Annual report pursuant to Section 13 and 15(d)

PARENT COMPANY INFORMATION - Condensed Statement of Cash Flows (Details)

v3.24.0.1
PARENT COMPANY INFORMATION - Condensed Statement of Cash Flows (Details) - USD ($)
$ in Thousands
 2 Months Ended 10 Months Ended 12 Months Ended
Dec. 31, 2021
Dec. 31, 2021
Nov. 08, 2021
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:          
Net income (loss) $ (682,149) $ (682,149) $ 20,629 $ 67,486 $ 91,758
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:          
Interest and payment-in-kind on preferred shares   944 0 6,792 6,537
Share-based compensation   4,821 156 1,596 14,649
Share-based compensation - Founders advisory fees - related party (equity settled)   287,200 0 0 0
Changes in operating assets and liabilities, net of acquisitions:          
Intercompany receivable   27,977 (28,872) (14,435) (6,190)
Prepaid expenses and other current assets   (5,230) (9,426) 1,014 1,922
Accounts payable   8,194 10,108 (15,335) 9,696
Accrued expenses and other current liabilities   436 146 (1,758) (647)
Net cash provided by (used in) operating activities   4,359 67,991 193 (40,172)
Cash flows from investing activities:          
Purchase of property and equipment   (1,468) (8,282) (9,435) (8,613)
Investment in subsidiaries   (1,209,155) 0 0 0
Net cash used in investing activities   (1,210,623) (15,746) (14,894) (10,251)
Cash flows from financing activities:          
Ordinary shares repurchased   0 0 (64,066) (49,341)
Proceeds from exercise of warrants   0 0 0 529
Net cash used in financing activities   (697,221) (64,210) (64,453) (48,812)
Net change in cash and cash equivalents   (1,904,223) (11,530) (79,474) (98,804)
Cash and cash equivalents, beginning of period 2,129,777 10,948 22,478 126,750 225,554
Cash and cash equivalents, end of period 225,554 225,554 10,948 47,276 126,750
Non-cash investing and financing activities:          
Liability portion of founders advisory fees - related party reclassified to additional paid in capital   0 0 2,618 19,568
Redeemable preferred shares issued as consideration for business combination   100,000 0 0 0
Management Subscribers rollover contribution   11,048 $ 0 0 0
Parent Company          
Cash flows from operating activities:          
Net income (loss)   (680,457)   67,486 91,758
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:          
Founders advisory fees - related party (change in accounting fair value)   0   (108,481) (117,302)
Equity in earnings of subsidiaries   24,279   20,908 1,806
Interest and payment-in-kind on preferred shares   944   4,754 5,229
Share-based compensation   1,182   361 285
Share-based compensation - Founders advisory fees - related party (equity settled)   287,200   0 0
Changes in operating assets and liabilities, net of acquisitions:          
Intercompany receivable   (14,325)   16,038 766
Prepaid expenses and other current assets   (8,195)   898 4,496
Accounts payable   455   (2,792) 3,090
Accrued expenses and other current liabilities   889   265 1,729
Founders advisory fees - related party (cash settled)   365,789   (4,655) (53,547)
Net cash provided by (used in) operating activities   (22,239)   (5,218) (61,690)
Cash flows from investing activities:          
Purchase of property and equipment   0   (142) (124)
Investment in subsidiaries   (1,209,155)   14,000 (71,638)
Intercompany note receivable   (20,000)   0 20,000
Net cash used in investing activities   (1,229,155)   13,858 (51,762)
Cash flows from financing activities:          
Ordinary shares repurchased   0   (64,066) (44,333)
Proceeds from exercise of warrants   0   0 529
Net cash used in financing activities   2,000   (64,066) (43,804)
Net change in cash and cash equivalents   (1,249,394)   (55,426) (157,256)
Cash and cash equivalents, beginning of period 1,465,807     59,157 216,413
Cash and cash equivalents, end of period $ 216,413 216,413   3,731 59,157
Non-cash investing and financing activities:          
Liability portion of founders advisory fees - related party reclassified to additional paid in capital   0   2,618 19,568
Redeemable preferred shares issued as consideration for business combination   100,000   0 0
Management Subscribers rollover contribution   11,048   0 0
Parent Company | Director Subscribers          
Cash flows from financing activities:          
Sale of Ordinary Shares issued to Director Subscribers   $ 2,000   $ 0 $ 0