$PI
IMPINJ INC

2022 Q3 Form 10-Q Financial Statement

#000095017022013222 Filed on July 27, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $68.27M $59.80M $53.14M
YoY Change 51.06% 26.5% 17.45%
Cost Of Revenue $30.84M $28.29M $24.37M
YoY Change 39.02% 25.8% 4.72%
Gross Profit $37.44M $31.50M $28.78M
YoY Change 62.67% 27.14% 30.93%
Gross Profit Margin 54.83% 52.68% 54.15%
Selling, General & Admin $20.41M $21.61M $20.11M
YoY Change 9.77% 25.68% 27.25%
% of Gross Profit 54.53% 68.6% 69.86%
Research & Development $18.77M $18.37M $17.99M
YoY Change 11.78% 15.53% 30.45%
% of Gross Profit 50.13% 58.31% 62.51%
Depreciation & Amortization $1.483M $1.465M $1.508M
YoY Change 35.43% 41.41% 45.0%
% of Gross Profit 3.96% 4.65% 5.24%
Operating Expenses $39.18M $39.98M $38.09M
YoY Change 10.72% 20.8% 23.47%
Operating Profit -$1.744M -$8.476M -$9.315M
YoY Change -85.9% 1.91% 4.99%
Interest Expense $1.205M $1.250M -$1.261M
YoY Change -329.09% 138.1% 137.92%
% of Operating Profit
Other Income/Expense, Net $774.0K $429.0K $164.0K
YoY Change 38600.0% -10825.0% 720.0%
Pretax Income -$2.175M -$11.53M -$10.41M
YoY Change -83.13% 30.33% 11.12%
Income Tax $24.00K -$6.000K $49.00K
% Of Pretax Income
Net Earnings -$2.199M -$11.52M -$10.46M
YoY Change -82.99% 29.38% 11.1%
Net Earnings / Revenue -3.22% -19.27% -19.68%
Basic Earnings Per Share -$0.09 -$0.45 -$0.42
Diluted Earnings Per Share -$0.09 -$0.45 -$418.8K
COMMON SHARES
Basic Shares Outstanding 25.60M 25.43M 24.98M
Diluted Shares Outstanding 25.74M 25.43M 24.98M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $181.9M $163.3M $165.3M
YoY Change 60.44% 45.85% 38.53%
Cash & Equivalents $39.31M $32.58M $63.54M
Short-Term Investments $142.5M $130.7M $101.7M
Other Short-Term Assets $5.507M $3.603M $7.195M
YoY Change 29.94% -1.83% 156.96%
Inventory $31.93M $32.05M $31.56M
Prepaid Expenses
Receivables $40.67M $40.13M $38.53M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $260.0M $239.1M $242.6M
YoY Change 59.42% 44.31% 39.64%
LONG-TERM ASSETS
Property, Plant & Equipment $31.12M $28.73M $40.00M
YoY Change -23.87% -26.92% 15.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $19.20M $20.44M $28.14M
YoY Change
Other Assets $2.223M $2.240M $2.365M
YoY Change -13.6% -12.53% 2.83%
Total Long-Term Assets $67.84M $65.33M $74.39M
YoY Change 43.32% 42.8% 82.32%
TOTAL ASSETS
Total Short-Term Assets $260.0M $239.1M $242.6M
Total Long-Term Assets $67.84M $65.33M $74.39M
Total Assets $327.8M $304.4M $316.9M
YoY Change 55.8% 43.98% 47.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.25M $10.10M $9.103M
YoY Change 57.0% -5.36% 3.44%
Accrued Expenses $17.48M $12.48M $12.44M
YoY Change 25.66% 3.19% 3.63%
Deferred Revenue $2.808M $2.632M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $9.643M
YoY Change -100.0% -100.0% -88.52%
Total Short-Term Liabilities $33.64M $25.33M $32.64M
YoY Change -68.63% -76.48% -70.91%
LONG-TERM LIABILITIES
Long-Term Debt $279.8M $279.4M $279.1M
YoY Change
Other Long-Term Liabilities $113.0K $113.0K $11.54M
YoY Change -99.19% -99.24% -27.45%
Total Long-Term Liabilities $280.0M $279.6M $290.6M
YoY Change 1914.09% 1770.61% 1727.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $33.64M $25.33M $32.64M
Total Long-Term Liabilities $280.0M $279.6M $290.6M
Total Liabilities $325.7M $315.7M $323.2M
YoY Change 168.94% 157.37% 152.29%
SHAREHOLDERS EQUITY
Retained Earnings -$386.7M -$384.5M
YoY Change 12.91%
Common Stock $390.5M $374.4M
YoY Change -9.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.061M -$11.26M -$6.289M
YoY Change
Total Liabilities & Shareholders Equity $327.8M $304.4M $316.9M
YoY Change 55.8% 43.98% 47.76%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$2.199M -$11.52M -$10.46M
YoY Change -82.99% 29.38% 11.1%
Depreciation, Depletion And Amortization $1.483M $1.465M $1.508M
YoY Change 35.43% 41.41% 45.0%
Cash From Operating Activities $14.45M $7.197M -$14.84M
YoY Change 166.35% -263.98% -258.35%
INVESTING ACTIVITIES
Capital Expenditures -$2.251M -$674.0K -$3.050M
YoY Change -64.4% -80.51% -169.35%
Acquisitions
YoY Change
Other Investing Activities -$11.44M -$21.81M -$47.09M
YoY Change -192.28% -356.4% -471.63%
Cash From Investing Activities -$13.69M -$22.48M -$50.14M
YoY Change -325.47% -545.43% -706.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.966M -15.68M 4.611M
YoY Change 136.93% -2274.62% -45.89%
NET CHANGE
Cash From Operating Activities 14.45M 7.197M -14.84M
Cash From Investing Activities -13.69M -22.48M -50.14M
Cash From Financing Activities 5.966M -15.68M 4.611M
Net Change In Cash 6.730M -30.96M -60.36M
YoY Change -51.98% -2345.32% -330.73%
FREE CASH FLOW
Cash From Operating Activities $14.45M $7.197M -$14.84M
Capital Expenditures -$2.251M -$674.0K -$3.050M
Free Cash Flow $16.70M $7.871M -$11.79M
YoY Change 42.17% -945.44% -337.1%

Facts In Submission

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ComprehensiveIncomeNetOfTax
-8905000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-23171000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-18321000
us-gaap Net Income Loss
NetIncomeLoss
-21984000
us-gaap Net Income Loss
NetIncomeLoss
-18322000
us-gaap Depreciation
Depreciation
2973000
us-gaap Depreciation
Depreciation
2076000
us-gaap Share Based Compensation
ShareBasedCompensation
22173000
us-gaap Share Based Compensation
ShareBasedCompensation
18031000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-419000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-468000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
806000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
188000
us-gaap Induced Conversion Of Convertible Debt Expense
InducedConversionOfConvertibleDebtExpense
2232000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4679000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
973000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
10089000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-12265000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1463000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
186000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2201000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
46805000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
2202000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-6553000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7639000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4981000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
115697000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
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us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
41000000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
422000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
366000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
364000
pi Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
-1623000
pi Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
-1458000
pi Increase Decrease In Operating Lease Liabilities Current
IncreaseDecreaseInOperatingLeaseLiabilitiesCurrent
-2034000
pi Increase Decrease In Operating Lease Liabilities Current
IncreaseDecreaseInOperatingLeaseLiabilitiesCurrent
-1834000
us-gaap Increase Decrease In Restructuring Reserve
IncreaseDecreaseInRestructuringReserve
-472000
us-gaap Increase Decrease In Restructuring Reserve
IncreaseDecreaseInRestructuringReserve
630000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3724000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7858000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-72616000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
13317000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2000
pi Proceeds From Exercise Of Stock Options And Employee Stock Purchase Plan
ProceedsFromExerciseOfStockOptionsAndEmployeeStockPurchasePlan
6496000
pi Proceeds From Exercise Of Stock Options And Employee Stock Purchase Plan
ProceedsFromExerciseOfStockOptionsAndEmployeeStockPurchasePlan
9243000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-11068000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9241000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-91323000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
27539000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
123903000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
23636000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
32580000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
51175000
us-gaap Interest Paid Net
InterestPaidNet
1803000
us-gaap Interest Paid Net
InterestPaidNet
863000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
891000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
5069000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-11076000
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4611000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11314000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-10461000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-677000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-6289000
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1885000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10859000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-11523000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-510000
CY2022Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
-5681000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-11259000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
109119000
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
8524000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7449000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-9416000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
86375000
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
719000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10582000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-8906000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
88771000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Preparing financial statements in conformity with GAAP requires us to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and the related disclosures as of the date of the financial statements, as well as the reported amounts of revenue and expenses during the periods presented. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, sales incentives, estimates to complete development contracts, deferred revenue, inventory excess and obsolescence, income taxes, determination of the fair value of stock awards and compensation and employee-related benefits. To the extent there are material differences between these estimates, judgments, or assumptions and actual results, our financial statements will be affected.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2022Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
7987000
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
6305000
CY2022Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
10397000
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
7873000
CY2022Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
13663000
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7780000
CY2022Q2 us-gaap Inventory Net
InventoryNet
32047000
CY2021Q4 us-gaap Inventory Net
InventoryNet
21958000
pi Inventory Excess And Obsolescence Charges Favorable Impact On Gross Margin Percentage
InventoryExcessAndObsolescenceChargesFavorableImpactOnGrossMarginPercentage
0.012
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2288000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
228000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
13000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2047000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1630000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10859000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10582000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22173000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18031000
CY2022Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
46700000
CY2021Q3 pi Number Of Infringement Patents
NumberOfInfringementPatents
1
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
287500000
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
8051000
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
279449000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
297350000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
9056000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
288294000
pi Number Of Business Days In Conversion Condition
NumberOfBusinessDaysInConversionCondition
5
us-gaap Debt Instrument Convertible Threshold Trading Days
DebtInstrumentConvertibleThresholdTradingDays
5
CY2019Q4 pi Premiums Paid For Capped Call Transactions
PremiumsPaidForCappedCallTransactions
10100000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1039000
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1038000
us-gaap Operating Lease Cost
OperatingLeaseCost
2086000
us-gaap Operating Lease Cost
OperatingLeaseCost
2076000
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
566000
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
510000
us-gaap Variable Lease Cost
VariableLeaseCost
1093000
us-gaap Variable Lease Cost
VariableLeaseCost
967000
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
494000
CY2021Q2 us-gaap Sublease Income
SubleaseIncome
475000
us-gaap Sublease Income
SubleaseIncome
988000
us-gaap Sublease Income
SubleaseIncome
950000
CY2022Q2 pi Operating Lease Costs Net Of Sublease Income
OperatingLeaseCostsNetOfSubleaseIncome
1111000
CY2021Q2 pi Operating Lease Costs Net Of Sublease Income
OperatingLeaseCostsNetOfSubleaseIncome
1073000
pi Operating Lease Costs Net Of Sublease Income
OperatingLeaseCostsNetOfSubleaseIncome
2191000
pi Operating Lease Costs Net Of Sublease Income
OperatingLeaseCostsNetOfSubleaseIncome
2093000
us-gaap Operating Lease Payments
OperatingLeasePayments
2528000
us-gaap Operating Lease Payments
OperatingLeasePayments
2445000
pi Operating Lease Liabilities From Remeasurement Of Right Of Use Assets
OperatingLeaseLiabilitiesFromRemeasurementOfRightOfUseAssets
698000
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y1M6D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M24D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.068
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.067
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2544000
CY2022Q2 pi Lessee Operating Lease Sublease Income Remainder Of Fiscal Year
LesseeOperatingLeaseSubleaseIncomeRemainderOfFiscalYear
739000
CY2022Q2 pi Lessee Operating Lease Liability Payments Net Of Sublease Income Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeRemainderOfFiscalYear
1805000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3592000
CY2022Q2 pi Lessee Operating Lease Sublease Income Due Next Twelve Months
LesseeOperatingLeaseSubleaseIncomeDueNextTwelveMonths
123000
CY2022Q2 pi Lessee Operating Lease Liability Payments Net Of Sublease Income Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueNextTwelveMonths
3469000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3283000
CY2022Q2 pi Lessee Operating Lease Liability Payments Net Of Sublease Income Due Year Two
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueYearTwo
3283000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3331000
CY2022Q2 pi Lessee Operating Lease Liability Payments Net Of Sublease Income Due Year Three
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueYearThree
3331000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3414000
CY2022Q2 pi Lessee Operating Lease Liability Payments Net Of Sublease Income Due Year Four
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueYearFour
3414000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
16164000
CY2022Q2 pi Lessee Operating Lease Sublease Income Due
LesseeOperatingLeaseSubleaseIncomeDue
862000
CY2022Q2 pi Lessee Operating Lease Liability Payments Net Of Sublease Income Due
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDue
15302000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2121000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
14043000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3635000
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
10408000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-11523000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-8906000
us-gaap Net Income Loss
NetIncomeLoss
-21984000
us-gaap Net Income Loss
NetIncomeLoss
-18322000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25429000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25429000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24120000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24120000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25204000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25204000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23895000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23895000
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.45
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.45
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.37
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.37
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.87
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.87
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.77
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.77
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
59796000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
47268000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
112940000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
92516000
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
6000000.0
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
270000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
6600000
pi Contract With Customer Liability Revenue Recognition Of Deferred Revenue
ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenue
459000
pi Contract With Customer Liability Revenue Recognition Of Deferred Revenue
ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenue
6872000
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2996000
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
535000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
794000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
7088000
us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
2661000
us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
319000
us-gaap Restructuring And Related Activities Description
RestructuringAndRelatedActivitiesDescription
On February 2, 2021, we restructured our go-to-market organization to strategically align our global sales, product, partner development and marketing teams. As part of the restructuring, we eliminated approximately seven full-time positions within our go-to-market organization, representing about 2% of our workforce. We incurred restructuring charges of $1.7 million for employee termination benefits as well as $50,000 in other associated costs for legal expenses for the year ended December 31, 2021. We substantially completed our restructuring by June 30, 2021
CY2021Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
7
CY2021Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.02
CY2021Q1 us-gaap Restructuring And Related Activities Completion Date
RestructuringAndRelatedActivitiesCompletionDate
2021-06-30
CY2021 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
1721000
CY2021 pi Restructuring Cash Payments
RestructuringCashPayments
-1130000
pi Restructuring Cash Payments
RestructuringCashPayments
-472000
CY2022Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
119000

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