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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (146,726) $ (78,106)
Net (loss) income from discontinued operations, net of tax 53,743 443
Net loss from continuing operations (200,469) (78,549)
Adjustments to reconcile net loss to net cash provided by operating activities    
Noncash interest income (expense) 1,664 (12,699)
Deferred financing fees related to repricing of long-term debt 1,079 0
Amortization of deferred financing fees 5,137 6,387
Impairment of goodwill and indefinite-lived assets 99,670 0
Depreciation and amortization 152,931 157,436
Change in fair value of warrant liability (359) 587
Fair value adjustments related to contingent consideration 1,678 10,487
Deferred income taxes (16,241) (56,986)
Equity-based compensation of Karman Topco L.P. (658) (3,278)
Stock-based compensation 24,224 29,401
Loss from equity method investments (2,692)
Distribution received from equity method investments 3,289 1,611
Gain on repurchases of Senior Secured Notes and Term Loan Facility debt (9,141) (5,241)
Loss on disposal of property and equipment 775 782
Changes in operating assets and liabilities, net of effects from divestitures:    
Accounts receivable, net (9,550) 19,816
Prepaid expenses and other assets 30,567 87,368
Accounts payable 25,435 (1,883)
Accrued compensation and benefits (43,849) (13,511)
Deferred revenues 2,992 14,686
Other accrued expenses and other liabilities 11,527 20,294
Net cash provided by operating activities from continuing operations 78,009 172,576
Net cash provided by operating activities from discontinued operations 6,437 8,227
Net cash provided by operating activities 84,446 180,803
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of investments in unconsolidated affiliates (13,932) (3,023)
Purchase of property and equipment (50,358) (24,424)
Proceeds from divestitures, net of cash 275,717 12,763
Proceeds from sale of investments in unconsolidated affiliates 0 4,428
Net cash provided by (used in) investing activities from continuing operations 211,427 (10,256)
Net cash used in investing activities from discontinued operations (7,304) (5,234)
Net cash provided by (used in) investing activities 204,123 (15,490)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings under lines of credit 0 77,884
Payments on lines of credit 0 (77,222)
Principal payments on long-term debt (9,938) (10,172)
Repurchases of Senior Secured Notes and Term Loan Facility debt (147,122) (103,954)
Debt issuance costs (971) 0
Proceeds from issuance of common stock 2,294 2,248
Payments for taxes related to net share settlement under 2020 Incentive Award Plan (11,663) (1,277)
Contingent consideration payments (5,655) (1,867)
Holdback payments 0 (656)
Redemption of noncontrolling interest 0 (154)
Purchase of treasury stock (34,067) 0
Net cash used in financing activities from continuing operations (207,122) (115,170)
Net cash (used in) provided by financing activities from discontinued operations (4,362) 397
Net cash used in financing activities (211,484) (114,773)
Net effect of foreign currency changes on cash from continuing operations (1,405) 655
Net effect of foreign currency changes on cash from discontinued operations (412) (2,017)
Net effect of foreign currency changes on cash (1,817) (1,362)
Net change in cash, cash equivalents and restricted cash 75,268 49,178
Cash, cash equivalents and restricted cash, beginning of period 137,202 138,532
Cash, cash equivalents and restricted cash, end of period 212,470 187,710
Less: Cash, cash equivalents and restricted cash of discontinued operations 0 4,024
Cash, cash equivalents and restricted cash, end of period 212,470 183,686
SUPPLEMENTAL CASH FLOW INFORMATION    
Gain on divestitures from discontinued operations 95,260 0
Noncash consideration for purchases of investments in unconsolidated affiliates 2,000 0
Noncash proceeds from divestitures 45,056 0
Purchase of property and equipment recorded in accounts payable and accrued expenses $ 4,650 $ 437