2022 Q4 Form 20-F Financial Statement

#000110465923053170 Filed on April 28, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021 Q4
Revenue $301.5M $1.011B $0.00
YoY Change
Cost Of Revenue $111.6M $363.1M $78.13M
YoY Change 42.83% 61.61%
Gross Profit $189.9M $648.0M $145.8M
YoY Change 30.2% 54.76%
Gross Profit Margin 62.99% 64.09%
Selling, General & Admin $292.4M $985.5M $217.0M
YoY Change 34.7% 56.38%
% of Gross Profit 153.96% 152.09% 148.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $133.4M $133.4M $74.28M
YoY Change 79.6% 79.6%
% of Gross Profit 70.25% 20.59% 50.93%
Operating Expenses $319.5M $1.213B $1.520M
YoY Change 20920.94% 17514.1%
Operating Profit -$129.6M -$581.2M $144.3M
YoY Change -189.8% -241.13%
Interest Expense -$91.52M $14.80M -$4.320K
YoY Change 2118362.96% 14062.44%
% of Operating Profit 0.0%
Other Income/Expense, Net $35.95M $8.340M $1.276M
YoY Change 2717.41% 45.76%
Pretax Income -$222.9M -$744.7M -$248.1K
YoY Change 89723.58% 70101.65%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$223.9M -$742.6M -$248.1K
YoY Change 90121.75% 69903.42%
Net Earnings / Revenue -74.26% -73.45%
Basic Earnings Per Share -$5.80
Diluted Earnings Per Share -$3.34 -$5.80 -$5.752K
COMMON SHARES
Basic Shares Outstanding 149.2M 128.1M
Diluted Shares Outstanding 128.1M

Balance Sheet

Concept 2022 Q4 2022 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $611.5M $611.5M $376.0K
YoY Change 162524.84% 162524.84%
Cash & Equivalents $239.1M $376.0K
Short-Term Investments $372.4M $372.4M
Other Short-Term Assets $13.34M $28.39M $43.34K
YoY Change 30683.27% 65409.46%
Inventory $71.47M $71.47M $42.48M
Prepaid Expenses 11.58M cnies
Receivables $5.617M $5.617M $9.817M
Other Receivables $79.88M $79.88M $67.91M
Total Short-Term Assets $796.8M $796.8M $419.3K
YoY Change 189920.41% 189920.41%
LONG-TERM ASSETS
Property, Plant & Equipment $720.0M $1.667B $554.0M
YoY Change 29.97% 200.88%
Goodwill
YoY Change
Intangibles $96.02M $77.59M
YoY Change 23.75%
Long-Term Investments $345.1M
YoY Change
Other Assets $82.27M $82.27M $67.31M
YoY Change 22.22% 22.22%
Total Long-Term Assets $1.845B $1.845B $345.1M
YoY Change 434.68% 434.68%
TOTAL ASSETS
Total Short-Term Assets $796.8M $796.8M $419.3K
Total Long-Term Assets $1.845B $1.845B $345.1M
Total Assets $2.642B $2.642B $345.5M
YoY Change 664.64% 664.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $105.7M $114.8M $69.16M
YoY Change 52.8% 65.93%
Accrued Expenses $323.9M $323.9M $5.002M
YoY Change 6374.97% 6374.97%
Deferred Revenue $22.12M $14.13M
YoY Change 56.57%
Short-Term Debt $386.8M $386.8M $0.00
YoY Change
Long-Term Debt Due $20.99M $20.99M $3.096M
YoY Change 577.89% 577.89%
Total Short-Term Liabilities $1.318B $1.318B $5.002M
YoY Change 26255.81% 26255.81%
LONG-TERM LIABILITIES
Long-Term Debt $362.9M $362.9M $0.00
YoY Change
Other Long-Term Liabilities $7.920M $850.6M $15.98M
YoY Change -50.45% 5221.71%
Total Long-Term Liabilities $1.213B $1.213B $15.98M
YoY Change 7492.14% 7492.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.318B $1.318B $5.002M
Total Long-Term Liabilities $1.213B $1.213B $15.98M
Total Liabilities $2.532B $2.533B $33.06M
YoY Change 7557.99% 7562.39%
SHAREHOLDERS EQUITY
Retained Earnings -$1.380B -$637.5M
YoY Change 116.46%
Common Stock $8.616K $7.497K
YoY Change 14.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $8.243M $0.00
Shareholders Equity $108.9M $108.9M $312.5M
YoY Change
Total Liabilities & Shareholders Equity $2.642B $2.642B $345.5M
YoY Change 664.64% 664.64%

Cashflow Statement

Concept 2022 Q4 2022 2021 Q4
OPERATING ACTIVITIES
Net Income -$223.9M -$742.6M -$248.1K
YoY Change 90121.75% 69903.42%
Depreciation, Depletion And Amortization $133.4M $133.4M $74.28M
YoY Change 79.6% 79.6%
Cash From Operating Activities -$96.10M -$287.0M -$200.6K
YoY Change 47807.46% 26412.21%
INVESTING ACTIVITIES
Capital Expenditures $334.9M $334.9M -$335.3M
YoY Change -199.88% -199.88%
Acquisitions
YoY Change
Other Investing Activities $241.2M -$370.2M $0.00
YoY Change 7.32%
Cash From Investing Activities -$93.74M -$705.2M $0.00
YoY Change 104.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 37.08M 827.2M 0.000
YoY Change 138.75%
NET CHANGE
Cash From Operating Activities -96.10M -287.0M -200.6K
Cash From Investing Activities -93.74M -705.2M 0.000
Cash From Financing Activities 37.08M 827.2M 0.000
Net Change In Cash -152.8M -151.8M -200.6K
YoY Change 76051.07% -40462.76%
FREE CASH FLOW
Cash From Operating Activities -$96.10M -$287.0M -$200.6K
Capital Expenditures $334.9M $334.9M -$335.3M
Free Cash Flow -$431.0M -$621.9M $335.1M
YoY Change -228.62% -286.08%

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-1.33
CY2022 us-gaap Profit Loss
ProfitLoss
-744748251
CY2021 us-gaap Profit Loss
ProfitLoss
-382929166
CY2020 us-gaap Profit Loss
ProfitLoss
-143060167
CY2022 thch Fair Value Changes Of Convertible Notes Due To Instrument Specific Credit Risk Net Of Income Taxes
FairValueChangesOfConvertibleNotesDueToInstrumentSpecificCreditRiskNetOfIncomeTaxes
0
CY2022 thch Fair Value Changes Of Convertible Notes Due To Instrument Specific Credit Risk Net Of Nil Income Taxes
FairValueChangesOfConvertibleNotesDueToInstrumentSpecificCreditRiskNetOfNilIncomeTaxes
-1520393
CY2021 thch Fair Value Changes Of Convertible Notes Due To Instrument Specific Credit Risk Net Of Nil Income Taxes
FairValueChangesOfConvertibleNotesDueToInstrumentSpecificCreditRiskNetOfNilIncomeTaxes
-548029
CY2022 thch Unrealized Gain Loss On Investments Net Of Tax
UnrealizedGainLossOnInvestmentsNetOfTax
0
CY2022 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
2133528
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-19356001
CY2021 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2889641
CY2020 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2788426
CY2021 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-386366836
CY2020 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-140271741
CY2022 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-2103019
CY2021 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-1208147
CY2020 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-1060660
CY2022 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-761388098
CY2021 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-385158689
CY2020 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-139211081
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
372591692
CY2020 us-gaap Profit Loss
ProfitLoss
-143060167
CY2020 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2788426
CY2020 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
10089101
CY2020 thch Settlement Of Subscription Receivable
SettlementOfSubscriptionReceivable
190643198
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
433052250
CY2021 us-gaap Profit Loss
ProfitLoss
-382929166
CY2021 thch Fair Value Changes Of Convertible Notes Due To Instrument Specific Credit Risk Net Of Nil Income Taxes
FairValueChangesOfConvertibleNotesDueToInstrumentSpecificCreditRiskNetOfNilIncomeTaxes
-548029
CY2021 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2889641
CY2021 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
292409622
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
339095036
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
339095036
CY2022 us-gaap Profit Loss
ProfitLoss
-744748251
CY2022 thch Fair Value Changes Of Convertible Notes Due To Instrument Specific Credit Risk Net Of Income Taxes
FairValueChangesOfConvertibleNotesDueToInstrumentSpecificCreditRiskNetOfIncomeTaxes
0
CY2022 thch Fair Value Changes Of Convertible Notes Due To Instrument Specific Credit Risk Net Of Nil Income Taxes
FairValueChangesOfConvertibleNotesDueToInstrumentSpecificCreditRiskNetOfNilIncomeTaxes
-1520393
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-19356001
CY2022 thch Unrealized Gain Loss On Investments Net Of Tax
UnrealizedGainLossOnInvestmentsNetOfTax
0
CY2022 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
2133528
CY2022 thch Transaction Cost
TransactionCost
-85728299
CY2022 thch Equity Financing Through Merger Transaction Amount
EquityFinancingThroughMergerTransactionAmount
-37625194
CY2022 thch Equity Financing Through Pipe Transaction Amount
EquityFinancingThroughPipeTransactionAmount
312871512
CY2022 thch Equity Financing Through Esa Transaction Amount
EquityFinancingThroughEsaTransactionAmount
267362320
CY2022 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
1777675
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
44421298
CY2022 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
21656700
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
110304416
CY2022 us-gaap Profit Loss
ProfitLoss
-744748251
CY2021 us-gaap Profit Loss
ProfitLoss
-382929166
CY2020 us-gaap Profit Loss
ProfitLoss
-143060167
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
133402504
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
74276142
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
27838383
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-8835137
CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1546122
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
387999
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2356034
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
7222765
CY2021 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
1001880
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
74686711
CY2022 thch Foreign Currency Transaction Gain Loss Before Tax1
ForeignCurrencyTransactionGainLossBeforeTax1
-2369080
CY2021 thch Foreign Currency Transaction Gain Loss Before Tax1
ForeignCurrencyTransactionGainLossBeforeTax1
-827068
CY2020 thch Foreign Currency Transaction Gain Loss Before Tax1
ForeignCurrencyTransactionGainLossBeforeTax1
-2399162
CY2022 thch Changes In Fair Value Of Convertible Notes
ChangesInFairValueOfConvertibleNotes
4493605
CY2022 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-45903468
CY2022 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-186598308
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1844063
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1839140
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4804658
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
29376113
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
31174705
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
5570406
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-16088529
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
36203431
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
36698790
CY2022 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
14959136
CY2021 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
35499307
CY2020 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
22108155
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
44720900
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
45555721
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
7709469
CY2022 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
8411048
CY2021 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
4083764
CY2020 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
2883159
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
10333684
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
11705026
CY2020 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-657361
CY2022 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
35009222
CY2021 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
69469317
CY2020 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
13565385
CY2022 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-39247754
CY2021 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
28637700
CY2020 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
12731146
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
50546769
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-286928364
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-244966008
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-145772833
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
334930178
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
335318355
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
144747183
CY2022 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
370242173
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
41000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-705172351
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-335277355
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-144747183
CY2021 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
312092172
CY2022 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
707579122
CY2021 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
209258775
CY2022 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
494930388
CY2021 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
5300000
CY2022 thch Payment Of Offering Costs
PaymentOfOfferingCosts
81688831
CY2021 thch Payment Of Offering Costs
PaymentOfOfferingCosts
9310208
CY2022 thch Proceeds From Merger Transaction
ProceedsFromMergerTransaction
24237896
CY2022 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
316426861
CY2022 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
355535000
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
136000
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
291393000
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
222844800
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
827159660
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
797997739
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
221124998
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13181099
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1790729
CY2020 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-16173085
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-151759956
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
215963647
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-85568103
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
390837386
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
174873739
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
260441842
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
239077430
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
390837386
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
174873739
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
13678165
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1481293
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
139578631
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
172981034
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
67893359
CY2022 thch Issuance Of Ordinary Shares To Settle Bonus Payable
IssuanceOfOrdinarySharesToSettleBonusPayable
1355772
CY2021 thch Issuance Of Ordinary Shares To Settle Bonus Payable
IssuanceOfOrdinarySharesToSettleBonusPayable
1016622
CY2022 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
4039468
CY2021 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
9164827
CY2022 thch Master Development Agreement Initial Contractual Term
MasterDevelopmentAgreementInitialContractualTerm
P20Y
CY2022 thch Master Development Agreement Extension Term
MasterDevelopmentAgreementExtensionTerm
P10Y
CY2022 thch Number Of Horton Stores
NumberOfHortonStores
617
CY2022Q4 thch Number Of Shares Committed To Issue
NumberOfSharesCommittedToIssue
14000000
CY2022Q3 thch Earn In Shares Expiration Term
EarnInSharesExpirationTerm
P5Y
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Mark To Market
AdjustmentsToAdditionalPaidInCapitalMarkToMarket
59000000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Mark To Market
AdjustmentsToAdditionalPaidInCapitalMarkToMarket
419531300
CY2022 thch Cash Acquired From Merger Transaction And Related Financing Transactions
CashAcquiredFromMergerTransactionAndRelatedFinancingTransactions
3408651
CY2022 thch Cash Acquired From Merger Transaction And Related Financing Transactions
CashAcquiredFromMergerTransactionAndRelatedFinancingTransactions
24237896
CY2022Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
8700000
CY2022Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
61863090
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
390837386
CY2022 us-gaap Profit Loss
ProfitLoss
-745000000
CY2021 us-gaap Profit Loss
ProfitLoss
-383000000
CY2020 us-gaap Profit Loss
ProfitLoss
-143000000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-287000000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1380000000
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 36pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 36pt;">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions including incremental borrowing rate, fair value of long-lived assets, share-based compensation arrangements, earn-in shares, earn-out shares, liability-settled share-based payment to non-employee, ESA derivative liabilities, warrant liabilities and convertible notes.</p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 36pt;">Risks and Concentration</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Foreign exchange risk</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 36pt;">As the Company’s principal activities are carried out in PRC, the Company’s transactions are mainly denominated in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions involving RMB must take place through the People’ Bank of China or other institutions authorized to buy and sell foreign exchange. The exchange rates adopted for the foreign exchange transactions are the rates of exchange quoted by the People’ Bank of China that are determined largely by supply and demand.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 36pt;">The management does not expect that there will be any significant currency risk for the Company during the reporting periods.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Concentration of credit risk</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 36pt;">The Company’s credit risk primarily arises from cash, short-term investment, prepaid expenses and other current assets and accounts receivable. The bank deposits, including term deposits, with financial institutions in the mainland of the PRC and Hong Kong Special Administrative Region (“HKSAR”) are insured by the government authorities up to RMB500,000 and HKD500,000, respectively. Total bank deposits are insured by the government authority with amounts up to RMB11,631,710 and RMB7,266,814 as of December 31, 2022 and December 31, 2021, respectively.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 36pt;">The Company expects that there is no significant credit risk associated with the cash and short-term investment which are held by reputable financial institutions. The Company believes that it is not exposed to unusual risks as these financial institutions have high credit quality.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 36pt;">The Company has no significant concentrations of credit risk with respect to its prepaid expenses and other current assets.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 36pt;">Accounts receivable are unsecured and are primarily derived from revenue earned from sub-franchisees. The risk with respect to accounts receivable is mitigated by credit evaluations performed on them.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 36pt;"><span style="font-style:normal;font-weight:normal;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Concentration of operating risk</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 36pt;">The Company owns, operates and franchises stores in the PRC, including Hong Kong and Macau under the “Tim Hortons” brand. Such business activities are solely dependent upon its master development agreement with THRI. The Company’s failure to comply its master development agreement with THRI would have a material adverse effect on its financial condition, results of operations, and cash flows.</p>
CY2022Q4 us-gaap Deposit Assets
DepositAssets
11631710
CY2021Q4 us-gaap Deposit Assets
DepositAssets
7266814
CY2022Q4 us-gaap Cash
Cash
212598
CY2021Q4 us-gaap Cash
Cash
132127
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
239077430
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2360000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2022 thch Delivery Costs Incurred
DeliveryCostsIncurred
73615391
CY2021 thch Delivery Costs Incurred
DeliveryCostsIncurred
38604864
CY2020 thch Delivery Costs Incurred
DeliveryCostsIncurred
12232737
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
7222765
CY2021 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
1001880
CY2020 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
87557303
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
60189806
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
10441439
CY2020 thch Exemptions To Social Insurance Covid19
ExemptionsToSocialInsuranceCOVID19
10518612
CY2021Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
18475035
CY2022 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
81017100
CY2021 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
50316856
CY2020 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
16986023
CY2021Q4 thch Receivables From Payment Processors And Aggregators Current
ReceivablesFromPaymentProcessorsAndAggregatorsCurrent
17701386
CY2021Q4 us-gaap Prepaid Rent
PrepaidRent
15272677
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022Q4 thch Restricted Net Assets
RestrictedNetAssets
789217070
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
142838295
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
286078575
CY2021Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
47167706
CY2022Q4 us-gaap Prepaid Advertising
PrepaidAdvertising
11582119
CY2021Q4 us-gaap Prepaid Advertising
PrepaidAdvertising
14666752
CY2022Q3 us-gaap Cash Collateral For Borrowed Securities
CashCollateralForBorrowedSecurities
53169218
CY2022Q3 us-gaap Cash Collateral For Borrowed Securities
CashCollateralForBorrowedSecurities
377490814
CY2022 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
2133528
CY2022 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
0
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
7973229
CY2021Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
9817292
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2356034
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
5617195
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
9817292
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
52713996
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
31858814
CY2022Q4 thch Merchandise For E Commerce Sales
MerchandiseForECommerceSales
14164790
CY2021Q4 thch Merchandise For E Commerce Sales
MerchandiseForECommerceSales
6927512
CY2022Q4 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
4588731
CY2021Q4 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
3693077
CY2022Q4 us-gaap Inventory Net
InventoryNet
71467517
CY2021Q4 us-gaap Inventory Net
InventoryNet
42479403
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
387999
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
0
CY2020 us-gaap Inventory Write Down
InventoryWriteDown
0
CY2022Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
69665847
CY2021Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
50212274
CY2022Q4 thch Short Term Deposits Current
ShortTermDepositsCurrent
3468215
CY2021Q4 thch Short Term Deposits Current
ShortTermDepositsCurrent
4161725
CY2022Q4 thch Receivables From Payment Processors And Aggregators Current
ReceivablesFromPaymentProcessorsAndAggregatorsCurrent
10217082
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
14319607
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
96018313
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
13341468
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
22348446
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
108274731
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
142838295
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
939172109
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
650313971
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
214000566
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
96298740
CY2022Q4 thch Property Plant And Equipment Accumulated Impairment
PropertyPlantAndEquipmentAccumulatedImpairment
5135573
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
720035970
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
554015231
CY2022 us-gaap Depreciation
Depreciation
124083503
CY2021 us-gaap Depreciation
Depreciation
67512655
CY2020 us-gaap Depreciation
Depreciation
23702255
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
7222765
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1001880
CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
24663009
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
14999452
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
20987521
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
3096000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
77593680
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
9319001
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6763487
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4136128
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
11511475
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
11361548
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
11069647
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
10139360
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
8665568
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
43270715
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
96018313
CY2022Q4 thch Rental Deposits Non Current
RentalDepositsNonCurrent
82270359
CY2021Q4 thch Rental Deposits Non Current
RentalDepositsNonCurrent
67311223
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
386819972
CY2021Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
188959323
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
20987521
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
3096000
CY2022Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
407807493
CY2021Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
192055323
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
29787537
CY2021Q4 us-gaap Long Term Loans From Bank
LongTermLoansFromBank
11903452
CY2022Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
549411900
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
20987521
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
7410534
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1389482
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
29787537
CY2022Q4 thch Deferred Revenue Related To Customer Loyalty Program
DeferredRevenueRelatedToCustomerLoyaltyProgram
12179748
CY2021Q4 thch Deferred Revenue Related To Customer Loyalty Program
DeferredRevenueRelatedToCustomerLoyaltyProgram
8312436
CY2022Q4 thch Advance From Customers Related To Coupons And Gift Cards
AdvanceFromCustomersRelatedToCouponsAndGiftCards
8573239
CY2021Q4 thch Advance From Customers Related To Coupons And Gift Cards
AdvanceFromCustomersRelatedToCouponsAndGiftCards
5208549
CY2022Q4 thch Deferred Revenue Related To Upfront Franchise Fees Received From Sub Franchisees
DeferredRevenueRelatedToUpfrontFranchiseFeesReceivedFromSubFranchisees
750618
CY2021Q4 thch Deferred Revenue Related To Upfront Franchise Fees Received From Sub Franchisees
DeferredRevenueRelatedToUpfrontFranchiseFeesReceivedFromSubFranchisees
230968
CY2022Q4 thch Deferred Revenue Related To Other Services
DeferredRevenueRelatedToOtherServices
618700
CY2021Q4 thch Deferred Revenue Related To Other Services
DeferredRevenueRelatedToOtherServices
377358
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
22122305
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
14129311
CY2022Q4 thch Deferred Revenue Related To Upfront Franchise Fees Received From Sub Franchisees Non Current
DeferredRevenueRelatedToUpfrontFranchiseFeesReceivedFromSubFranchiseesNonCurrent
3311176
CY2021Q4 thch Deferred Revenue Related To Upfront Franchise Fees Received From Sub Franchisees Non Current
DeferredRevenueRelatedToUpfrontFranchiseFeesReceivedFromSubFranchiseesNonCurrent
970486
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
4061794
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
750618
CY2022Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
3311176
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
13829722
CY2022 thch Upfront Franchise Fees Amount
UpfrontFranchiseFeesAmount
23553799
CY2022 thch Continuing Franchise Fees
ContinuingFranchiseFees
31882569
CY2021 thch Upfront Franchise Fees Amount
UpfrontFranchiseFeesAmount
24265373
CY2021 thch Continuing Franchise Fees
ContinuingFranchiseFees
15576324
CY2022Q4 thch Accrued Franchise Fees Due To Related Parties
AccruedFranchiseFeesDueToRelatedParties
10390081
CY2021Q4 thch Accrued Franchise Fees Due To Related Parties
AccruedFranchiseFeesDueToRelatedParties
6863322
CY2022Q4 thch Number Of Stores And Office Spaces Lease
NumberOfStoresAndOfficeSpacesLease
500
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
254209990
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
3718849
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
113048
CY2022 us-gaap Lease Cost
LeaseCost
250604189
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
16816763
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
946872784
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
180468426
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
820248803
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1000717229
CY2022 thch Operating Lease Cash Paid Included In Measurement Of Lease Liability
OperatingLeaseCashPaidIncludedInMeasurementOfLeaseLiability
206073929
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
241609016
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y7M9D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0596
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
261058233
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
265552769
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
247539671
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
204062024
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
143088301
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
155132379
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1276433377
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
275716148
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1000717229
CY2022Q3 thch Warrants Issued Number
WarrantsIssuedNumber
22900000
CY2022Q3 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2022Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
1
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
288334440
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
88469812
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
47194542
CY2022Q4 thch Payable For Acquisition Of Property And Equipment
PayableForAcquisitionOfPropertyAndEquipment
139578631
CY2021Q4 thch Payable For Acquisition Of Property And Equipment
PayableForAcquisitionOfPropertyAndEquipment
172981034
CY2022Q4 thch Guarantee Deposits Current
GuaranteeDepositsCurrent
11695000
CY2021Q4 thch Guarantee Deposits Current
GuaranteeDepositsCurrent
6620000
CY2022Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
11901810
CY2021Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
10639627
CY2022Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
6707784
CY2021Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
2329431
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
9076767
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
8205320
CY2022Q4 thch Accrued Offering Costs Current
AccruedOfferingCostsCurrent
4039468
CY2021Q4 thch Accrued Offering Costs Current
AccruedOfferingCostsCurrent
9164827
CY2022Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
4242805
CY2021Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
3210387
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
34742278
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
25733407
CY2021 thch Government Grant Income
GovernmentGrantIncome
3319871
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
310454355
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
286078575
CY2022Q3 us-gaap Professional Fees
ProfessionalFees
3000000
CY2022Q4 us-gaap Professional Fees
ProfessionalFees
1000000
CY2022Q3 us-gaap Professional Fees
ProfessionalFees
2000000
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
200000
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
580000
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
4039468
CY2022Q4 thch Debt Instrument Convertible Adjusted Conversion Price
DebtInstrumentConvertibleAdjustedConversionPrice
10.85
CY2022Q4 thch Debt Instrument Convertible Adjusted Conversion Price
DebtInstrumentConvertibleAdjustedConversionPrice
10.85
CY2022Q4 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
354080264
CY2021Q4 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
318466215
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1011063766
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
643371949
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
212084571
CY2022 thch Government Grant Income
GovernmentGrantIncome
5996537
CY2021Q4 thch Deferred Tax Assets Contract Liabilities
DeferredTaxAssetsContractLiabilities
2472812
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Impairment Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsImpairmentLosses
1969902
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
398000
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.56
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.20
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.60
CY2022Q4 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
3520177
CY2021Q4 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
3769622
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
P3Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
P3Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.2500
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.2474
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.2500
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.2451
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.2699
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0250
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0280
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0247
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0253
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0101
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0112
CY2022 thch Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Multiple Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExerciseMultipleMinimum
0.0250
CY2022 thch Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Multiple Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExerciseMultipleMaximum
0.0280
CY2021 thch Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Multiple Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExerciseMultipleMinimum
0.0250
CY2021 thch Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Multiple Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExerciseMultipleMaximum
0.0280
CY2020 thch Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Multiple Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExerciseMultipleMinimum
0.0250
CY2020 thch Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Multiple Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExerciseMultipleMaximum
0.0280
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P10Y
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P10Y
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2020 thch Number Of Units Representing One Ordinary Share
NumberOfUnitsRepresentingOneOrdinaryShare
3.45
CY2021 thch Number Of Units Representing One Ordinary Share
NumberOfUnitsRepresentingOneOrdinaryShare
3.45
CY2022 thch Number Of Units Representing One Ordinary Share
NumberOfUnitsRepresentingOneOrdinaryShare
3.45
CY2022Q4 us-gaap Share Price
SharePrice
1.86
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-744748251
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-382929166
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-143060167
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
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