Kaleyra, Inc.(NYSE:KLR) 
Kaleyra, Inc. provides a cloud communications platform for business-to-consumer communications worldwide. Its platform enables communications by integrating mobile alert notifications and interactive capabilities to reach and engage end-user customers. The company's platform also provides programmab...
Website: http://www.kaleyra.com
Founded: 1999
CEO: Dario Calogero
Sector: Communication Services
Industry: Telecom Services
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At a glance:
Bull Thesis:
Bear Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 |
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revenue | 86,752,000 | 83,618,000 | 93,662,000 | 83,916,000 | 81,109,000 | 80,481,000 | 90,008,000 | 84,025,000 | 53,992,000 | 39,714,000 | 44,268,000 | 38,268,000 | 31,199,000 | 33,633,000 | ||||||||
yoy | 6.96% | 3.90% | 4.06% | -0.13% | 50.22% | 102.65% | 103.33% | 119.57% | 73.06% | 18.08% | ||||||||||||
qoq | 3.75% | -10.72% | 11.61% | 3.46% | 0.78% | -10.58% | 7.12% | 55.62% | 35.95% | -10.29% | 15.68% | 22.66% | -7.24% | |||||||||
cost of revenue | 64,981,000 | 62,518,000 | 76,635,000 | 67,226,000 | 62,459,000 | 62,743,000 | 68,895,000 | 64,414,000 | 43,529,000 | 33,390,000 | 36,421,000 | 30,763,000 | 26,846,000 | 28,902,000 | ||||||||
gross profit | 21,771,000 | 21,100,000 | 17,027,000 | 16,690,000 | 18,650,000 | 17,738,000 | 21,113,000 | 19,611,000 | 10,463,000 | 6,324,000 | 7,847,000 | 7,505,000 | 4,353,000 | 4,731,000 | ||||||||
yoy | 16.73% | 18.95% | -19.35% | -14.89% | 78.25% | 180.49% | 169.06% | 161.31% | 140.36% | 33.67% | ||||||||||||
qoq | 3.18% | 23.92% | 2.02% | -10.51% | 5.14% | -15.99% | 7.66% | 87.43% | 65.45% | -19.41% | 4.56% | 72.41% | -7.99% | |||||||||
gross margin % | 25.10% | 25.23% | 18.18% | 19.89% | 22.99% | 22.04% | 23.46% | 23.34% | 19.38% | 15.92% | 17.73% | 19.61% | 13.95% | 14.07% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | |
operating expenses: | ||||||||||||||||||||||
research and development | 5,314,000 | 5,402,000 | 2,834,000 | 5,246,000 | 6,265,000 | 4,890,000 | 4,143,000 | 7,163,000 | 4,282,000 | 2,868,000 | 2,330,000 | 2,259,000 | 2,346,000 | 2,810,000 | ||||||||
sales and marketing | 5,459,000 | 6,014,000 | 7,763,000 | 7,181,000 | 7,226,000 | 7,100,000 | 6,286,000 | 7,272,000 | 4,660,000 | 2,859,000 | 2,711,000 | 3,423,000 | 2,989,000 | 3,743,000 | ||||||||
general and administrative | 15,192,000 | 14,036,000 | 14,179,000 | 13,498,000 | 16,594,000 | 15,380,000 | 15,360,000 | 12,631,000 | 12,364,000 | 10,602,000 | 7,458,000 | 6,441,000 | 6,537,000 | 7,759,000 | ||||||||
intangible asset impairment | 321,000 | |||||||||||||||||||||
total operating expenses | 26,286,000 | 25,452,000 | 74,222,000 | 25,925,000 | 30,085,000 | 27,370,000 | 25,789,000 | 27,066,000 | 21,306,000 | 16,329,000 | 12,499,000 | 12,123,000 | 11,872,000 | 14,312,000 | ||||||||
income from operations | -4,515,000 | -4,352,000 | -57,195,000 | -9,235,000 | -11,435,000 | -9,632,000 | -4,676,000 | -7,455,000 | -10,843,000 | -10,005,000 | -4,652,000 | -4,618,000 | -7,519,000 | -9,581,000 | -844,444 | -619,588 | -820,406 | -696,750 | -1,588,912 | -290,614 | -312,722 | |
yoy | -60.52% | -54.82% | 1123.16% | 23.88% | 5.46% | -3.73% | 0.52% | 61.43% | 44.21% | 4.43% | 446.87% | 1113.55% | 1067.84% | -46.85% | 113.20% | 162.34% | ||||||
qoq | 3.75% | -92.39% | 519.33% | -19.24% | 18.72% | 105.99% | -37.28% | -31.25% | 8.38% | 115.07% | 0.74% | -38.58% | -21.52% | 36.29% | -24.48% | 17.75% | -56.15% | 446.74% | -7.07% | |||
operating margin % | -5.20% | -5.20% | -61.07% | -11.01% | -14.10% | -11.97% | -5.20% | -8.87% | -20.08% | -25.19% | -10.51% | -12.07% | -24.10% | -28.49% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | |
other income | -200,000 | 15,000 | 65,000 | 37,000 | 37,000 | 46,000 | 27,000 | 66,000 | 47,000 | 45,000 | 21,000 | 38,000 | 11,000 | 42,000 | ||||||||
financial expense | -3,821,000 | -3,634,000 | -3,775,000 | -3,627,000 | -3,417,000 | -3,152,000 | -3,626,000 | -3,542,000 | -908,000 | -719,000 | ||||||||||||
foreign currency loss | -156,000 | |||||||||||||||||||||
income before income tax expense | -8,692,000 | -8,940,000 | -12,481,000 | |||||||||||||||||||
income tax benefit | 397,000 | -5,375,000 | 624,000 | -95,000 | -1,081,000 | 766,000 | -7,408,000 | 34,000 | -1,111,000 | -263,000 | -313,000 | -589,000 | ||||||||||
net income | -9,089,000 | -9,964,000 | -57,845,000 | -11,674,000 | -15,837,000 | -13,172,000 | -7,293,000 | -11,859,000 | -4,487,000 | -10,358,000 | -4,526,000 | -5,333,000 | -8,128,000 | -8,823,000 | -560,733 | -114,030 | -247,272 | -164,103 | -769,384 | 103,999 | 21,980 | |
yoy | -42.61% | -24.35% | 693.16% | -1.56% | 252.95% | 27.17% | 61.14% | 122.37% | -44.80% | 17.40% | 851.08% | 7027.95% | 3468.14% | -27.12% | -209.65% | -1224.99% | ||||||
qoq | -8.78% | -82.77% | 395.50% | -26.29% | 20.23% | 80.61% | -38.50% | 164.30% | -56.68% | 128.86% | -15.13% | -34.39% | -7.88% | 391.74% | -53.88% | 50.68% | -78.67% | -839.80% | 373.15% | |||
net income margin % | -10.48% | -11.92% | -61.76% | -13.91% | -19.53% | -16.37% | -8.10% | -14.11% | -8.31% | -26.08% | -10.22% | -13.94% | -26.05% | -26.23% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | Infinity% | |
net income per common share, basic and diluted | -690 | -760 | -6,920 | -260 | -360 | -310 | -170 | -290 | -130 | -340 | -120 | -190 | -390 | -440 | ||||||||
weighted-average shares used for eps calculation | 13,256,071,000 | 13,044,570,000 | 12,534,749,000 | 44,650,611,000 | 43,410,858,000 | 42,247,518,000 | 37,031,698,000 | 41,554,876,000 | 34,292,874,000 | 30,364,943,000 | 24,652,004,000 | 28,330,869,000 | 20,606,816,000 | 19,979,589,000 | ||||||||
foreign currency income | -969,000 | 228,750 | 1,775,000 | -1,117,000 | 257,000 | 500 | -162,000 | -191,000 | 355,000 | -198,750 | -548,000 | -415,000 | 168,000 | |||||||||
income tax expense | 1,024,000 | 691,000 | ||||||||||||||||||||
income before income tax benefit | -63,220,000 | -11,050,000 | -15,932,000 | -8,374,000 | -11,093,000 | -11,895,000 | -10,324,000 | -5,637,000 | -5,596,000 | -8,441,000 | -9,412,000 | |||||||||||
financial income | -256,750 | -468,000 | -518,000 | -41,000 | ||||||||||||||||||
revenues | ||||||||||||||||||||||
general and administrative expenses | 844,444 | 619,588 | 820,406 | 696,750 | 1,588,912 | 290,614 | 312,722 | |||||||||||||||
interest income on cash and marketable securities held in trust account | 387,416 | 708,576 | 804,892 | 747,186 | ||||||||||||||||||
net income before benefit from income taxes | 30,977.5 | 88,988 | ||||||||||||||||||||
benefit from income taxes | -103,705 | -203,018 | -231,758 | -214,539 | -405,292 | -195,156 | -171,840 | |||||||||||||||
weighted-average common shares outstanding, basic and diluted | 4,207,008 | 4,238,180 | 4,181,424 | 4,056,831 | 4,048,626 | 4,033,329 | 4,038,843 | |||||||||||||||
net income per share | -0.17 | -0.1 | -0.17 | -0.14 | -0.35 | -0.05 | -0.06 | |||||||||||||||
income before benefit from income taxes | -15,514 | 50,436 | -364,092 | 299,155 | 193,820 | |||||||||||||||||
interest income on marketable securities held in trust account | 147,442.25 | 589,769 | 506,542 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||
current assets: | |||||||||||||||||||
cash and cash equivalents | 63,866,000 | 74,362,000 | 77,500,000 | 86,536,000 | 73,622,000 | 86,222,000 | 90,001,000 | 70,303,000 | 118,625,000 | 35,507,000 | 32,970,000 | 31,514,000 | 37,221,000 | 16,237,000 | 16,103,000 | ||||
restricted cash | 488,000 | 488,000 | 480,000 | 439,000 | 468,000 | 1,667,000 | 1,701,000 | 1,738,000 | 27,000 | 20,810,000 | 20,894,000 | ||||||||
short-term investments | 630,000 | 637,000 | 587,000 | 622,000 | 680,000 | 7,294,000 | 6,236,000 | 36,447,000 | 6,099,000 | 4,287,000 | 4,843,000 | 5,138,000 | 4,805,000 | 3,079,000 | |||||
trade receivables | 73,653,000 | 82,948,000 | 86,783,000 | 85,863,000 | 95,768,000 | 82,038,000 | 85,945,000 | 82,749,000 | 77,252,000 | 41,611,000 | 43,651,000 | 40,006,000 | 38,069,000 | 36,307,000 | 39,509,000 | ||||
deferred cost | 354,000 | 334,000 | 319,000 | 347,000 | 329,000 | 319,000 | 341,000 | ||||||||||||
prepaid expenses | 3,451,000 | 3,764,000 | 3,989,000 | 3,466,000 | 4,340,000 | 4,718,000 | 5,357,000 | 3,444,000 | 3,850,000 | 1,233,000 | 1,447,000 | 1,227,000 | 1,098,000 | 1,246,000 | 648,000 | 11,462 | 31,982 | 45,836 | 110,439 |
other current assets | 4,748,000 | 3,944,000 | 3,387,000 | 1,966,000 | 1,436,000 | 1,662,000 | 2,599,000 | 4,408,000 | 3,668,000 | 5,222,000 | 2,134,000 | 1,774,000 | 1,921,000 | 2,757,000 | 4,224,000 | ||||
total current assets | 147,190,000 | 166,477,000 | 173,045,000 | 179,239,000 | 176,643,000 | 183,920,000 | 192,180,000 | 199,419,000 | 209,865,000 | 87,860,000 | 85,045,000 | 79,659,000 | 83,141,000 | 80,436,000 | 86,502,000 | 488,115 | 368,173 | 183,183 | 713,936 |
property and equipment | 23,535,000 | 23,840,000 | 23,826,000 | 21,107,000 | 20,384,000 | 19,824,000 | 18,811,000 | 17,203,000 | 15,939,000 | 7,113,000 | 6,726,000 | 5,825,000 | 4,750,000 | 3,888,000 | 3,393,000 | ||||
operating right-of-use assets | 2,599,000 | 2,781,000 | 2,931,000 | ||||||||||||||||
intangible assets | 52,678,000 | 55,229,000 | 57,400,000 | 110,009,000 | 115,146,000 | 120,575,000 | 125,396,000 | 130,085,000 | 133,525,000 | 7,156,000 | 7,574,000 | 7,937,000 | 8,229,000 | 8,665,000 | 9,353,000 | ||||
goodwill | 111,905,000 | 111,801,000 | 111,526,000 | 110,781,000 | 111,893,000 | 110,088,000 | 110,465,000 | 110,657,000 | 96,788,000 | 16,612,000 | 16,657,000 | 16,558,000 | 16,296,000 | 16,370,000 | 16,953,000 | ||||
other long-term assets | 2,219,000 | 1,995,000 | 1,445,000 | 1,740,000 | 1,525,000 | 1,464,000 | 399,000 | 395,000 | 313,000 | 299,000 | 1,797,000 | 1,783,000 | 1,700,000 | 2,082,000 | 1,203,000 | ||||
total assets | 340,126,000 | 362,123,000 | 370,173,000 | 423,383,000 | 425,967,000 | 436,409,000 | 448,481,000 | 457,759,000 | 456,430,000 | 119,080,000 | 118,502,000 | 111,762,000 | 114,116,000 | 111,441,000 | 117,404,000 | 79,366,258 | 78,361,971 | 147,720,523 | 145,899,402 |
liabilities and stockholders’ equity | |||||||||||||||||||
current liabilities: | |||||||||||||||||||
accounts payable | 73,038,000 | 80,331,000 | 82,258,000 | 75,840,000 | 71,934,000 | 69,209,000 | 70,942,000 | 74,692,000 | 66,765,000 | 46,135,000 | 51,768,000 | 48,076,000 | 55,152,000 | 56,674,000 | 63,320,000 | 1,391,723 | 1,275,461 | 1,220,538 | 64,581 |
lines of credit | 3,468,000 | 2,991,000 | 3,955,000 | 3,255,000 | 3,182,000 | 4,649,000 | 5,256,000 | 5,464,000 | 5,338,000 | 4,439,000 | 5,273,000 | 4,567,000 | 4,995,000 | 5,278,000 | |||||
current portion of notes payable | 405,000 | 405,000 | 405,000 | 405,000 | |||||||||||||||
current portion of bank and other borrowings | 9,389,000 | 10,234,000 | 11,419,000 | 10,468,000 | 10,581,000 | 10,657,000 | 10,508,000 | 10,455,000 | 9,448,000 | 8,082,000 | 10,798,000 | 9,675,000 | 8,082,000 | 5,925,000 | 11,243,000 | ||||
deferred revenue | 2,443,000 | 3,290,000 | 3,528,000 | 5,283,000 | 6,934,000 | 6,778,000 | 9,553,000 | 11,055,000 | 10,775,000 | 3,107,000 | 3,666,000 | 1,519,000 | 1,500,000 | 1,538,000 | 1,397,000 | ||||
payroll and payroll related accrued liabilities | 6,855,000 | 7,371,000 | 5,993,000 | 7,643,000 | 6,567,000 | 8,908,000 | 6,907,000 | 5,450,000 | 4,124,000 | 3,374,000 | 3,292,000 | 3,819,000 | 5,267,000 | 2,929,000 | 1,038,000 | ||||
other current liabilities | 10,644,000 | 14,502,000 | 9,431,000 | 9,078,000 | 6,327,000 | 8,813,000 | 8,274,000 | 8,879,000 | 6,647,000 | 2,786,000 | 5,988,000 | 1,759,000 | 1,687,000 | 2,023,000 | 1,229,000 | 87,069 | 203,018 | 231,758 | 221,865 |
total current liabilities | 105,837,000 | 119,124,000 | 116,989,000 | 111,972,000 | 105,930,000 | 109,014,000 | 111,440,000 | 115,995,000 | 103,097,000 | 71,673,000 | 88,768,000 | 73,645,000 | 93,960,000 | 121,127,000 | 125,946,000 | 5,792,639 | 4,227,619 | 3,291,782 | 1,059,286 |
long-term portion of bank and other borrowings | 9,494,000 | 11,675,000 | 13,459,000 | 14,488,000 | 15,928,000 | 19,988,000 | 22,910,000 | 26,574,000 | 28,611,000 | 31,020,000 | 31,974,000 | 33,462,000 | 18,755,000 | 20,621,000 | 16,134,000 | ||||
long-term portion of notes payable | 192,844,000 | 192,293,000 | 191,777,000 | 191,240,000 | 190,733,000 | 190,625,000 | 190,147,000 | 189,647,000 | 189,238,000 | 405,000 | 2,700,000 | 2,700,000 | 2,700,000 | ||||||
long-term portion of employee benefit obligation | 2,380,000 | 2,359,000 | 2,373,000 | 2,301,000 | 2,377,000 | 2,393,000 | 2,338,000 | 2,158,000 | 1,952,000 | 1,886,000 | 1,886,000 | 1,641,000 | 1,490,000 | 1,341,000 | 1,398,000 | ||||
other long-term liabilities | 3,193,000 | 3,052,000 | 3,362,000 | 785,000 | 892,000 | 1,253,000 | 1,840,000 | 2,004,000 | 1,667,000 | 2,158,000 | 603,000 | 1,335,000 | 1,147,000 | 4,599,000 | 3,155,000 | ||||
total liabilities | 313,748,000 | 328,503,000 | 327,960,000 | 326,842,000 | 321,065,000 | 326,029,000 | 331,059,000 | 338,780,000 | 326,357,000 | 107,142,000 | 125,931,000 | 117,626,000 | 123,106,000 | 153,076,000 | 156,178,000 | ||||
commitments and contingencies | |||||||||||||||||||
stockholders’ equity: | |||||||||||||||||||
preferred stock, par value of 0.0001 per share; 1,000,000 shares authorized; no shares issued or outstanding | |||||||||||||||||||
common stock | 1,000 | 1,000 | 1,000 | 5,000 | 5,000 | 4,000 | 4,000 | 4,000 | 4,000 | 3,000 | 3,000 | 3,000 | 3,000 | 2,000 | 2,000 | 445 | 440 | 419 | 415 |
additional paid-in capital | 282,459,000 | 280,486,000 | 278,473,000 | 275,129,000 | 270,672,000 | 258,418,000 | 251,659,000 | 246,205,000 | 245,452,000 | 122,252,000 | 93,628,000 | 89,574,000 | 74,284,000 | 11,190,000 | 2,143,000 | 6,751,086 | 6,190,351 | 6,076,342 | 5,664,971 |
treasury stock | -30,431,000 | -30,431,000 | -30,431,000 | -30,431,000 | -30,431,000 | -30,431,000 | -30,431,000 | -30,431,000 | -30,431,000 | -30,431,000 | -30,431,000 | -30,431,000 | -24,218,000 | -2,587,000 | |||||
accumulated other comprehensive loss | -4,710,000 | -4,584,000 | -5,212,000 | -5,679,000 | -4,535,000 | -2,639,000 | -2,010,000 | -2,292,000 | -2,304,000 | -1,725,000 | |||||||||
accumulated deficit | -220,941,000 | -211,852,000 | -200,618,000 | -142,483,000 | -130,809,000 | -114,972,000 | -101,800,000 | -94,507,000 | -82,648,000 | -78,161,000 | -67,803,000 | -63,277,000 | -57,944,000 | -49,816,000 | -40,993,000 | -1,751,523 | -1,190,790 | -1,076,760 | -665,385 |
total stockholders’ equity | 26,378,000 | 33,620,000 | 42,213,000 | 96,541,000 | 104,902,000 | 110,380,000 | 117,422,000 | 118,979,000 | 130,073,000 | 11,938,000 | -7,429,000 | -5,864,000 | -8,990,000 | -41,635,000 | -38,774,000 | 5,000,008 | 5,000,001 | 5,000,001 | 5,000,001 |
total liabilities and stockholders’ equity | 340,126,000 | 362,123,000 | 370,173,000 | 423,383,000 | 425,967,000 | 436,409,000 | 448,481,000 | 457,759,000 | 456,430,000 | 119,080,000 | 118,502,000 | 111,762,000 | 114,116,000 | 111,441,000 | 117,404,000 | 79,366,258 | 78,361,971 | 147,720,523 | 145,899,402 |
deferred tax assets | 507,000 | 376,000 | 538,000 | 1,230,000 | 40,000 | 703,000 | |||||||||||||
deferred tax liabilities | 6,056,000 | 5,205,000 | 2,756,000 | 2,384,000 | 1,093,000 | 1,304,000 | 1,638,000 | 2,045,000 | |||||||||||
stockholders’ equity | |||||||||||||||||||
debt for forward share purchase agreements | 483,000 | 480,000 | 7,525,000 | 31,530,000 | 34,059,000 | ||||||||||||||
notes payable due to related parties | 3,750,000 | 7,500,000 | 3,750,000 | 9,750,000 | 13,115,000 | 9,414,000 | |||||||||||||
deferred costs | 330,000 | 371,000 | |||||||||||||||||
deferred tax liability | 2,402,000 | 1,792,000 | |||||||||||||||||
notes payable | 2,113,000 | 1,716,000 | 1,437,500 | ||||||||||||||||
preference shares | 1,000 | 1,000 | 683,000 | ||||||||||||||||
preference shares due to related parties | 1,000 | 1,000 | 1,847,000 | ||||||||||||||||
long-term portion of notes payable due to related parties | 3,750,000 | 3,750,000 | 3,750,000 | 7,500,000 | |||||||||||||||
accumulated other comprehensive income | -2,826,000 | -1,733,000 | -1,115,000 | -424,000 | 74,000 | ||||||||||||||
short-term marketable securities | 5,124,000 | ||||||||||||||||||
deferred consideration for the acquisition | |||||||||||||||||||
deferred consideration for the acquisition due to related parties | |||||||||||||||||||
long-term portion of preference shares | |||||||||||||||||||
long-term portion of preference shares due to related parties | |||||||||||||||||||
deferred consideration for the acquisitions | |||||||||||||||||||
deferred consideration for the acquisitions due to related parties | |||||||||||||||||||
current assets | |||||||||||||||||||
cash | 469,707 | 329,245 | 137,347 | 597,268 | |||||||||||||||
receivable from related party | 6,946 | 6,946 | 6,229 | ||||||||||||||||
cash and marketable securities held in trust account | 78,757,615 | 77,838,232 | 147,256,712 | 144,964,309 | |||||||||||||||
interest receivable on cash and marketable securities held in trust account | 120,528 | 155,566 | 280,628 | 221,157 | |||||||||||||||
current liabilities | |||||||||||||||||||
payable to related party | 123,421 | 44,119 | 19,922 | ||||||||||||||||
notes payable to founders | 3,050,426 | 2,074,099 | |||||||||||||||||
accrued liabilities | 1,140,000 | 630,922 | 382,064 | 772,840 | |||||||||||||||
common stock subject to possible redemption, 7,182,567 and 14,309,217 shares as of september 30, 2019 and 2018, respectively, at a redemption value of 10.00 per share | 68,573,611 | ||||||||||||||||||
preferred stock, par value of 0.0001 per share; 1,000,000 shares authorized; none issued or outstanding | |||||||||||||||||||
common stock subject to possible redemption, 7,238,641 and 14,309,217 shares as of june 30, 2019 and september 30, 2018, respectively, at a redemption value of 10.00 per share | 69,134,351 | ||||||||||||||||||
common stock subject to possible redemption, 14,268,080 and 14,309,217 shares as of march 31, 2019 and september 30, 2018, respectively, at a redemption value of 10.00 per share | 139,428,740 | ||||||||||||||||||
common stock subject to possible redemption, 14,309,217 shares at a redemption value of 10.00 per share | 139,840,115 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||
net income | -9,089,000 | -9,964,000 | -57,845,000 | -11,674,000 | -15,837,000 | -13,172,000 | -7,293,000 | -11,859,000 | -4,487,000 | -10,358,000 | -4,526,000 | -5,333,000 | -8,128,000 | -8,823,000 | -560,733 | -114,030 | -247,272 | -164,103 |
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||
depreciation and amortization | 4,513,000 | 4,435,000 | 5,952,000 | 5,719,000 | 5,936,000 | 5,902,000 | 6,028,000 | 5,516,000 | 2,551,000 | 909,000 | 866,000 | 638,000 | 631,000 | 638,000 | ||||
stock-based compensation | 1,973,000 | 2,013,000 | 1,464,000 | 4,457,000 | 8,490,000 | 6,759,000 | ||||||||||||
write off of property and equipment | ||||||||||||||||||
impairment of intangible assets | ||||||||||||||||||
non-cash reduction to the right-of-use asset | -14,000 | 10,000 | ||||||||||||||||
benefit from doubtful accounts | 1,660,000 | 2,503,000 | 901,000 | 495,000 | 749,000 | 176,000 | -16,000 | -5,000 | 813,000 | |||||||||
realized gains on marketable securities | 8,000 | 8,000 | 7,000 | 6,000 | 4,000 | 5,000 | 13,000 | -4,000 | 23,000 | -2,000 | ||||||||
employee benefit obligation | 182,000 | 144,000 | -385,000 | 134,000 | 238,000 | 514,000 | 293,000 | 122,000 | 53,000 | 69,000 | 151,000 | 123,000 | 164,000 | 89,000 | ||||
change in fair value of warrant liability | 14,000 | 12,000 | -14,000 | -39,000 | -276,000 | -534,000 | -118,000 | -166,000 | -433,000 | 1,263,000 | ||||||||
non-cash interest expense | 562,000 | 528,000 | 551,000 | 483,000 | 524,000 | 490,000 | 509,000 | 420,000 | 210,000 | 115,000 | 40,000 | 34,000 | 45,000 | 72,000 | ||||
deferred taxes | -5,589,000 | 524,000 | -644,000 | 820,000 | -1,180,000 | -68,000 | -7,467,000 | 663,000 | -1,849,000 | -262,000 | -313,000 | -323,000 | ||||||
change in operating assets and liabilities: | ||||||||||||||||||
trade receivables | 7,658,000 | 481,000 | 28,000 | 7,374,000 | -16,329,000 | 3,010,000 | -4,144,000 | -5,476,000 | -7,699,000 | 440,000 | -1,399,000 | 128,000 | -917,000 | 1,710,000 | ||||
other current assets | -488,000 | -275,000 | -1,790,000 | 170,000 | 412,000 | 1,504,000 | 287,000 | -324,000 | -2,195,000 | -164,000 | -687,000 | -54,000 | 827,000 | 1,111,000 | ||||
deferred cost | -20,000 | -15,000 | 28,000 | -18,000 | -10,000 | 22,000 | ||||||||||||
operating lease liability | -1,000 | 3,000 | ||||||||||||||||
other long-term assets | -222,000 | -542,000 | 287,000 | -264,000 | -113,000 | -1,074,000 | -5,000 | -62,000 | -16,000 | 1,499,000 | -10,000 | -39,000 | 360,000 | -808,000 | ||||
accounts payable | -7,328,000 | -2,614,000 | 3,199,000 | 6,316,000 | 6,177,000 | -816,000 | -2,889,000 | 6,679,000 | 2,246,000 | -4,128,000 | 1,895,000 | -8,352,000 | 319,000 | -5,694,000 | 116,262 | 54,923 | -20,833 | 1,176,790 |
other current liabilities | -4,316,000 | 6,399,000 | -2,477,000 | 4,217,000 | -656,000 | 2,334,000 | 722,000 | 3,921,000 | 227,000 | -2,735,000 | 3,429,000 | -1,596,000 | 1,533,000 | 3,526,000 | -115,949 | -28,740 | 17,219 | -7,326 |
deferred revenue | -848,000 | -276,000 | -1,957,000 | -1,429,000 | 319,000 | -2,708,000 | -1,442,000 | 131,000 | 7,394,000 | -474,000 | 2,067,000 | -19,000 | -35,000 | 206,000 | ||||
long-term liabilities | 137,000 | -397,000 | 370,000 | -33,000 | -47,000 | -40,000 | -49,000 | 521,000 | -64,000 | -18,000 | -1,314,000 | 117,000 | -807,000 | 1,505,000 | ||||
net cash from operating activities | -5,078,000 | 2,453,000 | -7,877,000 | 16,438,000 | -11,063,000 | 3,192,000 | -4,015,000 | 5,196,000 | -4,906,000 | -8,207,000 | 1,692,000 | -9,593,000 | -1,569,000 | -2,852,000 | -338,937 | -516,459 | -602,542 | -495,083 |
capital expenditures | -2,150,000 | -2,037,000 | -1,923,000 | -2,854,000 | -2,592,000 | -2,876,000 | -3,093,000 | -2,180,000 | -951,000 | -859,000 | -378,000 | -1,178,000 | -1,045,000 | -820,000 | 0 | 0 | 0 | 0 |
free cash flows | -7,228,000 | 416,000 | -9,800,000 | 13,584,000 | -13,655,000 | 316,000 | -7,108,000 | 3,016,000 | -5,857,000 | -9,066,000 | 1,314,000 | -10,771,000 | -2,614,000 | -3,672,000 | -338,937 | -516,459 | -602,542 | -495,083 |
cash flows from investing activities: | ||||||||||||||||||
purchase of short-term investments | 0 | -46,000 | 0 | 0 | 0 | -1,165,000 | 0 | -50,342,000 | 4,000 | -2,997,000 | -1,741,000 | -3,179,000 | ||||||
sale of short-term investments | 26,000 | 36,000 | 30,195,000 | 20,000,000 | 0 | 546,000 | 341,000 | 2,774,000 | 0 | 5,041,000 | ||||||||
purchase of property and equipment | -657,000 | -231,000 | -343,000 | -792,000 | -422,000 | -544,000 | -1,015,000 | -665,000 | -86,000 | -91,000 | 555,000 | -475,000 | -405,000 | -89,000 | ||||
capitalized software development costs | -1,493,000 | -1,806,000 | -1,580,000 | -2,062,000 | -2,170,000 | -2,332,000 | -2,078,000 | -1,515,000 | -865,000 | -768,000 | -933,000 | -703,000 | -640,000 | -731,000 | ||||
purchase of intangible assets | 0 | 0 | -7,000 | -21,000 | -1,000 | -2,000 | 0 | 0 | 0 | -6,000 | ||||||||
acquisition of bandyer, net of cash acquired | 0 | 0 | -1,063,000 | 58,000 | 0 | |||||||||||||
net cash from investing activities | -2,142,000 | -2,083,000 | -1,897,000 | -2,818,000 | 2,787,000 | -3,983,000 | 27,095,000 | -45,484,000 | -198,543,000 | -315,000 | -33,000 | -1,401,000 | -2,786,000 | 1,052,000 | -496,928 | 70,252,117 | -1,021,911 | 222,115 |
cash flows from financing activities: | ||||||||||||||||||
proceeds from (repayments on) line of credit | 475,000 | -1,014,000 | 380,000 | 279,000 | 237,000 | |||||||||||||
repayments on term loans | -3,052,000 | -3,340,000 | -2,286,000 | -2,391,000 | -2,359,000 | -2,134,000 | -2,854,000 | -1,423,000 | -1,582,000 | -1,869,000 | -2,307,000 | -603,000 | -278,000 | -5,463,000 | ||||
repayments on notes | 0 | 0 | -3,750,000 | -3,750,000 | ||||||||||||||
repayments on capital lease | -50,000 | -48,000 | -183,000 | -13,000 | -17,000 | -29,000 | -35,000 | -37,000 | -29,000 | -37,000 | ||||||||
net cash from financing activities | -3,032,000 | -4,402,000 | -2,089,000 | 394,000 | -3,627,000 | -2,688,000 | -3,001,000 | -5,429,000 | 286,065,000 | 11,970,000 | -1,906,000 | 4,857,000 | 4,472,000 | 2,304,000 | 976,327 | -69,543,760 | ||
effect of exchange rate changes on cash, cash equivalents and restricted cash | -244,000 | 902,000 | -1,129,000 | -1,896,000 | -334,000 | -867,000 | 502,000 | -911,000 | 403,000 | 84,000 | -454,000 | |||||||
net decrease in cash, cash equivalents and restricted cash | -10,496,000 | -3,130,000 | ||||||||||||||||
cash, cash equivalents and restricted cash, beginning of period | 0 | 77,980,000 | 0 | 0 | 0 | 91,702,000 | 0 | 32,970,000 | 0 | 0 | 0 | 36,997,000 | ||||||
cash, cash equivalents and restricted cash, end of period | -10,496,000 | 74,850,000 | -8,995,000 | 12,885,000 | -13,799,000 | 87,889,000 | 83,118,000 | 35,507,000 | 1,456,000 | -5,734,000 | 201,000 | 37,047,000 | ||||||
supplemental disclosures of cash flow information: | ||||||||||||||||||
cash paid for interest | 6,428,000 | 351,000 | 6,287,000 | 173,000 | 368,000 | 221,000 | 289,000 | 295,000 | 153,000 | |||||||||
cash paid for income taxes | ||||||||||||||||||
non-cash investing and financing activities | ||||||||||||||||||
restricted stock units granted to employees for bonuses | ||||||||||||||||||
consideration payable | 0 | 488,000 | ||||||||||||||||
adoption of asc 326 | 0 | -1,270,000 | ||||||||||||||||
reversal of accrued interest on forward share purchase agreement | 0 | 0 | 0 | -659,000 | ||||||||||||||
acquisition of mgage, net of cash acquired | 0 | 363,000 | ||||||||||||||||
borrowings on term loans | 0 | 0 | -1,000 | 15,637,000 | 0 | 8,800,000 | ||||||||||||
proceeds from issuance of convertible notes, net of issuance costs | 0 | 0 | ||||||||||||||||
receipts related to forward share purchase agreements | ||||||||||||||||||
proceeds from issuance of common stock in private investment in public equity offering (pipe), net of issuance costs | 0 | |||||||||||||||||
proceeds related to settlement of non-forfeited 2020 sponsor earnout shares | 0 | 0 | 0 | 1,244,000 | ||||||||||||||
proceeds from exercise of common stock warrants | ||||||||||||||||||
repurchase of warrants | 0 | |||||||||||||||||
effect of exchange rate changes on cash, cash equivalent and restricted cash | ||||||||||||||||||
net increase in cash, cash equivalents and restricted cash | -8,995,000 | 12,885,000 | -13,799,000 | -3,813,000 | 83,118,000 | 2,537,000 | 1,456,000 | -5,734,000 | 201,000 | 50,000 | ||||||||
supplemental disclosure of cash flow information: | ||||||||||||||||||
non-cash investing and financing activities: | ||||||||||||||||||
change in value of forward share purchase agreements | -483,000 | 3,000 | 0 | -1,942,000 | 271,000 | |||||||||||||
common stock issued to vivial equity holders | ||||||||||||||||||
stock-based compensation related to capitalized software development costs | ||||||||||||||||||
conversion of convertible note to common stock | ||||||||||||||||||
fair value of warrant liability | ||||||||||||||||||
asset acquired under capital leases | ||||||||||||||||||
initial recognition of the lease at commencement | ||||||||||||||||||
proceeds from issuance of common stock in private investment in public equity offering, net of issuance costs | ||||||||||||||||||
proceeds from the exercise of common stock warrants | 0 | |||||||||||||||||
repayments on line of credit | -525,000 | |||||||||||||||||
stock-based compensation capitalized as software development costs | ||||||||||||||||||
receivable for proceeds from the exercise of warrants | ||||||||||||||||||
stock-based compensation, preference shares and others | 4,901,000 | 5,820,000 | 4,710,000 | 4,560,000 | ||||||||||||||
non-cash settlement of preference share liability | 0 | 0 | 0 | -2,486,000 | ||||||||||||||
benefit from (recovery of) doubtful accounts | ||||||||||||||||||
sale of property and equipment | 0 | 0 | 0 | 16,000 | ||||||||||||||
proceeds from line of credit | ||||||||||||||||||
repurchase of common stock in connection with forward share purchase agreements | 0 | -6,213,000 | -21,631,000 | -2,587,000 | ||||||||||||||
receipts (payments) related to forward share purchase agreements | 0 | 0 | 0 | 17,045,000 | ||||||||||||||
proceeds from issuance of stock in public offering, net of issuance costs | 0 | 3,472,000 | ||||||||||||||||
common stock issued to settle payables | ||||||||||||||||||
note payable issued to settle payables | ||||||||||||||||||
deferred costs | 41,000 | |||||||||||||||||
proceeds from issuance of common stock in public offering, net of issuance costs | ||||||||||||||||||
proceeds from (repayments on) in line of credit | -663,000 | |||||||||||||||||
common stock issued to settle a payable | 0 | 2,700,000 | 423,000 | |||||||||||||||
note payable issued to settle a payable | 0 | 2,700,000 | 400,000 | |||||||||||||||
cash, cash equivalents and restricted cash acquired in the reverse merger | ||||||||||||||||||
payments of deferred consideration for the acquisition of buc mobile | ||||||||||||||||||
payments of deferred consideration for the acquisition of solutions infini | ||||||||||||||||||
change in line of credit | 528,000 | -604,000 | -368,000 | 1,721,000 | ||||||||||||||
payments related to forward share purchase agreements | 0 | -832,000 | -453,000 | -167,000 | ||||||||||||||
stock-based compensation, preference share and unpaid bonuses | 4,922,000 | |||||||||||||||||
allowance for doubtful accounts | 100,000 | -73,000 | 117,000 | |||||||||||||||
payment of deferred consideration for the acquisition of buc mobile | ||||||||||||||||||
payment of deferred consideration for the acquisition of solutions infini | ||||||||||||||||||
repayments on notes payable | -6,000,000 | |||||||||||||||||
non-cash financing activities: | ||||||||||||||||||
issuance costs for public offering included in accounts payable | ||||||||||||||||||
stock-based compensation and preference share liability | 6,308,000 | |||||||||||||||||
stock-based compensation and preference shares | ||||||||||||||||||
loss on equity investments | ||||||||||||||||||
purchases of marketable securities | ||||||||||||||||||
sales of marketable securities | ||||||||||||||||||
purchases of property and equipment | ||||||||||||||||||
sales of property and equipment | ||||||||||||||||||
purchases of intangible assets | ||||||||||||||||||
acquisition of buc mobile, net of cash acquired | ||||||||||||||||||
acquisition of solutions infini, net of cash acquired | ||||||||||||||||||
payment of deferred consideration in relation to the acquisition of buc mobile | ||||||||||||||||||
payment of deferred consideration in relation to the acquisition of solutions infini | ||||||||||||||||||
borrowings on term loan | ||||||||||||||||||
repayments on term loan | ||||||||||||||||||
proceeds from exercise of stock options | ||||||||||||||||||
cash, cash equivalents and restricted cash at beginning of year | ||||||||||||||||||
cash, cash equivalents and restricted cash at end of year | ||||||||||||||||||
supplemental disclosures of other cash flow information: | ||||||||||||||||||
operating activities | ||||||||||||||||||
interest earned on cash and marketable securities held in trust account | -422,455 | -612,480 | -786,533 | -706,074 | ||||||||||||||
interest receivable on cash and marketable securities held in trust account | 35,038 | -96,095 | -18,359 | -41,112 | ||||||||||||||
receivable from related party | 0 | -6,946 | 4,063 | 2,166 | ||||||||||||||
prepaid expenses | 20,520 | 13,854 | 47,187 | 17,416 | ||||||||||||||
payable to related party | 79,302 | 24,197 | ||||||||||||||||
accrued liabilities | 509,078 | 248,858 | 382,064 | -772,840 | ||||||||||||||
investing activities | ||||||||||||||||||
investment of cash in trust account | -720,000 | -240,000 | ||||||||||||||||
interest income used to pay taxes | 223,072 | |||||||||||||||||
cash withdrawn from trust account | 0 | 69,542,655 | 415,589 | 222,115 | ||||||||||||||
financing activities | ||||||||||||||||||
proceeds from sale of units, net of underwriting discounts paid | ||||||||||||||||||
proceeds from sale of private placement units | ||||||||||||||||||
proceeds from the sale of founder shares | ||||||||||||||||||
redemption of public shares | ||||||||||||||||||
notes payable to founders | ||||||||||||||||||
repayment of notes payable to founders | ||||||||||||||||||
payment of deferred offering costs | ||||||||||||||||||
net change in cash and cash equivalents | 140,462 | 191,898 | -186,953 | -272,968 | ||||||||||||||
cash and cash equivalents, beginning of period | 0 | 0 | 0 | 597,268 | ||||||||||||||
cash and cash equivalents, end of period | 140,462 | 191,898 | -186,953 | 324,300 | ||||||||||||||
supplemental disclosure of noncash investing activities | ||||||||||||||||||
change in value of common stock subject to possible redemption | -1,611,550 | 936,780 | -247,272 | -164,103 | ||||||||||||||
proceeds from sale of private placement shares | ||||||||||||||||||
promissory notes from related parties | ||||||||||||||||||
repayment of promissory notes from related parties | ||||||||||||||||||
redemption of common stock | ||||||||||||||||||
promissory notes issued in conjunction with extension | ||||||||||||||||||
promissory notes for extension | ||||||||||||||||||
restricted cash | ||||||||||||||||||
interest earned on marketable securities held in trust account |