$MKFG
Markforged Holding Corp

2022 Q3 Form 10-Q Financial Statement

#000095017022016926 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $25.21M $24.23M $21.86M
YoY Change 4.84% 18.65% 8.64%
Cost Of Revenue $12.96M $11.30M $10.25M
YoY Change 25.45% 33.03% 29.15%
Gross Profit $12.25M $12.93M $11.61M
YoY Change -10.69% 8.4% -4.72%
Gross Profit Margin 48.59% 53.35% 53.09%
Selling, General & Admin $24.66M $26.35M $22.19M
YoY Change 1197.68% 62.52% 39.39%
% of Gross Profit 201.29% 203.88% 191.2%
Research & Development $10.42M $10.39M $10.57M
YoY Change 6.76% 61.19% 100.93%
% of Gross Profit 85.08% 80.36% 91.05%
Depreciation & Amortization $2.674M $2.471M $1.163M
YoY Change 110.72% 170.47%
% of Gross Profit 21.83% 19.12% 10.02%
Operating Expenses $35.08M $36.74M $32.76M
YoY Change -2.82% 62.14% 54.67%
Operating Profit -$22.83M -$23.81M -$21.15M
YoY Change 2.0% 121.83% 135.07%
Interest Expense $2.000K $9.000K $0.00
YoY Change -66.67% 80.0% -100.0%
% of Operating Profit
Other Income/Expense, Net -$39.00K -$171.0K -$219.0K
YoY Change -18.75% 64.42% 1584.62%
Pretax Income -$22.97M $4.079M $4.238M
YoY Change -205.84% -136.8% -142.28%
Income Tax $3.000K $4.000K -$1.000K
% Of Pretax Income 0.1% -0.02%
Net Earnings -$22.97M $4.075M $4.239M
YoY Change -205.84% -136.74% -142.31%
Net Earnings / Revenue -91.12% 16.82% 19.39%
Basic Earnings Per Share -$0.12 $0.02 $0.02
Diluted Earnings Per Share -$0.12 $0.02 $0.02
COMMON SHARES
Basic Shares Outstanding 188.5M 188.1M 186.4M
Diluted Shares Outstanding 189.8M 188.9M 191.1M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $181.8M $243.2M $269.1M
YoY Change -38.73% 79149.27% 56170.88%
Cash & Equivalents $181.8M $243.2M $269.1M
Short-Term Investments
Other Short-Term Assets $2.918M $2.517M $1.887M
YoY Change 570937.18% 912.47% 492.33%
Inventory $24.56M $19.32M $12.80M
Prepaid Expenses $3.647M $1.338M $3.636M
Receivables $30.14M $26.57M $22.81M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $243.1M $293.0M $310.3M
YoY Change -28.08% 52639.38% 38836.33%
LONG-TERM ASSETS
Property, Plant & Equipment $13.41M $6.939M $6.680M
YoY Change 151.34%
Goodwill $31.25M $4.475M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.150M $2.858M $1.012M
YoY Change 307.5%
Total Long-Term Assets $108.8M $63.18M $19.39M
YoY Change 1681.27% -70.63% -90.98%
TOTAL ASSETS
Total Short-Term Assets $243.1M $293.0M $310.3M
Total Long-Term Assets $108.8M $63.18M $19.39M
Total Assets $351.9M $356.1M $329.7M
YoY Change 2.26% 65.14% 52.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.79M $10.52M $6.653M
YoY Change 387.66% 213680.49% 42739.67%
Accrued Expenses $9.878M $9.525M $8.009M
YoY Change -27.59% 250.7% 342.06%
Deferred Revenue $6.781M $5.780M $6.367M
YoY Change 22.14%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $35.25M $33.54M $24.04M
YoY Change 62.44% 1132.8% 1215.84%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.944M $2.579M $1.953M
YoY Change 15.41% -90.49% -93.53%
Total Long-Term Liabilities $4.944M $2.579M $1.953M
YoY Change 15.41% -90.49% -93.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.25M $33.54M $24.04M
Total Long-Term Liabilities $4.944M $2.579M $1.953M
Total Liabilities $93.80M $89.79M $75.25M
YoY Change -15.46% 200.76% 134.95%
SHAREHOLDERS EQUITY
Retained Earnings -$90.37M -$67.40M -$71.47M
YoY Change 14.43%
Common Stock $19.00K $19.00K $19.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $258.1M $266.4M $254.4M
YoY Change
Total Liabilities & Shareholders Equity $351.9M $356.1M $329.7M
YoY Change 2.26% 65.14% 52.7%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$22.97M $4.075M $4.239M
YoY Change -205.84% -136.74% -142.31%
Depreciation, Depletion And Amortization $2.674M $2.471M $1.163M
YoY Change 110.72% 170.47%
Cash From Operating Activities -$23.74M -$22.33M -$19.25M
YoY Change -37.82% 12927.01% 192.15%
INVESTING ACTIVITIES
Capital Expenditures -$4.464M -$733.0K $798.0K
YoY Change 92.17% 112.8%
Acquisitions
YoY Change
Other Investing Activities -$33.60M -$2.033M
YoY Change
Cash From Investing Activities -$38.07M -$2.766M -$798.0K
YoY Change 1538.61% 112.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 418.0K 601.0K 580.0K
YoY Change -99.85% -108.61%
NET CHANGE
Cash From Operating Activities -23.74M -22.33M -19.25M
Cash From Investing Activities -38.07M -2.766M -798.0K
Cash From Financing Activities 418.0K 601.0K 580.0K
Net Change In Cash -61.39M -24.49M -19.47M
YoY Change -125.73% 14190.22% 42.07%
FREE CASH FLOW
Cash From Operating Activities -$23.74M -$22.33M -$19.25M
Capital Expenditures -$4.464M -$733.0K $798.0K
Free Cash Flow -$19.28M -$21.59M -$20.05M
YoY Change -46.24% 187.88%

Facts In Submission

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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
254410000
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
916000
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
315000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4005000
CY2022Q2 mkfg Adjustments To Additional Paid In Capital Share Based Compensation Earnout Shares Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEarnoutSharesRequisiteServicePeriodRecognition
907000
CY2022Q2 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
2354000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
4075000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
266352000
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
62025000
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
356000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1194000
CY2021Q1 mkfg Convertible Preferred Stock Shares Issued During Period Series D Warrants Exercised Value
ConvertiblePreferredStockSharesIssuedDuringPeriodSeriesDWarrantsExercisedValue
100000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-10019000
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
53656000
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
62000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1777000
CY2021Q2 mkfg Convertible Preferred Stock Shares Issued During Period Series D Warrants Exercised Value
ConvertiblePreferredStockSharesIssuedDuringPeriodSeriesDWarrantsExercisedValue
355000
CY2021Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1793000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-11090000
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
46553000
mkfg Business Combination Stock Exchange Ratio
BusinessCombinationStockExchangeRatio
0.9522514
us-gaap Net Income Loss
NetIncomeLoss
8314000
us-gaap Net Income Loss
NetIncomeLoss
-21109000
us-gaap Depreciation
Depreciation
3634000
us-gaap Depreciation
Depreciation
841000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
144000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
378000
us-gaap Inventory Write Down
InventoryWriteDown
132000
us-gaap Inventory Write Down
InventoryWriteDown
56000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1669000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
1251000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-51638000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
0
us-gaap Share Based Compensation
ShareBasedCompensation
10334000
us-gaap Share Based Compensation
ShareBasedCompensation
2971000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-68000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1345000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
9076000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1430000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-2583000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
196000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
1989000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-559000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
652000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
60000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
501000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2350000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-82000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
31000
mkfg Increase Decrease In Deferred Rent Credit Non Current
IncreaseDecreaseInDeferredRentCreditNonCurrent
0
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-167000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1088000
mkfg Increase Decrease In Other Long Term Liabilities
IncreaseDecreaseInOtherLongTermLiabilities
0
mkfg Increase Decrease In Other Long Term Liabilities
IncreaseDecreaseInOtherLongTermLiabilities
-2000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-2011000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
0
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-41574000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-16384000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1531000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1039000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2033000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3564000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1039000
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
0
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-5022000
us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
0
us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
4000000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
455000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1496000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
419000
mkfg Taxes Paid Related To Net Share Settlement Of Equity Awards
TaxesPaidRelatedToNetShareSettlementOfEquityAwards
-315000
mkfg Taxes Paid Related To Net Share Settlement Of Equity Awards
TaxesPaidRelatedToNetShareSettlementOfEquityAwards
0
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1181000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-8148000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-43957000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-25571000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
288603000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
58715000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
244646000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33144000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
243216000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
33144000
CY2022Q2 us-gaap Restricted Cash Equivalents
RestrictedCashEquivalents
1430000
CY2021Q2 us-gaap Restricted Cash Equivalents
RestrictedCashEquivalents
0
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1021000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1070000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
244646000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
33144000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
100000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0
mkfg Exercise Of Common Stock Warrants Net Of Shares Withheld For Exercise
ExerciseOfCommonStockWarrantsNetOfSharesWithheldForExercise
0
mkfg Exercise Of Common Stock Warrants Net Of Shares Withheld For Exercise
ExerciseOfCommonStockWarrantsNetOfSharesWithheldForExercise
1793000
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
2354000
mkfg Deferred Transaction Costs Included In Accounts Payable And Accrued Expenses
DeferredTransactionCostsIncludedInAccountsPayableAndAccruedExpenses
0
mkfg Deferred Transaction Costs Included In Accounts Payable And Accrued Expenses
DeferredTransactionCostsIncludedInAccountsPayableAndAccruedExpenses
885000
mkfg Additions To Right Of Use Assets And Liabilities
AdditionsToRightOfUseAssetsAndLiabilities
36246000
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q3 mkfg Business Acquisition Common Stock Exchange Ratio
BusinessAcquisitionCommonStockExchangeRatio
0.009522514
CY2021Q3 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
143795504
CY2021Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5220000
CY2021Q3 mkfg Legacy Markforged Shares
LegacyMarkforgedShares
143795504
CY2021Q3 mkfg Common Stock Shares Issued Immediately After Merger
CommonStockSharesIssuedImmediatelyAfterMerger
185251837
CY2021Q3 mkfg Contingent Forfeited Sponsor Shares Pending Sponsor Earnout Triggering Event
ContingentForfeitedSponsorSharesPendingSponsorEarnoutTriggeringEvent
2610000
CY2021Q3 mkfg Convertible Legacy Markforged Shares
ConvertibleLegacyMarkforgedShares
151005831
CY2021Q3 mkfg Proceeds From Merger Including Contribution Cash Held In Trust
ProceedsFromMergerIncludingContributionCashHeldInTrust
360900000
CY2021Q3 us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
215100000
CY2021Q3 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount
SharesSubjectToMandatoryRedemptionSettlementTermsAmount
64200000
CY2021Q3 mkfg Cash In Connection With Pipe Financing
CashInConnectionWithPipeFinancing
210000000.0
CY2021Q3 us-gaap Payments For Merger Related Costs
PaymentsForMergerRelatedCosts
34500000
CY2022Q2 mkfg Accounts Receivable Allowance For Credit Loss Additions
AccountsReceivableAllowanceForCreditLossAdditions
264000
CY2021Q2 mkfg Accounts Receivable Allowance For Credit Loss Additions
AccountsReceivableAllowanceForCreditLossAdditions
296000
mkfg Accounts Receivable Allowance For Credit Loss Additions
AccountsReceivableAllowanceForCreditLossAdditions
392000
mkfg Accounts Receivable Allowance For Credit Loss Additions
AccountsReceivableAllowanceForCreditLossAdditions
378000
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
63000
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
0
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management’s significant estimates include allowance for doubtful accounts, reserve for excess and obsolete inventory, fair value of contingent earnout liability, fair value of earnout share awards, fair value of the private placement warrant liability, assumptions in revenue recognition, and valuation of intangibles and goodwill. Actual results could differ from those estimates.</span>
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
971000
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1012000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
7000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
64000
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
77000
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
80000
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
248000
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
219000
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1158000
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1165000
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1158000
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1165000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Concentration of Credit Risk</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments which potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents held on deposit at one financial institution and accounts receivable. The Company does not require collateral from customers for amounts owed. At June 30, 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">, </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">one</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> customer represented </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">13</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">% of the accounts receivable balance and at </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">December 31, 2021</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">no</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> one customer represented greater than </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">% of the accounts receivable balance. For the three and six months ended June 30, 2022, </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">one</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> customer represented </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">12</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">% of the total revenue. For the three and six months ended June 30, 2021, no one customer represented more than </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">% of total revenue. Historically, the Company has not experienced any significant credit loss related to any individual customer</span>
CY2022Q2 us-gaap Advertising Expense
AdvertisingExpense
1300000
us-gaap Advertising Expense
AdvertisingExpense
2300000
CY2021Q2 us-gaap Advertising Expense
AdvertisingExpense
1200000
us-gaap Advertising Expense
AdvertisingExpense
3000000.0
CY2022Q1 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
805000
CY2021Q1 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
538000
CY2021Q4 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
658000
CY2020Q4 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
564000
CY2022Q1 us-gaap Extended Product Warranty Accrual Warranties Issued
ExtendedProductWarrantyAccrualWarrantiesIssued
141000
CY2021Q1 us-gaap Extended Product Warranty Accrual Warranties Issued
ExtendedProductWarrantyAccrualWarrantiesIssued
366000
us-gaap Extended Product Warranty Accrual Warranties Issued
ExtendedProductWarrantyAccrualWarrantiesIssued
427000
us-gaap Extended Product Warranty Accrual Warranties Issued
ExtendedProductWarrantyAccrualWarrantiesIssued
633000
CY2022Q1 us-gaap Extended Product Warranty Accrual Payments
ExtendedProductWarrantyAccrualPayments
156000
CY2021Q1 us-gaap Extended Product Warranty Accrual Payments
ExtendedProductWarrantyAccrualPayments
336000
us-gaap Extended Product Warranty Accrual Payments
ExtendedProductWarrantyAccrualPayments
295000
us-gaap Extended Product Warranty Accrual Payments
ExtendedProductWarrantyAccrualPayments
629000
CY2022Q2 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
790000
CY2021Q2 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
568000
CY2022Q2 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
790000
CY2021Q2 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
568000
CY2022Q1 mkfg Increase In Total Assets Due To Recently Adopted Accounting Pronouncements
IncreaseInTotalAssetsDueToRecentlyAdoptedAccountingPronouncements
12200000
CY2022Q1 mkfg Increase In Total Liabilities Due To Recently Adopted Accounting Pronouncements
IncreaseInTotalLiabilitiesDueToRecentlyAdoptedAccountingPronouncements
14000000.0
us-gaap Business Combination Consideration Transferred Other1
BusinessCombinationConsiderationTransferredOther1
1600000
us-gaap Asset Acquisition Consideration Transferred Equity Interest Issued And Issuable
AssetAcquisitionConsiderationTransferredEquityInterestIssuedAndIssuable
250000
CY2022Q2 mkfg Cash Consideration
CashConsideration
2635000
CY2022Q2 us-gaap Contingent Consideration Classified As Equity Fair Value Disclosure
ContingentConsiderationClassifiedAsEquityFairValueDisclosure
2354000
CY2022Q2 mkfg Development Milestone Earnout Fair Value
DevelopmentMilestoneEarnoutFairValue
1020000
CY2022Q2 mkfg Business Milestone Earnout Fair Value
BusinessMilestoneEarnoutFairValue
582000
CY2022Q2 mkfg Asset Acquisition Consideration Transferred1
AssetAcquisitionConsiderationTransferred1
6591000
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CY2022Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
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CY2022Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
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2220000
CY2022Q2 us-gaap Goodwill
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4475000
CY2022Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets
7100000
CY2022Q2 mkfg Business Combination Asset Acquired Liabilities Assumed Customer Payable
BusinessCombinationAssetAcquiredLiabilitiesAssumedCustomerPayable
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CY2022Q2 mkfg Business Combination Asset Acquired Liabilities Assumed Accrued Expense
BusinessCombinationAssetAcquiredLiabilitiesAssumedAccruedExpense
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CY2022Q2 mkfg Business Combination Asset Acquired Liabilities Accrued Expense For Potential Grant Payment
BusinessCombinationAssetAcquiredLiabilitiesAccruedExpenseForPotentialGrantPayment
240000
CY2022Q2 mkfg Liabilities Acquired
LiabilitiesAcquired
509000
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P7Y
CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2500000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3900000
CY2021Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1600000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3600000
CY2022Q2 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
3700000
CY2022Q2 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
3600000
CY2022Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
2000000.0
CY2022Q2 mkfg Contractual Obligation Due After Second Year
ContractualObligationDueAfterSecondYear
600000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
24227000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
46086000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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40539000
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PropertyPlantAndEquipmentNet
6939000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2022Q2 mkfg Depreciation Expense
DepreciationExpense
400000
mkfg Depreciation Expense
DepreciationExpense
900000
CY2021Q2 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
400000
us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
800000
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2070000
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InventoryRawMaterials
853000
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213000
CY2021Q4 us-gaap Inventory Work In Process
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77000
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17038000
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InventoryValuationReserves
1100000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1000000.0
CY2022Q2 mkfg Finished Goods Inventory Impairment Charges
FinishedGoodsInventoryImpairmentCharges
900000
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RawMaterialsInventoryImpairmentCharges
200000
CY2021Q4 mkfg Finished Goods Inventory Impairment Charges
FinishedGoodsInventoryImpairmentCharges
800000
CY2021Q4 mkfg Raw Materials Inventory Impairment Charges
RawMaterialsInventoryImpairmentCharges
200000
CY2022Q2 mkfg Amortization Expense
AmortizationExpense
5000
mkfg Amortization Expense
AmortizationExpense
5000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
16000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
310000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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553000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
565000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
429000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
417000
CY2022Q2 us-gaap Product Warranty Accrual Classified Current
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790000
CY2021Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
658000
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3380000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4360000
CY2022Q2 mkfg Var Commissions
VarCommissions
119000
CY2021Q4 mkfg Var Commissions
VarCommissions
265000
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3600000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1725000
CY2022Q2 mkfg Accrued Marketing And Advertising Costs Current
AccruedMarketingAndAdvertisingCostsCurrent
270000
CY2021Q4 mkfg Accrued Marketing And Advertising Costs Current
AccruedMarketingAndAdvertisingCostsCurrent
122000
CY2022Q2 mkfg Teton Acquisition Holdback Liability
TetonAcquisitionHoldbackLiability
250000
CY2021Q4 mkfg Teton Acquisition Holdback Liability
TetonAcquisitionHoldbackLiability
0
CY2022Q2 us-gaap Accrued Payroll Taxes Current And Noncurrent
AccruedPayrollTaxesCurrentAndNoncurrent
267000
CY2021Q4 us-gaap Accrued Payroll Taxes Current And Noncurrent
AccruedPayrollTaxesCurrentAndNoncurrent
149000
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
849000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
132000
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9525000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7411000
CY2020Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
113419184
CY2020Q4 mkfg Temporary Equity Shares Issued And Outstanding
TemporaryEquitySharesIssuedAndOutstanding
107592801
CY2020Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
137497000
CY2020Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
137876000
CY2022Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
65688607
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
56394803
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1900000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4912000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1777000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10334000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2971000
mkfg Earnout Period
EarnoutPeriod
P5Y
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
700000
us-gaap Operating Lease Expense
OperatingLeaseExpense
2600000
us-gaap Operating Lease Expense
OperatingLeaseExpense
1300000
CY2022Q2 us-gaap Share Price
SharePrice
1.85
CY2021Q3 us-gaap Share Price
SharePrice
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6500
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0298
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0085
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2022Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2021Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
400000
mkfg Annual Rent Increase Percentage
AnnualRentIncreasePercentage
0.03
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
2000000.0
us-gaap Common Stock Conversion Features
CommonStockConversionFeatures
As a result of the Merger, the Company has retroactively adjusted the weighted-average number of shares of common stock outstanding prior to the Merger closing date by multiplying them by the Exchange Ratio used to determine the number of shares of common stock into which they converted
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
3268000
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
7957000
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
7140000
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
7216000
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
7385000
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
30423000
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
63389000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
14225000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
49164000
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
613000
us-gaap Operating Lease Payments
OperatingLeasePayments
2011000
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y3M18D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.060
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
5499000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
8314000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
7507000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
7594000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
7775000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
31412000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
68101000
CY2022Q2 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
0
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
4075000
us-gaap Revenues
Revenues
40539000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-11090000
us-gaap Net Income Loss
NetIncomeLoss
8314000
us-gaap Net Income Loss
NetIncomeLoss
-21109000
CY2022Q2 mkfg Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
4075000
CY2021Q2 mkfg Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-11090000
mkfg Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
8314000
mkfg Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-21109000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
188102342
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39855379
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
187247566
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39649848
CY2022Q2 mkfg Weighted Average Number Of Unvested Options Shares Outstanding
WeightedAverageNumberOfUnvestedOptionsSharesOutstanding
636975
mkfg Weighted Average Number Of Unvested Options Shares Outstanding
WeightedAverageNumberOfUnvestedOptionsSharesOutstanding
581279
CY2022Q2 mkfg Dilutive Effect Of Restricted Units Issued
DilutiveEffectOfRestrictedUnitsIssued
137446
mkfg Dilutive Effect Of Restricted Units Issued
DilutiveEffectOfRestrictedUnitsIssued
500486
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
188876763
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39855379
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
188329331
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39649848
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.53
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.28
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.53
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
33933301
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
121245552
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
30866327
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
121245552
CY2022Q2 us-gaap Revenues
Revenues
24227000
CY2021Q2 us-gaap Revenues
Revenues
20419000
us-gaap Revenues
Revenues
46086000
us-gaap Revenues
Revenues
46086000
us-gaap Revenues
Revenues
40539000
CY2022Q2 us-gaap Revenues
Revenues
24227000
CY2021Q2 us-gaap Revenues
Revenues
20419000
CY2022Q3 mkfg Adjustment To Cash Settlement
AdjustmentToCashSettlement
1500000
CY2022Q3 mkfg Adjustment To Cash Settlement
AdjustmentToCashSettlement
1500000

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