2022 Q2 Form 10-Q Financial Statement
#000162828022017016 Filed on June 14, 2022
Income Statement
Concept | 2022 Q2 | 2022 Q1 | 2021 Q2 |
---|---|---|---|
Revenue | $51.55M | $120.6M | $49.43M |
YoY Change | 4.28% | -22.69% | -72.13% |
Cost Of Revenue | $42.30M | $107.0M | $39.53M |
YoY Change | 7.01% | -10.95% | -72.53% |
Gross Profit | $9.245M | $13.60M | $9.903M |
YoY Change | -6.64% | -62.06% | -70.41% |
Gross Profit Margin | 17.93% | 11.27% | 20.03% |
Selling, General & Admin | $9.214M | $23.91M | $12.42M |
YoY Change | -25.8% | 9.62% | -52.01% |
% of Gross Profit | 99.66% | 175.79% | 125.39% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | -$14.64M | $11.64M | -$8.500M |
YoY Change | 72.26% | 8.85% | -168.55% |
% of Gross Profit | -158.38% | 85.56% | -85.83% |
Operating Expenses | $9.214M | $27.81M | $12.42M |
YoY Change | -25.8% | 2.36% | -61.68% |
Operating Profit | $31.00K | -$14.21M | -$2.514M |
YoY Change | -101.23% | -263.7% | -335.61% |
Interest Expense | $848.0K | $7.980M | $619.0K |
YoY Change | 37.0% | 1.98% | -92.74% |
% of Operating Profit | 2735.48% | ||
Other Income/Expense, Net | $1.306M | -$8.043M | -$465.0K |
YoY Change | -380.86% | -19.46% | -91.9% |
Pretax Income | $1.337M | -$22.25M | -$2.979M |
YoY Change | -144.88% | 1605.29% | -36.26% |
Income Tax | $11.03M | $723.0K | $6.315M |
% Of Pretax Income | 825.13% | ||
Net Earnings | $30.20M | -$22.98M | -$27.63M |
YoY Change | -209.31% | 946.31% | 348.6% |
Net Earnings / Revenue | 58.59% | -19.05% | -55.89% |
Basic Earnings Per Share | $0.50 | -$0.39 | -$0.45 |
Diluted Earnings Per Share | $504.6K | -$0.39 | -$0.45 |
COMMON SHARES | |||
Basic Shares Outstanding | 59.85M shares | 59.75M shares | 62.26M shares |
Diluted Shares Outstanding | 59.85M shares | 59.75M shares | 62.26M shares |
Balance Sheet
Concept | 2022 Q2 | 2022 Q1 | 2021 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $49.91M | $64.65M | $97.58M |
YoY Change | -48.85% | -26.2% | 8.18% |
Cash & Equivalents | $49.91M | $64.65M | $61.99M |
Short-Term Investments | |||
Other Short-Term Assets | $11.91M | $25.54M | $33.16M |
YoY Change | -64.08% | -18.42% | -20.09% |
Inventory | $9.837M | $19.43M | $15.67M |
Prepaid Expenses | |||
Receivables | $43.93M | $68.97M | $72.05M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $115.6M | $178.6M | $218.5M |
YoY Change | -47.09% | -18.58% | -6.74% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $3.768M | $48.96M | $66.62M |
YoY Change | -94.34% | -30.73% | -21.72% |
Goodwill | $231.5M | $231.5M | |
YoY Change | -9.98% | -9.98% | |
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $6.123M | $6.364M | $7.062M |
YoY Change | -13.3% | -1.82% | -10.61% |
Total Long-Term Assets | $31.71M | $444.1M | $475.4M |
YoY Change | -93.33% | -12.33% | -13.63% |
TOTAL ASSETS | |||
Total Short-Term Assets | $115.6M | $178.6M | $218.5M |
Total Long-Term Assets | $31.71M | $444.1M | $475.4M |
Total Assets | $147.3M | $622.7M | $693.9M |
YoY Change | -78.77% | -14.22% | -11.57% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $32.36M | $57.33M | $56.76M |
YoY Change | -42.99% | 0.97% | -23.58% |
Accrued Expenses | $29.41M | $104.9M | $107.6M |
YoY Change | -72.67% | -5.73% | -0.31% |
Deferred Revenue | $3.099M | $3.560M | $2.748M |
YoY Change | 12.77% | -32.73% | -27.87% |
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Long-Term Debt Due | $361.0M | $5.612M | |
YoY Change | 6367.14% | 39.74% | |
Total Short-Term Liabilities | $92.16M | $567.3M | $219.8M |
YoY Change | -58.08% | 154.05% | -19.89% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $10.57M | $10.14M | $368.6M |
YoY Change | -97.13% | -97.27% | -1.89% |
Other Long-Term Liabilities | $4.693M | $7.643M | $11.20M |
YoY Change | -58.11% | -31.67% | 18.37% |
Total Long-Term Liabilities | $29.38M | $56.94M | $419.2M |
YoY Change | -92.99% | -86.43% | -2.71% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $92.16M | $567.3M | $219.8M |
Total Long-Term Liabilities | $29.38M | $56.94M | $419.2M |
Total Liabilities | $121.5M | $624.2M | $639.1M |
YoY Change | -80.98% | -2.91% | -9.39% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$7.494B | -$7.524B | -$7.469B |
YoY Change | 0.34% | 1.12% | 0.48% |
Common Stock | $604.0K | $605.0K | $631.0K |
YoY Change | -4.28% | -3.97% | 1.12% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$9.427M | -$36.74M | $19.58M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $147.3M | $622.7M | $693.9M |
YoY Change | -78.77% | -14.22% | -11.57% |
Cashflow Statement
Concept | 2022 Q2 | 2022 Q1 | 2021 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $30.20M | -$22.98M | -$27.63M |
YoY Change | -209.31% | 946.31% | 348.6% |
Depreciation, Depletion And Amortization | -$14.64M | $11.64M | -$8.500M |
YoY Change | 72.26% | 8.85% | -168.55% |
Cash From Operating Activities | $17.90M | -$12.74M | -$10.15M |
YoY Change | -276.32% | -37.96% | -122.47% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $7.010M | -$3.410M | $1.258M |
YoY Change | 457.23% | 210.0% | -213.33% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$963.0K | $902.0K | $69.00K |
YoY Change | -1495.65% | -790.0% | |
Cash From Investing Activities | $6.047M | -$2.508M | $1.327M |
YoY Change | 355.69% | 128.0% | -218.48% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 2.457M | -2.054M | 2.466M |
YoY Change | -0.36% | 0.2% | -86.25% |
NET CHANGE | |||
Cash From Operating Activities | 17.90M | -12.74M | -10.15M |
Cash From Investing Activities | 6.047M | -2.508M | 1.327M |
Cash From Financing Activities | 2.457M | -2.054M | 2.466M |
Net Change In Cash | 26.41M | -17.31M | -6.360M |
YoY Change | -515.19% | -26.95% | -110.26% |
FREE CASH FLOW | |||
Cash From Operating Activities | $17.90M | -$12.74M | -$10.15M |
Capital Expenditures | $7.010M | -$3.410M | $1.258M |
Free Cash Flow | $10.89M | -$9.334M | -$11.41M |
YoY Change | -195.45% | -51.99% | -124.65% |
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|
28899000 | USD | |
us-gaap |
Operating Expenses
OperatingExpenses
|
36754000 | USD | |
CY2022Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
31000 | USD |
CY2021Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2514000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
652000 | USD | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
2536000 | USD | |
CY2022Q2 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
3000 | USD |
CY2021Q2 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
1000 | USD |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
9000 | USD | |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
10000 | USD | |
CY2022Q2 | us-gaap |
Interest Expense
InterestExpense
|
848000 | USD |
CY2021Q2 | us-gaap |
Interest Expense
InterestExpense
|
619000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
2359000 | USD | |
us-gaap |
Interest Expense
InterestExpense
|
1913000 | USD | |
CY2022Q2 | us-gaap |
Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
|
2151000 | USD |
CY2021Q2 | us-gaap |
Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
|
153000 | USD |
us-gaap |
Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
|
1605000 | USD | |
us-gaap |
Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
|
-3990000 | USD | |
CY2022Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
1306000 | USD |
CY2021Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-465000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-745000 | USD | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-5893000 | USD | |
CY2022Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1337000 | USD |
CY2021Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-2979000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-93000 | USD | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-3357000 | USD | |
CY2022Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
11032000 | USD |
CY2021Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
6315000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
12070000 | USD | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
8124000 | USD | |
CY2022Q2 | us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
-9695000 | USD |
CY2021Q2 | us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
-9294000 | USD |
us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
-12163000 | USD | |
us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
-11481000 | USD | |
CY2022Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
39895000 | USD |
CY2021Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
-18335000 | USD |
us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
-108000 | USD | |
us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
-21895000 | USD | |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
30200000 | USD |
CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-27629000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-12271000 | USD | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-33376000 | USD | |
CY2022Q2 | us-gaap |
Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
|
537000 | USD |
CY2021Q2 | us-gaap |
Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
|
519000 | USD |
us-gaap |
Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
|
1611000 | USD | |
us-gaap |
Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
|
1586000 | USD | |
CY2022Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
29663000 | USD |
CY2021Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-28148000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-13882000 | USD | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-34962000 | USD | |
CY2022Q2 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.17 | |
CY2021Q2 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.16 | |
us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.23 | ||
us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.21 | ||
CY2022Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
0.67 | |
CY2021Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
-0.29 | |
us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
-0.00 | ||
us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
-0.35 | ||
CY2022Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.50 | |
CY2021Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.45 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.23 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.56 | ||
CY2022Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
59853000 | shares |
CY2022Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
59853000 | shares |
CY2021Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
62263000 | shares |
CY2021Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
62263000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
59961000 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
59961000 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
61898000 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
61898000 | shares | |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
30200000 | USD |
CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-27629000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-12271000 | USD | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-33376000 | USD | |
CY2022Q2 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-2461000 | USD |
CY2021Q2 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-112000 | USD |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-2276000 | USD | |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
5281000 | USD | |
CY2022Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-2461000 | USD |
CY2021Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-112000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-2276000 | USD | |
us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
5281000 | USD | |
CY2022Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
27739000 | USD |
CY2021Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-27741000 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-14547000 | USD | |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-28095000 | USD | |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-36740000 | USD |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
30200000 | USD |
CY2022Q2 | us-gaap |
Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
|
537000 | USD |
CY2022Q2 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
0 | USD |
CY2022Q2 | mlnk |
Stock Issued During Period Value Stock Options Exercised And Stock Purchase Plans
StockIssuedDuringPeriodValueStockOptionsExercisedAndStockPurchasePlans
|
0 | USD |
CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
111000 | USD |
CY2022Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-2461000 | USD |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-9427000 | USD |
CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
47747000 | USD |
CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-27629000 | USD |
CY2021Q2 | us-gaap |
Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
|
519000 | USD |
CY2021Q2 | us-gaap |
Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
|
0 | USD |
CY2021Q2 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
0 | USD |
CY2021Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
97000 | USD |
CY2021Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-112000 | USD |
CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
19584000 | USD |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6212000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-12271000 | USD | |
us-gaap |
Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
|
1611000 | USD | |
us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
0 | USD | |
mlnk |
Stock Issued During Period Value Stock Options Exercised And Stock Purchase Plans
StockIssuedDuringPeriodValueStockOptionsExercisedAndStockPurchasePlans
|
0 | USD | |
us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
519000 | USD | |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-2276000 | USD | |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-9427000 | USD |
CY2020Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
48818000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-33376000 | USD | |
us-gaap |
Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
|
1586000 | USD | |
us-gaap |
Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
|
4000 | USD | |
us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
0 | USD | |
us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
443000 | USD | |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
5281000 | USD | |
CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
19584000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-12271000 | USD | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-33376000 | USD | |
us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
-108000 | USD | |
us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
-21895000 | USD | |
us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
-12163000 | USD | |
us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
-11481000 | USD | |
us-gaap |
Depreciation
Depreciation
|
1698000 | USD | |
us-gaap |
Depreciation
Depreciation
|
2620000 | USD | |
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
102000 | USD | |
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
103000 | USD | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
1229000 | USD | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
930000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
519000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
443000 | USD | |
mlnk |
Non Cash Lease Expense
NonCashLeaseExpense
|
7083000 | USD | |
mlnk |
Non Cash Lease Expense
NonCashLeaseExpense
|
7505000 | USD | |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
66329000 | USD |
us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
1605000 | USD | |
us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-5605000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
8786000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-14247000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1291000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-1671000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-240000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-37000 | USD | |
mlnk |
Increase Decrease In Accounts Payable Accrued Restructuring And Accrued Expenses
IncreaseDecreaseInAccountsPayableAccruedRestructuringAndAccruedExpenses
|
2076000 | USD | |
mlnk |
Increase Decrease In Accounts Payable Accrued Restructuring And Accrued Expenses
IncreaseDecreaseInAccountsPayableAccruedRestructuringAndAccruedExpenses
|
-20556000 | USD | |
us-gaap |
Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
|
142000 | USD | |
us-gaap |
Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
|
11458000 | USD | |
us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
-5489000 | USD | |
us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
17545000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-5267000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-4963000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1142000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
902000 | USD | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
0 | USD | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
69000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-1142000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-833000 | USD | |
us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
1598000 | USD | |
us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
1586000 | USD | |
us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
54000 | USD | |
us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
52000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
4000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-1652000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-1634000 | USD | |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-774000 | USD | |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
746000 | USD | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-8835000 | USD | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-6684000 | USD | |
CY2020Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
77071000 | USD |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
57494000 | USD |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
70387000 | USD |
CY2022Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
49914000 | USD |
CY2021Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
61990000 | USD |
CY2022Q2 | us-gaap |
Funds Held For Clients
FundsHeldForClients
|
7580000 | USD |
CY2021Q2 | us-gaap |
Funds Held For Clients
FundsHeldForClients
|
8397000 | USD |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
57494000 | USD |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
70387000 | USD |
us-gaap |
Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
|
-6738000 | USD | |
us-gaap |
Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
|
25975000 | USD | |
us-gaap |
Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
|
625000 | USD | |
us-gaap |
Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
|
-1812000 | USD | |
us-gaap |
Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
|
4230000 | USD | |
us-gaap |
Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
|
-6142000 | USD | |
us-gaap |
Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
|
-1883000 | USD | |
us-gaap |
Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
|
18021000 | USD | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
NATURE OF OPERATIONS<div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Steel Connect, Inc., (the “Company”) is a holding company which operates through its wholly-owned subsidiary, ModusLink Corporation ("ModusLink" or "Supply Chain").</span></div><div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ModusLink Corporation provides digital and physical supply chain solutions to many of the world's leading brands across a diverse range of industries, including consumer electronics, telecommunications, computing and storage, software and content, consumer packaged goods, medical devices, retail and luxury and connected devices. With a global footprint spanning North America, Europe and the Asia Pacific, ModusLink’s solutions and services are designed to improve end-to-end supply chains in order to drive growth, lower costs, and improve profitability. </span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Disposition of IWCO Direct </span></div><div><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On February 25, 2022, the Company entered into a transaction agreement (the “Transaction Agreement”) with (a) IWCO Direct Holding Inc. (''IWCO Direct" or "Direct Marketing") and its indirect subsidiaries, (b) Cerberus Business Finance, LLC, in its capacities as collateral agent and administrative agent under a financing agreement (in such capacities, the “Agent”), dated as of December 15, 2017, between IWCO Direct, IWCO Direct’s direct and indirect subsidiaries, the Agent and the lenders party thereto (the “Lenders”) (the “Financing Agreement”), (c) the Lenders, (d) the Lenders or their respective designees listed on the signature pages to the Transaction Agreement under the caption “Participating Lender Purchasers” (the “Participating Lender Purchasers”), (e) SPH Group Holdings LLC (the “Sponsor”) and (f) Instant Web Holdings, LLC (the “Buyer”), an entity owned by the Participating Lender Purchasers. On the Effective Date (as defined in the Transaction Agreement) and pursuant to the terms of the Transaction Agreement, the Company transferred all of its interests in IWCO Direct to the Buyer as part of a negotiated restructuring of the capital structure and certain financial obligations of IWCO Direct under the Financing Agreement as contemplated by the Transaction Agreement. See Notes 2 and 4 for further details regarding the disposition of IWCO Direct.</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Liquidity and Capital Resources</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Historically, the Company has financed its operations and met its capital requirements primarily through funds generated from operations, the sale of its securities, borrowings from lending institutions and sale of facilities that were not fully utilized. The Company believes it has access to adequate resources to meet its needs for normal operating costs, capital expenditures and working capital for its existing business for at least twelve months from the date of this filing. </span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As of April 30, 2022, these resources include current cash and cash equivalents, and ModusLink's credit agreement with Umpqua Bank (the “Umpqua Revolver”), as lender and as agent. The Umpqua Revolver provides for a maximum credit commitment of $12.5 million and a sublimit of $5.0 million for letters of credit and expires on March 16, 2024. There was no balance outstanding on the Umpqua Revolver as of April 30, 2022. See Note 9 for further details regarding the Umpqua Revolver. </span></div><div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As of April 30, 2022 and July 31, 2021, the Company had cash and cash equivalents of $49.9 million and $58.1 million, respectively. As of April 30, 2022, the Company had a working capital surplus of $23.4 million. </span></div><div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Impact of COVID-19</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The ongoing COVID-19 pandemic (in particular, the emergence of new variants of the virus across the globe) has</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">caused, and continues to cause, significant disruptions in the U.S. and global economies. For example, national and local</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">governments in the United States and around the world continue to implement measures to prevent the spread of COVID-19</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">and its variants, including travel bans, prohibitions on group events and gatherings, shutdowns of certain businesses,</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">quarantines, curfews, and recommendations to practice physical distancing. Such measures have restricted and continue to restrict individuals’ daily activities and curtail or cease many businesses’ normal operations. The COVID-19 pandemic has adversely impacted, and is likely to further adversely impact, nearly all aspects of our business and markets, including our workforce and the operations of our clients, suppliers, and business partners. Beginning in March 2020, when the World Health Organization categorized COVID-19 as a pandemic and the President of the United States declared the COVID-19 outbreak a national emergency, we experienced impacts to our customers' demand, facility operations, supply chain, availability and productivity of personnel, while also working to comply with rapidly evolving international, federal, state and local restrictions and recommendations on travel and workplace health and safety. We experienced disruptions to our business continuity as a result of temporary closures of certain of ModusLink’s facilities in the third and fourth quarters of fiscal year 2020, as well as the fourth quarter of fiscal year 2021. However, these temporary closures did not have a significant impact on ModusLink’s operations. </span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">Recently, an outbreak in Mainland China forced temporary lockdown orders from March 14, 2022 to March 20, 2022 in several cities in which ModusLink operates. In April and May 2022, there were further temporary lockdown orders which impacted several ModusLink facilities in China; however, ModusLink was able to resume operations on May 5, 2022 at one site and at another site on May 31, 2022. As of the filing of this quarterly report on Form 10-Q, all of ModusLink’s facilities were open and operating at or near capacity. The lockdowns in China have not had a significant impact to ModusLink’s operations through the filing of this quarterly report on Form 10-Q. I</span><span style="background-color:#ffffff;color:#000000;font-family:'Times',sans-serif;font-size:10pt;font-weight:400;line-height:107%">f the situation continues at this level or worsens, however, it could result in a potential adverse impact on our business, results of operations and financial condition.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%"> We will evaluate further actions if circumstances warrant.</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Beginning in the second quarter of 2020, with the shutdown of the U.S. economy due to the COVID-19 pandemic, IWCO Direct’s business was also significantly and adversely affected by a material reduction in customer mailing activities. Additionally, although IWCO Direct operated as an essential business, it had reduced operating levels and labor shifts due to lower sales volume during the third quarter of fiscal year 2020.</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">To help combat these impacts and mitigate the financial impact of the COVID-19 pandemic on our business, during fiscal year 2020 we took proactive measures by initiating cost reduction actions, including the waiver of board fees, hiring freezes, staffing and force reductions, company-wide salary reductions, bonus payment deferrals and temporary 401(k) match suspension. The temporary waiver of board fees and company-wide salary reduction actions taken in the prior fiscal year were fully restored prior to the beginning of fiscal year 2021, and the majority of salary reductions were repaid prior to the fiscal quarter ended January 31, 2021. </span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Additionally, against the backdrop of the reduction in IWCO Direct's business, the Company held extensive discussions with Cerberus about amending and extending IWCO Direct’s credit facility with Cerberus under which there was approximately $361.3 million outstanding as of January 31, 2022 that was to mature in December 2022. These discussions ultimately resulted in the disposition of IWCO Direct. For more information, see “Disposition of IWCO Direct” above and Notes 2 and 4 below. We continue our focus on cash management and liquidity, which includes aggressive working capital management.</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We continue to closely monitor the impact of COVID-19 on all aspects of our business and geographies, including its impact on our clients, employees, suppliers, vendors, business partners and distribution channels. We believe that such impacts could include, the continued disruption to the demand for our businesses' products and services; disruptions in or closures of our business operations or those of our customers or suppliers; the impact of the global business and economic environment on liquidity and the availability of capital; increased costs and delays in payments of outstanding receivables beyond normal payment terms; supply chain disruptions; uncertain demand; and the effect of any initiatives or programs that we may undertake to address financial and operational challenges faced by our customers. Despite indications of economic recovery, the severity of the impact of the COVID-19 pandemic on the Company’s business in the fiscal year ending July 31, 2022 and beyond is difficult to predict and will depend on a number of uncertain factors and trends. Such factors and trends include, but are not limited to: the duration and severity of the virus and its current variants; the emergence of new variant strains; the availability and widespread use of vaccines; the impact of the global business and economic environment on liquidity and the availability of capital; the extent and severity of the impact on our customers and suppliers; and U.S. and foreign government actions that have been taken, or may be taken in the future, to mitigate adverse economic or other impacts or to mitigate the spread of the virus and its variants. The Company continues to monitor for any developments or updates to COVID-19 guidelines from public health and governmental authorities, as well as the protection of the health and safety of its personnel, and is continuously working to ensure that its health and safety protocols, business continuity plans and crisis management protocols are in place to help mitigate any negative impacts of the COVID-19 pandemic on the Company’s employees, business or operations. </span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Proposed Merger with Steel Holdings</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On November 19, 2020, the Company's Board of Directors (the "Board") received a preliminary, non-binding expression of interest (the "Expression of Interest") from Steel Partners Holdings L.P. ("Steel Holdings") to acquire all of the outstanding shares of common stock not already owned by Steel Holdings or its affiliates for a combination of cash and Steel Holdings 6% Series A Preferred Units, which would imply a value per share of common stock in the range of $0.65 to $0.72 per share. The Board has established a special committee comprised solely of independent directors (the "Acquisition Proposal Special Committee") authorized to retain independent legal and financial advisors and to review, evaluate, negotiate and approve or disapprove the Expression of Interest, and to explore alternative strategies or transactions. The Acquisition Proposal Special Committee announced on January 11, 2021 that it had retained financial advisors and legal counsel. As set forth in the Expression of Interest, the proposed transaction will be subject to the approval of the Acquisition Proposal Special Committee, as well as a non-waivable condition requiring approval of a majority of the outstanding shares of common stock of the Company not owned by Steel Holdings and its affiliates and related parties. The Board resolutions establishing the Acquisition Proposal Special Committee expressly provide that the Board will not approve the proposed transaction contemplated by the Expression of Interest or any alternative thereto without a prior favorable recommendation by the Acquisition Proposal Special Committee.</span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On March 24, 2022, Steel Holdings delivered a revised expression of interest to acquire all of the outstanding shares of common stock not already owned by Steel Holdings or its affiliates (the “Enhanced Proposal”) to the Acquisition Proposal Special Committee, which altered and increased the consideration proposed in its November 19, 2020 proposal. Under the Enhanced Proposal, the stockholders of the Company would receive cash consideration of $1.30 per share, representing a premium of approximately 10% over the closing price of the Company’s common stock on March 23, 2022 and about an 83% premium over the closing share price on November 18, 2020.</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On May 27, 2022, Steel Holdings communicated a further revised expression of interest (the “Further Enhanced Proposal”) to the Acquisition Proposal Special Committee, which altered and increased the consideration proposed in the Enhanced Proposal. Under the Further Enhanced Proposal, the stockholders of the Company would receive both (a) cash consideration of $1.35 per share, representing a premium of approximately 12.5% over the closing price of the Company’s common stock on May 31, 2022 and a premium of approximately 92.8% over the closing share price of the Company’s common stock on November 18, 2020, and (b) a contingent value right to receive their pro rata share of proceeds, to the extent such proceeds exceed $80 million, if ModusLink were to be sold during the 2 years period following completion of the proposed combination of Steel Holdings and the Company.</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On June 12, 2022, the Company, Steel Holdings and SP Merger Sub, Inc., a wholly-owned subsidiary of Steel Holdings (“Merger Sub”), entered into an agreement and plan of merger (the “Merger Agreement”), pursuant to which Merger Sub will merge with and into the Company (the “Merger”), with the Company surviving the Merger as a wholly-owned subsidiary of Steel Holdings. The Merger Agreement provides that each share of the Company’s common stock issued and outstanding immediately prior to the effective time of the Merger (other than dissenting shares and shares owned by the Company, Steel Holdings or any of their respective subsidiaries) will, subject to the terms and conditions set forth in the Merger Agreement, be converted into the right to receive (i) $1.35 in cash, without interest and (ii) one contingent value right to receive a pro rata share of the proceeds received by the Company, Steel Holdings or any of their affiliates with respect to the sale, transfer or other disposition of all or any portion of the assets currently owned by ModusLink within 2 years of the Merger’s closing date, to the extent such proceeds exceed $80 million plus certain related costs and expenses. Steel Holdings and certain of its affiliates have also entered into a Voting and Support Agreement pursuant to which, among other things, they have agreed to vote all shares of common stock and Series C Preferred Stock beneficially owned by them in favor of the adoption of the Merger Agreement and the Merger and any alternative acquisition agreement approved by the Company's board of directors (acting on the recommendation of the Special Committee).</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Merger Agreement includes a "go-shop" period that expires at 11:59 p.m. Eastern time on July 12, 2022, during which the Company may actively solicit and consider alternative acquisition proposals. </span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The closing of the Merger is conditioned upon receipt of approval of the Merger from (i) the holders of a majority in voting power of the outstanding shares of common stock and Series C Preferred Stock of the Company (voting on an as converted to shares of common stock basis), voting together as a single class, (ii) a majority of the outstanding shares of common stock of the Company not owned, directly or indirectly, by Steel Holdings and its affiliates and related parties, and any other officers or directors of the Company and (iii) the holders of a majority of the outstanding shares of Series C Preferred Stock of the Company, voting as a separate class, as well as other customary closing conditions. Accordingly, there can be no assurance that the Company will be able to complete the Merger on the expected timeline or at all. See “Part II, Item 1A. Risk Factors” included in this quarterly report on Form 10-Q.</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The board of directors of the Company (the “Company Board”), acting on the unanimous recommendation of the special committee of the Company Board (the “Special Committee”), and the Board of Directors of Steel Partner Holdings GP Inc., the general partner of Steel Holdings, approved the Merger Agreement and the transactions contemplated by the Merger Agreement (such transactions, collectively, the “Transactions”) and resolved to recommend the stockholders adopt the Merger Agreement and approve the Transactions. The Special Committee, which is comprised solely of independent and disinterested directors of the Company who are unaffiliated with Steel Holdings, exclusively negotiated the terms of the Merger Agreement with Steel Holdings, with the assistance of its independent financial and legal advisors.</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Subject to the satisfaction of all of the conditions to closing, including the receipt of the separate stockholder approvals, the Merger is expected to close in the second half of 2022.</span></div> | ||
CY2022Q2 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
49900000 | USD |
CY2021Q3 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
58100000 | USD |
CY2022Q2 | mlnk |
Working Capital Increase Deficit
WorkingCapitalIncreaseDeficit
|
-23400000 | USD |
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
BASIS OF PRESENTATIONThe accompanying condensed consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of a normal recurring nature) considered necessary for fair presentation have been included. These <div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and related notes for the year ended July 31, 2021 (Fiscal Year 2021), which are contained in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on October 29, 2021, as amended on November 30, 2021 (the "2021 Annual Report'). The results for the nine months ended April 30, 2022 are not necessarily indicative of the results to be expected for the full fiscal year. The year-end condensed consolidated balance sheet data was derived from audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP.</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">All significant intercompany transactions and balances have been eliminated in consolidation.</span></div><div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company considers events or transactions that occur after the balance sheet date but before the issuance of financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. For the nine months ended April 30, 2022, the Company evaluated subsequent events for potential recognition and disclosure through the date these financial statements were filed.</span></div><div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Discontinued operations</span></div><div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">As discussed in Note 1, on February 25, 2022, the Company completed its disposition of IWCO Direct. The results of IWCO Direct are reclassified as discontinued operations for all periods presented. Additionally, the related assets and liabilities associated with the discontinued operations in the prior year condensed consolidated balance sheet are classified as discontinued operations.</span></div><div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">All references made to financial data in this quarterly report on Form 10-Q are to the Company's continuing operations, unless otherwise specifically noted.</span></div><div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Reclassification</span></div><div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On the statement of cash flows for the nine months ended April 30, 2021, the Company reclassified the non-cash portion of lease expense which totaled $7.5 million from Other Assets and Liabilities to Non-cash Lease Expense. This reclassification was made to prior year balances to conform with current reporting and had no impact on net loss or stockholder's equity.</span></div> | ||
us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Reclassification</span></div><div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On the statement of cash flows for the nine months ended April 30, 2021, the Company reclassified the non-cash portion of lease expense which totaled $7.5 million from Other Assets and Liabilities to Non-cash Lease Expense. This reclassification was made to prior year balances to conform with current reporting and had no impact on net loss or stockholder's equity.</span></div> | ||
CY2022Q1 | us-gaap |
Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
|
0 | USD |
CY2022Q1 | mlnk |
Disposal Groups Including Discontinued Operations Notes Receivable From Divestiture Of Business
DisposalGroupsIncludingDiscontinuedOperationsNotesReceivableFromDivestitureOfBusiness
|
6900000 | USD |
CY2022Q1 | us-gaap |
Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
|
0 | USD |
CY2021Q2 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
25658000 | USD |
CY2022Q2 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
8709000 | USD |
CY2021Q3 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
8299000 | USD |
CY2022Q2 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
237000 | USD |
CY2021Q3 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
76000 | USD |
CY2022Q2 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
891000 | USD |
CY2021Q3 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
668000 | USD |
CY2022Q2 | us-gaap |
Inventory Net
InventoryNet
|
9837000 | USD |
CY2021Q3 | us-gaap |
Inventory Net
InventoryNet
|
9043000 | USD |
CY2022Q2 | mlnk |
Accrued Taxes
AccruedTaxes
|
3631000 | USD |
CY2021Q3 | mlnk |
Accrued Taxes
AccruedTaxes
|
3686000 | USD |
CY2022Q2 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
6444000 | USD |
CY2021Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
7163000 | USD |
CY2022Q2 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
2753000 | USD |
CY2021Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
3147000 | USD |
CY2022Q2 | mlnk |
Accrued Contract Labor Current
AccruedContractLaborCurrent
|
939000 | USD |
CY2021Q3 | mlnk |
Accrued Contract Labor Current
AccruedContractLaborCurrent
|
930000 | USD |
CY2022Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
15639000 | USD |
CY2021Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
17727000 | USD |
CY2022Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
29406000 | USD |
CY2021Q3 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
32653000 | USD |
CY2022Q2 | mlnk |
Accrued Pricing Liabilities Current
AccruedPricingLiabilitiesCurrent
|
10295000 | USD |
CY2021Q3 | mlnk |
Accrued Pricing Liabilities Current
AccruedPricingLiabilitiesCurrent
|
10295000 | USD |
CY2022Q2 | us-gaap |
Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
|
4913000 | USD |
CY2021Q3 | us-gaap |
Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
|
3969000 | USD |
CY2022Q2 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
15208000 | USD |
CY2021Q3 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
14264000 | USD |
CY2021Q3 | mlnk |
Accrued Pricing Liabilities Current
AccruedPricingLiabilitiesCurrent
|
10300000 | USD |
CY2022Q2 | mlnk |
Accrued Pricing Liabilities Current
AccruedPricingLiabilitiesCurrent
|
10300000 | USD |
CY2022Q2 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
2596000 | USD |
CY2021Q2 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
2601000 | USD |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
7569000 | USD | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
7963000 | USD | |
CY2022Q2 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
482000 | USD |
CY2021Q2 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
451000 | USD |
us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
1221000 | USD | |
us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
1254000 | USD | |
CY2022Q2 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
4000 | USD |
CY2021Q2 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
-9000 | USD |
us-gaap |
Variable Lease Cost
VariableLeaseCost
|
20000 | USD | |
us-gaap |
Variable Lease Cost
VariableLeaseCost
|
10000 | USD | |
CY2022Q2 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
1000 | USD |
CY2021Q2 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
1000 | USD |
us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
2000 | USD | |
us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
4000 | USD | |
CY2022Q2 | us-gaap |
Lease Cost
LeaseCost
|
3083000 | USD |
CY2021Q2 | us-gaap |
Lease Cost
LeaseCost
|
3044000 | USD |
us-gaap |
Lease Cost
LeaseCost
|
8812000 | USD | |
us-gaap |
Lease Cost
LeaseCost
|
9231000 | USD | |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
7450000 | USD | |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
8001000 | USD | |
us-gaap |
Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
|
2000 | USD | |
us-gaap |
Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
|
4000 | USD | |
us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
54000 | USD | |
us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
52000 | USD | |
CY2022Q2 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
4459000 | USD |
CY2021Q3 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
5793000 | USD |
CY2022Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
10481000 | USD |
CY2021Q3 | us-gaap |
Long Term Debt
LongTermDebt
|
9147000 | USD |
CY2022Q2 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
91000 | USD |
CY2021Q3 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
196000 | USD |
CY2022Q2 | us-gaap |
Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
|
0.278 | |
CY2022Q2 | us-gaap |
Debt Instrument Convertible Carrying Amount Of The Equity Component
DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent
|
8200000 | USD |
CY2021Q3 | us-gaap |
Debt Instrument Convertible Carrying Amount Of The Equity Component
DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent
|
8200000 | USD |
CY2022Q2 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
706000 | USD |
CY2021Q2 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
600000 | USD |
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
2078000 | USD | |
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
1503000 | USD | |
CY2022Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
51548000 | USD |
CY2021Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
49434000 | USD |
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
150223000 | USD | |
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
178552000 | USD | |
CY2022Q2 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
498000 | USD |
CY2021Q3 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
627000 | USD |
CY2022Q2 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
3099000 | USD |
CY2021Q3 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
2212000 | USD |
CY2022Q2 | us-gaap |
Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
|
130000 | USD |
CY2021Q3 | us-gaap |
Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
|
108000 | USD |
CY2022Q2 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
3229000 | USD |
CY2021Q3 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
2320000 | USD |
CY2021Q3 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
2320000 | USD |
CY2020Q3 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
2464000 | USD |
mlnk |
Contract With Customer Liability Increase From Cash Receipts
ContractWithCustomerLiabilityIncreaseFromCashReceipts
|
2049000 | USD | |
mlnk |
Contract With Customer Liability Increase From Cash Receipts
ContractWithCustomerLiabilityIncreaseFromCashReceipts
|
1959000 | USD | |
mlnk |
Contract With Customer Liability Including New Contract Revenue Recognized
ContractWithCustomerLiabilityIncludingNewContractRevenueRecognized
|
1140000 | USD | |
mlnk |
Contract With Customer Liability Including New Contract Revenue Recognized
ContractWithCustomerLiabilityIncludingNewContractRevenueRecognized
|
1924000 | USD | |
CY2022Q2 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
3229000 | USD |
CY2021Q2 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
2499000 | USD |
CY2022Q2 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
3100000 | USD |
CY2022Q2 | us-gaap |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
|
P12M | |
CY2022Q2 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
100000 | USD |
CY2022Q2 | us-gaap |
Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
|
4700000 | USD |
us-gaap |
Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
|
3900000 | USD | |
CY2022Q2 | mlnk |
Unrecognized Tax Benefits Including Interest
UnrecognizedTaxBenefitsIncludingInterest
|
800000 | USD |
CY2021Q3 | mlnk |
Unrecognized Tax Benefits Including Interest
UnrecognizedTaxBenefitsIncludingInterest
|
700000 | USD |
CY2022Q2 | us-gaap |
Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
|
100000 | USD |
CY2021Q3 | us-gaap |
Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
|
100000 | USD |
CY2022Q2 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
|
100000 | USD |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
30200000 | USD |
CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-27629000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-12271000 | USD | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-33376000 | USD | |
CY2022Q2 | us-gaap |
Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
|
537000 | USD |
CY2021Q2 | us-gaap |
Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
|
519000 | USD |
us-gaap |
Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
|
1611000 | USD | |
us-gaap |
Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
|
1586000 | USD | |
CY2022Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
29663000 | USD |
CY2021Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-28148000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-13882000 | USD | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-34962000 | USD | |
CY2022Q2 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-10232000 | USD |
CY2021Q2 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-9813000 | USD |
us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-13774000 | USD | |
us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-13067000 | USD | |
CY2022Q2 | mlnk |
Income Loss From Discontinued Operations And Deconsolidation Gain Loss Net Of Tax
IncomeLossFromDiscontinuedOperationsAndDeconsolidationGainLossNetOfTax
|
39895000 | USD |
CY2021Q2 | mlnk |
Income Loss From Discontinued Operations And Deconsolidation Gain Loss Net Of Tax
IncomeLossFromDiscontinuedOperationsAndDeconsolidationGainLossNetOfTax
|
-18335000 | USD |
mlnk |
Income Loss From Discontinued Operations And Deconsolidation Gain Loss Net Of Tax
IncomeLossFromDiscontinuedOperationsAndDeconsolidationGainLossNetOfTax
|
-108000 | USD | |
mlnk |
Income Loss From Discontinued Operations And Deconsolidation Gain Loss Net Of Tax
IncomeLossFromDiscontinuedOperationsAndDeconsolidationGainLossNetOfTax
|
-21895000 | USD | |
CY2022Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
29663000 | USD |
CY2021Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-28148000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-13882000 | USD | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-34962000 | USD | |
CY2022Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
59853000 | shares |
CY2021Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
62263000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
59961000 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
61898000 | shares | |
CY2022Q2 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.17 | |
CY2021Q2 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.16 | |
us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.23 | ||
us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.21 | ||
CY2022Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
0.67 | |
CY2021Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
-0.29 | |
us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
0 | ||
us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
-0.35 | ||
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
150223000 | USD | |
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
178552000 | USD | |
CY2021Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
49434000 | USD |
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
150223000 | USD | |
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
178552000 | USD | |
CY2022Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
31000 | USD |
CY2021Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2514000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
652000 | USD | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
2536000 | USD | |
CY2022Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
1306000 | USD |
CY2021Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-465000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-745000 | USD | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-5893000 | USD | |
CY2022Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1337000 | USD |
CY2021Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-2979000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-93000 | USD | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-3357000 | USD | |
CY2022Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
51548000 | USD |
CY2021Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
49434000 | USD |
CY2022Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.50 | |
CY2021Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.45 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.23 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.56 | ||
CY2022Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
24200000 | shares |
CY2021Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
24200000 | shares |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
24200000 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
24300000 | shares | |
us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | segment | |
CY2022Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
51548000 | USD |