v3.26.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities    
Net loss $ (135,128) $ (190,862)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 154,901 79,408
Gain on marketable equity securities (108,939) (4,731)
Loss on disposal of property and equipment 375 0
Deferred income taxes 0 (46,216)
Losses from equity-method investments 8,318 2,465
Amortization of original issue discount 5,008 2,615
Amortization of deferred financing fees 260 398
Change in fair value of holdback liability 1,189 291
Loss on debt extinguishment 11,643 12,034
Depreciation and amortization 78,392 75,416
Provision for bad debt expense 2,450 767
Provision for obsolete inventory 111 1,135
Non-cash operating lease costs 10,296 7,866
Minimum accretion expense 97 109
PIK interest added to principal 1,674 8,839
Change in assets and liabilities    
Accounts receivable [1] (71,839) (63,199)
Inventory (2,160) (6,537)
Prepaid expenses and other current assets (6,997) (3,991)
Investments and other assets 1,883 (16,700)
Accounts payable (49,250) (18,528)
Related party asset 7,292 (25,000)
Deferred revenue [2] (24,107) 17,398
Deferred other income [3] (11,966) (11,966)
Accrued data licensing fees (3,180) 3,730
Accrued expenses & other 58,493 (5,179)
Interest payable 10,360 10,288
Operating lease liabilities (10,762) (11,152)
Net cash used in operating activities (71,586) (181,302)
Investing activities    
Purchases of property and equipment (23,665) (16,294)
Proceeds from sale of marketable equity securities 0 8,316
Business combinations, net of cash acquired (2,763) (375,025)
Capitalized software costs (12,252) (4,635)
Net cash used in investing activities (38,680) (387,638)
Financing activities    
Proceeds from convertible senior notes, net of initial purchasers' discount 443,132 726,497
Principal payments on long-term debt (207,717) (276,892)
Principal payments on revolving credit facility (100,000) 0
Prepayment premium on long-term debt (6,433) (7,841)
Payment of deferred offering costs (264) (501)
Purchases of capped call (31,234) (41,775)
Proceeds from revolving credit facility, net of original issue discount 0 98,000
Proceeds from long-term debt, net of original issue discount 0 196,000
Proceeds from issuance of common stock in connection with at-the-market offering, net of commissions 0 195,499
Payment of deferred financing fees (1,349) (1,255)
Net cash provided by financing activities 96,135 887,732
Effect of foreign exchange rates on cash (86) (78)
Net (decrease) increase in Cash, Cash Equivalents and Restricted Cash (14,217) 318,714
Cash, cash equivalents and restricted cash, beginning of period 609,451 341,835
Cash, cash equivalents and restricted cash, end of period 595,234 660,549
Cash, Cash Equivalents and Restricted Cash are Comprised of:    
Cash and cash equivalents 590,479 655,918
Restricted cash and cash equivalents 4,755 4,631
Total cash, cash equivalents and restricted cash 595,234 660,549
Supplemental disclosure of cash flow information    
Cash paid during the year for interest 15,111 37,349
Cash paid for income taxes 246 573
Preferred stock received on accounts receivable [4] 17,500 0
Supplemental disclosure of noncash investing and financing activities    
Purchases of property and equipment, accrued but not paid 10,226 3,724
Redemption of convertible promissory note 32,705 22,721
Deferred financing fees, accrued but not yet paid 0 489
Deferred offering costs, accrued but not yet paid 71 320
Reclassification of deferred offering costs to additional paid-in capital upon at-the-market offering 0 821
Operating lease liabilities arising from obtaining right-of-use assets 360 22,670
Capitalized software costs, accrued but not yet paid 21,536 0
Class A Common Stock issued in connection with business combinations 13,319 403,154
Class A Common Stock issued in connection with license agreement 0 1,443
Class A Common Stock issued in connection with holdback liability 6,173 0
Convertible promissory note principal reset due to amendment $ 0 $ 72,488
[1] Includes increase in related party accounts receivable from Pathos AI, Inc. of $5,664 and $2,352 for the nine months ended September 30, 2026 and 2025, respectively. Refer to Note 16, Related Parties. Includes increase in related party accounts receivable from SB Tempus Corp. of $145 and $108 for the nine months ended September 30, 2026 and 2025, respectively. Refer to Note 7, Joint Venture.
[2] Includes decrease in related party deferred revenue from Pathos AI, Inc. of $3,835 for the nine months ended September 30, 2026. Includes increase in related party deferred revenue from Pathos AI, Inc. of $19,918 for the nine months ended September 30, 2025, respectively. Refer to Note 16, Related Parties. Also includes decrease in related party deferred revenue from SB Tempus Corp. of $6,235 and $18,737 for the nine months ended September 30, 2026 and 2025, respectively. Refer to Note 7, Joint Venture.
[3] Includes decrease in related party deferred other income from SB Tempus Corp. of $11,966 for each of the nine months ended September 30, 2026 and 2025. Refer to Note 7, Joint Venture.
[4] Includes related party preferred stock of Pathos AI, Inc. of $17,500 for the nine months ended September 30, 2026.