$VTS
Vitesse Energy, Inc.

2023 Q4 Form 10-Q Financial Statement

#000194455823000083 Filed on November 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $69.30M $55.05M $84.15M
YoY Change -76.9% -34.57% 71.83%
Cost Of Revenue $17.43M $15.14M $20.04M
YoY Change -76.26% -24.47% 31.65%
Gross Profit $51.87M $39.92M $64.11M
YoY Change -77.11% -37.73% 89.95%
Gross Profit Margin 74.85% 72.51% 76.18%
Selling, General & Admin $6.479M $4.966M -$12.36M
YoY Change -28.54% -140.18% -583.53%
% of Gross Profit 12.49% 12.44% -19.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.51M $19.01M $17.05M
YoY Change 46.44% 11.53% 14.1%
% of Gross Profit 49.18% 47.63% 26.59%
Operating Expenses $31.99M $39.12M $4.689M
YoY Change -56.06% 734.21% -73.2%
Operating Profit $19.88M $15.94M $59.42M
YoY Change -87.08% -73.18% 265.58%
Interest Expense $15.55M $1.166M $19.69M
YoY Change -144.46% -94.08% -416.19%
% of Operating Profit 78.23% 7.32% 33.14%
Other Income/Expense, Net $41.00K -$18.20M $3.000K
YoY Change 105.0% -606766.67% 0.0%
Pretax Income $35.48M -$2.262M $79.11M
YoY Change -70.16% -102.86% 688.81%
Income Tax $15.56M -$800.0K $0.00
% Of Pretax Income 43.86% 0.0%
Net Earnings $19.92M -$1.466M $79.11M
YoY Change -83.25% -101.85% 688.81%
Net Earnings / Revenue 28.74% -2.66% 94.01%
Basic Earnings Per Share -$0.05 $0.19
Diluted Earnings Per Share $0.68 -$0.05 $2.97
COMMON SHARES
Basic Shares Outstanding 28.79M shares 28.79M shares 438.6M shares
Diluted Shares Outstanding 29.66M shares 438.6M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $552.0K $1.747M $8.085M
YoY Change -94.48% -78.39%
Cash & Equivalents $552.0K $1.747M $4.010M
Short-Term Investments
Other Short-Term Assets $12.88M $1.550M $136.0K
YoY Change 336.13% 1039.71%
Inventory
Prepaid Expenses
Receivables $44.92M $38.20M $44.74M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $58.35M $41.50M $52.96M
YoY Change 7.35% -21.65%
LONG-TERM ASSETS
Property, Plant & Equipment $189.0K $166.0K $593.5M
YoY Change 65.79% -99.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.093M $2.170M $2.238M
YoY Change -4.54% -3.04%
Total Long-Term Assets $707.6M $699.5M $595.8M
YoY Change 16.74% 17.4%
TOTAL ASSETS
Total Short-Term Assets $58.35M $41.50M $52.96M
Total Long-Term Assets $707.6M $699.5M $595.8M
Total Assets $766.0M $741.0M $648.7M
YoY Change 15.97% 14.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.69M $24.47M $8.474M
YoY Change 284.24% 188.72%
Accrued Expenses $32.51M $52.66M $23.98M
YoY Change 25.76% 119.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $60.40M $83.42M $47.32M
YoY Change 64.68% 76.28%
LONG-TERM LIABILITIES
Long-Term Debt $81.00M $56.00M $66.00M
YoY Change 68.75% -15.15%
Other Long-Term Liabilities $5.479M $4.252M $22.69M
YoY Change -81.26%
Total Long-Term Liabilities $5.479M $4.252M $88.69M
YoY Change -95.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $60.40M $83.42M $47.32M
Total Long-Term Liabilities $5.479M $4.252M $88.69M
Total Liabilities $219.6M $199.8M $136.0M
YoY Change 139.96% 46.87%
SHAREHOLDERS EQUITY
Retained Earnings -$21.58M -$41.49M
YoY Change
Common Stock $328.0K $328.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $546.4M $541.2M $512.7M
YoY Change
Total Liabilities & Shareholders Equity $766.0M $741.0M $648.7M
YoY Change 15.97% 14.22%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income $19.92M -$1.466M $79.11M
YoY Change -83.25% -101.85% 688.81%
Depreciation, Depletion And Amortization $25.51M $19.01M $17.05M
YoY Change 46.44% 11.53% 14.1%
Cash From Operating Activities $31.64M $32.06M $49.67M
YoY Change -18.08% -35.46% 109.6%
INVESTING ACTIVITIES
Capital Expenditures $43.21M $34.17M $19.31M
YoY Change 58.47% 77.01% 11.11%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$43.21M -$34.17M -$19.31M
YoY Change 58.47% 77.01% 11.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.38M 500.0K -24.03M
YoY Change -186.52% -102.08% 242.8%
NET CHANGE
Cash From Operating Activities 31.64M 32.06M 49.67M
Cash From Investing Activities -43.21M -34.17M -19.31M
Cash From Financing Activities 10.38M 500.0K -24.03M
Net Change In Cash -1.195M -1.613M 6.331M
YoY Change 88.78% -125.48% -1018.87%
FREE CASH FLOW
Cash From Operating Activities $31.64M $32.06M $49.67M
Capital Expenditures $43.21M $34.17M $19.31M
Free Cash Flow -$11.57M -$2.113M $30.37M
YoY Change -201.87% -106.96% 380.31%

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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-41106000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-49807000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8260000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1346000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10007000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5356000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1747000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4010000 usd
us-gaap Interest Paid Net
InterestPaidNet
3120000 usd
us-gaap Interest Paid Net
InterestPaidNet
2738000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
1292000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
57527000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
18556000 usd
us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
392000 usd
us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
0 usd
us-gaap Stock Issued1
StockIssued1
30628000 usd
us-gaap Stock Issued1
StockIssued1
0 usd
vitesse Unit Based Compensation Liability Transferred To Redeemable Management Incentive Units
UnitBasedCompensationLiabilityTransferredToRedeemableManagementIncentiveUnits
0 usd
vitesse Unit Based Compensation Liability Transferred To Redeemable Management Incentive Units
UnitBasedCompensationLiabilityTransferredToRedeemableManagementIncentiveUnits
46000 usd
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q1 vitesse Income Tax Expense Benefit Spin Off
IncomeTaxExpenseBenefitSpinOff
44100000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:3pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9.5pt;font-weight:400;line-height:125%">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9.5pt;font-weight:400;line-height:125%">Depletion, depreciation, and amortization (“DD&amp;A”) and the evaluation of proved oil and gas properties for impairment are determined using estimates of oil and gas reserves. There are numerous uncertainties in estimating the quantity of reserves and in projecting the future rates of production and timing of development expenditures, which includes lack of control over future development plans as a non-operator. Oil and gas reserve engineering is a subjective process of estimating underground accumulations of oil and gas that cannot be measured in an exact way. In addition, significant estimates include, but are not limited to, estimates relating to certain crude oil and natural gas revenues and expenses, fair value of assets acquired and liabilities assumed in business combinations, valuation of Predecessor equity-based compensation, and valuation of commodity derivative instruments. Further, these estimates and other factors, including those outside of the Company’s control, such as the impact of lower commodity prices, may have a significant adverse impact to the Company’s business, financial condition, results of operations and cash flows.</span></div>
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q3 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
17600000 usd
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
21800000 usd
CY2023Q3 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
18800000 usd
us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
55700000 usd
CY2023Q3 vitesse Oil And Gas Properties Successful Effort Method Depletion Rate Per Barrel Of Oil Equivalent
OilAndGasPropertiesSuccessfulEffortMethodDepletionRatePerBarrelOfOilEquivalent
18.61
vitesse Oil And Gas Properties Successful Effort Method Depletion Rate Per Barrel Of Oil Equivalent
OilAndGasPropertiesSuccessfulEffortMethodDepletionRatePerBarrelOfOilEquivalent
18.08
CY2022Q3 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
17700000 usd
us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
46700000 usd
CY2022Q3 vitesse Oil And Gas Properties Successful Effort Method Depletion Rate Per Barrel Of Oil Equivalent
OilAndGasPropertiesSuccessfulEffortMethodDepletionRatePerBarrelOfOilEquivalent
17.21
vitesse Oil And Gas Properties Successful Effort Method Depletion Rate Per Barrel Of Oil Equivalent
OilAndGasPropertiesSuccessfulEffortMethodDepletionRatePerBarrelOfOilEquivalent
16.73
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
CY2022Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
CY2023Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
CY2022Q3 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
3600000 usd
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
22000000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:3pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Credit Risk</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9.5pt;font-weight:400;line-height:125%">For the three and nine months ended September 30, 2023, three operators accounted for 49 percent and 48 percent, respectively, of oil and natural gas revenue.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9.5pt;font-weight:400;line-height:125%">For the three and nine months ended September 30, 2022, four operators accounted for 58 percent and 56 percent, respectively, of oil and natural gas revenue.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9.5pt;font-weight:400;line-height:125%">As of September 30, 2023 and December 31, 2022, two and four operators accounted for 45 percent and 65 percent, respectively, of oil and natural gas revenue receivable. </span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9.5pt;font-weight:400;line-height:125%">The Company’s oil and natural gas revenue receivable is generated from the sale of oil and natural gas by operators on its behalf. The Company monitors the financial condition of its operators.</span></div>
CY2023Q3 vitesse Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
40400000 usd
CY2022Q4 vitesse Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
15500000 usd
CY2023Q3 vitesse Accrued Lease Operating Expenses Net Current
AccruedLeaseOperatingExpensesNetCurrent
2924000 usd
CY2022Q4 vitesse Accrued Lease Operating Expenses Net Current
AccruedLeaseOperatingExpensesNetCurrent
2740000 usd
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2448000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3524000 usd
CY2023Q3 vitesse Accrued Derivative Settlements Current
AccruedDerivativeSettlementsCurrent
1323000 usd
CY2022Q4 vitesse Accrued Derivative Settlements Current
AccruedDerivativeSettlementsCurrent
189000 usd
CY2023Q3 us-gaap Dividends Payable Current
DividendsPayableCurrent
1308000 usd
CY2022Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
0 usd
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4253000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1068000 usd
CY2023Q3 vitesse Accrued Spin Related Expenditures Current
AccruedSpinRelatedExpendituresCurrent
0 usd
CY2022Q4 vitesse Accrued Spin Related Expenditures Current
AccruedSpinRelatedExpendituresCurrent
2828000 usd
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
52656000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
25849000 usd
CY2022 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
36000000 usd
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
95000000 shares
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
vitesse Distribution Of Predecessor Equity Interests Shares
DistributionOfPredecessorEquityInterestsShares
25628162 shares
CY2022Q4 vitesse Number Of Founding Members Predecessor
NumberOfFoundingMembersPredecessor
2 member
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
14600 shares
us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
49200000 usd
CY2023Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
1102893 shares
CY2023Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
60000000 usd
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
14600 shares
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
200000 usd
CY2023Q3 vitesse Net Income Loss Attributable To Parent Excluding Predecessor
NetIncomeLossAttributableToParentExcludingPredecessor
-1466000 usd
vitesse Net Income Loss Attributable To Parent Excluding Predecessor
NetIncomeLossAttributableToParentExcludingPredecessor
-41493000 usd
CY2023Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1466000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-41493000 usd
CY2023Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
0 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
0 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-1466000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-41493000 usd
CY2023Q3 vitesse Weighted Average Common Shares Outstanding Basic Numerator
WeightedAverageCommonSharesOutstandingBasicNumerator
28787381 shares
vitesse Weighted Average Common Shares Outstanding Basic Numerator
WeightedAverageCommonSharesOutstandingBasicNumerator
28725204 shares
CY2023Q3 vitesse Weighted Average Transitional Share Rs Us Outstanding With No Future Service Required
WeightedAverageTransitionalShareRSUsOutstandingWithNoFutureServiceRequired
872382 shares
vitesse Weighted Average Transitional Share Rs Us Outstanding With No Future Service Required
WeightedAverageTransitionalShareRSUsOutstandingWithNoFutureServiceRequired
935720 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29659763 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29660924 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29659763 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29660924 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.40
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.40
CY2022Q4 vitesse Number Of Classes Of Membership Units
NumberOfClassesOfMembershipUnits
2 class
CY2022Q4 us-gaap Common Unit Authorized
CommonUnitAuthorized
450000000 shares
CY2022Q4 us-gaap Common Unit Outstanding
CommonUnitOutstanding
450000000 shares
CY2022Q4 us-gaap Common Unit Issued
CommonUnitIssued
450000000 shares
CY2022Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
1000000 shares
CY2022Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
953750 shares
CY2022Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
953750 shares
CY2022Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
953750 shares
CY2022Q4 vitesse Common Units Issuance Value Per Share
CommonUnitsIssuanceValuePerShare
1
CY2022Q4 us-gaap Common Unit Issuance Value
CommonUnitIssuanceValue
450000000 usd
CY2022 vitesse Board Of Managers Number Of Managers
BoardOfManagersNumberOfManagers
5 manager
CY2022 vitesse Number Of Votes Each Manager Is Entitled To
NumberOfVotesEachManagerIsEntitledTo
1 vote
CY2022Q4 vitesse Number Of Founding Members Predecessor
NumberOfFoundingMembersPredecessor
2 member
CY2022Q3 vitesse Members Equity Liability Based Award Fair Value Adjustment
MembersEquityLiabilityBasedAwardFairValueAdjustment
5400000 usd
vitesse Members Equity Liability Based Award Fair Value Adjustment
MembersEquityLiabilityBasedAwardFairValueAdjustment
-1600000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
-17329000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4911000 usd
CY2022Q3 vitesse Distribution To Common Unit Holders
DistributionToCommonUnitHolders
0 usd
vitesse Distribution To Common Unit Holders
DistributionToCommonUnitHolders
36000000 usd
CY2022Q4 vitesse Number Of Classes Of Membership Units
NumberOfClassesOfMembershipUnits
2 class
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
85739000 usd
us-gaap Net Income Loss
NetIncomeLoss
95334000 usd
CY2022Q3 vitesse In Substance Options On Common Units Common Unit Option Grant
InSubstanceOptionsOnCommonUnitsCommonUnitOptionGrant
2167000 usd
vitesse In Substance Options On Common Units Common Unit Option Grant
InSubstanceOptionsOnCommonUnitsCommonUnitOptionGrant
2410000 usd
CY2022Q3 vitesse In Substance Options On Founder Management Incentive Units Founder Management Incentive Unit Option Grant
InSubstanceOptionsOnFounderManagementIncentiveUnitsFounderManagementIncentiveUnitOptionGrant
0 usd
vitesse In Substance Options On Founder Management Incentive Units Founder Management Incentive Unit Option Grant
InSubstanceOptionsOnFounderManagementIncentiveUnitsFounderManagementIncentiveUnitOptionGrant
0 usd
CY2022Q3 vitesse Non Founder Management Incentive Units Classified As Temporary Equity
NonFounderManagementIncentiveUnitsClassifiedAsTemporaryEquity
0 usd
vitesse Non Founder Management Incentive Units Classified As Temporary Equity
NonFounderManagementIncentiveUnitsClassifiedAsTemporaryEquity
0 usd
CY2022Q3 vitesse Non Founder Management Incentive Units Classified As Liabilities
NonFounderManagementIncentiveUnitsClassifiedAsLiabilities
0 usd
vitesse Non Founder Management Incentive Units Classified As Liabilities
NonFounderManagementIncentiveUnitsClassifiedAsLiabilities
0 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
83572000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
92924000 usd
CY2022Q3 vitesse Weighted Average Number Of Shares Outstanding Predecessor
WeightedAverageNumberOfSharesOutstandingPredecessor
450000000 shares
vitesse Weighted Average Number Of Shares Outstanding Predecessor
WeightedAverageNumberOfSharesOutstandingPredecessor
450000000 shares
CY2022Q3 vitesse Weighted Average Number Of Shares Common Units Accounted For As In Substance Options
WeightedAverageNumberOfSharesCommonUnitsAccountedForAsInSubstanceOptions
11375000 shares
vitesse Weighted Average Number Of Shares Common Units Accounted For As In Substance Options
WeightedAverageNumberOfSharesCommonUnitsAccountedForAsInSubstanceOptions
11375000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
438625000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
438625000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
438625000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
438625000 shares
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
CY2022Q3 us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
0 usd
us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
0 usd
CY2022Q3 vitesse Management Incentive Units Classified In Temporary Equity
ManagementIncentiveUnitsClassifiedInTemporaryEquity
237500 shares
vitesse Management Incentive Units Classified In Temporary Equity
ManagementIncentiveUnitsClassifiedInTemporaryEquity
237500 shares
CY2022Q3 vitesse Earnings Per Non Founder Management Incentive Unit Temporary Equity Basic
EarningsPerNonFounderManagementIncentiveUnitTemporaryEquityBasic
0
CY2022Q3 vitesse Earnings Per Non Founder Management Incentive Unit Temporary Equity Diluted
EarningsPerNonFounderManagementIncentiveUnitTemporaryEquityDiluted
0
vitesse Earnings Per Non Founder Management Incentive Unit Temporary Equity Basic
EarningsPerNonFounderManagementIncentiveUnitTemporaryEquityBasic
0
vitesse Earnings Per Non Founder Management Incentive Unit Temporary Equity Diluted
EarningsPerNonFounderManagementIncentiveUnitTemporaryEquityDiluted
0
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-800000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
46400000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q1 vitesse Deferred Tax Liability Spin Off
DeferredTaxLiabilitySpinOff
44100000 usd
CY2023Q1 vitesse Deferred Tax Expense Benefit Spin Off
DeferredTaxExpenseBenefitSpinOff
44100000 usd
CY2023Q1 vitesse Deferred Tax Liability Acquisition
DeferredTaxLiabilityAcquisition
2400000 usd
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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vitesse-20230930_cal.xml Edgar Link unprocessable
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0001944558-23-000083-index.html Edgar Link pending
0001944558-23-000083.txt Edgar Link pending
0001944558-23-000083-xbrl.zip Edgar Link pending
exhibit101letteragreementd.htm Edgar Link pending
exhibit311certification3q2.htm Edgar Link pending
exhibit312certification3q2.htm Edgar Link pending
exhibit321certification3q2.htm Edgar Link pending
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