2023 Q2 Form 10-Q Financial Statement

#000095017023040553 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q2
Revenue $32.84M $27.17M
YoY Change 20.86%
Cost Of Revenue $6.420M $5.703M
YoY Change 12.57% 51.88%
Gross Profit $26.42M $21.47M
YoY Change 23.05% 37.88%
Gross Profit Margin 80.45% 79.01%
Selling, General & Admin $27.86M $23.77M
YoY Change 17.2% 1068.57%
% of Gross Profit 105.46% 110.73%
Research & Development $4.510M $3.791M
YoY Change 18.97% -36.64%
% of Gross Profit 17.07% 17.66%
Depreciation & Amortization $6.290M $4.913M
YoY Change 28.03% 29.56%
% of Gross Profit 23.81% 22.88%
Operating Expenses $49.82M $32.18M
YoY Change 54.8% 1481.89%
Operating Profit -$16.98M -$2.107M
YoY Change 705.93% 3.55%
Interest Expense -$10.14M -$26.30M
YoY Change -61.45% -759.22%
% of Operating Profit
Other Income/Expense, Net -$167.0K -$765.0K
YoY Change -78.17% -13000.51%
Pretax Income -$30.76M -$38.54M
YoY Change -20.18% -2064.65%
Income Tax $213.0K -$176.0K
% Of Pretax Income
Net Earnings -$30.97M -$2.658M
YoY Change 1065.41% -235.49%
Net Earnings / Revenue -94.31% -9.78%
Basic Earnings Per Share -$0.23 -$2.57
Diluted Earnings Per Share -$0.23 -$295.7K
COMMON SHARES
Basic Shares Outstanding 134.1M 19.02M
Diluted Shares Outstanding 134.1M 19.02M

Balance Sheet

Concept 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.30M $27.16M
YoY Change 37.32% 115339.86%
Cash & Equivalents $37.26M $14.69K
Short-Term Investments
Other Short-Term Assets $2.751M $15.18M
YoY Change -81.88% 2734.81%
Inventory
Prepaid Expenses $3.374M $201.8K
Receivables $14.94M $13.95M
Other Receivables $0.00 $0.00
Total Short-Term Assets $62.17M $216.5K
YoY Change 28616.14% -61.27%
LONG-TERM ASSETS
Property, Plant & Equipment $6.724M $29.94M
YoY Change -77.54%
Goodwill $208.1M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $425.0K $3.864M
YoY Change -89.0%
Total Long-Term Assets $360.8M $175.4M
YoY Change 105.74% 0.16%
TOTAL ASSETS
Total Short-Term Assets $62.17M $216.5K
Total Long-Term Assets $360.8M $175.4M
Total Assets $423.0M $175.6M
YoY Change 140.9% -0.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.30M $1.745M
YoY Change 662.09% 3.63%
Accrued Expenses $3.500M $5.794M
YoY Change -39.59% 1721.84%
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 $70.78M $7.843M
YoY Change 802.45% 291.75%
LONG-TERM LIABILITIES
Long-Term Debt $214.7M $372.2M
YoY Change -42.31%
Other Long-Term Liabilities $3.703M $34.13M
YoY Change -89.15% 77.43%
Total Long-Term Liabilities $218.4M $406.3M
YoY Change -46.25% 2012.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.78M $7.843M
Total Long-Term Liabilities $218.4M $406.3M
Total Liabilities $329.2M $25.31M
YoY Change 1200.93% 19.17%
SHAREHOLDERS EQUITY
Retained Earnings -$751.2M -$24.99M
YoY Change 2905.77% 21.34%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $93.72M -$24.99M
YoY Change
Total Liabilities & Shareholders Equity $423.0M $175.6M
YoY Change 140.9% -0.04%

Cashflow Statement

Concept 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$30.97M -$2.658M
YoY Change 1065.41% -235.49%
Depreciation, Depletion And Amortization $6.290M $4.913M
YoY Change 28.03% 29.56%
Cash From Operating Activities -$7.380M -$8.145M
YoY Change -9.39% 22449.83%
INVESTING ACTIVITIES
Capital Expenditures $2.220M -$3.913M
YoY Change -156.73% 183.76%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$2.220M -$3.913M
YoY Change -43.27% -82.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 320.0K 34.00K
YoY Change 841.18% -138.54%
NET CHANGE
Cash From Operating Activities -7.380M -8.145M
Cash From Investing Activities -2.220M -3.913M
Cash From Financing Activities 320.0K 34.00K
Net Change In Cash -9.280M -12.02M
YoY Change -22.82% 9571.04%
FREE CASH FLOW
Cash From Operating Activities -$7.380M -$8.145M
Capital Expenditures $2.220M -$3.913M
Free Cash Flow -$9.600M -$4.232M
YoY Change 126.84% -415.14%

Facts In Submission

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note Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-68930000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.23
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.57
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.57
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.38
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.65
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.65
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134117122
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
134117122
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19020367
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19020367
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133601798
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
133601798
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18876752
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18876752
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-482045000
CY2021Q4 note Stockholders Equity Converted
StockholdersEquityConverted
-482045000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Increase In Carrying Amount Of Redeemable Preferred Stock
AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock
8395000
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
215000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
260000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-28351000
CY2022Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
85000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-501441000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Increase In Carrying Amount Of Redeemable Preferred Stock
AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock
-10614000
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
152000
CY2022Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
88000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
608000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-38360000
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-859000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-550602000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
144690000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6506000
CY2023Q1 note Withholding Taxes On Net Share Settlement Of Stock Based Compensation And Option Exercises
WithholdingTaxesOnNetShareSettlementOfStockBasedCompensationAndOptionExercises
-917000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-19273000
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-359000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
140434000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5482000
CY2023Q2 note Withholding Taxes On Net Share Settlement Of Stock Based Compensation And Option Exercises
WithholdingTaxesOnNetShareSettlementOfStockBasedCompensationAndOptionExercises
-494000
CY2023Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
-21410000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-30973000
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
328000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
93720000
us-gaap Net Income Loss
NetIncomeLoss
-50246000
us-gaap Net Income Loss
NetIncomeLoss
-66711000
us-gaap Depreciation
Depreciation
671000
us-gaap Depreciation
Depreciation
581000
note Amortization Of Intangible Assets And Capitalized Software Development Costs
AmortizationOfIntangibleAssetsAndCapitalizedSoftwareDevelopmentCosts
11373000
note Amortization Of Intangible Assets And Capitalized Software Development Costs
AmortizationOfIntangibleAssetsAndCapitalizedSoftwareDevelopmentCosts
9049000
note Amortization Of Deferred Costs To Obtain Revenue Contracts
AmortizationOfDeferredCostsToObtainRevenueContracts
1648000
note Amortization Of Deferred Costs To Obtain Revenue Contracts
AmortizationOfDeferredCostsToObtainRevenueContracts
1247000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
5837000
note Noncash Operating Lease Expense
NoncashOperatingLeaseExpense
2366000
note Noncash Operating Lease Expense
NoncashOperatingLeaseExpense
3209000
us-gaap Share Based Compensation
ShareBasedCompensation
11988000
us-gaap Share Based Compensation
ShareBasedCompensation
825000
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
378000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-3474000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
426000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
488000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
229000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-93000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-333000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-1537000
note Change In Fair Value Of Financial Instruments
ChangeInFairValueOfFinancialInstruments
-11693000
note Change In Fair Value Of Financial Instruments
ChangeInFairValueOfFinancialInstruments
3386000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
214000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-513000
us-gaap Paid In Kind Interest
PaidInKindInterest
2042000
us-gaap Paid In Kind Interest
PaidInKindInterest
27848000
note Non Cash Interest Expense
NonCashInterestExpense
2130000
note Non Cash Interest Expense
NonCashInterestExpense
15072000
note Gains Losses On Extinguishment Of Paycheck Protection Program Loan
GainsLossesOnExtinguishmentOfPaycheckProtectionProgramLoan
7667000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1644000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2793000
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
-2284000
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
4618000
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
1910000
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
2071000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-18000
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-4914000
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-1217000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
9595000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
13019000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1233000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1611000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-797000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-758000
note Increase Decrease In Contingent Liabilities From Acquisitions Current Portion
IncreaseDecreaseInContingentLiabilitiesFromAcquisitionsCurrentPortion
-39000
note Increase Decrease In Contingent Liabilities From Acquisitions Current Portion
IncreaseDecreaseInContingentLiabilitiesFromAcquisitionsCurrentPortion
-1267000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-4974000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-4121000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-6000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
1527000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-20206000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-18348000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
4086000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
6041000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
5010000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9096000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6041000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
6000000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
19478000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
53000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
30000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
617000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
367000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
88000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6564000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19727000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-383000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-352000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-23121000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5014000
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
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
38102000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27995000
us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
8390000
note Warrants Issued In Conjunction With Long Term Debt Issuance
WarrantsIssuedInConjunctionWithLongTermDebtIssuance
178000
note Warrants Issued In Conjunction With Long Term Debt Issuance
WarrantsIssuedInConjunctionWithLongTermDebtIssuance
436000
note Fees Payable To Debt Holders Settled Through Increase Of Debt Principal
FeesPayableToDebtHoldersSettledThroughIncreaseOfDebtPrincipal
100000
note Pik Interest Settled Through Issuance Of Additional Convertible Notes To Noteholders
PIKInterestSettledThroughIssuanceOfAdditionalConvertibleNotesToNoteholders
10734000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
343000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
28000
us-gaap Interest Paid Net
InterestPaidNet
9924000
us-gaap Interest Paid Net
InterestPaidNet
3263000
us-gaap Income Taxes Paid
IncomeTaxesPaid
49000
us-gaap Income Taxes Paid
IncomeTaxesPaid
70000
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>
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 $</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">65.6</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million of net cash proceeds from the Transactions. The Company’s cash, cash equivalents, and restricted cash were </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</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;">38.1</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 at June 30, 2023, compared with </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;">$</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">61.2</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million at December 31, 2022. Further, the Company had a negative working capital balance of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</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;">46.7</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 (excluding cash) at June 30, 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;">$</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">751.2</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million and </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</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 June 30, 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;">$</span><span style="font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">50.2</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million and </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</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;">66.7</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 for the six months ended June 30, 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 June 30, 2023, proceeds from expected product sales, and borrowings possibly available under the New Senior Term Loan, 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” and Note 18, "Subsequent Events" for additional details). The Company expects to be in compliance with its amended quarterly financial covenants, 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>
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
65600000
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
38100000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
61200000
CY2023Q2 note Working Capital Deficit
WorkingCapitalDeficit
46700000
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-751200000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-700700000
us-gaap Net Income Loss
NetIncomeLoss
-50200000
us-gaap Net Income Loss
NetIncomeLoss
-66700000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
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 June 30, 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;">, 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;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;">58</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="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, 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 June 30, 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;">985</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;">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;">June 30, 2023 or December 31, 2022. Revenue derived from the U.S. Federal Government was</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;">15</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;">%</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 the six months ended June 30, 2023 and 2022, respectively. As of June 30, 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;">85</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;">As of June 30, 2023 no vendors 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 balance. 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;">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;">. During the six months ended June 30, 2023 no vendors 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. 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 during the six months ended June 30, 2022.</span></p>
CY2023Q2 note Percentage Of Cash And Cash Equivalents Held
PercentageOfCashAndCashEquivalentsHeld
0.58
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
985000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32842000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
27174000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
64371000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
53245000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32842000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
27174000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
64371000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
53245000
CY2023Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1664000
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1464000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
30097000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-21924000
note Contract With Customer Liability New Deferrals Net Of Amounts Recognized
ContractWithCustomerLiabilityNewDeferralsNetOfAmountsRecognized
34988000
note Contract With Customer Liability Increase Decrease For Effects Of Foreign Currency
ContractWithCustomerLiabilityIncreaseDecreaseForEffectsOfForeignCurrency
-388000
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
42773000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
36487000
us-gaap Contract With Customer Liability Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerLiabilityIncreaseDecreaseForContractAcquiredInBusinessCombination
3941000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-27128000
note Contract With Customer Liability New Deferrals Net Of Amounts Recognized
ContractWithCustomerLiabilityNewDeferralsNetOfAmountsRecognized
36503000
note Contract With Customer Liability Increase Decrease For Effects Of Foreign Currency
ContractWithCustomerLiabilityIncreaseDecreaseForEffectsOfForeignCurrency
221000
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
50024000
CY2023Q2 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
1910000
CY2022Q2 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
2071000
CY2022Q2 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2023Q2 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
103303000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1215000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
2431000
us-gaap Operating Lease Cost
OperatingLeaseCost
3800000
us-gaap Operating Lease Cost
OperatingLeaseCost
4873000
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
242000
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
106000
us-gaap Variable Lease Cost
VariableLeaseCost
397000
us-gaap Variable Lease Cost
VariableLeaseCost
194000
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
161000
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
315000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
339000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
636000
CY2023Q2 us-gaap Lease Cost
LeaseCost
1618000
CY2022Q2 us-gaap Lease Cost
LeaseCost
2852000
us-gaap Lease Cost
LeaseCost
4536000
us-gaap Lease Cost
LeaseCost
5703000
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
26000
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
1337000
us-gaap Sublease Income
SubleaseIncome
1390000
us-gaap Sublease Income
SubleaseIncome
2675000
CY2022Q1 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
378000
us-gaap Operating Lease Payments
OperatingLeasePayments
6390000
note Payment Of Sublease Termination Fee
PaymentOfSubleaseTerminationFee
1682000
us-gaap Operating Lease Payments
OperatingLeasePayments
5793000
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
us-gaap Lease Expiration Date1
LeaseExpirationDate1
2023-03-31
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
171376000
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
63909000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
107467000
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
CY2022Q4 us-gaap Goodwill
Goodwill
194362000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
19282000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
12095000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
15625000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
12423000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
11987000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
11578000
CY2023Q2 note Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
43759000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
107467000
CY2023Q2 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
24122000
CY2023Q2 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
8882000
CY2023Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
15240000
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
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
247000
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
341000
CY2023Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1734000
CY2022Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
775000
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
3015000
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1346000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
5837000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
270000
CY2023Q2 us-gaap Goodwill
Goodwill
208077000
us-gaap Reporting Unit Zero Or Negative Carrying Amount Name
ReportingUnitZeroOrNegativeCarryingAmountName
PPIM
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3252000
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2243000
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
214768000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
162048000
CY2023Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
68000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
68000
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
214700000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
161980000
CY2023Q2 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
220751000
CY2022Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
182482000
note Shares Authorized
SharesAuthorized
1809000000
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1381000
CY2023Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
157000
CY2022Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
500000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1379000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
572000
CY2023Q2 note Non Capitalizable Business Combination Costs
NonCapitalizableBusinessCombinationCosts
150000
CY2022Q2 note Non Capitalizable Business Combination Costs
NonCapitalizableBusinessCombinationCosts
256000
note Non Capitalizable Business Combination Costs
NonCapitalizableBusinessCombinationCosts
334000
note Non Capitalizable Business Combination Costs
NonCapitalizableBusinessCombinationCosts
459000
CY2023Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-177000
CY2022Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-171000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-333000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-1537000
CY2023Q2 note Transaction Cost Related To Contingent Compensation Expense
TransactionCostRelatedToContingentCompensationExpense
179000
CY2022Q2 note Transaction Cost Related To Contingent Compensation Expense
TransactionCostRelatedToContingentCompensationExpense
442000
note Transaction Cost Related To Contingent Compensation Expense
TransactionCostRelatedToContingentCompensationExpense
337000
note Transaction Cost Related To Contingent Compensation Expense
TransactionCostRelatedToContingentCompensationExpense
488000
CY2023Q2 note Transaction Costs Gains
TransactionCostsGains
309000
CY2022Q2 note Transaction Costs Gains
TransactionCostsGains
1027000
note Transaction Costs Gains
TransactionCostsGains
1717000
note Transaction Costs Gains
TransactionCostsGains
-18000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-30973000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-38360000
us-gaap Net Income Loss
NetIncomeLoss
-50246000
us-gaap Net Income Loss
NetIncomeLoss
-66711000
CY2022Q2 note Deemed Dividend Change In Redemption Value Of Preferred Stock
DeemedDividendChangeInRedemptionValueOfPreferredStock
10614000
note Deemed Dividend Change In Redemption Value Of Preferred Stock
DeemedDividendChangeInRedemptionValueOfPreferredStock
2219000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-30973000
CY2023Q2 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
-30973000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-48974000
CY2022Q2 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
-48974000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-50246000
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
-50246000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-68930000
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
-68930000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
134117122
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134117122
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19020367
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19020367
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133601798
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
133601798
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18876752
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18876752
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.23
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.57
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.57
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.65
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.65
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
36508234
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
102507542
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
37045564
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
102798172
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
213000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-30760000
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0069
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
243000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-50003000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0049
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-176000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-38536000
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0046
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-550000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-67261000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0082
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
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
us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
89000
CY2023Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
639000
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
639000
note Maturity Period For Cash Equivalents
MaturityPeriodForCashEquivalents
three months or less
note Earned Cash Contingent Compensation Transferred From Level Three To Level One
EarnedCashContingentCompensationTransferredFromLevelThreeToLevelOne
2500000
note Earned Cash Contingent Compensation Other Transfer Of Assets And Liabilities Between Levels
EarnedCashContingentCompensationOtherTransferOfAssetsAndLiabilitiesBetweenLevels
0
note Earned Cash Contingent Compensation Other Transfer Of Assets And Liabilities Between Levels
EarnedCashContingentCompensationOtherTransferOfAssetsAndLiabilitiesBetweenLevels
0

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