2021 Q4 Form 10-K Financial Statement

#000152828722000006 Filed on March 10, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $11.00M $45.18M
YoY Change 9.83%
Cost Of Revenue $2.921M $11.75M
YoY Change 8.12%
Gross Profit $8.076M $33.44M
YoY Change 10.45%
Gross Profit Margin 73.44% 74.0%
Selling, General & Admin $11.75M $38.96M
YoY Change 41.02%
% of Gross Profit 145.44% 116.53%
Research & Development $5.345M $18.21M
YoY Change 16.03%
% of Gross Profit 66.18% 54.47%
Depreciation & Amortization $79.00K $300.0K
YoY Change 0.0%
% of Gross Profit 0.98% 0.9%
Operating Expenses $17.09M $57.17M
YoY Change 31.97%
Operating Profit -$9.015M -$23.74M
YoY Change 81.88%
Interest Expense -$1.414M $7.410M
YoY Change -35.49%
% of Operating Profit
Other Income/Expense, Net -$264.0K -$5.381M
YoY Change -2568.35%
Pretax Income -$10.69M -$36.08M
YoY Change 48.6%
Income Tax
% Of Pretax Income
Net Earnings -$10.69M -$36.08M
YoY Change 48.61%
Net Earnings / Revenue -97.24% -79.85%
Basic Earnings Per Share -$2.17
Diluted Earnings Per Share -$441.0K -$2.17
COMMON SHARES
Basic Shares Outstanding 24.31M shares 16.61M shares
Diluted Shares Outstanding 16.61M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $115.6M $115.6M $38.08M
YoY Change 203.54% 203.53%
Cash & Equivalents $19.19M $19.19M $26.39M
Short-Term Investments $96.40M $96.40M $11.69M
Other Short-Term Assets $2.319M $2.319M
YoY Change 96.53%
Inventory $7.822M $7.822M $6.909M
Prepaid Expenses
Receivables $7.091M $7.091M $8.395M
Other Receivables $0.00 $0.00
Total Short-Term Assets $132.8M $132.8M $54.56M
YoY Change 143.42% 143.43%
LONG-TERM ASSETS
Property, Plant & Equipment $603.0K $603.0K $515.0K
YoY Change 17.09% 15.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $21.00K $143.0K $23.00K
YoY Change -8.7% -83.56%
Total Long-Term Assets $746.0K $746.0K $1.388M
YoY Change -46.25% -46.33%
TOTAL ASSETS
Total Short-Term Assets $132.8M $132.8M $54.56M
Total Long-Term Assets $746.0K $746.0K $1.388M
Total Assets $133.6M $133.6M $55.95M
YoY Change 138.72% 138.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.378M $1.378M $949.0K
YoY Change 45.21% 45.05%
Accrued Expenses $7.923M $7.923M $6.603M
YoY Change 19.99% 33.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $2.043M
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $9.301M $9.301M $9.595M
YoY Change -3.06% -3.11%
LONG-TERM LIABILITIES
Long-Term Debt $49.85M $49.85M $50.82M
YoY Change -1.92% -2.62%
Other Long-Term Liabilities $0.00 $911.0K $274.0K
YoY Change -100.0% -42.34%
Total Long-Term Liabilities $49.85M $50.76M $51.10M
YoY Change -2.44% -3.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.301M $9.301M $9.595M
Total Long-Term Liabilities $49.85M $50.76M $51.10M
Total Liabilities $60.06M $60.06M $62.36M
YoY Change -3.69% -3.69%
SHAREHOLDERS EQUITY
Retained Earnings -$423.8M -$387.7M
YoY Change 9.31%
Common Stock $24.00K $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $73.50M $73.50M -$147.8M
YoY Change
Total Liabilities & Shareholders Equity $133.6M $133.6M $55.95M
YoY Change 138.72% 138.72%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$10.69M -$36.08M
YoY Change 48.61%
Depreciation, Depletion And Amortization $79.00K $300.0K
YoY Change 0.0%
Cash From Operating Activities -$8.203M -$24.60M
YoY Change 13.89%
INVESTING ACTIVITIES
Capital Expenditures -$154.0K $384.0K
YoY Change 519.35%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$85.01M
YoY Change 693.76%
Cash From Investing Activities -$154.0K -$85.40M
YoY Change 693.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 911.0K $102.5M
YoY Change 86.38%
NET CHANGE
Cash From Operating Activities -8.203M -$24.60M
Cash From Investing Activities -154.0K -$85.40M
Cash From Financing Activities 911.0K $102.5M
Net Change In Cash -7.446M -$7.447M
YoY Change -132.9%
FREE CASH FLOW
Cash From Operating Activities -$8.203M -$24.60M
Capital Expenditures -$154.0K $384.0K
Free Cash Flow -$8.049M -$24.98M
YoY Change 15.34%

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CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1164000 USD
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-120000 USD
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
479000 USD
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-5000 USD
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1719000 USD
CY2020 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-712000 USD
CY2021 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-248000 USD
CY2020 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
248000 USD
CY2021 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
-566000 USD
CY2020 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
-12000 USD
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24577000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-21609000 USD
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
384000 USD
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
62000 USD
CY2021 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
0 USD
CY2020 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
6300000 USD
CY2021 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
85012000 USD
CY2020 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
17005000 USD
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-85396000 USD
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10767000 USD
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
919000 USD
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
11000 USD
CY2021 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
109089000 USD
CY2020 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
3392000 USD
CY2020 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
210000 USD
CY2021 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 USD
CY2020 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
54047000 USD
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2020 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
950000 USD
CY2021 us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
0 USD
CY2020 us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
31696000 USD
CY2021 us-gaap Repayments Of Debt
RepaymentsOfDebt
4090000 USD
CY2020 us-gaap Repayments Of Debt
RepaymentsOfDebt
42120000 USD
CY2021 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 USD
CY2020 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
11867000 USD
CY2021 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
CY2020 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
12535000 USD
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
102526000 USD
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
55009000 USD
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7447000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
22633000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26756000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4123000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19309000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26756000 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19187000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26390000 USD
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
122000 USD
CY2021Q2 us-gaap Common Stock Shares Authorized
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200000000 shares
CY2020Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
366000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19309000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26756000 USD
CY2021 us-gaap Interest Paid Net
InterestPaidNet
6337000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
4411000 USD
CY2021 npce Increase Decrease In Accrued Liabilities Early Exercise Of Options
IncreaseDecreaseInAccruedLiabilitiesEarlyExerciseOfOptions
2000 USD
CY2020 npce Increase Decrease In Accrued Liabilities Early Exercise Of Options
IncreaseDecreaseInAccruedLiabilitiesEarlyExerciseOfOptions
2000 USD
CY2021 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0 USD
CY2020 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
34113000 USD
CY2021 npce Extinguishment Of Derivative Liability
ExtinguishmentOfDerivativeLiability
0 USD
CY2020 npce Extinguishment Of Derivative Liability
ExtinguishmentOfDerivativeLiability
6239000 USD
CY2021 npce Class Of Warrant Or Right Warrants Issued
ClassOfWarrantOrRightWarrantsIssued
0 USD
CY2020 npce Class Of Warrant Or Right Warrants Issued
ClassOfWarrantOrRightWarrantsIssued
550000 USD
CY2021 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0 USD
CY2020 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
274000 USD
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-423800000 USD
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24600000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-21600000 USD
CY2021Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
115600000 USD
CY2021 npce Debt Instrument Covenant Minimum Annual Net Revenue
DebtInstrumentCovenantMinimumAnnualNetRevenue
43000000 USD
CY2021Q4 npce Debt Instrument Covenant Minimum Cash And Cash Equivalents Required After Completion Of Ipo
DebtInstrumentCovenantMinimumCashAndCashEquivalentsRequiredAfterCompletionOfIPO
5000000 USD
CY2021Q2 npce Research And Development Arrangement With Federal Government Approved Funding Year1
ResearchAndDevelopmentArrangementWithFederalGovernmentApprovedFundingYear1
800000 USD
CY2021 us-gaap Research And Development Arrangement Contract To Perform For Others Compensation Earned
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
100000 USD
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements. The Company uses significant judgment when making estimates related to stock-based compensation, the valuation of deferred tax assets and related valuation allowances, provision for excess and obsolete inventories, the valuation of derivative financial instruments and redeemable convertible preferred stock warrant liability and, prior to the IPO, the valuation of its common stock. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.</span></div>
CY2021 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2021 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2021Q4 us-gaap Contract With Customer Receivable After Allowance For Credit Loss Current
ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent
7100000 USD
CY2020Q4 us-gaap Contract With Customer Receivable After Allowance For Credit Loss Current
ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent
8400000 USD
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentration of Credit Risk, and Other Risks and Uncertainties</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to credit risk consist of cash and cash equivalents, short-term investments and accounts receivable to the extent of the amounts recorded on the balance sheet. The Company’s cash is invested in one major financial institution in the United States. Deposits in this financial institution may exceed federally insured limits. The Company’s cash equivalents are invested in money market funds.</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s accounts receivable are due from a variety of health care organizations in the United States. For the years ended December 31, 2021 and December 31, 2020, there were no customers that represented 10% or more of revenue. As of December 31, 2021 and December 31, 2020, no customer represented 10% or more of the Company’s accounts receivable.</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to certain risks, including that its devices may not be approved or cleared or continue to be approved or cleared for marketing by governmental authorities or be successfully marketed for expanded indications. There can be no assurance that the Company’s products will achieve widespread adoption in the marketplace, nor can there be any assurance that existing devices or any future devices can be developed or manufactured at an acceptable cost and speed and with appropriate performance characteristics. The Company is also subject to risks common to companies in the medical device industry, including, but not limited to, new technological innovations, dependence on healthcare providers to prescribe initial implants and replacements, dependence upon third-party payors to provide adequate coverage and reimbursement, dependence on key personnel, single-source suppliers and vendors in connection with the manufacture of its products, concentration of Level 4 CECs and epileptologists, obtaining, maintaining, protecting, enforcing, and defending intellectual property rights and proprietary technology, product liability claims, legal proceedings, and compliance with government regulations.</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s medical devices require approvals or clearances from the U.S. Food and Drug Administration, or the FDA, or international regulatory agencies. In addition, in order to continue the Company’s operations, compliance with various federal and state laws is required. If approvals or clearances were withdrawn by the FDA for the Company’s current products or if such approvals or clearances were denied or delayed for future products, product updates, or expanded indications for use, it would have a material adverse impact on the Company.</span></div>
CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
CY2020Q4 us-gaap Deferred Costs
DeferredCosts
500000 USD
CY2021Q4 us-gaap Deferred Costs
DeferredCosts
0 USD
CY2021Q2 npce Research And Development Arrangement With Federal Government Term
ResearchAndDevelopmentArrangementWithFederalGovernmentTerm
P5Y
CY2021Q2 npce Research And Development Arrangement With Federal Government Total Estimated Cost
ResearchAndDevelopmentArrangementWithFederalGovernmentTotalEstimatedCost
9300000 USD
CY2021 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Warranty</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Warranty costs are accrued based on the Company’s best estimates when management determines that it is probable a charge or liability has been incurred and the amount of loss can be reasonably estimated. While the Company believes that historical experience provides a reliable basis for estimating such warranty cost, unforeseen quality issues or component failure rates could result in future costs in excess of such estimates. The warranty liability as of December 31, 2021 and December 31, 2020 was immaterial.</span></div>
CY2021Q4 npce Royalty Payable Upon Net Sales Percentage
RoyaltyPayableUponNetSalesPercentage
0.01
CY2021Q4 npce Maximum Limit Of Aggregate Royalty Payable
MaximumLimitOfAggregateRoyaltyPayable
100000000 USD
CY2021 us-gaap Royalty Expense
RoyaltyExpense
500000 USD
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
369000 USD
CY2020 us-gaap Royalty Expense
RoyaltyExpense
400000 USD
CY2021 us-gaap Advertising Expense
AdvertisingExpense
100000 USD
CY2020 us-gaap Advertising Expense
AdvertisingExpense
100000 USD
CY2020Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
11689000 USD
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
16751000 USD
CY2021Q4 us-gaap Deferred Rent Credit
DeferredRentCredit
1400000 USD
CY2021Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
16498000 USD
CY2021Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
96397000 USD
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
112895000 USD
CY2021Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
0 USD
CY2020Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
5062000 USD
CY2020Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
369000 USD
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
96702000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
11656000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
-305000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
33000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
96397000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
11689000 USD
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
0 USD
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
5236000 USD
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
0 USD
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
5605000 USD
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0 USD
CY2019Q4 npce Debt Instrument Convertible Equity Securities Probability Percentage
DebtInstrumentConvertibleEquitySecuritiesProbabilityPercentage
0.99
CY2020Q4 npce Debt Instrument Convertible Equity Securities Probability Percentage
DebtInstrumentConvertibleEquitySecuritiesProbabilityPercentage
0.50
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
2232000 USD
CY2020Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1721000 USD
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
879000 USD
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1487000 USD
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4711000 USD
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
3701000 USD
CY2021Q4 us-gaap Inventory Net
InventoryNet
7822000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
6909000 USD
CY2021Q4 us-gaap Deferred Rent Credit
DeferredRentCredit
1400000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9060000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8676000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8457000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8161000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
603000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
515000 USD
CY2021 us-gaap Depreciation
Depreciation
300000 USD
CY2020 us-gaap Depreciation
Depreciation
300000 USD
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6547000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4565000 USD
CY2021Q4 npce Accrued Inventory Liability Current
AccruedInventoryLiabilityCurrent
251000 USD
CY2020Q4 npce Accrued Inventory Liability Current
AccruedInventoryLiabilityCurrent
636000 USD
CY2021Q4 us-gaap Accrued Professional Fees Current
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109000 USD
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
279000 USD
CY2021Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
490000 USD
CY2020Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
666000 USD
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
526000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
457000 USD
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
7923000 USD
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
6603000 USD
CY2018Q2 npce Operating Lease Renewal Term
OperatingLeaseRenewalTerm
P5Y
CY2020Q2 npce Operating Lease Percent Rental Payment Deferred
OperatingLeasePercentRentalPaymentDeferred
0.50
CY2020Q2 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
300000 USD
CY2020Q4 npce Operating Lease Deferred Rent Interest Rate Annual Rate
OperatingLeaseDeferredRentInterestRateAnnualRate
0.080
CY2021Q2 npce Number Of Deferred Rent Installments
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3 installment
CY2021 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2800000 USD
CY2020 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2700000 USD
CY2020Q4 us-gaap Deferred Rent Credit
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2000000 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
3172000 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
3267000 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1666000 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
8105000 USD
CY2021Q4 npce Indemnification Liability Officers And Directors
IndemnificationLiabilityOfficersAndDirectors
0 USD
CY2020Q4 npce Indemnification Liability Officers And Directors
IndemnificationLiabilityOfficersAndDirectors
0 USD
CY2021Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 USD
CY2020Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 USD
CY2020Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
60757386 shares
CY2020Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
16614178 shares
CY2020Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
16614178 shares
CY2020Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
141422000 USD
CY2020Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
227755000 USD
CY2020 npce Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Granted During Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesGrantedDuringPeriod
2951534 shares
CY2020 npce Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Canceled During Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesCanceledDuringPeriod
178535 shares
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2020 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0 USD
CY2021 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0 USD
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
6237974 shares
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
20615380 shares
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
0 shares
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
3591888 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
818889 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
2900000 shares
CY2021 npce Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Retired During Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesRetiredDuringPeriod
485581 shares
CY2021 npce Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Granted During Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesGrantedDuringPeriod
1218021 shares
CY2021 npce Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Canceled During Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesCanceledDuringPeriod
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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P7Y10M20D
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2020 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.03
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y6M25D
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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588980 shares
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3038970 shares
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2.61
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y9M29D
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P8Y9M29D
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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2300000 USD
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100000 USD
CY2021Q4 npce Share Based Compensation Arrangement By Share Based Payment Award Options Subject To Repurchase
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsSubjectToRepurchase
174171 shares
CY2020Q4 npce Share Based Compensation Arrangement By Share Based Payment Award Options Subject To Repurchase
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsSubjectToRepurchase
30802 shares
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.85
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23.58
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AllocatedShareBasedCompensationExpense
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CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4288000 USD
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1379000 USD
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P3Y2M12D
CY2020Q4 us-gaap Share Price
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0.78
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0.210
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0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.040
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.076
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.013
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-0.024
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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-0.055
CY2021 npce Effective Income Tax Rate Reconciliation Warrant Mark To Market Adjustment Percent
EffectiveIncomeTaxRateReconciliationWarrantMarkToMarketAdjustmentPercent
-0.030
CY2020 npce Effective Income Tax Rate Reconciliation Warrant Mark To Market Adjustment Percent
EffectiveIncomeTaxRateReconciliationWarrantMarkToMarketAdjustmentPercent
0.002
CY2021 npce Effective Income Tax Rate Reconciliation Reserve For Uncertain Tax Positions Percent
EffectiveIncomeTaxRateReconciliationReserveForUncertainTaxPositionsPercent
-0.002
CY2020 npce Effective Income Tax Rate Reconciliation Reserve For Uncertain Tax Positions Percent
EffectiveIncomeTaxRateReconciliationReserveForUncertainTaxPositionsPercent
-0.004
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.215
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.218
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.029
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021Q4 us-gaap Deferred Tax Assets Gross
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51992000 USD
CY2020Q4 us-gaap Deferred Tax Assets Gross
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44220000 USD
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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35754000 USD
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
30367000 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
11121000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
10327000 USD
CY2021Q4 npce Deferred Tax Assets Property Plant And Equipment Inventory And Intangible Assets
DeferredTaxAssetsPropertyPlantAndEquipmentInventoryAndIntangibleAssets
120000 USD
CY2020Q4 npce Deferred Tax Assets Property Plant And Equipment Inventory And Intangible Assets
DeferredTaxAssetsPropertyPlantAndEquipmentInventoryAndIntangibleAssets
743000 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
1600000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
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1409000 USD
CY2021Q4 us-gaap Deferred Tax Asset Interest Carryforward
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781000 USD
CY2020Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
146000 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
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44220000 USD
CY2021Q4 us-gaap Deferred Tax Assets Net
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0 USD
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DeferredTaxAssetsNet
0 USD
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51992000 USD
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7800000 USD
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5300000 USD
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1500000 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits
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1390000 USD
CY2019Q4 us-gaap Unrecognized Tax Benefits
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1280000 USD
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
99000 USD
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
109000 USD
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1000 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits
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1489000 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits
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1390000 USD
CY2021 us-gaap Net Income Loss
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-36080000 USD
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CY2021 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
0 USD
CY2020 us-gaap Temporary Equity Accretion To Redemption Value
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228000 USD
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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-36080000 USD
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-24050000 USD
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16608800 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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16608800 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
204068 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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204068 shares
CY2021 us-gaap Earnings Per Share Basic
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-2.17
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CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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3923962 shares
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19827068 shares

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