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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income / (loss) $ (15,317) $ 494
Adjustments to reconcile net income / (loss) to net cash (used in) / provided by operating activities:    
Depreciation and amortization expense 374 327
Stock-based compensation expense 12,746 1,374
Deferred tax (benefit) / expense (1,241) 100
Accrued income from long-term investments (52) (45)
Provision for expected credit loss 1,024 1
Profit on sale of property and equipment (1)
Sundry balances written back (5)
Change in fair value of forward purchase agreement put option liability (757)
Change in fair value of derivative warrant liabilities 696
Loss on issuance of shares against accounts payable 78
Unrealized exchange (gain) / loss (18) 5
Changes in operating assets and liabilities:    
Accounts receivable 104 (463)
Prepaid expenses and other current assets (231) (1,607)
Operating right-of-use assets 326 (1,139)
Other assets (217) (250)
Accounts payable 105 (639)
Accrued compensation and related benefits, current (940) (834)
Other current liabilities 1,617 1,147
Operating lease liabilities (321) 1,190
Other liabilities 305 445
Net cash (used in) / provided by operating activities (1,720) 101
Cash flows from investing activities    
Acquisition of property and equipment (370) (258)
Sale of property and equipment 2
Issuance of loans to affiliates (276) (682)
Payments received for loans to affiliates 36 374
Net cash used in investing activities (608) (566)
Cash flows from financing activities    
Net proceeds from short term borrowings (166) 1,244
Payment of insurance financing liability (220)
Proceeds from long-term debt 240 490
Repayment of long-term debt (4) (186)
Payment of finance lease obligations (123) (86)
Payment of deferred transaction costs (20) (446)
Net changes in net shareholders’ investment (10)
Proceeds from issuance of Class A ordinary shares, net of issuance cost 4,678
Net cash provided by financing activities 4,385 1,006
Effect of exchange rate changes on cash and cash equivalents 56 (8)
Net increase in cash and cash equivalents 2,113 533
Cash and cash equivalents at the beginning of the period 2,084 1,131
Cash and cash equivalents at the end of the period 4,197 1,644
Supplemental cash flow disclosure:    
Cash paid for interest 118 121
Cash paid for income taxes, net of refunds 802 185
Supplemental disclosure of non-cash investing and financing activities:    
Unpaid deferred transaction costs included in accounts payable and other current liabilities 643 1,317
Equipment acquired under finance lease obligations 38 221
Property and equipment purchase included in accounts payable $ 1 $ 37