Filed Pursuant to Rule 424(b)(3)
Registration No. 333-259733

PROSPECTUS SUPPLEMENT NO. 17

(to Prospectus dated April 7, 2022)

 

SPIRE GLOBAL, INC.

61,883,713 Shares of Class A Common Stock

6,600,000 Warrants to Purchase Class A Common Stock

18,099,992 Shares of Class A Common Stock Underlying Warrants

 

 

This prospectus supplement amends and supplements the prospectus dated April 7, 2022 (as supplemented or amended from time to time, the “Prospectus”), which forms a part of our Registration Statement on Form S-1 (No. 333-259733).

 

This prospectus supplement is being filed to update and supplement the information in the Prospectus with the information contained in our Quarterly Report on Form 10-Q/A, filed with the Securities and Exchange Commission on November 7, 2022 (the “Quarterly Report”). Accordingly, we have attached the Quarterly Report to this prospectus supplement.

This prospectus supplement updates and supplements the information in the Prospectus and is not complete without, and may not be delivered or utilized except in combination with, the Prospectus, including any amendments or supplements thereto. This prospectus supplement should be read in conjunction with the Prospectus and if there is any inconsistency between the information in the Prospectus and this prospectus supplement, you should rely on the information in this prospectus supplement.

Our Class A common stock is traded on NYSE under the symbol “SPIR.” Our public warrants are traded on the NYSE under the symbol “SPIR.WS” and, after resale, our private placement warrants will also trade under the same ticker symbol as the public warrants. On November 4, 2022, the last quoted sale price for our Class A common stock as reported on NYSE was $1.37 and the last reported sale price of our public warrants was $0.12.

 

 

We are an “emerging growth company,” as defined under the federal securities laws, and, as such, may elect to comply with certain reduced public company reporting requirements for future filings.

 

 

Investing in our securities involves a high degree of risk. Before buying any securities, you should carefully read the discussion of the risks of investing in our securities in the section titled “Risk Factors” beginning on page 10 of the Prospectus.

 

You should rely only on the information contained in the Prospectus and this prospectus supplement or amendment hereto. We have not authorized anyone to provide you with different information.

 

Neither the Securities Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if the Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

 

 

The date of this prospectus supplement is November 7, 2022.

 


 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 10-Q/A

(Amendment No. 1)

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2022

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number: 001-39493

 

SPIRE GLOBAL, INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

Delaware

85-1276957

( State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer
Identification No.)

8000 Towers Crescent Drive

Suite 1100

Vienna, Virginia 22182

(Address of principal executive offices)

(202) 301-5127

(Registrant’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Class A common stock, par value of $0.0001 per share

 

SPIR

 

New York Stock Exchange

Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share

 

SPIR.WS

 

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

 

 

Accelerated filer

 

Non-accelerated filer

 

 

Smaller reporting company

 

Emerging growth company

 

 

 

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

 

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes ☒ No ☐

 

The registrant had outstanding 139,894,946 shares of Class A common stock, 12,058,614 shares of Class B common stock, and 18,099,982 warrants as of July 29, 2022.

 

 


 

EXPLANATORY NOTE

 

 

Spire Global, Inc. (the “Company”) is filing this Amendment No. 1 on Form 10-Q/A ("Form 10-Q/A") to its Quarterly Report on Form 10-Q for the period ended June 30, 2022 (the “Original Form 10-Q”), as originally filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 10, 2022, to amend and restate the Original Form 10-Q as further described below.



As disclosed in the Company’s Current Report on Form 8-K, as filed with the SEC on October 25, 2022, the Company is restating its previously issued unaudited condensed consolidated financial statements as of and for the three and six months ended June 30, 2022. Subsequent to the filing of the Original Form 10-Q, the Company discovered that an incorrect number had been used in the calculation of the fair value of the contingent earnout liability following the consummation of the reverse capitalization transaction on August 16, 2021. As a result, the Company’s contingent earnout liability was overstated by approximately $9.9 million as of June 30, 2022. For the three and six months ended June 30, 2022, the gain recorded on the change in fair value of the contingent earnout liability was understated by approximately $2.2 million and $8.6 million, respectively. For the three and six months ended June 30, 2022, total other income (expense), net, loss before income taxes, and net loss were each overstated by approximately $2.2 million and $8.6 million, respectively. Basic and diluted net loss per share were overstated by $0.02 and by $0.06 for the three and six months ended June 30, 2022, respectively. As a result of the error, the Company’s previously issued unaudited condensed consolidated financial statements as of and for the three and six months ended June 30, 2022 were materially misstated and are being restated in this Form 10-Q/A.



This Form 10-Q/A is presented as of the filing date of the Original Form 10-Q and does not reflect events occurring after that date, and does not modify or update disclosures in any way other than as required to reflect the restatement described below. Accordingly, this Form 10-Q/A should be read in conjunction with the Company’s filings with the SEC subsequent to the date on which the Company filed the Original Form 10-Q.

This Form 10-Q/A sets forth the Original Form 10-Q in its entirety, as amended to reflect the restatement. Among other things, forward-looking statements made in the Original Form 10-Q have not been revised to reflect events that occurred or facts that became known to the Company after the filing of the Original Form 10-Q, and such forward-looking statements should be read in their historical context.

The following items have been amended as a result of the restatement:

Part I, Item 1, “Financial Statements,”

Part I, Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”,

Part I, Item 4, “Controls and Procedures,” and

Part II, Item 1A, “Risk Factors.”

In accordance with applicable SEC rules, this Form 10-Q/A includes an updated signature page and certifications of the Company’s Chief Executive Officer and Chief Financial Officer in Exhibits 31.1, 31.2 and 32.1 as required by Rule 12b-15.

Refer to Note 2, “Summary of Significant Accounting Policies,” of the Notes to Condensed Consolidated Financial Statements of this Form 10-Q/A for additional information and for the summary of the accounting impacts of the restatement of the Company’s condensed consolidated financial statements.

The Company has concluded its disclosure controls and procedures as of June 30, 2022 remained ineffective due to the unremediated material weaknesses previously disclosed in Part I, Item 4 “Controls and Procedures” of the Original Form 10-Q, as well as the identification of an additional material weakness in internal control over financial reporting related to the error discussed above. See additional disclosure included in Part 1, Item 4 of this Form 10-Q/A.

 

 

2


 

Table of Contents

 

 

 

Page

 

 

 

PART I.

FINANCIAL INFORMATION

6

 

 

 

Item 1.

Unaudited Condensed Consolidated Financial Statements

6

 

Condensed Consolidated Balance Sheets

6

 

Condensed Consolidated Statements of Operations

7

 

Condensed Consolidated Statements of Comprehensive Loss

8

 

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit)

9

 

Condensed Consolidated Statements of Cash Flows

11

 

Notes to Unaudited Condensed Consolidated Financial Statements

12

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

31

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

48

Item 4.

Controls and Procedures

48

 

 

 

PART II.

OTHER INFORMATION

52

 

 

 

Item 1.

Legal Proceedings

52

Item 1A.

Risk Factors

52

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

86

Item 3.

Defaults Upon Senior Securities

87

Item 4.

Mine Safety Disclosures

87

Item 5.

Other Information

87

Item 6.

Exhibits

88

Signatures

89

 

 

3


 

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “would,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” “seek” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about:

our ability to successfully identify, acquire and integrate businesses, such as our completed acquisition (the “Acquisition”) of exactEarth Ltd. (TSX: XCT) (“exactEarth”), the combined future performance of such acquisitions or our ability to pursue strategic transactions;
changes in our growth, strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, and plans;
our ability to maintain effective internal control over financial reporting and to remedy identified material weaknesses;
the implementation, market acceptance, and success of our business model;
the ability to develop new offerings, services, solutions and features and bring them to market in a timely manner and make enhancements to our business;
the quality and effectiveness of and advancements in our technology and our ability to accurately and effectively use data and engage in predictive analytics;
overall level of consumer demand for our products and offerings;
expectations and timing related to product launches;
expectations of achieving and maintaining profitability;
projections of total addressable markets, market opportunity, and market share;
our ability to acquire data sets, software, equipment, satellite components, and regulatory approvals from third parties;
our expectations concerning relationships with third parties;
our ability to acquire or develop products or technologies we believe could complement or expand our platform or to expand our products and offerings internationally;
our ability to obtain and protect patents, trademarks, licenses and other intellectual property rights;
our ability to utilize potential net operating loss carryforwards;
developments and projections relating to our competitors and industries, such as the projected growth in demand for space-based data;
our ability to acquire new customers and partners or obtain renewals, upgrades, or expansions from our existing customers;
our ability to compete with existing and new competitors in existing and new markets and offerings;
our ability to retain or recruit officers, key employees or directors;
the conversion or planned repayment of our debt obligations;
our future capital requirements and sources and uses of cash;
our ability to obtain funding for our operations;
our business, expansion plans, and opportunities;
our expectations regarding regulatory approvals and authorizations;
the increased expenses associated with being a public company;
the expectations regarding the effects of existing and developing laws and regulations, including with respect to regulations around satellites, intellectual property law, and privacy and data protection;
global and domestic economic conditions, including currency exchange rate fluctuations, inflation and geopolitical uncertainty and instability, and their impact on demand and pricing for our offerings in affected markets; and
the impact and severity of the COVID-19 pandemic, including evolving and future variants, or a similar public health threat, on global capital and financial markets, general economic conditions in the United States, and our business and operations.

We caution you that the foregoing list may not contain all of the forward-looking statements made in this Quarterly Report on Form 10-Q.

 

4


 

You should not rely upon forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this Quarterly Report on Form 10-Q primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations, and prospects. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, and other factors, including those described in the section titled “Risk Factors” and elsewhere in this Quarterly Report on Form 10-Q. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Quarterly Report on Form 10-Q. We cannot assure you that the results, events, and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements.

Neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. Moreover, the forward-looking statements made in this Quarterly Report on Form 10-Q relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this Quarterly Report on Form 10-Q to reflect events or circumstances after the date of this Quarterly Report on Form 10-Q or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments we may make.

In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this Quarterly Report on Form 10-Q, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.

 

 

5


 

PART I—FINANCIAL INFORMATION

Item 1. Unaudited Condensed Consolidated Financial Statements

The following information has been adjusted to reflect the restatement of our unaudited condensed consolidated financial statements as described in the “Explanatory Note” at the beginning of this Form 10-Q/A and in Note 2, “Summary of Significant Accounting Policies,” in the Notes to the Condensed Consolidated Financial Statements of this Form 10-Q/A.

Spire Global, Inc.

Condensed Consolidated Balance Sheets

(In thousands, except share and per share amounts)

(Unaudited)

 

 

 

 

June 30,

 

 

December 31,

 

 

 

2022

 

 

2021

 

 

 

(Restated)

 

 

(Restated)

 

Assets

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

Cash and cash equivalents

 

$

72,531

 

 

$

109,256

 

Marketable securities

 

 

20,556

 

 

 

 

Accounts receivable, net (including allowance of $497 and $339 as of June 30, 2022
    and December 31, 2021, respectively)

 

 

16,417

 

 

 

10,163

 

Contract assets

 

 

4,402

 

 

 

2,084

 

Other current assets

 

 

6,465

 

 

 

10,071

 

Total current assets

 

 

120,371

 

 

 

131,574

 

Property and equipment, net

 

 

55,073

 

 

 

48,704

 

Operating lease assets

 

 

10,072

 

 

 

 

Goodwill

 

 

52,538

 

 

 

53,627

 

Customer relationships

 

 

22,833

 

 

 

24,388

 

Other intangible assets

 

 

16,920

 

 

 

19,765

 

Other long-term assets, including restricted cash

 

 

11,114

 

 

 

12,136

 

Total assets

 

$

288,921

 

 

$

290,194

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

Accounts payable

 

$

4,380

 

 

$

5,824

 

Accrued wages and benefits

 

 

3,766

 

 

 

5,646

 

Contract liabilities, current portion

 

 

12,080

 

 

 

8,627

 

Other accrued expenses

 

 

8,301

 

 

 

4,823

 

Total current liabilities

 

 

28,527

 

 

 

24,920

 

Long-term debt

 

 

96,921

 

 

 

51,124

 

Contingent earnout liability

 

 

773

 

 

 

10,026

 

Deferred income tax liabilities

 

 

757

 

 

 

835

 

Warrant liability

 

 

5,328

 

 

 

11,482

 

Operating lease liabilities, net of current portion

 

 

9,444

 

 

 

 

Other long-term liabilities

 

 

1,148

 

 

 

1,600

 

Total liabilities

 

 

142,898

 

 

 

99,987

 

Commitments and contingencies (Note 9)

 

 

 

 

 

 

Stockholders’ equity

 

 

 

 

 

 

Common stock, $0.0001 par value, 1,000,000,000 Class A and 15,000,000 Class
    B shares authorized, 139,871,381 Class A and 12,058,614 Class B shares issued
    and outstanding at June 30, 2022; 139,096,000 Class A and 12,058,614 Class B
    shares issued and outstanding at December 31, 2021

 

 

15

 

 

 

15

 

Additional paid-in capital

 

 

445,005

 

 

 

438,696

 

Accumulated other comprehensive income

 

 

296

 

 

 

732

 

Accumulated deficit

 

 

(299,293

)

 

 

(249,236

)

Total stockholders’ equity

 

 

146,023

 

 

 

190,207

 

Total liabilities and stockholders’ equity

 

$

288,921

 

 

$

290,194

 

 

The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements.

 

6


 

Spire Global, Inc.

Condensed Consolidated Statements of Operations

(In thousands, except share and per share amounts)

(Unaudited)

 

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(Restated)

 

 

 

 

 

(Restated)

 

 

 

 

Revenue

 

$

19,395

 

 

$

9,113

 

 

$

37,465

 

 

$

18,829

 

Cost of revenue

 

 

9,573

 

 

 

3,727

 

 

 

19,419

 

 

 

7,055

 

Gross profit

 

 

9,822

 

 

 

5,386

 

 

 

18,046

 

 

 

11,774

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

8,225

 

 

 

7,209

 

 

 

16,882

 

 

 

14,109

 

Sales and marketing

 

 

6,728

 

 

 

4,854

 

 

 

13,633

 

 

 

8,795

 

General and administrative

 

 

11,274

 

 

 

6,896

 

 

 

23,958

 

 

 

15,290

 

Total operating expenses

 

 

26,227

 

 

 

18,959

 

 

 

54,473

 

 

 

38,194

 

Loss from operations

 

 

(16,405

)

 

 

(13,573

)

 

 

(36,427

)

 

 

(26,420

)

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

106

 

 

 

1

 

 

 

120

 

 

 

2

 

Interest expense

 

 

(2,785

)

 

 

(3,325

)

 

 

(5,828

)

 

 

(5,875

)

Change in fair value of contingent earnout liability

 

 

2,370

 

 

 

 

 

 

9,253

 

 

 

 

Change in fair value of warrant liabilities

 

 

3,897

 

 

 

(4,185

)

 

 

9,732

 

 

 

(10,176

)

Loss on extinguishment of debt

 

 

(22,510

)

 

 

(4,954

)

 

 

(22,510

)

 

 

(3,255

)

Other expense, net

 

 

(2,876

)

 

 

(513

)

 

 

(4,045

)

 

 

(136

)

Total other income (expense), net

 

 

(21,798

)

 

 

(12,976

)

 

 

(13,278

)

 

 

(19,440

)

Loss before income taxes

 

 

(38,203

)

 

 

(26,549

)

 

 

(49,705

)

 

 

(45,860

)

Income tax provision

 

 

62

 

 

 

313

 

 

 

352

 

 

 

700

 

Net loss

 

$

(38,265

)

 

$

(26,862

)

 

$

(50,057

)

 

$

(46,560

)

Basic and diluted net loss per share

 

$

(0.27

)

 

$

(1.44

)

 

$

(0.36

)

 

$

(2.56

)

Weighted-average shares used in computing basic and diluted net loss per share

 

 

139,687,475

 

 

 

18,642,269

 

 

 

139,482,147

 

 

 

18,190,329

 

 

The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements.

 

7


 

Spire Global, Inc.

Condensed Consolidated Statements of Comprehensive Loss

(In thousands)

(Unaudited)

 

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(Restated)

 

 

 

 

 

(Restated)

 

 

 

 

Net loss

 

$

(38,265

)

 

$

(26,862

)

 

$

(50,057

)

 

$

(46,560

)

Other comprehensive loss:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

 

(2,212

)

 

 

435

 

 

 

(353

)

 

 

467

 

Net unrealized loss on investments
   (net of tax)

 

 

(83

)

 

 

 

 

 

(83

)

 

 

 

Comprehensive loss

 

$

(40,560

)

 

$

(26,427

)

 

$

(50,493

)

 

$

(46,093

)

 

The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements.

 

8


 

Spire Global, Inc.

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit)

(In thousands, except share amounts)

(Unaudited)

 

 

 

 

 

 

 

 

 

Common Stock

 

 

Additional
Paid

 

 

Accumulated
Other
Comprehensive

 

 

Accumulated

 

 

Total
Stockholders'

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Income

 

 

Deficit

 

 

Equity

 

Balance, March 31, 2022 (Restated)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

151,650,692

 

 

$

15

 

 

$

441,623

 

 

$

2,591

 

 

$

(261,028

)

 

$

183,201

 

Exercise of stock
  options

 

 

 

 

 

 

 

 

 

 

 

 

 

2,600

 

 

 

 

 

 

158

 

 

 

 

 

 

 

 

 

158

 

Vesting of restricted
  stock units, net of
  tax withholdings

 

 

 

 

 

 

 

 

 

 

 

 

 

21,331

 

 

 

 

 

 

(17

)

 

 

 

 

 

 

 

 

(17

)

Issuance of common
  stock upon ESPP
  purchase

 

 

 

 

 

 

 

 

 

 

 

 

 

255,372

 

 

 

 

 

 

332

 

 

 

 

 

 

 

 

 

332

 

Stock compensation
  expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,909

 

 

 

 

 

 

 

 

 

2,909

 

Net loss (Restated)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(38,265

)

 

 

(38,265

)

Foreign currency
  translation
  adjustments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,212

)

 

 

 

 

 

(2,212

)

Net unrealized loss
  on investments
  (net of tax)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(83

)

 

 

 

 

 

(83

)

Balance, June 30, 2022 (Restated)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

151,929,995

 

 

$

15

 

 

$

445,005

 

 

$

296

 

 

$

(299,293

)

 

$

146,023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock

 

 

Additional
Paid

 

 

Accumulated
Other
Comprehensive

 

 

Accumulated

 

 

Total
Stockholders'

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Income

 

 

Deficit

 

 

Equity

 

Balance, December 31, 2021 (Restated)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

151,154,614

 

 

$

15

 

 

$

438,696

 

 

$

732

 

 

$

(249,236

)

 

$

190,207

 

Exercise of stock
  options

 

 

 

 

 

 

 

 

 

 

 

 

 

494,664

 

 

 

 

 

 

796

 

 

 

 

 

 

 

 

 

796

 

Vesting of restricted
  stock units, net of
  tax withholdings

 

 

 

 

 

 

 

 

 

 

 

 

 

25,345

 

 

 

 

 

 

(17

)

 

 

 

 

 

 

 

 

(17

)

Issuance of common
  stock upon ESPP
  purchase

 

 

 

 

 

 

 

 

 

 

 

 

 

255,372

 

 

 

 

 

 

332

 

 

 

 

 

 

 

 

 

332

 

Stock compensation
  expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,198

 

 

 

 

 

 

 

 

 

5,198

 

Net loss (Restated)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(50,057

)

 

 

(50,057

)

Foreign currency
  translation
  adjustments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(353

)

 

 

 

 

 

(353

)

Net unrealized loss
  on investments
  (net of tax)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(83

)

 

 

 

 

 

(83

)

Balance, June 30, 2022 (Restated)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

151,929,995

 

 

$

15

 

 

$

445,005

 

 

$

296

 

 

$

(299,293

)

 

$

146,023

 

 

 

9


 

 

 

 

Series A
Preferred Stock

 

 

Series B
Preferred Stock

 

 

Series C
Preferred Stock

 

 

Common Stock

 

 

Additional
Paid

 

 

Accumulated
Other
Comprehensive
Income

 

 

Accumulated

 

 

Total
Stockholders'

 

 

 

Shares(1)

 

 

Amount

 

 

Shares(1)

 

 

Amount

 

 

Shares(1)

 

 

Amount

 

 

Shares(1)

 

 

Amount

 

 

Capital

 

 

(Loss)

 

 

Deficit

 

 

(Deficit)

 

Balance, March 31, 2021

 

 

21,615,723

 

 

$

52,809

 

 

 

8,306,818

 

 

$

35,228

 

 

 

12,804,176

 

 

$

65,222

 

 

 

17,915,515

 

 

$

2

 

 

$

12,933

 

 

$

(950

)

 

$

(230,844

)

 

$

(65,600

)

Exercise of stock
  options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

319,085

 

 

 

 

 

 

378

 

 

 

 

 

 

 

 

 

378

 

Stock
  compensation
  expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,994

 

 

 

 

 

 

 

 

 

1,994

 

Issuance of
  shares to FP
  Credit
  Partners. L.P.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

977,724

 

 

 

 

 

 

8,065

 

 

 

 

 

 

 

 

 

8,065

 

Exercise of
  Series C
  preferred
  warrants

 

 

 

 

 

 

 

 

 

 

 

 

 

 

146,919

 

 

 

891

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

891

 

Net loss