$LFLY
Leafly Holdings, Inc. /DE

2021 Q4 Form 10-K Financial Statement

#000162828022008014 Filed on March 31, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue $4.983M
YoY Change
Gross Profit $38.05M
YoY Change
Gross Profit Margin
Selling, General & Admin $34.78M
YoY Change
% of Gross Profit 91.4%
Research & Development $13.90M
YoY Change
% of Gross Profit 36.52%
Depreciation & Amortization $253.0K
YoY Change
% of Gross Profit 0.66%
Operating Expenses $1.746M $2.699M $148.3K
YoY Change 1077.36% 308.24% -12.75%
Operating Profit -$2.699M
YoY Change 308.24%
Interest Expense $1.770K $29.30K $34.42K
YoY Change -94.86% -96.29% -88.53%
% of Operating Profit
Other Income/Expense, Net $246.5K -$3.032M -$1.975M
YoY Change -112.48% 53.52%
Pretax Income -$1.498M -$5.702M -$2.089M
YoY Change -28.29% 208.74% -1706.97%
Income Tax $0.00 $0.00 -$23.92K
% Of Pretax Income
Net Earnings -$1.498M -$5.702M -$2.065M
YoY Change -27.46% 204.27% -2165.14%
Net Earnings / Revenue
Basic Earnings Per Share -$0.35
Diluted Earnings Per Share -$93.24K -$0.35 -$125.8K
COMMON SHARES
Basic Shares Outstanding 24.88M 16.37M shares
Diluted Shares Outstanding 24.88M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $119.4M $175.9K $130.9M
YoY Change -8.74% 2.54% 0.14%
Cash & Equivalents $28.57M $171.5K
Short-Term Investments $90.85M $130.7M
Other Short-Term Assets $156.0K $182.0K $99.74K
YoY Change 56.41% 82.48% -50.13%
Inventory
Prepaid Expenses $99.74K
Receivables $2.958M
Other Receivables
Total Short-Term Assets $35.84M $357.9K $271.3K
YoY Change 13111.69% 31.93% -49.71%
LONG-TERM ASSETS
Property, Plant & Equipment $313.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $90.85M $90.85M $130.7M
YoY Change -30.48% -30.48% 0.29%
Other Assets
YoY Change
Total Long-Term Assets $313.0K $90.85M $130.7M
YoY Change -99.76% -30.48% 0.28%
TOTAL ASSETS
Total Short-Term Assets $35.84M $357.9K $271.3K
Total Long-Term Assets $313.0K $90.85M $130.7M
Total Assets $36.15M $91.21M $131.0M
YoY Change -72.39% -30.35% 0.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.048M $1.602M $100.0K
YoY Change 2948.0% 983.68%
Accrued Expenses $8.325M
YoY Change
Deferred Revenue $1.975M $1.585M
YoY Change 24.61%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $44.73M $2.419M $170.5K
YoY Change 26130.13% 1318.57% -0.07%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $9.158M $9.158M $3.950M
YoY Change 131.82% 131.82%
Total Long-Term Liabilities $0.00 $9.158M $3.950M
YoY Change -100.0% 131.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.73M $2.419M $170.5K
Total Long-Term Liabilities $0.00 $9.158M $3.950M
Total Liabilities $11.58M $11.58M $4.121M
YoY Change 180.89% 180.9% 2314.75%
SHAREHOLDERS EQUITY
Retained Earnings -$69.77M -$3.714M
YoY Change 1778.45% -3759.26%
Common Stock $3.000K $337.00
YoY Change 790.21% -11.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$8.572M $79.63M $2.069M
YoY Change
Total Liabilities & Shareholders Equity $36.15M $91.21M $131.0M
YoY Change -72.39% -30.35% 0.08%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$1.498M -$5.702M -$2.065M
YoY Change -27.46% 204.27% -2165.14%
Depreciation, Depletion And Amortization $253.0K
YoY Change
Cash From Operating Activities -$358.4K -$1.334M -$71.35K
YoY Change 402.27% 118.32% -67.57%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $39.36M $39.86M $0.00
YoY Change 9393.21% -100.0%
Cash From Investing Activities $39.36M $39.86M $0.00
YoY Change 9393.12% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $39.32M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -38.92M -$38.52M
YoY Change
NET CHANGE
Cash From Operating Activities -358.4K -$1.334M -71.35K
Cash From Investing Activities 39.36M $39.86M 0.000
Cash From Financing Activities -38.92M -$38.52M
Net Change In Cash 74.35K $4.346K -71.35K
YoY Change -204.2% -102.28% -120.39%
FREE CASH FLOW
Cash From Operating Activities -$358.4K -$1.334M -$71.35K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2021 us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div><span><br/></span></div><div style="text-align:justify"><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 the Company’s 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. The more significant accounting estimates included in these consolidated financial statements are the determination of the fair values of the warrant and forward purchase agreement liabilities. Such estimates may be subject to change as more current information becomes available and, accordingly, the actual results could differ significantly from those estimates.</span></div>
CY2021Q4 us-gaap Assets Held In Trust
AssetsHeldInTrust
538128 USD
CY2020Q4 us-gaap Assets Held In Trust
AssetsHeldInTrust
419894 USD
CY2019 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
130015520 USD
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3392993 USD
CY2019 lfly Temporary Equity Accretion To Redemptions Value
TemporaryEquityAccretionToRedemptionsValue
3574835 USD
CY2019Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
130197362 USD
CY2020 lfly Temporary Equity Accretion To Redemptions Value
TemporaryEquityAccretionToRedemptionsValue
347597 USD
CY2020Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
130544959 USD
CY2021 lfly Common Stock Subject To Possible Redemption Forward Purchase Agreements
CommonStockSubjectToPossibleRedemptionForwardPurchaseAgreements
2174989 USD
CY2021 lfly Common Stock Subject To Possible Redemption Shares Repurchased
CommonStockSubjectToPossibleRedemptionSharesRepurchased
39322910 USD
CY2021 lfly Temporary Equity Accretion To Redemptions Value
TemporaryEquityAccretionToRedemptionsValue
1783482 USD
CY2021Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
90830542 USD
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
10451087 shares
CY2021 us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
-4506066 USD
CY2020 us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
-1488275 USD
CY2021 lfly Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation Basic
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellationBasic
12695279 shares
CY2021 lfly Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation Diluted
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellationDiluted
12695279 shares
CY2020 lfly Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation Diluted
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellationDiluted
13001552 shares
CY2020 lfly Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation Basic
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellationBasic
13001552 shares
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.35
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.35
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2021 lfly Allocation Of Net Loss Common Stock
AllocationOfNetLossCommonStock
-1196286 USD
CY2020 lfly Allocation Of Net Loss Common Stock
AllocationOfNetLossCommonStock
-385805 USD
CY2021 lfly Basic Weighted Average Shares Outstanding Nonredeemable Common Stock
BasicWeightedAverageSharesOutstandingNonredeemableCommonStock
3370388 shares
CY2021 lfly Diluted Weighted Average Shares Outstanding Nonredeemable Common Stock
DilutedWeightedAverageSharesOutstandingNonredeemableCommonStock
3370388 shares
CY2020 lfly Diluted Weighted Average Shares Outstanding Nonredeemable Common Stock
DilutedWeightedAverageSharesOutstandingNonredeemableCommonStock
3370388 shares
CY2020 lfly Basic Weighted Average Shares Outstanding Nonredeemable Common Stock
BasicWeightedAverageSharesOutstandingNonredeemableCommonStock
3370388 shares
CY2021 lfly Diluted Net Loss Per Share Nonredeemable Common Stock
DilutedNetLossPerShareNonredeemableCommonStock
-0.35
CY2021 lfly Basic Net Loss Per Share Nonredeemable Common Stock
BasicNetLossPerShareNonredeemableCommonStock
-0.35
CY2020 lfly Basic Net Loss Per Share Nonredeemable Common Stock
BasicNetLossPerShareNonredeemableCommonStock
-0.11
CY2020 lfly Diluted Net Loss Per Share Nonredeemable Common Stock
DilutedNetLossPerShareNonredeemableCommonStock
-0.11
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
Concentration of Credit RiskFinancial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times may exceed the Federal Depository Insurance Corporation coverage limit of $250,000. The Company has not experienced losses on these accounts.
CY2019Q4 lfly Registration Rights Agreement Period Prior To Shares Released From Escrow
RegistrationRightsAgreementPeriodPriorToSharesReleasedFromEscrow
P3M
CY2019Q4 lfly Registration Rights Agreement Period From Ipo
RegistrationRightsAgreementPeriodFromIPO
P5Y
CY2019Q4 lfly Registration Rights Agreement Piggy Back Registration Participation Period From Ipo
RegistrationRightsAgreementPiggyBackRegistrationParticipationPeriodFromIPO
P7Y
CY2019Q4 lfly Registration Rights Agreement Lock Up Period
RegistrationRightsAgreementLockUpPeriod
P180D
CY2019Q4 lfly Commitment To Underwriters To Purchase Additional Units Term
CommitmentToUnderwritersToPurchaseAdditionalUnitsTerm
P45D
CY2019Q4 lfly Commitment To Underwriters To Purchase Additional Units
CommitmentToUnderwritersToPurchaseAdditionalUnits
1800000 shares
CY2019Q4 lfly Commitment To Underwriters To Purchase Additional Units
CommitmentToUnderwritersToPurchaseAdditionalUnits
798448 shares
CY2019Q4 lfly Commitment To Underwriters To Purchase Additional Units Price
CommitmentToUnderwritersToPurchaseAdditionalUnitsPrice
10.00
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3370388 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3370388 shares
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3370388 shares
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3370388 shares
CY2021Q4 lfly Common Stock Subject To Possible Redemption
CommonStockSubjectToPossibleRedemption
9074117 shares
CY2020Q4 lfly Common Stock Subject To Possible Redemption
CommonStockSubjectToPossibleRedemption
13001552 shares
CY2019Q3 lfly Representative Shares Lock Up Period
RepresentativeSharesLockUpPeriod
P180D
CY2019Q3 lfly Representative Shares Lock Up Period
RepresentativeSharesLockUpPeriod
P180D
CY2021Q4 us-gaap Deferred Tax Liabilities Unrealized Gains On Trading Securities
DeferredTaxLiabilitiesUnrealizedGainsOnTradingSecurities
0 USD
CY2020Q4 us-gaap Deferred Tax Liabilities Unrealized Gains On Trading Securities
DeferredTaxLiabilitiesUnrealizedGainsOnTradingSecurities
432 USD
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
199880 USD
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
USD
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
199880 USD
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
432 USD
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
199880 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 USD
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
0 USD
CY2020Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
432 USD
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 USD
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
26728 USD
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-199880 USD
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
384 USD
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
199880 USD
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0 USD
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
27112 USD
CY2021Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
951808 USD
CY2020Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
0 USD
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
199880 USD
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
CY2021 lfly Effective Income Tax Rate Reconciliation Change In Fair Value Of Warrant Liability Percent
EffectiveIncomeTaxRateReconciliationChangeInFairValueOfWarrantLiabilityPercent
-0.112
CY2020 lfly Effective Income Tax Rate Reconciliation Change In Fair Value Of Warrant Liability Percent
EffectiveIncomeTaxRateReconciliationChangeInFairValueOfWarrantLiabilityPercent
-0.225
CY2021 lfly Effective Income Tax Rate Reconciliation Nondeductible Expense Business Combination Expenses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseBusinessCombinationExpenses
-0.063
CY2020 lfly Effective Income Tax Rate Reconciliation Nondeductible Expense Business Combination Expenses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseBusinessCombinationExpenses
0.000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.035
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.000
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.015

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