents 36,278   36,278   87,126
Restricted cash 1,787   1,787   5,521
Cash, cash equivalents, and restricted cash at end of the period $ 38,065 $ 390,845 $ 38,065 $ 390,845 $ 92,647