2022 Q4 Form 10-Q Financial Statement

#000162828022029073 Filed on November 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $48.85M $50.34M
YoY Change -33.36% -29.8%
Cost Of Revenue $39.74M $38.42M
YoY Change -23.53% -27.99%
Gross Profit $9.107M $11.92M
YoY Change -57.3% -35.05%
Gross Profit Margin 18.64% 23.69%
Selling, General & Admin $12.96M $12.73M
YoY Change -32.34% -25.13%
% of Gross Profit 142.33% 106.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.24M $26.66M
YoY Change -22.22% -25.58%
% of Gross Profit 299.07% 223.54%
Operating Expenses $16.54M $16.59M
YoY Change -26.52% -20.94%
Operating Profit -$7.431M -$4.666M
YoY Change 531.35% 77.75%
Interest Expense -$7.865M $4.018M
YoY Change 95.5% -3.78%
% of Operating Profit
Other Income/Expense, Net $646.0K $381.0K
YoY Change -94.8% -98.22%
Pretax Income -$14.65M -$8.080M
YoY Change -303.11% -155.54%
Income Tax -$223.0K $73.00K
% Of Pretax Income
Net Earnings -$14.43M -$8.153M
YoY Change -292.9% -159.34%
Net Earnings / Revenue -29.54% -16.2%
Basic Earnings Per Share -$0.08
Diluted Earnings Per Share -$0.15 -$0.08
COMMON SHARES
Basic Shares Outstanding 98.45M shares 98.38M shares
Diluted Shares Outstanding 98.40M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.43M $77.16M
YoY Change -29.26% -22.63%
Cash & Equivalents $65.43M $77.16M
Short-Term Investments
Other Short-Term Assets $63.20M $51.24M
YoY Change -9.63% -30.22%
Inventory
Prepaid Expenses
Receivables $0.00 $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $128.6M $128.4M
YoY Change -21.77% -26.66%
LONG-TERM ASSETS
Property, Plant & Equipment $1.329M $1.468M
YoY Change 130.73% 194.19%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $91.00K $91.00K
YoY Change 0.0% 0.0%
Total Long-Term Assets $3.267M $3.453M
YoY Change 89.61% 157.11%
TOTAL ASSETS
Total Short-Term Assets $128.6M $128.4M
Total Long-Term Assets $3.267M $3.453M
Total Assets $131.9M $131.9M
YoY Change -20.62% -25.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.264M $2.901M
YoY Change -37.7% 23.03%
Accrued Expenses $14.53M $11.97M
YoY Change 21.52% 2.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $25.00M
YoY Change
Total Short-Term Liabilities $42.73M $16.79M
YoY Change 165.03% 2.32%
LONG-TERM LIABILITIES
Long-Term Debt $80.70M $93.08M
YoY Change -20.81% -13.11%
Other Long-Term Liabilities $902.0K $1.548M
YoY Change -87.71% -92.16%
Total Long-Term Liabilities $902.0K $1.548M
YoY Change -87.71% -92.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.73M $16.79M
Total Long-Term Liabilities $902.0K $1.548M
Total Liabilities $124.8M $111.9M
YoY Change -0.47% -21.89%
SHAREHOLDERS EQUITY
Retained Earnings -$76.68M -$62.25M
YoY Change 108.12% 40.45%
Common Stock $10.00K $10.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.128M $19.92M
YoY Change
Total Liabilities & Shareholders Equity $131.9M $131.9M
YoY Change -20.62% -25.26%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$14.43M -$8.153M
YoY Change -292.9% -159.34%
Depreciation, Depletion And Amortization $27.24M $26.66M
YoY Change -22.22% -25.58%
Cash From Operating Activities -$19.31M $223.0K
YoY Change 3264.46% -105.08%
INVESTING ACTIVITIES
Capital Expenditures $138.0K -$369.0K
YoY Change -128.45% 11.82%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$138.0K -$369.0K
YoY Change -71.55% 11.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.717M -5.534M
YoY Change -241.49% 16.26%
NET CHANGE
Cash From Operating Activities -19.31M 223.0K
Cash From Investing Activities -138.0K -369.0K
Cash From Financing Activities 7.717M -5.534M
Net Change In Cash -11.73M -5.680M
YoY Change 80.15% -40.06%
FREE CASH FLOW
Cash From Operating Activities -$19.31M $223.0K
Capital Expenditures $138.0K -$369.0K
Free Cash Flow -$19.45M $592.0K
YoY Change 21753.93% -114.6%

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AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12862000 usd
kplt Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
13102000 usd
us-gaap Net Income Loss
NetIncomeLoss
13727000 usd
CY2021Q3 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0 shares
CY2021Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
33114000 usd
CY2022Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0 shares
CY2022Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
26308000 usd
CY2022Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5000 usd
CY2022Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
49000 usd
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1807000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-8153000 usd
CY2022Q3 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0 shares
CY2022Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
19918000 usd
CY2021Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0 shares
CY2021Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
16091000 usd
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
186000 usd
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3097000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
13740000 usd
CY2021Q3 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0 shares
CY2021Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
33114000 usd
us-gaap Net Income Loss
NetIncomeLoss
-23444000 usd
us-gaap Net Income Loss
NetIncomeLoss
13727000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
89093000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
108977000 usd
kplt Property Subject To Or Available For Operating Lease Property Buyouts Net Lessor Asset Under Operating Lease
PropertySubjectToOrAvailableForOperatingLeasePropertyBuyoutsNetLessorAssetUnderOperatingLease
24783000 usd
kplt Property Subject To Or Available For Operating Lease Property Buyouts Net Lessor Asset Under Operating Lease
PropertySubjectToOrAvailableForOperatingLeasePropertyBuyoutsNetLessorAssetUnderOperatingLease
34530000 usd
kplt Property Subject To Or Available For Operating Lease Impairment Charge
PropertySubjectToOrAvailableForOperatingLeaseImpairmentCharge
11928000 usd
kplt Property Subject To Or Available For Operating Lease Impairment Charge
PropertySubjectToOrAvailableForOperatingLeaseImpairmentCharge
11115000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
18849000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-5793000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-24160000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4753000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
12862000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1130000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
2068000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
271000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
268000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
1508000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
1153000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
271000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
0 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
19123000 usd
kplt Increase Decrease In Property Held For Lease
IncreaseDecreaseInPropertyHeldForLease
105741000 usd
kplt Increase Decrease In Property Held For Lease
IncreaseDecreaseInPropertyHeldForLease
152811000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
382000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3820000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
872000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
674000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
159000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1238000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-306000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-638000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-331000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1536000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2740000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
164000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
267000 usd
us-gaap Payments For Software
PaymentsForSoftware
1203000 usd
us-gaap Payments For Software
PaymentsForSoftware
684000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1367000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-951000 usd
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
21661000 usd
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
12895000 usd
kplt Principal Advances From Line Of Credit Net Of Issuance Costs
PrincipalAdvancesFromLineOfCreditNetOfIssuanceCosts
9935000 usd
kplt Principal Advances From Line Of Credit Net Of Issuance Costs
PrincipalAdvancesFromLineOfCreditNetOfIssuanceCosts
5809000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
293000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
65000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
629000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
150000000 usd
kplt Cash Acquired Through Reverse Recapitalization
CashAcquiredThroughReverseRecapitalization
0 usd
kplt Cash Acquired Through Reverse Recapitalization
CashAcquiredThroughReverseRecapitalization
251109000 usd
kplt Reverse Recapitalization Cash Paid To Shareholders
ReverseRecapitalizationCashPaidToShareholders
0 usd
kplt Reverse Recapitalization Cash Paid To Shareholders
ReverseRecapitalizationCashPaidToShareholders
329560000 usd
kplt Payments Of Reverse Recapitalization Transaction Costs
PaymentsOfReverseRecapitalizationTransactionCosts
0 usd
kplt Payments Of Reverse Recapitalization Transaction Costs
PaymentsOfReverseRecapitalizationTransactionCosts
33534000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-11954000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
31558000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-14857000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
33347000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
96431000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69597000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
81574000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
102944000 usd
us-gaap Interest Paid Net
InterestPaidNet
7954000 usd
us-gaap Interest Paid Net
InterestPaidNet
8801000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
362000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1139000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
382000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
0 usd
kplt Reverse Recapitalization Assumed Warrant Liability
ReverseRecapitalizationAssumedWarrantLiability
0 usd
kplt Reverse Recapitalization Assumed Warrant Liability
ReverseRecapitalizationAssumedWarrantLiability
44272000 usd
CY2022Q3 kplt Capitalized Computer Software Not Yet Placed In Service
CapitalizedComputerSoftwareNotYetPlacedInService
440000 usd
kplt Warrants Exercised Liability
WarrantsExercisedLiability
0 usd
kplt Warrants Exercised Liability
WarrantsExercisedLiability
13102000 usd
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Use of Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">— The preparation of the condensed consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of income and expense during the reporting period. The most significant estimates relate to the selection of useful lives of property and equipment, the selection of useful lives for property held for lease and the related depreciation method, </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">determination of fair value of stock option grants, the fair value of the private warrants, and the valua</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">tion allowance associated with deferred tax assets. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from those estimates.</span>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
96431000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69597000 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
77162000 usd
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
99731000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
92494000 usd
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
65622000 usd
CY2022Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
4412000 usd
CY2021Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
3213000 usd
CY2021Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
3937000 usd
CY2020Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
3975000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
81574000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
102944000 usd
CY2021Q2 kplt Reverse Recapitalization Redemption
ReverseRecapitalizationRedemption
64000 usd
CY2021Q2 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
150000000 usd
CY2021Q2 kplt Reverse Recapitalization Cash Paid To Shareholders
ReverseRecapitalizationCashPaidToShareholders
329560000 usd
CY2021Q2 kplt Payments Of Reverse Recapitalization Transaction Costs
PaymentsOfReverseRecapitalizationTransactionCosts
33534000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2022Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2021Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Rental Revenue</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">— Property held for lease is leased to customers pursuant to lease purchase agreements with an initial term: typically one week, two weeks, or one month, with non-refundable lease payments. Generally, the customer has the right to acquire title either through a 90-day promotional pricing option, an early purchase option (buyout) available prior to completion of the full agreement, or by completing all lease renewal payments, generally 10 to 18 months. On any current lease, customers have the option to terminate the agreement at any time without penalty in accordance with lease term. Accordingly, lease purchase agreements are accounted for as operating leases with lease revenues recognized in the period they are earned and cash is collected. Amounts received from customers who elect early purchase options (buyouts) are included in rental revenue. Lease payments received prior to their due dates are deferred and recorded as unearned revenue and are recognized as rental revenue in the month in which the revenue is earned. Rental revenue also includes agreed-upon charges assessed to customer lease applications. Payments are received upon submission of the applications and execution of the lease purchase agreements. Services are considered to be rendered and revenue earned over the initial lease term. The Company also may assess fees for missed or late payments, which are recognized as revenue in the billing period in which they are assessed if collectability is reasonably assured. Revenues from leases are reported net of sales taxes.</span>
CY2022Q3 kplt Property Subject To Or Available For Operating Lease Lease Income
PropertySubjectToOrAvailableForOperatingLeaseLeaseIncome
1046000 usd
kplt Property Subject To Or Available For Operating Lease Lease Income
PropertySubjectToOrAvailableForOperatingLeaseLeaseIncome
3081000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q2 kplt Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
38015000 usd
CY2021Q2 kplt Reverse Recapitalization Warrant Liability
ReverseRecapitalizationWarrantLiability
44272000 usd
CY2021Q2 kplt Reverse Recapitalization Net
ReverseRecapitalizationNet
-6257000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2022Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Concentrations of Credit Risk</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">—Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company’s cash balances exceed those that are federally insured. To date, the Company has not recognized any losses caused by uninsured balances.</span>Significant customers are those which represent more than 10% of the Company’s total revenue or gross accounts receivable balance at each balance sheet date.
CY2022Q3 kplt Reverse Recapitalization Warrants Acquired
ReverseRecapitalizationWarrantsAcquired
12832500 shares
CY2021Q2 kplt Reverse Recapitalization Contingent Consideration Equity Shares
ReverseRecapitalizationContingentConsiderationEquityShares
7500000 shares
CY2022Q3 kplt Property Subject To Or Available For Operating Lease Gross Current
PropertySubjectToOrAvailableForOperatingLeaseGrossCurrent
254708000 usd
CY2021Q4 kplt Property Subject To Or Available For Operating Lease Gross Current
PropertySubjectToOrAvailableForOperatingLeaseGrossCurrent
220259000 usd
CY2022Q3 kplt Property Subject To Or Available For Operating Lease Accumulated Depreciation Current
PropertySubjectToOrAvailableForOperatingLeaseAccumulatedDepreciationCurrent
212513000 usd
CY2021Q4 kplt Property Subject To Or Available For Operating Lease Accumulated Depreciation Current
PropertySubjectToOrAvailableForOperatingLeaseAccumulatedDepreciationCurrent
158507000 usd
CY2022Q3 kplt Property Subject To Or Available For Operating Lease Net Current
PropertySubjectToOrAvailableForOperatingLeaseNetCurrent
42195000 usd
CY2021Q4 kplt Property Subject To Or Available For Operating Lease Net Current
PropertySubjectToOrAvailableForOperatingLeaseNetCurrent
61752000 usd
kplt Property Subject To Or Available For Operating Lease Depreciation
PropertySubjectToOrAvailableForOperatingLeaseDepreciation
88587000 usd
kplt Property Subject To Or Available For Operating Lease Depreciation
PropertySubjectToOrAvailableForOperatingLeaseDepreciation
108760000 usd
CY2022Q3 kplt Property Subject To Or Available For Operating Lease Property Buyouts Net Lessor Asset Under Operating Lease
PropertySubjectToOrAvailableForOperatingLeasePropertyBuyoutsNetLessorAssetUnderOperatingLease
5743000 usd
CY2021Q3 kplt Property Subject To Or Available For Operating Lease Property Buyouts Net Lessor Asset Under Operating Lease
PropertySubjectToOrAvailableForOperatingLeasePropertyBuyoutsNetLessorAssetUnderOperatingLease
11695000 usd
kplt Property Subject To Or Available For Operating Lease Property Buyouts Net Lessor Asset Under Operating Lease
PropertySubjectToOrAvailableForOperatingLeasePropertyBuyoutsNetLessorAssetUnderOperatingLease
24783000 usd
kplt Property Subject To Or Available For Operating Lease Property Buyouts Net Lessor Asset Under Operating Lease
PropertySubjectToOrAvailableForOperatingLeasePropertyBuyoutsNetLessorAssetUnderOperatingLease
34530000 usd
CY2022Q3 kplt Property Subject To Or Available For Operating Lease Impairment Charge
PropertySubjectToOrAvailableForOperatingLeaseImpairmentCharge
4438000 usd
CY2021Q3 kplt Property Subject To Or Available For Operating Lease Impairment Charge
PropertySubjectToOrAvailableForOperatingLeaseImpairmentCharge
3394000 usd
kplt Property Subject To Or Available For Operating Lease Impairment Charge
PropertySubjectToOrAvailableForOperatingLeaseImpairmentCharge
11928000 usd
kplt Property Subject To Or Available For Operating Lease Impairment Charge
PropertySubjectToOrAvailableForOperatingLeaseImpairmentCharge
11115000 usd
CY2022Q3 kplt Finite Lived Intangible Assets Gross Including Capitalized Software Not Yet Placed In Service
FiniteLivedIntangibleAssetsGrossIncludingCapitalizedSoftwareNotYetPlacedInService
2473000 usd
CY2022Q3 us-gaap Property Plant And Equipment Excluding Lessor Asset Under Operating Lease Before Accumulated Depreciation
PropertyPlantAndEquipmentExcludingLessorAssetUnderOperatingLeaseBeforeAccumulatedDepreciation
1240000 usd
CY2021Q4 us-gaap Property Plant And Equipment Excluding Lessor Asset Under Operating Lease Before Accumulated Depreciation
PropertyPlantAndEquipmentExcludingLessorAssetUnderOperatingLeaseBeforeAccumulatedDepreciation
1077000 usd
CY2022Q3 us-gaap Property Plant And Equipment Excluding Lessor Asset Under Operating Lease Accumulated Depreciation
PropertyPlantAndEquipmentExcludingLessorAssetUnderOperatingLeaseAccumulatedDepreciation
640000 usd
CY2021Q4 us-gaap Property Plant And Equipment Excluding Lessor Asset Under Operating Lease Accumulated Depreciation
PropertyPlantAndEquipmentExcludingLessorAssetUnderOperatingLeaseAccumulatedDepreciation
501000 usd
CY2022Q3 us-gaap Property Plant And Equipment Excluding Lessor Asset Under Operating Lease After Accumulated Depreciation
PropertyPlantAndEquipmentExcludingLessorAssetUnderOperatingLeaseAfterAccumulatedDepreciation
600000 usd
CY2021Q4 us-gaap Property Plant And Equipment Excluding Lessor Asset Under Operating Lease After Accumulated Depreciation
PropertyPlantAndEquipmentExcludingLessorAssetUnderOperatingLeaseAfterAccumulatedDepreciation
576000 usd
CY2022Q3 us-gaap Depreciation Excluding Lessor Asset Under Operating Lease
DepreciationExcludingLessorAssetUnderOperatingLease
47000 usd
CY2021Q3 us-gaap Depreciation Excluding Lessor Asset Under Operating Lease
DepreciationExcludingLessorAssetUnderOperatingLease
36000 usd
us-gaap Depreciation Excluding Lessor Asset Under Operating Lease
DepreciationExcludingLessorAssetUnderOperatingLease
140000 usd
us-gaap Depreciation Excluding Lessor Asset Under Operating Lease
DepreciationExcludingLessorAssetUnderOperatingLease
98000 usd
CY2021Q4 kplt Finite Lived Intangible Assets Gross Including Capitalized Software Not Yet Placed In Service
FiniteLivedIntangibleAssetsGrossIncludingCapitalizedSoftwareNotYetPlacedInService
1270000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
579000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
214000 usd
CY2022Q3 kplt Finite Lived Intangible Assets Net Including Capitalized Software Not Yet Placed In Service
FiniteLivedIntangibleAssetsNetIncludingCapitalizedSoftwareNotYetPlacedInService
1894000 usd
CY2021Q4 kplt Finite Lived Intangible Assets Net Including Capitalized Software Not Yet Placed In Service
FiniteLivedIntangibleAssetsNetIncludingCapitalizedSoftwareNotYetPlacedInService
1056000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
152000 usd
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
63000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
366000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
119000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
206000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
607000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
502000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
123000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1438000 usd
CY2022Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
1859000 usd
CY2021Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
1807000 usd
CY2022Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
5451000 usd
CY2021Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
5445000 usd
CY2022Q3 kplt Unfunded Lease Payable Current
UnfundedLeasePayableCurrent
2088000 usd
CY2021Q4 kplt Unfunded Lease Payable Current
UnfundedLeasePayableCurrent
2697000 usd
CY2022Q3 us-gaap Interest Payable Current
InterestPayableCurrent
103000 usd
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
91000 usd
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2471000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1919000 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
11972000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
11959000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
3.30
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
6004006 shares
kplt Share Based Compensation Arrangement By Share Based Payment Award Number Of Plans
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfPlans
2 plan
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
2115162 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
6.10
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
5625592 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.84
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
750823 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
6.27
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
985925 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
2.54
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1807000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3097000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4753000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12862000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
73000 usd
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
808000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
173000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
805000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-8153000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8153000 usd
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
13740000 usd
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13740000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-23444000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-23444000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
13727000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13727000 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98398769 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97082182 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98158426 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58826335 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2021Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
3867094 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
98398769 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
105605479 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
98158426 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72208593 shares
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27269885 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14565516 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27269885 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14565516 shares
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
129000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
456000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
334000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
170000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1089000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
155000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
934000 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
419000 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
515000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
934000 usd
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
134000 usd
CY2021Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
146000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
400000 usd
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
435000 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y4M24D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0925
CY2022Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
103404000 usd
CY2021Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
113622000 usd

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0001628280-22-029073.txt Edgar Link pending
0001628280-22-029073-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
kplt-20220930.htm Edgar Link pending
kplt-20220930.xsd Edgar Link pending
kpltex311093020222.htm Edgar Link pending
kpltex312093020222.htm Edgar Link pending
kpltex321093020222.htm Edgar Link pending
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kplt-20220930_lab.xml Edgar Link unprocessable
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