v3.26.1
Discontinued Operations and Assets Held for Sale (Tables)
 6 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations
The following table presents the major components of the “Income (loss) from discontinued operations, net of tax” in the condensed consolidated statements of operations (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenue$1,464 $10,470 $7,674 $20,558 
Costs and operating expenses:
Cost of revenue— 9,442 5,352 17,399 
General and administrative15,360 8,298 23,061 17,618 
Restructuring charges— 108 — 915 
Total operating expenses15,360 17,848 28,413 35,932 
Loss from operations(13,896)(7,378)(20,739)(15,374)
Gain on deconsolidation24,507 — 24,507 — 
Other income— 272 315 621 
Total other income24,507 272 24,822 621 
Income (loss) from discontinued operations$10,611 $(7,106)$4,083 $(14,753)
The following table presents the major components of assets held for sale on the condensed consolidated balance sheet (in thousands):
As of December 31,
2025
Property, plant and equipment, net$412 
Intangible assets, net3,442 
Total assets held for sale$3,854 
The following table presents the net cash used in discontinued operations in the condensed consolidated statements of cash flows (in thousands):
Six Months Ended June 30,
20262025
Cash flows from operating activities:
Income (loss) from discontinued operations$4,083 $(14,753)
Adjustments to reconcile net income (loss) from discontinued operations to net cash provided by (used in) operating activities - discontinued operations:
Depreciation and amortization561 1,088 
Stock-based compensation17,314 6,489 
Gain on deconsolidation(24,507)— 
Changes in operating assets and liabilities:
Accounts receivable7,780 (2,610)
Prepaid expenses and other current assets558 771 
Accounts payable, accrued expenses and other current liabilities(8,142)(1,784)
Deferred revenue, current and non-current— 329 
Net cash used in operating activities - discontinued operations$(2,353)$(10,470)
The table below provides a reconciliation of the beginning and ending balances for the Company's equity method investment in Perimeter for the six months ended June 30, 2026 (in thousands):
Equity Method Investment
Balance at January 1, 2026$— 
Addition12,288 
Loss on equity method investment(4,673)
Balance at June 30, 2026$7,615