2021 Q4 Form 10-K Financial Statement

#000178116222000023 Filed on March 09, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $0.00 $330.0K $0.00
YoY Change -9.59%
Cost Of Revenue -$100.0K
YoY Change -127.17%
Gross Profit $465.0K
YoY Change -15600.0%
Gross Profit Margin 140.91%
Selling, General & Admin $13.10M $48.91M $2.940M
YoY Change 345.68% 309.42%
% of Gross Profit 10517.2%
Research & Development $11.57M $51.32M
YoY Change 125.9%
% of Gross Profit 11036.77%
Depreciation & Amortization $324.0K $1.000M
YoY Change 66.67%
% of Gross Profit 215.05%
Operating Expenses $24.68M $100.2M $2.940M
YoY Change 739.35% 189.14%
Operating Profit -$99.76M
YoY Change 187.78%
Interest Expense $0.00 $14.23M $50.00K
YoY Change -100.0% 2927.45%
% of Operating Profit
Other Income/Expense, Net $27.51M $220.4M
YoY Change -180.93%
Pretax Income -$2.729M $120.7M -$2.900M
YoY Change -5.9% -139.3%
Income Tax $1.000K $2.000K $0.00
% Of Pretax Income 0.0%
Net Earnings -$2.730M $120.7M -$2.900M
YoY Change -5.86% -139.3%
Net Earnings / Revenue 36561.82%
Basic Earnings Per Share $1.85
Diluted Earnings Per Share -$33.67K $1.70 -$6.59
COMMON SHARES
Basic Shares Outstanding 81.21M shares 65.18M shares
Diluted Shares Outstanding 70.92M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $160.0M $160.0M $200.0K
YoY Change 79918.0% 79900.0% -81.82%
Cash & Equivalents $160.0M $160.0M $23.01M
Short-Term Investments
Other Short-Term Assets $9.628M $9.600M $400.0K
YoY Change 2307.0% 2300.0% 33.33%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $169.7M $169.7M $27.61M
YoY Change 514.44% 28183.33% 1872.36%
LONG-TERM ASSETS
Property, Plant & Equipment $4.829M $12.40M $2.321M
YoY Change 108.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $173.1M
YoY Change 0.17%
Other Assets $3.065M $3.400M $2.740M
YoY Change 11.86%
Total Long-Term Assets $16.16M $16.10M $8.707M
YoY Change 85.61% -90.7% -94.96%
TOTAL ASSETS
Total Short-Term Assets $169.7M $169.7M $27.61M
Total Long-Term Assets $16.16M $16.10M $8.707M
Total Assets $185.8M $185.8M $36.32M
YoY Change 411.63% 6.97% -79.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.911M $1.900M $1.863M
YoY Change 2.58%
Accrued Expenses $9.785M $11.00M $3.064M
YoY Change 219.35% 340.0% 2964.0%
Deferred Revenue $0.00 $1.914M
YoY Change -100.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $20.91M $20.90M
YoY Change
Total Short-Term Liabilities $38.87M $38.90M $7.314M
YoY Change 431.41% 1456.0% 3557.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $483.0K $15.10M $49.00K
YoY Change 885.71% 118.84% -99.29%
Total Long-Term Liabilities $15.07M $15.10M $318.5M
YoY Change -95.27% 118.84% 4515.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.87M $38.90M $7.314M
Total Long-Term Liabilities $15.07M $15.10M $318.5M
Total Liabilities $53.94M $53.90M $325.8M
YoY Change -83.44% 473.4% 4488.62%
SHAREHOLDERS EQUITY
Retained Earnings -$208.7M -$329.3M
YoY Change -36.64%
Common Stock $1.000K $1.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $131.9M $131.9M -$289.5M
YoY Change
Total Liabilities & Shareholders Equity $185.8M $185.8M $36.32M
YoY Change 411.63% 6.97% -79.15%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$2.730M $120.7M -$2.900M
YoY Change -5.86% -139.3%
Depreciation, Depletion And Amortization $324.0K $1.000M
YoY Change 66.67%
Cash From Operating Activities -$14.58M -$86.71M -$590.0K
YoY Change 2371.69% 166.53% 63.89%
INVESTING ACTIVITIES
Capital Expenditures -$239.0K $2.972M
YoY Change 97.87%
Acquisitions
YoY Change
Other Investing Activities $20.00K
YoY Change -100.01%
Cash From Investing Activities -$238.0K -$3.090M $20.00K
YoY Change -1290.0% 93.0% -100.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$88.17M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.824M $226.8M 0.000
YoY Change 407.97% -100.0%
NET CHANGE
Cash From Operating Activities -14.58M -$86.71M -590.0K
Cash From Investing Activities -238.0K -$3.090M 20.00K
Cash From Financing Activities -3.824M $226.8M 0.000
Net Change In Cash -18.64M $137.0M -570.0K
YoY Change 3171.05% 1202.66% -152.29%
FREE CASH FLOW
Cash From Operating Activities -$14.58M -$86.71M -$590.0K
Capital Expenditures -$239.0K $2.972M
Free Cash Flow -$14.34M -$89.68M
YoY Change 163.5%

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CY2020 mnts Proceeds From Issuance Of Financial Instruments Subject To Mandatory Redemption
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44650000 USD
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CY2020 us-gaap Proceeds From Short Term Debt
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2458000 USD
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336000 USD
CY2020 us-gaap Proceeds From Stock Options Exercised
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91000 USD
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151000 USD
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10519000 USD
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23520000 USD
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23520000 USD
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CY2021 mnts Issuance Of Common Stock Warrant Liabilities Exercised
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2610000 USD
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0 USD
CY2021 mnts Deferred Offering Costs Incurred During Noncash Or Partial Noncash Transaction Included In Accounts Payable And Accrued Expenses
DeferredOfferingCostsIncurredDuringNoncashOrPartialNoncashTransactionIncludedInAccountsPayableAndAccruedExpenses
0 USD
CY2020 mnts Deferred Offering Costs Incurred During Noncash Or Partial Noncash Transaction Included In Accounts Payable And Accrued Expenses
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506000 USD
CY2021 mnts Warrant Liabilities Recognized Upon The Closing Of The Reverse Recapitalization
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CY2020 mnts Warrant Liabilities Recognized Upon The Closing Of The Reverse Recapitalization
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0 USD
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2020 us-gaap Income Taxes Paid Net
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CY2021 us-gaap Interest Paid Net
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CY2020 us-gaap Interest Paid Net
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CY2021 us-gaap Nature Of Operations
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Nature of Operations<div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">The Company</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Momentus Inc. (together with its consolidated subsidiaries “Momentus” or the “Company”) is a U.S. commercial space company that plans to offer in-space infrastructure services, including in-space transportation, hosted payloads and in-orbit services. Momentus believes it can make new ways of operating in space possible with its planned in-space transfer and service vehicles that will be powered by an innovative water plasma-based propulsion system that is under development. The Company anticipates flying its Vigoride vehicle to Low Earth Orbit on a third-party launch provider as early as June 2022, </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">subject to receipt of licenses and government approvals, and successful completion of our current efforts to get the system ready for flight.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Background and Business Combination</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 12, 2021 (the “Closing Date”), the Company consummated a merger pursuant to a certain agreement and plan of merger, dated October 7, 2020, and as amended on March 5, 2021, April 6, 2021, and June 29, 2021 (the “Merger Agreement”), by and among Stable Road Acquisition Corp (“SRAC”), Project Marvel First Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of SRAC (“First Merger Sub”), and Project Marvel Second Merger Sub, LLC, a Delaware limited liability company and a direct, wholly owned subsidiary of SRAC (“Second Merger Sub”), pursuant to which First Merger Sub merged with and into Momentus Inc., a Delaware corporation (“Legacy Momentus”) with Legacy Momentus as the surviving corporation of the First Merger Sub, and immediately following which Legacy Momentus merged with and into the Second Merger Sub, with the Second Merger Sub as the surviving entity (the “Business Combination”). In connection with the closing of the Business Combination (the “Closing”), the Company changed its name from Stable Road Acquisition Corp. to Momentus Inc., and Legacy Momentus changed its name to Momentus Space, LLC. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Business Combination was accounted for as a reverse recapitalization under ASC Topic 805, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Business Combinations</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ("ASC 805") in accordance with accounting principles generally accepted in the United States (“GAAP”). Under this method of accounting, SRAC, who was the legal acquirer, is treated as the “acquired” company for financial reporting purposes and Legacy Momentus is treated as the accounting acquirer. Accordingly, for accounting purposes, the Business Combination is treated as the equivalent of a capital transaction in which Legacy Momentus issued stock for the net assets of SRAC, with no goodwill or other intangible assets recorded, and Legacy Momentus’ financial statements became those of the Company. Reported shares and earnings per share available to holders of the Company’s common stock, prior to the Business Combination, have been retroactively restated as shares reflecting the exchange ratio established in the Business Combination. See Note 3 for more information.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the Amended and Restated Certificate of Incorporation of the Company, at the Closing, each share of SRAC’s Class B Common Stock, par value $0.0001 per share (the “Class B Common Stock”), converted into one share of SRAC’s Class A Common Stock. After the Closing and following the effectiveness of the Second Amended and Restated Certificate of Incorporation of the Company, each share of Class A Common Stock was automatically reclassified, redesignated and changed into one validly issued, fully paid and non-assessable share of the Company’s Common Stock, par value $0.00001 per share (the “Common Stock”), without any further action by the Company or any stockholder thereof. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prior to the Business Combination, SRAC’s units, public shares, and public warrants were listed on the Nasdaq under the symbols “SRACU,” “SRAC,” and “SRACW,” respectively. On August 13, 2021, the Company's Class A common stock and public warrants began trading on the Nasdaq, under the symbols “MNTS” and “MNTSW,” respectively.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 7, 2020 and July 15, 2021, SRAC entered into subscription agreements with certain investors (the “PIPE Investors”) to which such investors collectively subscribed for an aggregate of 11,000,000 shares of the Company’s Class A common stock at $10.00 per share for aggregate gross proceeds of $110.0 million (the “PIPE Investment”). The PIPE Investors were also granted an equal number of private warrants to purchase the Company’s Class A common stock at $11.50 per share. The warrants were recorded as a derivative liability under ASC 815, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Derivatives </span></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">and Hedging</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and the warrant liability was initially valued at $30.5 million. See Note 11 for more information. The PIPE Investment was consummated concurrently with the closing of the Business Combination.</span>
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.00001
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CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2021Q2 mnts Number Of Launch Agreements Terminated
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2 agreement
CY2021 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the fourth quarter of 2021, we modified the presentation of cash flows related to the Business Combination. The presented impact of the issuance costs allocated to expense (described in Note 3), was moved into the issuance costs line. Additionally the presentation of capitalized issuance costs which were paid during the two quarters prior to the Business Combination was updated to present those expenditures within cash flows from financing activities, rather than cash flows from operations. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain reclassifications have been made to the prior year’s financial statements to conform to the current year’s presentation. None of the reclassifications have changed the total assets, liabilities, stockholders’ deficit, income, expenses or net losses previously reported.</span></div>
CY2021 us-gaap Use Of Estimates
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The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Management bases its estimates on historical experience and on various other factors it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Accordingly, actual results could differ from those estimates. Significant estimates inherent in the preparation of the consolidated financial statements include, but are not limited to, accounting for useful lives of property, machinery and equipment, net, intangible assets, net, accrued liabilities, income taxes including deferred tax assets and liabilities, impairment valuation, stock-based awards, SAFE notes and warrant liabilities.
CY2021 us-gaap Impairment Of Ongoing Project
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CY2021 us-gaap Impairment Of Ongoing Project
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2600000 USD
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
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1600000 USD
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300000 USD
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CY2021Q3 mnts Reverse Recapitalization Percentage Of Voting Interests Sold
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1
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238400000 USD
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35600000 USD
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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22927491 shares
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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560000 USD
CY2021 us-gaap Concentration Risk Credit Risk
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Financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents. The Company places its cash and cash equivalents in banks that management believes are creditworthy, however deposits may exceed federally insured limits.
CY2021 us-gaap Number Of Reportable Segments
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1 segment
CY2021 us-gaap Number Of Operating Segments
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CY2021Q3 mnts Reverse Recapitalization Impact On Shareholders Equity
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CY2021Q3 mnts Reverse Recapitalization Transaction Costs
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4800000 USD
CY2021Q3 mnts Recapitalization Exchange Ratio
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0.2467416
CY2021Q3 mnts Recapitalization Exchange Ratio
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0.2467416
CY2021Q3 mnts Recapitalization Exchange Ratio
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0.2467416
CY2021Q3 mnts Recapitalization Exchange Ratio
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0.2467416
CY2021Q3 mnts Reverse Recapitalization Contingent Consideration Equity Non Transfer Period
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P6M
CY2021Q3 mnts Reverse Recapitalization Contingent Consideration Equity Non Transfer Period Stock Price Trigger
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12
CY2021Q3 mnts Reverse Recapitalization Contingent Consideration Equity Non Transfer Period Threshold Trading Days
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20 tradingDay
CY2021Q3 mnts Reverse Recapitalization Contingent Consideration Equity Non Transfer Period Threshold Consecutive Trading Days
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30 tradingDay
CY2021Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
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11000000 shares
CY2021Q3 us-gaap Proceeds From Issuance Of Private Placement
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CY2021Q3 us-gaap Sale Of Stock Price Per Share
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10
CY2021Q3 us-gaap Warrants And Rights Outstanding
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CY2020 mnts Other Impairment Of Ongoing Project
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200000 USD
CY2021Q4 mnts Prepaid Research And Development Expense Current
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4870000 USD
CY2020Q4 mnts Prepaid Research And Development Expense Current
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1452000 USD
CY2021Q4 mnts Prepaid Launch Costs Current
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0 USD
CY2020Q4 mnts Prepaid Launch Costs Current
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2260000 USD
CY2021Q4 mnts Prepaid Insurance And Other Assets Current
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4562000 USD
CY2020Q4 mnts Prepaid Insurance And Other Assets Current
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796000 USD
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
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CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
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CY2021Q4 mnts Prepaid Launch Costs Noncurrent
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CY2020Q4 mnts Prepaid Launch Costs Noncurrent
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CY2021 us-gaap Impairment Of Ongoing Project
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CY2021 us-gaap Impairment Of Ongoing Project
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8700000 USD
CY2021 mnts Other Impairment Of Ongoing Project
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800000 USD
CY2020 us-gaap Impairment Of Ongoing Project
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1500000 USD
CY2021Q4 mnts Deferred Fulfillment And Prepaid Launch Costs Recoveries
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2700000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
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CY2020Q4 us-gaap Property Plant And Equipment Gross
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1827000 USD
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782000 USD
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4829000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
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2321000 USD
CY2021 us-gaap Depreciation
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CY2020 us-gaap Depreciation
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CY2020 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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0 USD
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CY2021 us-gaap Amortization Of Intangible Assets
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50000.00 USD
CY2020 us-gaap Amortization Of Intangible Assets
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30000.00 USD
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57000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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57000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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50000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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43000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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43000 USD
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99000 USD
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349000 USD
CY2021 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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20000.00 USD
CY2021Q4 mnts Lessee Operating Lease Number Of Leases Modified
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2 lease
CY2021 us-gaap Operating Lease Expense
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1700000 USD
CY2020 us-gaap Operating Lease Expense
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300000 USD
CY2021 us-gaap Operating Lease Cost
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1742000 USD
CY2020 us-gaap Operating Lease Cost
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272000 USD
CY2021 us-gaap Variable Lease Cost
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590000 USD
CY2020 us-gaap Variable Lease Cost
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24000 USD
CY2021 us-gaap Short Term Lease Cost
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19000 USD
CY2020 us-gaap Short Term Lease Cost
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9000 USD
CY2021 us-gaap Lease Cost
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2351000 USD
CY2020 us-gaap Lease Cost
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305000 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
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CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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1189000 USD
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254000 USD
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7284000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
72000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
8473000 USD
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OperatingLeaseLiability
326000 USD
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1634000 USD
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1580000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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1627000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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1674000 USD
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CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
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10074000 USD
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1601000 USD
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8473000 USD
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1240000 USD
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517000 USD
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0 USD
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CY2021Q3 mnts Stock Issued During Period Value Conversion Of Safe Notes
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CY2021Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Maximum Amount
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0 USD
CY2020Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Maximum Amount
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CY2021 mnts Fair Value Adjustment To Financial Instruments Subject To Mandatory Redemption
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209300000 USD
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-267300000 USD
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0 shares
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0 shares
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CY2021Q3 us-gaap Common Stock Shares Outstanding
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CommonStockPercentageOfOwnershipAfterReverseRecapitalization
1
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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11.5
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7422995 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.20
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y5M26D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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130564000 USD
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
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1535804 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
17487000 USD
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1830842 shares
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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0.27
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M2D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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15825000 USD
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CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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21787929 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.26
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y2M12D
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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10379000 USD
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y4M2D
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
15825000 USD
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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10400000 USD
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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55600000 USD
CY2021 us-gaap Allocated Share Based Compensation Expense
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18452000 USD
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2771000 USD
CY2021 us-gaap Net Income Loss
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5438952 shares
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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
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IncrementalCommonSharesAttributableToCallOptionsAndWarrants
301952 shares
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IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
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1.70
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.90
CY2021Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
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10216000 USD
CY2021Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
11300000 USD
CY2021Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
0 USD
CY2021Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
0 USD
CY2021Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fifth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary
0 USD
CY2021Q4 us-gaap Unrecorded Unconditional Purchase Obligation Due After Five Years
UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears
0 USD
CY2021Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
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21516000 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
120656000 USD
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-307026000 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
120656000 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
17900000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-307026000 USD
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2000 USD
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1000 USD
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000 USD
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
25338000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-64475000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-8446000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.070
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-3152000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.010
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
3426000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.028
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
56588000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.184
CY2021 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
51790000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
EffectiveIncomeTaxRateReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
0.429
CY2020 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
0 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
EffectiveIncomeTaxRateReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
0
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
171000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-1000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0
CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
1333000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.011
CY2020 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
1070000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.003
CY2021 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
336000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.003
CY2020 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
268000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
-0.001
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
32300000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.268
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
11843000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.039
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2000 USD
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000 USD
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
16473000 USD
CY2020Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
567000 USD
CY2021Q4 mnts Deferred Tax Assets Start Up And Organizational Costs
DeferredTaxAssetsStartUpAndOrganizationalCosts
15311000 USD
CY2020Q4 mnts Deferred Tax Assets Start Up And Organizational Costs
DeferredTaxAssetsStartUpAndOrganizationalCosts
4280000 USD
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
10350000 USD
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
8812000 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
3758000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
2340000 USD
CY2021Q4 mnts Deferred Tax Assets Leasing Arrangements
DeferredTaxAssetsLeasingArrangements
2381000 USD
CY2020Q4 mnts Deferred Tax Assets Leasing Arrangements
DeferredTaxAssetsLeasingArrangements
91000 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1457000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
171000 USD
CY2021Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
893000 USD
CY2020Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
889000 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
1070000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
504000 USD
CY2021Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
586000 USD
CY2020Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
289000 USD
CY2021Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
26000 USD
CY2020Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
14000 USD
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
52305000 USD
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
17957000 USD
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
50168000 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
17869000 USD
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
2137000 USD
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
88000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
2137000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
88000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
0 USD
CY2020Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
0 USD
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
2137000 USD
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
88000 USD
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 USD
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 USD
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
50200000 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
780000 USD
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
62000 USD
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
535000 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1253000 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense
DeferredTaxAssetsTaxDeferredExpense
54500000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense
DeferredTaxAssetsTaxDeferredExpense
15300000 USD
CY2021 mnts Number Of Leases Resulting In Deferred Tax Assets And Liabilities
NumberOfLeasesResultingInDeferredTaxAssetsAndLiabilities
3 lease
CY2021Q4 mnts Deferred Tax Assets Leasing Arrangements
DeferredTaxAssetsLeasingArrangements
2400000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
2100000 USD

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