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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating activities    
Net loss $ (48,517) $ (128,906)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 5,544 7,133
Provision for credit losses 58,386 66,266
Changes in fair value of derivative asset on loans to stockholders 0 5,572
Changes in fair value of earnout liabilities (22) (9,629)
Changes in fair value of public and private warrant liabilities (260) (14,192)
Gain on extinguishment of liability 0 (4,290)
Stock-based compensation 26,674 40,639
Non-cash interest 3,114 2,304
Non-cash lease expense (20) (100)
Changes in fair value of marketable securities and investments 44 (578)
Changes in operating assets and liabilities:    
Member advances, service revenue (4,082) (6,842)
Prepaid income taxes 683 550
Prepaid expenses and other current assets 3,311 (6,805)
Accounts payable (5,935) 330
Accrued expenses 1,661 (1,684)
Legal settlement accrual (6,120) 5,749
Other current liabilities (446) (263)
Other non-current liabilities 5 0
Other non-current assets (266) (137)
Net cash provided by (used in) operating activities 33,754 (44,883)
Investing activities    
Payments for internally developed software costs (7,895) (8,584)
Purchase of property and equipment (688) (728)
Net disbursements and collections of Member advances (62,967) (114,323)
Purchase of investments (120,016) (202,091)
Sale and maturity of investments 177,863 32,228
Purchase of marketable securities (34,399) (317,675)
Sale of marketable securities 33,727 325,594
Net cash used in investing activities (14,375) (285,579)
Financing activities    
Proceeds from PIPE offering 0 195,000
Proceeds from escrow account 0 29,688
Payment of issuance costs 0 (23,005)
Payment for fractional shares on reverse stock split (12) 0
Proceeds from issuance of common stock for stock option exercises 34 620
Repurchase of common stock 0 (536)
Proceeds from borrowings on convertible debt 0 100,000
Proceeds from borrowings on debt and credit facilities   40,000
Repayment of borrowings on credit facility 0 (20,000)
Net cash provided by financing activities 22 321,767
Net increase (decrease) in cash and cash equivalents and restricted cash 19,401 (8,695)
Cash and cash equivalents and restricted cash, beginning of the period 23,677 32,372
Cash and cash equivalents and restricted cash, end of the period 43,078 23,677
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment purchases in accounts payable and accrued liabilities 2 3
Operating lease right of use assets recognized 298 0
Operating lease liabilities recognized 298 0
Conversion of convertible preferred stock to Class A common stock in connection with the reverse recapitalization 0 72,173
Recapitalization transaction costs liability incurred 0 10,650
Conversion of convertible notes and accrued interest to Class A common stock in connection with the reverse recapitalization 0 720
Conversion of B-1 warrants to Class A common stock in connection with the reverse recapitalization 0 3,365
Discharge of PIPE promissory note in connection with the reverse recapitalization 0 15,000
Supplemental disclosure of cash (received) paid for:    
Income taxes (586) (622)
Interest 8,630 5,677
The following table provides a reconciliation of cash and cash equivalents, and restricted cash reported within the condensed consolidated balance sheets with the same as shown in the consolidated statement of cash flows    
Cash and cash equivalents 41,759 22,889
Restricted cash 1,319 788
Total cash, cash equivalents, and restricted cash, end of the period $ 43,078 $ 23,677