$ALTI
AlTi Global, Inc.

2022 Q2 Form 10-Q Financial Statement

#000119312522221239 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue $1.068M $2.240M
YoY Change -5.77%
Gross Profit $30.60M $99.82M
YoY Change -1.01%
Gross Profit Margin
Selling, General & Admin $10.62M $536.0K $25.50M
YoY Change 2.2%
% of Gross Profit 34.72% 25.55%
Research & Development $1.418M $1.440M
YoY Change
% of Gross Profit 4.63%
Depreciation & Amortization $79.83K $610.0K $82.48K
YoY Change -3.21%
% of Gross Profit 0.26% 0.08%
Operating Expenses $171.3K $478.6K $474.6K
YoY Change -18.93% 431.74%
Operating Profit -$171.3K $1.174M $99.34M
YoY Change -18.93%
Interest Expense -$87.85K $10.40M $977.0K
YoY Change -100.93% -1295.34%
% of Operating Profit 885.81% 0.98%
Other Income/Expense, Net -$87.85K $0.00 -$18.14K
YoY Change -100.93% -100.0%
Pretax Income -$259.1K $9.921M $484.3K
YoY Change -102.8% -302.47%
Income Tax $607.5K $193.0K $1.457M
% Of Pretax Income 1.95% 300.81%
Net Earnings -$259.1K $9.921M $484.3K
YoY Change -102.8% -302.4%
Net Earnings / Revenue
Basic Earnings Per Share $137.70 $129.20
Diluted Earnings Per Share -$6.009K $230.0K $11.21K
COMMON SHARES
Basic Shares Outstanding 7.007K shares 6.956K shares
Diluted Shares Outstanding 7.007K shares 6.956K shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $565.2K $109.2K $551.3K
YoY Change -32.02% -87.86%
Cash & Equivalents $565.2K $3.988M $551.3K
Short-Term Investments $12.80M
Other Short-Term Assets $36.43K $64.37K $70.41K
YoY Change -89.39% -87.13%
Inventory
Prepaid Expenses $36.43K $70.41K
Receivables $1.600M $1.700M
Other Receivables $19.50M $20.00M
Total Short-Term Assets $601.6K $173.6K $621.7K
YoY Change -48.79% -87.6%
LONG-TERM ASSETS
Property, Plant & Equipment $3.474M $1.200M
YoY Change
Goodwill $22.19M
YoY Change
Intangibles
YoY Change
Long-Term Investments $345.6M $345.2M $345.0M
YoY Change 0.16% 0.05%
Other Assets $572.4K $0.00
YoY Change
Total Long-Term Assets $345.6M $345.2M $345.0M
YoY Change 0.16% 0.05%
TOTAL ASSETS
Total Short-Term Assets $601.6K $173.6K $621.7K
Total Long-Term Assets $345.6M $345.2M $345.0M
Total Assets $346.2M $345.3M $345.7M
YoY Change -0.01% -0.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $311.9K $212.6K $182.1K
YoY Change
Accrued Expenses $3.587M $0.00
YoY Change 16724.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.000M
YoY Change
Total Short-Term Liabilities $311.9K $212.6K $182.1K
YoY Change 1362.98%
LONG-TERM LIABILITIES
Long-Term Debt $463.3K $0.00 $0.00
YoY Change
Other Long-Term Liabilities $25.43M $24.91M $35.17M
YoY Change -16.66% -37.73%
Total Long-Term Liabilities $25.89M $24.91M $35.17M
YoY Change -15.14% -37.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $311.9K $212.6K $182.1K
Total Long-Term Liabilities $25.89M $24.91M $35.17M
Total Liabilities $26.20M $25.12M $35.35M
YoY Change -14.17% -37.2%
SHAREHOLDERS EQUITY
Retained Earnings -$25.60M -$34.73M
YoY Change
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$25.60M -$24.93M -$34.73M
YoY Change
Total Liabilities & Shareholders Equity $346.2M $345.3M $345.7M
YoY Change -0.01% -0.3%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$259.1K $9.921M $484.3K
YoY Change -102.8% -302.4%
Depreciation, Depletion And Amortization $79.83K $610.0K $82.48K
YoY Change -3.21%
Cash From Operating Activities -$44.07K -$442.0K -$164.5K
YoY Change -24.73% -22.45%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K $6.000K $0.00
YoY Change
Acquisitions $8.097M
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $640.0K
YoY Change
Cash From Financing Activities 500.0K 0.000 0.000
YoY Change -833433.33% -100.0%
NET CHANGE
Cash From Operating Activities -44.07K -442.0K -164.5K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 500.0K 0.000 0.000
Net Change In Cash 455.9K -442.0K -164.5K
YoY Change -877.9% -149.67%
FREE CASH FLOW
Cash From Operating Activities -$44.07K -$442.0K -$164.5K
Capital Expenditures -$10.00K $6.000K $0.00
Free Cash Flow -$34.07K -$448.0K -$164.5K
YoY Change -41.81%

Facts In Submission

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<div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Use of Estimates </div></div></div></div> <div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"/></div> <div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;text-indent: 0px;;display:inline;"/></div> <div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of unaudited condensed 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 unaudited condensed financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. </div></div></div> <div style="font-size: 18pt; margin-top: 0pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="display:inline;"><div style="font-size: 18pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div> <div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div>
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CY2021 glbl Accretion Of Carrying Value To Redemption Value
AccretionOfCarryingValueToRedemptionValue
33679429
CY2021 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
31308
CY2021Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
345031308
us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
534374
CY2022Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
345565682
CY2022Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-259121
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
9245674
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
9661765
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
4344114
CY2022Q2 glbl Less Income Allocable To Nonredeemable Class A Ordinary Shares
LessIncomeAllocableToNonredeemableClassAOrdinaryShares
-51824
CY2021Q2 glbl Less Income Allocable To Nonredeemable Class A Ordinary Shares
LessIncomeAllocableToNonredeemableClassAOrdinaryShares
1849135
glbl Less Income Allocable To Nonredeemable Class A Ordinary Shares
LessIncomeAllocableToNonredeemableClassAOrdinaryShares
1932353
glbl Less Income Allocable To Nonredeemable Class A Ordinary Shares
LessIncomeAllocableToNonredeemableClassAOrdinaryShares
1126085
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-207297
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
7396539
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
7729412
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3218029
CY2022Q2 glbl Net Income
NetIncome
-259121
CY2021Q2 glbl Net Income
NetIncome
9245674
glbl Net Income
NetIncome
9661765
glbl Net Income
NetIncome
4344114
CY2022Q2 glbl Income Attributable To Ordinary Share Subject To Possible Redemption
IncomeAttributableToOrdinaryShareSubjectToPossibleRedemption
-207297
CY2021Q2 glbl Income Attributable To Ordinary Share Subject To Possible Redemption
IncomeAttributableToOrdinaryShareSubjectToPossibleRedemption
7396539
glbl Income Attributable To Ordinary Share Subject To Possible Redemption
IncomeAttributableToOrdinaryShareSubjectToPossibleRedemption
7729412
glbl Income Attributable To Ordinary Share Subject To Possible Redemption
IncomeAttributableToOrdinaryShareSubjectToPossibleRedemption
3218029
CY2022Q2 glbl Non Redeemable Net Income
NonRedeemableNetIncome
-51824
CY2021Q2 glbl Non Redeemable Net Income
NonRedeemableNetIncome
1849135
glbl Non Redeemable Net Income
NonRedeemableNetIncome
1932353
glbl Non Redeemable Net Income
NonRedeemableNetIncome
1126085
us-gaap Business Combination Control Obtained Description
BusinessCombinationControlObtainedDescription
In addition, if (i) the Company issues additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of the initial Business Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and in the case of any such issuance to the Sponsor or its affiliates, without taking into account any founder shares held by the Sponsor or its affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (ii) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the initial Business Combination on the date of the consummation of the initial Business Combination (net of redemptions), and (iii) the volume weighted average trading price of the Company’s Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates its initial Business Combination (such price, the “Market Value”) is below $9.20 per share, then the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described adjacent to “Redemption of warrants when the price per ordinary share equals or exceeds $18.00” will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, respectively.
glbl Redemption Warrants Description
RedemptionWarrantsDescription
Redemption of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $18.00 Once the Warrants become exercisable, the Company may redeem the outstanding Warrants (except as described herein with respect to the Private Warrants):     •   in whole and not in part;     •   at a price of $0.01 per Warrant;     •   upon not less than 30 days’ prior written notice of redemption (the “30-day redemption period”) to each Warrant holder;     •   if, and only if, the last sale price of the Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for share splits, share dividends, reorganizations. and recapitalizations), for any 20 trading days within a 30-trading day period ending on the third business day prior to the notice of redemption to the Warrant holders; and     •   if, and only if, there is a current registration statement in effect with respect to the Class A ordinary shares underlying the Warrants.
CY2020Q4 us-gaap Sponsor Fees
SponsorFees
25000
CY2020Q4 glbl Price Per Share Unit
PricePerShareUnit
0.003
glbl Business Combination Description
BusinessCombinationDescription
The initial shareholders have agreed not to transfer, assign or sell any of the founder shares (except to certain permitted transferees) until the earlier of (i) one year after the date of the completion of the initial Business Combination or earlier if, subsequent to the initial Business Combination, the last reported sale price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing at least 150 days after the initial Business Combination, or (ii) the Company consummates a subsequent liquidation, merger, capital stock exchange or other similar transaction which results in all of the shareholders having the right to exchange their ordinary shares for cash, securities or other property.
CY2022Q2 glbl Working Capital Loan
WorkingCapitalLoan
1500000
glbl Price Per Warrant
PricePerWarrant
1
CY2022Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
36739
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
0
glbl Office Space Monthly Rent
OfficeSpaceMonthlyRent
10000
CY2022Q2 glbl Service Fee Expense
ServiceFeeExpense
30000
glbl Service Fee Expense
ServiceFeeExpense
60000
CY2021Q2 glbl Service Fee Expense
ServiceFeeExpense
30000
glbl Service Fee Expense
ServiceFeeExpense
50000
CY2021Q1 glbl Underwriting Discount Percent
UnderwritingDiscountPercent
0.02
CY2021Q1 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
6900000
glbl Deferred Underwriting Discount Percent
DeferredUnderwritingDiscountPercent
0.035
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
12075000
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
us-gaap Sale Of Stock Percentage Of Ownership Before Transaction
SaleOfStockPercentageOfOwnershipBeforeTransaction
0.20
CY2022Q2 us-gaap Assets Held In Trust
AssetsHeldInTrust
345565682
us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
13353111
CY2021Q4 us-gaap Assets Held In Trust
AssetsHeldInTrust
345031308
CY2021 us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
23093609
CY2021Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
10328609
CY2022Q1 glbl Change In Fair Value Of Public And Private Warrants
ChangeInFairValueOfPublicAndPrivateWarrants
-4682154
CY2022Q1 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
5646455
CY2022Q2 glbl Change In Fair Value Of Public And Private Warrants
ChangeInFairValueOfPublicAndPrivateWarrants
225658
CY2022Q2 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
5872113
CY2020Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
0
CY2021 glbl Initial Fair Value Of Public And Private Warrants
InitialFairValueOfPublicAndPrivateWarrants
27004700
CY2021 glbl Transfer Of Public Warrants To Level1
TransferOfPublicWarrantsToLevel1
-15007500
CY2021 glbl Change In Fair Value Of Public And Private Warrants
ChangeInFairValueOfPublicAndPrivateWarrants
-1668591
CY2021Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
10328609
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0301
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.013
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y2M12D
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y5M26D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.081
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.175
CY2022Q2 us-gaap Share Price
SharePrice
9.83
CY2021Q4 us-gaap Share Price
SharePrice
9.88

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