$MKFG
Markforged Holding Corp

2022 Q4 Form 10-Q Financial Statement

#000095017022023928 Filed on November 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $29.66M $25.21M
YoY Change 11.36% 4.84%
Cost Of Revenue $15.74M $12.96M
YoY Change 35.22% 25.45%
Gross Profit $13.93M $12.25M
YoY Change -7.15% -10.69%
Gross Profit Margin 46.95% 48.59%
Selling, General & Admin $22.21M $24.66M
YoY Change -4.52% 1197.68%
% of Gross Profit 159.45% 201.29%
Research & Development $11.01M $10.42M
YoY Change 3.22% 6.76%
% of Gross Profit 79.08% 85.08%
Depreciation & Amortization $2.873M $2.674M
YoY Change 537.03% 110.72%
% of Gross Profit 20.63% 21.83%
Operating Expenses $33.22M $35.08M
YoY Change -2.09% -2.82%
Operating Profit -$19.29M -$22.83M
YoY Change 1.92% 2.0%
Interest Expense $1.762M $2.000K
YoY Change 7.11% -66.67%
% of Operating Profit
Other Income/Expense, Net $6.373M -$39.00K
YoY Change -69.06% -18.75%
Pretax Income -$11.16M -$22.97M
YoY Change -436.23% -205.84%
Income Tax -$424.0K $3.000K
% Of Pretax Income
Net Earnings -$10.73M -$22.97M
YoY Change -429.1% -205.84%
Net Earnings / Revenue -36.18% -91.12%
Basic Earnings Per Share -$0.12
Diluted Earnings Per Share -$0.06 -$0.12
COMMON SHARES
Basic Shares Outstanding 194.1M 188.5M
Diluted Shares Outstanding 189.8M

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $167.9M $181.8M
YoY Change -41.83% -38.73%
Cash & Equivalents $124.2M $181.8M
Short-Term Investments $43.64M
Other Short-Term Assets $3.334M $2.918M
YoY Change 552.45% 570937.18%
Inventory $26.41M $24.56M
Prepaid Expenses $2.847M $3.647M
Receivables $29.29M $30.14M
Other Receivables $0.00 $0.00
Total Short-Term Assets $229.8M $243.1M
YoY Change -30.4% -28.08%
LONG-TERM ASSETS
Property, Plant & Equipment $18.30M $13.41M
YoY Change 188.2% 151.34%
Goodwill $31.12M $31.25M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.130M $3.150M
YoY Change 303.35% 307.5%
Total Long-Term Assets $116.1M $108.8M
YoY Change 1529.82% 1681.27%
TOTAL ASSETS
Total Short-Term Assets $229.8M $243.1M
Total Long-Term Assets $116.1M $108.8M
Total Assets $345.9M $351.9M
YoY Change 2.56% 2.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.43M $10.79M
YoY Change 26.5% 387.66%
Accrued Expenses $9.663M $9.878M
YoY Change 30.39% -27.59%
Deferred Revenue $8.854M $6.781M
YoY Change 40.81% 22.14%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $40.96M $35.25M
YoY Change 61.2% 62.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.042M $4.944M
YoY Change 52.76% 15.41%
Total Long-Term Liabilities $4.042M $4.944M
YoY Change 52.76% 15.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $40.96M $35.25M
Total Long-Term Liabilities $4.042M $4.944M
Total Liabilities $93.39M $93.80M
YoY Change 0.26% -15.46%
SHAREHOLDERS EQUITY
Retained Earnings -$101.1M -$90.37M
YoY Change 33.53% 14.43%
Common Stock $19.00K $19.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $252.6M $258.1M
YoY Change
Total Liabilities & Shareholders Equity $345.9M $351.9M
YoY Change 2.56% 2.26%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$10.73M -$22.97M
YoY Change -429.1% -205.84%
Depreciation, Depletion And Amortization $2.873M $2.674M
YoY Change 537.03% 110.72%
Cash From Operating Activities -$8.204M -$23.74M
YoY Change 18.78% -37.82%
INVESTING ACTIVITIES
Capital Expenditures $5.420M -$4.464M
YoY Change -469.97% 92.17%
Acquisitions
YoY Change
Other Investing Activities -$43.85M -$33.60M
YoY Change
Cash From Investing Activities -$49.27M -$38.07M
YoY Change 3263.07% 1538.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -47.00K 418.0K
YoY Change -119.58% -99.85%
NET CHANGE
Cash From Operating Activities -8.204M -23.74M
Cash From Investing Activities -49.27M -38.07M
Cash From Financing Activities -47.00K 418.0K
Net Change In Cash -57.52M -61.39M
YoY Change 607.33% -125.73%
FREE CASH FLOW
Cash From Operating Activities -$8.204M -$23.74M
Capital Expenditures $5.420M -$4.464M
Free Cash Flow -$13.62M -$19.28M
YoY Change 150.35% -46.24%

Facts In Submission

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CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2022Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
167000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4773000
CY2022Q3 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
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CY2022Q3 mkfg Adjustments To Additional Paid In Capital Share Based Compensation Earnout Shares Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEarnoutSharesRequisiteServicePeriodRecognition
513000
CY2022Q3 mkfg Stock Issued During Period Value Earnout Achievement
StockIssuedDuringPeriodValueEarnoutAchievement
750000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
258064000
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
62025000
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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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
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CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
46553000
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2803000
CY2021Q3 mkfg Convertible Preferred Stock Shares Issued During Period Series D Warrants Exercised Value
ConvertiblePreferredStockSharesIssuedDuringPeriodSeriesDWarrantsExercisedValue
95000
CY2021Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
45000000
CY2021Q3 mkfg Stock Issued During Period Value Reverse Recapitalization
StockIssuedDuringPeriodValueReverseRecapitalization
113178000
CY2021Q3 mkfg Stock Issued During Period Value Pipe Investment
StockIssuedDuringPeriodValuePIPEInvestment
210000000
CY2021Q3 mkfg Adjustments To Additional Paid In Capital Recognition Of Derivative Liabilities Related To Earnout
AdjustmentsToAdditionalPaidInCapitalRecognitionOfDerivativeLiabilitiesRelatedToEarnout
-123129000
CY2021Q3 mkfg Adjustments To Additional Paid In Capital Share Based Compensation Earnout Shares Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEarnoutSharesRequisiteServicePeriodRecognition
5621000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
21703000
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
233133000
mkfg Business Combination Stock Exchange Ratio
BusinessCombinationStockExchangeRatio
0.9522514
us-gaap Net Income Loss
NetIncomeLoss
-14656000
us-gaap Net Income Loss
NetIncomeLoss
594000
mkfg Depreciation Amortization And Non Cash Lease Interest
DepreciationAmortizationAndNonCashLeaseInterest
6308000
mkfg Depreciation Amortization And Non Cash Lease Interest
DepreciationAmortizationAndNonCashLeaseInterest
1269000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
299000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
205000
us-gaap Inventory Write Down
InventoryWriteDown
374000
us-gaap Inventory Write Down
InventoryWriteDown
152000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1221000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-170000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-50982000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-42710000
us-gaap Share Based Compensation
ShareBasedCompensation
15620000
us-gaap Share Based Compensation
ShareBasedCompensation
11395000
mkfg Transaction Costs Expensed
TransactionCostsExpensed
0
mkfg Transaction Costs Expensed
TransactionCostsExpensed
1996000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3137000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
7676000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
12178000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4869000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-339000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
3901000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
2202000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
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us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
939000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
185000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
242000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4317000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-114000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-7000
mkfg Increase Decrease In Deferred Rent Credit Non Current
IncreaseDecreaseInDeferredRentCreditNonCurrent
0
mkfg Increase Decrease In Deferred Rent Credit Non Current
IncreaseDecreaseInDeferredRentCreditNonCurrent
352000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
909000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-418000
mkfg Increase Decrease In Other Long Term Liabilities
IncreaseDecreaseInOtherLongTermLiabilities
0
mkfg Increase Decrease In Other Long Term Liabilities
IncreaseDecreaseInOtherLongTermLiabilities
0
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-3979000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
0
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-65317000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-38795000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5995000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2323000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
35634000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-41629000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2323000
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
0
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-5022000
mkfg Proceeds From Merger
ProceedsFromMerger
0
mkfg Proceeds From Merger
ProceedsFromMerger
132926000
mkfg Proceeds From Pipe Investment
ProceedsFromPIPEInvestment
0
mkfg Proceeds From Pipe Investment
ProceedsFromPIPEInvestment
210000000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
45000000
us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
0
us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
16043000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
550000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2081000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1727000
mkfg Taxes Paid Related To Net Share Settlement Of Equity Awards
TaxesPaidRelatedToNetShareSettlementOfEquityAwards
-482000
mkfg Taxes Paid Related To Net Share Settlement Of Equity Awards
TaxesPaidRelatedToNetShareSettlementOfEquityAwards
0
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1599000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-279138000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-21000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-105368000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
238020000
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
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
183235000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
296735000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
181805000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
296735000
CY2022Q3 us-gaap Restricted Cash Equivalents
RestrictedCashEquivalents
1430000
CY2021Q3 us-gaap Restricted Cash Equivalents
RestrictedCashEquivalents
0
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
183235000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
296735000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2733000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
152000
mkfg Recognition Of Contingent Earnout Liability Related To Earnout Shares
RecognitionOfContingentEarnoutLiabilityRelatedToEarnoutShares
0
mkfg Recognition Of Contingent Earnout Liability Related To Earnout Shares
RecognitionOfContingentEarnoutLiabilityRelatedToEarnoutShares
123129000
mkfg Recognition Of One Public Warrant Acquired As Part Of The Merger In Additional Paid In Capital
RecognitionOfOnePublicWarrantAcquiredAsPartOfTheMergerInAdditionalPaidInCapital
0
mkfg Recognition Of One Public Warrant Acquired As Part Of The Merger In Additional Paid In Capital
RecognitionOfOnePublicWarrantAcquiredAsPartOfTheMergerInAdditionalPaidInCapital
9729000
mkfg Recognition Of Private Placement Warrant Liability Upon Merger
RecognitionOfPrivatePlacementWarrantLiabilityUponMerger
0
mkfg Recognition Of Private Placement Warrant Liability Upon Merger
RecognitionOfPrivatePlacementWarrantLiabilityUponMerger
5702000
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
1796000
mkfg Conversion Of Convertible Preferred Stock Into Common Stock Upon Reverse Recapitalization
ConversionOfConvertiblePreferredStockIntoCommonStockUponReverseRecapitalization
0
mkfg Conversion Of Convertible Preferred Stock Into Common Stock Upon Reverse Recapitalization
ConversionOfConvertiblePreferredStockIntoCommonStockUponReverseRecapitalization
138047000
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
12944000
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
0
mkfg Additions To Right Of Use Assets And Liabilities
AdditionsToRightOfUseAssetsAndLiabilities
36451000
mkfg Additions To Right Of Use Assets And Liabilities
AdditionsToRightOfUseAssetsAndLiabilities
0
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
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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;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. The Company evaluates its estimates based on historical experience, current conditions, and various other assumptions that it believes are reasonable under the circumstances.</span>
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1158000
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1165000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1021000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1070000
CY2022Q3 mkfg Accounts Receivable Allowance For Credit Loss Additions
AccountsReceivableAllowanceForCreditLossAdditions
555000
CY2021Q3 mkfg Accounts Receivable Allowance For Credit Loss Additions
AccountsReceivableAllowanceForCreditLossAdditions
226000
mkfg Accounts Receivable Allowance For Credit Loss Additions
AccountsReceivableAllowanceForCreditLossAdditions
947000
mkfg Accounts Receivable Allowance For Credit Loss Additions
AccountsReceivableAllowanceForCreditLossAdditions
604000
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
248000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
7000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
312000
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
400000
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
180000
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
648000
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
399000
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1313000
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
963000
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1313000
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
963000
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
0
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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;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 September 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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customer represented </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">11</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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> one customer represented greater than </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of the accounts receivable balance. For the nine months ended September 30, 2022, </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customer represented </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of total revenue. </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> one customer represented </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% or more of revenue for the three months ended September 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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">For the three months ended September 30, 2021, </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customer represented </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">14</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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of the total revenue, and for the nine months ended September 30, 2021 </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> one customer represented more than </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of total revenue</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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">. Historically, the Company has not experienced any significant credit loss related to any individual customer</span>
CY2022Q3 us-gaap Advertising Expense
AdvertisingExpense
1100000
us-gaap Advertising Expense
AdvertisingExpense
3400000
CY2021Q3 us-gaap Advertising Expense
AdvertisingExpense
1900000
us-gaap Advertising Expense
AdvertisingExpense
5000000.0
CY2022Q2 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
790000
CY2021Q2 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
568000
CY2021Q4 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
658000
CY2020Q4 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
564000
CY2022Q3 us-gaap Extended Product Warranty Accrual Warranties Issued
ExtendedProductWarrantyAccrualWarrantiesIssued
245000
CY2021Q3 us-gaap Extended Product Warranty Accrual Warranties Issued
ExtendedProductWarrantyAccrualWarrantiesIssued
155000
us-gaap Extended Product Warranty Accrual Warranties Issued
ExtendedProductWarrantyAccrualWarrantiesIssued
672000
us-gaap Extended Product Warranty Accrual Warranties Issued
ExtendedProductWarrantyAccrualWarrantiesIssued
395000
CY2022Q3 us-gaap Extended Product Warranty Accrual Payments
ExtendedProductWarrantyAccrualPayments
313000
CY2021Q3 us-gaap Extended Product Warranty Accrual Payments
ExtendedProductWarrantyAccrualPayments
130000
us-gaap Extended Product Warranty Accrual Payments
ExtendedProductWarrantyAccrualPayments
608000
us-gaap Extended Product Warranty Accrual Payments
ExtendedProductWarrantyAccrualPayments
366000
CY2022Q3 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
722000
CY2021Q3 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
593000
CY2022Q3 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
722000
CY2021Q3 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
593000
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
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P7Y
CY2022Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
25590000
CY2021Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
24900000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
73205000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
67946000
CY2022Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-25695000
CY2021Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
21698000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-17381000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-593000
CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2000000.0
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5100000
CY2021Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1300000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4200000
CY2022Q3 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
2400000
CY2022Q3 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
5200000
CY2022Q3 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
2600000
CY2022Q3 mkfg Contractual Obligation Due After Second Year
ContractualObligationDueAfterSecondYear
1100000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
25208000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
24045000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
71294000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
64584000
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19990000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12475000
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6581000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6126000
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13409000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6349000
CY2022Q3 mkfg Depreciation Expense
DepreciationExpense
700000
mkfg Depreciation Expense
DepreciationExpense
1600000
CY2021Q3 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
400000
us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
1300000
CY2022Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
3865000
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
853000
CY2022Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
230000
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
77000
CY2022Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
20466000
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
9447000
CY2022Q3 us-gaap Inventory Net
InventoryNet
24561000
CY2021Q4 us-gaap Inventory Net
InventoryNet
10377000
CY2022Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1300000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1000000.0
CY2022Q3 mkfg Finished Goods Inventory Impairment Charges
FinishedGoodsInventoryImpairmentCharges
1100000
CY2022Q3 mkfg Raw Materials Inventory Impairment Charges
RawMaterialsInventoryImpairmentCharges
200000
CY2021Q4 mkfg Finished Goods Inventory Impairment Charges
FinishedGoodsInventoryImpairmentCharges
800000
CY2021Q4 mkfg Raw Materials Inventory Impairment Charges
RawMaterialsInventoryImpairmentCharges
200000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
97000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
895000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1347000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1797000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1948000
CY2022Q3 mkfg Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
9293000
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
15377000
CY2022Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
722000
CY2021Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
658000
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4028000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4360000
CY2022Q3 mkfg Var Commissions
VarCommissions
129000
CY2021Q4 mkfg Var Commissions
VarCommissions
265000
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3186000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1725000
CY2022Q3 mkfg Accrued Marketing And Advertising Costs Current
AccruedMarketingAndAdvertisingCostsCurrent
386000
CY2021Q4 mkfg Accrued Marketing And Advertising Costs Current
AccruedMarketingAndAdvertisingCostsCurrent
122000
CY2022Q3 mkfg Teton Acquisition Holdback Liability
TetonAcquisitionHoldbackLiability
250000
CY2021Q4 mkfg Teton Acquisition Holdback Liability
TetonAcquisitionHoldbackLiability
0
CY2022Q3 us-gaap Accrued Payroll Taxes Current And Noncurrent
AccruedPayrollTaxesCurrentAndNoncurrent
325000
CY2021Q4 us-gaap Accrued Payroll Taxes Current And Noncurrent
AccruedPayrollTaxesCurrentAndNoncurrent
149000
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
852000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
132000
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9878000
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
CY2022Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
64931868
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
56394803
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1900000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5286000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8424000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15620000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11395000
mkfg Earnout Period
EarnoutPeriod
P5Y
CY2022Q3 us-gaap Share Price
SharePrice
1.98
CY2021Q3 us-gaap Share Price
SharePrice
6.56
CY2021Q3 us-gaap Share Price
SharePrice
8.56
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6500
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7000
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
0.0413
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0093
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
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
P3Y9M14D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y9M14D
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
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
CY2022Q3 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
CY2022Q3 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
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
2500000
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
600000
us-gaap Operating Lease Expense
OperatingLeaseExpense
5100000
us-gaap Operating Lease Expense
OperatingLeaseExpense
1900000
CY2022Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
1314000
CY2022Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
8026000
CY2022Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
7209000
CY2022Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
7256000
CY2022Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
7385000
CY2022Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
30423000
CY2022Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
61613000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
13502000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
48111000
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
1954000
us-gaap Operating Lease Payments
OperatingLeasePayments
3966000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y1M6D
CY2022Q3 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 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
CY2022Q3 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
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
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-22970000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
21703000
us-gaap Net Income Loss
NetIncomeLoss
-14656000
us-gaap Net Income Loss
NetIncomeLoss
594000
CY2022Q3 mkfg Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-22970000
CY2021Q3 mkfg Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
21703000
mkfg Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-14656000
mkfg Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
594000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
189766945
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
162942990
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
188225543
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81373265
CY2022Q3 mkfg Weighted Average Number Of Unvested Options Shares Outstanding
WeightedAverageNumberOfUnvestedOptionsSharesOutstanding
0
CY2021Q3 mkfg Weighted Average Number Of Unvested Options Shares Outstanding
WeightedAverageNumberOfUnvestedOptionsSharesOutstanding
4148330
mkfg Weighted Average Number Of Unvested Options Shares Outstanding
WeightedAverageNumberOfUnvestedOptionsSharesOutstanding
0
mkfg Weighted Average Number Of Unvested Options Shares Outstanding
WeightedAverageNumberOfUnvestedOptionsSharesOutstanding
4033901
CY2022Q3 mkfg Dilutive Effect Of Restricted Units Issued
DilutiveEffectOfRestrictedUnitsIssued
0
mkfg Dilutive Effect Of Restricted Units Issued
DilutiveEffectOfRestrictedUnitsIssued
0
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
189766945
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
167091320
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
188225543
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85407166
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
47891665
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27036388
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
47891665
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27036388
CY2022Q3 us-gaap Revenues
Revenues
25208000
CY2021Q3 us-gaap Revenues
Revenues
24045000
us-gaap Revenues
Revenues
71294000
us-gaap Revenues
Revenues
64584000

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
mkfg-20220930_def.xml Edgar Link unprocessable
mkfg-20220930_lab.xml Edgar Link unprocessable
mkfg-20220930_pre.xml Edgar Link unprocessable
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0000950170-22-023928-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
img171494629_0.jpg Edgar Link pending
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mkfg-20220930.htm Edgar Link pending
mkfg-20220930.xsd Edgar Link pending
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mkfg-20220930_cal.xml Edgar Link unprocessable