2023 Q1 Form 10-Q Financial Statement

#000182872323000073 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022 Q1
Revenue $29.38M $26.76M $19.20M
YoY Change 53.02% 24.03% 53.95%
Cost Of Revenue $5.976M $4.690M $4.064M
YoY Change 47.05% 16.55%
Gross Profit $23.40M $22.07M $15.14M
YoY Change 54.62% 25.75%
Gross Profit Margin 79.66% 82.48% 78.83%
Selling, General & Admin $10.23M $8.258M $7.689M
YoY Change 33.1% 74.55% 700.94%
% of Gross Profit 43.73% 37.41% 50.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.38M $8.781M $6.822M
YoY Change 66.75% 29.13%
% of Gross Profit 48.61% 39.78% 45.07%
Operating Expenses $29.13M $17.26M $19.04M
YoY Change 52.99% 55.1% 101.61%
Operating Profit $251.0K $4.810M $161.0K
YoY Change 55.9% -25.11% -94.68%
Interest Expense $400.0K -$6.394M $400.0K
YoY Change 0.0% 7.08%
% of Operating Profit 159.36% -132.93% 248.45%
Other Income/Expense, Net $4.482M $72.55M $59.85M
YoY Change -92.51% 2115.85% -1674.2%
Pretax Income $4.733M $65.61M $60.01M
YoY Change -92.11% 303.41% -7853.49%
Income Tax $900.0K -$1.472M -$100.0K
% Of Pretax Income 19.02% -2.24% -0.17%
Net Earnings $5.617M $67.45M $60.42M
YoY Change -90.7% 838.37% 6180.56%
Net Earnings / Revenue 19.12% 252.02% 314.7%
Basic Earnings Per Share $0.04 $0.39
Diluted Earnings Per Share $0.03 $0.42 $0.39
COMMON SHARES
Basic Shares Outstanding 159.0M shares 152.7M shares
Diluted Shares Outstanding 161.0M shares 153.6M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.45M $193.0M $318.2M
YoY Change -78.17% -40.79% 113534.64%
Cash & Equivalents $69.45M $193.0M $322.5M
Short-Term Investments
Other Short-Term Assets $4.440M $6.206M $6.619M
YoY Change -32.92% -6.8% 366.13%
Inventory
Prepaid Expenses
Receivables $16.12M $13.44M $8.494M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $93.38M $215.1M $335.8M
YoY Change -72.2% -37.55% 19676.22%
LONG-TERM ASSETS
Property, Plant & Equipment $1.372B $1.005B $746.0M
YoY Change 83.87% 34.79%
Goodwill $601.0K
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.277M $6.651M $3.738M
YoY Change 121.43% 43.4% -99.07%
Total Long-Term Assets $1.564B $1.162B $768.5M
YoY Change 103.51% 51.11% 90.93%
TOTAL ASSETS
Total Short-Term Assets $93.38M $215.1M $335.8M
Total Long-Term Assets $1.564B $1.162B $768.5M
Total Assets $1.657B $1.377B $1.104B
YoY Change 50.08% 23.68% 173.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.568M $2.740M $2.394M
YoY Change 132.58% -23.7%
Accrued Expenses $9.344M $7.775M $4.362M
YoY Change 114.21% 73.01% 525.45%
Deferred Revenue $4.223M $2.590M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $32.55M $29.96M $21.22M
YoY Change 53.4% 41.7%
Total Short-Term Liabilities $96.28M $68.23M $31.47M
YoY Change 205.92% 107.44% 4279.89%
LONG-TERM LIABILITIES
Long-Term Debt $835.7M $634.6M $521.9M
YoY Change 60.14% 20.91%
Other Long-Term Liabilities $1.805M $4.700M $6.698M
YoY Change -73.05% -15.88% -27.67%
Total Long-Term Liabilities $837.5M $639.3M $528.6M
YoY Change 58.45% 20.53% 5608.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $96.28M $68.23M $31.47M
Total Long-Term Liabilities $837.5M $639.3M $528.6M
Total Liabilities $1.167B $913.8M $702.6M
YoY Change 66.11% 18.42% 2819.91%
SHAREHOLDERS EQUITY
Retained Earnings -$40.30M -$45.92M -$40.94M
YoY Change -1.55% -54.7% 83.04%
Common Stock $16.00K $16.00K $15.00K
YoY Change 6.67% 6.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $433.2M $424.1M $365.9M
YoY Change
Total Liabilities & Shareholders Equity $1.657B $1.377B $1.104B
YoY Change 50.08% 23.68% 173.21%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022 Q1
OPERATING ACTIVITIES
Net Income $5.617M $67.45M $60.42M
YoY Change -90.7% 838.37% 6180.56%
Depreciation, Depletion And Amortization $11.38M $8.781M $6.822M
YoY Change 66.75% 29.13%
Cash From Operating Activities $14.23M $10.40M $3.499M
YoY Change 306.54% 90.67% 8.6%
INVESTING ACTIVITIES
Capital Expenditures $24.84M $41.55M $6.571M
YoY Change 278.09% -1059.65% 197.33%
Acquisitions $288.2M $0.00
YoY Change -100.0%
Other Investing Activities -$294.6M -$76.75M $0.00
YoY Change 1314.19%
Cash From Investing Activities -$319.4M -$118.3M -$6.571M
YoY Change 4761.28% 1112.47% -24.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $7.724M $3.411M
YoY Change 126.44% -49.04%
Cash From Financing Activities $190.0M 9.907M -$4.720M
YoY Change -4125.28% -96.65% -42.45%
NET CHANGE
Cash From Operating Activities $14.23M 10.40M $3.499M
Cash From Investing Activities -$319.4M -118.3M -$6.571M
Cash From Financing Activities $190.0M 9.907M -$4.720M
Net Change In Cash -$115.2M -97.99M -$7.792M
YoY Change 1378.66% -133.66% -42.92%
FREE CASH FLOW
Cash From Operating Activities $14.23M $10.40M $3.499M
Capital Expenditures $24.84M $41.55M $6.571M
Free Cash Flow -$10.62M -$31.15M -$3.072M
YoY Change 245.67% -418.31% -403.56%

Facts In Submission

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CY2022Q4 us-gaap Common Stock Shares Authorized
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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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2813000 usd
CY2023Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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526000 usd
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CY2023Q1 us-gaap Noncontrolling Interest Increase From Business Combination
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CY2022Q1 us-gaap Profit Loss
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CY2022Q1 us-gaap Increase Decrease In Due From Related Parties
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CY2023Q1 us-gaap Operating Lease Expense
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CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
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CY2022Q1 us-gaap Deferred Income Tax Expense Benefit
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CY2022Q1 us-gaap Amortization Of Financing Costs And Discounts
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CY2022Q1 us-gaap Fair Value Adjustment Of Warrants
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CY2022Q1 amps Gain Loss In Fair Value Change Of Alignment Shares Liability
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CY2023Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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CY2022Q1 us-gaap Share Based Compensation
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CY2023Q1 us-gaap Other Operating Activities Cash Flow Statement
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138000 usd
CY2022Q1 us-gaap Other Operating Activities Cash Flow Statement
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283000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2023Q1 us-gaap Increase Decrease In Due From Related Parties
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CY2022Q1 us-gaap Increase Decrease In Due From Related Parties
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CY2023Q1 us-gaap Increase Decrease In Derivative Assets
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CY2022Q1 us-gaap Deferred Income Tax Expense Benefit
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CY2023Q1 us-gaap Amortization Of Financing Costs And Discounts
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753000 usd
CY2022Q1 us-gaap Amortization Of Financing Costs And Discounts
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711000 usd
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
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CY2022Q1 us-gaap Fair Value Adjustment Of Warrants
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CY2023Q1 amps Gain Loss In Fair Value Change Of Alignment Shares Liability
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CY2022Q1 amps Gain Loss In Fair Value Change Of Alignment Shares Liability
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46346000 usd
CY2023Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
50000 usd
CY2022Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
169000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2813000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1305000 usd
CY2023Q1 us-gaap Other Operating Activities Cash Flow Statement
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138000 usd
CY2022Q1 us-gaap Other Operating Activities Cash Flow Statement
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283000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2023Q1 us-gaap Increase Decrease In Due From Related Parties
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CY2023Q1 us-gaap Increase Decrease In Derivative Assets
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CY2022Q1 us-gaap Increase Decrease In Derivative Assets
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901000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2828000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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CY2023Q1 us-gaap Increase Decrease In Interest Payable Net
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1204000 usd
CY2022Q1 us-gaap Increase Decrease In Interest Payable Net
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CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
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152000 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
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2323000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Liabilities
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CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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288241000 usd
CY2023Q1 us-gaap Payments To Acquire Business Two Net Of Cash Acquired
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6350000 usd
CY2022Q1 us-gaap Increase Decrease In Derivative Assets
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901000 usd
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CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
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CY2023Q1 us-gaap Increase Decrease In Accounts Payable
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2828000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
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CY2023Q1 us-gaap Increase Decrease In Interest Payable Net
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CY2022Q1 us-gaap Increase Decrease In Interest Payable Net
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CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
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152000 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
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CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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288241000 usd
CY2022Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2022Q1 us-gaap Payments To Acquire Business Two Net Of Cash Acquired
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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q1 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2023Q1 us-gaap Repayments Of Long Term Debt
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CY2023Q1 us-gaap Payments Of Debt Issuance Costs
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CY2022Q1 us-gaap Payments Of Debt Issuance Costs
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CY2023Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
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4531000 usd
CY2022Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
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CY2022Q1 amps Redemption Of Noncontrolling Interests
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CY2023Q1 us-gaap Payments To Minority Shareholders
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CY2022Q1 us-gaap Payments To Minority Shareholders
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CY2022Q1 us-gaap Payments To Acquire Business Two Net Of Cash Acquired
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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q1 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2023Q1 us-gaap Repayments Of Long Term Debt
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CY2022Q1 us-gaap Repayments Of Long Term Debt
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CY2023Q1 us-gaap Payments Of Debt Issuance Costs
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CY2022Q1 us-gaap Payments Of Debt Issuance Costs
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CY2023Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
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4531000 usd
CY2022Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
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CY2023Q1 amps Redemption Of Noncontrolling Interests
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CY2022Q1 amps Redemption Of Noncontrolling Interests
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q1 us-gaap Increase Decrease In Asset Retirement Obligations
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CY2022Q1 us-gaap Increase Decrease In Asset Retirement Obligations
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CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
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CY2022Q1 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
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NoncontrollingInterestAssumedThroughAcquisitions
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CY2022Q1 amps Noncontrolling Interest Assumed Through Acquisitions
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
330321000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q1 us-gaap Interest Paid Capitalized
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CY2022Q1 us-gaap Interest Paid Capitalized
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CY2023Q1 us-gaap Increase Decrease In Asset Retirement Obligations
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3847000 usd
CY2022Q1 us-gaap Increase Decrease In Asset Retirement Obligations
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CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
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CY2023Q1 amps Noncontrolling Interest Assumed Through Acquisitions
NoncontrollingInterestAssumedThroughAcquisitions
13296000 usd
CY2022Q1 amps Noncontrolling Interest Assumed Through Acquisitions
NoncontrollingInterestAssumedThroughAcquisitions
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CY2023Q1 amps Proceeds From Contribution Of Noncontrolling Interest From Common Equity Stockholder
ProceedsFromContributionOfNoncontrollingInterestFromCommonEquityStockholder
8100000 usd
CY2022Q1 amps Proceeds From Contribution Of Noncontrolling Interest From Common Equity Stockholder
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CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Other Liabilities Assumed1
NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1
10872000 usd
CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Other Liabilities Assumed1
NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1
10872000 usd
CY2022Q1 us-gaap Noncash Or Part Noncash Acquisition Other Liabilities Assumed1
NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1
0 usd
CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
0 usd
CY2022Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
1066000 usd
CY2023Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
11000 usd
CY2022Q1 us-gaap Conversion Of Stock Amount Converted1
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CY2023Q1 amps Noncash Or Part Noncash Deferred Purchase Price Payable
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7069000 usd
CY2022Q1 amps Noncash Or Part Noncash Deferred Purchase Price Payable
NoncashOrPartNoncashDeferredPurchasePricePayable
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CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
General<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Company Overview </span></div><div style="margin-bottom:10pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Altus Power, Inc., a Delaware corporation (the “</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Company</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">” or "</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Altus Power</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"), headquartered in Stamford, Connecticut, develops, owns, constructs and operates large-scale roof, ground and carport-based photovoltaic solar energy generation and storage systems, for the purpose of producing and selling electricity to credit worthy counterparties, including commercial and industrial, public sector and community solar customers, under long-term contracts. The Solar energy facilities are owned by the Company in project specific limited liability companies (the “</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Solar Facility Subsidiaries</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">”).</span></div><div style="margin-bottom:10pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 9, 2021 (the "</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Closing Date</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"), CBRE Acquisition Holdings, Inc. ("</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">CBAH</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"), a special purpose acquisition company, consummated the business combination pursuant to the terms of the business combination agreement entered into on July 12, 2021 (the "</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Business Combination Agreement</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"), whereby, among other things, CBAH Merger Sub I, Inc. ("</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">First Merger Sub</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">") merged with and into Altus Power, Inc. (f/k/a Altus Power America, Inc.) ("</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Legacy Altus</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">") with Legacy Altus continuing as the surviving corporation, and immediately thereafter Legacy Altus merged with and into CBAH Merger Sub II, Inc. ("</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Second Merger Sub</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">") with Second Merger Sub continuing as the surviving entity and as a wholly owned subsidiary of CBAH (together with the merger with the First Merger Sub, the “</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Merger</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">”). In connection with the closing of the Merger, CBAH changed its name to "Altus Power, Inc." and CBAH Merger Sub II (after merger with Legacy Altus) changed its name to "Altus Power, LLC."</span></div>
CY2022Q1 us-gaap Noncash Or Part Noncash Acquisition Other Liabilities Assumed1
NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1
0 usd
CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
0 usd
CY2022Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
1066000 usd
CY2023Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
11000 usd
CY2022Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
usd
CY2023Q1 amps Noncash Or Part Noncash Deferred Purchase Price Payable
NoncashOrPartNoncashDeferredPurchasePricePayable
7069000 usd
CY2022Q1 amps Noncash Or Part Noncash Deferred Purchase Price Payable
NoncashOrPartNoncashDeferredPurchasePricePayable
0 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
General<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Company Overview </span></div><div style="margin-bottom:10pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Altus Power, Inc., a Delaware corporation (the “</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Company</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">” or "</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Altus Power</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"), headquartered in Stamford, Connecticut, develops, owns, constructs and operates large-scale roof, ground and carport-based photovoltaic solar energy generation and storage systems, for the purpose of producing and selling electricity to credit worthy counterparties, including commercial and industrial, public sector and community solar customers, under long-term contracts. The Solar energy facilities are owned by the Company in project specific limited liability companies (the “</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Solar Facility Subsidiaries</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">”).</span></div><div style="margin-bottom:10pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 9, 2021 (the "</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Closing Date</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"), CBRE Acquisition Holdings, Inc. ("</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">CBAH</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"), a special purpose acquisition company, consummated the business combination pursuant to the terms of the business combination agreement entered into on July 12, 2021 (the "</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Business Combination Agreement</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"), whereby, among other things, CBAH Merger Sub I, Inc. ("</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">First Merger Sub</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">") merged with and into Altus Power, Inc. (f/k/a Altus Power America, Inc.) ("</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Legacy Altus</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">") with Legacy Altus continuing as the surviving corporation, and immediately thereafter Legacy Altus merged with and into CBAH Merger Sub II, Inc. ("</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Second Merger Sub</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">") with Second Merger Sub continuing as the surviving entity and as a wholly owned subsidiary of CBAH (together with the merger with the First Merger Sub, the “</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Merger</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">”). In connection with the closing of the Merger, CBAH changed its name to "Altus Power, Inc." and CBAH Merger Sub II (after merger with Legacy Altus) changed its name to "Altus Power, LLC."</span></div>
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Reclassifications Certain prior year amounts have been reclassified for consistency with the current year financial statement presentation. Such reclassifications have no impact on previously reported net income, stockholders' equity, or cash flows.
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Reclassifications Certain prior year amounts have been reclassified for consistency with the current year financial statement presentation. Such reclassifications have no impact on previously reported net income, stockholders' equity, or cash flows.
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div><div style="margin-bottom:10pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. </span></div><div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In recording transactions and balances resulting from business operations, the Company uses estimates based on the best information available. Estimates are used for such items as the fair value of net assets acquired in connection with accounting for business combinations, the useful lives of the solar energy facilities, and inputs and assumptions used in the valuation of asset retirement obligations (“</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">AROs</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">”), contingent consideration, and alignment shares.</span></div>
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
69450000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div><div style="margin-bottom:10pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. </span></div><div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In recording transactions and balances resulting from business operations, the Company uses estimates based on the best information available. Estimates are used for such items as the fair value of net assets acquired in connection with accounting for business combinations, the useful lives of the solar energy facilities, and inputs and assumptions used in the valuation of asset retirement obligations (“</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">AROs</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">”), contingent consideration, and alignment shares.</span></div>
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
69450000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
193016000 usd
CY2023Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
3376000 usd
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
2404000 usd
CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
11355000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
3978000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
84181000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
199398000 usd
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:6pt;margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company maintains its cash in bank deposit accounts which, at times, may exceed Federal Deposit Insurance Corporation insurance limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash balances.</span></div>
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
193016000 usd
CY2023Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
3376000 usd
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
2404000 usd
CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
11355000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
3978000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
84181000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
199398000 usd
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:6pt;margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company maintains its cash in bank deposit accounts which, at times, may exceed Federal Deposit Insurance Corporation insurance limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash balances.</span></div>
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29378000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29378000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19199000 usd
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
16116000 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
13443000 usd
CY2023Q1 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
400000 usd
CY2022Q4 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
400000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19199000 usd
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
16116000 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
13443000 usd
CY2023Q1 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
400000 usd
CY2022Q4 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
400000 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
891510000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
678054000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
8207000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
2088000 usd
CY2023Q1 amps Debt Instrument Unamortized Deferred Financing Costs
DebtInstrumentUnamortizedDeferredFinancingCosts
15025000 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
891510000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
678054000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
8207000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
2088000 usd
CY2023Q1 amps Debt Instrument Unamortized Deferred Financing Costs
DebtInstrumentUnamortizedDeferredFinancingCosts
15025000 usd
CY2022Q4 amps Debt Instrument Unamortized Deferred Financing Costs
DebtInstrumentUnamortizedDeferredFinancingCosts
11404000 usd
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
32549000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
29959000 usd
CY2022Q4 amps Debt Instrument Unamortized Deferred Financing Costs
DebtInstrumentUnamortizedDeferredFinancingCosts
11404000 usd
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
32549000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
29959000 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
835729000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
634603000 usd
CY2023Q1 us-gaap Sale Leaseback Transaction Net Book Value
SaleLeasebackTransactionNetBookValue
43300000 usd
CY2023Q1 amps Sale Leaseback Transaction Deferred Transaction Cost
SaleLeasebackTransactionDeferredTransactionCost
1000000 usd
CY2022Q4 us-gaap Sale Leaseback Transaction Amount Due Under Financing Arrangement
SaleLeasebackTransactionAmountDueUnderFinancingArrangement
35600000 usd
CY2022 us-gaap Sale Leaseback Transaction Transaction Costs Financing Activities
SaleLeasebackTransactionTransactionCostsFinancingActivities
1100000 usd
CY2022Q1 amps Payment Of Financing Obligation
PaymentOfFinancingObligation
200000 usd
CY2023Q1 amps Payment Of Financing Obligation
PaymentOfFinancingObligation
200000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
400000 usd
CY2022Q1 us-gaap Interest Expense
InterestExpense
400000 usd
CY2023Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
600000 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
835729000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
634603000 usd
CY2023Q1 us-gaap Sale Leaseback Transaction Net Book Value
SaleLeasebackTransactionNetBookValue
43300000 usd
CY2023Q1 amps Sale Leaseback Transaction Deferred Transaction Cost
SaleLeasebackTransactionDeferredTransactionCost
1000000 usd
CY2022Q4 us-gaap Sale Leaseback Transaction Amount Due Under Financing Arrangement
SaleLeasebackTransactionAmountDueUnderFinancingArrangement
35600000 usd
CY2022 us-gaap Sale Leaseback Transaction Transaction Costs Financing Activities
SaleLeasebackTransactionTransactionCostsFinancingActivities
1100000 usd
CY2022Q1 amps Payment Of Financing Obligation
PaymentOfFinancingObligation
200000 usd
CY2023Q1 amps Payment Of Financing Obligation
PaymentOfFinancingObligation
200000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
400000 usd
CY2022Q1 us-gaap Interest Expense
InterestExpense
400000 usd
CY2023Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
500000 usd
CY2023Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
600000 usd
CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
100000 usd
CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
100000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
3023000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2995000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
2986000 usd
CY2023Q1 amps Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
17111000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
31931000 usd
CY2023Q1 us-gaap Investment Tax Credit
InvestmentTaxCredit
13200000 usd
CY2023Q1 amps Finance Lease Future Minimum Payments Interest Included In Payments
FinanceLeaseFutureMinimumPaymentsInterestIncludedInPayments
2300000 usd
CY2023Q1 amps Finance Lease Future Minimum Payments Difference Between Lease Payments And Fair Value Of Financing Lease Obligations Acquired
FinanceLeaseFutureMinimumPaymentsDifferenceBetweenLeasePaymentsAndFairValueOfFinancingLeaseObligationsAcquired
400000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
2795000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
3021000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
3023000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2995000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
2986000 usd
CY2023Q1 amps Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
17111000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
31931000 usd
CY2023Q1 us-gaap Investment Tax Credit
InvestmentTaxCredit
13200000 usd
CY2023Q1 amps Finance Lease Future Minimum Payments Interest Included In Payments
FinanceLeaseFutureMinimumPaymentsInterestIncludedInPayments
2300000 usd
CY2023Q1 amps Finance Lease Future Minimum Payments Difference Between Lease Payments And Fair Value Of Financing Lease Obligations Acquired
FinanceLeaseFutureMinimumPaymentsDifferenceBetweenLeasePaymentsAndFairValueOfFinancingLeaseObligationsAcquired
400000 usd
CY2023Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
2184000 usd
CY2023Q1 amps Alignment Shares Liability Fair Value Disclosure
AlignmentSharesLiabilityFairValueDisclosure
49116000 usd
CY2023Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
54005000 usd
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
105795000 usd
CY2022Q4 amps Alignment Shares Liability Fair Value Disclosure
AlignmentSharesLiabilityFairValueDisclosure
66145000 usd
CY2022Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
69020000 usd
CY2023Q1 amps Alignment Shares Outstanding Shares
AlignmentSharesOutstandingShares
1006250 shares
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AlignmentSharesOutstandingShares
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105795000 usd
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CY2022Q4 amps Alignment Shares Outstanding Shares
AlignmentSharesOutstandingShares
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AlignmentSharesOutstandingValue
66145000 usd
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AlignmentSharesOutstandingShares
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CY2021Q4 amps Alignment Shares Outstanding Value
AlignmentSharesOutstandingValue
127474000 usd
CY2023Q1 amps Alignment Shares Converted Shares
AlignmentSharesConvertedShares
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CY2023Q1 amps Alignment Shares Converted Value
AlignmentSharesConvertedValue
11000 usd
CY2023Q1 amps Alignment Shares Converted Shares
AlignmentSharesConvertedShares
201250 shares
CY2023Q1 amps Alignment Shares Converted Value
AlignmentSharesConvertedValue
11000 usd
CY2022Q1 amps Alignment Shares Converted Shares
AlignmentSharesConvertedShares
201250 shares
CY2022Q1 amps Alignment Shares Converted Value
AlignmentSharesConvertedValue
15000 usd
CY2023Q1 amps Alignment Shares Fair Value Remeasurement Shares
AlignmentSharesFairValueRemeasurementShares
0 shares
CY2023Q1 amps Income Loss Of Fair Value Adjustment Of Alignment Shares
IncomeLossOfFairValueAdjustmentOfAlignmentShares
17018000 usd
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AlignmentSharesFairValueRemeasurementShares
0 shares
CY2022Q1 amps Income Loss Of Fair Value Adjustment Of Alignment Shares
IncomeLossOfFairValueAdjustmentOfAlignmentShares
46346000 usd
CY2023Q1 amps Alignment Shares Outstanding Shares
AlignmentSharesOutstandingShares
1006250 shares
CY2022Q1 amps Alignment Shares Outstanding Shares
AlignmentSharesOutstandingShares
1207500 shares
CY2022Q1 amps Alignment Shares Outstanding Value
AlignmentSharesOutstandingValue
81113000 usd
CY2021 amps Class Of Warrants Or Rights Warrants Exchanged
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47600000 usd
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18500000 usd
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AlignmentSharesConvertedShares
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CY2022Q1 amps Alignment Shares Converted Value
AlignmentSharesConvertedValue
15000 usd
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AlignmentSharesFairValueRemeasurementShares
0 shares
CY2023Q1 amps Income Loss Of Fair Value Adjustment Of Alignment Shares
IncomeLossOfFairValueAdjustmentOfAlignmentShares
17018000 usd
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AlignmentSharesFairValueRemeasurementShares
0 shares
CY2022Q1 amps Income Loss Of Fair Value Adjustment Of Alignment Shares
IncomeLossOfFairValueAdjustmentOfAlignmentShares
46346000 usd
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AlignmentSharesOutstandingShares
1006250 shares
CY2023Q1 amps Alignment Shares Outstanding Value
AlignmentSharesOutstandingValue
49116000 usd
CY2022Q1 amps Alignment Shares Outstanding Shares
AlignmentSharesOutstandingShares
1207500 shares
CY2022Q1 amps Alignment Shares Outstanding Value
AlignmentSharesOutstandingValue
81113000 usd
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18133000 usd
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15527000 usd
CY2023Q1 amps Proceeds From Noncontrolling Interest Redeemable
ProceedsFromNoncontrollingInterestRedeemable
576000 usd
CY2022Q1 amps Proceeds From Noncontrolling Interest Redeemable
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238000 usd
CY2022Q1 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
0 usd
CY2022Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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18133000 usd
CY2021Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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15527000 usd
CY2023Q1 amps Proceeds From Noncontrolling Interest Redeemable
ProceedsFromNoncontrollingInterestRedeemable
576000 usd
CY2022Q1 amps Proceeds From Noncontrolling Interest Redeemable
ProceedsFromNoncontrollingInterestRedeemable
238000 usd
CY2023Q1 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-2175000 usd
CY2022Q1 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
0 usd
CY2023Q1 amps Noncontrolling Interest Increase From Business Combination Redeemable
NoncontrollingInterestIncreaseFromBusinessCombinationRedeemable
8100000 usd
CY2022Q1 amps Noncontrolling Interest Increase From Business Combination Redeemable
NoncontrollingInterestIncreaseFromBusinessCombinationRedeemable
0 usd
CY2023Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
861000 usd
CY2022Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
118000 usd
CY2022Q1 amps Noncontrolling Interest Increase From Business Combination Redeemable
NoncontrollingInterestIncreaseFromBusinessCombinationRedeemable
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CY2023Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
861000 usd
CY2022Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
118000 usd
CY2023Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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24343000 usd
CY2022Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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15407000 usd
CY2023Q1 us-gaap Operating Lease Cost
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2391000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1636000 usd
CY2023Q1 us-gaap Variable Lease Cost
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357000 usd
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
128000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
2748000 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
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CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P18Y6M
CY2023Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
24343000 usd
CY2022Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
15407000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2391000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1636000 usd
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
357000 usd
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
128000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
2748000 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
1764000 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1245000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
32722000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P22Y
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2238000 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1245000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
32722000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P22Y
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0515
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
10680000 usd
CY2023Q1 amps Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
183670000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
234389000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
101076000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
133313000 usd
CY2023Q1 us-gaap Purchase Obligation
PurchaseObligation
11000000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0515
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0407
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
7754000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
10678000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
10680000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
10773000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
10834000 usd
CY2023Q1 amps Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
183670000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
234389000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
101076000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5581000 usd
CY2023Q1 amps Guarantor Term Obligations
GuarantorTermObligations
P15Y
CY2023Q1 us-gaap Purchase Obligation
PurchaseObligation
11000000 usd
CY2022Q4 us-gaap Purchase Obligation
PurchaseObligation
29500000 usd
CY2023Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
200000 usd
CY2022Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
100000 usd
CY2023Q1 us-gaap Due From Related Parties
DueFromRelatedParties
0 usd
CY2022Q4 us-gaap Due From Related Parties
DueFromRelatedParties
0 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
5617000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
60419000 usd
CY2023Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
36000 usd
CY2022Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
558000 usd
CY2022Q4 us-gaap Purchase Obligation
PurchaseObligation
29500000 usd
CY2023Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
200000 usd
CY2022Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
100000 usd
CY2023Q1 us-gaap Due From Related Parties
DueFromRelatedParties
0 usd
CY2022Q4 us-gaap Due From Related Parties
DueFromRelatedParties
0 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
5617000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
60419000 usd
CY2023Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
36000 usd
CY2022Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
558000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5581000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
5581000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
59861000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
59861000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
158621674 shares
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
5581000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
59861000 usd
CY2023Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
2011 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
153586538 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
CY2022Q1 amps Alignment Shares Outstanding Shares
AlignmentSharesOutstandingShares
1207500 shares
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2900000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1300000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
900000 usd
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
152662512 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
2011 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
2011 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
161003402 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
153586538 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
CY2023Q1 amps Alignment Shares Outstanding Shares
AlignmentSharesOutstandingShares
1006250 shares
CY2022Q1 amps Alignment Shares Outstanding Shares
AlignmentSharesOutstandingShares
1207500 shares
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2900000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1300000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-100000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
900000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-100000 usd

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amps-20230331.htm Edgar Link pending
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amps-20230331x10qexh32.htm Edgar Link pending
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amps-20230331_lab.xml Edgar Link unprocessable
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