7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 
      
    		                      
      assets
    		                      
      current assets
    		                      
      cash, cash equivalents
    		6,736,000 10,484,000 30,276,000 12,935,000 13,045,000 16,905,000 9,486,000 23,240,000 23,184,000 23,307,000 76,794,000 89,828,000 93,566,000 98,414,000 93,791,000 146,254,000 16,006,000 40,189,000 10,641,000 34,386,000 38,377,000 44,814,000 
      accounts receivable
    		165,314,000 160,004,000 139,683,000 158,883,000 152,849,000 135,669,000 104,734,000                
      contract assets
    		68,743,000 75,313,000 60,745,000 52,091,000 65,553,000 73,224,000 73,466,000 51,629,000 57,081,000 57,114,000 53,563,000 52,403,000 60,444,000 47,740,000 51,716,000 40,139,000 46,270,000 55,033,000 61,636,000 38,576,000 35,441,000 22,775,000 
      prepaid and other current assets
    		15,185,000 15,117,000 18,690,000 14,090,000 15,489,000 14,222,000 16,752,000 13,668,000 15,419,000 16,469,000 15,178,000 10,292,000 10,890,000 10,406,000 11,701,000 7,957,000 9,839,000 7,706,000 8,830,000 6,709,000 8,585,000 10,194,000 
      total current assets
    		255,978,000 260,918,000 249,394,000 237,999,000 246,936,000 240,020,000 204,438,000 200,924,000 213,059,000 200,610,000 231,007,000 247,928,000 245,827,000 244,236,000 238,858,000 293,858,000 138,586,000 175,279,000 146,878,000 134,268,000 127,188,000 121,038,000 
      non-current assets
    		                      
      property and equipment
    		62,952,000 61,122,000 60,520,000 63,776,000 66,096,000 63,627,000 59,745,000                
      operating lease right-of-use asset
    		34,850,000 37,706,000 39,046,000 39,755,000 40,923,000 38,898,000 32,869,000                
      finance lease right-of-use asset
    		24,489,000 23,825,000 21,405,000 19,643,000 17,242,000 14,827,000 14,588,000                
      goodwill
    		469,025,000 468,981,000 468,351,000 467,789,000 482,607,000 435,483,000 463,450,000 364,449,000 356,399,000 368,563,000 326,498,000 323,868,000 318,413,000 315,626,000 316,173,000 311,944,000 304,237,000 287,293,000 282,199,000 274,667,000 274,309,000 273,096,000 
      other intangible assets
    		132,849,000 139,844,000 146,898,000 152,756,000 144,652,000 142,870,000 134,424,000                
      other assets
    		5,539,000 5,688,000 6,547,000 8,635,000 8,437,000 8,191,000 8,584,000 8,267,000 8,676,000 6,489,000 5,111,000 6,088,000 6,694,000 5,057,000 4,685,000 2,298,000 2,874,000 3,390,000 3,896,000 4,538,000 4,081,000 3,132,000 
      total assets
    		985,682,000 998,084,000 992,161,000 990,353,000 1,006,893,000 943,916,000 918,098,000 816,786,000 836,108,000 825,665,000 783,177,000 791,914,000 789,105,000 787,743,000 790,245,000 833,094,000 667,618,000 681,516,000 625,229,000 602,726,000 602,338,000 611,381,000 
      liabilities, convertible and redeemable series a-2 preferred stock and stockholders’ equity
    		                      
      current liabilities
    		                      
      accounts payable and other accrued liabilities
    		64,514,000 66,647,000 58,313,000 63,704,000 57,579,000 58,223,000 58,645,000 59,920,000 70,810,000 66,430,000 55,420,000 63,412,000 58,316,000 59,285,000 58,992,000 68,936,000 42,373,000 40,995,000 52,431,000 34,621,000 33,897,000 30,225,000 
      accrued payroll and benefits
    		46,299,000 37,305,000 25,611,000 34,248,000 31,556,000 28,339,000 24,125,000 34,660,000 31,286,000 25,607,000 16,352,000 20,528,000 20,477,000 18,756,000 18,679,000 25,971,000 22,485,000 19,279,000 22,564,000 21,181,000 17,957,000 15,230,000 
      business acquisitions contingent consideration, current
    		15,609,000 17,284,000 15,052,000 26,872,000 6,423,000 6,351,000 11,782,000 3,592,000 3,239,000 4,119,000 4,734,000 3,801,000 3,967,000 2,814,000 1,429,000 31,450,000 31,152,000 30,152,000 50,364,000 49,902,000 49,170,000  
      current portion of operating lease liabilities
    		10,574,000 11,355,000 11,525,000 11,345,000 11,696,000 11,134,000 10,074,000 9,963,000 11,190,000 11,271,000 8,570,000 7,895,000 8,130,000 8,226,000 8,368,000 6,888,000 6,715,000 7,268,000     
      current portion of finance lease liabilities
    		6,149,000 5,483,000 5,109,000 4,627,000 4,232,000 4,005,000 4,155,000 3,956,000 4,127,000 4,014,000 4,130,000 3,775,000 3,763,000 3,462,000 3,477,000 3,512,000 3,174,000 2,966,000     
      current portion of long-term debt
    		11,209,000 8,688,000 6,168,000 17,866,000 16,753,000 23,667,000 16,715,000 14,196,000 14,177,000 13,149,000 13,125,000 12,031,000 8,750,000 8,750,000 8,750,000 10,938,000 8,750,000 6,563,000 6,214,000 5,583,000 5,034,000  
      total current liabilities
    		154,354,000 146,762,000 121,778,000 158,662,000 128,239,000 131,719,000 125,496,000 126,287,000 134,829,000 124,590,000 102,331,000 111,442,000 103,403,000 101,293,000 99,695,000 147,695,000 114,649,000 107,223,000 131,573,000 111,543,000 106,058,000 133,481,000 
      non-current liabilities
    		                      
      business acquisitions contingent consideration, long-term
    		7,810,000 7,346,000 11,648,000 6,255,000 27,924,000 9,595,000 28,679,000 2,448,000 3,130,000 2,311,000 3,121,000 4,454,000 2,810,000 3,560,000 5,566,000 4,350,000 4,200,000 1,000,000 16,971,000 4,565,000 9,742,000  
      other non-current liabilities
    		7,018,000 7,052,000 6,884,000 5,550,000 6,355,000 6,118,000 6,309,000 6,569,000 91,000 120,000 3,000 13,000 22,000 81,000 90,000 100,000 2,446,000 2,505,000 2,514,000 2,523,000 3,431,000 10,993,000 
      deferred tax liabilities
    		16,373,000 16,414,000 16,405,000 13,312,000 8,274,000 8,238,000 5,849,000                
      conversion option related to series a-2 preferred stock
    		 10,552,000 20,532,000 20,224,000 20,054,000                  
      operating lease liability, net of current portion
    		26,712,000 28,853,000 30,029,000 30,880,000 31,543,000 30,003,000 25,459,000                
      finance lease liability, net of current portion
    		12,281,000 12,490,000 12,196,000 11,460,000 9,378,000 8,223,000 8,921,000                
      long-term debt, net of deferred financing fees
    		302,415,000 264,555,000 235,617,000 204,818,000 233,007,000 188,749,000 280,948,000                
      total liabilities
    		526,963,000 494,024,000 455,089,000 451,161,000 464,774,000 402,215,000 500,698,000 342,606,000 368,279,000 359,731,000 320,144,000 325,799,000 319,779,000 319,964,000 321,553,000 363,665,000 368,992,000 389,527,000 344,562,000 312,653,000 310,643,000 356,688,000 
      commitments and contingencies
    		                      
      convertible and redeemable series a-2 preferred stock 0.0001 par value
    		                      
      authorized, issued and outstanding shares: 0 and 11,667 at september 30, 2025 and december 31, 2024, respectively; aggregate liquidation preference of 0.0 million and 122.2 million september 30, 2025 and december 31, 2024, respectively
    		                      
      stockholders’ equity:
    		                      
      common stock
    		                      
      additional paid-in-capital
    		728,028,000 747,685,000 738,659,000 721,067,000 693,931,000 682,879,000 548,443,000  524,112,000 514,494,000 504,301,000  485,030,000 477,783,000 470,897,000  291,850,000 287,365,000 261,588,000  261,945,000 54,405,000 
      accumulated deficit
    		-265,295,000 -273,673,000 -292,029,000 -272,670,000 -244,447,000 -233,883,000 -223,713,000 -210,356,000 -208,915,000 -201,390,000 -194,216,000 -179,497,000 -168,685,000 -162,965,000 -155,214,000 -147,678,000 -146,206,000 -148,432,000 -133,949,000 -122,353,000 -123,165,000 -92,428,000 
      accumulated other comprehensive loss
    		-4,014,000 -3,744,000 -2,486,000 -2,133,000                 -13,000 -93,000 
      total stockholders’ equity
    		458,719,000 470,268,000 444,144,000 446,264,000 449,191,000 448,773,000 324,472,000 321,252,000 314,901,000 313,006,000 310,105,000 313,187,000 316,398,000 314,851,000 315,764,000 316,501,000 145,698,000 139,061,000 127,739,000 137,145,000 138,767,000  
      total liabilities, convertible and redeemable series a-2 preferred stock and stockholders’ equity
    		985,682,000 998,084,000 992,161,000 990,353,000 1,006,893,000 943,916,000 918,098,000 816,786,000 836,108,000 825,665,000 783,177,000 791,914,000 789,105,000 787,743,000 790,245,000 833,094,000 667,618,000 681,516,000 625,229,000    
      authorized, issued and outstanding shares: 5,834 and 11,667 at june 30, 2025 and december 31, 2024, respectively; aggregate liquidation preference of 62.2 million and 122.2 million june 30, 2025 and december 31, 2024, respectively
    		 33,792,000                     
      convertible and redeemable series a-2 preferred stock 0.0001 par value:
    		                      
      authorized, issued and outstanding shares: 11,667 at march 31, 2025 and december 31, 2024; aggregate liquidation preference of 122.2 million march 31, 2025 and december 31, 2024
    		  92,928,000                    
      income tax receivable
    		       27,000    694,000    508,000       
      authorized, issued and outstanding shares: 11,667 and 17,500 at december 31, 2024 and december 31, 2023, respectively; aggregate liquidation preference of 122.2 million and 182.2 million at december 31, 2024 and december 31, 2023, respectively
    		   92,928,000                   
      authorized, issued and outstanding shares: 11,667 and 17,500 at september 30, 2024 and december 31, 2023, respectively; aggregate liquidation preference of 122.2 million and 182.2 million at september 30, 2024 and december 31, 2023, respectively
    		    92,928,000                  
      accumulated other comprehensive income
    		    -293,000 -223,000 -258,000 -223,000 -296,000 -98,000 20,000 8,000 53,000 33,000 81,000 36,000 54,000 128,000 100,000 71,000   
      conversion option
    		     19,570,000 19,037,000 19,017,000 27,828,000 27,155,000 26,636,000 25,731,000 24,730,000 24,207,000 23,637,000 23,081,000 22,537,000 22,006,000 21,488,000 20,886,000 18,059,000  
      authorized, issued and outstanding shares: 11,667 and 17,500 at june 30, 2024 and december 31, 2023, respectively; aggregate liquidation preference of 122.2 million and 182.2 million at june 30, 2024 and december 31, 2023, respectively
    		     92,928,000                 
      current assets:
    		                      
      non-current assets:
    		                      
      current liabilities:
    		                      
      non-current liabilities:
    		                      
      authorized, issued and outstanding shares: 11,667 and 17,500 at march 31, 2024 and december 31, 2023, respectively; aggregate liquidation preference of 122.2 million and 182.2 million at march 31, 2024 and december 31, 2023, respectively
    		      92,928,000                
      accounts receivable—net
    		       112,360,000 117,375,000 103,720,000 85,472,000 94,711,000 80,927,000 87,676,000 81,650,000 98,513,000 66,471,000 72,351,000 65,771,000 54,102,000 44,785,000 43,255,000 
      property and equipment—net
    		       56,825,000 57,967,000 57,106,000 40,685,000 36,045,000 33,581,000 34,396,000 32,482,000 31,521,000 31,078,000 29,552,000 34,941,000 34,399,000 34,559,000 34,771,000 
      operating lease right-of-use asset—net
    		       32,260,000 35,795,000 44,040,000 31,214,000 26,038,000 28,453,000 29,466,000 30,129,000 23,532,000 23,111,000 25,823,000     
      finance lease right-of-use asset—net
    		       13,248,000 12,635,000 11,488,000 11,391,000 9,840,000 9,869,000 8,278,000 8,493,000 8,944,000 7,493,000 7,439,000     
      other intangible assets—net
    		       140,813,000 151,577,000 137,369,000 137,271,000 142,107,000 146,268,000 150,684,000 159,425,000 160,997,000 160,239,000 152,740,000 157,315,000 154,854,000 162,201,000 169,274,000 
      deferred tax liabilities—net
    		       6,064,000 10,034,000 7,446,000 7,111,000 5,742,000 5,766,000 6,207,000 5,304,000 4,006,000 3,059,000 2,431,000 2,591,000 2,815,000 1,936,000  
      operating lease liability—net of current portion
    		       25,048,000 31,329,000 34,754,000 24,093,000 19,437,000 20,841,000 21,714,000 22,128,000 16,859,000 16,584,000 18,643,000     
      finance lease liability—net of current portion
    		       8,185,000 8,482,000 7,379,000 7,507,000 6,486,000 6,562,000 5,199,000 5,372,000 5,756,000 4,641,000 4,785,000     
      long-term debt—net of deferred financing fees
    		       148,988,000 152,556,000 155,976,000 149,342,000 152,494,000 155,645,000 157,703,000 159,761,000 161,818,000 200,876,000 230,934,000 169,425,000 170,321,000 171,417,000 198,089,000 
      convertible and redeemable series a-2 preferred stock 0.0001 par value—
    		                      
      authorized, issued and outstanding shares: 17,500 at december 31, 2023 and 2022; aggregate liquidation preference of 182.2 million at december 31, 2023 and 2022
    		       152,928,000               
      additional paid-in capital
    		       531,831,000    492,676,000    464,143,000    259,427,000   
      authorized, issued and outstanding shares: 17,500 at september 30, 2023 and december 31, 2022; aggregate liquidation preference of 182.2 million at september 30, 2023 and december 31, 2022
    		        152,928,000              
      authorized, issued and outstanding shares: 17,500 at june 30, 2023 and december 31, 2022; aggregate liquidation preference of 182.2 million at june 30, 2023 and december 31, 2022
    		         152,928,000             
      authorized, issued and outstanding shares: 17,500 at march 31, 2023 and december 31, 2022; aggregate liquidation preference of 182.2 million at march 31, 2023 and december 31, 2022
    		          152,928,000            
      authorized, issued and outstanding shares: 17,500 at december 31, 2022 and 2021; aggregate liquidation preference of 182.2 million at december 31, 2022 and 2021
    		           152,928,000           
      authorized, issued and outstanding shares: 17,500 at september 30, 2022 and december 31, 2021; aggregate liquidation preference of 182.2 million at september 30, 2022 and december 31, 2021
    		            152,928,000          
      authorized, issued and outstanding shares: 17,500 at june 30, 2022 and december 31, 2021; aggregate liquidation preference of 182.2 million at june 30, 2022 and december 31, 2021
    		             152,928,000         
      authorized, issued and outstanding shares: 17,500 at march 31, 2022 and december 31, 2021; aggregate liquidation preference of 182.2 million at march 31, 2022 and december 31, 2021
    		              152,928,000        
      restricted cash
    		               487,000    495,000   
      income tax payable
    		                   256,000   
      authorized, issued and outstanding shares: 17,500 at december 31, 2021 and 2020; aggregate liquidation preference of 182.2 million at december 31, 2021 and 2020
    		               152,928,000       
      authorized, issued and outstanding shares: 17,500 at september 30, 2021 and december 31, 2020; aggregate liquidation preference of 182.2 million at september 30, 2021 and december 31, 2020
    		                152,928,000      
      authorized, issued and outstanding shares: 17,500 at june 30, 2021 and december 31, 2020; aggregate liquidation preference of 182.2 million at june 30, 2021 and december 31, 2020
    		                 152,928,000     
      authorized, issued and outstanding shares: 17,500 at march 31, 2021 and december 31, 2020; aggregate liquidation preference of 182.2 million at march 31, 2021 and december 31, 2020
    		                  152,928,000    
      liabilities, redeemable series a-1 preferred stock, convertible and redeemable series a-2 preferrd stock and stockholders’ equity
    		                      
      warrant option
    		                      
      contingent put option
    		                     14,125,000 
      redeemable series a-1 preferred stock 0.0001 par value—
    		                      
      authorized, issued and outstanding shares: 0 and 12,000 at december 31, 2020 and 2019; aggregate liquidation preference of 141.9 million at december 31, 2019
    		                      
      authorized, issued and outstanding shares: 17,500 and 0 at december 31, 2020 and 2019, respectively; aggregate liquidation preference of 182.2 million at december 31, 2020
    		                   152,928,000   
      stockholders’ equity (deficit) :
    		                      
      total liabilities, redeemable series a-1 preferred stock, convertible and redeemable series a-2 preferred stock and stockholders’ equity
    		                   602,726,000 602,338,000  
      liabilities, redeemable series a-1 preferred stock, convertible and redeemable series a-2 preferred stock and stockholders’ equity
    		                      
      authorized, issued and outstanding shares: 0 and 12,000 at september 30, 2020 and december 31, 2019, respectively; aggregate liquidation preference of 0 and 141,898 at september 30, 2020 and december 31, 2019, respectively
    		                      
      authorized, issued and outstanding shares: 17,500 and 0 at september 30, 2020 and december 31, 2019, respectively; aggregate liquidation preference of 182.2 million and 0 at september 30, 2020 and december 31, 2019, respectively.
    		                    152,928,000  
      stockholders’ equity
    		                      
      deferred tax asset
    		                     1,465,000 
      compound embedded option
    		                     8,605,000 
      liabilities, redeemable series a-1 preferred stock, convertible and redeemable series a-2 preferred stock and stockholders’ deficit
    		                      
      warrant options
    		                     46,978,000 
      business acquisitions contingent consideration
    		                     36,395,000 
      current portion of long term debt
    		                     4,653,000 
      authorized, issued and outstanding shares: 12,000 at june 30, 2020 and december 31, 2019; aggregate liquidation preference of 152,199 and 141,898 at june 30, 2020 and december 31, 2019, respectively
    		                     139,881,000 
      authorized, issued and outstanding shares: 17,500 and 0 at june 30, 2020 and december 31, 2019, respectively; aggregate liquidation preference of 181,213 and 0 at june 30, 2020 and december 31, 2019, respectively.
    		                     152,928,000 
      stockholders’ deficit:
    		                      
      total stockholders’ deficit
    		                     -38,116,000 
      total liabilities, redeemable series a-1 preferred stock, convertible and redeemable series a-2 preferred stock and stockholders’ deficit
    		                     611,381,000 
      revenues
    		                     73,766,000 
      cost of revenues
    		                     45,889,000 
      selling, general and administrative expense
    		                     23,301,000 
      related-party expense
    		                      
      depreciation and amortization
    		                     9,784,000 
      income from operations
    		                     -5,208,000 
      other income
    		                     21,933,000 
      interest expense—net
    		                     -5,260,000 
      total other incomes—net
    		                     16,673,000 
      income before benefit from income taxes
    		                     11,465,000 
      income taxes benefit
    		                     -1,759,000 
      net income
    		                     13,224,000 
      equity adjustment from foreign currency translation
    		                     -90,000 
      comprehensive loss
    		                     13,134,000 
      accretion of redeemable series a-1 preferred stock
    		                     -5,644,000 
      net income attributable to common stockholders
    		                     7,580,000 
      weighted-average common shares outstanding— basic
    		                     10,649,000 
      net income per share
    		                     710 
      weighted-average common shares outstanding— diluted
    		                     19,139,000 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.