v3.24.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 30,278 $ 28,316
Accounts receivable, net 32,411 26,726
Contract assets 36,961 31,041
Inventory 1,516 1,469
Income tax receivable 636 688
Prepaid insurance 1,083 2,240
Prepaid expenses and other current assets 6,428 5,687
Total current assets 109,313 96,167
Property, plant and equipment, net of accumulated depreciation of $6,538 and $3,032, respectively 15,909 12,761
Right-of-use assets 13,181 13,103
Intangible assets, net of accumulated amortization of $18,509 and $11,247, respectively 62,985 66,871
Goodwill 65,757 64,618
Equity method investments 3,613 3,269
Other non-current assets 511 909
Total assets 271,269 257,698
Current liabilities:    
Accounts payable 18,573 17,584
Notes payable to sellers 0 1,000
Short-term debt, including current portion of long-term debt 1,378 2,578
Short-term operating lease liabilities 3,737 3,214
Short-term finance lease liabilities 439 299
Accrued expenses 32,902 36,581
Deferred revenue 52,645 29,817
Other current liabilities 2,362 3,666
Total current liabilities 112,036 94,739
Long-term debt, net 86,842 74,745
Long-term operating lease liabilities 12,302 12,670
Long-term finance lease liabilities 1,137 579
Warrant liabilities 3,325 1,314
Deferred tax liabilities 2,402 3,255
Other non-current liabilities 400 506
Total liabilities 218,444 187,808
Commitments and contingencies (Note N – Commitments and Contingencies)
Convertible preferred stock [1] 96,106 76,365
Shareholders’ Equity (Deficit):    
Preferred stock, $0.0001 par value, 99,874,708 shares authorized; none issued and outstanding as of December 31, 2023 and December 31, 2022, respectively 0 0
Common stock, $0.0001 par value, 500,000,000 shares authorized; 65,546,174 and 64,280,631 issued and outstanding as of December 31, 2023 and December 31, 2022, respectively 7 6
Treasury stock, 353,470 and 141,811 shares, at cost, as of December 31, 2023 and December 31, 2022, respectively (951) (381)
Additional paid-in capital 188,323 198,126
Accumulated deficit (233,791) (206,528)
Accumulated other comprehensive income (loss) 2,903 2,076
Total shareholders’ equity (deficit) (43,509) (6,701)
Noncontrolling interests 228 226
Total equity (deficit) (43,281) (6,475)
Total liabilities, convertible preferred stock and equity (deficit) $ 271,269 $ 257,698
[1] Please refer to Note O – Convertible Preferred Stock for additional information.

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