Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

v3.24.3
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue        
Total revenue $ 68,920 $ 68,633 $ 212,763 $ 204,144
Cost of revenue        
Total cost of revenue (exclusive of depreciation and amortization shown separately below) 30,719 30,996 94,177 93,029
Operating expenses        
Depreciation and amortization 14,214 14,457 42,243 43,094
Goodwill impairment 0 78,255 65,864 78,255
Total operating expenses 43,827 125,490 208,293 217,219
Operating loss (5,626) (87,853) (89,707) (106,104)
Other expense (income)        
Interest income (212) (209) (887) (438)
Change in fair value of warrant liabilities to affiliates 337 (14) (6,349) (14)
Other expense, net 798 341 1,407 546
Loss before income taxes (19,820) (98,454) (123,114) (137,307)
Income tax benefit (412) (3,093) (2,486) (3,957)
Net loss $ (19,408) $ (95,361) $ (120,628) $ (133,350)
Loss per share:        
Basic (in dollars per share) $ (1.00) $ (5.50) $ (6.28) $ (8.23)
Diluted (in dollars per share) $ (1.00) $ (5.50) $ (6.28) $ (8.23)
Weighted average shares outstanding:        
Basic (in shares) 19,458,102 17,331,056 19,200,229 16,209,376
Diluted (in shares) 19,458,102 17,331,056 19,200,229 16,209,376
Comprehensive loss        
Net loss $ (19,408) $ (95,361) $ (120,628) $ (133,350)
Other comprehensive loss:        
Foreign currency translation adjustment (279) (230) 438 28
Comprehensive loss (19,687) (95,591) (120,190) (133,322)
Nonrelated Party        
Operating expenses        
Selling, general, and administrative expenses 29,458 32,610 99,702 95,040
Other expense (income)        
Interest expense, including amortization of deferred financing costs 7,844 10,483 23,573 31,109
Affiliate        
Operating expenses        
Selling, general, and administrative expenses 155 168 484 830
Other expense (income)        
Interest expense, including amortization of deferred financing costs 5,427 0 15,663 0
Services        
Revenue        
Total revenue 58,204 57,046 175,162 155,619
Cost of revenue        
Total cost of revenue (exclusive of depreciation and amortization shown separately below) 22,951 22,794 69,816 57,405
Products        
Revenue        
Total revenue 10,716 11,587 37,601 48,525
Cost of revenue        
Total cost of revenue (exclusive of depreciation and amortization shown separately below) $ 7,768 $ 8,202 $ 24,361 $ 35,624