2023 Q1 Form 10-K Financial Statement

#000156319023000038 Filed on March 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $957.2M $1.107B $6.018B
YoY Change -31.48% -31.32% -6.28%
Cost Of Revenue $790.9M $918.8M $4.936B
YoY Change -31.01% -31.8% -7.05%
Gross Profit $166.3M $188.4M $1.082B
YoY Change -33.64% -28.85% -2.58%
Gross Profit Margin 17.37% 17.02% 17.98%
Selling, General & Admin $230.8M $244.9M $1.165B
YoY Change -23.35% -19.09% 3.23%
% of Gross Profit 138.79% 129.99% 107.69%
Research & Development $48.90M $63.40M $360.3M
YoY Change -54.81% -39.91% -1.37%
% of Gross Profit 29.4% 33.65% 33.3%
Depreciation & Amortization $24.90M $21.20M $86.30M
YoY Change 33.16% 9.84% 34.01%
% of Gross Profit 14.97% 11.25% 7.98%
Operating Expenses $1.106B $329.5M $6.607B
YoY Change -30.14% -22.92% 324.01%
Operating Profit -$148.4M -$141.1M -$589.4M
YoY Change -20.0% -13.28% 31.62%
Interest Expense $3.200M $0.00 $3.600M
YoY Change 357.14% -100.0% -256.52%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$148.7M -$152.8M -$602.4M
YoY Change -20.1% -11.52% 21.62%
Income Tax $0.00 $500.0K -$900.0K
% Of Pretax Income
Net Earnings -$150.4M -$158.1M -$601.5M
YoY Change -20.0% -9.55% 21.74%
Net Earnings / Revenue -15.71% -14.28% -10.0%
Basic Earnings Per Share -$0.33 -$1.40
Diluted Earnings Per Share -$0.33 -$0.36 -$1.40
COMMON SHARES
Basic Shares Outstanding 455.7M shares 435.5M shares 428.2M shares
Diluted Shares Outstanding 450.1M shares 428.2M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $363.6M $361.9M $361.9M
YoY Change -23.6% -41.47% -41.47%
Cash & Equivalents $363.6M $361.9M $361.9M
Short-Term Investments
Other Short-Term Assets $72.60M $76.50M $76.50M
YoY Change -30.59% -19.39% -19.39%
Inventory
Prepaid Expenses
Receivables $56.70M $36.60M $79.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $533.8M $517.9M $517.9M
YoY Change -23.07% -34.82% -34.82%
LONG-TERM ASSETS
Property, Plant & Equipment $181.1M $192.5M $675.7M
YoY Change 4.68% 22.3% 5.23%
Goodwill $203.7M $198.4M
YoY Change 7.55% 5.36%
Intangibles $94.70M $99.30M
YoY Change -20.75% -21.93%
Long-Term Investments
YoY Change
Other Assets $34.70M $41.80M $41.80M
YoY Change -34.16% -13.64% -13.64%
Total Long-Term Assets $980.1M $1.015B $1.015B
YoY Change -5.08% 0.91% 0.91%
TOTAL ASSETS
Total Short-Term Assets $533.8M $517.9M $517.9M
Total Long-Term Assets $980.1M $1.015B $1.015B
Total Assets $1.514B $1.533B $1.533B
YoY Change -12.31% -14.86% -14.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.80M $28.10M $28.10M
YoY Change -40.6% -18.79% -18.79%
Accrued Expenses $236.9M $259.5M $176.7M
YoY Change -11.97% -19.51% -31.33%
Deferred Revenue
YoY Change
Short-Term Debt $254.3M $181.9M $181.9M
YoY Change 1289.62% 1022.84% 1022.84%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $569.9M $517.5M $517.5M
YoY Change 41.34% 18.39% 18.39%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $15.20M $8.400M $494.9M
YoY Change -24.75% -74.47% -4.07%
Total Long-Term Liabilities $15.20M $8.400M $494.9M
YoY Change -24.75% -74.47% -4.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $569.9M $517.5M $517.5M
Total Long-Term Liabilities $15.20M $8.400M $494.9M
Total Liabilities $1.052B $1.012B $1.016B
YoY Change 14.25% 6.23% 6.19%
SHAREHOLDERS EQUITY
Retained Earnings -$2.347B -$2.197B
YoY Change 31.63% 37.71%
Common Stock $2.805B $2.714B
YoY Change 8.51% 11.27%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $458.1M $517.1M $517.1M
YoY Change
Total Liabilities & Shareholders Equity $1.514B $1.533B $1.533B
YoY Change -12.31% -14.86% -14.86%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$150.4M -$158.1M -$601.5M
YoY Change -20.0% -9.55% 21.74%
Depreciation, Depletion And Amortization $24.90M $21.20M $86.30M
YoY Change 33.16% 9.84% 34.01%
Cash From Operating Activities -$55.50M -$117.8M -$291.7M
YoY Change -50.0% 53.19% 919.93%
INVESTING ACTIVITIES
Capital Expenditures $3.500M $13.20M $70.10M
YoY Change -83.17% -180.0% -239.92%
Acquisitions $0.00 $15.00M
YoY Change -100.0% -89.08%
Other Investing Activities $0.00 $0.00 -$30.00M
YoY Change -100.0% -100.0% -78.93%
Cash From Investing Activities -$3.500M -$13.20M -$100.1M
YoY Change -88.18% -58.23% -48.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $60.70M 138.0M $135.4M
YoY Change -3472.22% -313.62% -66.09%
NET CHANGE
Cash From Operating Activities -$55.50M -117.8M -$291.7M
Cash From Investing Activities -$3.500M -13.20M -$100.1M
Cash From Financing Activities $60.70M 138.0M $135.4M
Net Change In Cash $1.700M 7.000M -$256.4M
YoY Change -101.19% -104.04% -243.88%
FREE CASH FLOW
Cash From Operating Activities -$55.50M -$117.8M -$291.7M
Capital Expenditures $3.500M $13.20M $70.10M
Free Cash Flow -$59.00M -$131.0M -$361.8M
YoY Change -55.24% 116.89% -1782.79%

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CY2022 comp Conversion Of Convertible Preferred Stock In Connection With Initial Public Offering
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CY2022 us-gaap Nature Of Operations
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Business<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%">Description of the Business </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%">Compass, Inc. (the “Company”) was incorporated in Delaware on October 4, 2012 under the name Urban Compass, Inc. On January 8, 2021, the board of directors approved a change to the Company’s name from Urban Compass, Inc. to Compass, Inc.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company provides an end-to-end platform that empowers its residential real estate agents to deliver exceptional service to seller and buyer clients. The Company’s platform includes an integrated suite of cloud-based software for customer relationship management, marketing, client service and other critical functionality, all custom-built for the real estate industry which enables the Company’s core brokerage services. The platform also uses proprietary data, analytics, artificial intelligence, and machine learning to deliver high value recommendations and outcomes for Compass agents and their clients. </span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s agents are independent contractors who affiliate their real estate licenses with the Company, operating their businesses on the Company’s platform and under the Compass brand. The Company generates revenue from clients through its agents by assisting home sellers and buyers in listing, marketing, selling and finding homes as well as through the provision of services adjacent to the transaction, like title and escrow services, which comprise a smaller portion of the Company’s revenue to date. The Company currently generates substantially all of its revenue from commissions paid by clients at the time that a home is transacted. </span></div><div style="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%">Stock Split</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%">In March 2021, the Company’s board of directors and the stockholders of the Company approved a ten-for-one forward stock split of the Company’s common stock and convertible preferred stock (collectively, the “Capital Stock”), which became effective on March 19, 2021. The authorized number of each class and series of Capital Stock was proportionally increased in accordance with the ten-for-one stock split and the par value of each class of Capital Stock was adjusted from $0.0001 to $0.00001 as a result of this forward stock split. All common stock, convertible preferred stock, stock options, restricted stock units (“RSUs”) and per share information presented within these consolidated financial statements have been adjusted to reflect this forward stock split on a retroactive basis for all periods presented. </span></div><div style="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%">Initial Public Offering </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%">On April 6, 2021, the Company completed its initial public offering (“IPO”) and the Company’s Class A common stock began trading on the New York Stock Exchange on April 1, 2021 under the symbol “COMP”. In connection with the IPO, the Company issued and sold 26.3 million shares of its common stock at a public offering price of $18.00 per share. The Company received aggregate proceeds of $438.7 million from the IPO, net of the underwriting discount and offering costs of approximately $11.0 million (of which $0.9 million were paid in 2020). Offering costs, including the legal, accounting, printing and other IPO-related costs have been recorded in Additional paid-in capital against the proceeds from the offering. During April 2021, also in connection with the IPO, all series of the Company’s convertible preferred stock then outstanding were converted into 223.0 million shares of common stock and the Company reclassified $1.4 billion of convertible preferred stock to Additional paid-in-capital.</span></div>
CY2022 dei Entity Incorporation Date Of Incorporation
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2012-10-04
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CY2022 us-gaap Use Of Estimates
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Use of EstimatesThe preparation of consolidated financial statements in conformity with GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting periods covered by the consolidated financial statements and accompanying notes. These judgments, estimates and assumptions are used for, but not limited to (i) valuation of the Company’s common stock and stock awards, (ii) fair value of acquired intangible assets and goodwill, (iii) fair value of contingent consideration arrangements in connection with business combinations, (iv) incremental borrowing rate used for the Company’s operating leases, (v) useful lives of long-lived assets, (vi) impairment of intangible assets and goodwill, (vii) allowance for Compass Concierge receivables and (viii) income taxes and certain deferred tax assets. The Company determines its estimates and judgments on historical experience and on various other assumptions that it believes are reasonable under the circumstances. However, actual results could differ from these estimates and these differences may be material.
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CY2021Q4 comp Number Of Small Real Estate Brokerages
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CY2021 comp Business Combination Contingent Consideration Acquisitions During The Period
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CY2021 comp Payment Of Contingent Consideration In Cash And Issuance Of Shares
PaymentOfContingentConsiderationInCashAndIssuanceOfShares
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CY2020 comp Payment Of Contingent Consideration In Cash And Issuance Of Shares
PaymentOfContingentConsiderationInCashAndIssuanceOfShares
-5500000 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
14000000.0 usd
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
24400000 usd
CY2020Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
39800000 usd
CY2022Q4 comp Business Combination Future Compensation To Be Paid To The Acquires
BusinessCombinationFutureCompensationToBePaidToTheAcquires
21900000 usd
CY2022 comp Business Acquisition Compensation Expense Future Services
BusinessAcquisitionCompensationExpenseFutureServices
13400000 usd
CY2021 comp Business Acquisition Compensation Expense Future Services
BusinessAcquisitionCompensationExpenseFutureServices
28600000 usd
CY2020 comp Business Acquisition Compensation Expense Future Services
BusinessAcquisitionCompensationExpenseFutureServices
4200000 usd
CY2022 comp Number Of Shares Granted Under Share Based Arrangement
NumberOfSharesGrantedUnderShareBasedArrangement
900000 shares
CY2021 comp Number Of Shares Granted Under Share Based Arrangement
NumberOfSharesGrantedUnderShareBasedArrangement
300000 shares
CY2020 comp Number Of Shares Granted Under Share Based Arrangement
NumberOfSharesGrantedUnderShareBasedArrangement
200000 shares
CY2022 comp Business Acquisition Compensation Expense
BusinessAcquisitionCompensationExpense
2000000 usd
CY2021 comp Business Acquisition Compensation Expense
BusinessAcquisitionCompensationExpense
1100000 usd
CY2020 comp Business Acquisition Compensation Expense
BusinessAcquisitionCompensationExpense
0 usd
CY2022 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
15000000 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
10000000.0 usd
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
12900000 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
4000000.0 usd
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
11500000 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
14000000.0 usd
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
24400000 usd
CY2021 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
68500000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
299600000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
242400000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
107100000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
85000000.0 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
192500000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
157400000 usd
CY2022 us-gaap Depreciation
Depreciation
48200000 usd
CY2021 us-gaap Depreciation
Depreciation
38500000 usd
CY2020 us-gaap Depreciation
Depreciation
34400000 usd
CY2020Q4 us-gaap Goodwill
Goodwill
119800000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
188300000 usd
CY2022 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
8800000 usd
CY2022 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
1300000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
198400000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
174000000.0 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
74700000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
99300000 usd
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
181800000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
54600000 usd
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
127200000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
38100000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
25900000 usd
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
16800000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
31600000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
29100000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
22700000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
10200000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
3900000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
1500000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
99000000.0 usd
CY2022Q4 comp Other Assets Prepaid Agent Incentives Current
OtherAssetsPrepaidAgentIncentivesCurrent
48400000 usd
CY2021Q4 comp Other Assets Prepaid Agent Incentives Current
OtherAssetsPrepaidAgentIncentivesCurrent
52700000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
28100000 usd
CY2021Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
42200000 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
76500000 usd
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
94900000 usd
CY2022Q4 us-gaap Deferred Compensation Share Based Arrangements Liability Current
DeferredCompensationShareBasedArrangementsLiabilityCurrent
41700000 usd
CY2021Q4 us-gaap Deferred Compensation Share Based Arrangements Liability Current
DeferredCompensationShareBasedArrangementsLiabilityCurrent
84800000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
50400000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
67400000 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
72800000 usd
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
88700000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
164900000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
240900000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
113700000 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
102300000 usd
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
93100000 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
7300000 usd
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
7200000 usd
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
5700000 usd
CY2022 us-gaap Sublease Income
SubleaseIncome
3700000 usd
CY2021 us-gaap Sublease Income
SubleaseIncome
3200000 usd
CY2020 us-gaap Sublease Income
SubleaseIncome
3400000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
35400000 usd
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
29000000.0 usd
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
26400000 usd
CY2022 us-gaap Lease Cost
LeaseCost
152700000 usd
CY2021 us-gaap Lease Cost
LeaseCost
135300000 usd
CY2020 us-gaap Lease Cost
LeaseCost
121800000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
118800000 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
106300000 usd
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
92000000.0 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
94700000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
137100000 usd
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
66300000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y6M
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.046
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.042
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
118900000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
116200000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
100800000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
88700000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
74400000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
178700000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
677700000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
96600000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
581100000 usd
CY2022Q4 comp Lessee Operating Lease Lease Not Yet Commenced Undiscounted Amount
LesseeOperatingLeaseLeaseNotYetCommencedUndiscountedAmount
11200000 usd
CY2022Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
48000000 usd
CY2021Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
54500000 usd
CY2022Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
136700000 usd
CY2021Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
172100000 usd
CY2020Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
246430170 shares
CY2020Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
237047550 shares
CY2020Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
237047550 shares
CY2020Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
1489900000 usd
CY2020Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
1486700000 usd
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
13850000000 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
438098194 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
438098194 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
13850000000 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
409267751 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
409267751 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
54525539 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.30
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M6D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
221300000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
367555 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.73
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
4145127 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.14
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
4053730 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
6.95
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
46694237 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.44
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y10M24D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
8500000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
36739913 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.70
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y4M24D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
8500000 usd
CY2022Q4 us-gaap Share Price
SharePrice
2.33
CY2021Q4 us-gaap Share Price
SharePrice
9.09
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
20300000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
124100000 usd
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
9800000 usd
CY2022Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
100000 shares
CY2022 comp Early Exercise Of Stock Options Shares Issued
EarlyExerciseOfStockOptionsSharesIssued
0 shares
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
234500000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
386300000 usd
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
43200000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-610400000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-496500000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-272400000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
8000000.0 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-100000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
500000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-602400000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-496600000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-271900000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-602400000 usd
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-12200000 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-800000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 usd
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
3100000 usd
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1200000 usd
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
200000 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
3100000 usd
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1200000 usd
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-600000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-900000 usd
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-2100000 usd
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-300000 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-300000 usd
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-400000 usd
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-600000 usd
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-2800000 usd
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-1200000 usd
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-200000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-4000000.0 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-3700000 usd
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1100000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-900000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2500000 usd
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1700000 usd
CY2022Q4 comp Deferred Tax Assets Lease Liabilities
DeferredTaxAssetsLeaseLiabilities
161200000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.070
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.088
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.040
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.250
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.342
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.234
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.024
CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.079
CY2020 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.000
CY2022 comp Effective Income Tax Rate Reconciliation Nondeductible Expense Executive Compensation
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseExecutiveCompensation
-0.006
CY2021 comp Effective Income Tax Rate Reconciliation Nondeductible Expense Executive Compensation
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseExecutiveCompensation
-0.028
CY2020 comp Effective Income Tax Rate Reconciliation Nondeductible Expense Executive Compensation
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseExecutiveCompensation
0.000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.004
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.001
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.021
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.006
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.003
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
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56200000 usd

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