v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net (loss) income $ (17,447) $ 3,898
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Stock-based compensation 2,606 18,763
Non-cash gain on IPO transactions (932)
Note issuance for legal settlement 750
Provision for credit losses 24 7
Non-cash interest 1,064
Non-cash investor note interest 6,731
Non-cash gain on debt extinguishment (15,559)
Change in investor notes at fair value 186
Depreciation and amortization 6,335 6,126
Amortization of right-of-use lease assets 510 86
Change in fair value of contingent consideration (20,272)
Change in fair value of warrant liability (1,843)
Changes in operating assets and liabilities:    
Accounts receivable (34,882) (12,613)
Related party receivables 225
Prepaid expenses and other assets 694 (119)
Inventory (3,253) (633)
Accounts payable, accrued expenses and other long-term liabilities 629 (9,404)
Related party payables (6,539) 5
Lease liabilities (534) (104)
Deferred revenue 2,909 (7,216)
Deferred compensation 325
Net cash used in operating activities (48,723) (30,754)
Cash flows from investing activities:    
Purchase of property and equipment and investment in intangible assets (4,508) (1,067)
Net cash used in investing activities (4,508) (1,067)
Cash flows from financing activities:    
Proceeds from the sale of common stock, net 61,471
Change in lines of credit 5,492 (127)
Proceeds from borrowings 8,500
Repayments on borrowings (1,284) (14,072)
Proceeds from related party borrowings 231
Repayments on related party borrowings (176) (709)
Debt issuance costs paid (170)
Proceeds from the exercise of warrants 2
Payment of contingent consideration (3,267)
Cash paid to seller (2,246)
Net cash provided by financing activities 4,032 49,613
Effect of exchange rate changes 651 1,833
Net (decrease) increase in cash and restricted cash (48,548) 19,625
Cash and restricted cash as of beginning of period 74,551 20,911
Cash and restricted cash as of end of period 26,003 40,536
Supplemental disclosures of non-cash information:    
Financing of insurance premiums 942 927
Right-of-use assets obtained in exchange for operating lease liabilities 174
Purchases of property and equipment included in accounts payable 114
Deferred compensation settled in common stock 460
Reclass between accrued expenses and notes payable 622
Reclass between accrued expenses and contingent consideration 5,268
Initial recognition of warrant liability 2,885
Deferred consideration for licensing arrangement 1,000
Reclass of warrants to equity 1,042
Deferred offering cost in accounts payable 3,126
Reclass between related party payables and related party borrowings 1,007
Debt settled in common stock 8,935
Contingent consideration settled in common stock $ 13,976