Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (54,060) $ (137,240)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Provision for credit losses on consumer receivables 77,453 36,644
Depreciation and amortization expense 15,584 1,502
Change in deferred fees and costs, net 1,405 2,847
Change in fair value of warrants (7,275) 54,285
Change in fair value of subordinated convertible notes   41,877
Change in fair value of contingent consideration from mergers and acquisitions (14,034)  
Gain on loan forgiveness   (3,207)
Gains on foreign currency translation (209) (178)
Expenses related to debt modification and prepayments 730  
Stock compensation expense 13,643 2,425
Deferred income taxes (28,442)  
Changes in assets and liabilities, net of effects of business combination:    
Accrued interest receivable 87 481
Enterprise receivables (4,960) 243
Other assets (9,104) (15,449)
Accounts payable and accrued liabilities 3,113 6,278
Other liabilities (3,827) 7,430
Net cash used in operating activities (9,896) (2,062)
Cash flows from investing activities:    
Net originations and collections of finance receivables (76,559) (90,861)
Purchase of property, equipment and software (6,464) (354)
Acquisition of Even Financial, net of cash acquired (18,584)  
Net cash used in investing activities (101,607) (91,215)
Cash flows from financing activities:    
Repayments to secured/senior lenders (24,029) (556)
Repayment of related party loan   (5,000)
Fees related to debt prepayment (375)  
Proceeds from special purpose vehicle credit facilities 10,000  
Proceeds from issuance of subordinated convertible notes   36,750
Borrowings from secured lenders 69,300 20,000
Payment of deferred financing costs (1,625) (2,147)
Redemption of founder's common stock   (9,700)
Payment of redeemed stock options   (10,651)
Proceeds from issuance of common stock related to exercise of stock options and warrants 1,217 265
Proceeds from reverse capitalization, net of transaction costs   301,062
Contributions from redeemable noncontrolling interests   53,000
Redemptions by redeemable noncontrolling interests   (4,556)
Distributions to noncontrolling interests   (7,115)
Net cash provided by financing activities 54,488 371,352
Net change in cash and restricted cash (57,015) 278,075
Cash and restricted cash, beginning of period 246,224 20,927
Cash and restricted cash, end of period 189,209 299,002
Supplemental disclosure of cash flow information:    
Cash paid for interest 19,777 2,878
Accrued redemptions by redeemable noncontrolling interests   500
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of preferred stock to common stock 20,250 302,475
Issuance of common stock related to convertible debt   92,627
Issuance of common stock related to warrants exercised   85,502
Acquisition of public and private warrants   $ 29,466
Accrued dividends on preferred stock 4,892  
Lease liabilities incurred in exchange for operating right-of-use assets 7,568  
Contingent consideration issued related to mergers and acquisitions $ 45,336