|
Depreciation and amortization
|
|
$171k
|
$235k
|
$331k
|
$1.6m
|
$1.8m
|
$2.1m
|
$2.3m
|
|
Commercial agreement asset amortization
|
|
$0
|
$0
|
$84.3m
|
$149.0m
|
$150.5m
|
$148.6m
|
$66.0m
|
|
Intangible assets amortization
|
|
—
|
$0
|
$0
|
$27.8m
|
$20.4m
|
$18.8m
|
$18.7m
|
|
Increase (decrease) in deferred taxes
|
|
($7k)
|
$52k
|
($90k)
|
($8.2m)
|
$120k
|
($6.5m)
|
($436k)
|
|
Share-based compensation expense
|
|
$221k
|
$4.0m
|
$12.0m
|
$38.9m
|
$45.0m
|
$39.2m
|
$39.3m
|
|
Decrease in operating lease ROU assets
|
|
($606k)
|
($2.8m)
|
$1.4m
|
$3.3m
|
$3.2m
|
$3.7m
|
$4.0m
|
|
Decrease in operating lease liabilities
|
|
$636k
|
$3.0m
|
($437k)
|
($4.4m)
|
($3.1m)
|
($3.5m)
|
($1.4m)
|
|
Net Profit (loss)
|
|
($7.5m)
|
$3.9m
|
($74.9m)
|
($195.4m)
|
($133.8m)
|
($75.5m)
|
$68.3m
|
|
Unrealized loss (gain) on foreign currency
|
|
—
|
—
|
$2.4m
|
$7.8m
|
($1.9m)
|
$4.5m
|
($11.0m)
|
|
Changes in accrued interest and exchange rate on short-term deposits
|
|
—
|
$0
|
$0
|
($291k)
|
($416k)
|
($1.3m)
|
($3.1m)
|
|
Changes in accrued interest and exchange rate on long-term deposits
|
|
—
|
$0
|
$24k
|
($931k)
|
($255k)
|
$200k
|
$0
|
|
Losses from marketable securities
|
|
—
|
$0
|
$140k
|
$73k
|
—
|
—
|
—
|
|
Increase in accounts receivable
|
|
($1.2m)
|
($1.7m)
|
($5.6m)
|
$2.7m
|
($11.4m)
|
($13.3m)
|
($14.4m)
|
|
Increase in prepaid expenses and other assets
|
|
($3.9m)
|
($12.3m)
|
($23.2m)
|
($2.7m)
|
($11.7m)
|
($18.0m)
|
($36.0m)
|
|
Increase in funds receivable
|
|
($1.3m)
|
($11.8m)
|
($29.3m)
|
$17.1m
|
($11.1m)
|
($3.2m)
|
($6.7m)
|
|
Decrease (increase) in other assets, noncurrent
|
|
—
|
—
|
$0
|
($1.3m)
|
($339k)
|
$551k
|
($391k)
|
|
Increase in long-term receivables
|
|
$0
|
($150k)
|
$0
|
($1.3m)
|
—
|
—
|
—
|
|
Increase in funds payable to customers
|
|
$12.5m
|
$12.9m
|
$23.1m
|
$17.7m
|
$33.1m
|
$11.8m
|
$58.7m
|
|
Increase in deferred contract acquisition costs
|
|
($245k)
|
($429k)
|
($814k)
|
($761k)
|
($1.2m)
|
($1.4m)
|
($688k)
|
|
Increase (decrease) in accounts payable (including an increase of related party payables of $711, $19,706, $8,348 for the years ended December 31, 2023, 2024 and 2025, respectively)
|
|
$4.1m
|
$10.0m
|
$5.0m
|
$16.6m
|
($1.3m)
|
$28.6m
|
$12.0m
|
|
Increase in accrued expenses and other liabilities (including an increase of related party payables of $1,173, $3,387, $4,564 for the years ended December 31, 2023, 2024 and 2025, respectively)
|
|
$4.2m
|
$18.9m
|
$17.9m
|
$20.5m
|
$30.6m
|
$34.3m
|
$88.7m
|
|
Investment in marketable securities
|
|
$0
|
($16.8m)
|
($2.8m)
|
($8.3m)
|
($3.7m)
|
($21.1m)
|
($39.5m)
|
|
Proceeds from marketable securities
|
|
$0
|
$0
|
$748k
|
$8.1m
|
$671k
|
$5.0m
|
$4.0m
|
|
Purchases of short-term and long-term deposits
|
|
—
|
—
|
—
|
—
|
($175.3m)
|
($266.2m)
|
($417.5m)
|
|
Proceeds from short-term and long-term deposits
|
|
$0
|
$0
|
$81.7m
|
$74.4m
|
$125.1m
|
$180.6m
|
$301.3m
|
|
Investment in joint ventures
|
|
—
|
—
|
—
|
—
|
—
|
($1.0m)
|
($3.0m)
|
|
Purchases of property and equipment
|
|
($264k)
|
($456k)
|
($2.9m)
|
($8.4m)
|
($1.7m)
|
($2.3m)
|
($3.1m)
|
|
Proceeds from exercise of share options
|
|
$147k
|
$539k
|
$1.6m
|
$1.2m
|
$2.0m
|
$3.3m
|
$1.4m
|
|
Proceeds from repurchases of shares
|
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($72.2m)
|
|
Proceeds from exercise of warrants to Ordinary Shares
|
|
—
|
—
|
$529k
|
$73k
|
$22k
|
$5k
|
$0
|
|
Purchases of property and equipment during the period included in accounts payable
|
|
$11k
|
$13k
|
$1k
|
$0
|
$0
|
$2.3m
|
$3.1m
|
|
ROU assets and lease liabilities created during the period
|
|
$1.2m
|
$3.7m
|
$17.3m
|
$2.9m
|
$6.6m
|
$5.1m
|
$44k
|
|
Recognition of Commercial agreement asset
|
|
$0
|
$0
|
$280.8m
|
$235.5m
|
$60.2m
|
$22.4m
|
$0
|
|
Net cash provided by operating activities
|
|
$7.0m
|
$29.4m
|
$15.7m
|
$81.5m
|
$108.2m
|
$169.4m
|
$283.8m
|
|
Payments for business combinations, net of cash acquired
|
|
—
|
$0
|
$0
|
($317.5m)
|
$0
|
$0
|
($17.8m)
|
|
Purchases of short-term and long-term investments
|
|
($43k)
|
($6.4m)
|
($117.2m)
|
($78.5m)
|
($175.3m)
|
($267.2m)
|
($5.1m)
|
|
Purchases of long-term investments
|
|
($145k)
|
($456k)
|
($20k)
|
$0
|
($125.1m)
|
—
|
—
|
|
Net cash used in investing activities
|
|
($452k)
|
($24.0m)
|
($40.5m)
|
($330.1m)
|
($55.0m)
|
($105.1m)
|
($180.7m)
|
|
Net cash provided by financing activities
|
|
$147k
|
$59.4m
|
$398.6m
|
$1.2m
|
$2.0m
|
$3.3m
|
($70.8m)
|
|
Exchange rate differences on balances of cash, cash equivalents and restricted cash
|
|
—
|
—
|
($2.4m)
|
($7.8m)
|
$1.9m
|
($4.5m)
|
$11.0m
|
|
Net increase in cash, cash equivalents, and restricted cash
|
|
$6.7m
|
$64.7m
|
$373.9m
|
($247.4m)
|
$57.1m
|
$63.1m
|
$43.2m
|
|
Cash and cash equivalents and restricted cash—beginning of period
|
|
$20.4m
|
$85.0m
|
$458.9m
|
$211.5m
|
$268.6m
|
$331.7m
|
$374.9m
|