2022 Q2 Form 10-Q Financial Statement

#000152927422000142 Filed on August 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $50.53M $44.79M $42.44M
YoY Change 37.68% 34.66% 27.32%
Cost Of Revenue $23.26M $19.98M $19.29M
YoY Change 43.74% 28.93% 37.09%
Gross Profit $27.27M $24.81M $23.15M
YoY Change 32.9% 39.66% 20.24%
Gross Profit Margin 53.97% 55.39% 54.55%
Selling, General & Admin $28.94M $23.66M $23.27M
YoY Change 65.24% 49.83% 18.52%
% of Gross Profit 106.09% 95.36% 100.51%
Research & Development $16.60M $14.16M $12.90M
YoY Change 37.07% 29.72% 19.03%
% of Gross Profit 60.85% 57.06% 55.74%
Depreciation & Amortization $600.0K $1.018M $1.059M
YoY Change 0.0% 29.52% -27.37%
% of Gross Profit 2.2% 4.1% 4.58%
Operating Expenses $46.66M $37.82M $36.17M
YoY Change 53.81% 41.61% 18.66%
Operating Profit -$19.38M -$13.01M -$13.02M
YoY Change 97.53% 45.5% 15.96%
Interest Expense $787.0K $288.0K -$155.0K
YoY Change 164.09% -7.1% -87.7%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$20.08M -$13.32M -$13.18M
YoY Change 76.5% 22.43% 5.5%
Income Tax $200.0K $100.0K $172.0K
% Of Pretax Income
Net Earnings -$20.23M -$13.41M -$13.35M
YoY Change 77.87% 23.23% 4.62%
Net Earnings / Revenue -40.04% -29.93% -31.46%
Basic Earnings Per Share -$0.22 -$0.15
Diluted Earnings Per Share -$0.22 -$0.15 -$149.9K
COMMON SHARES
Basic Shares Outstanding 90.71M shares 90.21M shares
Diluted Shares Outstanding 90.71M shares 90.21M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $213.4M $299.3M $308.6M
YoY Change -36.97% 84.63%
Cash & Equivalents $89.12M $187.3M $308.6M
Short-Term Investments $124.2M $112.0M $0.00
Other Short-Term Assets $20.37M $17.25M $15.76M
YoY Change 44.18% 16.55%
Inventory
Prepaid Expenses
Receivables $27.37M $23.35M $20.82M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $261.1M $339.9M $345.2M
YoY Change -29.09% 77.49% 78.62%
LONG-TERM ASSETS
Property, Plant & Equipment $13.50M $12.75M $11.83M
YoY Change 29.61% 23.73% 13.07%
Goodwill $147.4M $48.10M $48.10M
YoY Change 48.44% 191.52% 196.91%
Intangibles $44.92M $10.76M $11.16M
YoY Change 472.35% 33.57% 35.06%
Long-Term Investments
YoY Change
Other Assets $5.280M $1.214M $2.275M
YoY Change -19.03% -81.39% -62.87%
Total Long-Term Assets $230.0M $91.02M $91.35M
YoY Change 306.77% 61.03% 63.33%
TOTAL ASSETS
Total Short-Term Assets $261.1M $339.9M $345.2M
Total Long-Term Assets $230.0M $91.02M $91.35M
Total Assets $491.1M $430.9M $436.5M
YoY Change 15.63% 73.74% 75.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.787M $2.963M $3.649M
YoY Change 47.07% -37.29% 913.61%
Accrued Expenses $22.62M $21.19M $19.08M
YoY Change 20.69% 31.38% 45.68%
Deferred Revenue $9.236M $8.009M $8.198M
YoY Change 39.56% 19.27% 34.04%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.063M $1.875M $1.563M
YoY Change 13.33% 200.0% 399.36%
Total Short-Term Liabilities $37.44M $34.75M $33.20M
YoY Change 26.7% 20.45% 62.07%
LONG-TERM LIABILITIES
Long-Term Debt $83.39M $22.44M $23.05M
YoY Change 247.94% -7.54% -6.16%
Other Long-Term Liabilities $16.45M $12.80M $16.50M
YoY Change 1080.9% 818.88% 1084.49%
Total Long-Term Liabilities $99.84M $35.24M $39.55M
YoY Change 293.69% 37.33% 52.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.44M $34.75M $33.20M
Total Long-Term Liabilities $99.84M $35.24M $39.55M
Total Liabilities $155.6M $88.79M $91.90M
YoY Change 111.7% 13.24% 32.37%
SHAREHOLDERS EQUITY
Retained Earnings -$347.5M -$327.3M -$313.9M
YoY Change 20.12% 17.76% 19.1%
Common Stock $91.00K $90.00K $658.5M
YoY Change 4.6% 1185.71% 13169180.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $335.5M $342.1M $344.6M
YoY Change
Total Liabilities & Shareholders Equity $491.1M $430.9M $436.5M
YoY Change 15.63% 73.74% 75.19%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$20.23M -$13.41M -$13.35M
YoY Change 77.87% 23.23% 4.62%
Depreciation, Depletion And Amortization $600.0K $1.018M $1.059M
YoY Change 0.0% 29.52% -27.37%
Cash From Operating Activities -$11.08M -$8.291M -$12.16M
YoY Change 7.16% 324.74% -33.02%
INVESTING ACTIVITIES
Capital Expenditures -$1.414M $282.0K -$1.552M
YoY Change 102.0% 56.67% 108.6%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$144.5M -$112.1M $0.00
YoY Change -3613625.0% 33863.33% -100.0%
Cash From Investing Activities -$146.0M -$113.6M -$1.552M
YoY Change 20870.55% 15049.47% -93.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $313.0K
YoY Change
Cash From Financing Activities 61.96M $623.0K 5.387M
YoY Change -66.94% -130.95% -97.31%
NET CHANGE
Cash From Operating Activities -11.08M -$8.291M -12.16M
Cash From Investing Activities -146.0M -$113.6M -1.552M
Cash From Financing Activities 61.96M $623.0K 5.387M
Net Change In Cash -95.07M -$121.3M -8.322M
YoY Change -153.9% 2472.41% -105.33%
FREE CASH FLOW
Cash From Operating Activities -$11.08M -$8.291M -$12.16M
Capital Expenditures -$1.414M $282.0K -$1.552M
Free Cash Flow -$9.664M -$8.573M -$10.61M
YoY Change 0.27% 302.11% -39.07%

Facts In Submission

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dei Document Fiscal Year Focus
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dei Document Fiscal Period Focus
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ALKAMI TECHNOLOGY, INC.
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CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
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us-gaap Stock Repurchased During Period Value
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us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Depreciation Depletion And Amortization
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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 Deferred Income Tax Expense Benefit
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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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 Marketable Securities
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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 Payments To Develop Software
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us-gaap Payments To Develop Software
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
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us-gaap Payments Of Stock Issuance Costs
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Proceeds From Issuance Initial Public Offering
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us-gaap Proceeds From Issuance Initial Public Offering
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us-gaap Net Cash Provided By Used In Financing Activities
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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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alk Deferred Offering Costs Incurred But Not Yet Paid
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us-gaap Prior Period Reclassification Adjustment Description
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:112%">Reclassification. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:112%">Acquisition-related expenses, net and amortization of acquired intangibles previously included in general and administrative expense and sales and marketing expense, respectively, were reclassified into separate individual captions within the condensed consolidated statement of operations to conform with the current year presentation.</span>
us-gaap Use Of Estimates
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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><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:9pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities 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.</span></div><div style="text-align:justify"><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:9pt;font-weight:400;line-height:120%">Significant estimates and assumptions include determining the timing and amount of revenue recognition, recoverability and amortization period related to costs to obtain and fulfill contracts, deferred implementation costs, revaluation of contingent consideration, and business combinations.</span></div>
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us-gaap Depreciation
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us-gaap Depreciation
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Contract With Customer Liability Revenue Recognized
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CY2022Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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CY2022Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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CY2022Q2 us-gaap Revenue Remaining Performance Obligation Percentage
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CY2022Q2 us-gaap Capitalized Contract Cost Net
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CY2021Q4 us-gaap Capitalized Contract Cost Net
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us-gaap Capitalized Contract Cost Impairment Loss
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CY2021Q2 us-gaap Capitalized Contract Cost Impairment Loss
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us-gaap Capitalized Contract Cost Impairment Loss
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CY2022Q2 us-gaap Accounts Receivable Gross Current
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CY2021Q4 us-gaap Accounts Receivable Gross Current
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CY2022Q2 us-gaap Accounts Receivable Net Current
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CY2021Q4 us-gaap Accounts Receivable Net Current
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CY2022Q2 us-gaap Accrued Bonuses Current
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CY2021Q4 alk Accrued Vendor Purchases Current
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CY2022Q2 us-gaap Accrued Sales Commission Current
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CY2021Q4 us-gaap Accrued Sales Commission Current
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CY2022Q2 us-gaap Contract With Customer Refund Liability Current
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CY2021Q4 us-gaap Contract With Customer Refund Liability Current
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CY2022Q2 us-gaap Deferred Compensation Liability Current
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CY2021Q4 us-gaap Deferred Compensation Liability Current
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625000 usd
CY2022Q2 us-gaap Accrued Professional Fees Current
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CY2021Q4 us-gaap Accrued Professional Fees Current
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CY2022Q2 us-gaap Taxes Payable Current
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CY2021Q4 us-gaap Taxes Payable Current
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CY2022Q2 alk Holdback Provision Liability Current
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CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
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CY2022Q2 us-gaap Allocated Share Based Compensation Expense
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CY2021Q2 us-gaap Lease And Rental Expense
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us-gaap Lease And Rental Expense
LeaseAndRentalExpense
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CY2022Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
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CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due
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CY2022Q2 us-gaap Deferred Rent Credit
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CY2022Q2 us-gaap Deferred Rent Credit Noncurrent
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CY2021Q4 us-gaap Deferred Rent Credit Noncurrent
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CY2021Q2 us-gaap Goodwill
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CY2022Q2 us-gaap Goodwill
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CY2021Q4 us-gaap Goodwill
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CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
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CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2022Q2 us-gaap Finite Lived Intangible Assets Net
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CY2022Q2 us-gaap Intangible Assets Gross Excluding Goodwill
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CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2927000 usd
CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
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CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
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CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2021Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
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CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
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CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
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CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1200000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1600000 usd
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
200000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
400000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
3323000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
6633000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
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CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
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CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
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CY2022Q2 alk Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
15270000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
44893000 usd

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