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FY2025
12 months to Dec 31, 2025
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|
|---|---|
| Cash flows from operating activities: | |
| Net loss | |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |
| Stock-based compensation | |
| Change in value of embedded derivative | |
| Change in value of warrant liabilities | |
| Change in value of contingent liabilities | |
| Change in value of convertible debt, excluding interest | |
| Depreciation and amortization | |
| Accretion of warrant discount on convertible debt | |
| Interest accrued on convertible debt and short-term note payable | |
| Provision for bad debts | |
| Release of indemnification related to QuickFrame Holdback | |
| Interest income from notes receivable | |
| Provision for deferred income taxes | |
| Change in operating assets and liabilities: | |
| Accounts receivable | |
| Prepaid expenses and other assets | |
| Accounts payable and accrued expenses | |
| Accrued payroll and related liabilities | |
| Other liabilities | |
| Net cash provided by operating activities | |
| Cash flows from investing activities: | |
| Issuance of short term notes receivable | |
| Proceeds from short term notes receivable | |
| Capitalized internal use software costs | |
| Net cash used in investing activities | |
| Cash flows from financing activities: | |
| Proceeds from issuance of Class A common stock in initial public offering, net of underwriting discounts and commissions | |
| Payments of initial public offering costs | |
| Payments on revolving credit facility | |
| Proceeds from revolving credit facility | |
| Payments on settlement of convertible debt | |
| Proceeds from exercises of stock options | |
| Payments to repurchase common stock | |
| Net cash provided by (used in) financing activities | |
| Net increase in cash and cash equivalents | |
| Cash and cash equivalents, beginning of year | |
| Cash and cash equivalents, end of year | |
| Supplemental disclosure of cash flow information: | |
| Cash paid for interest | |
| Cash paid (received) for income taxes | |
| Non-cash investing and financing activities: | |
| Conversion of stock and debt during the period | |
| Conversion of redeemable convertible preferred stock to Class A common stock in connection with initial public offering | |
| Conversion of convertible debt to Class A common stock upon initial public offering | |
| Conversion of common stock to Class A and Class B common stock upon initial public offering | |
| Cashless exercise of common stock warrants | |
| Reclassification of deferred offering costs to additional paid-in capital in connection with initial public offering | |
| Issuance of warrants in connection with convertible debt modification | |
| Net settlement of employee note receivable and payable | |
| Issuance of employee loans for exercise of stock options |
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