v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net loss $ (174,366) $ (288,084)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 20,519 11,048
Amortization of debt discount and issuance costs 125 6,949
Accretion of discount on investments in debt securities (817) (125)
Equity-based compensation expense 12,790 17,040
Goodwill impairment 76,737 70,636
Non-cash lease expense 673 1,954
Provision for doubtful accounts 42 351
Loss on extinguishment of debt 15,826 2,577
Increase in fair value of derivatives 16,368 142,962
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable (18,364) 14,239
(Increase) in contract assets (1,039) (1,285)
(Increase) in prepaid expenses and other assets (6,437) (3,138)
Increase (decrease) in accounts payable 2,004 (2,889)
Increase in accrued expenses 701 6,514
Increase in contract liabilities 6,510 966
(Decrease) increase in other liabilities (1,030) 168
Net cash used in operating activities (49,758) (20,117)
Cash flows from investing activities:    
Purchases of investments in debt securities (140,625) (258,739)
Proceeds from maturities and sales of investments in debt securities 191,898 0
Acquisition of businesses, net of cash acquired (10,183) 0
Purchases of property and equipment (879) (273)
Capitalized software development costs 0 (3,841)
Net cash provided by (used in) investing activities 40,211 (262,853)
Cash flows from financing activities:    
Proceeds from issuance of shares for exercised RDO and PIPE warrants 0 64,673
Payment of Private Placement and Registered Direct Offering transaction costs 0 (551)
Repayment of short-term borrowings 0 (818)
Proceeds from at-the-market offering 0 637,073
Payment of transaction costs for at-the-market offering 0 (8,284)
Payment of debt issuance costs to third parties 0 (4,679)
Payment of deferred purchase consideration (4,523) 0
Issuance of common stock upon ESPP purchase 1,590 1,069
Proceeds from exercise of options 80 3,604
Payments of tax withholding from the issuance of common stock (1,629) (2,037)
Net cash (used in) provided by financing activities (4,482) 690,050
Effect of foreign currency rate changes on cash, cash equivalents, and restricted cash 181 (641)
Net (decrease) increase in cash, cash equivalents and restricted cash (13,848) 406,439
Cash, cash equivalents, and restricted cash at the beginning of the period 92,647 50,141
Cash, cash equivalents, and restricted cash at the end of the period 78,799 456,580
Supplemental schedule of non-cash investing and financing activities:    
Issuance of common stock upon conversion of 2029 Notes 233,356 135,597
Issuance of common stock for paid-in-kind interest on 2029 Convertible Notes 0 4,095
Issuance of common stock for exercise of RDO and PIPE warrants, net of cash received 0 49,832
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 77,112  
Restricted cash 1,687  
Cash, cash equivalents, and restricted cash at end of the period $ 78,799 $ 456,580