v3.24.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash, cash equivalents and restricted cash $ 43,094 $ 30,278
Accounts receivable, net 22,653 32,411
Contract assets 46,069 36,961
Inventory 2,055 1,516
Income tax receivable 636 636
Prepaid insurance 1,291 1,083
Prepaid expenses and other current assets 10,738 6,428
Total current assets 126,536 109,313
Property, plant and equipment, net of accumulated depreciation of $9,539 and $6,538, respectively 16,929 15,909
Right-of-use assets 10,668 13,181
Intangible assets, net of accumulated amortization of $24,151 and $18,509, respectively 62,516 62,985
Goodwill 72,572 65,757
Equity method investments 0 3,613
Other non-current assets 724 511
Total assets 289,945 271,269
Current liabilities:    
Accounts payable 19,936 18,573
Notes payable to sellers 11 0
Short-term debt, including current portion of long-term debt 1,751 1,378
Short-term operating lease liabilities 3,518 3,737
Short-term finance lease liabilities 501 439
Accrued expenses 27,813 32,902
Deferred revenue 56,684 52,645
Other current liabilities 20,807 2,362
Total current liabilities 131,021 112,036
Long-term debt, net 121,553 86,842
Long-term operating lease liabilities 9,790 12,302
Long-term finance lease liabilities 1,089 1,137
Warrant liabilities 11,436 3,325
Deferred tax liabilities 2,379 2,402
Other non-current liabilities 401 400
Total liabilities 277,669 218,444
Commitments and contingencies (Note J – Commitments and Contingencies)
Convertible preferred stock [1] 108,696 96,106
Shareholders’ Equity (Deficit):    
Preferred stock, $0.0001 par value, 99,874,708 shares authorized; none issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 0 0
Common stock, $0.0001 par value, 500,000,000 shares authorized; 66,540,871 and 65,546,174 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 7 7
Treasury stock, 614,654 and 353,470 shares, at cost, as of September 30, 2024 and December 31, 2023, respectively (2,688) (951)
Additional paid-in capital 184,325 188,323
Accumulated deficit (280,937) (233,791)
Accumulated other comprehensive income (loss) 2,873 2,903
Total shareholders’ equity (deficit) (96,420) (43,509)
Noncontrolling interests 0 228
Total equity (deficit) (96,420) (43,281)
Total liabilities, convertible preferred stock and equity (deficit) $ 289,945 $ 271,269
[1] Please refer to Note K – Convertible Preferred Stock for additional information.

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