v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income (loss) $ 2,367 $ (8,595)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Adjustment for income from EIR method purchased receivables 1,743  
Stock-based compensation expense 1,983 2,856
Common stock contribution to 401(k) 141 118
Amortization of intangible assets 544  
Depreciation 3 2
Accretion of long-term debt discount and debt issuance costs 427 306
Non-cash lease expense 17 14
Change in fair value of equity securities 1,147 (252)
Change in fair value of available-for-sale debt securities classified as cash equivalents 45  
Changes in assets and liabilities:    
Trade and other receivables, net (3,705) 1,001
Prepaid expenses and other assets 1,176 213
Accounts payable and accrued liabilities (3,265) (105)
Operating lease liabilities (108) (15)
Unearned revenue recognized under units-of-revenue method (317) (490)
Net cash provided by (used in) operating activities 2,198 (4,947)
Cash flows from investing activities:    
Payments of consideration under RPAs, AAAs, and CPPAs (8,000) (15,000)
Receipts under RPAs, AAAs, and CPPAs 1,307 7,771
Purchase of property and equipment   (17)
Net cash used in investing activities (6,693) (7,246)
Cash flows from financing activities:    
Principal payments - debt (5,066) (3,616)
Debt issuance costs and loan fees paid in connection with long-term debt   (581)
Payment of preferred stock dividends (1,368) (1,368)
Repurchases of common stock (545) (13)
Proceeds from exercise of options and other share-based compensation 325 1,956
Taxes paid related to net share settlement of equity awards (240) (1,334)
Net cash used in financing activities (6,894) (4,956)
Net decrease in cash, cash equivalents, and restricted cash (11,389) (17,149)
Cash, cash equivalents, and restricted cash as of the beginning of the period 106,416 159,550
Cash, cash equivalents, and restricted cash as of the end of the period 95,027 142,401
Supplemental cash flow Information:    
Cash paid for interest 6,078 3,780
Cash paid for taxes 277  
Non-cash investing and financing activities:    
Accrual of contingent consideration under the Affitech CPPA   3,000
Preferred stock dividend accrual $ 1,368 $ 1,368

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