Annual report pursuant to Section 13 and 15(d)

Statement of Changes in Shareholders' Equity

v3.22.1
Statement of Changes in Shareholders' Equity - USD ($)
Total
Previously Reported [Member]
Reverse Capitalization [Member]
Series A Preferred Stock [Member]
Series A Preferred Stock [Member]
Previously Reported [Member]
Series A Preferred Stock [Member]
Reverse Capitalization [Member]
Series A1 Preferred Stock [Member]
Series A1 Preferred Stock [Member]
Previously Reported [Member]
Series A1 Preferred Stock [Member]
Reverse Capitalization [Member]
Series B Preferred Stock [Member]
Series B Preferred Stock [Member]
Previously Reported [Member]
Series B Preferred Stock [Member]
Reverse Capitalization [Member]
Series C Preferred Stock [Member]
Series C Preferred Stock [Member]
Previously Reported [Member]
Series C Preferred Stock [Member]
Reverse Capitalization [Member]
Series C Convertible Preferred Stock [Member]
Common Stock [Member]
Common Stock [Member]
Previously Reported [Member]
Common Stock [Member]
Reverse Capitalization [Member]
Additional Paid-in Capital [Member]
Additional Paid-in Capital [Member]
Previously Reported [Member]
Additional Paid-in Capital [Member]
Reverse Capitalization [Member]
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Loss [Member]
Previously Reported [Member]
Accumulated Other Comprehensive Loss [Member]
Reverse Capitalization [Member]
Accumulated Deficit [Member]
Accumulated Deficit [Member]
Previously Reported [Member]
Accumulated Deficit [Member]
Reverse Capitalization [Member]
Beginning balance at Dec. 31, 2018   $ 115,211,000 $ 115,211,000                             $ 2,000 $ 3,000   $ 174,601,000 $ 174,600,000   $ (4,310,000) $ (4,310,000)   $ (55,082,000) $ (55,082,000)
Beginning balance, shares at Dec. 31, 2018                                   213,756 29,743,987                  
Temporary equity, beginning balance at Dec. 31, 2018   $ 215,348,000 $ 215,348,000   $ 60,270,000 $ 60,270,000   $ 61,444,000 $ 61,444,000   $ 76,832,000 $ 76,832,000   $ 16,802,000 $ 16,802,000                          
Temporary equity, beginning balance, shares at Dec. 31, 2018         42,750 6,027,027   60,013 6,144,432   57,000 7,683,175   16,802 2,566,186                          
Conversion of stock                                 $ 1,000     $ (1,000)                
Conversion of stock, shares       5,984,277     6,084,419     7,626,175     2,549,384       29,530,231                      
Issuance of stock $ 7,000,000                                     7,000,000                
Issuance of stock, shares                                 573,016                      
Repurchase of stock (80,000)                                     (80,000)                
Repurchase of stock, shares                                 (7,653)                      
Accrued dividends payable (21,647,000)                                     (21,647,000)                
Temporary equity of accrued dividends payable 21,647,000     $ 8,090,000     $ 8,051,000     $ 5,506,000                                    
Temporary equity of accrued dividends payable, shares       808,976     805,092     550,599                                    
Foreign currency translation adjustment 517,000                                           $ 517,000          
Share-based compensation 1,682,000                                     1,682,000                
Net loss (23,443,000)                                                 $ (23,443,000)    
Temporary equity, ending balance at Dec. 31, 2019 236,995,000     $ 68,360,000     $ 69,495,000     $ 82,338,000     $ 16,802,000                              
Temporary equity, ending balance, shares at Dec. 31, 2019       6,836,003     6,949,524     8,233,774     2,566,186                              
Ending balance at Dec. 31, 2019 79,240,000                               $ 3,000     161,555,000     (3,793,000)     (78,525,000)    
Ending balance, shares at Dec. 31, 2019                                 30,309,350                      
Repurchase of stock (200,000)                                     (200,000)                
Repurchase of stock, shares                                 (27,830)                      
Accrued dividends payable (26,900,000)     $ 0           $ 0                   (26,900,000)                
Temporary equity of accrued dividends payable 26,900,000     $ 9,202,000     $ 9,126,000     $ 8,572,000                                    
Temporary equity of accrued dividends payable, shares       920,155     912,583     857,201                                    
Foreign currency translation adjustment 2,116,000                                           2,116,000          
Share-based compensation 1,161,000                                     1,161,000                
Net loss (35,201,000)                                                 (35,201,000)    
Temporary equity, ending balance at Dec. 31, 2020 263,895,000     $ 77,562,000     $ 78,621,000     $ 90,910,000     $ 16,802,000                              
Temporary equity, ending balance, shares at Dec. 31, 2020       7,756,158     7,862,107     9,090,975     2,566,186                              
Ending balance at Dec. 31, 2020 20,216,000                               $ 3,000     135,616,000     (1,677,000)     (113,726,000)    
Ending balance, shares at Dec. 31, 2020                                 30,281,520                      
Accrued dividends payable (22,822,000)     $ (42,468,000)           $ (40,835,000)                   (22,822,000)                
Temporary equity of accrued dividends payable 22,822,000     $ 7,656,000     $ 8,241,000     $ 6,925,000                                    
Temporary equity of accrued dividends payable, shares       765,609     824,076     692,543                                    
Foreign currency translation adjustment (1,654,000)                                           (1,654,000)          
Share-based compensation (1,856,000)                               $ 200,426,000     (1,856,000)                
Derecognition of shares, value (300,000)                       $ (300,000)                              
Derecognition of shares, shares                         (45,818)                              
CTAC shares recapitalized, net of equity issuance cost 6,460,000                               $ 1,000     6,428,000                
CTAC shares recapitalized, net of equity issuance costs, shares                                 10,373,491                      
Conversion of KORE warrants 10,663,000                                     10,663,000                
Conversion of KORE warrants, shares                                 1,365,612                      
Private offering and merger financing, net of equity issuance costs 217,126,000                               $ 2,000     216,875,000                
Private offering and merger financing, net of equity issuance costs, shares                                 22,686,326                      
Distributions to and conversions of preferred stock (Temporary equity Shares)       (8,521,767)     (8,686,183)     (9,783,518)     (2,520,368)                              
Distributions to and conversions of preferred stock (Shares)                                 7,120,368                      
Distributions to and conversions of preferred stock (Temporary equity Value) (286,417,000)     $ (85,218,000)     $ (86,862,000)     $ (97,835,000)     $ (16,502,000)                              
Distributions to and conversions of preferred stock 56,503,000                               $ 1,000     56,502,000                
Equity portion of convertible debt, net of issuance costs 11,960,000                                     12,240,000                
Net loss (24,453,000)                                                 (24,453,000)    
Temporary equity, ending balance at Dec. 31, 2021 0     $ 0     $ 0     $ 0           $ 0                        
Temporary equity, ending balance, shares at Dec. 31, 2021       0     0     0     0     0                        
Ending balance at Dec. 31, 2021 $ 272,143,000                               $ 7,000     $ 413,646,000     $ (3,331,000)     $ (138,179,000)    
Ending balance, shares at Dec. 31, 2021                                 72,027,743