2022 Q1 Form 10-Q Financial Statement

#000186444822000025 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1 2021

Balance Sheet

Concept 2022 Q1 2021 Q1 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $39.73M $980.0K $67.32M
YoY Change 3954.18% 366.83%
Cash & Equivalents $39.70M $20.47M $67.32M
Short-Term Investments
Other Short-Term Assets $594.0K $580.0K $63.13M
YoY Change 2.41% 942.94%
Inventory
Prepaid Expenses $11.62M
Receivables $2.068M $636.0K $1.416M
Other Receivables $2.295M $0.00
Total Short-Term Assets $86.50M $26.19M $131.9M
YoY Change 230.26% 523.13%
LONG-TERM ASSETS
Property, Plant & Equipment $645.0K $387.0K $651.0K
YoY Change 66.67% 103.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $230.0M
YoY Change
Other Assets $471.0K
YoY Change
Total Long-Term Assets $13.24M $10.79M $10.14M
YoY Change 22.61% -9.99%
TOTAL ASSETS
Total Short-Term Assets $86.50M $26.19M $131.9M
Total Long-Term Assets $13.24M $10.79M $10.14M
Total Assets $99.73M $36.99M $142.0M
YoY Change 169.66% 337.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.67M $6.355M $15.43M
YoY Change 193.72% 215.6%
Accrued Expenses $17.26M $7.894M $21.09M
YoY Change 118.62% 113.21%
Deferred Revenue $9.474M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $36.95M $33.86M $36.80M
YoY Change 9.1% 11.43%
LONG-TERM LIABILITIES
Long-Term Debt $34.95M $33.71M
YoY Change 449.84%
Other Long-Term Liabilities $13.51M $18.98M $23.80M
YoY Change -28.83% -40.29%
Total Long-Term Liabilities $48.46M $18.98M $57.51M
YoY Change 155.31% 25.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $36.95M $33.86M $36.80M
Total Long-Term Liabilities $48.46M $18.98M $57.51M
Total Liabilities $85.40M $166.9M $94.31M
YoY Change -48.82% 19.35%
SHAREHOLDERS EQUITY
Retained Earnings -$410.3M -$254.5M
YoY Change 61.2%
Common Stock $95.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.33M -$129.9M $47.69M
YoY Change
Total Liabilities & Shareholders Equity $99.73M $36.99M $142.0M
YoY Change 169.66% 337.91%

Cashflow Statement

Concept 2022 Q1 2021 Q1 2021

Facts In Submission

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84000 USD
CY2022Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 USD
CY2021Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
17000 USD
CY2022Q1 wejo Payment Of Deferred Financing Costs
PaymentOfDeferredFinancingCosts
0 USD
CY2021Q1 wejo Payment Of Deferred Financing Costs
PaymentOfDeferredFinancingCosts
100000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2085000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14950000 USD
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1384000 USD
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
145000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-27591000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6046000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67322000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14421000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39731000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20467000 USD
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
24000 USD
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 USD
CY2022Q1 wejo Transaction Costs Included In Accounts Payable And Accrued Expenses
TransactionCostsIncludedInAccountsPayableAndAccruedExpenses
6391000 USD
CY2021Q1 wejo Transaction Costs Included In Accounts Payable And Accrued Expenses
TransactionCostsIncludedInAccountsPayableAndAccruedExpenses
0 USD
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3481000 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2022Q1 us-gaap Stock Issued1
StockIssued1
0 USD
CY2021Q1 us-gaap Stock Issued1
StockIssued1
2070000 USD
CY2022Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-410300000 USD
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-370000000 USD
CY2022Q1 wejo Exchangeable Right Liability Noncurrent
ExchangeableRightLiabilityNoncurrent
4174000 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
39700000 USD
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Use of Estimates</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Management of the Company is required to make certain estimates, judgments and assumptions during the preparation of its financial statements in accordance with U.S. GAAP. These estimates, judgments and assumptions impact the reported amounts of assets, liabilities, revenue and expenses and the related disclosure of assets and liabilities. Actual results could differ from these estimates.</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On an ongoing basis, the Company evaluates its estimates, judgments and assumptions, including those related to: the fair values of its Forward Purchase Agreement (see Note 6) and Exchangeable Right Liability (see Note </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">15</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">); the carrying value of accounts receivable, including the determination of the allowance for credit losses; the carrying value of right-of-use assets ("ROU assets"); the useful lives and recoverability of property and equipment, capitalized software, and definite-lived intangible assets; contingencies; unrecognized tax benefits; the valuation allowance for deferred income tax assets; and the fair value of its stock-</span></div>based awards, among others. The Company bases its estimates, judgments and assumptions on historical experience, its forecasts and budgets and other factors that the Company considers relevant.
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3300000 USD
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
600000 USD
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2600000 USD
CY2022Q1 wejo Forward Purchase Agreement
ForwardPurchaseAgreement
28907000 USD
CY2022Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
28907000 USD
CY2022Q1 us-gaap Warrants Not Settleable In Cash Fair Value Disclosure
WarrantsNotSettleableInCashFairValueDisclosure
6717000 USD
CY2022Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
10891000 USD
CY2021Q4 wejo Forward Purchase Agreement
ForwardPurchaseAgreement
45611000 USD
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
45611000 USD
CY2021Q4 us-gaap Warrants Not Settleable In Cash Fair Value Disclosure
WarrantsNotSettleableInCashFairValueDisclosure
12650000 USD
CY2021Q4 wejo Exchangeable Right Liability Noncurrent
ExchangeableRightLiabilityNoncurrent
11154000 USD
CY2021Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
23804000 USD
CY2022Q1 wejo Exchangeable Right Liability Term
ExchangeableRightLiabilityTerm
P4Y7M6D
CY2021Q4 wejo Exchangeable Right Liability Term
ExchangeableRightLiabilityTerm
P4Y10M24D
CY2022Q1 wejo Forward Purchase Agreement Term
ForwardPurchaseAgreementTerm
P1Y7M6D
CY2021Q4 wejo Forward Purchase Agreement Term
ForwardPurchaseAgreementTerm
P1Y10M24D
CY2022Q1 wejo Reduction Of Revenue Arising From Revenue Sharing
ReductionOfRevenueArisingFromRevenueSharing
1000000 USD
CY2021Q1 wejo Reduction Of Revenue Arising From Revenue Sharing
ReductionOfRevenueArisingFromRevenueSharing
600000 USD
CY2022Q1 wejo Forward Purchase Agreement Current
ForwardPurchaseAgreementCurrent
28900000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
651000 USD
CY2021Q1 us-gaap Depreciation
Depreciation
100000 USD
CY2021 wejo Gain Loss On Settlement Of Forward Purchase Agreement
GainLossOnSettlementOfForwardPurchaseAgreement
400000 USD
CY2021Q4 wejo Forward Purchase Agreement Current
ForwardPurchaseAgreementCurrent
45600000 USD
CY2021Q4 wejo Gain Loss On Issuance Of Forward Purchase Agreement
GainLossOnIssuanceOfForwardPurchaseAgreement
-11700000 USD
CY2022Q1 wejo Unrealized Gain Loss On Forward Purchase Agreement
UnrealizedGainLossOnForwardPurchaseAgreement
-16700000 USD
CY2022Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
11622000 USD
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
12338000 USD
CY2022Q1 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
2031000 USD
CY2021Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
2963000 USD
CY2022Q1 us-gaap Prepaid Insurance
PrepaidInsurance
1282000 USD
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1346000 USD
CY2022Q1 us-gaap Other Assets Current
OtherAssetsCurrent
594000 USD
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
600000 USD
CY2022Q1 wejo Research And Development Expenditure Credit Receivable Current
ResearchAndDevelopmentExpenditureCreditReceivableCurrent
264000 USD
CY2021Q4 wejo Research And Development Expenditure Credit Receivable Current
ResearchAndDevelopmentExpenditureCreditReceivableCurrent
271000 USD
CY2022Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
15793000 USD
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
17518000 USD
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1431000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1391000 USD
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
786000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
740000 USD
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
645000 USD
CY2022Q1 us-gaap Depreciation
Depreciation
100000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
25456000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
16597000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8859000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
25530000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
16041000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
9489000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2553000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
2710000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2150000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1446000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
0 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8859000 USD
CY2022Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9816000 USD
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
13761000 USD
CY2022Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3484000 USD
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
4903000 USD
CY2022Q1 wejo Accrued Revenue Share Costs
AccruedRevenueShareCosts
2093000 USD
CY2021Q4 wejo Accrued Revenue Share Costs
AccruedRevenueShareCosts
598000 USD
CY2022Q1 us-gaap Deferred Income
DeferredIncome
864000 USD
CY2021Q4 us-gaap Deferred Income
DeferredIncome
225000 USD
CY2022Q1 wejo Accrued Development And Technology Cost Current
AccruedDevelopmentAndTechnologyCostCurrent
792000 USD
CY2021Q4 wejo Accrued Development And Technology Cost Current
AccruedDevelopmentAndTechnologyCostCurrent
635000 USD
CY2022Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
107000 USD
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
633000 USD
CY2022Q1 wejo Accrued Marketing And Commission Cost Current
AccruedMarketingAndCommissionCostCurrent
102000 USD
CY2021Q4 wejo Accrued Marketing And Commission Cost Current
AccruedMarketingAndCommissionCostCurrent
334000 USD
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
17258000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
21089000 USD
CY2021Q1 wejo Gain Loss From Change In Fair Value Of Advanced Subscription Agreements
GainLossFromChangeInFairValueOfAdvancedSubscriptionAgreements
-1300000 USD
CY2020Q3 wejo Debt Instrument Redemption Premium Percentage Of Outstanding Principal Amount
DebtInstrumentRedemptionPremiumPercentageOfOutstandingPrincipalAmount
1
CY2021Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-56900000 USD
CY2021Q1 us-gaap Accretion Expense
AccretionExpense
800000 USD
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
996000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 USD
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-40342000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-102357000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-40342000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-40342000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-102357000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-102357000 USD
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
200000 USD
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
94300245 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
94300245 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36463696 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36463696 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.43
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.43
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.81
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.81
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
29113034 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18424408 shares
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
200000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
710000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
894000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
921000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1000000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
515000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4040000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
778000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3262000 USD

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