2023 Q2 Form 10-Q Financial Statement

#000181939523000074 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $157.4M $120.7M $80.47M
YoY Change 29.74% 50.05% 154.98%
Cost Of Revenue $93.24M $15.63M $10.30M
YoY Change 534.87% 51.84%
Gross Profit $64.16M $105.1M $70.17M
YoY Change -39.83% 49.79%
Gross Profit Margin 40.76% 87.05% 87.2%
Selling, General & Admin $48.40M $48.58M $46.44M
YoY Change 10.78% 4.61% 33.99%
% of Gross Profit 75.44% 46.22% 66.18%
Research & Development $5.563M $6.580M $7.625M
YoY Change -31.22% -13.7% 129.74%
% of Gross Profit 8.67% 6.26% 10.87%
Depreciation & Amortization $5.978M $7.048M $5.630M
YoY Change -0.3% 25.19% 36.68%
% of Gross Profit 9.32% 6.71% 8.02%
Operating Expenses $53.96M $55.16M $54.07M
YoY Change 4.22% 2.02% 42.36%
Operating Profit -$42.01M -$84.74M -$95.76M
YoY Change -37.93% -11.51% 34.79%
Interest Expense -$6.155M -$5.707M -$8.202M
YoY Change 40.46% -30.42% 114.32%
% of Operating Profit
Other Income/Expense, Net -$3.133M -$1.607M $118.2M
YoY Change -113.04% -101.36% -1682.37%
Pretax Income -$45.15M -$86.35M $22.42M
YoY Change 3.41% -485.1% -128.56%
Income Tax $200.0K $81.00K $31.00K
% Of Pretax Income 0.14%
Net Earnings -$45.33M -$86.43M $22.39M
YoY Change 3.55% -485.99% -128.51%
Net Earnings / Revenue -28.8% -71.59% 27.83%
Basic Earnings Per Share -$0.21 -$0.39 $0.11
Diluted Earnings Per Share -$0.21 -$0.39 -$0.18
COMMON SHARES
Basic Shares Outstanding 219.3M shares 219.3M shares 176.3M shares
Diluted Shares Outstanding 218.0M shares 219.1M shares 171.8M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $177.4M $218.0M $406.3M
YoY Change -50.64% -46.36% 145024.29%
Cash & Equivalents $177.4M $218.0M $406.3M
Short-Term Investments
Other Short-Term Assets $11.52M $12.71M $18.52M
YoY Change -39.38% -31.37% 923.09%
Inventory
Prepaid Expenses
Receivables $14.04M $6.990M $1.336M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $253.9M $271.2M $444.7M
YoY Change -36.41% -39.01% 21177.51%
LONG-TERM ASSETS
Property, Plant & Equipment $31.62M $35.43M $35.24M
YoY Change -11.2% 0.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.67M $13.79M $15.61M
YoY Change -11.16% -11.63%
Total Long-Term Assets $1.354B $1.250B $1.185B
YoY Change 16.7% 5.54% 163.26%
TOTAL ASSETS
Total Short-Term Assets $253.9M $271.2M $444.7M
Total Long-Term Assets $1.354B $1.250B $1.185B
Total Assets $1.608B $1.521B $1.629B
YoY Change 3.11% -6.62% 260.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.88M $14.09M $16.11M
YoY Change 28.89% -12.51%
Accrued Expenses $18.56M $18.23M $25.31M
YoY Change -28.03% -27.98% 1452.94%
Deferred Revenue $59.86M $58.42M $34.07M
YoY Change 58.57% 71.49%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $297.3M $279.7M $229.9M
YoY Change 22.05% 21.66% 896.28%
LONG-TERM LIABILITIES
Long-Term Debt $186.9M $179.7M $156.7M
YoY Change 15.87% 14.64%
Other Long-Term Liabilities $1.106M $2.043M $36.60M
YoY Change -45.6% -94.42% 132.4%
Total Long-Term Liabilities $188.0M $181.7M $193.3M
YoY Change 15.11% -6.01% 1127.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $297.3M $279.7M $229.9M
Total Long-Term Liabilities $188.0M $181.7M $193.3M
Total Liabilities $1.744B $1.618B $1.494B
YoY Change 19.72% 8.31% 3748.77%
SHAREHOLDERS EQUITY
Retained Earnings -$1.112B -$1.067B -$792.4M
YoY Change 33.02% 34.65%
Common Stock $21.00K $21.00K $1.000K
YoY Change 5.0% 2000.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$136.6M -$96.83M $135.3M
YoY Change
Total Liabilities & Shareholders Equity $1.608B $1.521B $1.629B
YoY Change 3.11% -6.62% 260.41%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$45.33M -$86.43M $22.39M
YoY Change 3.55% -485.99% -128.51%
Depreciation, Depletion And Amortization $5.978M $7.048M $5.630M
YoY Change -0.3% 25.19% 36.68%
Cash From Operating Activities -$25.38M -$35.49M -$50.69M
YoY Change -37.98% -29.99% 25.76%
INVESTING ACTIVITIES
Capital Expenditures $1.875M $6.924M $10.54M
YoY Change -133.45% -34.3% 529.19%
Acquisitions
YoY Change
Other Investing Activities -$135.0K -$554.0K -$1.077M
YoY Change -88.35% -48.56% -99.76%
Cash From Investing Activities -$2.010M -$7.478M -$11.62M
YoY Change -70.29% -35.62% 334.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $24.68M
YoY Change 1122.99%
Cash From Financing Activities 0.000 $8.000K $399.7M
YoY Change -100.0% -100.0% 146.16%
NET CHANGE
Cash From Operating Activities -25.38M -$35.49M -$50.69M
Cash From Investing Activities -2.010M -$7.478M -$11.62M
Cash From Financing Activities 0.000 $8.000K $399.7M
Net Change In Cash -27.39M -$42.78M $337.1M
YoY Change -41.86% -112.69% 182.98%
FREE CASH FLOW
Cash From Operating Activities -$25.38M -$35.49M -$50.69M
Capital Expenditures $1.875M $6.924M $10.54M
Free Cash Flow -$27.26M -$42.42M -$61.23M
YoY Change -22.83% -30.73% 45.85%

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CY2023Q1 sond Capitalization Of Interest On Long Term Debt
CapitalizationOfInterestOnLongTermDebt
6345000 usd
CY2022Q1 sond Capitalization Of Interest On Long Term Debt
CapitalizationOfInterestOnLongTermDebt
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CY2023Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
368000 usd
CY2022Q1 us-gaap Amortization Of Debt Discount Premium
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CY2023Q1 sond Debt Gain Loss On Share Settle Redemption Feature And Conversion Of Debt
DebtGainLossOnShareSettleRedemptionFeatureAndConversionOfDebt
0 usd
CY2022Q1 sond Debt Gain Loss On Share Settle Redemption Feature And Conversion Of Debt
DebtGainLossOnShareSettleRedemptionFeatureAndConversionOfDebt
29512000 usd
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FairValueAdjustmentOfWarrants
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FairValueAdjustmentOfWarrants
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DerivativeGainLossOnDerivativeNet
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73177000 usd
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OtherNoncashIncomeExpense
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OtherNoncashIncomeExpense
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CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
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1962000 usd
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CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
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4742000 usd
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IncreaseDecreaseInPropertyAndOtherTaxesPayable
2020000 usd
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2963000 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
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16703000 usd
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15253000 usd
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3165000 usd
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NetCashProvidedByUsedInOperatingActivities
-35492000 usd
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NetCashProvidedByUsedInOperatingActivities
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PaymentsToAcquirePropertyPlantAndEquipment
6924000 usd
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PaymentsToAcquirePropertyPlantAndEquipment
10539000 usd
CY2023Q1 us-gaap Payments To Develop Software
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554000 usd
CY2022Q1 us-gaap Payments To Develop Software
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1077000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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NetCashProvidedByUsedInInvestingActivities
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CY2023Q1 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
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CY2023Q1 sond Repayment Of Debt And Payment Of Early Termination Fees
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RepaymentOfDebtAndPaymentOfEarlyTerminationFees
27745000 usd
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ProceedsFromIssuanceOfPrivatePlacement
0 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
325928000 usd
CY2023Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
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CY2022Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
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CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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NetCashProvidedByUsedInFinancingActivities
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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
180000 usd
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
337090000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
289186000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69941000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
246404000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
407031000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
381000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
713000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
1873000 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2023Q1 us-gaap Notes Reduction
NotesReduction
0 usd
CY2022Q1 us-gaap Notes Reduction
NotesReduction
159172000 usd
CY2023Q1 sond Noncash Or Part Noncash Acquisition Conversion Of Warrants Amount
NoncashOrPartNoncashAcquisitionConversionOfWarrantsAmount
0 usd
CY2022Q1 sond Noncash Or Part Noncash Acquisition Conversion Of Warrants Amount
NoncashOrPartNoncashAcquisitionConversionOfWarrantsAmount
1243000 usd
CY2023Q1 sond Conversion Of Stock Warrants Amount Converted
ConversionOfStockWarrantsAmountConverted
0 usd
CY2022Q1 sond Conversion Of Stock Warrants Amount Converted
ConversionOfStockWarrantsAmountConverted
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CY2023Q1 sond Noncash Or Part Noncash Acquisition Derivative Liabilities Assumed
NoncashOrPartNoncashAcquisitionDerivativeLiabilitiesAssumed
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CY2022Q1 sond Noncash Or Part Noncash Acquisition Derivative Liabilities Assumed
NoncashOrPartNoncashAcquisitionDerivativeLiabilitiesAssumed
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CY2023Q1 sond Recognition Of Spac Warrants Reverse Recapitalization
RecognitionOfSPACWarrantsReverseRecapitalization
0 usd
CY2022Q1 sond Recognition Of Spac Warrants Reverse Recapitalization
RecognitionOfSPACWarrantsReverseRecapitalization
25985000 usd
CY2023Q1 sond Noncash Or Part Cash Transaction Issuance Of Delayed Draw Warrants
NoncashOrPartCashTransactionIssuanceOfDelayedDrawWarrants
0 usd
CY2022Q1 sond Noncash Or Part Cash Transaction Issuance Of Delayed Draw Warrants
NoncashOrPartCashTransactionIssuanceOfDelayedDrawWarrants
5598000 usd
CY2023Q1 sond Conversion Of Post Combination Exchangeable Shares
ConversionOfPostCombinationExchangeableShares
0 usd
CY2022Q1 sond Conversion Of Post Combination Exchangeable Shares
ConversionOfPostCombinationExchangeableShares
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CY2023Q1 us-gaap Conversion Of Stock Amount Issued1
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CY2022Q1 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
518750000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2023Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
246404000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
407031000 usd
CY2023Q1 sond Variable Interest Entity Number Of Entities
VariableInterestEntityNumberOfEntities
1 entity
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div><span style="background-color:#ffffff;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="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expense during the reporting periods. Such significant management estimates include the fair value of share-based awards, estimated useful life of long-lived assets, bad-debt allowances, valuation of intellectual property and intangible assets, contingent liabilities, valuation allowance for deferred tax assets, and valuation of non-routine complex transactions, such as recognition of the Earn Out Liability and SPAC Warrants (both as defined below), among others. 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></div>
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="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%">Reclassification</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain amounts reported in previous condensed consolidated financial statements have been reclassified to conform to current period presentation. These reclassifications did not affect previously reported amounts of net income, total assets, or total stockholders’ deficit.</span></div>
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
11400000 usd
CY2022Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
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CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
106758000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
10994000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
10963000 usd
CY2022Q1 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
1406000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9557000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
12962000 usd
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2022Q1 sond Stock Issued During Period Value Spac Warrants Reverse Recapitalization
StockIssuedDuringPeriodValueSPACWarrantsReverseRecapitalization
25985000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
10963000 usd
CY2022Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
930519000 usd
CY2022Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-803849000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
135988000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
10963000 usd
CY2022Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-14895000 usd
CY2022Q1 sond Recognition Of Spac Warrants Reverse Recapitalization
RecognitionOfSPACWarrantsReverseRecapitalization
25985000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
120738000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
80466000 usd
CY2022 sond Noncash Or Part Noncash Acquisition Derivative Liabilities Assumed
NoncashOrPartNoncashAcquisitionDerivativeLiabilitiesAssumed
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CY2022 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
30322000 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
189597000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2023Q1 sond Debt Instrument Delayed Draw Warrants
DebtInstrumentDelayedDrawWarrants
4761000 usd
CY2022Q4 sond Debt Instrument Delayed Draw Warrants
DebtInstrumentDelayedDrawWarrants
4945000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
5171000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
5350000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
179665000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
172950000 usd
CY2023Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
28400000 usd
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
42600000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
75259000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
62947000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
632000 usd
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
2000 usd
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
1501000 usd
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
643000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
77392000 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
63592000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
68215000 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
49765000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
38527000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
114900000 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
77400000 usd
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
65100000 usd
CY2022Q1 sond Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
1.4686
CY2022Q1 sond Shares Authorized
SharesAuthorized
690000000 shares
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000000 shares
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
142724687 shares
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
126055660 shares
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12180000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6680000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-86431000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
10963000 usd
CY2023Q1 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 usd
CY2022Q1 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
1406000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-86431000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9557000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
219105342 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
176326658 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.39
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-86431000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
10963000 usd
CY2023Q1 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 usd
CY2022Q1 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
2727000 usd
CY2023Q1 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
0 usd
CY2022Q1 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
-29512000 usd
CY2023Q1 sond Dilutive Securities Effect On Basic Earnings For Each Share Stock Warrants
DilutiveSecuritiesEffectOnBasicEarningsForEachShareStockWarrants
0 usd
CY2022Q1 sond Dilutive Securities Effect On Basic Earnings For Each Share Stock Warrants
DilutiveSecuritiesEffectOnBasicEarningsForEachShareStockWarrants
-14895000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-86431000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-30717000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
219105342 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
176326658 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4499600 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
219105342 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
171827058 shares
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.39
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
86429741 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
65512608 shares
CY2023Q1 sond Number Of Surety Providers
NumberOfSuretyProviders
5 surety_provider
CY2023Q1 sond Loss Contingency Estimated Accrual Liability Related To Tax Matters
LossContingencyEstimatedAccrualLiabilityRelatedToTaxMatters
8300000 usd
CY2022Q4 sond Loss Contingency Estimated Accrual Liability Related To Tax Matters
LossContingencyEstimatedAccrualLiabilityRelatedToTaxMatters
7900000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
81000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
31000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0009
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0028
CY2022Q4 sond Extension Of Post Exchangeable Shares Period
ExtensionOfPostExchangeableSharesPeriod
P5Y
CY2022Q1 sond Payments Of Reverse Recapitalization Transaction Costs
PaymentsOfReverseRecapitalizationTransactionCosts
58555000 usd
CY2022Q1 sond Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
267373000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
159225000 usd
CY2022Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
24680000 usd
CY2022Q1 sond Reverse Recapitalization Net
ReverseRecapitalizationNet
401918000 usd
CY2022Q2 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
4000000 usd
CY2023Q1 us-gaap Restructuring Charges
RestructuringCharges
2100000 usd
CY2023Q1 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
1600000 usd

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