2023 Q1 Form 10-K Financial Statement

#000178116223000015 Filed on March 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $22.00K $120.0K $299.0K
YoY Change -9.39%
Cost Of Revenue $0.00 $26.00K
YoY Change -126.0%
Gross Profit $22.00K $120.0K $273.0K
YoY Change -41.29%
Gross Profit Margin 100.0% 100.0% 91.3%
Selling, General & Admin $10.27M $10.93M $49.83M
YoY Change -30.86% -16.59% 1.89%
% of Gross Profit 46681.82% 9107.5% 18251.65%
Research & Development $10.12M $10.28M $41.72M
YoY Change 1.48% -11.15% -18.71%
% of Gross Profit 45995.45% 8569.17% 15282.42%
Depreciation & Amortization $200.0K $259.0K $1.000M
YoY Change -33.33% -20.06% 0.0%
% of Gross Profit 909.09% 215.83% 366.3%
Operating Expenses $20.39M $21.21M $91.55M
YoY Change -17.87% -14.04% -8.66%
Operating Profit -$20.37M -$21.09M -$91.28M
YoY Change -17.95% -8.51%
Interest Expense $920.0K -$607.0K $5.262M
YoY Change -38.34% -63.02%
% of Operating Profit
Other Income/Expense, Net -$458.0K $1.813M -$4.169M
YoY Change -77.21% -93.41% -101.89%
Pretax Income -$20.83M -$24.44M -$95.44M
YoY Change -22.39% 795.57% -179.1%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$20.80M -$24.44M -$95.44M
YoY Change -22.49% 795.24% -179.11%
Net Earnings / Revenue -94545.45% -20366.67% -31921.07%
Basic Earnings Per Share -$0.24 -$1.17
Diluted Earnings Per Share -$0.24 -$0.30 -$1.17
COMMON SHARES
Basic Shares Outstanding 94.06M shares 84.15M shares 81.55M shares
Diluted Shares Outstanding 87.56M shares 81.55M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $38.63M $61.09M $61.09M
YoY Change -71.51% -61.82% -61.82%
Cash & Equivalents $38.60M $61.09M $61.09M
Short-Term Investments
Other Short-Term Assets $10.40M $11.18M $11.18M
YoY Change 28.69% 16.12% 16.46%
Inventory
Prepaid Expenses
Receivables $0.00
Other Receivables
Total Short-Term Assets $53.03M $76.27M $76.27M
YoY Change -63.09% -55.04% -55.05%
LONG-TERM ASSETS
Property, Plant & Equipment $3.844M $4.016M $10.46M
YoY Change -18.66% -16.84% -15.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.670M $4.712M $5.355M
YoY Change -18.78% 53.74% 57.5%
Total Long-Term Assets $15.81M $16.15M $16.15M
YoY Change -15.63% -0.07% 0.3%
TOTAL ASSETS
Total Short-Term Assets $53.03M $76.27M $76.27M
Total Long-Term Assets $15.81M $16.15M $16.15M
Total Assets $68.84M $92.42M $92.42M
YoY Change -57.62% -50.26% -50.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.092M $2.239M $2.239M
YoY Change -36.39% 17.16% 17.84%
Accrued Expenses $6.496M $8.026M $9.179M
YoY Change -32.11% -17.98% -16.55%
Deferred Revenue $2.136M $1.654M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $11.29M $11.63M $11.63M
YoY Change 19.7% -44.39% -44.37%
Total Short-Term Liabilities $31.73M $43.23M $43.23M
YoY Change -8.08% 11.22% 11.12%
LONG-TERM LIABILITIES
Long-Term Debt $171.0K $2.404M $2.404M
YoY Change -98.49%
Other Long-Term Liabilities $471.0K $465.0K $8.186M
YoY Change -3.48% -3.73% -45.79%
Total Long-Term Liabilities $8.165M $10.59M $10.59M
YoY Change -69.36% -29.73% -29.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.73M $43.23M $43.23M
Total Long-Term Liabilities $8.165M $10.59M $10.59M
Total Liabilities $39.90M $53.82M $53.82M
YoY Change -34.78% -0.22% -0.16%
SHAREHOLDERS EQUITY
Retained Earnings -$325.0M -$304.1M
YoY Change 37.99% 45.74%
Common Stock $1.000K $1.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $28.95M $38.61M $38.61M
YoY Change
Total Liabilities & Shareholders Equity $68.84M $92.42M $92.42M
YoY Change -57.62% -50.26% -50.26%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$20.80M -$24.44M -$95.44M
YoY Change -22.49% 795.24% -179.11%
Depreciation, Depletion And Amortization $200.0K $259.0K $1.000M
YoY Change -33.33% -20.06% 0.0%
Cash From Operating Activities -$18.70M -$16.39M -$87.89M
YoY Change -18.91% 12.4% 1.36%
INVESTING ACTIVITIES
Capital Expenditures $43.00K $119.0K $583.0K
YoY Change -85.17% -149.79% -80.38%
Acquisitions
YoY Change
Other Investing Activities $27.00K $34.00K
YoY Change
Cash From Investing Activities -$52.00K -$92.00K -$733.0K
YoY Change -90.02% -61.34% -76.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$3.793M -3.270M -$9.514M
YoY Change 304.37% -14.49% -104.19%
NET CHANGE
Cash From Operating Activities -$18.70M -16.39M -$87.89M
Cash From Investing Activities -$52.00K -92.00K -$733.0K
Cash From Financing Activities -$3.793M -3.270M -$9.514M
Net Change In Cash -$22.54M -19.75M -$98.13M
YoY Change -8.07% 5.95% -171.62%
FREE CASH FLOW
Cash From Operating Activities -$18.70M -$16.39M -$87.89M
Capital Expenditures $43.00K $119.0K $583.0K
Free Cash Flow -$18.74M -$16.51M -$88.47M
YoY Change -19.74% 15.11% -1.35%

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137027000 usd
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160547000 usd
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CY2021 mnts Conversion Of Simple Agreement For Future Equity Issuance To Common Stock
ConversionOfSimpleAgreementForFutureEquityIssuanceToCommonStock
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CY2022 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-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 offers 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. </span></div><div style="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 May 4, 2022, the Company received a favorable determination from the Federal Aviation Administration (the “FAA”) of its application for payload review, which was the final regulatory milestone needed to support the Company’s inaugural flight of the Vigoride orbital service vehicle (Vigoride 3) in May 2022. The FAA favorable determination followed a license from the Federal Communications Commission (the “FCC”) received on April 28, 2022, and updates to existing licenses from the National Oceanic and Atmospheric Administration (the “NOAA”).</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 May 25, 2022, the Company launched Vigoride 3 to low-earth orbit aboard the SpaceX Transporter-5 mission. In addition to Vigoride 3, Momentus used a second port on the same SpaceX mission to fly a third-party deployer from a partner company. On May 25, 2022, Momentus used the third-party deployer to place its first customer satellite in orbit. </span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 26, 2022, upon establishing two-way contact between Vigoride 3 in low-earth orbit and a ground station on Earth, Momentus discovered that Vigoride 3 had experienced certain anomalies after its launch, primarily relating to its deployable solar arrays, which provide power to the spacecraft and its subsystems. The Company quickly worked to address the anomalies, identify root causes and pursue solutions to be implemented in advance of future missions.</span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company determined that Vigoride 3’s deployable solar arrays, which are produced by a third party, and are folded and stowed during launch, did not operate as intended once in orbit. This resulted in low power and communications issues with the spacecraft. Meanwhile, the spacecraft's fixed, body-mounted solar panels appeared to have worked as intended and were able to provide some power to the spacecraft. The Company and the producer of the solar arrays identified a mechanical issue as the root cause of the deployable arrays not operating as intended. The Company also identified the root cause of the anomalies that it experienced with other spacecraft systems during the low-power state.</span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 28, 2022, Momentus was able to deploy two customer satellites from Vigoride 3 (of nine total customer satellites onboard Vigoride 3). The Company then continued efforts to deploy other customer satellites. While Momentus initially established two-way communications with Vigoride 3, it was unable to continue such two-way communication given the spacecraft's low-power state. Momentus has been using an unplanned frequency to work through the anomalies and applied for a 30-day Special Temporary Authority (“STA”) from the FCC to properly comply with the FCC’s radio frequency transmission requirements. On June 9, 2022, the Company received approval of a 30-day STA from the FCC as requested, which the FCC extended for an additional 30 days on July 13, 2022. Momentus continued to apply for 30-day extensions for its STA prior to expiration, which the FCC has granted in each case, through October 20, 2022.</span></div><div style="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%">While Momentus was unable to re-establish two-way communication with Vigoride 3, it continued to broadcast commands to the spacecraft from ground stations on Earth, including commands to deploy customer satellites. Additionally, Vigoride 3 was equipped with a mechanism designed to autonomously deploy customer satellites in the event of a sustained loss of communications with ground stations. </span></div><div style="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 third quarter of 2022, the Vigoride spacecraft deployed five additional customer satellites including two on July 17, 2022, two on July 29, 2022, and one at the end of August 2022. In total, Momentus deployed a total of eight customer satellites in low-earth orbit during its inaugural mission, comprising seven satellites from Vigoride 3 and one satellite from the third-party deployer system. The Company was unable and remains unable to confirm the deployment of the last two customer satellites that Vigoride 3 was carrying. The Company incorporated improvements identified during its inaugural mission in advance of its first follow-on mission and other planned follow-on missions.</span></div><div style="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 January 3, 2023, the Company launched Vigoride 5 to low-earth orbit aboard the SpaceX Transporter-6 mission. The mission is ongoing and Vigoride 5 is in good health as it undergoes a deliberate commissioning process in preparation for on-orbit operations. On Vigoride’s first orbital pass, Momentus confirmed that both solar arrays were deployed, and the vehicle was generating power and charging its batteries. As of the date of this Annual Report on Form 10-K, the vehicle’s power and temperatures continue to be within the nominal expected ranges. While Vigoride 5 is carrying two customer payloads, the primary mission objective is to test the spacecraft on orbit, learn from any issues that are encountered and implement lessons learned on future Vigoride vehicles and missions.</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 Company anticipates flying two additional missions with Vigoride during 2023. All future missions remain subject to the receipt of licenses and government approvals, and successful completion of our efforts to prepare our spacecraft for flight. The Company can offer no assurances that the vehicles that it plans to operate in future missions will be ready on time, or that they will operate as intended. Refer to “</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Risk Factors — We may not receive all required governmental licenses and approvals,” and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">“</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Risk Factors — We are dependent on the successful development of our satellite vehicles and related technology,” </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">under Part I, Item 1A: "</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Risk Factors</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">," in this Annual Report on Form 10-K.</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;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 Company consummated a merger pursuant to 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 (the “First Merger Sub”), and Project Marvel Second Merger Sub, LLC, a Delaware limited liability company and a direct, wholly owned subsidiary of SRAC (the “Second Merger Sub”), pursuant to which the 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;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 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;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 (“Common Stock”), without any further action by the Company or any stockholder thereof.</span></div><div style="margin-bottom: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 Common Stock and public warrants began trading on the Nasdaq, under the symbols “MNTS” and “MNTSW,” respectively.</span></div><div style="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 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 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 and Hedging</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span></div>(“ASC 815”) 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.
CY2022Q2 mnts Number Of Customer Satellites Deployed
NumberOfCustomerSatellitesDeployed
2 satellite
CY2022Q2 mnts Number Of Customer Satellites
NumberOfCustomerSatellites
9 satellite
CY2022Q2 mnts Special Temporary Authority Period
SpecialTemporaryAuthorityPeriod
P30D
CY2022Q2 mnts Special Temporary Authority Period
SpecialTemporaryAuthorityPeriod
P30D
CY2022Q2 mnts Special Temporary Authority Period
SpecialTemporaryAuthorityPeriod
P30D
CY2022Q2 mnts Special Temporary Authority Extension Period
SpecialTemporaryAuthorityExtensionPeriod
P30D
CY2022Q3 mnts Number Of Additional Customer Satellites Deployed
NumberOfAdditionalCustomerSatellitesDeployed
5 satellite
CY2022Q3 mnts Number Of Additional Customer Satellites Deployed
NumberOfAdditionalCustomerSatellitesDeployed
2 satellite
CY2022Q3 mnts Number Of Additional Customer Satellites Deployed
NumberOfAdditionalCustomerSatellitesDeployed
2 satellite
CY2022Q3 mnts Number Of Additional Customer Satellites Deployed
NumberOfAdditionalCustomerSatellitesDeployed
1 satellite
CY2022Q3 mnts Number Of Customer Satellites Deployed In Low Earth Orbit
NumberOfCustomerSatellitesDeployedInLowEarthOrbit
8 satellite
CY2022Q3 mnts Number Of Internal Customer Satellites Deployed In Low Earth Orbit
NumberOfInternalCustomerSatellitesDeployedInLowEarthOrbit
7 satellite
CY2022Q3 mnts Number Of Third Party Customer Satellites Deployed In Low Earth Orbit
NumberOfThirdPartyCustomerSatellitesDeployedInLowEarthOrbit
1 satellite
CY2022Q4 mnts Number Of Customer Satellites Not Deployed
NumberOfCustomerSatellitesNotDeployed
2 satellite
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0.00001
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CommonStockParOrStatedValuePerShare
0.00001
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11000000 shares
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SaleOfStockPricePerShare
10.00
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ProceedsFromIssuanceOfPrivatePlacement
110000000 usd
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30500000 usd
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CommonStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="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 third quarter of 2022, the Company reclassified certain cloud computing implementation costs from intangible assets to prepaid and other current assets, and other non-current assets to properly present the capitalized costs with their related subscription fees. In accordance with ASC 350,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Intangibles</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the Company presents capitalized implementation costs for cloud computing arrangements within the same line item that the prepayment of these fees would be presented. The reclassification was determined to be immaterial and will be accounted for prospectively.</span></div><div style="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-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 other reclassifications have been made to the prior year’s consolidated financial statements to conform to the current year’s presentation. None of the reclassifications have changed the total assets, liabilities, stockholders’ equity (deficit), income, expenses or net losses previously reported.</span></div>
CY2022 us-gaap Use Of Estimates
UseOfEstimates
The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the consolidated 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 compensation, Simple Agreement for Future Equity (“SAFE”) notes, warrant liabilities and repurchase liabilities.
CY2022Q4 mnts Deferred Fulfillment And Prepaid Launch Costs
DeferredFulfillmentAndPrepaidLaunchCosts
7400000 usd
CY2021Q4 mnts Deferred Fulfillment And Prepaid Launch Costs
DeferredFulfillmentAndPrepaidLaunchCosts
3000000 usd
CY2021 mnts Number Of Launch Agreements Terminated
NumberOfLaunchAgreementsTerminated
2 agreement
CY2022 us-gaap Impairment Of Ongoing Project
ImpairmentOfOngoingProject
8700000 usd
CY2022 us-gaap Impairment Of Ongoing Project
ImpairmentOfOngoingProject
8700000 usd
CY2021 mnts Other Impairment Of Ongoing Project
OtherImpairmentOfOngoingProject
800000 usd
CY2021Q4 mnts Deferred Fulfillment And Prepaid Launch Costs Recoveries
DeferredFulfillmentAndPrepaidLaunchCostsRecoveries
2700000 usd
CY2022Q2 mnts Number Of Customer Satellites Deployed
NumberOfCustomerSatellitesDeployed
2 satellite
CY2022Q2 mnts Number Of Customer Satellites
NumberOfCustomerSatellites
9 satellite
CY2022Q2 mnts Special Temporary Authority Period
SpecialTemporaryAuthorityPeriod
P30D
CY2022Q3 mnts Number Of Additional Customer Satellites Deployed
NumberOfAdditionalCustomerSatellitesDeployed
5 satellite
CY2022Q3 mnts Number Of Additional Customer Satellites Deployed
NumberOfAdditionalCustomerSatellitesDeployed
2 satellite
CY2022Q3 mnts Number Of Additional Customer Satellites Deployed
NumberOfAdditionalCustomerSatellitesDeployed
2 satellite
CY2022Q3 mnts Number Of Additional Customer Satellites Deployed
NumberOfAdditionalCustomerSatellitesDeployed
1 satellite
CY2022Q3 mnts Number Of Customer Satellites Deployed In Low Earth Orbit
NumberOfCustomerSatellitesDeployedInLowEarthOrbit
8 satellite
CY2022Q3 mnts Number Of Internal Customer Satellites Deployed In Low Earth Orbit
NumberOfInternalCustomerSatellitesDeployedInLowEarthOrbit
7 satellite
CY2022Q3 mnts Number Of Third Party Customer Satellites Deployed In Low Earth Orbit
NumberOfThirdPartyCustomerSatellitesDeployedInLowEarthOrbit
1 satellite
CY2022Q4 mnts Number Of Customer Satellites Not Deployed
NumberOfCustomerSatellitesNotDeployed
2 satellite
CY2022Q2 us-gaap Cost Of Revenue
CostOfRevenue
1200000 usd
CY2022Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
12000 usd
CY2022Q2 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
14000 usd
CY2022Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
600000 usd
CY2022Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
600000 usd
CY2022 mnts Prepaid Launch Costs Impairment
PrepaidLaunchCostsImpairment
1800000 usd
CY2022Q3 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
14000 usd
CY2022Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
1000000 usd
CY2021Q4 us-gaap Customer Refund Liability Current
CustomerRefundLiabilityCurrent
1400000 usd
CY2022 mnts Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
2700000 usd
CY2021 mnts Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
1600000 usd
CY2021Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
1600000 usd
CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
50000 usd
CY2022Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
133000 usd
CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
129000 usd
CY2022Q3 mnts Contract With Customer Liability Revenue Recognized For Cancelled Contracts
ContractWithCustomerLiabilityRevenueRecognizedForCancelledContracts
28000 usd
CY2022Q3 mnts Contract With Customer Liability Revenue Recognized Due To Uncertainties
ContractWithCustomerLiabilityRevenueRecognizedDueToUncertainties
101000 usd
CY2022Q3 mnts Contract With Customer Liability Variable Consideration
ContractWithCustomerLiabilityVariableConsideration
33000 usd
CY2022Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
120000 usd
CY2021 mnts Contract With Customer Liability Revenue Recognized For Cancelled Contracts
ContractWithCustomerLiabilityRevenueRecognizedForCancelledContracts
330000 usd
CY2021 mnts Reduction In Cost Of Goods And Services Sold
ReductionInCostOfGoodsAndServicesSold
135000 usd
CY2022Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2022Q4 mnts Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
1
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
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.
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2021Q3 mnts Reverse Recapitalization Percentage Of Voting Interests Sold
ReverseRecapitalizationPercentageOfVotingInterestsSold
1
CY2021Q3 mnts Reverse Recapitalization Proceeds Received From Shareholders
ReverseRecapitalizationProceedsReceivedFromShareholders
247300000 usd
CY2021Q3 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
110000000 usd
CY2021Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
137300000 usd
CY2021Q3 mnts Reverse Recapitalization Public Investment
ReverseRecapitalizationPublicInvestment
172500000 usd
CY2021Q3 mnts Reverse Recapitalization Redemptions
ReverseRecapitalizationRedemptions
35600000 usd
CY2021Q3 mnts Reverse Recapitalization Impact On Shareholders Equity
ReverseRecapitalizationImpactOnShareholdersEquity
8500000 usd
CY2021Q4 mnts Deferred Fulfillment And Prepaid Launch Costs Recoveries
DeferredFulfillmentAndPrepaidLaunchCostsRecoveries
2700000 usd
CY2021Q3 mnts Reverse Recapitalization Proceeds Received In Cash From Operations
ReverseRecapitalizationProceedsReceivedInCashFromOperations
400000 usd
CY2021Q3 mnts Reverse Recapitalization Net Proceeds Received From Shareholders
ReverseRecapitalizationNetProceedsReceivedFromShareholders
238800000 usd
CY2021Q3 mnts Payments Of Reverse Recapitalization Transaction Costs
PaymentsOfReverseRecapitalizationTransactionCosts
27800000 usd
CY2021Q3 mnts Reverse Recapitalization Transaction Costs
ReverseRecapitalizationTransactionCosts
4800000 usd
CY2021Q3 mnts Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
0.2467416
CY2021Q3 mnts Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
0.2467416
CY2021Q3 mnts Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
0.2467416
CY2021Q3 mnts Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
0.2467416
CY2021Q3 mnts Reverse Recapitalization Contingent Consideration Equity Non Transfer Period
ReverseRecapitalizationContingentConsiderationEquityNonTransferPeriod
P6M
CY2021Q3 mnts Reverse Recapitalization Contingent Consideration Equity Non Transfer Period Stock Price Trigger
ReverseRecapitalizationContingentConsiderationEquityNonTransferPeriodStockPriceTrigger
12.00
CY2021Q3 mnts Reverse Recapitalization Contingent Consideration Equity Non Transfer Period Threshold Trading Days
ReverseRecapitalizationContingentConsiderationEquityNonTransferPeriodThresholdTradingDays
20 tradingday
CY2021Q3 mnts Reverse Recapitalization Contingent Consideration Equity Non Transfer Period Threshold Consecutive Trading Days
ReverseRecapitalizationContingentConsiderationEquityNonTransferPeriodThresholdConsecutiveTradingDays
30 tradingday
CY2021Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
11000000 shares
CY2021Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10.00
CY2021Q3 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
110000000 usd
CY2021Q3 mnts Warrant Liability Noncurrent
WarrantLiabilityNoncurrent
30500000 usd
CY2021 us-gaap Depreciation
Depreciation
1000000 usd
CY2022Q4 mnts Prepaid Launch Costs Current
PrepaidLaunchCostsCurrent
3000000 usd
CY2021Q4 mnts Prepaid Launch Costs Current
PrepaidLaunchCostsCurrent
0 usd
CY2022Q4 mnts Prepaid Research And Development Expense Current
PrepaidResearchAndDevelopmentExpenseCurrent
2841000 usd
CY2021Q4 mnts Prepaid Research And Development Expense Current
PrepaidResearchAndDevelopmentExpenseCurrent
4869000 usd
CY2022Q4 mnts Prepaid Insurance And Other Assets Current
PrepaidInsuranceAndOtherAssetsCurrent
4332000 usd
CY2021Q4 mnts Prepaid Insurance And Other Assets Current
PrepaidInsuranceAndOtherAssetsCurrent
4562000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10173000 usd
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9431000 usd
CY2022Q4 mnts Prepaid Launch Costs Noncurrent
PrepaidLaunchCostsNoncurrent
4400000 usd
CY2021Q4 mnts Prepaid Launch Costs Noncurrent
PrepaidLaunchCostsNoncurrent
3000000 usd
CY2021Q2 mnts Number Of Launch Service Agreements Terminated
NumberOfLaunchServiceAgreementsTerminated
2 agreement
CY2022 us-gaap Impairment Of Ongoing Project
ImpairmentOfOngoingProject
8700000 usd
CY2022 us-gaap Impairment Of Ongoing Project
ImpairmentOfOngoingProject
8700000 usd
CY2021 mnts Other Impairment Of Ongoing Project
OtherImpairmentOfOngoingProject
800000 usd
CY2022Q2 us-gaap Cost Of Revenue
CostOfRevenue
1200000 usd
CY2022Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
12000 usd
CY2022Q2 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
14000 usd
CY2022Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
600000 usd
CY2022Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
600000 usd
CY2022 mnts Prepaid Launch Costs Impairment
PrepaidLaunchCostsImpairment
1800000 usd
CY2022Q2 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
14000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5808000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6656000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1792000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1827000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4016000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4829000 usd
CY2022 us-gaap Depreciation
Depreciation
1000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
461000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
124000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
337000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
447000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
98000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
349000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
107000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
50000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
50000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
50000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
50000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
50000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
50000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
87000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
337000 usd
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
11000000 usd
CY2021Q4 mnts Lessee Operating Lease Number Of Leases Modified
LesseeOperatingLeaseNumberOfLeasesModified
2 lease
CY2022Q4 mnts Lessee Operating Lease Number Of Leases Modified
LesseeOperatingLeaseNumberOfLeasesModified
1 lease
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
1609000 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
1742000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
611000 usd
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
590000 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
38000 usd
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
19000 usd
CY2022 us-gaap Lease Cost
LeaseCost
2258000 usd
CY2021 us-gaap Lease Cost
LeaseCost
2351000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y2M12D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.056
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1533000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1580000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1627000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1674000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1729000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
297000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8440000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1156000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
7284000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3128000 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
4121000 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
3584000 usd
CY2021Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
3862000 usd
CY2022Q4 mnts Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
981000 usd
CY2021Q4 mnts Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
1240000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
333000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
399000 usd
CY2022Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
0 usd
CY2021Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
163000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8026000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9785000 usd
CY2021 mnts Proceeds From Issuance Of Financial Instruments Subject To Mandatory Redemption
ProceedsFromIssuanceOfFinancialInstrumentsSubjectToMandatoryRedemption
30900000 usd
CY2021Q3 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount
SharesSubjectToMandatoryRedemptionSettlementTermsAmount
78000000 usd
CY2021Q3 mnts Stock Issued During Period Value Conversion Of Safe Notes
StockIssuedDuringPeriodValueConversionOfSAFENotes
136000000 usd
CY2021 mnts Fair Value Adjustment To Financial Instruments Subject To Mandatory Redemption
FairValueAdjustmentToFinancialInstrumentsSubjectToMandatoryRedemption
209300000 usd
CY2021Q3 mnts Common And Preferred Stock Shares Authorized
CommonAndPreferredStockSharesAuthorized
270000000 shares
CY2021Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
79772262 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
79772262 shares
CY2021Q3 mnts Common Stock Percentage Of Ownership After Reverse Recapitalization
CommonStockPercentageOfOwnershipAfterReverseRecapitalization
1
CY2021Q2 mnts Reverse Recapitalization Percentage Of Voting Interests Acquired
ReverseRecapitalizationPercentageOfVotingInterestsAcquired
1
CY2021Q2 mnts Reverse Recapitalization Initial Consideration Transferred To Each Co Founder
ReverseRecapitalizationInitialConsiderationTransferredToEachCoFounder
1 usd
CY2021Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
50000000 usd
CY2021Q2 mnts Reverse Recapitalization Proceeds Received From Shareholders
ReverseRecapitalizationProceedsReceivedFromShareholders
247300000 usd
CY2021Q2 mnts Reverse Recapitalization Payments To Co Founders
ReverseRecapitalizationPaymentsToCoFounders
40000000 usd
CY2021Q2 mnts Business Combination Initial Consideration Transferred To Co Founders
BusinessCombinationInitialConsiderationTransferredToCoFounders
3 usd
CY2021Q2 mnts Reverse Recapitalization Release Of Proceeds From Shareholders Period Without Objection
ReverseRecapitalizationReleaseOfProceedsFromShareholdersPeriodWithoutObjection
P15D
CY2021Q2 mnts Proceeds From Sale Of Business And Other Capital Raising Transactions From Co Founders Minimum
ProceedsFromSaleOfBusinessAndOtherCapitalRaisingTransactionsFromCoFoundersMinimum
2700000 usd
CY2022Q4 mnts Business Combination Contingent Consideration Liability To Co Founders
BusinessCombinationContingentConsiderationLiabilityToCoFounders
10000000 usd
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4040360 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.27
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1064862 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.54
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
2184961 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.26
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
363528 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.28
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2556733 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.21
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y10M24D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
763000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1371124 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.71
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y1M6D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
571000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2556733 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.21
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y10M24D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
763000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
5100000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
18000000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
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11580000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18452000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11580000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18452000 usd
CY2022 us-gaap Net Income Loss
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-95444000 usd
CY2021 us-gaap Net Income Loss
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
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-95444000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
120654000 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65177873 shares
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
5438952 shares
CY2022 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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0 shares
CY2021 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
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CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2022 us-gaap Earnings Per Share Basic
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-1.17
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.85
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.17
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.70
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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27750724 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
22927491 shares
CY2022Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
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15368000 usd
CY2022Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
600000 usd
CY2022Q4 mnts Unrecorded Unconditional Purchase Obligation To Be Paid After Year Two
UnrecordedUnconditionalPurchaseObligationToBePaidAfterYearTwo
0 usd
CY2022Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
15968000 usd
CY2021Q2 mnts Reverse Recapitalization Percentage Of Voting Interests Acquired
ReverseRecapitalizationPercentageOfVotingInterestsAcquired
1
CY2021Q2 mnts Reverse Recapitalization Initial Consideration Transferred To Each Co Founder
ReverseRecapitalizationInitialConsiderationTransferredToEachCoFounder
1 usd
CY2021Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
50000000 usd
CY2021Q2 mnts Reverse Recapitalization Proceeds Received From Shareholders
ReverseRecapitalizationProceedsReceivedFromShareholders
247300000 usd
CY2021Q2 mnts Reverse Recapitalization Payments To Co Founders
ReverseRecapitalizationPaymentsToCoFounders
40000000 usd
CY2021Q2 mnts Business Combination Initial Consideration Transferred To Co Founders
BusinessCombinationInitialConsiderationTransferredToCoFounders
3 usd
CY2021Q2 mnts Reverse Recapitalization Release Of Proceeds From Shareholders Period Without Objection
ReverseRecapitalizationReleaseOfProceedsFromShareholdersPeriodWithoutObjection
P15D
CY2021Q2 mnts Proceeds From Sale Of Business And Other Capital Raising Transactions From Co Founders Minimum
ProceedsFromSaleOfBusinessAndOtherCapitalRaisingTransactionsFromCoFoundersMinimum
2700000 usd
CY2022Q4 mnts Business Combination Contingent Consideration Liability To Co Founders
BusinessCombinationContingentConsiderationLiabilityToCoFounders
10000000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-95444000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
120656000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-95444000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
120656000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2000 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-20042000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
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
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
11113000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.116
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
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
-60000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.001
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
3426000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.028
CY2022 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
1089000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
EffectiveIncomeTaxRateReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
-0.011
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
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-143000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.002
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
171000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001
CY2022 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
1085000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.011
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
CY2022 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
276000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
-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
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
11030000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.116
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
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2000 usd
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
17922000 usd
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
16473000 usd
CY2022Q4 mnts Deferred Tax Assets Start Up And Organizational Costs
DeferredTaxAssetsStartUpAndOrganizationalCosts
16965000 usd
CY2021Q4 mnts Deferred Tax Assets Start Up And Organizational Costs
DeferredTaxAssetsStartUpAndOrganizationalCosts
15311000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
16562000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
10350000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
4595000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
3758000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3072000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1457000 usd
CY2022Q4 mnts Deferred Tax Assets Leasing Arrangements
DeferredTaxAssetsLeasingArrangements
1534000 usd
CY2021Q4 mnts Deferred Tax Assets Leasing Arrangements
DeferredTaxAssetsLeasingArrangements
2381000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
1710000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
1070000 usd
CY2022Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
173000 usd
CY2021Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
586000 usd
CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
22000 usd
CY2021Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
26000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1000 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
0 usd
CY2021Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
893000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
62556000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
52305000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
61200000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
50168000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1356000 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
2137000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
1356000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
2137000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
1356000 usd
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
2137000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
61200000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1253000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
163000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
442000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1532000 usd
CY2022Q2 us-gaap Deferred Tax Assets Tax Deferred Expense
DeferredTaxAssetsTaxDeferredExpense
84300000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense
DeferredTaxAssetsTaxDeferredExpense
80600000 usd
CY2022Q4 mnts Deferred Tax Assets Leasing Arrangements
DeferredTaxAssetsLeasingArrangements
1500000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
1400000 usd

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