GELESIS HOLDINGS, INC.

2023 Q2 Form 10-Q Financial Statement

#000095017023022247 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.900M $3.100M $33.99M
YoY Change -68.83% -90.88% 3477.37%
Cash & Equivalents $7.909M $3.103M $33.99M
Short-Term Investments
Other Short-Term Assets $5.200M $6.700M $13.04M
YoY Change -23.0% -48.63% 25986.0%
Inventory $5.688M $5.941M $16.28M
Prepaid Expenses $207.0K $277.0K $1.892M
Receivables $799.0K $1.271M $579.0K
Other Receivables $5.100M $8.400M $9.183M
Total Short-Term Assets $24.68M $25.42M $73.07M
YoY Change -59.97% -65.2% 7206.6%
LONG-TERM ASSETS
Property, Plant & Equipment $56.93M $58.35M $58.32M
YoY Change 1.1% 0.06%
Goodwill
YoY Change
Intangibles $12.28M $12.85M $15.11M
YoY Change -15.58% -15.0%
Long-Term Investments
YoY Change
Other Assets $788.0K $777.0K $4.502M
YoY Change -83.38% -82.74%
Total Long-Term Assets $71.20M $73.36M $79.81M
YoY Change -7.92% -8.09% -71.1%
TOTAL ASSETS
Total Short-Term Assets $24.68M $25.42M $73.07M
Total Long-Term Assets $71.20M $73.36M $79.81M
Total Assets $95.88M $98.78M $152.9M
YoY Change -31.01% -35.39% -44.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.052M $7.905M $13.24M
YoY Change -59.11% -40.3% 488.49%
Accrued Expenses $7.277M $7.480M $10.12M
YoY Change -25.1% -26.12%
Deferred Revenue
YoY Change
Short-Term Debt $28.30M $26.00M $0.00
YoY Change
Long-Term Debt Due $5.000M $7.400M $2.001M
YoY Change 57.38% 269.82%
Total Short-Term Liabilities $76.54M $76.19M $51.45M
YoY Change 10.48% 48.08% 2186.53%
LONG-TERM LIABILITIES
Long-Term Debt $27.30M $26.00M $33.96M
YoY Change -9.05% -23.43%
Other Long-Term Liabilities $136.0K $282.0K $5.643M
YoY Change -97.7% -95.0% -77.27%
Total Long-Term Liabilities $136.0K $282.0K $5.643M
YoY Change -97.7% -95.0% -77.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $76.54M $76.19M $51.45M
Total Long-Term Liabilities $136.0K $282.0K $5.643M
Total Liabilities $114.5M $112.6M $131.1M
YoY Change -6.75% -14.16% 384.26%
SHAREHOLDERS EQUITY
Retained Earnings -$335.6M -$327.9M -$271.3M
YoY Change 18.2% 20.86%
Common Stock $7.000K $7.000K $7.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$31.53M -$26.69M $10.04M
YoY Change
Total Liabilities & Shareholders Equity $95.88M $98.78M $152.9M
YoY Change -31.01% -35.39% -44.84%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1

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Depreciation
1019000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2091000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
13989000
CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
74000
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-65000
CY2023Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
366000
CY2022Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-40000
CY2023Q1 gls Change In Fair Value Of Earnout Liability
ChangeInFairValueOfEarnoutLiability
-563000
CY2022Q1 gls Change In Fair Value Of Earnout Liability
ChangeInFairValueOfEarnoutLiability
-33869000
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-130000
CY2022Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-3484000
CY2023Q1 gls Adjustments For Change In Fair Value Of Convertible Promissory Notes
AdjustmentsForChangeInFairValueOfConvertiblePromissoryNotes
-4959000
CY2022Q1 gls Adjustments For Change In Fair Value Of Convertible Promissory Notes
AdjustmentsForChangeInFairValueOfConvertiblePromissoryNotes
156000
CY2023Q1 gls Adjustments For Change In Fair Value Of Call Option
AdjustmentsForChangeInFairValueOfCallOption
-536000
CY2022Q1 gls Adjustments For Change In Fair Value Of Call Option
AdjustmentsForChangeInFairValueOfCallOption
258000
CY2022Q1 gls Change In Fair Value Of Interest Rate Swap Contract
ChangeInFairValueOfInterestRateSwapContract
-389000
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
39000
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1177000
CY2023Q1 gls Increase Decrease In Grants Receivable
IncreaseDecreaseInGrantsReceivable
4975000
CY2022Q1 gls Increase Decrease In Grants Receivable
IncreaseDecreaseInGrantsReceivable
198000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1953000
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2010000
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1036000
CY2022Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2888000
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-4808000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2201000
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3502000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-2759000
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
528000
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
1345000
CY2022Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-134000
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1316000
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-5550000
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-85000
CY2022Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-815000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8696000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-35183000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
224000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1963000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-224000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1963000
CY2022Q1 gls Proceeds From Business Combination Net Of Transaction Costs
ProceedsFromBusinessCombinationNetOfTransactionCosts
70478000
CY2023Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
408000
CY2022Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
418000
CY2022Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
27284000
CY2023Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
5000000
CY2022Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
4000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4592000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
42780000
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19000
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-46000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4309000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5588000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7412000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28397000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3103000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33985000
CY2023Q1 gls Property And Equipment Expenditures Incurred But Not Yet Paid
PropertyAndEquipmentExpendituresIncurredButNotYetPaid
316000
CY2022Q1 gls Property And Equipment Expenditures Incurred But Not Yet Paid
PropertyAndEquipmentExpendituresIncurredButNotYetPaid
1721000
CY2023Q1 gls Deferred Financing Costs Included In Accounts Payable And Accrued Expense
DeferredFinancingCostsIncludedInAccountsPayableAndAccruedExpense
557000
CY2022Q1 gls Recognition Of Earnout Liability
RecognitionOfEarnoutLiability
58871000
CY2022Q1 gls Recognition Of Private Placement Warrant Liability
RecognitionOfPrivatePlacementWarrantLiability
8140000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
118000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
95000
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:6.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:6.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of income and expenses during the reporting period. The Company assesses the above estimates on an ongoing basis; however, actual results could materially differ from those estimates.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2023Q1 gls Fair Value Liabilities Level1 To Level2 Transfer Amount
FairValueLiabilitiesLevel1ToLevel2TransferAmount
0
CY2023Q1 gls Fair Value Liabilities Level2 To Level1 Transfer Amount
FairValueLiabilitiesLevel2ToLevel1TransferAmount
0
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2023Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
9394000
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
9549000
CY2023Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
4361000
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
4695000
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
5303000
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
5955000
CY2023Q1 us-gaap Inventory Gross
InventoryGross
19058000
CY2022Q4 us-gaap Inventory Gross
InventoryGross
20199000
CY2023Q1 us-gaap Inventory Adjustments
InventoryAdjustments
13117000
CY2022Q4 us-gaap Inventory Adjustments
InventoryAdjustments
13334000
CY2023Q1 us-gaap Inventory Net
InventoryNet
5941000
CY2022Q4 us-gaap Inventory Net
InventoryNet
6865000
CY2023Q1 gls Unsold Or Unutilized Inventory Finished Goods
UnsoldOrUnutilizedInventoryFinishedGoods
5000000.0
CY2023Q1 gls Unsold Or Unutilized Inventory Work In Process
UnsoldOrUnutilizedInventoryWorkInProcess
4300000
CY2023Q1 gls Unsold Or Unutilized Inventory Raw Material
UnsoldOrUnutilizedInventoryRawMaterial
3800000
CY2023Q1 us-gaap Inventory Adjustments
InventoryAdjustments
13100000
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
277000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
314000
CY2023Q1 us-gaap Prepaid Insurance
PrepaidInsurance
1844000
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
268000
CY2023Q1 gls Prepaid Contract Research Costs Current
PrepaidContractResearchCostsCurrent
145000
CY2022Q4 gls Prepaid Contract Research Costs Current
PrepaidContractResearchCostsCurrent
189000
CY2023Q1 gls Research And Development Tax Credit Current
ResearchAndDevelopmentTaxCreditCurrent
588000
CY2022Q4 gls Research And Development Tax Credit Current
ResearchAndDevelopmentTaxCreditCurrent
567000
CY2023Q1 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
2102000
CY2022Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
2036000
CY2023Q1 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
207000
CY2022Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
203000
CY2023Q1 gls Investment Tax Credit Receivable
InvestmentTaxCreditReceivable
1488000
CY2022Q4 gls Investment Tax Credit Receivable
InvestmentTaxCreditReceivable
1050000
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6651000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4627000
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
68116000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
62907000
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9762000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8137000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
58354000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
59335000
CY2023Q1 gls Area Of Facility Under Manufacturing And Research And Development
AreaOfFacilityUnderManufacturingAndResearchAndDevelopment
51000
CY2022Q4 gls Long Term Tax Liabilities Noncurrent
LongTermTaxLiabilitiesNoncurrent
224000
CY2023Q1 gls Contingent Call Option For Investment In Related Party Noncurrent
ContingentCallOptionForInvestmentInRelatedPartyNoncurrent
141000
CY2022Q4 gls Contingent Call Option For Investment In Related Party Noncurrent
ContingentCallOptionForInvestmentInRelatedPartyNoncurrent
674000
CY2023Q1 gls Area Of Facility Under Manufacturing And Research And Development Expects To Expand
AreaOfFacilityUnderManufacturingAndResearchAndDevelopmentExpectsToExpand
88600
CY2023Q1 us-gaap Area Of Land
AreaOfLand
12
CY2023Q1 gls Additional Area Of Facility Initiated For Construction
AdditionalAreaOfFacilityInitiatedForConstruction
207000
CY2023Q1 us-gaap Depreciation
Depreciation
2000000.0
CY2022Q1 us-gaap Depreciation
Depreciation
1000000.0
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1656000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1550000
CY2023Q1 gls Accrued Professional Fees Related Party Current
AccruedProfessionalFeesRelatedPartyCurrent
35000
CY2022Q4 gls Accrued Professional Fees Related Party Current
AccruedProfessionalFeesRelatedPartyCurrent
153000
CY2023Q1 gls Accrued Professional Fees And Outside Contractors Including Related Party Current
AccruedProfessionalFeesAndOutsideContractorsIncludingRelatedPartyCurrent
857000
CY2022Q4 gls Accrued Professional Fees And Outside Contractors Including Related Party Current
AccruedProfessionalFeesAndOutsideContractorsIncludingRelatedPartyCurrent
3521000
CY2023Q1 gls Accrued Payments Property Plant And Equipment Additions Current
AccruedPaymentsPropertyPlantAndEquipmentAdditionsCurrent
180000
CY2022Q4 gls Accrued Payments Property Plant And Equipment Additions Current
AccruedPaymentsPropertyPlantAndEquipmentAdditionsCurrent
378000
CY2023Q1 gls Accrued Payments For Inventory And Manufacturing Expenses Current
AccruedPaymentsForInventoryAndManufacturingExpensesCurrent
347000
CY2022Q4 gls Accrued Payments For Inventory And Manufacturing Expenses Current
AccruedPaymentsForInventoryAndManufacturingExpensesCurrent
1020000
CY2023Q1 gls Accrued Unpaid Portion Of One Srl Equity Acquisition
AccruedUnpaidPortionOfOneSrlEquityAcquisition
2754000
CY2022Q4 gls Accrued Unpaid Portion Of One Srl Equity Acquisition
AccruedUnpaidPortionOfOneSrlEquityAcquisition
2656000
CY2023Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
578000
CY2022Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
543000
CY2023Q1 gls Deferred Legal Fees
DeferredLegalFees
738000
CY2022Q4 gls Deferred Legal Fees
DeferredLegalFees
738000
CY2023Q1 gls Accrued Interest
AccruedInterest
370000
CY2022Q4 gls Accrued Interest
AccruedInterest
62000
CY2023Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
7480000
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
10468000
CY2023Q1 gls Long Term Tax Liabilities Noncurrent
LongTermTaxLiabilitiesNoncurrent
141000
CY2023Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
282000
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
898000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
7825000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
5534000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4027000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
4047000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
4029000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
8320000
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
33782000
CY2023Q1 gls Minimum Share Price Requirement Trading Days Period
MinimumSharePriceRequirementTradingDaysPeriod
P30D
CY2022Q4 gls Contingent Earnout Liability
ContingentEarnoutLiability
563000
CY2023Q1 gls Change In The Fair Value Of Contingent Earnout Liability
ChangeInTheFairValueOfContingentEarnoutLiability
563000
CY2023Q1 gls Contingent Earnout Liability
ContingentEarnoutLiability
0
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000000
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 gls Common Stock Issued Upon Option Exercise And Rsus Vesting
CommonStockIssuedUponOptionExerciseAndRsusVesting
16881549
CY2022Q4 gls Common Stock Issued Upon Option Exercise And Rsus Vesting
CommonStockIssuedUponOptionExerciseAndRsusVesting
16881549
CY2023Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
48421412
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
24733365
CY2023Q1 gls Earnout Shares
EarnoutShares
23482845
CY2022Q4 gls Earnout Shares
EarnoutShares
23482845
CY2023Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
88785806
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
65097759
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12798479
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.97
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y9M18D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
25000
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
94673
CY2023Q1 gls Share Based Compensation Arrangements By Share Based Payment Award Options Nonvested Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsNonvestedOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.87
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
428647
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
4.06
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12275159
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.97
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y5M19D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
10021559
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.91
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y9M7D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
12275159
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
3.96
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P5Y5M19D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1900000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0.0
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0.0
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-5146000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-5703000
CY2022Q1 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
37934000
CY2022Q1 gls Non Controlling Interest Put Option Accretion To Redemption Value Adjustment
NonControllingInterestPutOptionAccretionToRedemptionValueAdjustment
88000
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
100000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5246000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-43725000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73329309
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73329309
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62743154
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62743154
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.70
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.70
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
65302961
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
41214914
CY2023Q1 gls Potential Dilutive Common Share Equivalents Related To Earnout Liablity
PotentialDilutiveCommonShareEquivalentsRelatedToEarnoutLiablity
23482845
CY2019Q2 gls Operating Lease Commencement Year And Month
OperatingLeaseCommencementYearAndMonth
2019-06
CY2019Q2 gls Operating Lease Expiration Year And Month
OperatingLeaseExpirationYearAndMonth
2025-08
CY2023Q1 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P2Y6M
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.052
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
587000
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
548000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
835000
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1374000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1422000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1922000
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
184000
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
131000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
504000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
583000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
391000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
38000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
18000
CY2023Q1 gls Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
0
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1534000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
112000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1422000

Files In Submission

Name View Source Status
gls-20230331_cal.xml Edgar Link unprocessable
0000950170-23-022247-index-headers.html Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
gls-20230331.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
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