v3.25.3
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating Activities:    
Net loss $ (998,828) $ (77,142)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation 1,592 1,173
Amortization 77,371 33,441
Provision for bad debt 986 650
Operating lease expense 3,958 1,598
Stock-based compensation 15,718 879
Deferred tax provision (31,231) (12,392)
Impairment of long-lived assets 0 2,019
Impairment of goodwill 921,600 0
Fair value adjustment to debt 1,323 0
Gain on disposal of intangibles 0 90
Gain on disposal of property, plant and equipment 5 168
Remeasurement of contingent consideration 0 2,264
Net foreign exchange (gain)/loss 2,752 793
Other (340)  
Changes in operating assets and liabilities (net of the impact of acquisitions):    
Accounts receivable (2,643) 3,096
Prepaid expenses and other current assets (768) (3,466)
Related party receivables (8,472) (1,139)
Accounts payable (3,205) (1,108)
Income taxes payable (2,180) 1,479
Accrued expenses and other current liabilities (8,254) (273)
Accrued compensation expenses 6,693 0
Operating lease liabilities with right of use (4,713) (2,248)
Contract liabilities 20,768 14,678
Contingent consideration 0 (1,020)
Other assets (liabilities) 732 570
Related party payables 11,720 243
Net cash provided by (used in) operating activities 4,584 (35,647)
Investing activities:    
Purchases of property and equipment, and other capitalized assets (212) (302)
Purchases of intangible assets (12,350) (4,631)
Purchase of investments (291) 0
Acquisitions of businesses, net of acquired cash (1,350) 0
Sale of short-term investments 76,795 0
Net cash provided by (used in) investing activities 62,592 (4,933)
Financing activities:    
Cash pool arrangements with Parent 0 27,338
Contingent consideration settlement 0 (3,980)
Issuance of common stock from restricted stock awards 1 0
Tax withholdings related to net share settlements (629) 0
Proceeds from related party long term debt 135,000 0
Repayment of related party long term debt (15,000) (213)
Repayment of convertible notes (417,033) 0
Net transfer from Parent 0 27,866
Net cash provided by (used in ) financing activities (297,661) 51,011
Effect of exchange rate changes on cash and cash equivalents 803 388
Net decrease in cash and cash equivalents (229,682) 10,819
Cash and cash equivalents at beginning of year 275,983 10,789
Cash and cash equivalents at end of year 46,301 21,608
Supplemental disclosure of cash flow information:    
Cash paid for taxes, net 6,083 1,448
Cash paid for interest on related party long term debt 6,732 18,928
Schedule of non-cash investing and financing activities:    
Operating lease liabilities arising from obtaining operating lease right-of-use assets   226
Intangible asset purchases included in accrued expenses and other current liabilities $ 0 48
Capitalization of short-term debt   250,000
Loans settled through existing cash pool arrangements   $ 59,689