v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:      
Net loss $ (69,175) $ (70,800)  
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 21,699 20,154  
Provision for credit losses 673 168  
Less stock-based compensation expense from discontinued operations 5,928 8,646  
Gain on sale of energy group   (2,572)  
Change in fair value of contingent consideration   1,468  
Change in deferred taxes (4,968) (2,858)  
Amortization of debt issuance costs and debt discounts 4,636 649  
Amortization of right-of-use assets 399 1,127  
Imputed non-cash interest income (263) (108)  
Changes in assets and liabilities:      
Accounts receivable 2,959 14,052  
Expenditures billable to clients (17,550) (2,108)  
Prepaid expenses and other assets 407 1,224  
Other assets 3,425 (1,300)  
Accounts payable (8,346) 2,405  
Deferred revenue 23 (913)  
Accrued media payments 14,033 (17,718)  
Client advances 19,697 (1,567)  
Other accrued liabilities 2,130 4,714  
Other liabilities 70 (2,774)  
Net cash used in operating activities (24,223) (48,111) $ (76,421)
Cash flows from investing activities:      
Proceeds from sale of energy group 1,800 504  
Capital expenditures (5,134) (4,054)  
Acquisitions, net of cash acquired   (50,195)  
Net cash used in investing activities (3,334) (53,745)  
Cash flows from financing activities:      
Payment of debt principal (3,875)    
Payment of purchase consideration   (7,772)  
Taxes paid related to net share settlement of equity awards (653) (1,088)  
Proceeds from issuances of stock under employee stock plans, net 433 1,063  
Settlement of deferred consideration for acquisitions (1,800) (2,690)  
Net cash used in financing activities (5,895) (10,487)  
Net decrease in cash and cash equivalents and restricted cash (33,452) (112,343)  
Cash and cash equivalents and restricted cash, beginning of period 80,306 185,282 185,282
Cash and cash equivalents and restricted cash, end of period 46,854 72,939 $ 80,306
Less: Cash and cash equivalents and restricted cash included in discontinued operations 34,496 63,964  
Cash and cash equivalents and restricted cash included in continuing operations 12,358 8,975  
Non-cash investing and financing activities:      
Fair value of shares issued for acquisition of businesses and earn-out consideration   756  
Stock-based compensation capitalized for software development $ 299 289  
Lease liabilities arising from right-of-use assets   1,436  
Shares received for sale of energy group   $ 2,021  

Source

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