2022 Q1 Form 10-Q Financial Statement
#000177947422000022 Filed on May 06, 2022
Income Statement
Concept | 2022 Q1 | 2021 Q4 | 2021 Q1 |
---|---|---|---|
Revenue | $57.45M | $54.18M | $41.15M |
YoY Change | 39.6% | ||
Cost Of Revenue | $3.740M | $2.138M | $1.857M |
YoY Change | 101.4% | ||
Gross Profit | $53.71M | $52.04M | $39.30M |
YoY Change | 36.68% | ||
Gross Profit Margin | 93.49% | 96.05% | 95.49% |
Selling, General & Admin | $50.94M | $55.49M | $22.48M |
YoY Change | 126.56% | ||
% of Gross Profit | 94.83% | 106.63% | 57.21% |
Research & Development | $13.09M | $7.868M | |
YoY Change | 66.37% | ||
% of Gross Profit | 24.37% | 20.02% | |
Depreciation & Amortization | $3.945M | $1.455M | $1.002M |
YoY Change | 293.71% | ||
% of Gross Profit | 7.34% | 2.8% | 2.55% |
Operating Expenses | $64.03M | $56.95M | $737.8K |
YoY Change | 8578.63% | 1782.62% | 61.22% |
Operating Profit | -$14.26M | -$4.906M | $7.944M |
YoY Change | -279.51% | -1835.95% | |
Interest Expense | |||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | -$502.0K | $82.51M | $28.00K |
YoY Change | -1892.86% | -98.77% | |
Pretax Income | -$32.98M | $77.60M | $7.972M |
YoY Change | -513.71% | -245.4% | 337.51% |
Income Tax | -$1.700M | -$843.0K | $200.0K |
% Of Pretax Income | -1.09% | 2.51% | |
Net Earnings | -$13.89M | $35.29M | $7.731M |
YoY Change | -279.71% | -166.11% | 102.97% |
Net Earnings / Revenue | -24.18% | 65.13% | 18.79% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$191.8K | $521.9K | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | |||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2022 Q1 | 2021 Q4 | 2021 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $55.86M | $67.78M | $100.6K |
YoY Change | 55418.34% | 21574.08% | -87.34% |
Cash & Equivalents | $55.86M | $67.78M | $19.60M |
Short-Term Investments | |||
Other Short-Term Assets | $12.03M | $13.61M | $101.7K |
YoY Change | 11726.4% | 44035.58% | -52.89% |
Inventory | |||
Prepaid Expenses | $101.7K | ||
Receivables | $23.66M | $17.55M | |
Other Receivables | $0.00 | $0.00 | |
Total Short-Term Assets | $91.55M | $98.93M | $202.3K |
YoY Change | 45143.6% | 189.56% | -79.98% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $17.34M | $13.28M | |
YoY Change | 79.82% | ||
Goodwill | $65.72M | $45.30M | |
YoY Change | 1043.52% | ||
Intangibles | $13.49M | $8.299M | |
YoY Change | 84.22% | ||
Long-Term Investments | $254.2M | ||
YoY Change | 0.08% | ||
Other Assets | $10.69M | $10.69M | |
YoY Change | 175.86% | ||
Total Long-Term Assets | $313.7M | $266.2M | $254.2M |
YoY Change | 23.39% | 1249.47% | 0.08% |
TOTAL ASSETS | |||
Total Short-Term Assets | $91.55M | $98.93M | $202.3K |
Total Long-Term Assets | $313.7M | $266.2M | $254.2M |
Total Assets | $405.2M | $365.1M | $254.4M |
YoY Change | 59.28% | 577.52% | -0.24% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $6.378M | $4.298M | $3.550M |
YoY Change | 79.69% | 91.53% | |
Accrued Expenses | $21.65M | $24.32M | |
YoY Change | |||
Deferred Revenue | $7.897M | $8.057M | |
YoY Change | 53.06% | ||
Short-Term Debt | $0.00 | $0.00 | $200.0K |
YoY Change | -100.0% | ||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $36.93M | $37.80M | $3.750M |
YoY Change | 884.79% | 62.59% | 806.29% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $1.627M | $0.00 | $150.7M |
YoY Change | -98.92% | -100.0% | 1621.71% |
Total Long-Term Liabilities | $1.627M | $0.00 | $150.7M |
YoY Change | -98.92% | -100.0% | 1621.71% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $36.93M | $37.80M | $3.750M |
Total Long-Term Liabilities | $1.627M | $0.00 | $150.7M |
Total Liabilities | $256.2M | $233.2M | $154.4M |
YoY Change | 65.96% | 847.1% | 1584.9% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $47.48M | $61.37M | -$126.0M |
YoY Change | -137.69% | -3981.05% | |
Common Stock | |||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $91.46M | $63.56M | $5.000M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $405.2M | $365.1M | $254.4M |
YoY Change | 59.28% | 577.52% | -0.24% |
Cashflow Statement
Concept | 2022 Q1 | 2021 Q4 | 2021 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$13.89M | $35.29M | $7.731M |
YoY Change | -279.71% | -166.11% | 102.97% |
Depreciation, Depletion And Amortization | $3.945M | $1.455M | $1.002M |
YoY Change | 293.71% | ||
Cash From Operating Activities | -$6.993M | -$2.081M | $10.59M |
YoY Change | -166.05% | 569.28% | -10729.94% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $4.201M | -$3.689M | $283.0K |
YoY Change | 1384.45% | ||
Acquisitions | $713.0K | $0.00 | |
YoY Change | |||
Other Investing Activities | -$713.0K | -$3.500M | $14.49K |
YoY Change | -5020.63% | ||
Cash From Investing Activities | -$4.914M | -$7.189M | -$283.0K |
YoY Change | 1636.4% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $14.49K | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -$13.00K | -888.0K | -$10.62M |
YoY Change | -99.88% | ||
NET CHANGE | |||
Cash From Operating Activities | -$6.993M | -2.081M | $10.59M |
Cash From Investing Activities | -$4.914M | -7.189M | -$283.0K |
Cash From Financing Activities | -$13.00K | -888.0K | -$10.62M |
Net Change In Cash | -$11.92M | -10.16M | -$315.0K |
YoY Change | 3684.13% | 3166.97% | 216.28% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$6.993M | -$2.081M | $10.59M |
Capital Expenditures | $4.201M | -$3.689M | $283.0K |
Free Cash Flow | -$11.19M | $1.608M | $10.30M |
YoY Change | -208.64% |
Facts In Submission
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WM TECHNOLOGY, INC. | |
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CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
7731000 | USD |
CY2021Q1 | us-gaap |
Members Equity
MembersEquity
|
26383000 | USD |
CY2021Q1 | us-gaap |
Members Equity
MembersEquity
|
26383000 | USD |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-31233000 | USD |
CY2021Q1 | us-gaap |
Profit Loss
ProfitLoss
|
7731000 | USD |
CY2022Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
3945000 | USD |
CY2021Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1002000 | USD |
CY2022Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
18219000 | USD |
CY2021Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
0 | USD |
CY2022Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
7517000 | USD |
CY2021Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
0 | USD |
CY2022Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-1748000 | USD |
CY2021Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | USD |
CY2022Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
2759000 | USD |
CY2021Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
115000 | USD |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
7802000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-1760000 | USD |
CY2022Q1 | maps |
Increase Decrease In Prepaid Expense And Other Assets Current
IncreaseDecreaseInPrepaidExpenseAndOtherAssetsCurrent
|
-1617000 | USD |
CY2021Q1 | maps |
Increase Decrease In Prepaid Expense And Other Assets Current
IncreaseDecreaseInPrepaidExpenseAndOtherAssetsCurrent
|
2524000 | USD |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-11000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
1578000 | USD |
CY2022Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-256000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
925000 | USD |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-6993000 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
10587000 | USD |
CY2022Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
4201000 | USD |
CY2021Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
283000 | USD |
CY2022Q1 | us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
713000 | USD |
CY2021Q1 | us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
0 | USD |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-4914000 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-283000 | USD |
CY2022Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
13000 | USD |
CY2021Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
0 | USD |
CY2022Q1 | us-gaap |
Payments Of Capital Distribution
PaymentsOfCapitalDistribution
|
0 | USD |
CY2021Q1 | us-gaap |
Payments Of Capital Distribution
PaymentsOfCapitalDistribution
|
10513000 | USD |
CY2022Q1 | us-gaap |
Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
|
0 | USD |
CY2021Q1 | us-gaap |
Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
|
106000 | USD |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-13000 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-10619000 | USD |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-11920000 | USD |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-315000 | USD |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
67777000 | USD |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
19919000 | USD |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
55857000 | USD |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
19604000 | USD |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
28725000 | USD |
CY2021Q1 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
0 | USD |
CY2022Q1 | maps |
Holdback Liability Recognized In Connection With Acquisition
HoldbackLiabilityRecognizedInConnectionWithAcquisition
|
98000 | USD |
CY2021Q1 | maps |
Holdback Liability Recognized In Connection With Acquisition
HoldbackLiabilityRecognizedInConnectionWithAcquisition
|
0 | USD |
CY2022Q1 | maps |
Business Combination Accrued Liabilities
BusinessCombinationAccruedLiabilities
|
586000 | USD |
CY2021Q1 | maps |
Business Combination Accrued Liabilities
BusinessCombinationAccruedLiabilities
|
0 | USD |
CY2022Q1 | us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
410000 | USD |
CY2021Q1 | us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
0 | USD |
CY2022Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
Business and Organization<div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">WM Technology, Inc. (the “Company”) is one of the oldest and largest marketplace and technology solutions providers exclusively servicing the cannabis industry, primarily consumers, retailers, delivery services and brands in the United States state-legal and Canadian cannabis markets. The Company’s business primarily consists of its commerce-driven marketplace, Weedmaps, and its monthly subscription software offering, WM Business. The Company’s Weedmaps marketplace provides information on the cannabis plant and the industry and advocates for legalization. The Weedmaps marketplace provides consumers with information regarding cannabis retailers and brands, as well as the strain, pricing, and other information regarding locally available cannabis products, through the Company’s website and mobile apps, permitting product discovery, access to deals and discounts, and reservation of products for pickup by consumers or delivery to consumers by participating retailers. WM Business, the Company’s subscription package, is a comprehensive set of eCommerce and compliance software solutions catered towards cannabis retailers, delivery services and brands where clients receive access to a standard listing page and its suite of software solutions, including WM Orders, WM Dispatch, WM Store, WM Dashboard, integrations and API platform, as well as access to its WM Exchange products, where available. The Company charges a monthly fee to clients for access to its WM Business subscription package and then offers other add-on products for additional fees, including its featured listings and its Sprout (customer relationship management), Cannveya (delivery and logistics software) and Enlighten (software, digital signage services and multi-media offerings) solutions. The Company sells its WM Business offering in the United States, currently offers some of its WM Business solutions in Canada and has a limited number of non-monetized listings in several other countries, including Austria, Germany, the Netherlands, Spain, and Switzerland. The Company operates in the United States, Canada, and other foreign jurisdictions where medical and/or adult cannabis use is legal under state or applicable national law. The Company is headquartered in Irvine, California.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">WM Technology, Inc. was initially incorporated in the Cayman Islands on June 7, 2019 under the name “Silver Spike Acquisition Corp” (“Silver Spike”). Silver Spike was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. On June 16, 2021 (the “Closing Date”), Silver Spike consummated the business combination (the “Business Combination”), pursuant to that certain Agreement and Plan of Merger, dated December 10, 2020 (the “Merger Agreement”), by and among Silver Spike, Silver Spike Merger Sub LLC, a Delaware limited liability company and a wholly owned direct subsidiary of Silver Spike Acquisition Corp. (“Merger Sub”), WM Holding Company, LLC, a Delaware limited liability company (when referred to in its pre-Business Combination capacity, “Legacy WMH” and following the Business Combination, “WMH LLC”), and Ghost Media Group, LLC, a Nevada limited liability company, solely in its capacity as the initial holder representative (the “Holder Representative”). On the Closing Date, and in connection with the closing of the Business Combination (the “Closing”), Silver Spike was domesticated and continues as a Delaware corporation, changing its name to WM Technology, Inc.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company was reorganized into an Up-C structure, in which substantially all of the assets and business of the Company are held by WMH LLC and continue to operate through WMH LLC and its subsidiaries, and WM Technology, Inc.’s material assets are the equity interests of WMH LLC indirectly held by it. Legacy WMH was determined to be the accounting acquirer in the Business Combination, which was accounted for as a reverse recapitalization in accordance with accounting principles generally accepted in the United States of America (“GAAP”).</span></div> | |
CY2022Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="margin-top:12pt;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 style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with 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 interim condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Significant estimates made by management include, among others, the valuation of accounts receivable, the useful lives of long-lived assets, income taxes, website and internal-use software development costs, leases, valuation of goodwill and other intangible assets, valuation of warrant liability, deferred tax asset, tax receivable agreement liability, revenue recognition, stock-based compensation, and the recognition and disclosure of contingent liabilities.</span></div> | |
CY2022Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
7200000 | USD |
CY2021Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
5200000 | USD |
CY2021Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
5169000 | USD |
CY2020Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
914000 | USD |
CY2022Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
2759000 | USD |
CY2021Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
115000 | USD |
CY2022Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
|
686000 | USD |
CY2021Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
|
354000 | USD |
CY2022Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
7242000 | USD |
CY2021Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
675000 | USD |
CY2022Q1 | us-gaap |
Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
|
6500000 | USD |
CY2021Q4 | us-gaap |
Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
|
6500000 | USD |
CY2022Q1 | us-gaap |
Lease Cost
LeaseCost
|
2500000 | USD |
CY2021Q1 | us-gaap |
Lease Cost
LeaseCost
|
2900000 | USD |
CY2022Q1 | maps |
Tax Receivable Agreement Liabilities As Percent Of Expected Benefit
TaxReceivableAgreementLiabilitiesAsPercentOfExpectedBenefit
|
0.85 | |
CY2022Q1 | maps |
Tax Receivable Agreement Percent Recorded In Additional Paid In Capital
TaxReceivableAgreementPercentRecordedInAdditionalPaidInCapital
|
0.15 | |
CY2021Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
8100000 | USD |
CY2022Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
7900000 | USD |
CY2022Q1 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
7900000 | USD |
CY2022Q1 | us-gaap |
Advertising Expense
AdvertisingExpense
|
4900000 | USD |
CY2022Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | segment |
CY2021Q1 | us-gaap |
Advertising Expense
AdvertisingExpense
|
3000000 | USD |
CY2022Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-1700000 | USD |
CY2021Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
200000 | USD |
CY2022Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |
CY2022Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="margin-top:12pt;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%">Concentrations of Credit Risk</span></div><div style="margin-top:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s financial instruments are potentially subject to concentrations of credit risk. The Company places its cash with high quality credit institutions. From time to time, the Company maintains cash balances at certain institutions in excess of the Federal Deposit Insurance Corporation limit. Management believes that the risk of loss is not significant and has not experienced any losses in such accounts.</span></div> | |
CY2021Q4 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
27460000 | USD |
CY2022Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
18219000 | USD |
CY2022Q1 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
45679000 | USD |
CY2021Q2 | maps |
Reverse Recapitalization Period Of Exchange Agreement
ReverseRecapitalizationPeriodOfExchangeAgreement
|
P180D | |
CY2021Q2 | us-gaap |
Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
|
1 | shares |
CY2022Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |
CY2022Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |
CY2021Q4 | us-gaap |
Goodwill
Goodwill
|
45295000 | USD |
CY2022Q1 | us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
20427000 | USD |
CY2022Q1 | us-gaap |
Goodwill
Goodwill
|
65722000 | USD |
CY2022Q1 | us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P9Y4M24D | |
CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
21568000 | USD |
CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
8080000 | USD |
CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
13488000 | USD |
CY2021 | us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P10Y4M24D | |
CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
15803000 | USD |
CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
7504000 | USD |
CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
8299000 | USD |
CY2022Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
600000 | USD |
CY2021Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
200000 | USD |
CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
2418000 | USD |
CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
2599000 | USD |
CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
2365000 | USD |
CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
2034000 | USD |
CY2022Q1 | maps |
Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
|
2285000 | USD |
CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
1787000 | USD |
CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
13488000 | USD |
CY2022Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
6378000 | USD |
CY2021Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
4298000 | USD |
CY2022Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
9965000 | USD |
CY2021Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
10088000 | USD |
CY2022Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
6012000 | USD |
CY2021Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
8769000 | USD |
CY2022Q1 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
22355000 | USD |
CY2021Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
23155000 | USD |
CY2022Q1 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
11.50 | |
CY2021Q3 | maps |
Notice Period To Redeem Warrants
NoticePeriodToRedeemWarrants
|
P30D | |
CY2021Q3 | maps |
Class Of Warrant Or Right Threshold Trading Days
ClassOfWarrantOrRightThresholdTradingDays
|
P20D | |
CY2021Q3 | maps |
Class Of Warrant Or Right Trading Period
ClassOfWarrantOrRightTradingPeriod
|
P30D | |
CY2022Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
18200000 | USD |
CY2021Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
75000000 | shares |
CY2022Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2022Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2021Q2 | maps |
Reverse Recapitalization Period Of Exchange Agreement
ReverseRecapitalizationPeriodOfExchangeAgreement
|
P180D | |
CY2021Q2 | maps |
Exchange Of Stock Exchange Ratio
ExchangeOfStockExchangeRatio
|
1 | shares |
CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
7517000 | USD |
CY2022Q1 | us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
410000 | USD |
CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
7927000 | USD |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-31233000 | USD |
CY2022Q1 | maps |
Net Income Loss Attributable To Noncontrolling Interest After Reverse Merger
NetIncomeLossAttributableToNoncontrollingInterestAfterReverseMerger
|
-17340000 | USD |
CY2022Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-13893000 | USD |