2023 Q1 Form 10-Q Financial Statement

#000162828023015927 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $125.1M $102.6M
YoY Change 21.9% 67.11%
Cost Of Revenue $95.50M $74.49M
YoY Change 28.19% 51.28%
Gross Profit $29.57M $28.10M
YoY Change 5.22% 131.27%
Gross Profit Margin 23.64% 27.39%
Selling, General & Admin $50.90M $66.98M
YoY Change -24.01% 94.78%
% of Gross Profit 172.16% 238.39%
Research & Development $300.0K $200.0K
YoY Change 50.0%
% of Gross Profit 1.01% 0.71%
Depreciation & Amortization $13.11M $10.68M
YoY Change 22.79% 36.06%
% of Gross Profit 44.34% 38.0%
Operating Expenses $52.26M $62.87M
YoY Change -16.88% 95.01%
Operating Profit -$35.32M -$49.57M
YoY Change -28.74% 64.48%
Interest Expense $21.00K $23.00K
YoY Change -8.7% 15.0%
% of Operating Profit
Other Income/Expense, Net -$1.058M $245.0K
YoY Change -531.84%
Pretax Income -$33.34M -$49.18M
YoY Change -32.21% 63.69%
Income Tax $300.0K $20.00K
% Of Pretax Income
Net Earnings -$33.66M -$49.20M
YoY Change -31.59% 63.75%
Net Earnings / Revenue -26.91% -47.96%
Basic Earnings Per Share -$0.30 -$0.45
Diluted Earnings Per Share -$0.30 -$0.45
COMMON SHARES
Basic Shares Outstanding 111.3M shares 109.5M shares
Diluted Shares Outstanding 111.3M shares 109.5M shares

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $296.8M $436.5M
YoY Change -32.0%
Cash & Equivalents $296.8M $436.5M
Short-Term Investments
Other Short-Term Assets $8.042M $1.520M
YoY Change 429.08%
Inventory $1.284M $956.0K
Prepaid Expenses $7.537M $11.36M
Receivables $5.064M $3.831M
Other Receivables $0.00 $17.90M
Total Short-Term Assets $318.8M $472.6M
YoY Change -32.54%
LONG-TERM ASSETS
Property, Plant & Equipment $246.9M $190.6M
YoY Change 29.55%
Goodwill $36.00M $36.00M
YoY Change 0.0%
Intangibles $31.88M
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.705M $6.625M
YoY Change -28.98%
Total Long-Term Assets $577.0M $265.1M
YoY Change 117.66%
TOTAL ASSETS
Total Short-Term Assets $318.8M $472.6M
Total Long-Term Assets $577.0M $265.1M
Total Assets $895.8M $737.7M
YoY Change 21.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.12M $13.82M
YoY Change -5.06%
Accrued Expenses $20.73M $15.18M
YoY Change 36.53%
Deferred Revenue $1.836M $1.622M
YoY Change 13.19%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $73.26M $49.44M
YoY Change 48.19%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.299M $500.0K
YoY Change 159.8%
Total Long-Term Liabilities $1.299M $500.0K
YoY Change 159.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $73.26M $49.44M
Total Long-Term Liabilities $1.299M $500.0K
Total Liabilities $373.2M $110.8M
YoY Change 236.89%
SHAREHOLDERS EQUITY
Retained Earnings -$705.3M -$525.4M
YoY Change 34.23%
Common Stock $111.0K $110.0K
YoY Change 0.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $522.6M $626.9M
YoY Change
Total Liabilities & Shareholders Equity $895.8M $737.7M
YoY Change 21.43%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$33.66M -$49.20M
YoY Change -31.59% 63.75%
Depreciation, Depletion And Amortization $13.11M $10.68M
YoY Change 22.79% 36.06%
Cash From Operating Activities -$3.130M -$16.75M
YoY Change -81.32% 1.76%
INVESTING ACTIVITIES
Capital Expenditures $30.86M $18.06M
YoY Change 70.88% 8.91%
Acquisitions
YoY Change
Other Investing Activities $6.000K -$359.0K
YoY Change -101.67%
Cash From Investing Activities -$32.38M -$19.61M
YoY Change 65.16% 9.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $723.0K $849.0K
YoY Change -14.84% -99.27%
NET CHANGE
Cash From Operating Activities -$3.130M -$16.75M
Cash From Investing Activities -$32.38M -$19.61M
Cash From Financing Activities $723.0K $849.0K
Net Change In Cash -$34.79M -$35.51M
YoY Change -2.04% -143.33%
FREE CASH FLOW
Cash From Operating Activities -$3.130M -$16.75M
Capital Expenditures $30.86M $18.06M
Free Cash Flow -$33.99M -$34.81M
YoY Change -2.36% 5.35%

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CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1155000 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-180000 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-217000 usd
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-54000 usd
CY2022Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-202000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3130000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-17293000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
30860000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18059000 usd
CY2023Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1525000 usd
CY2022Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1187000 usd
CY2023Q1 sg Increase Decrease In Security And Landlord Deposits
IncreaseDecreaseInSecurityAndLandlordDeposits
6000 usd
CY2022Q1 sg Increase Decrease In Security And Landlord Deposits
IncreaseDecreaseInSecurityAndLandlordDeposits
181000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-32379000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-19065000 usd
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
767000 usd
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
849000 usd
CY2023Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
44000 usd
CY2022Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
723000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
849000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-34786000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-35509000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
331739000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
472299000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
296953000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
436790000 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
5907000 usd
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2776000 usd
CY2023Q1 us-gaap Number Of Restaurants
NumberOfRestaurants
195 restaurant
CY2023Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
16 state
CY2023Q1 sg Number Of Restraunts Opened
NumberOfRestrauntsOpened
9 restaurant
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023Q1 us-gaap Fiscal Period
FiscalPeriod
<span style="color:#231f20;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fiscal Year</span><span style="color:#231f20;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—The Company’s fiscal year is a 52- or 53-week period that ends on the Sunday closest to the last day of December. Fiscal year 2023 is a 53-week period that ends December 31, 2023 and fiscal year 2022 was a 52-week period that ended December 25, 2022. In a 52-week fiscal year, each quarter includes 13 weeks of operations. In a 53-week fiscal year, the first, second and third quarters each include 13 weeks of operations, and the fourth quarter includes 14 weeks of operations.</span>
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#231f20;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Management’s Use of Estimates</span><span style="color:#231f20;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—The condensed consolidated financial statements have been prepared by the Company in accordance with GAAP and the rules and regulations of the SEC. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates made by the Company include the income tax valuation allowance, impairment of long-lived assets and operating lease assets, legal liabilities, fair value of contingent consideration liability, lease accounting matters, valuation of intangible assets acquired in business combinations, goodwill and stock-based compensation. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from those estimates.</span>
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<span style="color:#231f20;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reclassification—</span><span style="color:#231f20;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has elected to reclassify prior period costs related to utilities and repairs and maintenance costs to conform with the current presentation of occupancy and other related costs within the consolidated statement of operations. As such, prior period financial information has been reclassified, and as a result of the change, the Company reclassified $4.2 million for the thirteen weeks ended March 27, 2022 from occupancy and related expenses to other restaurant operating costs.</span>
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
296828000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
331614000 usd
CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
125000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
125000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
296953000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
331739000 usd
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<span style="color:#231f20;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentrations of Risk</span><span style="color:#231f20;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—The Company maintains cash balances at several financial institutions located in the United States. The cash balances may, at times, exceed federally insured limits. Accounts are guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) up to $0.3 million. </span>During the thirteen weeks ended March 26, 2023 and March 27, 2022, approximately 28% and 31% of the Company’s revenue was generated from the Company’s restaurants located in the New York City metropolitan area, respectively.
CY2023Q1 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
300000 usd
CY2023Q1 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
5600000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
125062000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
102591000 usd
CY2021Q3 sg Number Of Performance Based Milestone Targets
NumberOfPerformanceBasedMilestoneTargets
3 milestone
CY2022 sg Number Of Facilities Under Construction
NumberOfFacilitiesUnderConstruction
20 facility
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
396684000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
376701000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
149755000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
141444000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
246929000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
235257000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
11100000 usd
CY2022Q1 us-gaap Depreciation
Depreciation
8800000 usd
CY2023Q1 sg Number Of Facilities Under Construction
NumberOfFacilitiesUnderConstruction
19 facility
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
300000 usd
CY2022Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
200000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
36000000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
53052000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
51552000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
22970000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
20990000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
30082000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
30562000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
4629000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3953000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1400000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
50000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
0 usd
CY2023Q1 us-gaap Accrued Rent Current
AccruedRentCurrent
1362000 usd
CY2022Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
1728000 usd
CY2023Q1 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
3276000 usd
CY2022Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
2736000 usd
CY2023Q1 sg Accrued Delivery Fee Current
AccruedDeliveryFeeCurrent
1107000 usd
CY2022Q4 sg Accrued Delivery Fee Current
AccruedDeliveryFeeCurrent
968000 usd
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1256000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1106000 usd
CY2023Q1 sg Fixed Asset Accrual Current
FixedAssetAccrualCurrent
4316000 usd
CY2022Q4 sg Fixed Asset Accrual Current
FixedAssetAccrualCurrent
5963000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
9414000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
9568000 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
20731000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
22069000 usd
CY2023Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P10Y
CY2023Q1 sg Operating Lease And Preopeing Cost
OperatingLeaseAndPreopeingCost
11829000 usd
CY2022Q1 sg Operating Lease And Preopeing Cost
OperatingLeaseAndPreopeingCost
9640000 usd
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
2612000 usd
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
2023000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
145000 usd
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
145000 usd
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
178000 usd
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
178000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
14408000 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
11630000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
32748000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
52260000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
52457000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
51329000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
47018000 usd
CY2023Q1 sg Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
163890000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
399702000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
96281000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
303421000 usd
CY2023Q1 sg Lessee Operating Lease Lease Not Yet Commenced Amount
LesseeOperatingLeaseLeaseNotYetCommencedAmount
22500000 usd
CY2022Q4 sg Lessee Operating Lease Lease Not Yet Commenced Amount
LesseeOperatingLeaseLeaseNotYetCommencedAmount
18000000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y10M28D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y11M23D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0635
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0609
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
12789000 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
8930000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
10532000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
8697000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
8.66
CY2023Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
36274918 shares
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
36585884 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
13813922 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.86
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y7M17D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
34454000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1014844 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.95
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
160964 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.77
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
256242 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
44238 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
11.09
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
14367322 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.88
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y9M
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
17845000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
9945317 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.24
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y9M14D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
17638000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
14367322 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
7.88
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y9M
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
17845000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
13773414 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.87
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y5M1D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
337269000 usd
CY2022Q1 sg Share Based Compensation Arrangement By Share Based Payment Award Options Assumed In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAssumedInPeriod
0 shares
CY2022Q1 sg Share Based Compensation Arrangement By Share Based Payment Award Options Assumed In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAssumedInPeriodWeightedAverageExercisePrice
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
369274 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
25.39
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
153158 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.45
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
53721 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
9.99
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
11197 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
6.07
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
13924612 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.37
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M21D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
348686000 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
8642689 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.07
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y3M21D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
236185000 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
13924612 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
7.37
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y3M21D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
348686000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.43
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.16
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14265000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22165000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000 usd
CY2022Q1 sg Income Tax Expense Benefit Less Than
IncomeTaxExpenseBenefitLessThan
100000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-33657000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-49652000 usd
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111297064 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
111297064 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
109472050 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
109472050 shares
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.30
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.30
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.45
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.45
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23313438 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23815512 shares

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