$ML
MONEYLION INC.

2022 Q3 Form 10-Q Financial Statement

#000095017022016913 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $88.75M $87.34M $55.56M
YoY Change 100.7% 128.76% 146.39%
Cost Of Revenue $28.84M $29.39M $1.881M
YoY Change 1477.52% 178.73% 56.88%
Gross Profit $59.91M $57.95M $53.68M
YoY Change 41.33% 109.7% 151.42%
Gross Profit Margin 67.51% 66.35% 96.61%
Selling, General & Admin $45.45M $21.54M $47.18M
YoY Change 9.22% 35.68% 104.65%
% of Gross Profit 75.86% 37.16% 87.89%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $319.0K $257.0K $890.0K
YoY Change -34.36% 335.59% 199.66%
% of Gross Profit 0.53% 0.44% 1.66%
Operating Expenses $112.9M $114.2M $79.25M
YoY Change 54.2% 121.57% 68.06%
Operating Profit -$24.17M -$26.91M -$25.57M
YoY Change -21.62% 101.05% -0.91%
Interest Expense $7.880M $7.584M -$2.051M
YoY Change 27.26% 310.17% -55.51%
% of Operating Profit
Other Income/Expense, Net $460.0K $9.000K $3.932M
YoY Change 235.77% -99.72%
Pretax Income -$20.96M -$23.05M -$27.62M
YoY Change -14.94% -41.2% -9.19%
Income Tax $53.00K $16.00K $15.00K
% Of Pretax Income
Net Earnings -$21.02M -$23.07M -$31.05M
YoY Change -25.38% -45.46% -4.07%
Net Earnings / Revenue -23.68% -26.41% -55.88%
Basic Earnings Per Share -$0.09 -$0.11
Diluted Earnings Per Share -$0.09 -$97.60K -$125.6K
COMMON SHARES
Basic Shares Outstanding 242.8M 236.3M
Diluted Shares Outstanding 244.7M 7.877M

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $126.4M $154.1M $201.8M
YoY Change -57.26% 431.77% 21126.15%
Cash & Equivalents $126.4M $154.1M $201.8M
Short-Term Investments
Other Short-Term Assets $4.649M $6.856M $8.836M
YoY Change -54.0% 118.76% 7680.91%
Inventory
Prepaid Expenses
Receivables $130.1M $133.4M $131.4M
Other Receivables $20.82M $17.52M $0.00
Total Short-Term Assets $281.9M $311.8M $342.0M
YoY Change -32.59% 151.24% 32041.43%
LONG-TERM ASSETS
Property, Plant & Equipment $2.896M $2.045M $1.801M
YoY Change 392.52% 331.43%
Goodwill $161.3M $161.7M $52.54M
YoY Change
Intangibles $205.7M $209.2M $25.12M
YoY Change
Long-Term Investments
YoY Change
Other Assets $62.84M $63.16M $44.46M
YoY Change 1771.91% 2150.93% 13472930.3%
Total Long-Term Assets $476.9M $471.9M $149.5M
YoY Change 846.98% 989.95% -57.31%
TOTAL ASSETS
Total Short-Term Assets $281.9M $311.8M $342.0M
Total Long-Term Assets $476.9M $471.9M $149.5M
Total Assets $758.8M $783.6M $491.5M
YoY Change 61.93% 368.16% 39.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $54.05M $50.24M $75.00M
YoY Change 43.1% 166.76% 31212.57%
Accrued Expenses $9.395M $9.736M
YoY Change 12.33% 612.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $63.44M $59.98M $75.00M
YoY Change 37.52% 138.0% 29776.91%
LONG-TERM LIABILITIES
Long-Term Debt $241.6M $241.3M $186.6M
YoY Change 453.9% 94.0%
Other Long-Term Liabilities $51.64M $68.46M $8.260M
YoY Change 125.35% -6.8% -89.58%
Total Long-Term Liabilities $293.3M $309.7M $194.9M
YoY Change 340.75% 56.57% 145.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $63.44M $59.98M $75.00M
Total Long-Term Liabilities $293.3M $309.7M $194.9M
Total Liabilities $356.7M $369.7M $269.9M
YoY Change 51.01% 14.05% 239.32%
SHAREHOLDERS EQUITY
Retained Earnings -$523.0M -$502.0M -$469.9M
YoY Change
Common Stock $25.00K $24.00K $23.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $9.700M $9.700M $9.700M
YoY Change
Treasury Stock Shares $970.0K $970.0K $970.0K
Shareholders Equity $228.9M $220.3M $221.7M
YoY Change
Total Liabilities & Shareholders Equity $758.8M $783.6M $491.5M
YoY Change 61.93% 368.16% 39.93%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income -$21.02M -$23.07M -$31.05M
YoY Change -25.38% -45.46% -4.07%
Depreciation, Depletion And Amortization $319.0K $257.0K $890.0K
YoY Change -34.36% 335.59% 199.66%
Cash From Operating Activities -$386.0K -$859.0K -$6.507M
YoY Change -94.2% -166.08% -500.18%
INVESTING ACTIVITIES
Capital Expenditures -$3.452M -$2.189M -$125.0K
YoY Change 1726.46% 1583.85% -19.87%
Acquisitions
YoY Change
Other Investing Activities -$24.61M -$29.08M -$53.02M
YoY Change -36.01% -22.03% 177.8%
Cash From Investing Activities -$28.06M -$31.26M -$53.15M
YoY Change -27.39% -16.45% 176.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 439.0K 356.0K 6.875M
YoY Change -99.86% -95.59% -56.42%
NET CHANGE
Cash From Operating Activities -386.0K -859.0K -6.507M
Cash From Investing Activities -28.06M -31.26M -53.15M
Cash From Financing Activities 439.0K 356.0K 6.875M
Net Change In Cash -28.01M -31.77M -52.78M
YoY Change -110.48% 13.3% 2765.26%
FREE CASH FLOW
Cash From Operating Activities -$386.0K -$859.0K -$6.507M
Capital Expenditures -$3.452M -$2.189M -$125.0K
Free Cash Flow $3.066M $1.330M -$6.382M
YoY Change -147.43% -6.99% -458.14%

Facts In Submission

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Revenues
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><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;">Enterprise service revenues—</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;">The Company provides services to enterprise clients to allow them to better connect with existing end-users and reach new potential end-users. These services include lead generation services, advertising services and digital media and content production services custom designed to promote enterprise clients’ products and services.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="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> </p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><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 Company has a single performance obligation to provide lead generating services to financial institutions and financial service providers (“Product Partners”) whereby qualified consumers are matched with financial solutions offered by the Product Partners based on qualification and preference.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><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><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><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;">Lead generation fees are earned through the operation of a robust technology platform via an API that connects consumers to financial institutions and financial service providers. The Company’s API platform functions as a powerful definitive search, comparison and ad recommendation engine that provides consumers with personalized financial solution options and matches the demand and supply of financial services. The lead generating services conducted through the API comprise a series of distinct services that are substantially the same and have the same pattern of transfer. The Company is entitled to receive transaction fees that are based on performance structure, including but not limited to cost per funded loan, cost per approved credit card, cost per click or cost per savings accounts, or revenue share based on successful lead conversion. The transaction fees and revenue share are considered revenue from contracts with Product Partners, including financial institutions and other financial service providers. These fees and revenue share to which the Company expects to be entitled are deemed variable consideration because the loan volume over the contractual term is not known. Because the lead generating service performance obligation is a series of distinct services, the Company applies the variable consideration exception and allocates the variable consideration to the period in which the fees are earned, and recognizes revenue over time.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="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> </p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><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 Company generates advertising fees by displaying ads on the Company’s mobile application and by sending emails or other messages to potential end-users to promote the enterprise clients’ services. For advertising services, the Company enters into agreements with the enterprise clients in the form of a signed contract, which specifies the terms of the services and fees, prior to running advertising and promotional campaigns. The Company recognizes revenue from the display of impression-based ads and distribution of impression-based emails in the period in which the impressions are delivered in accordance with the contractual terms of the enterprise clients’ arrangements. Impressions are considered delivered when a member clicks on the advertisement or promotion.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="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> </p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><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;">Digital media and content production services provided to enterprise clients are generally earned and recognized over time as the performance obligations within the contracts are satisfied. Payment terms vary from contract to contract such that collections may occur in advance of services being rendered, as services are rendered or after services are rendered. Contracts for digital media and content production services are typically short-term in duration.</span></p>
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SubscriptionReceivables
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ml Monroe Term Loans Description
MonroeTermLoansDescription
In March 2022, the Company entered into a credit agreement (the “Monroe Credit Agreement”) with certain financial institutions from time to time party thereto, as lenders, and Monroe Capital Management Advisors, LLC, as administrative agent and lead arranger (“Monroe Capital”). The Monroe Credit Agreement provides for the following:•$70,000 aggregate principal amount of term loans (the “Term A-1 Loans”), available to be drawn at the closing date;•$20,000 aggregate principal amount of term loans (the “Term A-2 Loans”), as described further below;•$20,000 aggregate principal amount of delayed draw term loans (the “Term B Loans”), which are available to be drawn for a period of 18-months following the closing date, subject to certain conditions set forth in the Monroe Credit Agreement; and•subject to certain conditions set forth in the Monroe Credit Agreement, the ability to incur incremental commitments of up to $60,000 aggregate principal amount of Term A-1 Loans or Term B Loans (the “Incremental Term Loans”; the Term A-1 Loans, the Term A-2 Loans, the Term B Loans and, if applicable, the Incremental Term Loans, collectively, the “Monroe Term Loans”).
CY2022Q1 us-gaap Borrowings Under Guaranteed Investment Agreements
BorrowingsUnderGuaranteedInvestmentAgreements
70000000.0
CY2022Q1 us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
24000000.0
us-gaap Debt Instrument Description
DebtInstrumentDescription
The Term A-1 Loans and Term B Loans bear annual interest, payable monthly, at a floating rate measured by reference to, at the Company’s option, either (a) a base rate then in effect (equal to the greater of (i) the federal funds rate plus 0.50%, (ii) the prime rate, (iii) 2.00% and (iv) an adjusted one-month Secured Overnight Financing Rate (“SOFR”) (subject to a floor of 1.00%) plus 1.00%) plus an applicable margin ranging from 6.00% to 8.25% per annum, depending on whether the “EBITDA Trigger Date” has occurred, the Company’s “Enterprise Value” and, once the EBITDA Trigger Date has occurred, its “Total Debt to EBITDA Ratio” (as such terms are defined in the Monroe Credit Agreement) or (b) an adjusted one-month or three-month SOFR (subject to a floor of 1.00%) plus an applicable margin ranging from 7.00% to 9.25% per annum, depending on whether the EBITDA Trigger Date has occurred, the Company’s Enterprise Value and, once the EBITDA Trigger Date has occurred, its Total Debt to EBITDA Ratio. The Term A-2 Loans bear annual interest, payable monthly, at the greater of (i) 12% and (ii) a floating rate measured by reference to the prime rate plus 5.75% per annum, subject to a cap of 15%. The interest rate as of June 30, 2022 on the Term A-1 Loans and Term A-2 Loans was 9.50% and 12.00%, respectively.
ml Federal Funds Rate Percentage
FederalFundsRatePercentage
0.0050
ml Net Cash Proceeds Percentage
NetCashProceedsPercentage
1
CY2022Q2 ml Percentage Of Extraordinary Cash Receipts To Be Used For Prepayment Of Term Loans
PercentageOfExtraordinaryCashReceiptsToBeUsedForPrepaymentOfTermLoans
1
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
748000
us-gaap Operating Lease Cost
OperatingLeaseCost
1368000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1424000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3806000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3060000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2622000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1268000
CY2022Q2 ml Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
1672000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
13852000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4116000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
9736000
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.139
CY2022Q2 us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Goodwill And Intangible Assets
DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceGoodwillAndIntangibleAssets
76322000
CY2021Q4 us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Goodwill And Intangible Assets
DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceGoodwillAndIntangibleAssets
83153000
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-6800000
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
8200000
CY2022Q2 us-gaap Deferred Tax Assets Frequent Flier Liability
DeferredTaxAssetsFrequentFlierLiability
28400000
ml Offsetting Increase Decrease To Valuation Allowance
OffsettingIncreaseDecreaseToValuationAllowance
21600000
CY2022Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
788200000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
517700000
us-gaap Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
U.S. federal net operating loss carryforwards begin to expire in 2033, and state operating loss carryforwards begin to expire in 2027.
CY2022Q1 us-gaap Income Tax Reconciliation Nondeductible Expense Research And Development
IncomeTaxReconciliationNondeductibleExpenseResearchAndDevelopment
1200000
ml Current Carryforwards Expiration Term
CurrentCarryforwardsExpirationTerm
If not used, the current carryforwards will expire beginning in 2034.
us-gaap Common Stock Voting Rights
CommonStockVotingRights
one
us-gaap Preferred Stock Conversion Basis
PreferredStockConversionBasis
Shares of Series A Convertible Redeemable Preferred Stock are convertible into shares of MoneyLion Class A Common Stock on a one-for-one basis, subject to customary anti-dilution adjustments.
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
5248000
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1321000
us-gaap Share Based Compensation
ShareBasedCompensation
8516000
us-gaap Share Based Compensation
ShareBasedCompensation
1839000
CY2021 ml Shares Payable
SharesPayable
35000000
ml Earnout Valuation
EarnoutValuation
23721000
CY2021 ml Earnout Valuation
EarnoutValuation
29561000
CY2022Q2 us-gaap Profit Loss
ProfitLoss
-23065000
CY2021Q2 us-gaap Profit Loss
ProfitLoss
-39213000
us-gaap Profit Loss
ProfitLoss
-33043000
us-gaap Profit Loss
ProfitLoss
-112619000
CY2021Q2 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsRedeemable
3077000
us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsRedeemable
5844000
CY2022Q2 ml Reversal Of Previously Accruedaccrued Dividends On Redeemable Convertible Preferred Stocks
ReversalOfPreviouslyAccruedaccruedDividendsOnRedeemableConvertiblePreferredStocks
-2176000
CY2021Q2 ml Reversal Of Previously Accruedaccrued Dividends On Redeemable Convertible Preferred Stocks
ReversalOfPreviouslyAccruedaccruedDividendsOnRedeemableConvertiblePreferredStocks
-4985000
ml Reversal Of Previously Accruedaccrued Dividends On Redeemable Convertible Preferred Stocks
ReversalOfPreviouslyAccruedaccruedDividendsOnRedeemableConvertiblePreferredStocks
-3204000
ml Reversal Of Previously Accruedaccrued Dividends On Redeemable Convertible Preferred Stocks
ReversalOfPreviouslyAccruedaccruedDividendsOnRedeemableConvertiblePreferredStocks
-9827000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-25241000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-47275000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-36247000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-128290000
CY2022Q2 ml Weightedaverage Common Shares Outstanding Basic And Dilutedin Shares
WeightedaverageCommonSharesOutstandingBasicAndDilutedinShares
236313189
CY2021Q2 ml Weightedaverage Common Shares Outstanding Basic And Dilutedin Shares
WeightedaverageCommonSharesOutstandingBasicAndDilutedinShares
48641247
ml Weightedaverage Common Shares Outstanding Basic And Dilutedin Shares
WeightedaverageCommonSharesOutstandingBasicAndDilutedinShares
233540639
ml Weightedaverage Common Shares Outstanding Basic And Dilutedin Shares
WeightedaverageCommonSharesOutstandingBasicAndDilutedinShares
48496136
CY2022Q2 ml Earnings Per Share Attributable To Common Stockholders Basic And Diluted
EarningsPerShareAttributableToCommonStockholdersBasicAndDiluted
-0.11
CY2021Q2 ml Earnings Per Share Attributable To Common Stockholders Basic And Diluted
EarningsPerShareAttributableToCommonStockholdersBasicAndDiluted
-0.97
ml Earnings Per Share Attributable To Common Stockholders Basic And Diluted
EarningsPerShareAttributableToCommonStockholdersBasicAndDiluted
-0.16
ml Earnings Per Share Attributable To Common Stockholders Basic And Diluted
EarningsPerShareAttributableToCommonStockholdersBasicAndDiluted
-2.65
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
133326635
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
170017583
CY2022Q2 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
7485000
us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
11057000
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
14514000000
CY2022Q2 ml Shares Exchange
SharesExchange
8883228
CY2022Q2 ml Common Stock Option To Acquire
CommonStockOptionToAcquire
5901846
ml Common Stock Vested Option Value
CommonStockVestedOptionValue
8963000
CY2022Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
8000000
ml Earnout Value
EarnoutValue
45336000
ml Business Combination Purchase Price
BusinessCombinationPurchasePrice
271030000
CY2022Q2 us-gaap Capital Units
CapitalUnits
5703000
CY2022Q2 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
2868000
CY2022Q2 us-gaap Preferred Stock Value
PreferredStockValue
30458000
CY2022Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-15965000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-14877000
CY2022Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
87340000
CY2021Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
51196000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
166153000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
92799000
CY2022Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-23065000
CY2021Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-47243000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-8971000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-129600000
ml Debt Facilities
DebtFacilities
2196000
ml Restricted Share Amount
RestrictedShareAmount
35000000

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