Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

v3.26.1
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenue    
Total revenue $ 65,819 $ 72,142
Cost of revenue    
Total cost of revenue (exclusive of depreciation and amortization shown separately below) 26,703 33,022
Operating expenses    
Selling, general, and administrative expenses 30,072 27,665
Depreciation and amortization 13,151 13,911
Total operating expenses 43,223 41,576
Operating loss (4,107) (2,456)
Other expense (income)    
Interest income (258) (144)
Change in fair value of warrant liabilities to affiliates 11,544 (1,804)
Other (income) expense, net (439) 314
Loss before income taxes (28,382) (13,799)
Income tax expense 74 1,109
Net loss $ (28,456) $ (14,908)
Loss per share:    
Basic (in dollars per share) $ (1.43) $ (0.77)
Diluted (in dollars per share) $ (1.43) $ (0.77)
Weighted average shares outstanding:    
Basic (in shares) 19,968,098 19,433,080
Diluted (in shares) 19,968,098 19,433,080
Comprehensive loss    
Net loss $ (28,456) $ (14,908)
Other comprehensive loss:    
Foreign currency translation adjustment 841 (944)
Comprehensive loss (27,615) (15,852)
Nonrelated Party    
Other expense (income)    
Interest expense, including amortization of deferred financing costs 6,710 7,032
Affiliate    
Other expense (income)    
Interest expense, including amortization of deferred financing costs 6,718 5,945
Services    
Revenue    
Total revenue 55,857 55,431
Cost of revenue    
Total cost of revenue (exclusive of depreciation and amortization shown separately below) 21,139 23,326
Products    
Revenue    
Total revenue 9,962 16,711
Cost of revenue    
Total cost of revenue (exclusive of depreciation and amortization shown separately below) $ 5,564 $ 9,696