$SBIG
springbig Holdings Inc

2023 Q2 Form 10-Q Financial Statement

#000180160223000036 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $7.214M $7.157M $6.364M
YoY Change 9.57% 12.46%
Cost Of Revenue $1.511M $1.350M $1.843M
YoY Change -24.37% -26.75% 15.91%
Gross Profit $5.703M $5.807M $4.521M
YoY Change 24.36% 28.45% 24.89%
Gross Profit Margin 79.05% 81.14% 71.04%
Selling, General & Admin $5.431M $5.235M $4.570M
YoY Change -21.05% 14.55% 43.71%
% of Gross Profit 95.23% 90.15% 101.08%
Research & Development $2.045M $2.300M $2.637M
YoY Change -29.73% -12.78% 70.13%
% of Gross Profit 35.86% 39.61% 58.33%
Depreciation & Amortization $64.00K $66.00K $75.00K
YoY Change -47.97% -12.0% 650.0%
% of Gross Profit 1.12% 1.14% 1.66%
Operating Expenses $7.476M $7.535M $911.8K
YoY Change -24.25% 726.36% 854.02%
Operating Profit -$1.773M -$1.728M -$911.8K
YoY Change -66.44% 89.51% 854.02%
Interest Expense -$320.0K -$381.0K -$93.00K
YoY Change 53.85% 309.68% -1706.22%
% of Operating Profit
Other Income/Expense, Net $60.00K -$153.0K $4.164M
YoY Change -97.92% -103.67% -311.65%
Pretax Income -$2.030M -$2.262M -$2.865M
YoY Change -22.25% -21.05% 38.86%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.028M -$2.262M $3.253M
YoY Change -22.33% -169.55% -257.65%
Net Earnings / Revenue -28.11% -31.61% 51.11%
Basic Earnings Per Share -$0.06 -$0.08 -$0.21
Diluted Earnings Per Share -$0.06 -$0.08 -$151.3K
COMMON SHARES
Basic Shares Outstanding 26.94M shares 26.94M shares 13.57M shares
Diluted Shares Outstanding 31.49M shares 26.80M shares 13.57M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $730.0K $2.569M $416.6K
YoY Change -94.85% 516.67% -48.82%
Cash & Equivalents $700.0K $2.600M $6.761M
Short-Term Investments
Other Short-Term Assets $1.570M $1.026M $249.7K
YoY Change -42.74% 310.91% -49.6%
Inventory
Prepaid Expenses
Receivables $4.002M $3.168M $2.950M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.613M $7.086M $666.3K
YoY Change -68.27% 963.52% -49.12%
LONG-TERM ASSETS
Property, Plant & Equipment $328.0K $318.0K $500.0K
YoY Change -30.36% -36.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.0M
YoY Change
Total Long-Term Assets $1.223M $1.207M $200.0M
YoY Change 69.63% -99.4% 0.02%
TOTAL ASSETS
Total Short-Term Assets $6.613M $7.086M $666.3K
Total Long-Term Assets $1.223M $1.207M $200.0M
Total Assets $7.836M $8.293M $200.7M
YoY Change -63.66% -95.87% -0.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.467M $1.820M $2.252M
YoY Change -30.15% -19.19% 5023.09%
Accrued Expenses $2.520M $2.868M $108.0K
YoY Change 25.94% 2555.56% 0.0%
Deferred Revenue $215.0K $263.0K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.756M $5.654M
YoY Change
Total Short-Term Liabilities $7.959M $11.77M $2.360M
YoY Change 14.07% 398.71% 1453.07%
LONG-TERM LIABILITIES
Long-Term Debt $2.830M $1.414M $0.00
YoY Change -71.25%
Other Long-Term Liabilities $690.0K $724.0K $12.28M
YoY Change -57.3% -94.1% -56.34%
Total Long-Term Liabilities $3.520M $2.138M $12.28M
YoY Change -69.28% -82.59% -56.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.959M $11.77M $2.360M
Total Long-Term Liabilities $3.520M $2.138M $12.28M
Total Liabilities $11.48M $13.91M $14.64M
YoY Change -37.74% -4.99% -48.22%
SHAREHOLDERS EQUITY
Retained Earnings -$30.60M -$28.60M
YoY Change
Common Stock $4.000K $3.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.643M -$5.615M -$13.93M
YoY Change
Total Liabilities & Shareholders Equity $7.836M $8.293M $200.7M
YoY Change -63.66% -95.87% -0.3%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$2.028M -$2.262M $3.253M
YoY Change -22.33% -169.55% -257.65%
Depreciation, Depletion And Amortization $64.00K $66.00K $75.00K
YoY Change -47.97% -12.0% 650.0%
Cash From Operating Activities -$2.940M $400.0K -$204.9K
YoY Change -38.07% -295.24% -62.55%
INVESTING ACTIVITIES
Capital Expenditures $70.00K $9.000K $73.00K
YoY Change -161.95% -87.67% 82.5%
Acquisitions
YoY Change
Other Investing Activities -$10.00K -$3.000K $0.00
YoY Change -96.0% -100.0%
Cash From Investing Activities -$80.00K -$12.00K $0.00
YoY Change -77.96% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.170M -$1.344M 0.000
YoY Change -93.22% -100.0%
NET CHANGE
Cash From Operating Activities -2.940M $400.0K -204.9K
Cash From Investing Activities -80.00K -$12.00K 0.000
Cash From Financing Activities 1.170M -$1.344M 0.000
Net Change In Cash -1.850M -$956.0K -204.9K
YoY Change -115.22% 366.61% -132.61%
FREE CASH FLOW
Cash From Operating Activities -$2.940M $400.0K -$204.9K
Capital Expenditures $70.00K $9.000K $73.00K
Free Cash Flow -$3.010M $391.0K -$277.9K
YoY Change -35.05% -240.71% -52.66%

Facts In Submission

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379000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2399000 usd
CY2023Q1 wdq Origination Of Notes Receivable
OriginationOfNotesReceivable
3000 usd
CY2022Q1 wdq Origination Of Notes Receivable
OriginationOfNotesReceivable
0 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
73000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-12000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-73000 usd
CY2023Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 usd
CY2022Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
7000000 usd
CY2023Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
1457000 usd
CY2022Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0 usd
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
113000 usd
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1344000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7006000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-977000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
4534000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3546000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2227000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2569000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6761000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
132000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2023Q1 wdq Number Of Subsidiaries
NumberOfSubsidiaries
1 subsidiary
CY2022Q2 wdq Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
0.59289
CY2022Q2 wdq Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
18800000 usd
CY2022Q2 wdq Proceeds From Reverse Recapitalization Transaction Before Closing Costs
ProceedsFromReverseRecapitalizationTransactionBeforeClosingCosts
25100000 usd
CY2022Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
7000000 usd
CY2022Q2 wdq Cash Acquired Through Reverse Recapitalization After Payment To Redeeming Stockholders
CashAcquiredThroughReverseRecapitalizationAfterPaymentToRedeemingStockholders
8800000 usd
CY2022Q2 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
6100000 usd
CY2022Q2 wdq Reverse Recapitalization Accrued Transaction Costs
ReverseRecapitalizationAccruedTransactionCosts
8700000 usd
CY2022Q2 wdq Reverse Recapitalization Net
ReverseRecapitalizationNet
10100000 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-28600000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
400000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2400000 usd
CY2023Q1 wdq Working Capital
WorkingCapital
-4700000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2600000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%;text-decoration:underline">Use of Estimates</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. We base our estimates on historical experience and various other </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:112%">assumptions that we believe to be reasonable. We believe that the assumptions and estimates associated with revenue recognition, software development costs, income taxes, and equity-based compensation have the greatest potential impact on our consolidated financial statements. Therefore, we consider these to be our critical accounting policies and estimates. </span></div><div style="text-align:justify;text-indent:18pt"><span><br/></span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Future events and their effects cannot be predicted with certainty; accordingly, accounting estimates require the exercise of judgment. Accounting estimates used in the preparation of these financial statements change as new events occur, as more experience is acquired, as additional information is obtained, and as the operating environment changes. Actual results may differ materially from these estimates.</span></div>
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%;text-decoration:underline">Concentrations of Credit Risk</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%"> </span></div><div style="text-align:justify;text-indent:18pt"><span><br/></span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Financial instruments that potentially subject us to concentration of credit risk consist principally of cash and cash equivalents and accounts receivable. We place our cash and cash equivalents with high credit-quality financial institutions. Such deposits may be in excess of federally insured limits. To date, we have not experienced any losses on our cash and cash equivalents. We perform periodic evaluations of the relative credit standing of the financial institutions. </span></div><div style="text-align:justify;text-indent:18pt"><span><br/></span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We perform ongoing credit evaluations of our customers’ financial condition and require no collateral from our customers. We maintain an allowance for doubtful accounts receivable based upon the expected collectability of accounts receivable balances. See </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Effective Accounting Pronouncements</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> within this Note below for further information.</span></div>
CY2023Q1 us-gaap Billed Contract Receivables
BilledContractReceivables
4048000 usd
CY2023Q1 us-gaap Cash Uninsured Amount
CashUninsuredAmount
2100000 usd
CY2022Q4 us-gaap Billed Contract Receivables
BilledContractReceivables
3639000 usd
CY2023Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
743000 usd
CY2022Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
731000 usd
CY2023Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
4791000 usd
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
4370000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1623000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1481000 usd
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3168000 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2889000 usd
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
169000 usd
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
33000 usd
CY2023Q1 us-gaap Prepaid Insurance
PrepaidInsurance
374000 usd
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
834000 usd
CY2023Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
564000 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
582000 usd
CY2023Q1 us-gaap Deposits Assets Current
DepositsAssetsCurrent
88000 usd
CY2022Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
89000 usd
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1026000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1505000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
840000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
831000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
522000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
456000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
318000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
375000 usd
CY2023Q1 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P3Y
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
66000 usd
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
59000 usd
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss Noncurrent
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossNoncurrent
250000 usd
CY2022Q2 wdq Financing Receivable Before Allowance For Credit Loss Noncurrent Interest Rate
FinancingReceivableBeforeAllowanceForCreditLossNoncurrentInterestRate
0.05
CY2023Q1 us-gaap Interest Income Financing Receivable Before Allowance For Credit Loss
InterestIncomeFinancingReceivableBeforeAllowanceForCreditLoss
3000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
570000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1145000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
434000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
148000 usd
CY2023Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
1000000 usd
CY2022Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
1006000 usd
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
165000 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
255000 usd
CY2023Q1 wdq Accrued Expense And Other Liabilities Current
AccruedExpenseAndOtherLiabilitiesCurrent
2169000 usd
CY2022Q4 wdq Accrued Expense And Other Liabilities Current
AccruedExpenseAndOtherLiabilitiesCurrent
2554000 usd
CY2022Q2 wdq Reverse Recapitalization Cash Paid To Shareholders
ReverseRecapitalizationCashPaidToShareholders
191437817 usd
CY2022Q2 wdq Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
18800000 usd
CY2022Q2 wdq Proceeds From Reverse Recapitalization Transaction Before Closing Costs
ProceedsFromReverseRecapitalizationTransactionBeforeClosingCosts
25100000 usd
CY2022Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
7000000 usd
CY2022Q2 wdq Cash Acquired Through Reverse Recapitalization After Payment To Redeeming Stockholders
CashAcquiredThroughReverseRecapitalizationAfterPaymentToRedeemingStockholders
8800000 usd
CY2022Q2 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
6100000 usd
CY2022Q2 wdq Cash Acquired Through Reverse Recapitalization After Payment To Redeeming Stockholders
CashAcquiredThroughReverseRecapitalizationAfterPaymentToRedeemingStockholders
8771000 usd
CY2022Q2 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
6100000 usd
CY2022Q2 wdq Proceeds From Reverse Recapitalization Operating Account
ProceedsFromReverseRecapitalizationOperatingAccount
264000 usd
CY2022Q2 wdq Proceeds From Reverse Recapitalization Transaction Before Closing Costs
ProceedsFromReverseRecapitalizationTransactionBeforeClosingCosts
25135000 usd
CY2022Q2 wdq Payments Of Reverse Recapitalization Transaction Costs
PaymentsOfReverseRecapitalizationTransactionCosts
6346000 usd
CY2022Q2 wdq Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
18789000 usd
CY2022Q2 wdq Reverse Recapitalization Accrued Transaction Costs
ReverseRecapitalizationAccruedTransactionCosts
8679000 usd
CY2022Q2 wdq Reverse Recapitalization Net
ReverseRecapitalizationNet
10110000 usd
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
25290270 shares
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
25290270 shares
CY2023Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
391000 usd
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-153000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6173000 usd
CY2022Q1 us-gaap Cost Of Revenue
CostOfRevenue
1652000 usd
CY2022Q1 us-gaap Gross Profit
GrossProfit
4521000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7157000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6173000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7157000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6173000 usd
CY2023Q1 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
323000 usd
CY2022Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
333000 usd
CY2022Q4 wdq Contract With Customer Assets Current
ContractWithCustomerAssetsCurrent
333000 usd
CY2021Q4 wdq Contract With Customer Assets Current
ContractWithCustomerAssetsCurrent
364000 usd
CY2023Q1 wdq Contract With Customer Assets Expense Deferred Including Opening Balance
ContractWithCustomerAssetsExpenseDeferredIncludingOpeningBalance
48000 usd
CY2022 wdq Contract With Customer Assets Expense Deferred Including Opening Balance
ContractWithCustomerAssetsExpenseDeferredIncludingOpeningBalance
176000 usd
CY2023Q1 wdq Contract With Customer Assets Amounts Expensed During The Year
ContractWithCustomerAssetsAmountsExpensedDuringTheYear
-58000 usd
CY2022 wdq Contract With Customer Assets Amounts Expensed During The Year
ContractWithCustomerAssetsAmountsExpensedDuringTheYear
-207000 usd
CY2023Q1 wdq Contract With Customer Assets Current
ContractWithCustomerAssetsCurrent
323000 usd
CY2022Q4 wdq Contract With Customer Assets Current
ContractWithCustomerAssetsCurrent
333000 usd
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
263000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
291000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
291000 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
450000 usd
CY2023Q1 wdq Contract With Customer Liability Amounts Invoiced During The Year
ContractWithCustomerLiabilityAmountsInvoicedDuringTheYear
5027000 usd
CY2022 wdq Contract With Customer Liability Amounts Invoiced During The Year
ContractWithCustomerLiabilityAmountsInvoicedDuringTheYear
18310000 usd
CY2023Q1 wdq Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
5055000 usd
CY2022 wdq Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
18469000 usd
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
263000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
291000 usd
CY2023Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
1525175 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
0.05
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.59
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2945020 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y11M19D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.56
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3394753 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.57
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3250236 shares
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y9M14D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.54
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
281130 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.41
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
8893 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2023Q1 wdq Share Based Compensation Arrangements By Share Based Payment Award Options Cancelled In Period
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsCancelledInPeriod
0 shares
CY2023Q1 wdq Share Based Compensation Arrangements By Share Based Payment Award Options Cancelled In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsCancelledInPeriodWeightedAverageExercisePrice
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3104730 shares
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
316000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
655000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2945020 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
779000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
152000 usd
CY2023Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P98M
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
627000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
750000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
422000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
465000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
233000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
30000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
781000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
133000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
89000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
133000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
126000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P17Y10M24D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0567
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
363000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
322000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
685000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
655000 usd
CY2023Q1 wdq Proceeds From Social Security Tax Employer Deferral Cares Act
ProceedsFromSocialSecurityTaxEmployerDeferralCARESAct
2000000 usd
CY2023Q1 wdq Operating Expenses Offset Social Security Tax Employer Deferral Cares Act
OperatingExpensesOffsetSocialSecurityTaxEmployerDeferralCARESAct
600000 usd
CY2023Q1 wdq Social Security Tax Employer Deferral Cares Act
SocialSecurityTaxEmployerDeferralCARESAct
1400000 usd
CY2023Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
491000 usd
CY2022Q2 wdq Preferred Stock Convertible Conversion Trigger Amount Of Initial Public Offering
PreferredStockConvertibleConversionTriggerAmountOfInitialPublicOffering
50000000 usd
CY2022Q2 wdq Preferred Stock Convertible Conversion Trigger Percent Of Total Votes
PreferredStockConvertibleConversionTriggerPercentOfTotalVotes
0.63
CY2022Q2 us-gaap Preferred Stock Convertible Conversion Ratio
PreferredStockConvertibleConversionRatio
1
CY2022Q2 wdq Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
0.59289
CY2022Q2 wdq Sponsor Escrow Agreement Sponsor Earnout Shares
SponsorEscrowAgreementSponsorEarnoutShares
1000000 shares
CY2022Q2 wdq Sponsor Escrow Agreement Release Of Shares Stock Price Trigger
SponsorEscrowAgreementReleaseOfSharesStockPriceTrigger
12.00
CY2022Q2 wdq Sponsor Escrow Agreement Stock Price Trigger Threshold Trading Days
SponsorEscrowAgreementStockPriceTriggerThresholdTradingDays
20 day
CY2022Q2 wdq Sponsor Escrow Agreement Stock Price Trigger Threshold Trading Day Period
SponsorEscrowAgreementStockPriceTriggerThresholdTradingDayPeriod
30 day
CY2022Q2 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
350000000 shares
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
26940841 shares
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
26940841 shares
CY2022Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
17884588 shares
CY2022Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
17884588 shares
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-2262000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-2866000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26803839 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26803839 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13571872 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13571872 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.21
CY2023Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
158000 usd
CY2022Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
69000 usd

Files In Submission

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wdq-20230331_lab.xml Edgar Link unprocessable
wdq-20230331_cal.xml Edgar Link unprocessable
0001801602-23-000036-index-headers.html Edgar Link pending
0001801602-23-000036-index.html Edgar Link pending
0001801602-23-000036.txt Edgar Link pending
0001801602-23-000036-xbrl.zip Edgar Link pending
exhibit311-ceo302certifica.htm Edgar Link pending
exhibit312-cfo302certifica.htm Edgar Link pending
exhibit321ceo906certificat.htm Edgar Link pending
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wdq-20230331.xsd Edgar Link pending
wdq-20230331_def.xml Edgar Link unprocessable
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wdq-20230331_htm.xml Edgar Link completed