Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net loss $ (61,191) $ (88,794)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 37,360 31,786
Share-based compensation expense 2,958 1,567
Provision for revenue adjustments 647 1,038
Deferred income tax expense (benefit) (2,792) 2,945
Other 3,799 4,169
Changes in operating assets and liabilities, net of effects from the purchase of acquired businesses:    
Accounts receivable (21,145) (20,495)
Other receivables (434) 5,367
Other current and noncurrent assets 767 (7,104)
Accounts payable and accrued expenses 67,646 17,802
Net cash provided by (used in) operating activities 27,615 (51,719)
Investing activities:    
Proceeds from sale of property and equipment 691 849
Purchases of property and equipment (11,906) (4,970)
Purchase of a business, net of cash acquired 0 (1,565,242)
Other (24) (89)
Net cash used in investing activities (11,239) (1,569,452)
Financing activities:    
Repayments of finance lease obligations (4,431) (4,562)
Proceeds from credit facility 25,000 0
Payments on credit facility (25,000) (80,000)
Payment of debt issuance costs 0 (60,591)
Payment of earn-out liability 0 (12,247)
Payment of minimum tax withholdings on share-based awards (894) (1,326)
Net cash used in financing activities (5,325) (158,726)
Effect of exchange rate changes on cash 357 94
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents 11,408 (1,779,803)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 105,266 1,952,073
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 116,674 172,270
Reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents:    
Cash and cash equivalents 116,311 152,042
Restricted cash and restricted cash equivalents 363 20,228
Total cash, cash equivalents, restricted cash and restricted cash equivalents shown in the statement of cash flow: $ 116,674 $ 172,270