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 $ (6,269) $ (51,023)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation 3,852 1,310
Losses on loans held for investment, net 1,250 4,667
Noncash medallion incentive 525 525
Loss from disposal of rental vehicles 43 0
Change in fair value of interest rate swap (367) 0
Noncash operating lease expense 22 25
Amortization of borrowing costs 226 0
Other expense (income), net (28) (107)
Deferred income taxes (3,482) 49,283
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (2,936) (5,013)
Accrued expenses and other liabilities 774 2,154
Service fee payable (1,912) 708
Management fee payable (3,713) 1,683
Deposit liability 0 (7,086)
Net cash used in operating activities (12,015) (2,874)
Cash flows from investing activities:    
Cash acquired in the Business Combination 0 91
Cash acquired in Septuagint Acquisition 0 34
Purchases of rental vehicles (21,860) (14,177)
Asset-based WAV grant receipts 7,660 0
Purchases of property and equipment (103) (20)
Medallion disposal down payments and settlements received 0 430
Repayments on loans held for investment 3,487 6,259
Net cash used in investing activities (10,816) (7,383)
Cash flows from financing activities:    
Payment of MAC promissory note at closing of the Business Combination 0 (3,675)
Payment of MAC transaction costs at closing of the Business Combination 0 (7,976)
Distributions to noncontrolling interests (1,857) 0
Proceeds from credit facility 10,000 0
Principal repayments on term loan (2,575) 0
Net cash provided by (used in) financing activities 5,568 (11,651)
Net decrease in cash and cash equivalents and restricted cash (17,263) (21,908)
Cash and cash equivalents and restricted cash, at beginning of period 25,840 35,173
Cash and cash equivalents and restricted cash, at end of period 8,577 13,265
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,507 0
Cash paid for income taxes 0 0
Non-Cash investing and financing activities:    
Intangible asset taxi medallions acquired in loan foreclosures 17,225 8,610
Originations of Non-MRP+ loans from medallion disposals 175 495
Recognition of noncontrolling interests in the Business Combination 0 106,624
WAV grant receivables applied to rental vehicle basis 6,480 0
Right-of-use assets obtained in exchange for lease liabilities $ 694 $ 0