Otonomo Technologies Ltd.

2022 Q4 Form 20-F Financial Statement

#000117891323001248 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021 Q4

Balance Sheet

Concept 2022 Q4 2022 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $140.3M $140.3M $207.8M
YoY Change -32.5% -32.5% 20612.33%
Cash & Equivalents $22.45M $22.45M $207.8M
Short-Term Investments $117.8M $117.8M $0.00
Other Short-Term Assets $346.0K $346.0K $237.0K
YoY Change 45.99% -85.33% 28.61%
Inventory
Prepaid Expenses
Receivables $1.271M $1.271M $1.077M
Other Receivables $3.043M $3.043M $2.683M
Total Short-Term Assets $145.0M $145.0M $211.8M
YoY Change -31.57% -31.57% 17735.32%
LONG-TERM ASSETS
Property, Plant & Equipment $1.043M $3.083M $725.0K
YoY Change 43.86% 325.24%
Goodwill $0.00 $37.00M
YoY Change -100.0%
Intangibles $0.00 $9.621M
YoY Change -100.0%
Long-Term Investments
YoY Change
Other Assets $606.0K $606.0K $254.0K
YoY Change 138.58% 138.58%
Total Long-Term Assets $3.689M $3.689M $47.60M
YoY Change -92.25% -92.25% -72.41%
TOTAL ASSETS
Total Short-Term Assets $145.0M $145.0M $211.8M
Total Long-Term Assets $3.689M $3.689M $47.60M
Total Assets $148.6M $148.6M $259.4M
YoY Change -42.7% -42.7% 49.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.020M $1.525M $8.405M
YoY Change -87.86% -81.86% 3508.54%
Accrued Expenses $3.070M $10.16M $1.819M
YoY Change 68.77% 49.62%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.09M $13.09M $8.752M
YoY Change 49.54% 49.54% 3657.51%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.000K $2.130M $1.924M
YoY Change -99.79% 10.71% -92.26%
Total Long-Term Liabilities $2.130M $2.130M $1.924M
YoY Change 10.71% 10.71% -92.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.09M $13.09M $8.752M
Total Long-Term Liabilities $2.130M $2.130M $1.924M
Total Liabilities $15.22M $15.22M $10.68M
YoY Change 42.54% 42.54% -57.45%
SHAREHOLDERS EQUITY
Retained Earnings -$232.1M -$101.1M
YoY Change 129.69%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $133.4M $133.4M $248.8M
YoY Change
Total Liabilities & Shareholders Equity $148.6M $148.6M $259.4M
YoY Change -42.7% -42.7% 49.37%

Cashflow Statement

Concept 2022 Q4 2022 2021 Q4

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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Security12bTitle
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CY2022 dei Trading Symbol
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OTMO
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OTONOMO TECHNOLOGIES LTD.
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IncreaseDecreaseInOtherReceivablesAndPrepaidExpenses
2059000
CY2020 otmo Increase Decrease In Other Receivables And Prepaid Expenses
IncreaseDecreaseInOtherReceivablesAndPrepaidExpenses
-574000
CY2022 otmo Increase Decrease In Other Payables And Accrued Expenses
IncreaseDecreaseInOtherPayablesAndAccruedExpenses
140000
CY2021 otmo Increase Decrease In Other Payables And Accrued Expenses
IncreaseDecreaseInOtherPayablesAndAccruedExpenses
1886000
CY2020 otmo Increase Decrease In Other Payables And Accrued Expenses
IncreaseDecreaseInOtherPayablesAndAccruedExpenses
99000
CY2022 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
136000
CY2021 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-252000
CY2020 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
63000
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-167000
CY2021 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-242000
CY2020 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
260000
CY2022 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
403000
CY2021 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-0
CY2020 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
0
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-56373000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-33361000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-14135000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
241000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
188000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
420000
CY2022 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
61549000
CY2021 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-12800000
CY2020 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
1393000
CY2022 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
55000000
CY2021 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-0
CY2020 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
0
CY2022 otmo Payments For Proceeds From Other Long Term Assets
PaymentsForProceedsFromOtherLongTermAssets
0
CY2021 otmo Payments For Proceeds From Other Long Term Assets
PaymentsForProceedsFromOtherLongTermAssets
-33000
CY2020 otmo Payments For Proceeds From Other Long Term Assets
PaymentsForProceedsFromOtherLongTermAssets
19000
CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
11018000
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
9965000
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-127808000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
2680000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1832000
CY2022 otmo Proceeds From Issuance Of Redeemable Convertible Preferred Shares And Warrants Net
ProceedsFromIssuanceOfRedeemableConvertiblePreferredSharesAndWarrantsNet
0
CY2021 otmo Proceeds From Issuance Of Redeemable Convertible Preferred Shares And Warrants Net
ProceedsFromIssuanceOfRedeemableConvertiblePreferredSharesAndWarrantsNet
0
CY2020 otmo Proceeds From Issuance Of Redeemable Convertible Preferred Shares And Warrants Net
ProceedsFromIssuanceOfRedeemableConvertiblePreferredSharesAndWarrantsNet
19967000
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
223732000
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
140000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
44000
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
133000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
140000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
223776000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
20100000
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1244000
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0
CY2020 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-185285000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
193095000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4133000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
208079000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14984000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10851000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22794000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
208079000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14984000
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
243000
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
104000
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
69000
CY2022 otmo Contingent Consideration
ContingentConsideration
9865000
CY2021 otmo Contingent Consideration
ContingentConsideration
0
CY2020 otmo Contingent Consideration
ContingentConsideration
0
CY2022 otmo Shares Issued Related To Business Acquisitions
SharesIssuedRelatedToBusinessAcquisitions
10691000
CY2021 otmo Shares Issued Related To Business Acquisitions
SharesIssuedRelatedToBusinessAcquisitions
33816000
CY2020 otmo Shares Issued Related To Business Acquisitions
SharesIssuedRelatedToBusinessAcquisitions
0
CY2022 otmo Conversion Of Warrants To Redeemable Convertible Preferred Shares
ConversionOfWarrantsToRedeemableConvertiblePreferredShares
0
CY2021 otmo Conversion Of Warrants To Redeemable Convertible Preferred Shares
ConversionOfWarrantsToRedeemableConvertiblePreferredShares
10896000
CY2020 otmo Conversion Of Warrants To Redeemable Convertible Preferred Shares
ConversionOfWarrantsToRedeemableConvertiblePreferredShares
0
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<div> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman',Times,serif;font-size:10pt;width:100%;text-align:left;color:rgb(0, 0, 0)"> <tr> <td style="width:36pt"> </td> <td style="width:18pt;vertical-align:top;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">C.</span></span></td> <td style="width:auto;vertical-align:top"> <div style="text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold;font-style:italic">Use of Estimates</span><br/> <br/>The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and such differences may have a material impact on the Company’s financial statements. As applicable to these consolidated financial statements, the most significant estimates relate to purchase price allocation including contingent consideration, recoverability of goodwill and intangible assets and fair value of warrant liability.</span></span></div> </td> </tr> </table> <div style="line-height:1.25"> </div> <div style="margin-left:54pt;line-height:1.25;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>A number of estimates have been and will continue to be affected by global events and other longer-term macroeconomic conditions, including rising inflation and increasing interest rates. As a result, the accounting estimates and assumptions may change over time. These consolidated financial statements reflect the financial statement effects based upon management’s estimates and assumptions utilizing the most currently available information.</span></span></span></div> </div>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <div style="line-height:1.25"> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman',Times,serif;font-size:10pt;width:100%;text-align:left;color:rgb(0, 0, 0)"> <tr> <td style="width:36pt"> </td> <td style="width:18pt;vertical-align:top;font-style:normal;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">E.</span></span></td> <td style="width:auto;vertical-align:top"> <div style="text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold;font-style:italic">Concentration of Credit Risk</span><br/> <br/>Financial instruments which potentially expose the Company to concentrations of credit risk consist primarily of cash equivalents, restricted cash, short-term deposits, investment in marketable securities and account receivables. Most of the Company’s cash and cash equivalents and bank deposits are invested with banks in the U.S., Israel and Europe. Management believes that the credit risk with respect to the financial institutions that hold the Company’s cash, cash equivalents and bank deposits is low.</span></span></div> <div style="text-align:justify"> </div> </td> </tr> </table> </div> </div>
CY2022Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
193000
CY2021Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
215000
CY2022 us-gaap Revenue Recognition Revenue Reductions
RevenueRecognitionRevenueReductions
<div> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman',Times,serif;font-size:10pt;width:100%;text-align:left;color:rgb(0, 0, 0)"> <tr> <td style="width:36pt"> </td> <td style="width:18pt;vertical-align:top;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Q.</span></span></td> <td style="width:auto;vertical-align:top"> <div style="text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold;font-style:italic">Revenue Recognition</span><br/> <br/>Revenues are recognized when control of services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services.</span></span></div> </td> </tr> </table> <div style="margin-left:54pt;line-height:1.25;text-align:justify"><br/><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>The revenue comprised mainly of subscription fees from customers accessing the Company’s enterprise cloud computing services (“SaaS subscriptions”).<br/> <br/>In addition, the Company provides customization, research, and analytical services to its customers, such professional services revenues are recognized as services are delivered.<br/> </span></span></span></div> <div style="margin-left:54pt;line-height:1.25;font-family:'Times New Roman',Times,serif;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company determines revenue recognition through the following five-step framework:</span></span></div> <div style="line-height:1.25"> </div> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman',Times,serif;font-size:10pt;width:100%;text-align:left;color:rgb(0, 0, 0)"> <tr> <td style="width:54pt"> </td> <td style="width:18pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•</span></span></td> <td style="width:auto;vertical-align:top"> <div><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Identification of the contract, or contracts, with a customer;</span></span></div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman',Times,serif;font-size:10pt;width:100%;text-align:left;color:rgb(0, 0, 0)"> <tr> <td style="width:54pt"> </td> <td style="width:18pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•</span></span></td> <td style="width:auto;vertical-align:top"> <div><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Identification of the performance obligations in the contract;</span></span></div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman',Times,serif;font-size:10pt;width:100%;text-align:left;color:rgb(0, 0, 0)"> <tr> <td style="width:54pt"> </td> <td style="width:18pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•</span></span></td> <td style="width:auto;vertical-align:top"> <div><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Determination of the transaction price;</span></span></div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman',Times,serif;font-size:10pt;width:100%;text-align:left;color:rgb(0, 0, 0)"> <tr> <td style="width:54pt"> </td> <td style="width:18pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•</span></span></td> <td style="width:auto;vertical-align:top"> <div><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Allocation of the transaction price to the performance obligations in the contract; and</span></span></div> </td> </tr> </table> <div style="text-align:justify;line-height:1.25"> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman',Times,serif;font-size:10pt;width:100%;text-align:left;color:rgb(0, 0, 0)"> <tr> <td style="width:54pt"> </td> <td style="width:18pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•</span></span></td> <td style="width:auto;vertical-align:top;text-align:justify"> <div><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Recognition of revenue when, or as, the Company satisfies a performance obligation.</span></span></div> </td> </tr> </table> </div> <div style="margin-left:54pt;line-height:1.25;font-family:'Times New Roman',Times,serif;text-align:justify"> </div> <div style="margin-left:54pt;line-height:1.25;font-family:'Times New Roman',Times,serif;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the services either on their own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the services is separately identifiable from other promises in the contract.</span></span></div> <div style="margin-left:54pt;line-height:1.25;font-family:'Times New Roman',Times,serif;text-align:justify"> </div> <div/> <div style="line-height:1.25"> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman',Times,serif;font-size:10pt;width:100%;text-align:left;color:rgb(0, 0, 0)"> <tr> <td style="width:36pt"> </td> <td style="width:18pt;vertical-align:top;font-weight:bold"> </td> <td style="width:auto;vertical-align:top"> <div style="text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. The Company evaluates the terms and conditions included within the customer’s contracts to ensure appropriate revenue recognition, including whether products and services are considered distinct performance obligations that should be accounted for separately versus together. For contracts with multiple performance obligations, the transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. The Company determine standalone selling price by considering the historical selling price of these performance obligations in similar transactions as the well as other factors, including, but not limited to, competitive pricing of similar products, other software vendor pricing, industry publications and current pricing practices.</span></span></div> <div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company’s SaaS subscriptions revenues consist primarily of fees to provide the Company’s customers access to its cloud-based platform, which includes routine customer support. Subscription service contracts do not provide customers with the right to take possession of the software, are cancelable, and do not contain general rights of return. The Company recognizes subscription revenues ratably over the contract term beginning on the commencement date of each contract, which is the date the Company makes the services available to the customers.</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Subscription contracts typically have a term of up to three years and are based on fixed-fee and/or a pay per use basis. Certain pay per use contract includes minimum monthly or annual fees. For fixed-fee basis contracts, invoicing occurring in quarterly or monthly installments at the end of each period. Fixed or substantive minimum fees are recognized ratably over the term of the arrangement beginning on the date that the service is made available to the customer. For pay per use basis contracts, the Company applies the ‘as-invoiced’ practical expedient and recognizes revenue in the amount which is equivalent to the service rendered each month. Invoicing is normally done monthly at the end of each month.</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Contract assets consist of unbilled accounts receivable, which occur when a right to consideration for the Company’s performance under the customer contract occurs before invoicing to the customer. The amount of unbilled accounts receivable included within accounts receivable, net, on the consolidated balance sheets.</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Contract liabilities consist of deferred revenue. Revenue is deferred when the Company invoices in advance of performance under a contract. To the extent the Company bill customers in advance of the billing period commencement date, the trade receivable and corresponding deferred revenue amounts are netted to zero on the Company’s consolidated balance sheets, unless such amounts have been paid as of the balance sheet date. The current portion of the deferred revenue balance is recognized as revenue during the 12-month period after the balance sheet date.</span></span></div> <div style="text-align:justify;line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"> <div style="text-align:left;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Contract Balances</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Of the $216 thousand of deferred revenue recorded as of December 31, 2022, the Company expects to recognize 100% as revenue during the year ended December 31, 2023.</span></span></div> </div> </div> </td> </tr> <tr> <td style="width:36pt"> </td> <td style="width:18pt;vertical-align:top;font-weight:bold"> </td> <td style="width:auto;vertical-align:top"> </td> </tr> </table> </div> <div/> <div style="line-height:1.25"> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman',Times,serif;font-size:10pt;width:100%;text-align:left;color:rgb(0, 0, 0)"> <tr> <td style="width:36pt"> </td> <td style="width:18pt;vertical-align:top;font-weight:bold"> </td> <td style="width:auto;vertical-align:top"> <div><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost to Obtain a Contract</span></span></strong></div> <div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company capitalizes certain sales commissions as costs of obtaining a contract when they are incremental and if they are expected to be recovered. These costs are subsequently amortized consistently with the pattern of revenue recognition from contracts for which the commissions relate, over an estimated period of benefit. Deferred commission costs capitalized are periodically reviewed for impairment. There were no impairment losses recorded during the periods presented. For costs that the Company would have capitalized and amortized over one year or less, the Company has elected to apply the practical expedient and expense these costs as incurred. Amortization expense of these costs are included in selling and marketing expenses.</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As of December 31, 2022, the amount of deferred commissions was $273 and is included in other receivables and prepaid expenses and other long-term assets on the consolidated balance sheets. As of December 31, 2021, incremental costs of obtaining a contract that are eligible to capitalization, were immaterial.</span></span></div> </div> </td> </tr> </table> </div> </div>
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
216000
CY2022 otmo Percentage Of Revenue Recognized
PercentageOfRevenueRecognized
1 pure
CY2022Q4 otmo Amount Of Deferred Commissions
AmountOfDeferredCommissions
273000
CY2022 us-gaap Revenues
Revenues
6992000
CY2022 otmo Segment Loss
SegmentLoss
-57789000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2749000
CY2022 otmo Businesscombinationcontingentconsiderationcontingentliabilityincome
Businesscombinationcontingentconsiderationcontingentliabilityincome
8954000
CY2022 us-gaap Goodwill Impairment Loss Net Of Tax
GoodwillImpairmentLossNetOfTax
49686000
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
22355000
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
9756000
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-133381000
CY2022 otmo Financial Income Expenses Net
FinancialIncomeExpensesNet
2455000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-130926000
CY2022 us-gaap Revenues
Revenues
6992000
CY2021 us-gaap Revenues
Revenues
1723000
CY2020 us-gaap Revenues
Revenues
394000
CY2022Q4 otmo Operating Lease Right Of Use Assets Property And Equipment Net
OperatingLeaseRightOfUseAssetsPropertyAndEquipmentNet
3083000
CY2021Q4 otmo Operating Lease Right Of Use Assets Property And Equipment Net
OperatingLeaseRightOfUseAssetsPropertyAndEquipmentNet
725000
CY2022 otmo Number Of Customer
NumberOfCustomer
2 customers
CY2021 otmo Number Of Customer
NumberOfCustomer
3 customers
CY2020 otmo Number Of Customer
NumberOfCustomer
2 customers
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
55348000
CY2022 us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
59000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
55289000
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
298000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
44596000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
44556000
CY2022Q4 otmo Available For Sale Securities Debt Maturities After One Through Two Years Amortized Cost
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WeightedAverageNumberOfSharesOutstandingBasic
138362785
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69222905
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69222905
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30674263
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30674263
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.95
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.95
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.45
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.45
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.65
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.65

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