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 loss $ (83,323) $ (56,048)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities    
Depreciation, amortization and accretion 41,848 38,516
Net loss on disposal of property and equipment, net of insurance recoveries, and impairment expense 6,695 4,518
Share-based compensation 7,541 12,525
Bad debt expense 1,907 651
Change in fair value of earnout liability (22) (568)
Change in fair value of warrant liabilities (1,202) (5,704)
Paid-in-kind interest, amortization of deferred debt issuance costs, net of capitalized interest 8,369 1,401
Gain on sales-type lease (4,235) (2,500)
Other 553 83
Changes in operating assets and liabilities    
Accounts receivable, net 7,372 13,337
Prepaids and other current assets and other assets (9,331) (4,643)
Operating lease assets and liabilities, net 2,112 (121)
Accounts payable 2,715 (4,875)
Accrued liabilities (6,847) 8,737
Deferred revenue (15,766) (224)
Other current and noncurrent liabilities (238) (1,242)
Net cash (used in) provided by operating activities (41,852) 3,843
Cash flows from investing activities    
Capital expenditures (64,398) (41,191)
Proceeds from insurance for property losses 63 24
Net cash used in investing activities (64,335) (41,167)
Cash flows from financing activities    
Proceeds from long-term debt 86,589 94,180
Payments on long-term debt (500) 0
Proceeds from capital-build funding 8,366 9,051
Payments of withholding tax on net issuance of restricted stock units (991) (529)
Payments of deferred debt issuance costs (373) (2,513)
Net cash provided by financing activities 93,091 100,189
Net (decrease) increase in cash, cash equivalents and restricted cash (13,096) 62,865
Cash, cash equivalents and restricted cash, beginning of period 210,746 120,512
Cash, cash equivalents and restricted cash, end of period 197,650 183,377
Beginning of period    
Cash and cash equivalents 151,000 117,273
Restricted cash, current 49,519 3,239
Restricted cash, noncurrent 10,227 0
Cash, cash equivalents and restricted cash, beginning of period 210,746 120,512
End of period    
Cash and cash equivalents 121,822 154,468
Restricted cash, current 61,684 22,425
Restricted cash, noncurrent 14,144 6,484
Cash, cash equivalents and restricted cash, end of period 197,650 183,377
Supplemental cash flow data    
Interest paid 2,746 0
Income taxes paid 78 0
Supplemental disclosure of noncash investing and financing activities    
Non-cash adjustments to redeemable noncontrolling interest 126,623 37,450
Capital expenditures in accounts payable and accrued liabilities 15,301 15,651
Property and equipment derecognized for net investment in sales-type lease 12,855 2,769
Deferred debt issuance costs in accounts payable, accrued liabilities, other current liabilities and other liabilities 5,259 10,864
Paid-in-kind interest 4,699 2,360
Non-cash increase in capital-build 4,477 7,641
Non-cash decrease in deferred debt issuance costs and long-term liabilities 4,293 0
Interest capitalized to property, equipment and software 2,074 1,641
Financed insurance premium liabilities 1,760 0
Non-cash increase in asset retirement obligations 1,231 1,756
Share-based compensation capitalized to property, equipment and software 907 901
Unrealized loss on interest rate collar designated as cash flow hedge 84 0
Equity issuance costs in accounts payable and accrued liabilities $ 50 $ 0