Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (80,323) $ (60,837)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 115,155 95,985
Non-cash compensation expense 53,204 58,141
Non-cash interest expense 4,237 4,258
Non-cash goodwill impairment 96,269 0
Non-cash gain on deconsolidation (19,523) 0
Non-cash Convertible Promissory Note impairment 3,700 0
Loss from equity method investments 3,327 7,694
Fair market value adjustments to investments in private companies 1,508 (2,804)
Lease related impairments 689 2,483
Other (1,173) (303)
Changes in operating assets and liabilities:    
Fees receivable, net 6,578 (9,621)
Prepaid expenses and other assets (7,944) (17,534)
Accounts payable, accrued expenses and other liabilities 14,218 278
Deferred revenue (3,513) (3,974)
Net cash provided by operating activities 186,409 73,766
Cash flows from investing activities:    
Purchases of property and equipment (5,939) (18,275)
Capitalization of internally developed software (57,127) (71,117)
Deconsolidation of non-controlling interest (11,073) 0
Investments in private companies (3,055) (4,175)
Acquisition of proprietary technology (4,481) (12,000)
Issuance of loan receivable to private company 0 (20,000)
Other 0 400
Net cash used in investing activities (81,675) (125,167)
Cash flows from financing activities:    
Proceeds from borrowings on Revolving Credit Facility 0 55,000
Payments related to Revolving Credit Facility 0 (55,000)
Payments related to Convertible Notes 0 (45,000)
Proceeds from exercise of stock options 1,081 839
Payments related to tax withholdings for stock-based compensation (15,847) (17,004)
Payments related to share repurchases 0 (9,289)
Proceeds from capital contributions received by non-controlling interest 12,012 0
Purchase of non-controlling units from third-party shareholders 0 (1,008)
Other 4 4
Net cash used in financing activities (2,750) (71,458)
Effect of exchange rate on changes on cash and cash equivalents (6) 3,897
Net change in cash and cash equivalents 101,978 (118,962)
Cash and cash equivalents, beginning of period 91,378 162,173
Cash and cash equivalents, end of period 193,356 43,211
Supplemental disclosures of cash flow information    
Net cash paid for income taxes 13,175 13,552
Cash paid for interest 12,487 12,231
Supplemental disclosure of non-cash activities    
Conversion of equity method investee loan to shares 0 4,129
Right-of-use assets obtained in exchange for lease liabilities, net 753 359
Purchases of property and equipment included in accounts payable, accrued expenses and other liabilities $ 0 $ 6,441