$ALTI
AlTi Global, Inc.

2022 Q4 Form 10-K Financial Statement

#000119312523103797 Filed on April 17, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022
Revenue $19.43M $76.87M
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $21.30M $71.01M
YoY Change -16.48% 178.41%
% of Gross Profit
Research & Development $6.331M
YoY Change 24.87%
% of Gross Profit
Depreciation & Amortization $549.1K $2.339M
YoY Change 565.71% 1317.88%
% of Gross Profit
Operating Expenses $23.12M $78.19M
YoY Change 4771.75% 7622.98%
Operating Profit -$8.859M
YoY Change -108.97%
Interest Expense -$248.8K -$214.7K
YoY Change -125.47% -105.45%
% of Operating Profit
Other Income/Expense, Net -$3.910M $17.64M
YoY Change 21454.13% -544.8%
Pretax Income -$7.853M -$5.471M
YoY Change -1721.65% 428.42%
Income Tax $164.0K $526.6K
% Of Pretax Income
Net Earnings -$7.991M $8.779M
YoY Change -1750.08% -947.9%
Net Earnings / Revenue -41.13% 11.42%
Basic Earnings Per Share -$839.90
Diluted Earnings Per Share -$0.14 -$0.10
COMMON SHARES
Basic Shares Outstanding 7.007K shares
Diluted Shares Outstanding 7.007K shares

Balance Sheet

Concept 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.131M $7.131M
YoY Change 1193.57% 1193.57%
Cash & Equivalents $85.54K $7.131M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $0.00
Receivables $1.161M $1.161M
Other Receivables $23.54M $23.54M
Total Short-Term Assets $85.54K $31.84M
YoY Change -86.24% 5021.31%
LONG-TERM ASSETS
Property, Plant & Equipment $975.0K $11.07M
YoY Change -18.75% 5214.71%
Goodwill $25.46M
YoY Change 14.78%
Intangibles $20.58M
YoY Change
Long-Term Investments $52.00K $196.5K
YoY Change -99.98% -99.94%
Other Assets $2.842M $2.842M
YoY Change
Total Long-Term Assets $350.0M $60.15M
YoY Change 1.44% -82.57%
TOTAL ASSETS
Total Short-Term Assets $85.54K $31.84M
Total Long-Term Assets $350.0M $60.15M
Total Assets $350.1M $91.99M
YoY Change 1.28% -73.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.073M $8.073M
YoY Change 4332.92% 4332.92%
Accrued Expenses $29.61M $29.61M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.005M $39.21M
YoY Change 4295.26% 21427.26%
LONG-TERM LIABILITIES
Long-Term Debt $21.19M $21.19M
YoY Change
Other Long-Term Liabilities $13.66M $13.66M
YoY Change -61.15% -61.15%
Total Long-Term Liabilities $34.85M $34.85M
YoY Change -0.91% -0.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.005M $39.21M
Total Long-Term Liabilities $34.85M $34.85M
Total Liabilities $26.91M $74.46M
YoY Change -23.88% 110.62%
SHAREHOLDERS EQUITY
Retained Earnings -$28.02M
YoY Change -19.31%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$26.82M $17.53M
YoY Change
Total Liabilities & Shareholders Equity $350.1M $91.99M
YoY Change 1.28% -73.39%

Cashflow Statement

Concept 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$7.991M $8.779M
YoY Change -1750.08% -947.9%
Depreciation, Depletion And Amortization $549.1K $2.339M
YoY Change 565.71% 1317.88%
Cash From Operating Activities $3.599M -$965.7K
YoY Change -2287.41% 6.28%
INVESTING ACTIVITIES
Capital Expenditures $101.0K $156.3K
YoY Change 7489.32%
Acquisitions $8.097M
YoY Change
Other Investing Activities $149.3K -$7.072M
YoY Change -97.95%
Cash From Investing Activities $48.32K $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $2.810M
YoY Change -60.2%
Cash From Financing Activities -831.4K 500.0K
YoY Change -99.86%
NET CHANGE
Cash From Operating Activities 3.599M -965.7K
Cash From Investing Activities 48.32K 0.000
Cash From Financing Activities -831.4K 500.0K
Net Change In Cash 2.815M -465.7K
YoY Change -1811.4% -184.48%
FREE CASH FLOW
Cash From Operating Activities $3.599M -$965.7K
Capital Expenditures $101.0K $156.3K
Free Cash Flow $3.497M -$1.122M
YoY Change -2226.01% 23.2%

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<div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Use of Estimates </div></div></div></div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The preparation of the financial statements in conformity with U.S. 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 expenses during the reporting periods. </div> <div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the more significant accounting estimates included in these financial statements is the determination of the fair value of the warrant liabilities. Such estimates may be subject to change as more current information becomes available and accordingly, the actual results could differ significantly from those estimates. </div>
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CY2021Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
345031308
CY2022 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
4952531
CY2022Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
349983839
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
8779014
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1035380
CY2022 alti Less Income Allocable To Nonredeemable Class A Ordinary Shares
LessIncomeAllocableToNonredeemableClassAOrdinaryShares
-1755803
CY2021 alti Less Income Allocable To Nonredeemable Class A Ordinary Shares
LessIncomeAllocableToNonredeemableClassAOrdinaryShares
-232904
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
7023211
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-802476
CY2022 alti Net Income
NetIncome
8779014
CY2021 alti Net Income
NetIncome
-1035380
CY2022 alti Income Attributable To Ordinary Share Subject To Possible Redemption
IncomeAttributableToOrdinaryShareSubjectToPossibleRedemption
-7023211
CY2021 alti Income Attributable To Ordinary Share Subject To Possible Redemption
IncomeAttributableToOrdinaryShareSubjectToPossibleRedemption
-802476
CY2022 alti Non Redeemable Net Income
NonRedeemableNetIncome
1755803
CY2021 alti Non Redeemable Net Income
NonRedeemableNetIncome
-232904
CY2022 alti Service Fee Expense
ServiceFeeExpense
120000
CY2021 alti Service Fee Expense
ServiceFeeExpense
100000
CY2022 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.
CY2022 alti 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 alti Price Per Share Unit
PricePerShareUnit
0.003
CY2022 alti 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 any30-tradingday 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.
CY2022Q4 alti Working Capital Loan
WorkingCapitalLoan
1500000
CY2022 alti Price Per Warrant
PricePerWarrant
1
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
32145
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
0
CY2021Q1 alti Underwriting Discount Percent
UnderwritingDiscountPercent
0.02
CY2021Q1 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
6900000
CY2022 alti Deferred Underwriting Discount Percent
DeferredUnderwritingDiscountPercent
0.035
CY2022 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
12075000
CY2022Q4 alti Deferred Underwriting Commission
DeferredUnderwritingCommission
4275000
CY2022Q4 alti Deferred Underwriting Fee Payable
DeferredUnderwritingFeePayable
12075000
CY2022Q4 us-gaap Other Income
OtherIncome
195857
CY2022Q4 alti Waived Deferred Underwriting Fee
WaivedDeferredUnderwritingFee
4079413
CY2022Q4 alti Deferred Underwriting Fee Payable
DeferredUnderwritingFeePayable
7800000
CY2021Q4 alti Deferred Underwriting Fee Payable
DeferredUnderwritingFeePayable
12075000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022 us-gaap Sale Of Stock Percentage Of Ownership Before Transaction
SaleOfStockPercentageOfOwnershipBeforeTransaction
0.20
CY2022Q4 us-gaap Assets Held In Trust
AssetsHeldInTrust
349983839
CY2022 us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
10531140
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
CY2022 alti Change In Fair Value Of Public And Private Warrants
ChangeInFairValueOfPublicAndPrivateWarrants
-5679719
CY2022Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
4648890
CY2020Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
0
CY2021 alti Initial Fair Value Of Public And Private Warrants
InitialFairValueOfPublicAndPrivateWarrants
27004700
CY2021 alti Transfer Of Public Warrants To Level1
TransferOfPublicWarrantsToLevel1
-15007500
CY2021 alti Change In Fair Value Of Public And Private Warrants
ChangeInFairValueOfPublicAndPrivateWarrants
-1668591
CY2021Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
10328609
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.047
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.013
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P0Y5M15D
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y5M26D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.225
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.175
CY2022Q4 us-gaap Share Price
SharePrice
10.91
CY2021Q4 us-gaap Share Price
SharePrice
9.88
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001

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