2022 Q4 Form 10-Q Financial Statement

#000162828022029536 Filed on November 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q4
Revenue $17.04M $15.38M $0.00
YoY Change
Cost Of Revenue $1.114M $3.877M
YoY Change
Gross Profit $15.92M $11.50M
YoY Change
Gross Profit Margin 93.46% 74.79%
Selling, General & Admin $17.04M $35.07M $712.4K
YoY Change 2292.06% 33541.25%
% of Gross Profit 107.03% 304.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $140.0K $134.0K
YoY Change 9.84%
% of Gross Profit 0.88% 1.17%
Operating Expenses $17.18M $35.07M $712.4K
YoY Change 2311.71% 33541.25%
Operating Profit -$1.260M -$23.57M
YoY Change 22508.37%
Interest Expense -$1.686M -$735.0K $3.000K
YoY Change -56300.0% -8266.67%
% of Operating Profit
Other Income/Expense, Net $8.750M -$13.71M
YoY Change
Pretax Income $5.804M -$40.93M -$709.4K
YoY Change -918.11% 39162.35%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $5.804M -$40.93M -$709.4K
YoY Change -918.11% 39162.73%
Net Earnings / Revenue 34.07% -266.15%
Basic Earnings Per Share -$1.67
Diluted Earnings Per Share $0.15 -$1.67 -$45.22K
COMMON SHARES
Basic Shares Outstanding 36.78M shares 37.92M 15.69M
Diluted Shares Outstanding 24.53M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $38.97M $28.02M $687.6K
YoY Change 5567.12% 3021.34%
Cash & Equivalents $38.97M $28.02M $687.6K
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $2.585M $28.27M $286.7K
YoY Change 801.67% 9734.09%
Inventory
Prepaid Expenses
Receivables $5.872M $6.336M $2.638M
Other Receivables $0.00 $0.00
Total Short-Term Assets $47.42M $62.63M $1.043M
YoY Change 4447.4% 4895.02%
LONG-TERM ASSETS
Property, Plant & Equipment $88.00K $67.00K $90.00K
YoY Change -2.22%
Goodwill $1.451M $1.427M $1.427M
YoY Change 1.68%
Intangibles $2.541M $2.517M $2.888M
YoY Change -12.02%
Long-Term Investments $125.0M
YoY Change
Other Assets $64.00K $78.00K $191.4K
YoY Change -66.57% -70.4%
Total Long-Term Assets $4.888M $4.352M $125.2M
YoY Change -96.1% -96.53%
TOTAL ASSETS
Total Short-Term Assets $47.42M $62.63M $1.043M
Total Long-Term Assets $4.888M $4.352M $125.2M
Total Assets $52.31M $66.99M $126.2M
YoY Change -58.56% -47.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.174M $4.961M $583.3K
YoY Change 1129.83% 4367.2%
Accrued Expenses $4.765M $5.556M $4.601M
YoY Change 3.56%
Deferred Revenue $2.232M $2.186M $1.888M
YoY Change 18.22%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $1.264M $1.169M $442.0K
YoY Change 185.97%
Total Short-Term Liabilities $16.49M $34.60M $583.3K
YoY Change 2727.04% 22361.6%
LONG-TERM LIABILITIES
Long-Term Debt $24.97M $24.49M $0.00
YoY Change
Other Long-Term Liabilities $928.0K $651.0K $4.375M
YoY Change -78.79% -85.12%
Total Long-Term Liabilities $24.97M $24.49M $4.375M
YoY Change 470.74% 459.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.49M $34.60M $583.3K
Total Long-Term Liabilities $24.97M $24.49M $4.375M
Total Liabilities $42.39M $59.75M $4.958M
YoY Change 754.9% 1219.22%
SHAREHOLDERS EQUITY
Retained Earnings -$148.4M -$154.2M -$3.721M
YoY Change 3887.79% 5019.66%
Common Stock $4.000K $4.000K $318.00
YoY Change 1157.86% 1157.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.922M $7.237M -$3.721M
YoY Change
Total Liabilities & Shareholders Equity $52.31M $66.99M $126.2M
YoY Change -58.56% -47.05%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q4
OPERATING ACTIVITIES
Net Income $5.804M -$40.93M -$709.4K
YoY Change -918.11% 39162.73%
Depreciation, Depletion And Amortization $140.0K $134.0K
YoY Change 9.84%
Cash From Operating Activities $775.0K -$3.059M -$167.2K
YoY Change -563.41% 395.76%
INVESTING ACTIVITIES
Capital Expenditures $15.00K $36.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$102.0K $1.988M $0.00
YoY Change -101.59%
Cash From Investing Activities -$117.0K $1.952M $0.00
YoY Change -101.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -14.44M 51.52M -43.00K
YoY Change 33469.77% -59.27%
NET CHANGE
Cash From Operating Activities 775.0K -3.059M -167.2K
Cash From Investing Activities -117.0K 1.952M 0.000
Cash From Financing Activities -14.44M 51.52M -43.00K
Net Change In Cash -13.78M 50.42M -210.2K
YoY Change 6452.99% 5644.19%
FREE CASH FLOW
Cash From Operating Activities $775.0K -$3.059M -$167.2K
Capital Expenditures $15.00K $36.00K
Free Cash Flow $760.0K -$3.095M
YoY Change

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55000 usd
CY2022Q3 pet Stock Issued During Period Value Reverse Recapitalization Contingent Consideration Equity
StockIssuedDuringPeriodValueReverseRecapitalizationContingentConsiderationEquity
23867000 usd
CY2022Q3 pet Stock Issued During Period Value Reverse Recapitalization Contingent Consideration Equity
StockIssuedDuringPeriodValueReverseRecapitalizationContingentConsiderationEquity
23867000 usd
CY2022Q3 pet Stock Issued During Period Value Reverse Recapitalization
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CY2022Q3 us-gaap Net Income Loss
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CY2022Q3 us-gaap Temporary Equity Shares Outstanding
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CY2022Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0 usd
CY2022Q3 us-gaap Stockholders Equity
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7237000 usd
CY2020Q4 us-gaap Temporary Equity Shares Outstanding
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us-gaap Net Income Loss
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CY2020Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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CY2020Q4 us-gaap Stockholders Equity
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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122000 usd
CY2021Q2 us-gaap Temporary Equity Shares Outstanding
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23858824 shares
CY2021Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
110265000 usd
CY2021Q2 us-gaap Stockholders Equity
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CY2021Q3 us-gaap Stock Issued During Period Value Acquisitions
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CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
60000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
1554000 usd
CY2021Q3 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
23858824 shares
CY2021Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
110265000 usd
CY2021Q3 us-gaap Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
ShareBasedCompensation
182000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
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us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Gains Losses On Extinguishment Of Debt
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3482000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
431000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
232000 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
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us-gaap Issuance Of Stock And Warrants For Services Or Claims
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us-gaap Paid In Kind Interest
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us-gaap Paid In Kind Interest
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us-gaap Gain Loss On Derivative Instruments Net Pretax
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us-gaap Gain Loss On Derivative Instruments Net Pretax
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us-gaap Increase Decrease In Accounts Receivable
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3698000 usd
us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
512000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
687000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
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us-gaap Increase Decrease In Other Noncurrent Assets
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us-gaap Increase Decrease In Accounts Payable
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2662000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
19000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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us-gaap Increase Decrease In Accrued Liabilities
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1674000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
298000 usd
us-gaap Increase Decrease In Contract With Customer Liability
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35000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
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us-gaap Increase Decrease In Other Noncurrent Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Proceeds From Sale Of Short Term Investments
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2550000 usd
us-gaap Proceeds From Sale Of Short Term Investments
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us-gaap Payment For Contingent Consideration Liability Investing Activities
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us-gaap Payment For Contingent Consideration Liability Investing Activities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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1952000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4956000 usd
us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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us-gaap Repayments Of Long Term Debt
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331000 usd
us-gaap Interest Paid Net
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us-gaap Repayments Of Long Term Debt
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us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
29445000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 usd
us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
10925000 usd
us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
0 usd
pet Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
11485000 usd
pet Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
0 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
51524000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
49898000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2845000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7065000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
52743000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1673000 usd
us-gaap Interest Paid Net
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784000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Stock Issued1
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0 usd
us-gaap Stock Issued1
StockIssued1
166000 usd
pet Non Cash Derivative Instrument Contingent Consideration
NonCashDerivativeInstrumentContingentConsideration
5242000 usd
pet Non Cash Derivative Instrument Contingent Consideration
NonCashDerivativeInstrumentContingentConsideration
0 usd
us-gaap Conversion Of Stock Amount Converted1
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121188000 usd
us-gaap Conversion Of Stock Amount Converted1
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0 usd
CY2022Q3 pet Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
0.97
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt;padding-left:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates, judgements, and assumptions that affect the reported amounts of assets and liabilities and disclosures as of the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on various factors, including historical experience, and on various other assumptions that are believed to be reasonable under the circumstances, when these carrying values are not readily available from other sources.</span></div><div style="margin-top:12pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Significant items subject to estimates and assumptions include, but are not limited to, fair values of financial instruments, assumptions used in the valuation of common and preferred stock, valuation of stock- based compensation and warrants, and the valuation allowance for deferred income taxes. Actual results may differ from these estimates.</span></div>
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-154200000 usd
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-109900000 usd
CY2022Q3 us-gaap Escrow Deposit
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us-gaap Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments
0 usd
us-gaap Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments
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us-gaap Impairment Of Intangible Assets Finitelived
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0 usd
us-gaap Impairment Of Intangible Assets Finitelived
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0 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0
us-gaap Concentration Risk Credit Risk
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<div style="margin-top:12pt;padding-left:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="margin-top:12pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash, cash equivalents, investments, and amounts at payment processors are potentially subject to concentration of credit risk. Such balances are maintained at financial institutions that management determines to be of high-credit quality. Cash accounts at each institution are insured by the Federal Deposit Insurance Corporation ("FDIC") up to certain limits. At times, such deposits may be in excess of the FDIC insurance limit. The Company has not experienced any losses on its deposits.</span></div>
CY2022Q3 us-gaap Advertising Expense
AdvertisingExpense
1700000 usd
CY2021Q3 us-gaap Advertising Expense
AdvertisingExpense
1800000 usd
us-gaap Advertising Expense
AdvertisingExpense
5200000 usd
us-gaap Advertising Expense
AdvertisingExpense
2700000 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
ReclassificationsCertain reclassifications have been made to prior year financial information to conform to the current year presentation. In particular, certain Money market funds have been reclassified out of Short-term investments available for sale and into Cash and cash equivalents on the Condensed Consolidated Balance Sheet, and Statement of Cash Flows.
CY2022Q3 pet Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
0.97
CY2022Q3 pet Proceeds From Redemption Of Common Stock
ProceedsFromRedemptionOfCommonStock
29100000 usd
CY2022Q3 pet Proceeds From Redemption Of Common Stock Classified As Restricted Cash Current
ProceedsFromRedemptionOfCommonStockClassifiedAsRestrictedCashCurrent
23900000 usd
CY2022Q3 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
5000000 usd
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 pet Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
0.97
CY2022Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
91130 shares
CY2022Q3 pet Number Of Lenders
NumberOfLenders
2 lender
CY2022Q3 pet Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
0.97
CY2022Q3 pet Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
0.97
CY2022Q3 pet Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
0.97
CY2022Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
24700000 usd
CY2022Q3 pet Derivative Instrument Contingent Consideration Liability Shares
DerivativeInstrumentContingentConsiderationLiabilityShares
2393378 shares
CY2022Q3 pet Derivative Instrument Contingent Consideration Liability Price Per Share
DerivativeInstrumentContingentConsiderationLiabilityPricePerShare
10.30
CY2022Q3 pet Cash Acquired Through Reverse Recapitalization
CashAcquiredThroughReverseRecapitalization
28330000 usd
CY2022Q3 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
5202000 usd
CY2022Q3 pet Payments Of Reverse Recapitalization Transaction Costs
PaymentsOfReverseRecapitalizationTransactionCosts
12729000 usd
CY2022Q3 pet Reverse Recapitalization Accrued Transaction Costs
ReverseRecapitalizationAccruedTransactionCosts
9318000 usd
CY2022Q3 pet Reverse Recapitalization Net
ReverseRecapitalizationNet
11485000 usd
CY2022Q3 pet Stock Issued During Period Shares Reverse Recapitalization
StockIssuedDuringPeriodSharesReverseRecapitalization
6523530 shares
CY2022Q3 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
122434 shares
CY2022Q3 pet Stock Issued During Period Shares Reverse Recapitalization And Other
StockIssuedDuringPeriodSharesReverseRecapitalizationAndOther
6645964 shares
CY2022Q3 pet Stock Converted Reverse Recapitalization
StockConvertedReverseRecapitalization
31100000 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
37745964 shares
CY2022Q3 pet Derivative Instrument Contingent Consideration Liability Shares
DerivativeInstrumentContingentConsiderationLiabilityShares
2393378 shares
CY2022Q3 us-gaap Shares Outstanding
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30863283 shares
CY2022Q3 pet Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
0.97
CY2022Q3 pet Reverse Recapitalization Contingent Consideration Equity Earnout Period
ReverseRecapitalizationContingentConsiderationEquityEarnoutPeriod
P3Y
CY2022Q3 pet Stock Issued During Period Value Reverse Recapitalization Contingent Consideration Equity
StockIssuedDuringPeriodValueReverseRecapitalizationContingentConsiderationEquity
23900000 usd
CY2022Q3 pet Reverse Recapitalization Transaction Costs
ReverseRecapitalizationTransactionCosts
39500000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15379000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5880000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
37829000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12036000 usd
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2200000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1900000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
300000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
100000 usd
CY2022Q3 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
19668000 usd
CY2022Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
-5960000 usd
CY2022Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings
-13708000 usd
CY2022Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
-19668000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
400000 usd
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2600000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
92000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
227000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
319000 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11M
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.11
CY2019Q4 us-gaap Income Tax Examination Estimate Of Possible Loss
IncomeTaxExaminationEstimateOfPossibleLoss
1200000 usd
CY2022Q2 us-gaap Income Tax Examination Liability Refund Adjustment From Settlement With Taxing Authority
IncomeTaxExaminationLiabilityRefundAdjustmentFromSettlementWithTaxingAuthority
-1200000 usd
CY2022Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
0 usd
CY2021Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
800000 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
272000 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1250000 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1738000 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
25581000 usd
CY2022Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
28841000 usd
CY2022Q3 pet Line Of Credit Facility Financial Covenants Minimum Liquidity
LineOfCreditFacilityFinancialCovenantsMinimumLiquidity
5000000 usd
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
24545386 shares
CY2020Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
23858824 shares
CY2021Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
23858824 shares
CY2021Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
110265000 usd
CY2021Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
67417000 usd
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
110000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
43763126 shares
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
38095337 shares
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
38095337 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
6121253 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
6121253 shares
CY2022Q3 pet Common Stock Exchange Ratio
CommonStockExchangeRatio
0.97
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
182000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
23922000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
60000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
24016000 usd
pet Number Of Lenders
NumberOfLenders
2
CY2021Q3 pet Fair Value Of Warrants Price
FairValueOfWarrantsPrice
1.32
CY2022Q3 pet Class Of Warrant Or Right Redemption Of Warrants Or Rights Reference Price
ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsReferencePrice
16.50
pet Class Of Warrant Or Right Redemption Of Warrants Or Rights Threshold Trading Days
ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsThresholdTradingDays
20 day
pet Class Of Warrant Or Right Redemption Of Warrants Or Rights Consecutive Trading Days
ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsConsecutiveTradingDays
30 day
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-793000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-40931000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
1554000 usd
us-gaap Net Income Loss
NetIncomeLoss
-44371000 usd
us-gaap Net Income Loss
NetIncomeLoss
-3587000 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24534325 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5885755 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12322230 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5616077 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24534325 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37473059 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12322230 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5616077 shares
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.67
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.60
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.64
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.67
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.60
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.64
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
40712231 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
31104287 shares
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
0 usd
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
0 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0

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0001628280-22-029536.txt Edgar Link pending
0001628280-22-029536-xbrl.zip Edgar Link pending
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pet-20220930.htm Edgar Link pending
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