v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net loss $ (213,127) $ (28,393)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 15,386 8,966
Amortization of intangible assets 20,629 20,487
Amortization of operating lease right-of-use assets 6,324 6,348
Amortization of deferred financing costs 2,238 2,186
Stock-based compensation expense 38,870 25,246
Deferred income taxes 0 (9,808)
Change in estimated fair value of contingent consideration (1,373) 69
Goodwill impairment 154,239 0
Revaluation of liabilities under the Tax Receivable Agreement 39 2,342
Other 1,478 (4,474)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 25,704 93,180
Inventory 50 2,833
Prepaid expenses and other current and noncurrent assets 970 1,761
Accounts payable (1,531) 3,625
Accrued expenses and other current liabilities (21,118) 8,962
Deferred revenue (1,526) (558)
Other long-term liabilities (5,149) (14,338)
Net cash provided by operating activities 22,103 118,434
Investing activities:    
Cash paid for acquisition of a business, net of cash acquired 0 (69,622)
Purchases of property and equipment (23,809) (48,754)
Proceeds from government assistance allocated to property and equipment 5,424 8,969
Purchase of technology (1,000) 0
Net cash used in investing activities (19,385) (109,407)
Financing activities:    
Distributions for tax liabilities to non-controlling interest holder (572) (9,607)
Principal repayments of long-term debt (4,080) (4,080)
Payments of finance lease liabilities (453) (190)
Proceeds from interest rate cap agreement 7,062 3,845
Payment of acquisition consideration holdback 0 (9,706)
(Taxes paid for shares withheld) proceeds from issuance of Class A common stock under employee equity plans, net (1,480) 331
Net cash provided by (used in) financing activities 477 (61,560)
Net increase (decrease) in cash and cash equivalents 3,195 (52,533)
Cash and cash equivalents, beginning of period 574,962 632,138
Cash and cash equivalents, end of period 578,157 579,605
Supplemental cash flow information:    
Cash paid for interest 35,866 32,188
Cash paid (refunded) for income taxes, net 644 (3,077)
Supplemental disclosures of non-cash activities:    
Property and equipment included in accounts payable and accrued expenses 1,805 3,703
Purchase of technology included in accrued expenses 500 0
Accrued receivable for capital expenditures to be reimbursed under a government contract 1,410 3,528
Right-of-use assets obtained in exchange for finance lease liabilities 0 32,862
Right-of-use assets obtained in exchange for operating lease liabilities 1,287 3,931
Fair value of contingent consideration liability recorded in connection with acquisition of a business 0 5,289
MLSH 1    
Financing activities:    
Payments pursuant to the Tax Receivable Agreement 0 (35,661)
MLSH 2    
Financing activities:    
Payments pursuant to the Tax Receivable Agreement $ 0 $ (6,492)

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