$NOTE
FiscalNote Holdings, Inc.

2023 Q1 Form 10-Q Financial Statement

#000095017023022191 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $31.53M $0.00
YoY Change
Cost Of Revenue $6.340M $5.347M
YoY Change 18.57% 78.89%
Gross Profit $25.19M $20.72M
YoY Change 21.55% 44.32%
Gross Profit Margin 79.89%
Selling, General & Admin $30.52M $1.922M
YoY Change 1488.04% 667.58%
% of Gross Profit 121.16% 9.27%
Research & Development $5.120M $6.018M
YoY Change -14.92% 14.52%
% of Gross Profit 20.33% 29.04%
Depreciation & Amortization $336.0K $4.717M
YoY Change -92.88% 37.6%
% of Gross Profit 1.33% 22.76%
Operating Expenses $58.90M $1.922M
YoY Change 2964.84% 667.58%
Operating Profit -$27.37M -$1.922M
YoY Change 1324.24% 667.59%
Interest Expense $7.999M $9.135M
YoY Change -12.44% 146.56%
% of Operating Profit
Other Income/Expense, Net $129.0K $22.53K
YoY Change 472.57% -50.51%
Pretax Income -$19.24M $7.236M
YoY Change -365.94% 106.73%
Income Tax $30.00K -$374.0K
% Of Pretax Income -5.17%
Net Earnings -$19.27M $7.236M
YoY Change -366.36% 106.73%
Net Earnings / Revenue -61.13%
Basic Earnings Per Share -$0.14 -$1.06
Diluted Earnings Per Share -$0.14 $330.8K
COMMON SHARES
Basic Shares Outstanding 133.1M 18.76M
Diluted Shares Outstanding 133.1M 18.76M

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.67M $213.3K
YoY Change 21778.66% 44.25%
Cash & Equivalents $46.67M $213.3K
Short-Term Investments
Other Short-Term Assets $3.137M $353.4K
YoY Change 787.74% -48.92%
Inventory
Prepaid Expenses $5.233M $353.4K
Receivables $17.28M $14.82M
Other Receivables $0.00 $0.00
Total Short-Term Assets $76.07M $566.7K
YoY Change 13324.48% -32.51%
LONG-TERM ASSETS
Property, Plant & Equipment $7.008M $31.62M
YoY Change -77.83%
Goodwill $208.1M
YoY Change
Intangibles
YoY Change
Long-Term Investments $175.1M
YoY Change 0.03%
Other Assets $430.0K $3.814M
YoY Change -88.73%
Total Long-Term Assets $364.9M $175.1M
YoY Change 108.38% 0.03%
TOTAL ASSETS
Total Short-Term Assets $76.07M $566.7K
Total Long-Term Assets $364.9M $175.1M
Total Assets $441.0M $175.7M
YoY Change 151.01% -0.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.79M $1.811M
YoY Change 661.3% 1711.53%
Accrued Expenses $3.376M $3.973M
YoY Change -15.03% 2581.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $68.00K $18.07M
YoY Change -99.62%
Total Short-Term Liabilities $70.65M $6.087M
YoY Change 1060.76% 2352.57%
LONG-TERM LIABILITIES
Long-Term Debt $176.7M $0.00
YoY Change
Other Long-Term Liabilities $13.90M $16.68M
YoY Change -16.64% -28.19%
Total Long-Term Liabilities $190.6M $16.68M
YoY Change 1042.74% -28.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.65M $6.087M
Total Long-Term Liabilities $190.6M $16.68M
Total Liabilities $300.6M $22.76M
YoY Change 1220.35% -3.02%
SHAREHOLDERS EQUITY
Retained Earnings -$720.2M -$22.07M
YoY Change 3162.74% -2.15%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $140.4M -$22.07M
YoY Change
Total Liabilities & Shareholders Equity $441.0M $175.7M
YoY Change 151.01% -0.13%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$19.27M $7.236M
YoY Change -366.36% 106.73%
Depreciation, Depletion And Amortization $336.0K $4.717M
YoY Change -92.88% 37.6%
Cash From Operating Activities -$12.83M -$404.9K
YoY Change 3068.08% 358.98%
INVESTING ACTIVITIES
Capital Expenditures $1.869M -$2.128M
YoY Change -187.83% 75.72%
Acquisitions $5.010M
YoY Change
Other Investing Activities -$5.010M $0.00
YoY Change -100.0%
Cash From Investing Activities -$6.879M -$2.128M
YoY Change 223.26% -56.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $27.00K
YoY Change
Cash From Financing Activities 6.237M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -12.83M -404.9K
Cash From Investing Activities -6.879M -2.128M
Cash From Financing Activities 6.237M 0.000
Net Change In Cash -13.72M -404.9K
YoY Change 3288.65% -373.81%
FREE CASH FLOW
Cash From Operating Activities -$12.83M -$404.9K
Capital Expenditures $1.869M -$2.128M
Free Cash Flow -$14.70M $1.723M
YoY Change -952.8% 53.47%

Facts In Submission

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AmortizationOfDeferredCostsToObtainRevenueContracts
832000
CY2022Q1 note Amortization Of Deferred Costs To Obtain Revenue Contracts
AmortizationOfDeferredCostsToObtainRevenueContracts
554000
CY2023Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
5837000
CY2023Q1 note Noncash Operating Lease Expense
NoncashOperatingLeaseExpense
1832000
CY2022Q1 note Noncash Operating Lease Expense
NoncashOperatingLeaseExpense
1596000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
6506000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
260000
CY2022Q1 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
378000
CY2023Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
190000
CY2022Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
46000
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
156000
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-35000
CY2023Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-156000
CY2022Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-1366000
CY2023Q1 note Change In Fair Value Of Financial Instruments
ChangeInFairValueOfFinancialInstruments
-14680000
CY2022Q1 note Change In Fair Value Of Financial Instruments
ChangeInFairValueOfFinancialInstruments
1338000
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-218000
CY2022Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-386000
CY2023Q1 us-gaap Paid In Kind Interest
PaidInKindInterest
970000
CY2022Q1 us-gaap Paid In Kind Interest
PaidInKindInterest
13430000
CY2023Q1 note Non Cash Interest Expense
NonCashInterestExpense
1074000
CY2022Q1 note Non Cash Interest Expense
NonCashInterestExpense
7394000
CY2022Q1 note Gains Losses On Extinguishment Of Paycheck Protection Program Loan
GainsLossesOnExtinguishmentOfPaycheckProtectionProgramLoan
7667000
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
696000
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3627000
CY2023Q1 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
-619000
CY2022Q1 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
3449000
CY2023Q1 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
1126000
CY2022Q1 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
1142000
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-27000
CY2023Q1 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-3225000
CY2022Q1 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-1662000
CY2023Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
10002000
CY2022Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
11472000
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1923000
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1846000
CY2023Q1 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-1222000
CY2022Q1 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-336000
CY2023Q1 note Increase Decrease In Contingent Liabilities From Acquisitions Current Portion
IncreaseDecreaseInContingentLiabilitiesFromAcquisitionsCurrentPortion
-39000
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-4052000
CY2022Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1984000
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-8000
CY2022Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
463000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-12826000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10203000
CY2023Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1869000
CY2022Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2128000
CY2023Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
5010000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6879000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2128000
CY2023Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
6000000
CY2022Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
19478000
CY2023Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
27000
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
264000
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
215000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6237000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19693000
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-251000
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
153000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-13719000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7515000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61223000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33009000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
47504000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40524000
CY2022Q1 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
8390000
CY2023Q1 note Warrants Issued In Conjunction With Long Term Debt Issuance
WarrantsIssuedInConjunctionWithLongTermDebtIssuance
178000
CY2022Q1 note Warrants Issued In Conjunction With Long Term Debt Issuance
WarrantsIssuedInConjunctionWithLongTermDebtIssuance
436000
CY2022Q1 note Fees Payable To Debt Holders Settled Through Increase Of Debt Principal
FeesPayableToDebtHoldersSettledThroughIncreaseOfDebtPrincipal
100000
CY2022Q1 note Pik Interest Settled Through Issuance Of Additional Convertible Notes To Noteholders
PIKInterestSettledThroughIssuanceOfAdditionalConvertibleNotesToNoteholders
4134000
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
121000
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
41000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
4740000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
1341000
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
112000
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
57000
CY2023Q1 note Description Of Business Policy Policy Textblock
DescriptionOfBusinessPolicyPolicyTextblock
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Description of Business</span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">FiscalNote Holdings, Inc. (“FiscalNote,” or the “Company”) is a leading technology provider of global policy and market intelligence. It delivers critical, actionable legal and policy insights in a rapidly evolving political, regulatory and macroeconomic environment. By combining artificial intelligence (AI) technology, other technologies with analytics, workflow tools, and expert peer insights, FiscalNote empowers customers to manage policy, address regulatory developments, and mitigate global risk. FiscalNote ingests unstructured legislative and regulatory data, and employs AI and data science to deliver structured, relevant and actionable information in order to facilitate key operational and strategic decisions by global enterprises, midsized and smaller businesses, government institutions, trade groups, and nonprofits. FiscalNote delivers that intelligence through its suite of public policy and issues management products. The Company is headquartered in Washington, D.C.</span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">On July 29, 2022 (the “Closing Date”), the Company consummated the transactions contemplated by the Agreement and Plan of Merger, dated as of November 7, 2021, and as amended on May 9, 2022, (the “Merger Agreement”), by and among FiscalNote Holdings, Inc., a Delaware corporation (“Old FiscalNote”), Duddell Street Acquisition Corp., a Cayman Islands exempted company (“DSAC”), and Grassroots Merger Sub, Inc., a Delaware Corporation and a wholly owned direct subsidiary of DSAC (“Merger Sub” and, together with DSAC, the “DSAC Parties”). Pursuant to these transactions, Merger Sub merged with and into Old FiscalNote, with Old FiscalNote becoming a wholly owned subsidiary of DSAC (the “Business Combination” and, collectively with the other transactions described in the Business Combination Agreement, the “Transactions”). In connection with the closing of the Transactions (the “Closing”), DSAC domesticated and continued as a Delaware corporation under the name of “FiscalNote Holdings, Inc.” (“New FiscalNote”). Unless the context otherwise requires, references in this Quarterly Report on Form 10-Q to the “Company,” “FiscalNote,” “we,” “us,” or “our” refer to the business of Old FiscalNote, which became the business of New FiscalNote and its subsidiaries following the Closing.</span></p>
CY2023Q1 note Contract With Customer Liability New Deferrals Net Of Amounts Recognized
ContractWithCustomerLiabilityNewDeferralsNetOfAmountsRecognized
25928000
CY2023Q1 note Liquidity Policy Policy Textblock
LiquidityPolicyPolicyTextblock
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Liquidity</span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities in the ordinary course of business. The propriety of using the going-concern basis is dependent upon, among other things, the achievement of future profitable operations, the ability to generate sufficient cash from operations and potential other funding sources, in addition to cash on-hand, to meet its obligations as they become due.</span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company received approximately $</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">65.6</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million of net cash proceeds from the Transactions. The Company’s cash, cash equivalents, and restricted cash were $</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">47.5</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million at </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">March 31, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, compared with $</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">61.2</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million at </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">December 31, 2022. Further, the Company had a negative working capital balance of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">42.1</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million (excluding cash) at March 31, 2023 and had an accumulated deficit of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">720.2</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million and </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">700.7</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million as of March 31, 2023 and December 31, 2022, respectively, and has incurred net losses of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">19.3</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million and </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">28.4</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million for the three months ended March 31, 2023 and 2022, respectively. Management expects that significant on-going operating and capital expenditures will be necessary to continue to implement the Company’s business plan of entering new markets, future acquisitions, and infrastructure and product development. </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company's ability to fund its cash interest requirements under its $</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">156.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million new senior term loan facility (the "New Senior Term Loan"), acquisition strategy, operating expenses, and capital expenditure requirements will depend in part on general economic, financial, competitive, legislative, regulatory and other conditions that may be beyond the Company's control.</span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company's future capital requirements also depend on many factors, including sales volume, the timing and extent of spending to support research and development (“R&amp;D”) efforts, investments in information technology systems, the expansion of sales and marketing activities, and execution on our acquisition strategy. Historically the Company’s cash flows from operations have not been sufficient to fund its current operating model. The Company believes with the cash on hand at March 31, 2023, proceeds from our expected product sales, and available borrowings under our New Senior Term Loan and for certain acquisition activity, will be sufficient to meet our short-term and long-term operating expenses and capital expenditures for at least the next twelve months.</span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Pursuant to the terms of the New Senior Term Loan, the Company is subject to customary covenant requirements (see Note 8, “Debt” for additional details). The Company expects to be in compliance with its quarterly financial covenants throughout 2023 and 2024, but cannot guarantee that will be the case. In the event of non-compliance with any quarterly financial covenants, should the lenders of the New Senior Term Loan accelerate the maturity of the New Senior Term Loan, the Company would not have sufficient cash on hand or available liquidity to repay the outstanding debt in the event of default.</span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">On April 13, 2020, the Company received funding in the principal amount of $</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">8,000</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> under the Paycheck Protection Program (the “PPP”) provisions of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) (the “PPP Loan”). On February 24, 2022, the U.S. Small Business Administration forgave $</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">7,667</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> of the PPP Loan with the remaining balance of $</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">333</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> to be repaid over </span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">five years</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">. The Company recognized the forgiveness of the PPP Loan as a gain on debt extinguishment during the first quarter of 2022.</span></p>
CY2023Q1 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
65600000
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
47500000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
61200000
CY2023Q1 note Working Capital Deficit
WorkingCapitalDeficit
42100000
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-720200000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-700700000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-19300000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-28400000
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:10.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentrations of Risks</span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company generally maintains its cash and cash equivalents with various nationally recognized financial institutions. The Company’s cash and cash equivalents at times exceed amounts guaranteed by the Federal Deposit Insurance Corporation. The Company considers cash on deposit and all highly liquid investments with original maturities of three months or less to be cash and cash equivalents. At March 31, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, over </span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">90</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of the Company’s cash and cash equivalents were held at JPMorgan Chase Bank, N.A.</span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company does not require collateral for accounts receivable. The Company maintains an allowance for its doubtful accounts receivable due to estimated credit losses. This allowance is based upon historical loss patterns, the number of days billings are past due,</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">collection history of each customer, an evaluation of the potential risk of loss associated with delinquent accounts and current market conditions and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss patterns. The Company records the allowance against bad debt expense through the condensed consolidated statements of operations, included in sales and marketing expense, up to the amount of revenues recognized to date. Any incremental allowance is recorded as an offset to deferred revenue on the condensed consolidated balance sheets. Receivables are written off and charged against the recorded allowance when the Company has exhausted collection efforts without success. As of March 31, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, allowance for credit losses of $</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">867</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> was included in the accounts receivable, net balance.</span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">One customer accounted for more than </span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of the Company's accounts receivable balance as of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">March 31, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> and no single customer accounted for more than </span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of the Company's accounts receivable balance as of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">December 31, 2022. </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Revenue derived from the U.S. Federal Government was </span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">17</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% and </span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">19</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of revenue for</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> the three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023 and December 31, 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, assets located in the United States were approximately </span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">86</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% and </span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">92</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% percent of total assets, respectively.</span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Two vendors individually accounted for more than </span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of the Company’s accounts payable as of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">March 31, 2023 and December 31, 2022. During the three months ended March 31, 2023 and 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, one vendor represented more than </span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of the total purchases made.</span></p>
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
867000
CY2023Q1 note Contract With Customer Liability Increase Decrease For Effects Of Foreign Currency
ContractWithCustomerLiabilityIncreaseDecreaseForEffectsOfForeignCurrency
32000
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
49850000
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-16610000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
31529000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
26071000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
31529000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
26071000
CY2023Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1727000
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1464000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
30097000
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-14940000
CY2022Q1 note Contract With Customer Liability New Deferrals Net Of Amounts Recognized
ContractWithCustomerLiabilityNewDeferralsNetOfAmountsRecognized
26510000
CY2022Q1 note Contract With Customer Liability Increase Decrease For Effects Of Foreign Currency
ContractWithCustomerLiabilityIncreaseDecreaseForEffectsOfForeignCurrency
-65000
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
41602000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
36487000
CY2023Q1 us-gaap Contract With Customer Liability Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerLiabilityIncreaseDecreaseForContractAcquiredInBusinessCombination
4013000
CY2023Q1 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
1114000
CY2022Q1 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
1141000
CY2023Q1 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2022Q1 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
111217000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2585000
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2442000
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
155000
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
88000
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
178000
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
321000
CY2023Q1 us-gaap Lease Cost
LeaseCost
2918000
CY2022Q1 us-gaap Lease Cost
LeaseCost
2851000
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
1364000
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
1338000
CY2022Q1 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
378000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
4797000
CY2023Q1 note Payment Of Sublease Termination Fee
PaymentOfSubleaseTerminationFee
1682000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2873000
CY2022Q1 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
378000
CY2021 note Payment Of Sublease Termination Fee
PaymentOfSubleaseTerminationFee
1682000
CY2023Q1 note Payment Of Sublease Termination Fee
PaymentOfSubleaseTerminationFee
1682000
CY2023Q1 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2023-03-31
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
171231000
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
59668000
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
111563000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
161595000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
55499000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
106096000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
12625000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
16028000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
12828000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
12492000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
12129000
CY2023Q1 note Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
45461000
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
111563000
CY2023Q1 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
21752000
CY2023Q1 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
7149000
CY2023Q1 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
14603000
CY2022Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
19815000
CY2022Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
5869000
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
13946000
CY2023Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
117000
CY2022Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
40000
CY2023Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1281000
CY2022Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
571000
CY2022Q4 us-gaap Goodwill
Goodwill
194362000
CY2023Q1 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
19658000
CY2023Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
5837000
CY2023Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-127000
CY2023Q1 us-gaap Goodwill
Goodwill
208056000
CY2023Q1 us-gaap Reporting Unit Zero Or Negative Carrying Amount Name
ReportingUnitZeroOrNegativeCarryingAmountName
PPIM
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2575000
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2243000
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
176746000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
162048000
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
68000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
68000
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
176678000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
161980000
CY2022Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
182482000
CY2023Q1 note Shares Authorized
SharesAuthorized
1809000000
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q1 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
175905000
CY2023Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1222000
CY2022Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
72000
CY2023Q1 note Non Capitalizable Business Combination Costs
NonCapitalizableBusinessCombinationCosts
184000
CY2022Q1 note Non Capitalizable Business Combination Costs
NonCapitalizableBusinessCombinationCosts
203000
CY2023Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-156000
CY2022Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-1366000
CY2023Q1 note Transaction Cost Related To Contingent Compensation Expense
TransactionCostRelatedToContingentCompensationExpense
158000
CY2022Q1 note Transaction Cost Related To Contingent Compensation Expense
TransactionCostRelatedToContingentCompensationExpense
46000
CY2023Q1 note Transaction Costs Gains
TransactionCostsGains
1408000
CY2022Q1 note Transaction Costs Gains
TransactionCostsGains
-1045000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-19273000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-28351000
CY2022Q1 note Deemed Dividend Change In Redemption Value Of Preferred Stock
DeemedDividendChangeInRedemptionValueOfPreferredStock
-8395000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-19273000
CY2023Q1 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
-19273000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-19956000
CY2022Q1 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
-19956000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
133082639
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133082639
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18757067
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18757067
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.14
CY2022 us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
11700000
CY2023Q1 us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
11700000
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.06
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.06
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
31779466
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
102039346
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
30000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-19243000
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0016
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-374000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-28725000
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0130
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
639000
CY2022Q1 note Unrecognized Deferred Tax Liabilities
UnrecognizedDeferredTaxLiabilities
89000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
639000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
728000
CY2022Q1 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
89000
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
639000
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
639000
CY2022Q1 note Earned Cash Contingent Compensation Transferred From Level Three To Level One
EarnedCashContingentCompensationTransferredFromLevelThreeToLevelOne
2500000
CY2023Q1 note Earned Cash Contingent Compensation Other Transfer Of Assets And Liabilities Between Levels
EarnedCashContingentCompensationOtherTransferOfAssetsAndLiabilitiesBetweenLevels
0
CY2022Q1 note Earned Cash Contingent Compensation Other Transfer Of Assets And Liabilities Between Levels
EarnedCashContingentCompensationOtherTransferOfAssetsAndLiabilitiesBetweenLevels
0

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