v3.26.1
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net (loss) earnings $ (239,645) $ 26,003
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:    
Depreciation 35,733 20,226
Provision for credit losses 20,819 24,043
Stock-based compensation expense 7,708 2,767
Non-cash lease expense (including impairment of right-of-use assets) 3,827 3,643
Deferred income taxes (2,308) 7,424
Gain on extinguishment of debt (8,381) 0
Goodwill impairment 225,628 0
Impairment of intangibles 9,600 0
Other adjustments, net 949 (1,184)
Changes in assets and liabilities:    
Accounts receivable (24,676) (31,139)
Other assets 3,147 6,675
Accounts payable and other liabilities (10,759) 12,358
Income taxes payable and receivable (3,749) (1,184)
Operating lease liabilities (9,439) (6,450)
Deferred revenue 884 (9,174)
Net cash provided by operating activities 9,338 54,008
Cash flows from investing activities:    
Capital expenditures (30,731) (24,824)
Proceeds from sales of fixed assets 54 75
Net cash used in investing activities (30,677) (24,749)
Cash flows from financing activities:    
Repurchases of debt (91,195) 0
Withholding taxes paid on behalf of employees on net settled stock-based awards (2,081) (6,771)
Purchases of treasury stock 0 (76,386)
Net cash used in financing activities (93,276) (83,157)
Total cash used (114,615) (53,898)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (385) (170)
Net decrease in cash and cash equivalents and restricted cash (115,000) (54,068)
Cash and cash equivalents and restricted cash at beginning of period 303,701 416,545
Cash and cash equivalents and restricted cash at end of period $ 188,701 $ 362,477