v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities    
Net income (loss) $ 3,161 $ (5,923)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Amortization and depreciation 313 243
Foreign exchange gain 0 34
Noncash interest expense 82 129
Noncash lease expense 199 189
Change in deferred taxes 3,185 0
Share-based compensation 1,374 1,053
Gain on acquisition of intangible assets (4,000) 0
Changes in operating assets and liabilities:    
Due from affiliates 1,945 (1,010)
Prepaid expenses and other current assets 73 (47)
Other assets (9) 207
Deferred offering costs (79) 544
Accounts payable (462) 927
Accrued expenses (1,501) 259
Player liabilities 63 202
Due to affiliates (2,056) (461)
Other liabilities 1,023 (22)
Operating lease liabilities (174) (230)
Net cash used in operating activities (3,233) (3,906)
Cash flows from investing activities    
Investment in capitalized software (1,509) (284)
Purchase of property and equipment (51) (187)
Net cash used in investing activities (1,560) (471)
Cash flows from financing activities    
Cash settlement of affiliated debt (90) (35)
Proceeds from issuance of common stock in initial public offering, net of offering costs 0 8,078
Payment of offering costs 0 (863)
Proceeds from issuance of debt   500
Net cash (used in) provided by financing activities (90) 7,680
Non-cash investing and financing activities:    
Acquisition of right-of-use asset in exchange for lease obligations 0 1,141
Conversion of related party debt to common stock 0 375
Acquisition of Happy Hour Solutions 317 0
Effect of exchange rate changes on cash, cash equivalents and restricted cash (406) 606
Net change in cash, cash equivalents, and restricted cash (5,289) 3,909
Cash, cash equivalents, and restricted cash – beginning of period 7,954 4,045
Cash, cash equivalents, and restricted cash – end of period $ 2,665 $ 7,954

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