| Summary of Major Categories of Income from Discontinued Operations |
The following table presents the major categories of income from discontinued operations for the six months ended June 30, 2026 (in thousands):
|
|
|
|
|
|
|
Six Months Ended |
|
|
|
June 30, 2026 |
|
Gross profit |
|
$ |
444 |
|
Selling, general and administrative expenses |
|
|
(2,935 |
) |
Change in fair value of investments |
|
|
6,162 |
|
Other expenses, net |
|
|
(124 |
) |
Income from discontinued operations before income taxes |
|
|
3,547 |
|
Income tax expense |
|
|
(17 |
) |
Net loss before allocation to noncontrolling interests |
|
|
3,530 |
|
Less: Net income attributable to noncontrolling interests |
|
|
3,281 |
|
Income from discontinued operations |
|
$ |
249 |
|
There was no income from discontinued operations for the three months ended June 30, 2026. The following table presents the major classes of assets and liabilities of discontinued operations as of December 31, 2025 (in thousands):
|
|
|
|
|
|
|
December 31,
2025 |
|
Cash and cash equivalents |
|
$ |
5,991 |
|
Accounts receivable |
|
|
16,804 |
|
Prepaid and other current assets |
|
|
8,895 |
|
Total current assets of discontinued operations |
|
$ |
31,690 |
|
Property, plant and equipment, net |
|
|
161 |
|
Operating lease right-of-use lease assets |
|
|
48 |
|
Intangibles |
|
|
1,069 |
|
Goodwill |
|
|
3,393 |
|
Equity investments |
|
|
1,327 |
|
Other investments |
|
|
40,399 |
|
Other noncurrent assets |
|
|
4,491 |
|
Total non-current assets of discontinued operations |
|
|
50,888 |
|
Total assets of discontinued operations |
|
$ |
82,578 |
|
Accounts payable |
|
|
1,941 |
|
Accrued expenses |
|
|
1,809 |
|
Notes payable -current |
|
|
12,301 |
|
Operating lease liabilities - current |
|
|
40 |
|
Due to related parties |
|
|
4,162 |
|
Other current liabilities |
|
|
1,537 |
|
Total current liabilities of discontinued operations |
|
|
21,790 |
|
Deferred Tax Liabilities |
|
|
102 |
|
Total non-current liabilities of discontinued operations |
|
|
102 |
|
Total liabilities of discontinued operations |
|
$ |
21,892 |
|
The following table presents selected financial information related to cash flows from discontinued operations for the six months ended June 30, 2026 (in thousands):
|
|
|
|
|
|
|
Six Months Ended |
|
|
|
June 30, 2026 |
|
Net cash used in operating activities |
|
$ |
(1,121 |
) |
Net cash provided by financing activities |
|
$ |
45,886 |
|
|