2023 Q2 Form 10-Q Financial Statement

#000121390023038120 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $800.0K $830.0K $803.0K
YoY Change -43.7% -30.78% 3915.0%
Cost Of Revenue $3.142M $3.023M $2.938M
YoY Change 4.7% -0.46% -56.29%
Gross Profit -$2.342M -$2.193M -$2.135M
YoY Change 48.23% 19.31% -68.14%
Gross Profit Margin -292.75% -264.22% -265.88%
Selling, General & Admin $6.516M $6.054M $7.052M
YoY Change -37.24% -35.18% 69.11%
% of Gross Profit
Research & Development $4.994M $4.578M $4.334M
YoY Change 19.76% 14.79% 68.57%
% of Gross Profit
Depreciation & Amortization $1.178M $1.125M $1.014M
YoY Change 33.26% 27.55% 42.22%
% of Gross Profit
Operating Expenses $15.83M $14.78M $12.40M
YoY Change -14.14% 4.01% 66.35%
Operating Profit -$15.03M -$13.95M -$14.53M
YoY Change -11.67% -13.07% 2.68%
Interest Expense -$343.0K $469.0K $456.0K
YoY Change -414.68% -105.1%
% of Operating Profit
Other Income/Expense, Net $14.00K -$81.00K $1.508M
YoY Change -137.84% -101.27% -106.53%
Pretax Income -$15.60M -$16.40M -$12.57M
YoY Change -2004.76% 69.47% -72.78%
Income Tax $100.0K -$13.00K -$69.00K
% Of Pretax Income
Net Earnings -$15.77M -$16.30M -$12.50M
YoY Change -2006.89% 67.85% -72.94%
Net Earnings / Revenue -1971.25% -1963.86% -1556.91%
Basic Earnings Per Share -$0.15 -$0.15
Diluted Earnings Per Share -$0.15 -$0.15 -$0.12
COMMON SHARES
Basic Shares Outstanding 107.7M shares 107.1M shares 106.4M shares
Diluted Shares Outstanding 106.7K shares 106.4K shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $85.01M $46.80M $55.45M
YoY Change 3.02% -50.1% -44.6%
Cash & Equivalents $52.78M $43.81M $47.23M
Short-Term Investments $32.23M $2.986M $8.216M
Other Short-Term Assets $2.933M $3.635M $3.576M
YoY Change 44.41% 25.04% -20.81%
Inventory
Prepaid Expenses
Receivables $1.830M $1.189M $2.168M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $89.78M $51.62M $61.19M
YoY Change 4.97% -46.63% -42.45%
LONG-TERM ASSETS
Property, Plant & Equipment $41.69M $35.24M $19.18M
YoY Change 24.99% 2.68% -13.8%
Goodwill $17.74M $17.82M $17.49M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.652M $1.732M $1.811M
YoY Change 69.26% 66.54% -56.31%
Total Long-Term Assets $71.69M $65.39M $62.60M
YoY Change 86.58% 65.91% 105.3%
TOTAL ASSETS
Total Short-Term Assets $89.78M $51.62M $61.19M
Total Long-Term Assets $71.69M $65.39M $62.60M
Total Assets $161.5M $117.0M $123.8M
YoY Change 30.27% -14.05% -9.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $879.0K $656.0K $1.019M
YoY Change 101.14% -42.36% 127.46%
Accrued Expenses $8.733M $7.433M $7.773M
YoY Change 20.89% -0.93% 68.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.676M $8.149M $8.887M
YoY Change 26.14% -10.55% 33.04%
LONG-TERM LIABILITIES
Long-Term Debt $34.04M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.647M $1.600M $11.04M
YoY Change 47.71% -94.68% 741.88%
Total Long-Term Liabilities $35.69M $1.600M $11.04M
YoY Change 3100.81% -94.68% 741.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.676M $8.149M $8.887M
Total Long-Term Liabilities $35.69M $1.600M $11.04M
Total Liabilities $66.39M $24.49M $19.92M
YoY Change 242.08% -37.52% -45.96%
SHAREHOLDERS EQUITY
Retained Earnings -$720.6M -$704.8M -$688.5M
YoY Change 9.64% 6.27%
Common Stock $810.0M $791.7M $12.00K
YoY Change 6.31% -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.000K $4.000K $4.000K
YoY Change 300.0%
Treasury Stock Shares 1.177K shares 1.177K shares 1.177K shares
Shareholders Equity $91.23M $88.67M $100.0M
YoY Change
Total Liabilities & Shareholders Equity $161.5M $117.0M $123.8M
YoY Change 30.27% -14.05% -9.53%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income -$15.77M -$16.30M -$12.50M
YoY Change -2006.89% 67.85% -72.94%
Depreciation, Depletion And Amortization $1.178M $1.125M $1.014M
YoY Change 33.26% 27.55% 42.22%
Cash From Operating Activities -$8.492M -$7.400M -$11.91M
YoY Change -20.46% 21.37% -35.63%
INVESTING ACTIVITIES
Capital Expenditures $1.641M $856.0K $1.578M
YoY Change -384.4% -511.54% -792.11%
Acquisitions
YoY Change
Other Investing Activities -$29.03M $5.213M -$2.861M
YoY Change
Cash From Investing Activities -$30.67M $4.016M -$4.439M
YoY Change 5216.29% -2030.77% 1846.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 48.15M -$1.000K -1.000K
YoY Change 218750.0% -104.0% -100.0%
NET CHANGE
Cash From Operating Activities -8.492M -$7.400M -11.91M
Cash From Investing Activities -30.67M $4.016M -4.439M
Cash From Financing Activities 48.15M -$1.000K -1.000K
Net Change In Cash 8.980M -$3.417M -16.35M
YoY Change -179.95% -45.59% -116.61%
FREE CASH FLOW
Cash From Operating Activities -$8.492M -$7.400M -$11.91M
Capital Expenditures $1.641M $856.0K $1.578M
Free Cash Flow -$10.13M -$8.256M -$13.49M
YoY Change 0.33% 40.19% -26.19%

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IncreaseDecreaseInDeferredRevenue
-1162000 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
395000 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-202000 usd
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
88000 usd
CY2022Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
141000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7427000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6097000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
856000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
171000 usd
CY2023Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
5213000 usd
CY2022Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
usd
CY2023Q1 us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
341000 usd
CY2022Q1 us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
37000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4016000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-208000 usd
CY2023Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
27000 usd
CY2022Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
usd
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
26000 usd
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
26000 usd
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
usd
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
25000 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-5000 usd
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-15000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3417000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6295000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
47230000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
100076000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93781000 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
591000 usd
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
243000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-16300000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-9700000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7400000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6100000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; line-height: inherit;">Use of Estimates</span></p> <p style="margin: 0pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> </span></p> <p style="margin: 0pt; text-align: justify; text-indent: 18pt; line-height: 1.2;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period and accompanying notes. These estimates include those related to the useful lives and recoverability of long-lived and intangible assets, valuation of common stock warrants, income taxes and equity-based compensation, among others. NextNav bases estimates on historical experience, anticipated results and various other assumptions, including assumptions of future events, it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets, liabilities, equity, revenue and expenses, that are not readily apparent from other sources. Actual results and outcomes could differ materially from these estimates and assumptions. </span></p>
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
0 usd
CY2023Q1 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
0 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
830000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1199000 usd
CY2023Q1 us-gaap Accounts Receivable Sale
AccountsReceivableSale
1200000 usd
CY2022 us-gaap Accounts Receivable Sale
AccountsReceivableSale
2200000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
60000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
95000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3866000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7195000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-16349000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-9711000 usd
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
106405 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
106405 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100868 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100868 shares
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.15
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.15
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.1
CY2022Q4 us-gaap Goodwill
Goodwill
17493000 usd
CY2023Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
328000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
17821000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1822000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2420000 usd
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
468000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
387000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2703000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2434000 usd
CY2023Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
4993000 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
5241000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
13067000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2465000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10602000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
12606000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2209000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10397000 usd
CY2023Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
300000 usd
CY2022Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
100000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
800000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
895000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
832000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
560000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
4048000 usd
CY2023Q1 nn Finite Lived Intangible Asset Expected Amortization
FiniteLivedIntangibleAssetExpectedAmortization
7135000 usd
CY2023Q1 us-gaap Other Receivables
OtherReceivables
200000 usd
CY2022Q4 us-gaap Other Receivables
OtherReceivables
300000 usd
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
18749990 shares
CY2023Q1 nn Description Of Warrants
DescriptionOfWarrants
the right to redeem the outstanding Public Warrants in whole and not in part at a price of $0.01 per warrant upon a minimum of 30 days’ prior written notice of redemption, if and only if the last sales price of the Company’s common stock matched or exceeded $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which NextNav sends the notice of redemption to the warrant holders.
CY2023Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
7000000 usd
CY2022Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
4200000 usd
CY2023Q1 us-gaap Share Price
SharePrice
2.03
CY2022Q4 us-gaap Share Price
SharePrice
2.93
CY2023Q1 nn Strike Price
StrikePrice
11.5
CY2022Q4 nn Strike Price
StrikePrice
11.5
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y6M29D
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y9M25D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.02 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.62 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0375 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0413 pure
CY2023Q1 nn Fair Value Of Warrants In Dollars
FairValueOfWarrantsInDollars
0.8
CY2022 nn Fair Value Of Warrants In Dollars
FairValueOfWarrantsInDollars
0.48
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
4200000 usd
CY2023Q1 nn Fair Value Adjustment Of Private Placement Warrants
FairValueAdjustmentOfPrivatePlacementWarrants
2800000 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
7000000 usd
CY2023Q1 nn Capital Stock Shares Authorized
CapitalStockSharesAuthorized
600000000 shares
CY2023Q1 nn Capital Stock Par Or Stated Value Per Share
CapitalStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
107156831 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
107155654 shares
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-13000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-16400000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.0008 pure
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
30000.00 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-9700000 usd
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.004 pure

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