2023 Q1 Form 10-K Financial Statement

#000153097923000038 Filed on March 16, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $83.39M $81.86M $313.7M
YoY Change 21.35% 1.84% -1.57%
Cost Of Revenue $63.19M $59.35M $221.3M
YoY Change 31.39% 5.44% 5.67%
Gross Profit $20.20M $22.51M $92.32M
YoY Change -2.06% -6.58% -15.44%
Gross Profit Margin 24.23% 27.49% 29.43%
Selling, General & Admin $25.82M $33.91M $87.32M
YoY Change 31.65% 9.05% 3.88%
% of Gross Profit 127.79% 150.66% 94.59%
Research & Development $1.459M $1.353M $6.996M
YoY Change -30.39% -15.28% -8.89%
% of Gross Profit 7.22% 6.01% 7.58%
Depreciation & Amortization $668.0K $728.0K $2.753M
YoY Change -7.22% -27.99% -33.6%
% of Gross Profit 3.31% 3.23% 2.98%
Operating Expenses $38.86M $35.26M $142.1M
YoY Change 10.49% 7.86% -2.67%
Operating Profit -$18.66M -$12.76M -$49.78M
YoY Change 28.28% 48.31% 35.18%
Interest Expense -$189.0K $214.0K $871.0K
YoY Change 209.84% -151.69% -149.04%
% of Operating Profit
Other Income/Expense, Net -$189.0K $871.0K
YoY Change 209.84% -149.04%
Pretax Income -$18.85M -$12.54M -$48.91M
YoY Change 29.04% 39.12% 26.7%
Income Tax $20.00K $50.00K $110.0K
% Of Pretax Income
Net Earnings -$18.87M -$12.59M -$49.02M
YoY Change 29.0% 39.52% 26.73%
Net Earnings / Revenue -22.63% -15.38% -15.63%
Basic Earnings Per Share -$0.20 -$0.53
Diluted Earnings Per Share -$0.20 -$0.14 -$0.53
COMMON SHARES
Basic Shares Outstanding 93.35M shares 92.67M shares 92.20M shares
Diluted Shares Outstanding 93.11M shares 92.20M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.94M $15.17M $15.17M
YoY Change -84.72% -83.72% -83.72%
Cash & Equivalents $9.221M $9.517M $9.517M
Short-Term Investments $2.717M $5.650M $5.650M
Other Short-Term Assets $8.089M $15.98M $15.98M
YoY Change -21.88% 21.4% 21.4%
Inventory $98.47M $115.7M $115.7M
Prepaid Expenses
Receivables $45.23M $42.33M $42.33M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $163.7M $189.1M $189.1M
YoY Change -18.88% -11.53% -11.53%
LONG-TERM ASSETS
Property, Plant & Equipment $42.52M $44.27M $44.27M
YoY Change -14.1% -16.39% -16.39%
Goodwill $2.230M $2.230M
YoY Change 0.0% 0.0%
Intangibles $352.0K $370.0K
YoY Change -16.78% -15.91%
Long-Term Investments
YoY Change
Other Assets $4.610M $4.578M $4.578M
YoY Change 56.75% 44.01% 44.01%
Total Long-Term Assets $49.71M $51.45M $51.45M
YoY Change -9.77% -12.5% -12.5%
TOTAL ASSETS
Total Short-Term Assets $163.7M $189.1M $189.1M
Total Long-Term Assets $49.71M $51.45M $51.45M
Total Assets $213.4M $240.6M $240.6M
YoY Change -16.93% -11.74% -11.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.18M $24.76M $24.76M
YoY Change 4.85% -13.87% -13.87%
Accrued Expenses $27.02M $38.01M $37.96M
YoY Change -1.99% 100.02% 99.75%
Deferred Revenue $1.485M $815.0K
YoY Change 97.74% 11.49%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $49.00K $52.00K $52.00K
YoY Change -81.92%
Total Short-Term Liabilities $53.69M $63.58M $63.58M
YoY Change 2.58% 31.15% 31.15%
LONG-TERM LIABILITIES
Long-Term Debt $13.00K $22.00K $22.00K
YoY Change -78.69%
Other Long-Term Liabilities $615.0K $817.0K $30.64M
YoY Change 908.2% -89.09% -31.94%
Total Long-Term Liabilities $615.0K $817.0K $30.66M
YoY Change 908.2% -89.09% -31.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $53.69M $63.58M $63.58M
Total Long-Term Liabilities $615.0K $817.0K $30.66M
Total Liabilities $82.16M $94.24M $94.24M
YoY Change -6.68% 0.8% 0.8%
SHAREHOLDERS EQUITY
Retained Earnings -$458.7M -$439.8M
YoY Change 13.14% 12.3%
Common Stock $9.000K $9.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $131.3M $146.4M $146.4M
YoY Change
Total Liabilities & Shareholders Equity $213.4M $240.6M $240.6M
YoY Change -16.93% -11.74% -11.74%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$18.87M -$12.59M -$49.02M
YoY Change 29.0% 39.52% 26.73%
Depreciation, Depletion And Amortization $668.0K $728.0K $2.753M
YoY Change -7.22% -27.99% -33.6%
Cash From Operating Activities -$2.761M -$25.61M -$76.28M
YoY Change -81.22% 1326.52% 99.91%
INVESTING ACTIVITIES
Capital Expenditures $473.0K $184.0K $1.617M
YoY Change 97.08% -657.58% 635.0%
Acquisitions
YoY Change
Other Investing Activities $2.953M $11.14M $36.58M
YoY Change -66.63% -44.68% -535.32%
Cash From Investing Activities $2.480M $10.96M $34.96M
YoY Change -71.19% -45.51% -505.46%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change -100.0%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$15.00K 77.00K $38.00K
YoY Change -133.33% -98.4% -99.94%
NET CHANGE
Cash From Operating Activities -$2.761M -25.61M -$76.28M
Cash From Investing Activities $2.480M 10.96M $34.96M
Cash From Financing Activities -$15.00K 77.00K $38.00K
Net Change In Cash -$296.0K -14.57M -$41.27M
YoY Change -95.11% -163.01% -403.69%
FREE CASH FLOW
Cash From Operating Activities -$2.761M -$25.61M -$76.28M
Capital Expenditures $473.0K $184.0K $1.617M
Free Cash Flow -$3.234M -$25.79M -$77.89M
YoY Change -78.36% 1363.68% 102.98%

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Nature of Business<div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Honest Company, Inc. (the “Company”) was incorporated in the State of California on July 19, 2011 and on May 23, 2012 was re-incorporated in the State of Delaware under the same name. The Company is a digitally-native consumer products company born in the Gen Z era to make purpose-driven consumer products designed for all people. The Company sells its products through digital and retail sales channels in the following product categories: Diapers and Wipes, Skin and Personal Care, and Household and Wellness. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Initial Public Offering</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s registration statement on Form S-1 (“IPO Registration Statement”) related to its initial public offering (“IPO”) was declared effective on May 4, 2021, and the Company’s common stock began trading on the Nasdaq Global Select Market on May 5, 2021. On May 7, 2021, the Company completed its IPO of 25,807,000 shares of the Company's common stock, $0.0001 par value per share at an offering price of $16.00 per share. The Company sold 6,451,613 shares and certain existing stockholders sold an aggregate of 19,355,387 shares. The Company received aggregate net proceeds of approximately $91.0 million after deducting underwriting discounts and commissions of $6.7 million and other offering expenses of $5.5 million. The Company granted the underwriters an option for a period of 30 days to purchase up to an additional 3,871,050 shares of common stock from the selling stockholders at $16.00 per share less the underwriting discounts and commissions. In May 2021, the underwriters fully exercised the option to purchase these additional shares from the selling stockholders. The Company did not receive any proceeds from the sale of shares of its common stock by the selling stockholders.</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon completion of the IPO, the Company paid $9.5 million in cash bonuses to certain employees including members of management, as well as $0.2 million in related payroll taxes and expenses. Cash bonuses of $9.1 million were recorded in sales, general and administrative expenses and $0.4 million were recorded in research and development expenses in the accompanying consolidated statements of comprehensive loss upon completion of the IPO. </span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In April 2021, the Company's board of directors declared a cash dividend of $35.0 million to the holders of record of its common stock and its redeemable convertible preferred stock as of May 3, 2021, which the Company paid on June 29, 2021</span></div><div style="padding-left:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Immediately prior to the completion of the IPO, the Company filed an Amended and Restated Certificate of Incorporation, which authorized a total of 1,000,000,000 shares of common stock and 20,000,000 shares of preferred stock. Upon the filing of the Amended and Restated Certificate of Incorporation, 49,100,928 shares of the Company’s redeemable convertible preferred stock then outstanding with a carrying value of $376.4 million were automatically converted into 49,649,023 shares of the Company’s common stock. Upon completion of the IPO, the Company recognized a gain on extinguishment of the redeemable convertible preferred stock for earnings per share purposes of $29.0 million from the conversion of redeemable convertible preferred stock to common stock. Following the completion of the IPO, the Company has one class of authorized and outstanding common stock. See Note 10 "</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Redeemable Convertible Preferred Stock and Stockholders’ Deficit</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">" for more information on </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the Company’s redeemable convertible preferred stock as of December 31, 2020.</span></div>
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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">    </span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and contingent liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s estimates, which are subject to varying degrees of judgment, include the valuation of inventories, sales returns and allowances, allowances for doubtful accounts, valuation of short-term investments, capitalized software, useful lives associated with long-lived assets, incremental borrowing rates associated with leases, valuation allowances with respect to deferred tax assets, accruals and contingencies, recoverability of non-cash marketing credits, recoverability of goodwill and long-lived assets, and the valuation and assumptions underlying stock-based compensation and for the periods prior to the Company's IPO, the fair value of common stock. On an ongoing basis, the Company evaluates its estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities.</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the World Health Organization declared the outbreak of the novel coronavirus disease (“COVID-19”) a pandemic. The full extent to which the outbreak of the COVID-19 pandemic and any COVID-19 variants will impact the Company’s business, results of operations and financial condition is still unknown and will depend on future developments, which are uncertain and cannot be predicted, including, but not limited to, the duration and spread of the COVID-19 outbreak and its variants, their severity, the actions to contain the virus and its variants or treat their impact, and how quickly and to what extent normal economic and operating conditions can resume.</span></div>In light of the unknown ultimate duration and severity of COVID-19 and the impact of any COVID-19 variants, the Company faces a greater degree of uncertainty than normal in making certain judgments and estimates needed to apply significant accounting policies. The Company assessed certain accounting matters and estimates that generally require consideration of forecasted information in context with the information reasonably available to the Company as of December 31, 2022 and through the date these consolidated financial statements were issued. Management is not aware of any specific event or circumstance that would require an update to estimates or judgments or a revision to the carrying value of assets or liabilities. However, these estimates and judgments may change as new events occur and additional information is obtained, which may result in changes being recognized in the Company’s consolidated financial statements in future periods. For example, based on macro trends within our Household and Wellness product category, consumer demand for sanitizing and disinfecting products has decelerated at a more rapid than expected rate as more consumers are vaccinated and retailers continue to manage heavy inventories of sanitization and disinfecting products in stores. The Company recorded an inventory write-down, inclusive of overhead costs and tariffs, of $4.3 million and $5.6 million, during the year ended December 31, 2022 and 2021, respectively, relating to certain sanitization and disinfecting products as the amount of inventory was significantly in excess of the decreasing demand. Included in these inventory write-down is $1.0 million and $0.7 million of Company earmarked donations of excess sanitization products during the year ended December 31, 2022 and 2021, respectively, which is included in selling, general and administrative expense on the consolidated statements of comprehensive loss. The amount of excess sanitization products donated in future periods may differ from those earmarked for donations. The Company will continue to monitor and evaluate the uncertainty and volatility of these conditions, in particular, the impact on the amount and valuation of the Company’s inventory in the future.
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<div><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentrations</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to credit risk consist principally of cash, cash equivalents, short-term investments and accounts receivable. The Company places its cash with high credit quality financial institutions, which typically exceed federally insured limits. The Company invests its excess cash primarily in highly rated money market funds and short-term debt instruments, diversifies its investments and, by policy, invests only in highly rated securities to minimize credit risk.</span></div>
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CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
20000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
370000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
40154000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
80720000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
25827000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
27768000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
14327000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
52952000 usd
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
300000 usd
CY2021 us-gaap Capital Leases Income Statement Amortization Expense
CapitalLeasesIncomeStatementAmortizationExpense
400000 usd
CY2020 us-gaap Capital Leases Income Statement Amortization Expense
CapitalLeasesIncomeStatementAmortizationExpense
300000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
5700000 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
36400000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
0 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
6000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
5682000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
33000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Current
DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent
5650000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
42429000 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
6790000 usd
CY2021Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
2497000 usd
CY2022Q4 hnst Accrued Inventory Purchases
AccruedInventoryPurchases
17050000 usd
CY2021Q4 hnst Accrued Inventory Purchases
AccruedInventoryPurchases
8838000 usd
CY2022Q4 hnst Accrued Return Liabilities
AccruedReturnLiabilities
318000 usd
CY2021Q4 hnst Accrued Return Liabilities
AccruedReturnLiabilities
1455000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7688000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
6164000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
6213000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
38010000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
19003000 usd
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2021Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
49100928 shares
CY2021Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
376400000 usd
CY2021Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
49649023 shares
CY2021Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
29000000 usd
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
43556 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.81
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1508976 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.50
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
14888007 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.24
CY2020Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
49192248 shares
CY2020Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
49100928 shares
CY2020Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
49100928 shares
CY2020Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
376404000 usd
CY2020Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
396726000 usd
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
6176766 shares
CY2022Q4 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
3074000 usd
CY2022Q4 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
1979000 usd
CY2022Q4 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
496000 usd
CY2022Q4 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
0 usd
CY2022Q4 us-gaap Purchase Obligation Due In Fifth Year
PurchaseObligationDueInFifthYear
0 usd
CY2022Q4 us-gaap Purchase Obligation Due After Fifth Year
PurchaseObligationDueAfterFifthYear
0 usd
CY2022Q4 us-gaap Purchase Obligation
PurchaseObligation
5549000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
16440539 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.26
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y4M24D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
46589000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
3024000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
6000000 usd
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
300000 usd
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
2000000 usd
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
7900000 usd
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
7600000 usd
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1000000 usd
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
3900000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15078000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16847000 usd
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7905000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-49019000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-38679000 usd
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-14466000 usd
CY2022 hnst Gain Loss On Conversion Of Preferred Stock
GainLossOnConversionOfPreferredStock
0 usd
CY2021 hnst Gain Loss On Conversion Of Preferred Stock
GainLossOnConversionOfPreferredStock
28994000 usd
CY2020 hnst Gain Loss On Conversion Of Preferred Stock
GainLossOnConversionOfPreferredStock
0 usd
CY2022 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 usd
CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
20637000 usd
CY2020 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-49019000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-49019000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-30322000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-30322000 usd
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-14466000 usd
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
110000 usd
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
77000 usd
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14466000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-49019000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-30322000 usd
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-14466000 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92201806 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71126218 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34075572 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92201806 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
71126218 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34075572 shares
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.53
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.53
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.43
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.43
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.43
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.43
CY2021 hnst Gain Loss On Conversion Of Preferred Stock
GainLossOnConversionOfPreferredStock
29000000 usd
CY2021Q2 us-gaap Dividends Cash
DividendsCash
35000000 usd
CY2021Q2 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
20600000 usd
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19568799 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19450563 shares
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
67138970 shares
CY2021Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
49100928 shares
CY2021Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
376400000 usd
CY2021Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
49649023 shares
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
110000 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
77000 usd
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
89000 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0 usd
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0 usd
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
89000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0 usd
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 usd
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
110000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
77000 usd
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
89000 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-10271000 usd
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-8106000 usd
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-3019000 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-625000 usd
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-143000 usd
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
831000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
2604000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
5156000 usd
CY2020 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
2353000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
53000 usd
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
84000 usd
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
82000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
302000 usd
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
1349000 usd
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
0 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
8047000 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1737000 usd
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
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CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
110000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
77000 usd
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
89000 usd
CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
95000 usd
CY2021Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
122000 usd
CY2022Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
815000 usd
CY2021Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
653000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
2602000 usd
CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
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51000 usd
CY2021Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
13000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
2796000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
2915000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
8335000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
9592000 usd
CY2022Q4 hnst Deferred Tax Assets Deferred Expense Capitalized Research And Development Costs
DeferredTaxAssetsDeferredExpenseCapitalizedResearchAndDevelopmentCosts
1456000 usd
CY2021Q4 hnst Deferred Tax Assets Deferred Expense Capitalized Research And Development Costs
DeferredTaxAssetsDeferredExpenseCapitalizedResearchAndDevelopmentCosts
0 usd
CY2022Q4 hnst Deferred Tax Asset Operating Loss And Other Carryforwards
DeferredTaxAssetOperatingLossAndOtherCarryforwards
85176000 usd
CY2021Q4 hnst Deferred Tax Asset Operating Loss And Other Carryforwards
DeferredTaxAssetOperatingLossAndOtherCarryforwards
77548000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
99377000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
92792000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
94103000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
86659000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
5274000 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
6133000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Tax Deferred Income
DeferredTaxLiabilitiesTaxDeferredIncome
0 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Tax Deferred Income
DeferredTaxLiabilitiesTaxDeferredIncome
0 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
0 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
544000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
364000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
539000 usd
CY2022Q4 hnst Deferred Tax Liabilities State Taxes
DeferredTaxLiabilitiesStateTaxes
4910000 usd
CY2021Q4 hnst Deferred Tax Liabilities State Taxes
DeferredTaxLiabilitiesStateTaxes
5050000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
5274000 usd
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
6133000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
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