v3.25.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash $ 19,656 $ 19,408
Accounts receivable, net 45,396 43,980
Inventories, net 6,067 6,653
Prepaid expenses and other current assets 9,415 9,922
Total current assets 80,534 79,963
Noncurrent assets:    
Restricted cash 294 293
Property and equipment, net 7,852 9,052
Intangible assets, net 115,057 125,057
Goodwill 228,844 228,844
Operating lease right-of-use assets 8,346 8,412
Other non-current assets 4,207 4,212
Total assets 445,134 455,833
Current liabilities:    
Accounts payable 18,559 14,827
Accrued liabilities 29,244 31,849
Current portion of operating lease liabilities 1,447 1,431
Deferred revenue 8,433 8,509
Current portion of long-term debt and other borrowings, net 1,850 1,850
Warrant liabilities to affiliates 5,820 7,624
Total current liabilities 65,353 66,090
Noncurrent liabilities:    
Operating lease liabilities 8,141 8,278
Long-term debt and other borrowings, net 295,528 295,661
Deferred income tax liabilities, net 3,398 4,131
Accrued interest due to affiliate 29,460 23,798
Mandatorily redeemable preferred stock due to affiliate, net 143,058 142,776
Other liabilities 15,095 14,699
Total liabilities 560,033 555,433
Commitments and Contingencies
Stockholders’ deficit:    
Common stock, voting, par value $0.0001 per share; 315,000,000 shares authorized; 18,236,851 shares issued and 17,044,114 outstanding as of March 31, 2025, and 18,201,093 shares issued and 17,008,356 outstanding as of December 31, 2024 8 8
Additional paid-in capital 469,264 468,711
Accumulated other comprehensive loss (4,722) (3,778)
Accumulated deficit (576,264) (561,356)
Treasury stock, at cost, 1,192,737 shares (3,185) (3,185)
Total stockholders’ deficit (114,899) (99,600)
Total liabilities and stockholders’ deficit $ 445,134 $ 455,833

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