$SERV
Serve Robotics Inc. /DE/

2024 Q3 Form 10-Q Financial Statement

#000183248324000016 Filed on August 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q4
Revenue $221.6K $468.4K $42.72K
YoY Change 254.12%
Cost Of Revenue $377.3K $326.0K $399.1K
YoY Change -34.1% -57.03%
Gross Profit -$155.7K $142.4K -$356.4K
YoY Change -69.46% -121.69%
Gross Profit Margin -70.3% 30.39% -834.22%
Selling, General & Admin $2.364M $2.039M $2.509M
YoY Change 52.82% -41.14%
% of Gross Profit 1432.22%
Research & Development $5.008M $5.788M $2.712M
YoY Change 69.03% 37.52%
% of Gross Profit 4065.63%
Depreciation & Amortization $9.060K $9.577K $467.0K
YoY Change -98.05% -98.97%
% of Gross Profit 6.73%
Operating Expenses $8.289M $8.698M $4.996M
YoY Change 63.57% 13.37%
Operating Profit -$8.445M -$8.556M -$5.352M
YoY Change 51.41% 47860.58%
Interest Expense $448.9K -$260.1K -$242.4K
YoY Change -69.74% -85.35%
% of Operating Profit
Other Income/Expense, Net $448.9K -$481.7K $0.00
YoY Change -121.7% -44.29%
Pretax Income -$7.996M -$9.037M -$7.063M
YoY Change 4.58% -10.56%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$8.000M -$9.037M -$7.063M
YoY Change 4.63% 50560.73%
Net Earnings / Revenue -3610.84% -1929.52% -16534.15%
Basic Earnings Per Share -$0.20 -$0.27
Diluted Earnings Per Share -$0.20 -$0.27 -$0.19
COMMON SHARES
Basic Shares Outstanding 39.60M shares 37.08M shares 24.83M shares
Diluted Shares Outstanding 40.59M shares 33.80M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.91M $28.78M $6.760K
YoY Change 1353.77% 152094.76%
Cash & Equivalents $50.91M $28.78M $6.756K
Short-Term Investments
Other Short-Term Assets $3.453M $1.120M $677.0K
YoY Change 360.3% 168.13%
Inventory $327.4K $709.3K $774.3K
Prepaid Expenses $3.453M $1.120M $677.0K
Receivables $13.10K $93.13K $2.955K
Other Receivables $180.0K $180.0K $0.00
Total Short-Term Assets $54.89M $30.88M $1.461M
YoY Change 970.97% 334270.4% 319600.0%
LONG-TERM ASSETS
Property, Plant & Equipment $5.406M $819.2K $48.42K
YoY Change 172.77% -76.24% -98.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $512.7K $512.7K $512.7K
YoY Change 0.0% 0.0%
Total Long-Term Assets $6.579M $1.884M $1.344M
YoY Change 94.15%
TOTAL ASSETS
Total Short-Term Assets $54.89M $30.88M $1.461M
Total Long-Term Assets $6.579M $1.884M $1.344M
Total Assets $61.47M $32.77M $2.805M
YoY Change 621.96% 354669.34% 613586.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.607M $1.388M $2.051M
YoY Change 281.87% 12990.18% 20406.05%
Accrued Expenses $55.44K $46.08K $255.8K
YoY Change -65.27% -92.57% 583.47%
Deferred Revenue $14.10K $52.86K $0.00
YoY Change
Short-Term Debt $0.00 $0.00 $70.00K
YoY Change -100.0% -100.0%
Long-Term Debt Due $1.042M $2.367M $3.364M
YoY Change -66.19% -27.63%
Total Short-Term Liabilities $5.155M $4.268M $6.237M
YoY Change 6.14% 2532.65% 4930.02%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $230.9K
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $135.2K $35.23K $369.8K
YoY Change -71.51% -99.8%
Total Long-Term Liabilities $135.2K $35.23K $600.7K
YoY Change -89.51% -99.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.155M $4.268M $6.237M
Total Long-Term Liabilities $135.2K $35.23K $600.7K
Total Liabilities $5.290M $4.303M $6.838M
YoY Change -13.91% 2554.38% 5414.48%
SHAREHOLDERS EQUITY
Retained Earnings -$94.41M -$86.41M -$68.33M
YoY Change 54.08% 56242.9% 54989.27%
Common Stock $4.283K $3.651K $2.450K
YoY Change 75.82% 630.2% 390.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $56.18M $28.46M -$4.033M
YoY Change
Total Liabilities & Shareholders Equity $61.47M $32.77M $2.805M
YoY Change 621.96% 354669.34% 613586.87%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income -$8.000M -$9.037M -$7.063M
YoY Change 4.63% 50560.73%
Depreciation, Depletion And Amortization $9.060K $9.577K $467.0K
YoY Change -98.05% -98.97%
Cash From Operating Activities -$5.459M -$5.742M -$3.677M
YoY Change -4.3% -12.87%
INVESTING ACTIVITIES
Capital Expenditures $4.596M $795.0K $2.420K
YoY Change 184481.53%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$4.596M -$795.0K -$2.420K
YoY Change 184481.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 32.19M 34.89M 183.6K
YoY Change 250.25% 796.12%
NET CHANGE
Cash From Operating Activities -5.459M -5.742M -3.677M
Cash From Investing Activities -4.596M -795.0K -2.420K
Cash From Financing Activities 32.19M 34.89M 183.6K
Net Change In Cash 22.13M 28.35M -3.495M
YoY Change 535.42% -1151.34%
FREE CASH FLOW
Cash From Operating Activities -$5.459M -$5.742M -$3.677M
Capital Expenditures $4.596M $795.0K $2.420K
Free Cash Flow -$10.05M -$6.537M -$3.679M
YoY Change 76.19% -0.81%

Facts In Submission

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us-gaap Depreciation
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us-gaap Depreciation
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Unrealized Gain Loss On Derivatives
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us-gaap Fair Value Adjustment Of Warrants
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us-gaap Fair Value Adjustment Of Warrants
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Prepaid Expense
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us-gaap Increase Decrease In Prepaid Expense
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serv Increase Decrease In Escrow Receivable Current
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180000 usd
serv Increase Decrease In Escrow Receivable Current
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0 usd
us-gaap Increase Decrease In Accounts Payable
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-663046 usd
us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities
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-120231 usd
us-gaap Increase Decrease In Accrued Liabilities
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-36045 usd
us-gaap Increase Decrease In Contract With Customer Liability
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52863 usd
us-gaap Increase Decrease In Contract With Customer Liability
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0 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-28818 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-23163 usd
us-gaap Net Cash Provided By Used In Operating Activities
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-9820242 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6590205 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
798322 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-798322 usd
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0 usd
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0 usd
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ProceedsFromIssuanceOfFinancialInstrumentsSubjectToMandatoryRedemption
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serv Proceeds From Lease Liability Financing
ProceedsFromLeaseLiabilityFinancing
4844625 usd
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ProceedsFromLeaseLiabilityFinancing
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us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
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us-gaap Proceeds From Related Party Debt
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us-gaap Proceeds From Warrant Exercises
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0 usd
us-gaap Proceeds From Stock Options Exercised
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8757 usd
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0 usd
us-gaap Proceeds From Issuance Of Common Stock
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35849136 usd
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0 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
500000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
500000 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
70000 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 usd
us-gaap Payments Of Stock Issuance Costs
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0 usd
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352617 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
746583 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1118348 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
39391842 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Income Taxes Paid Net
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serv Derivative Liability In Connection With Convertible Note
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us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
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us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
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us-gaap Nature Of Operations
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NATURE OF OPERATIONS<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Serve Operating Co. (“Serve”) (formerly known as Serve Robotics Inc.) is a corporation formed on January 15, 2021 under the laws of the State of Delaware.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On July 31, 2023, Serve Acquisition Corp., a corporation formed in the State of Delaware on July 10, 2023 (“Acquisition Sub”) and wholly-owned subsidiary of Patricia Acquisition Corp., a Delaware corporation incorporated on November 9, 2020 (“Patricia”), merged with and into the Company (as defined below). Pursuant to this transaction (the “Merger”), Serve was the surviving corporation and became Patricia’s wholly owned subsidiary, and all of the outstanding stock of Serve was converted into shares of Patricia’s common stock. All of Serve’s outstanding warrants and options were assumed by Patricia. In addition, on July 31, 2023, the board of directors of Patricia and all of its pre-Merger stockholders approved a restated certificate of incorporation, which was effective upon its filing with the Secretary of State of the State of Delaware on July 31, 2023, and through which Patricia changed its name to “Serve Robotics Inc.” Following the consummation of the Merger, Serve Robotics Inc. changed its name to “Serve Operating Co.”</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the Merger, Patricia acquired the business of Serve and continued the existing business operations of Serve as a public reporting company under the name Serve Robotics Inc. (the “Company”). The Company is developing autonomous robots for last-mile delivery services. The Company is headquartered in Redwood City, California. In accordance with “reverse merger” or “reverse acquisition” accounting treatment, the Company was determined the accounting acquirer. Patricia’s historical financial statements before the Merger have been replaced with the historical financial statements of Serve before the Merger in filings with the SEC since the Merger unless otherwise noted.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Public Offering</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 17, 2024, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Aegis Capital Corp. (“Aegis”) in connection with the public offering of 10,000,000 shares of the Company’s common stock, par value $0.0001, at a public offering price of $4.00 per share (the “Offering”). The Company’s net proceeds from the Offering, after deducting the underwriting discount and other estimated offering expenses payable by the Company, were approximately $35.8 million. As a result of the Offering, the Company’s Common Stock was approved for listing on The Nasdaq Capital Market and commenced trading under the ticker symbol “SERV” beginning on April 18, 2024. See Note 8.</span></div>
CY2024Q2 us-gaap Shares Issued
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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt;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 the Company’s financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, the valuations of common stock and options. The Company bases its estimates on historical experience, known trends and other market-</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates when there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.</span></div>
us-gaap Concentration Risk Credit Risk
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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Concentrations of Credit Risk</span></div>Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company generally maintains balances in various operating accounts at financial institutions that management believes to be of high credit quality, in amounts that may exceed federally insured limits. The Company has not experienced any losses related to its cash and cash equivalents and does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
102261 usd
us-gaap Advertising Expense
AdvertisingExpense
0 usd
us-gaap Advertising Expense
AdvertisingExpense
184000 usd
CY2024Q2 us-gaap Advertising Expense
AdvertisingExpense
0 usd
CY2023Q2 us-gaap Advertising Expense
AdvertisingExpense
0 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6091865 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13056409 shares
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
1489000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Other Comprehensive Income
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome
221560 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
1710560 usd
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3141276 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2342954 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2322032 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2294532 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
819244 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
48422 usd
CY2024Q2 us-gaap Depreciation
Depreciation
9577 usd
CY2023Q2 us-gaap Depreciation
Depreciation
465639 usd
us-gaap Depreciation
Depreciation
27500 usd
us-gaap Depreciation
Depreciation
931279 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
500000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
500000 usd
CY2024Q1 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
80000000 shares
CY2024Q2 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
2.42
CY2024Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
1710560 usd
CY2024Q1 serv Debt Discount
DebtDiscount
1658875 usd
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
1658875 usd
CY2024Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
15859 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
78540 usd
serv Common Stock Voting Rights Number Of Votes
CommonStockVotingRightsNumberOfVotes
1 vote
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2023Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
10000000 shares
CY2024Q2 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
40000000 usd
CY2024Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
4.00
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
4150864 usd
CY2024Q2 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
2.42
CY2024Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
18341 shares
CY2024Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
17936 shares
CY2024Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
8757 usd
CY2022 serv Shares Of Restricted Common Stock Issued
SharesOfRestrictedCommonStockIssued
338121 shares
CY2022 serv Restricted Common Stock For Recourse Notes
RestrictedCommonStockForRecourseNotes
164116 usd
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
245060 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
375358 shares
us-gaap Operating Lease Cost
OperatingLeaseCost
250406 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
411770 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
279224 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1515386 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.61
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5111928 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
110168 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.03
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
17936 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.80
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
77718 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.63
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1529900 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.86
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
16931 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
910285 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.86
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
11450 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1529900 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
0.86
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
16931 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3480037 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
106929 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7735469 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
200872 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
273570 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y9M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y3M18D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0725
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0725
CY2024Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1617224 usd
CY2024Q2 us-gaap Property Plant And Equipment Salvage Value Percentage
PropertyPlantAndEquipmentSalvageValuePercentage
0.45
CY2021Q4 serv Purchases Over Obligation
PurchasesOverObligation
2300000 usd
CY2021Q4 us-gaap Longterm Purchase Commitment Period
LongtermPurchaseCommitmentPeriod
P2Y
CY2021Q4 us-gaap Longterm Purchase Commitment Period
LongtermPurchaseCommitmentPeriod
P2Y
CY2021Q4 serv Purchases Over Obligation
PurchasesOverObligation
2300000 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0001832483-24-000016.txt Edgar Link pending
0001832483-24-000016-xbrl.zip Edgar Link pending
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