Matterport, Inc.(NASDAQ:MTTR) 
Matterport, Inc., a spatial data company, focuses on digitizing and indexing the built world. It offers Matterport digital twins, a 3D data platform to design, build, operate, promote, and understand spaces. The company offers Matterport Capture, an application that enables to capture depth, data, a...
Website: http://matterport.com
Founded: 2011
CEO: RJ Pittman
Sector: Technology
Industry: Software—Application
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue: | ||||||||||||||
subscription | 26,055,000 | 25,365,000 | 24,155,000 | 24,015,000 | 23,673,000 | 22,850,000 | 20,868,000 | 19,847,000 | 19,281,000 | 18,981,000 | 18,386,000 | 17,141,000 | 16,517,000 | 15,677,000 |
services | 10,195,000 | 11,085,000 | 10,881,000 | 9,103,000 | 8,297,000 | 9,936,000 | 10,684,000 | 8,704,000 | 8,267,000 | 10,015,000 | 5,013,000 | 3,973,000 | 3,732,000 | 3,292,000 |
product | 7,568,000 | 7,343,000 | 7,180,000 | 6,754,000 | 7,547,000 | 7,828,000 | 7,988,000 | 9,416,000 | 13,566,000 | 8,976,000 | 5,056,000 | 7,373,000 | 6,554,000 | 8,568,000 |
total revenue | 43,818,000 | 43,793,000 | 42,216,000 | 39,872,000 | 39,545,000 | 40,642,000 | 39,567,000 | 37,994,000 | 41,141,000 | 37,993,000 | 28,481,000 | 28,510,000 | 27,087,000 | 27,655,000 |
yoy | 10.81% | 7.75% | 6.69% | 4.94% | -3.88% | 6.97% | 38.92% | 33.27% | 51.88% | 37.38% | ||||
qoq | 0.06% | 3.74% | 5.88% | 0.83% | -2.70% | 2.72% | 4.14% | -7.65% | 8.29% | 33.40% | -0.10% | 5.25% | -2.05% | |
cost of revenue: | ||||||||||||||
total cost of revenue | 21,577,000 | 22,093,000 | 22,836,000 | 20,280,000 | 21,327,000 | 20,745,000 | 23,604,000 | 21,582,000 | 29,308,000 | 21,602,000 | 16,768,000 | 16,601,000 | 15,839,000 | 13,474,000 |
gross profit | 22,241,000 | 21,700,000 | 19,380,000 | 19,592,000 | 18,218,000 | 19,897,000 | 15,963,000 | 16,412,000 | 11,833,000 | 16,391,000 | 11,713,000 | 11,909,000 | 11,248,000 | 14,181,000 |
yoy | 22.08% | 9.06% | 21.41% | 19.38% | 53.96% | 21.39% | 36.28% | 37.81% | 5.20% | 15.58% | ||||
qoq | 2.49% | 11.97% | -1.08% | 7.54% | -8.44% | 24.64% | -2.74% | 38.70% | -27.81% | 39.94% | -1.65% | 5.88% | -20.68% | |
gross margin % | 50.76% | 49.55% | 45.91% | 49.14% | 46.07% | 48.96% | 40.34% | 43.20% | 28.76% | 43.14% | 41.13% | 41.77% | 41.53% | 51.28% |
operating expenses: | ||||||||||||||
research and development | 15,410,000 | 15,261,000 | 15,360,000 | 14,900,000 | 14,594,000 | 15,577,000 | 18,861,000 | 18,273,000 | 18,421,000 | 19,084,000 | 21,518,000 | 26,002,000 | 27,780,000 | 14,484,000 |
selling, general, and administrative | 50,767,000 | 50,464,000 | 54,129,000 | 45,476,000 | 52,764,000 | 53,719,000 | 56,008,000 | 54,933,000 | 55,779,000 | 56,293,000 | 59,385,000 | 70,849,000 | 78,748,000 | 44,053,000 |
litigation expense | 95,000,000 | |||||||||||||
total operating expenses | 66,177,000 | 65,725,000 | 164,489,000 | 60,376,000 | 67,358,000 | 69,296,000 | 74,869,000 | 73,206,000 | 74,200,000 | 75,377,000 | 80,903,000 | 96,851,000 | 106,528,000 | 58,537,000 |
income from operations | -43,936,000 | -44,025,000 | -145,109,000 | -40,784,000 | -49,140,000 | -49,399,000 | -58,906,000 | -56,794,000 | -62,367,000 | -58,986,000 | -69,190,000 | -84,942,000 | -95,280,000 | -44,356,000 |
yoy | -10.59% | -10.88% | 146.34% | -28.19% | -21.21% | -16.25% | -14.86% | -33.14% | -34.54% | 32.98% | ||||
qoq | -0.20% | -69.66% | 255.80% | -17.00% | -0.52% | -16.14% | 3.72% | -8.94% | 5.73% | -14.75% | -18.54% | -10.85% | 114.81% | |
operating margin % | -100.27% | -100.53% | -343.73% | -102.29% | -124.26% | -121.55% | -148.88% | -149.48% | -151.59% | -155.25% | -242.93% | -297.94% | -351.76% | -160.39% |
other income: | ||||||||||||||
interest income | 3,510,000 | 3,211,000 | 2,623,000 | 2,264,000 | 1,881,000 | 1,573,000 | 1,481,000 | 1,471,000 | 1,810,000 | 1,691,000 | 1,484,000 | 1,295,000 | 1,239,000 | 550,000 |
change in fair value of warrants liability | 62,000 | 169,000 | -944,000 | -120,000 | -51,000 | 513,000 | -171,000 | 222,000 | ||||||
other income | -197,000 | 2,311,000 | 1,898,000 | 2,553,000 | 3,352,000 | 2,669,000 | 1,223,000 | 1,183,000 | -314,000 | -981,000 | -1,353,000 | -1,321,000 | -1,069,000 | -839,000 |
total other income | 3,375,000 | 5,691,000 | 3,577,000 | 4,697,000 | 5,182,000 | 4,755,000 | 2,533,000 | 2,876,000 | 2,384,000 | 710,000 | 4,845,000 | 157,450,000 | ||
income before benefit from income taxes | -53,988,250 | -38,334,000 | -141,532,000 | -36,087,000 | -38,733,750 | -44,644,000 | -56,373,000 | -53,918,000 | -12,528,250 | -58,276,000 | -64,345,000 | 72,508,000 | -44,249,250 | -167,955,000 |
benefit from income taxes | -55,000 | 67,000 | 54,000 | 41,000 | 49,250 | 110,000 | 163,000 | -76,000 | 219,000 | -17,000 | 289,000 | 604,000 | 18,250 | 34,000 |
net income | -40,506,000 | -38,401,000 | -141,586,000 | -36,128,000 | -43,945,000 | -44,754,000 | -56,536,000 | -53,842,000 | -60,350,000 | -58,259,000 | -64,634,000 | 71,904,000 | -160,990,000 | -167,989,000 |
yoy | -7.83% | -14.20% | 150.44% | -32.90% | -27.18% | -23.18% | -12.53% | -174.88% | -62.51% | -65.32% | ||||
qoq | 5.48% | -72.88% | 291.90% | -17.79% | -1.81% | -20.84% | 5.00% | -10.78% | 3.59% | -9.86% | -189.89% | -144.66% | -4.17% | |
net income margin % | -92.44% | -87.69% | -335.38% | -90.61% | -111.13% | -110.12% | -142.89% | -141.71% | -146.69% | -153.34% | -226.94% | 252.21% | -594.34% | -607.45% |
net income per share | -0.12 | -0.12 | -0.45 | -0.12 | -0.14 | -0.15 | -0.21 | -0.2 | -0.68 | -0.86 | ||||
weighted-average shares used for eps calculation | 319,015 | 321,151 | 316,801 | 313,008 | 300,697 | 303,432 | 283,585 | 286,458 | 131,278 | 196,478 | ||||
license | 28,000 | 28,000 | 27,000 | 27,000 | 27,000 | 21,000 | 26,000 | 23,000 | 284,000 | 118,000 | ||||
change in fair value of contingent earn-out liability | 136,043,000 | -41,976,000 | -98,478,000 | |||||||||||
net income per share | -0.12 | -0.12 | -0.45 | -0.12 | -0.14 | -0.15 | -0.21 | -0.2 | -0.68 | -0.86 | ||||
basic | -0.19 | -0.18 | -0.23 | 0.26 | ||||||||||
diluted | -0.19 | -0.18 | -0.23 | 0.23 | ||||||||||
weighted-average shares used for eps calculation | 319,015 | 321,151 | 316,801 | 313,008 | 300,697 | 303,432 | 283,585 | 286,458 | 131,278 | 196,478 | ||||
basic | 298,096 | 293,074 | 283,405 | 275,199 | ||||||||||
diluted | 298,096 | 293,074 | 283,405 | 312,432 | ||||||||||
interest expense | -91,000 | |||||||||||||
transaction costs | -565,000 | |||||||||||||
change in fair value of warrants liabilities | 888,000 | 4,714,000 | 21,433,000 | -24,194,000 | -24,176,000 | |||||||||
total expense | -66,000,000 | -123,599,000 | ||||||||||||
less: income allocated to preferred stockholders | ||||||||||||||
net income attributable to common stockholders | -44,267,500 | -167,989,000 | ||||||||||||
other comprehensive income, net of tax: | ||||||||||||||
foreign currency translation gain | -19.75 | -16 | ||||||||||||
unrealized loss on available-for-sale securities, net of tax | -23.5 | -182 | ||||||||||||
comprehensive income | -44,310.75 | -168,187 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||
current assets: | ||||||||||||||||
cash and cash equivalents | 57,228,000 | 63,358,000 | 126,284,000 | 79,449,000 | 82,902,000 | 80,142,000 | 82,316,000 | 144,315,000 | 117,128,000 | 81,852,000 | 113,923,000 | 92,996,000 | 139,519,000 | 148,853,000 | 381,644 | |
restricted cash | 96,330,000 | 95,182,000 | 468,000 | 468,000 | ||||||||||||
short-term investments | 189,372,000 | 206,818,000 | 237,852,000 | 249,917,000 | 305,264,000 | 327,682,000 | 363,295,000 | 311,884,000 | 355,815,000 | 405,599,000 | 362,300,000 | 308,813,000 | 264,931,000 | 174,168,000 | ||
accounts receivable | 13,180,000 | 14,918,000 | 17,261,000 | 18,473,000 | 16,925,000 | 17,205,000 | 18,649,000 | 21,817,000 | 20,844,000 | 19,515,000 | 14,521,000 | 15,088,000 | 10,879,000 | 9,572,000 | ||
inventories | 5,576,000 | 7,582,000 | 8,765,000 | 8,457,000 | 9,115,000 | 12,342,000 | 12,198,000 | 11,002,000 | 11,061,000 | 11,677,000 | 6,475,000 | 5,166,000 | 5,593,000 | 3,989,000 | ||
prepaid expenses and other current assets | 8,723,000 | 9,145,000 | 8,135,000 | 8,880,000 | 8,635,000 | 8,929,000 | 7,236,000 | 10,724,000 | 13,084,000 | 17,136,000 | 15,377,000 | 14,213,000 | 16,313,000 | 11,395,000 | ||
total current assets | 370,409,000 | 397,003,000 | 398,297,000 | 365,176,000 | 422,841,000 | 446,300,000 | 483,694,000 | 499,742,000 | 517,932,000 | 535,779,000 | 512,596,000 | 436,276,000 | 437,703,000 | 348,445,000 | 1,078,078 | |
property and equipment | 29,718,000 | 30,356,000 | 31,060,000 | 31,808,000 | 32,471,000 | 32,821,000 | 32,684,000 | 31,701,000 | 30,559,000 | 28,555,000 | 25,750,000 | 21,946,000 | 14,118,000 | 11,377,000 | ||
operating lease right-of-use assets | 91,000 | 226,000 | 360,000 | 493,000 | 625,000 | 1,547,000 | 1,933,000 | 2,225,000 | 2,515,000 | 2,802,000 | 3,087,000 | 3,369,000 | ||||
long-term investments | 57,611,000 | 39,824,000 | 47,191,000 | 89,409,000 | 34,834,000 | 21,881,000 | 3,959,000 | 7,737,000 | 85,842,000 | 198,178,000 | 263,659,000 | 290,900,000 | ||||
goodwill | 69,593,000 | 69,593,000 | 69,593,000 | 69,593,000 | 69,593,000 | 69,593,000 | 69,593,000 | 69,593,000 | 69,593,000 | 69,593,000 | 54,080,000 | 54,080,000 | ||||
intangible assets | 7,350,000 | 7,792,000 | 8,235,000 | 8,677,000 | 9,120,000 | 9,562,000 | 10,005,000 | 10,447,000 | 10,890,000 | 11,332,000 | 4,875,000 | 5,140,000 | ||||
other assets | 8,896,000 | 8,129,000 | 7,655,000 | 7,651,000 | 7,671,000 | 7,502,000 | 6,819,000 | 5,825,000 | 4,947,000 | 4,615,000 | 3,302,000 | 2,912,000 | 3,696,000 | 2,716,000 | ||
total assets | 543,668,000 | 552,923,000 | 562,391,000 | 572,807,000 | 577,155,000 | 589,206,000 | 604,728,000 | 619,533,000 | 640,395,000 | 660,413,000 | 689,532,000 | 721,901,000 | 719,176,000 | 653,438,000 | 346,109,012 | |
liabilities and stockholders’ equity | ||||||||||||||||
current liabilities | ||||||||||||||||
accounts payable | 9,254,000 | 7,812,000 | 9,672,000 | 6,929,000 | 7,586,000 | 8,594,000 | 8,162,000 | 6,044,000 | 8,331,000 | 9,456,000 | 14,685,000 | 13,089,000 | 12,227,000 | 6,848,000 | ||
deferred revenue | 27,861,000 | 26,885,000 | 27,328,000 | 26,304,000 | 23,294,000 | 22,163,000 | 21,037,000 | 18,284,000 | 16,731,000 | 14,553,000 | 14,302,000 | 14,270,000 | 11,074,000 | 8,903,000 | ||
accrued expenses and other current liabilities | 106,613,000 | 108,308,000 | 108,673,000 | 13,354,000 | 13,354,000 | 15,344,000 | 20,636,000 | 21,900,000 | 23,916,000 | 22,500,000 | 21,228,000 | 21,763,000 | 10,026,000 | 8,781,000 | ||
total current liabilities | 143,728,000 | 143,005,000 | 145,673,000 | 46,587,000 | 44,234,000 | 46,101,000 | 49,835,000 | 46,228,000 | 48,978,000 | 46,509,000 | 50,215,000 | 49,122,000 | 33,327,000 | 24,532,000 | 72,796,936 | |
warrants liability | 1,123,000 | 1,185,000 | 1,354,000 | 410,000 | 290,000 | 239,000 | 752,000 | 581,000 | 803,000 | 1,691,000 | 1,691,000 | 6,405,000 | 38,974,000 | |||
deferred revenue, non-current | 1,674,000 | 1,969,000 | 2,405,000 | 2,803,000 | 3,141,000 | 2,296,000 | 1,820,000 | 1,489,000 | 1,201,000 | 562,000 | 288,000 | 288,000 | 874,000 | 210,000 | ||
other long-term liabilities | 206,000 | 514,000 | 819,000 | 1,155,000 | 5,502,000 | 5,824,000 | 6,131,000 | 6,448,000 | 262,000 | 278,000 | ||||||
total liabilities | 146,525,000 | 146,159,000 | 149,432,000 | 49,800,000 | 47,871,000 | 49,150,000 | 53,226,000 | 49,453,000 | 56,484,000 | 54,586,000 | 58,325,000 | 62,263,000 | 451,013,000 | 447,712,000 | 84,871,936 | |
commitments and contingencies | ||||||||||||||||
redeemable convertible preferred stock, 0.0001 par value... | ||||||||||||||||
stockholders’ equity: | ||||||||||||||||
common stock, 0.0001 par value... | 33,000 | 32,000 | 32,000 | 31,000 | 31,000 | 31,000 | 30,000 | 30,000 | 29,000 | 29,000 | 28,000 | 28,000 | 25,000 | 24,000 | ||
additional paid-in capital | 1,432,064,000 | 1,400,614,000 | 1,369,619,000 | 1,337,794,000 | 1,307,324,000 | 1,275,153,000 | 1,242,360,000 | 1,206,100,000 | 1,168,313,000 | 1,132,423,000 | 1,099,617,000 | 1,061,938,000 | 737,735,000 | 512,808,000 | ||
accumulated other comprehensive income | 141,000 | 707,000 | -504,000 | -216,000 | 403,000 | -1,539,000 | -38,000 | |||||||||
accumulated deficit | -1,035,095,000 | -994,589,000 | -956,188,000 | -814,602,000 | -778,474,000 | -734,529,000 | -689,775,000 | -633,239,000 | -579,397,000 | -519,047,000 | -460,788,000 | -396,154,000 | -468,058,000 | -307,068,000 | -83,763,787 | |
total stockholders’ equity | 397,143,000 | 406,764,000 | 412,959,000 | 523,007,000 | 529,284,000 | 540,056,000 | 551,502,000 | 570,080,000 | 583,911,000 | 605,827,000 | 631,207,000 | 659,638,000 | 268,163,000 | 205,726,000 | -83,762,924 | |
total liabilities and stockholders’ equity | 543,668,000 | 552,923,000 | 562,391,000 | 572,807,000 | 577,155,000 | 589,206,000 | 604,728,000 | 619,533,000 | 640,395,000 | 660,413,000 | 689,532,000 | 721,901,000 | 346,109,012 | |||
accumulated other comprehensive loss | -599,000 | -1,113,000 | -2,811,000 | -5,034,000 | -7,578,000 | -7,650,000 | -6,174,000 | |||||||||
contingent earn-out liability | 377,576,000 | 334,389,000 | ||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders’ equity | ||||||||||||||||
current portion of long-term debt | ||||||||||||||||
long-term debt | ||||||||||||||||
stockholders’ equity | ||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders’ equity | 719,176,000 | 653,438,000 | ||||||||||||||
public warrants liability | 53,682,000 | |||||||||||||||
private warrants liability | 34,621,000 | |||||||||||||||
prepaid assets | 696,434 | |||||||||||||||
deferred tax asset | ||||||||||||||||
investments and cash held in trust account | 345,030,934 | |||||||||||||||
current liabilities: | ||||||||||||||||
accrued expenses, formation and offering costs | 3,632,513 | |||||||||||||||
related party note | 1,100,000 | |||||||||||||||
state franchise tax accrual | 77,923 | |||||||||||||||
public warrants derivative liability | 41,331,000 | |||||||||||||||
private warrants derivative liability | 26,655,500 | |||||||||||||||
deferred underwriting compensation | 12,075,000 | |||||||||||||||
class a common stock | 345,000,000 | |||||||||||||||
preferred stock, 0.0001 par value... | ||||||||||||||||
common stock | ||||||||||||||||
class a common stock, 0.0001 par value... | ||||||||||||||||
class f common stock, 0.0001 par value... | 863 | |||||||||||||||
additional paid-in-capital | ||||||||||||||||
basic and diluted net income/(loss) per share: | ||||||||||||||||
numerator: | ||||||||||||||||
allocation of net income/ | ||||||||||||||||
denominator: | ||||||||||||||||
weighted-average shares outstanding | 345,000,008,625,000 | |||||||||||||||
basic and diluted net income/(loss) per share | ||||||||||||||||
gross proceeds | 345,000,000 | |||||||||||||||
less: | ||||||||||||||||
proceeds allocated to public warrants | -10,557,000 | |||||||||||||||
class a shares issuance costs | -19,266,180 | |||||||||||||||
plus: | ||||||||||||||||
accretion of carrying value to redemption value | -29,823,180 | |||||||||||||||
contingently redeemable class a common stock | 345,000,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | ||||||||||||||
net income | -40,506,000 | -38,401,000 | -141,586,000 | -36,128,000 | -43,945,000 | -44,754,000 | -56,536,000 | -53,842,000 | -60,350,000 | -58,259,000 | -64,634,000 | 71,904,000 | -160,990,000 | -29,974,034 |
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||
depreciation and amortization | 5,958,000 | 5,891,000 | 5,817,000 | 5,576,000 | 5,307,000 | 5,028,000 | 4,711,000 | 4,391,000 | 4,060,000 | 3,674,000 | 3,100,000 | 2,463,000 | 1,703,000 | |
amortization of investment premiums, net of accretion of discounts | -3,408,000 | -3,192,000 | -1,638,000 | -681,000 | 407,000 | 688,000 | 875,000 | 954,000 | 957,000 | |||||
investment impairment | ||||||||||||||
stock-based compensation, net of amounts capitalized | 28,234,000 | 28,392,000 | 28,478,000 | 27,951,000 | 28,101,000 | 27,421,000 | 32,179,000 | 31,074,000 | 31,752,000 | 29,505,000 | 31,956,000 | 55,277,000 | 68,608,000 | |
cease use of certain leased facilities | 838,000 | |||||||||||||
change in fair value of warrants liability | -62,000 | -169,000 | 944,000 | 120,000 | 51,000 | -513,000 | 171,000 | -222,000 | ||||||
change in fair value of contingent earn-out liability | 0 | 0 | 0 | -136,043,000 | 41,976,000 | |||||||||
deferred income taxes | 64,000 | 0 | -1,000 | -184,000 | 78,000 | -96,000 | 296,000 | -227,000 | ||||||
allowance for doubtful accounts | 174,000 | 260,000 | 506,000 | -241,000 | 451,000 | 101,000 | -240,000 | 289,000 | 902,000 | 148,000 | 4,000 | 191,000 | -238,000 | |
loss of excess inventory and purchase obligation | 229,000 | 0 | 970,000 | 622,000 | ||||||||||
other | 435,000 | -337,000 | 122,000 | 154,000 | -125,000 | 165,000 | 156,000 | -381,000 | -876,000 | 365,000 | 271,000 | 45,000 | -295,000 | |
changes in operating assets and liabilities, net of effects of businesses acquired: | ||||||||||||||
accounts receivable | 1,564,000 | 2,084,000 | 706,000 | -1,308,000 | -171,000 | 1,343,000 | 3,407,000 | -1,261,000 | -2,230,000 | -3,953,000 | 562,000 | -3,988,000 | -1,070,000 | |
inventories | 2,007,000 | 1,182,000 | -308,000 | 658,000 | 3,003,000 | -1,046,000 | -2,529,000 | -3,258,000 | -349,000 | -5,254,000 | -1,308,000 | 427,000 | -1,604,000 | |
prepaid expenses and other assets | 21,000 | -1,028,000 | 1,203,000 | 481,000 | 545,000 | -1,761,000 | 2,944,000 | 1,308,000 | 3,357,000 | -2,402,000 | -1,375,000 | -1,571,000 | -52,000 | |
accounts payable | 1,392,000 | -1,860,000 | 2,743,000 | -657,000 | -1,008,000 | 432,000 | 2,118,000 | -2,287,000 | -1,086,000 | -6,521,000 | 1,708,000 | 659,000 | 5,385,000 | |
deferred revenue | 681,000 | -879,000 | 626,000 | 2,672,000 | 1,976,000 | 1,602,000 | 3,084,000 | 1,841,000 | 2,818,000 | 526,000 | 31,000 | 2,610,000 | 3,099,000 | |
accrued expenses and other liabilities | -1,696,000 | -363,000 | 95,315,000 | -202,000 | -2,304,000 | -427,000 | -1,237,000 | 2,193,000 | -2,899,000 | 499,000 | 428,000 | 3,254,000 | 995,000 | |
net cash from operating activities | -2,678,000 | -6,865,000 | -7,927,000 | -3,843,000 | -10,396,000 | -15,478,000 | -12,441,000 | -20,398,000 | -19,204,000 | -41,080,000 | -32,800,000 | -25,478,000 | -17,717,000 | -1,034,834 |
capital expenditures | -2,550,000 | -2,454,000 | -2,350,000 | -2,212,000 | -2,264,000 | -2,291,000 | -2,695,000 | -2,654,000 | -3,013,000 | -3,355,000 | -3,908,000 | -4,044,000 | -2,241,000 | 0 |
free cash flows | -5,228,000 | -9,319,000 | -10,277,000 | -6,055,000 | -12,660,000 | -17,769,000 | -15,136,000 | -23,052,000 | -22,217,000 | -44,435,000 | -36,708,000 | -29,522,000 | -19,958,000 | -1,034,834 |
cash flows from investing activities: | ||||||||||||||
purchases of property and equipment | -76,000 | -98,000 | -29,000 | -43,000 | -27,000 | -11,000 | -14,000 | -87,000 | -313,000 | -551,000 | -418,000 | -448,000 | -274,000 | |
capitalized software and development costs | -2,474,000 | -2,356,000 | -2,321,000 | -2,169,000 | -2,237,000 | -2,280,000 | -2,681,000 | -2,567,000 | -2,700,000 | -2,804,000 | -3,490,000 | -3,596,000 | -1,967,000 | |
purchase of investments | -53,258,000 | -30,074,000 | -27,839,000 | -99,609,000 | -76,576,000 | -116,516,000 | -194,026,000 | -57,577,000 | -49,634,000 | 0 | -57,619,000 | -30,378,000 | -66,095,000 | |
maturities of investments | 53,000,000 | 71,000,000 | 84,000,000 | 102,106,000 | 90,052,000 | 133,600,000 | 145,795,000 | 108,806,000 | 104,761,000 | 34,117,000 | 113,924,000 | 46,200,000 | ||
business acquisitions, net of cash acquired | 0 | -2,440,000 | 0 | -1,676,000 | 0 | -21,854,000 | 0 | -30,020,000 | ||||||
net cash from investing activities | -2,808,000 | 38,472,000 | 53,811,000 | 285,000 | 11,212,000 | 12,353,000 | -50,926,000 | 46,899,000 | 52,114,000 | 8,908,000 | 52,397,000 | -18,242,000 | -68,586,000 | -13,707 |
cash flow from financing activities: | ||||||||||||||
proceeds from sales of shares through employee equity incentive plans | 1,815,000 | 1,114,000 | 1,489,000 | 400,000 | ||||||||||
payments for taxes related to net settlement of equity awards | 0 | 0 | 0 | -329,000 | 0 | 0 | -1,087,000 | -33,337,000 | ||||||
proceeds from exercise of warrants | 0 | 0 | 0 | 27,844,000 | ||||||||||
net cash from financing activities | 939,000 | 312,000 | 1,073,000 | 259,000 | 1,815,000 | 1,114,000 | 1,509,000 | 357,000 | 1,489,000 | 400,000 | 1,614,000 | -3,226,000 | 76,779,000 | 591,870 |
net change in cash, cash equivalents, and restricted cash | -4,547,000 | 2,631,000 | -2,011,000 | -61,858,000 | 26,858,000 | 34,399,000 | -31,772,000 | 21,211,000 | -46,946,000 | -9,524,000 | ||||
effect of exchange rate changes on cash | -435,000 | 337,000 | -122,000 | -154,000 | 129,000 | -163,000 | -141,000 | 329,000 | 877,000 | -299,000 | -284,000 | -45,000 | 190,000 | |
cash, cash equivalents, and restricted cash at beginning of year | 0 | 0 | 0 | 0 | 117,128,000 | 0 | 0 | 0 | 139,987,000 | 0 | ||||
cash, cash equivalents, and restricted cash at end of period | -4,982,000 | 2,760,000 | -2,174,000 | -61,999,000 | 144,315,000 | 35,276,000 | -32,071,000 | 20,927,000 | 92,996,000 | -9,334,000 | ||||
supplemental disclosures of cash flow information | ||||||||||||||
cash paid for taxes | ||||||||||||||
supplemental disclosures of non-cash investing and financing information | ||||||||||||||
earn-out liability recognized upon the re-allocation | 0 | 0 | 0 | 896,000 | ||||||||||
reclassification of remaining contingent earn-out liability upon triggering events | -1,000 | 0 | 0 | 242,430,000 | ||||||||||
common stock issued in connection with acquisition | 0 | 1,827,000 | 0 | 3,921,000 | 0 | 101,000 | 0 | 19,118,000 | ||||||
unpaid cash consideration in connection with acquisition | 0 | 2,434,000 | 0 | 0 | 0 | 4,348,000 | ||||||||
accretion of discounts, net of amortization of investment premiums | -1,637,000 | -2,493,000 | -2,919,000 | |||||||||||
income from excess inventory and purchase obligation | ||||||||||||||
proceeds from the sales of shares through employee equity incentive plans | 312,000 | 1,073,000 | 259,000 | |||||||||||
net change in cash and cash equivalents | 46,957,000 | -3,299,000 | ||||||||||||
cash and cash equivalents, at beginning of year | 0 | 82,902,000 | ||||||||||||
cash and cash equivalents, at end of period | 46,835,000 | 79,449,000 | ||||||||||||
amortization of debt discount | 0 | |||||||||||||
transaction costs | 0 | |||||||||||||
loss on extinguishment of debt and convertible notes | 0 | |||||||||||||
investment in convertible notes | 0 | |||||||||||||
proceeds from reverse recapitalization and pipe financing | 0 | |||||||||||||
payment of transaction costs related to reverse recapitalization | -200,000 | |||||||||||||
repayment of debt | 0 | |||||||||||||
cash paid for interest | 0 | |||||||||||||
property, equipment and capitalized software and development costs included in accounts payable and accrued expenses and other liabilities | -112,000 | 270,000 | ||||||||||||
proceeds from exercise of stock options | 686,000 | 2,191,000 | 372,000 | |||||||||||
change in fair value of warrants liabilities | -888,000 | 0 | -4,714,000 | -21,433,000 | 24,194,000 | |||||||||
investment in privately held companies | ||||||||||||||
proceeds from issuance of redeemable convertible preferred stock | ||||||||||||||
proceeds from debt | ||||||||||||||
proceeds from convertible notes, net of issuance costs | ||||||||||||||
settlement of vested stock options | ||||||||||||||
repurchase of common stock | ||||||||||||||
exchange of convertible notes for redeemable convertible preferred stock | ||||||||||||||
unpaid transaction costs | ||||||||||||||
loss on disposal of property, plant, and equipment | ||||||||||||||
changes in operating assets and liabilities: | ||||||||||||||
contingent earn-out liability recognized upon the closing of the reverse recapitalization and re-allocation | ||||||||||||||
conversion of redeemable convertible preferred stock into common stock in connection with the reverse recapitalization | 0 | |||||||||||||
contingent earn-out liability recognized upon the closing of the reverse recapitalization | ||||||||||||||
changes in state franchise tax accrual | -5,241 | |||||||||||||
changes in prepaid assets | 61,773 | |||||||||||||
changes in accrued expenses, formation and offering costs | 2,183,895 | |||||||||||||
change in fair value of warrant liability | 26,672,500 | |||||||||||||
changes in deferred income tax | 26,273 | |||||||||||||
cash from investing activities: | ||||||||||||||
interest and dividends reinvested in the trust account | -13,707 | |||||||||||||
cash flows from financing activities: | ||||||||||||||
proceeds from notes and advances payable – related party | 600,000 | |||||||||||||
payment of issuance expenses | -8,130 | |||||||||||||
increase in cash | -456,671 | |||||||||||||
cash at beginning of period | 633,266 | |||||||||||||
cash at end of period | 176,595 | |||||||||||||
supplemental disclosure of income and franchise taxes paid: | ||||||||||||||
cash paid for income and state franchise taxes | 55,241 | |||||||||||||
1. | ||||||||||||||
basic and diluted net income/(loss) per share: | ||||||||||||||
numerator: | ||||||||||||||
allocation of net income/ | -23,985,731 | |||||||||||||
denominator: | ||||||||||||||
weighted-average shares outstanding | 34,500,000 | |||||||||||||
basic and diluted net income/(loss) per share | -0.7 |