Annual report [Section 13 and 15(d), not S-K Item 405]

SEGMENT DISCLOSURES (Tables)

v3.25.1
SEGMENT DISCLOSURES (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table sets forth the operating financial results of the Company’s singular operating segment that are regularly reviewed by the Company’s CODM for the years ended December 31, 2024 and 2023:

For the Year Ended December 31,
(in thousands) 2024 2023
Services revenue $ 234,247  $ 212,645 
Products revenue 51,840  63,965 
Total revenue $ 286,087  $ 276,610 
Less: expenses
Cost of revenue, Services, excluding depreciation and amortization $ 93,663  $ 82,547 
Cost of revenue, Products, excluding depreciation and amortization 32,498  46,016 
Salaries and benefits 91,576  83,249 
Goodwill impairment 65,861  78,257 
Depreciation and amortization 56,218  58,363 
Interest expense 52,516  43,232 
Professional services 10,164  16,772 
Facilities and office 8,588  11,449 
License, memberships and subscriptions 8,164  7,188 
Channel partner commissions 7,003  3,511 
Foreign exchange 5,207  (615)
Network services 2,464  1,823 
Other 2,431  1,283 
Travel and entertainment 2,362  2,588 
Sales and use taxes 2,077  1,806 
Marketing, advertising and promotions 1,439  1,690 
Bad debt 1,029  183 
Interest income (1,120) (552)
Change in fair value of warrant liabilities to affiliates (4,040) 6,436 
Income tax benefit (5,937) (4,158)
Loss on extinguishment of debt —  2,584 
Segment net loss $ (146,076) $ (167,042)
Reconciliation of profit or loss:
Adjustments and reconciling items —  — 
Consolidated net loss $ (146,076) $ (167,042)