2024 Q3 Form 10-Q Financial Statement

#000181981024000092 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $68.64M $78.11M
YoY Change 9.62% 29.97%
Cost Of Revenue $56.62M $65.13M
YoY Change 24.44% 47.37%
Gross Profit $12.02M $12.98M
YoY Change -29.76% -18.36%
Gross Profit Margin 17.52% 16.62%
Selling, General & Admin $17.52M $18.09M
YoY Change -4.27% 2.27%
% of Gross Profit 145.73% 139.31%
Research & Development $1.893M $1.748M
YoY Change 23.56% -15.56%
% of Gross Profit 15.74% 13.46%
Depreciation & Amortization $2.860M $2.925M
YoY Change -1.04% 12.07%
% of Gross Profit 23.79% 22.53%
Operating Expenses $19.41M $19.84M
YoY Change -2.12% 0.4%
Operating Profit -$12.51M -$7.130M
YoY Change 360.51% 84.91%
Interest Expense -$3.610M -$3.009M
YoY Change 37.31% 12.95%
% of Operating Profit
Other Income/Expense, Net -$5.309M -$7.933M
YoY Change 330.93% -917.84%
Pretax Income -$21.43M -$18.07M
YoY Change 225.8% 225.62%
Income Tax -$472.0K $15.00K
% Of Pretax Income
Net Earnings -$20.96M -$18.09M
YoY Change 235.18% 231.11%
Net Earnings / Revenue -30.54% -23.16%
Basic Earnings Per Share -$0.37 -$0.42
Diluted Earnings Per Share -$0.37 -$0.42
COMMON SHARES
Basic Shares Outstanding 66.54M shares 65.58M shares
Diluted Shares Outstanding 66.53M shares 65.70M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.09M $30.83M
YoY Change 295.36% 175.29%
Cash & Equivalents $27.80M $30.83M
Short-Term Investments
Other Short-Term Assets $12.03M $7.028M
YoY Change 76.9% -2.39%
Inventory $2.055M $1.825M
Prepaid Expenses
Receivables $22.65M $22.08M
Other Receivables $636.0K $636.0K
Total Short-Term Assets $126.5M $105.3M
YoY Change 49.89% 18.11%
LONG-TERM ASSETS
Property, Plant & Equipment $27.60M $27.38M
YoY Change 88.62% 97.38%
Goodwill $72.57M $65.22M
YoY Change 12.67% 0.34%
Intangibles $62.52M $61.76M
YoY Change -0.72% -4.12%
Long-Term Investments $0.00 $0.00
YoY Change -100.0% -100.0%
Other Assets $724.0K $604.0K
YoY Change 42.24% 5.96%
Total Long-Term Assets $163.4M $155.0M
YoY Change 2.26% -4.48%
TOTAL ASSETS
Total Short-Term Assets $126.5M $105.3M
Total Long-Term Assets $163.4M $155.0M
Total Assets $289.9M $260.3M
YoY Change 18.72% 3.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.94M $27.80M
YoY Change 40.54% 64.57%
Accrued Expenses $27.81M $28.62M
YoY Change -26.18% -16.57%
Deferred Revenue $56.68M $44.08M
YoY Change 109.48% 30.0%
Short-Term Debt $11.00K $0.00
YoY Change
Long-Term Debt Due $1.751M $780.0K
YoY Change -11.39% 0.0%
Total Short-Term Liabilities $131.0M $107.3M
YoY Change 50.17% 15.1%
LONG-TERM LIABILITIES
Long-Term Debt $121.6M $94.65M
YoY Change 52.05% 26.12%
Other Long-Term Liabilities $401.0K $378.0K
YoY Change 12.96% 0.8%
Total Long-Term Liabilities $122.0M $95.02M
YoY Change 51.88% 25.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $131.0M $107.3M
Total Long-Term Liabilities $122.0M $95.02M
Total Liabilities $277.7M $229.8M
YoY Change 48.06% 21.09%
SHAREHOLDERS EQUITY
Retained Earnings -$280.9M -$260.0M
YoY Change 24.58% 18.58%
Common Stock $7.000K $7.000K
YoY Change 16.67% 16.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$96.42M -$78.27M
YoY Change
Total Liabilities & Shareholders Equity $289.9M $260.3M
YoY Change 18.72% 3.53%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$20.96M -$18.09M
YoY Change 235.18% 231.11%
Depreciation, Depletion And Amortization $2.860M $2.925M
YoY Change -1.04% 12.07%
Cash From Operating Activities -$17.67M -$9.506M
YoY Change 442.02% -433.54%
INVESTING ACTIVITIES
Capital Expenditures $2.798M $1.687M
YoY Change 5.19% -3.6%
Acquisitions
YoY Change
Other Investing Activities -$796.0K $4.598M
YoY Change
Cash From Investing Activities -$3.594M $2.911M
YoY Change 35.11% -266.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 33.35M 4.897M
YoY Change 482.04% -508.08%
NET CHANGE
Cash From Operating Activities -17.67M -9.506M
Cash From Investing Activities -3.594M 2.911M
Cash From Financing Activities 33.35M 4.897M
Net Change In Cash 12.09M -1.698M
YoY Change -6461.58% 1598.0%
FREE CASH FLOW
Cash From Operating Activities -$17.67M -$9.506M
Capital Expenditures $2.798M $1.687M
Free Cash Flow -$20.47M -$11.19M
YoY Change 245.74% -1117.55%

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rdw Dividends Temporary Equity Paid In Kind
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9030000 usd
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
556000 usd
us-gaap Profit Loss
ProfitLoss
-12723000 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-23806000 usd
us-gaap Profit Loss
ProfitLoss
-26183000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5678000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5084000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
349000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
173000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4453000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3866000 usd
rdw Gain Loss On Sale Of Joint Venture
GainLossOnSaleOfJointVenture
1303000 usd
rdw Gain Loss On Sale Of Joint Venture
GainLossOnSaleOfJointVenture
0 usd
rdw Fair Value Adjustments Of Committed Equity Facility
FairValueAdjustmentsOfCommittedEquityFacility
0 usd
rdw Fair Value Adjustments Of Committed Equity Facility
FairValueAdjustmentsOfCommittedEquityFacility
66000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
10052000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
2011000 usd
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
112000 usd
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-333000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
22000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
103000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
0 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
525000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-690000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
128000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-9987000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1376000 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
6449000 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
11898000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
314000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-188000 usd
us-gaap Increase Decrease In Prepaid Insurance
IncreaseDecreaseInPrepaidInsurance
-505000 usd
us-gaap Increase Decrease In Prepaid Insurance
IncreaseDecreaseInPrepaidInsurance
-1604000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
231000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
592000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4838000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-3262000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-8497000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
4025000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-169000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-160000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-282000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-440000 usd
rdw Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability
0 usd
rdw Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability
-557000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6742000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-11204000 usd
us-gaap Proceeds From Divestiture Of Interest In Joint Venture
ProceedsFromDivestitureOfInterestInJointVenture
4598000 usd
us-gaap Proceeds From Divestiture Of Interest In Joint Venture
ProceedsFromDivestitureOfInterestInJointVenture
0 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2475000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2223000 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1579000 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
325000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
544000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2548000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
15000000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
11500000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
7988000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
13695000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
322000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
rdw Repayment Of Financed Leases
RepaymentOfFinancedLeases
235000 usd
rdw Repayment Of Financed Leases
RepaymentOfFinancedLeases
175000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
530000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
rdw Payments Of Committed Equity Facility Transaction Costs
PaymentsOfCommittedEquityFacilityTransactionCosts
0 usd
rdw Payments Of Committed Equity Facility Transaction Costs
PaymentsOfCommittedEquityFacilityTransactionCosts
571000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
52000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
56000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 usd
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
0 usd
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
443000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6929000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3436000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-177000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
103000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
554000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-17085000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30278000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28316000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30832000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11231000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><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 U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management has prepared the estimates using the most current and best available information that are considered reasonable under the circumstances. However, actual results could differ materially from those estimates. Accounting policies subject to estimates include, but are not limited to, valuation of goodwill and intangible assets, revenue recognition, income taxes, certain equity-based compensation awards, post-retirement benefit plans, paid-in-kind dividends, and warrant liabilities.</span></div>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
us-gaap Interest Paid Net
InterestPaidNet
5462000 usd
us-gaap Interest Paid Net
InterestPaidNet
4137000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
216000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
rdw Dividends Temporary Equity Paid In Kind
DividendsTemporaryEquityPaidInKind
12590000 usd
rdw Dividends Temporary Equity Paid In Kind
DividendsTemporaryEquityPaidInKind
9030000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2069000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1821000 usd
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
3325000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
10052000 usd
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
13377000 usd
CY2024Q2 us-gaap Billed Contract Receivables
BilledContractReceivables
21975000 usd
CY2023Q4 us-gaap Billed Contract Receivables
BilledContractReceivables
28926000 usd
CY2024Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
108000 usd
CY2023Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
3485000 usd
CY2024Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
22083000 usd
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
32411000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2024Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1634000 usd
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1452000 usd
CY2024Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
191000 usd
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
64000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
1825000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
1516000 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
96488000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
89477000 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
1062000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
1257000 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
95426000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
88220000 usd
CY2024Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
780000 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1378000 usd
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
94646000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
86842000 usd
CY2024Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
127000 usd
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
107000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
258000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
192000 usd
CY2024Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
31000 usd
CY2023Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
24000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
62000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
44000 usd
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1062000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1038000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
2120000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1993000 usd
CY2024Q2 us-gaap Variable Lease Cost
VariableLeaseCost
19000 usd
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
11000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
22000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
11000 usd
CY2024Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
80000 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
9000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
169000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
90000 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
1319000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
1189000 usd
us-gaap Lease Cost
LeaseCost
2631000 usd
us-gaap Lease Cost
LeaseCost
2330000 usd
CY2024Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1142000 usd
CY2024Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
147000 usd
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1087000 usd
CY2023Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
118000 usd
CY2024Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2024Q2 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
58000 usd
CY2023Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2757000 usd
CY2023Q2 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
151000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
2281000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
297000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
2060000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
218000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
35000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
226000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3334000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
451000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2024Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M12D
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.066
CY2024Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.082
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.064
CY2023Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.088
rdw Number Of Leases Not Yet Commenced
NumberOfLeasesNotYetCommenced
2 usd
CY2024Q2 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
7300000 usd
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.001
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.015
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.005
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.009
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.001
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.015
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.005
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.009
CY2022Q2 rdw Loss Contingency Days Following Issuance Of Decision
LossContingencyDaysFollowingIssuanceOfDecision
15 day
CY2022Q2 rdw Loss Contingency Days Following Party Notice Of Another Pending Action
LossContingencyDaysFollowingPartyNoticeOfAnotherPendingAction
20 day
CY2023Q4 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
30000 sqft
CY2023Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
93890.2 shares
CY2023Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
96106000 usd
rdw Temporary Equity Dividend Paid In Kind Shares
TemporaryEquityDividendPaidInKindShares
7022.45 shares
rdw Dividends Temporary Equity Paid In Kind
DividendsTemporaryEquityPaidInKind
12590000 usd
CY2024Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
100912.65 shares
CY2024Q2 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
108696000 usd
CY2022Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
81250 shares
CY2024Q2 rdw Dividends Temporary Equity Paid In Kind
DividendsTemporaryEquityPaidInKind
12600000 usd
CY2024Q2 rdw Temporary Equity Paid In Kind Calculation Period
TemporaryEquityPaidInKindCalculationPeriod
P2Y6M
CY2024Q2 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
1793
CY2022Q4 us-gaap Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
3.05
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
63852690 shares
CY2024Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
100912.65 shares
CY2024Q2 us-gaap Preferred Stock Convertible Shares Issuable
PreferredStockConvertibleSharesIssuable
33804950 shares
us-gaap Temporary Equity Accretion Of Dividends
TemporaryEquityAccretionOfDividends
2200000 usd
rdw Temporary Equity Liquidation Preference Per Share Related Feature
TemporaryEquityLiquidationPreferencePerShareRelatedFeature
1000
CY2024Q2 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
242400000 usd
CY2023Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
187800000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
78111000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
60098000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
165903000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
117703000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
78111000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
60098000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
165903000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
117703000 usd
CY2024Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
42909000 usd
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
36961000 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
44076000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
52645000 usd
rdw Contract With Customer Liability Revenue Recognized1
ContractWithCustomerLiabilityRevenueRecognized1
46000000.0 usd
rdw Contract With Customer Liability Revenue Recognized1
ContractWithCustomerLiabilityRevenueRecognized1
26400000 usd
CY2024Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
335400000 usd
CY2024Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.74
CY2024Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2024Q2 rdw Defined Benefit Plan Number Of Plans
DefinedBenefitPlanNumberOfPlans
3 plan
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2102591 shares
CY2023Q4 rdw Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageGrantDateFairValue
2.69
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.20
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y5M1D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
43118 shares
rdw Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedInPeriodWeightedAverageGrantDateFairValue
1.01
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.13
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
53234 shares
rdw Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageGrantDateFairValue
0.25
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
9.99
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
61498 shares
rdw Share Based Compensation Arrangement By Share Based Payment Award Options Forfeited In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue
2.44
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
6.05
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1944741 shares
CY2024Q2 rdw Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageGrantDateFairValue
2.62
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.25
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y11M23D
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
700000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
1088967 shares
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1918000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1908000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4453000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3866000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-18092000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-5464000 usd
us-gaap Net Income Loss
NetIncomeLoss
-26187000 usd
us-gaap Net Income Loss
NetIncomeLoss
-12722000 usd
CY2024Q2 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
9699000 usd
CY2023Q2 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
4800000 usd
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
12742000 usd
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
9166000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-27791000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-10264000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-38929000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-21888000 usd
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65701704 shares
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65701704 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64345698 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64345698 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65636995 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65636995 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64313344 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64313344 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.42
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.42
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.59
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.59
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.34
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
rdw Number Of Companies Under Joint Venture
NumberOfCompaniesUnderJointVenture
2 company
rdw Equity Method Investment And Variable Interest Entity Authorized Share Capital
EquityMethodInvestmentAndVariableInterestEntityAuthorizedShareCapital
250000 eur
CY2024Q2 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
200000 usd
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
1200000 usd
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
3600000 usd

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