v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Cash flows from operating activities              
Net loss $ 3,667 $ (3,276) $ (501) $ (1,849) $ (201) $ (3,854) $ (5,900)
Adjustments to reconcile net loss to net cash used in operating activities:              
Amortization and depreciation [1] 97   65   257 172  
Foreign exchange gain         0 (1)  
Noncash interest expense         158 78  
Noncash lease expense         147 57  
Change in deferred taxes         (3,642) 0  
Share-based compensation         1,142 753  
Loss on liquidation of Ellmount Support         0 10  
Changes in operating assets and liabilities:              
Due from affiliates         456 523  
Prepaid expenses and other current assets         453 (162)  
Other assets         (9) 208  
Accounts payable         (830) 917  
Accrued expenses         (1,201) (336)  
Player liabilities         110 280  
Due to affiliates         (1,306) 0  
Operating lease liabilities         (114) 0  
Other liabilities         54 0  
Net cash used in operating activities         (4,526) (1,355)  
Cash flows from investing activities              
Investment in capitalized software         (450) (150)  
Purchase of property and equipment         (30) (175)  
Net cash used in investing activities         (480) (325)  
Cash flows from financing activities              
Payment of deferred offering costs         0 (163)  
Settlement of affiliated debt         (90) 0  
Proceeds from issuance of debt         0 500  
Liquidation of Ellmount Support         0 (3)  
Net cash (used in) provided by financing activities         (90) 334  
Effect of exchange rate changes on cash, cash equivalents and restricted cash         640 222  
Net change in cash, cash equivalents, and restricted cash         (4,456) (1,124)  
Cash, cash equivalents, and restricted cash – beginning of period   $ 7,954   $ 4,045 7,954 4,045 4,045
Cash, cash equivalents, and restricted cash – end of period $ 3,498   $ 2,921   3,498 2,921 $ 7,954
Non-cash financing activities:              
Acquisition of right of use asset in exchange for lease obligations         $ 0 $ 975  
[1]  Includes amortization of intangible assets generated through business acquisitions and depreciation of property and equipment, amortization of contract costs, and amortization of internally developed software and other intangible assets. Excludes amortization of right of use assets.

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