2023 Q3 Form 10-Q Financial Statement

#000176232223000062 Filed on August 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.26M $88.48M
YoY Change -73.72% -62.86%
Cash & Equivalents $23.30M $88.48M
Short-Term Investments $0.00
Other Short-Term Assets $26.73M $5.140M
YoY Change 420.02% -20.89%
Inventory $24.01M $136.6M
Prepaid Expenses
Receivables $3.943M $8.899M
Other Receivables $0.00 $0.00
Total Short-Term Assets $77.94M $239.1M
YoY Change -67.4% -37.98%
LONG-TERM ASSETS
Property, Plant & Equipment $1.823M $48.24M
YoY Change -96.22% 950.77%
Goodwill $2.070M
YoY Change
Intangibles $9.255M
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $1.323M $15.35M
YoY Change -91.38% 531.52%
Total Long-Term Assets $32.15M $90.16M
YoY Change -64.34% 426.59%
TOTAL ASSETS
Total Short-Term Assets $77.94M $239.1M
Total Long-Term Assets $32.15M $90.16M
Total Assets $110.1M $329.2M
YoY Change -66.56% -18.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.423M $24.05M
YoY Change -64.98% 91.29%
Accrued Expenses $16.53M $36.58M
YoY Change -54.82% 43.64%
Deferred Revenue
YoY Change
Short-Term Debt $14.44M $93.83M
YoY Change -84.61% 88.86%
Long-Term Debt Due $62.00K
YoY Change
Total Short-Term Liabilities $58.81M $154.6M
YoY Change -61.95% 76.19%
LONG-TERM LIABILITIES
Long-Term Debt $165.9M $162.3M
YoY Change 2.19% 12.92%
Other Long-Term Liabilities $51.00K $36.46M
YoY Change -99.86% 1079.9%
Total Long-Term Liabilities $51.00K $198.8M
YoY Change -99.97% 6333.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $58.81M $154.6M
Total Long-Term Liabilities $51.00K $198.8M
Total Liabilities $240.8M $353.4M
YoY Change -31.84% 39.01%
SHAREHOLDERS EQUITY
Retained Earnings -$686.6M
YoY Change
Common Stock $2.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$130.8M -$24.11M
YoY Change
Total Liabilities & Shareholders Equity $110.1M $329.2M
YoY Change -66.56% -18.23%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2

Facts In Submission

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us-gaap Depreciation Depletion And Amortization
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6460000 usd
us-gaap Depreciation Depletion And Amortization
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
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sft Noncash Revenue Adjustment Milestones Related Party
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us-gaap Amortization Of Debt Discount Premium
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2270000 usd
us-gaap Restructuring Costs And Asset Impairment Charges
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14001000 usd
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us-gaap Increase Decrease In Accounts Payable
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8712000 usd
us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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1781000 usd
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us-gaap Payments To Develop Software
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us-gaap Payments To Acquire Businesses Gross
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15000000 usd
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sft Proceeds From Disgorgement Of Stockholders Short Swing Profits
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Interest Paid Net
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us-gaap Income Taxes Paid Net
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125000 usd
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163000 usd
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25000 usd
sft Share Based Compensation Arrangements By Share Based Payment Award Early Exercised Options Vested
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us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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us-gaap Stock Issued1
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us-gaap Stock Issued1
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2481000 usd
sft Imputation Of Debt Discounts Reducing Consideration Transferred In Business Combination
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0 usd
sft Imputation Of Debt Discounts Reducing Consideration Transferred In Business Combination
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2103000 usd
sft Operating Lease Right Of Use Asset Cumulative Effect Period Of Adoption Adjustment
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0 usd
sft Operating Lease Right Of Use Asset Cumulative Effect Period Of Adoption Adjustment
OperatingLeaseRightOfUseAssetCumulativeEffectPeriodOfAdoptionAdjustment
42602000 usd
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0 usd
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43378000 usd
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1716000 usd
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0 usd
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2492000 usd
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sft Termination Of Operating Lease Right Of Use Asset
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sft Termination Of Operating Lease Liabilities
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sft Termination Of Finance Lease Right Of Use Assets
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sft Termination Of Finance Lease Liabilities
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us-gaap Number Of Reportable Segments
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CY2021Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Out Of Level3
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6300000 usd
us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Use Of Estimates
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<div style="margin-top:10pt;padding-left:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt;padding-left:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to the valuation of vehicle inventory, capitalized website and internal-use software development costs, fair value of Class A common stock, financial instruments, convertible debt, stock-based compensation and income taxes.</span></div>Management bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from those estimates.
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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2830000 usd
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3360000 usd
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CY2022Q4 us-gaap Property Plant And Equipment Net
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CY2023Q2 us-gaap Depreciation
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200000 usd
CY2022Q2 us-gaap Depreciation
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us-gaap Depreciation
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us-gaap Depreciation
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P12M
CY2023Q2 us-gaap Operating Lease Impairment Loss
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1300000 usd
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
2100000 usd
us-gaap Operating Lease Impairment Loss
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CY2022Q2 us-gaap Operating Lease Impairment Loss
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16460000 usd
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12492000 usd
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CY2022Q4 sft Operating And Finance Lease Property And Equipment Accounts Receivable And Other Assets Held For Sale Finance Lease
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4155000 usd
CY2023Q2 sft Lease Right Of Use Asset
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CY2022Q4 sft Lease Right Of Use Asset
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CY2023Q2 us-gaap Operating Lease Liability Current
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3594000 usd
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8865000 usd
CY2023Q2 sft Operating And Finance Lease And Other Liabilities Associated With Assets Held For Sale Operating Leases
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15772000 usd
CY2022Q4 sft Operating And Finance Lease And Other Liabilities Associated With Assets Held For Sale Operating Leases
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10138000 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
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37001000 usd
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73284000 usd
CY2023Q2 us-gaap Operating Lease Cost
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CY2022Q2 us-gaap Operating Lease Cost
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5224000 usd
us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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us-gaap Finance Lease Right Of Use Asset Amortization
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132000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
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CY2023Q2 us-gaap Finance Lease Interest Expense
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CY2022Q2 us-gaap Finance Lease Interest Expense
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us-gaap Finance Lease Interest Expense
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268000 usd
us-gaap Finance Lease Interest Expense
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CY2023Q2 us-gaap Short Term Lease Cost
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127000 usd
CY2022Q2 us-gaap Short Term Lease Cost
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253000 usd
us-gaap Short Term Lease Cost
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295000 usd
us-gaap Short Term Lease Cost
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1085000 usd
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CY2022Q2 us-gaap Variable Lease Cost
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191000 usd
us-gaap Variable Lease Cost
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us-gaap Variable Lease Cost
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376000 usd
CY2023Q2 us-gaap Sublease Income
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774000 usd
CY2022Q2 us-gaap Sublease Income
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us-gaap Sublease Income
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1015000 usd
us-gaap Sublease Income
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CY2023Q2 us-gaap Lease Cost
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CY2022Q2 us-gaap Lease Cost
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5668000 usd
us-gaap Lease Cost
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us-gaap Lease Cost
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8847000 usd
us-gaap Operating Lease Payments
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us-gaap Finance Lease Interest Payment On Liability
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us-gaap Finance Lease Principal Payments
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183000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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19426000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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6857000 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P5Y3M3D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0792
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P13Y2M1D
CY2023Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.1121
CY2023Q2 sft Sublease Income Number Of Leases Income Derived From
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4 sublease
CY2023Q2 sft Gain On Disposal Of Operating Leased Asset
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6300000 usd
CY2023Q2 sft Loss On Disposal Of Operating Leased Asset
LossOnDisposalOfOperatingLeasedAsset
3300000 usd
sft Gain On Disposal Of Operating Leased Asset
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3200000 usd
sft Loss On Disposal Of Operating Leased Asset
LossOnDisposalOfOperatingLeasedAsset
3800000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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3693000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
134000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
8437000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
195000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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7847000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
200000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
7778000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
206000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7764000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
211000 usd
CY2023Q2 sft Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
8679000 usd
CY2023Q2 sft Finance Lease Liability To Be Paid Due After Year Four
FinanceLeaseLiabilityToBePaidDueAfterYearFour
2176000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
44198000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
3122000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
8748000 usd
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<div style="margin-top:12pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">10. COMMITMENTS AND CONTINGENCIES</span></div><div style="margin-top:10pt;padding-left:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Litigation</span></div><div style="margin-top:10pt;padding-left:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company may be subject to legal proceedings and claims that arise in the ordinary course of business. Other than the matters discussed below, Management is not currently aware of any matters that will have a material effect on the financial position, results of operations, or cash flows of the Company. </span></div><div style="margin-top:10pt;padding-left:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Stifel matter</span></div><div style="margin-top:10pt;padding-left:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 7, 2021, we were named in a lawsuit filed in the U.S. District Court for the Southern District of New York (Stifel, Nicolaus &amp; Company, Inc. v. Shift Technologies, Inc. 21-cv-04135) by a former financial advisor, Stifel, Nicolaus &amp; Company, Inc. (“Stifel”), claiming that we are required to pay the former financial advisor certain compensation as a result of the IAC Merger. In addition, the complaint seeks punitive damages as a result of alleged unjust enrichment for the amount of the benefits allegedly conferred on Shift by Stifel. On August 24, 2022, Stifel's suit was dismissed with prejudice. On September 16, 2022, Stifel filed a Notice of Appeal with the U.S. Court of Appeals for the Second Circuit and formally filed its appeal with the Second Circuit on January 20, 2023. Shift filed its responsive pleading on April 20, 2023. Following the dismissal of Stifel's initial suit, the probable incurred losses related to the claim are immaterial as of June 30, 2023. Based on such information as is available to us, the range of additional reasonably possible losses related to the claim does not exceed $4.0 million, excluding any punitive damages which the Company cannot currently estimate. The Company believes the claim is without merit and intends to defend itself vigorously; however, there can be no assurances that the Company will be successful in its defense. </span></div><div style="margin-top:10pt;padding-left:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">CarLotz stockholder matters</span></div><div style="margin-top:10pt;padding-left:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 4, 2022, a lawsuit entitled Derek Dorrien v. CarLotz, Inc. et al., Case No. 1:22-cv-09463, was filed in the United States District Court for the Southern District of New York against CarLotz and the members of the CarLotz board of directors (the “Dorrien Action”). On November 4, 2022, a lawsuit entitled Sholom D. Keller v. CarLotz, Inc. et al., Case No. 2022-1006-NAC, was filed in the Court of Chancery of the State of Delaware against CarLotz and the members of the CarLotz board of directors (the “Keller Action” and together with the Dorrien Action, the “Actions”). The Dorrien Action alleges that the defendants violated Sections 14(a) (and Rule 14a-9 promulgated thereunder) and 20(a) of the Exchange Act by, among other things, omitting certain allegedly material information with respect to the transactions contemplated by the Merger Agreement (the “Transactions”) in the registration statement on Form S-4 (the “Registration Statement”) filed by us with the Securities and Exchange Commission on September 26, 2022. The Keller Action alleges that the members of the CarLotz board of directors and Lev Peker, in his capacity as an officer of CarLotz, breached their fiduciary duties in connection with the Transactions. The Actions seek, among other things, injunctive relief, money damages and the costs of the Actions, including reasonable attorneys’ and experts’ fees. We believe that the plaintiffs’ allegations in the Actions are without merit; however, litigation is inherently uncertain and there can be no assurance that CarLotz’s or our defense of the action will be successful.</span></div><div style="margin-top:10pt;padding-left:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, on October 3, 2022, a purported stockholder of CarLotz sent a demand to CarLotz and us regarding the Registration Statement (the “CarLotz Stockholder Demand”). The CarLotz Stockholder Demand alleges the Registration Statement omits material information with respect to the Transactions and demands that CarLotz, the CarLotz board of directors, and Shift provide corrective disclosures. Shift disagrees with and intends to vigorously defend against any claim, if asserted, arising from the CarLotz Stockholder Demand.</span></div><div style="margin-top:10pt;padding-left:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Delaware Section 205 Petition</span></div><div style="margin-top:10pt;padding-left:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 6, 2023, Shift filed a petition in the Delaware Court of Chancery under Section 205 of the Delaware General Corporation Law (the “DGCL”) to resolve potential uncertainty with respect to the Company’s share capital. Such uncertainty was introduced by a recent decision in Garfield v. Boxed, Inc., 2022 WL 17959766 (Del. Ch. Dec. 27, 2022) that potentially affects the Company and many other similarly situated companies that were formed and became publicly traded as a special purpose acquisition company (“SPAC”). Out of an abundance of caution, the Company elected to pursue the remedial actions described below. Concurrently with the filing of the Petition, the Company filed a motion to expedite the hearing on the Petition, which was subsequently granted on March 6, 2023.</span></div><div style="margin-top:10pt;padding-left:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In October 2020, the Company, which was then a SPAC named Insurance Acquisition Corp. (“IAC”), held a special meeting of stockholders (the “IAC Special Meeting”) to approve certain matters relating to the merger between IAC and a privately held company then called Shift Technologies, Inc. One of these matters was a proposal to amend and restate IAC’s Amended and Restated Certificate of Incorporation (the “SPAC Charter”) in order to, among other things, increase the number of authorized shares of Class A common stock from 50,000,000 to 500,000,000 (such proposal, the “Share Increase Proposal” and, together with such other amendments to the SPAC Charter, the “Charter Proposals”). At the IAC Special Meeting, the Charter Proposals were approved by a majority of the outstanding shares of Class A common stock and a majority of the outstanding shares of Class B common stock of IAC as of the record date for the IAC Special Meeting, voting together as a single class. After the IAC Special Meeting, IAC and Shift Technologies, Inc. closed the merger pursuant to which the Company became the parent of Shift Technologies, Inc. (now named Shift Platform, Inc.), and the Company’s certificate of incorporation, as amended to give effect to the Charter Proposals and to change the Company’s name to Shift Technologies, Inc., became effective. </span></div><div style="margin-top:10pt;padding-left:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The recent ruling by the Delaware Court of Chancery in the Boxed case introduced uncertainty as to whether Section 242(b)(2) of the DGCL would have required the Share Increase Proposal to be approved by the vote of the majority of IAC’s then-outstanding shares of Class A common stock, voting as a separate class. The Company had been operating with the understanding that the Charter Proposals were validly approved at the IAC Special Meeting. In light of this recent ruling, however, to resolve potential uncertainty with respect to the Company’s share capital, the Company filed a petition in the Delaware Court of Chancery under Section 205 of the DGCL to seek validation of the Charter Proposals. Section 205 of the DGCL permits the Court of Chancery, in its discretion, to ratify and validate potentially defective corporate acts.</span></div><div style="margin-top:10pt;padding-left:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 6, 2023, the Court of Chancery granted the motion to expedite and set a hearing date for the Petition to be heard. On March 17, 2023, the hearing took place and the Court of Chancery approved the Company’s request for relief. The Court of Chancery then entered an order under Section 205 of the DGCL on March 17, 2023, declaring (i) the increase in aggregate number of authorized shares of Class A common stock, par value $0.0001, of the Company from 50,000,000 to 500,000,000 under the Company’s Second Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) and the Certificate of Incorporation, including the filing and effectiveness thereof, are validated and declared effective retroactive to the date of its filing with the Secretary of State of the State of Delaware on October 13, 2020 and (2) all shares of capital stock of the Company issued in reliance on the effectiveness of the Certificate of Incorporation are validated and declared effective as of the date and time of the original issuance of such shares.</span></div>
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300000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
300000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
700000 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
10700000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y4M9D
sft Proceeds From Disgorgement Of Stockholders Short Swing Profits
ProceedsFromDisgorgementOfStockholdersShortSwingProfits
100000 usd
CY2023Q2 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1300000 usd
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
2300000 usd
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0 usd
CY2022Q2 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0 usd
us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.42
us-gaap Restructuring Charges
RestructuringCharges
900000 usd
CY2023Q2 us-gaap Restructuring Charges
RestructuringCharges
0 usd
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
794000 usd
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
0 usd
us-gaap Payments For Restructuring
PaymentsForRestructuring
311000 usd
CY2023Q2 us-gaap Restructuring Reserve
RestructuringReserve
483000 usd
CY2023Q2 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
5800000 usd
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
2700000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-145000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
27000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-90000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-25776000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-25776000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-25776000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-52198000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-52198000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-52198000 usd
us-gaap Net Income Loss
NetIncomeLoss
-73873000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-73873000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-73873000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-109247000 usd
us-gaap Net Income Loss
NetIncomeLoss
-109247000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-109247000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16954995 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16954995 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8095278 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8095278 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16936636 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16936636 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7990264 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7990264 shares
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.52
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.52
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-6.45
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-6.45
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.36
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.36
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-13.67
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-13.67
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6141331 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3121085 shares

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