v3.26.1
Unaudited 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 $ (60,581) $ (85,257)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 14,616 45,856
Marketing expenses 513
Interest income (3) (170)
Interest expense on borrowings 10,026 9,973
Foreign exchange loss (gain), net 396 (2,929)
Bad debts (recovered) written-off (256) 5,441
Investment income, net (1)
Gain on disposal of assets held for sale (68)
Provision for allowance for expected credit losses 2 138
Change in operating assets and liabilities:    
Accounts receivable 57 (1,520)
Loans receivable (1,007)
Deposits, prepayments, and other receivables (11) 66
Accounts payable and other current liabilities 30,800 9,847
Accounts payable and other current liabilities, related parties 1,293 1,335
Escrow liabilities (821) (2,165)
Operating lease liabilities (499) (462)
Income tax payable 11 54
Net cash used in operating activities (4,969) (20,355)
Cash flows from investing activities:    
Proceeds from disposal of assets held for sale 283 1,527
Net cash provided by investing activities 283 1,527
Cash flows from financing activities:    
Proceeds from borrowings, related parties 3,868 15,019
Repayments of borrowings (85)
Repayments of borrowings, related parties (55)
Net cash provided by financing activities 3,728 15,019
Effect on exchange rate change on cash, cash equivalents and restricted cash (87) 673
Net change in cash, cash equivalent and restricted cash (1,045) (3,136)
Beginning of period 12,610 17,261
End of period 11,565  
Supplemental cash flow information:    
Cash paid for income taxes $ 145