v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 55,506 $ 40,041
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization expense 21,801 19,318
Share-based compensation expense 14,009 14,911
Deferred income taxes 9,229 (122,119)
Noncash lease expense 535 481
Change in tax receivable agreement liability 0 113,037
Changes in operating assets and liabilities:    
Players’ receivables (9,270) (5,574)
Due from affiliates 4,830 1,900
Prepaid expenses and other assets (11,063) (905)
Accounts payable, accrued expenses and other liabilities (13,906) (3,665)
Players’ liabilities 501 (2,926)
Net cash provided by operating activities 72,172 54,499
Cash flows from investing activities    
Internally developed software costs (15,703) (13,136)
Acquisition of gaming licenses (4,272) (2,949)
Acquisition of other intangible assets (2,513) (1,409)
Proceeds from (purchases of) short-term investments 1,219 (1,029)
Purchases of property and equipment (599) (363)
Acquisition of developed technology 0 (225)
Net cash used in investing activities (21,868) (19,111)
Cash flows from financing activities    
Payments for employee taxes related to shares withheld (30,521) (24,189)
Repurchase and retirement of Class A Common Stock (28,800) 0
Tax distributions to non-controlling interests (1,198) 0
Payments of tax receivable agreement liability (1,024) 0
Proceeds from exercise of stock options 980 0
Principal payments of finance lease liabilities (888) (2,028)
Repurchase of Class A Common Stock 0 (7,634)
Net cash used in financing activities (61,451) (33,851)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 13,380 7,659
Net change in cash, cash equivalents and restricted cash 2,233 9,196
Cash, cash equivalents and restricted cash, at the beginning of the period [1] 340,504 232,756
Cash, cash equivalents and restricted cash, at the end of the period [1] 342,737 241,952
Supplemental disclosure of noncash investing and financing activities:    
Right-of-use assets obtained in exchange for new or modified operating lease liabilities 0 487
Right-of-use assets obtained in exchange for new or modified finance lease liabilities 416 3,326
Allocation of equity and non-controlling interests upon changes in RSILP ownership 18,932 3,443
Employee tax liability related to shares withheld in Other Current Liabilities 309 174
Investing activities in Accounts Payable and Accrued Expenses 681 900
Re-issuance of treasury stock under the equity compensation plan 7,634 0
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 30,859 28,160
Cash paid for interest $ 418 $ 465
[1] Cash and cash equivalents and Restricted cash are each presented separately on the condensed consolidated balance sheets.