Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Temporary Equity and Stockholders' Equity (Unaudited)

v3.22.2.2
Consolidated Statements of Temporary Equity and Stockholders' Equity (Unaudited) - USD ($)
$ in Thousands
Total
Series A Preferred Stock
Series A-1 Preferred Stock
Series B Preferred Stock
Series C Convertible Preferred Stock
Previously Reported
Previously Reported
Series A Preferred Stock
Previously Reported
Series A-1 Preferred Stock
Previously Reported
Series B Preferred Stock
Previously Reported
Series C Convertible Preferred Stock
Revision of Prior Period, Adjustment
Series A Preferred Stock
Revision of Prior Period, Adjustment
Series A-1 Preferred Stock
Revision of Prior Period, Adjustment
Series B Preferred Stock
Revision of Prior Period, Adjustment
Series C Convertible Preferred Stock
Cumulative Effect, Period of Adoption, Adjustment
Cumulative Effect, Period of Adoption, Adjusted Balance
Common Stock
Common Stock
Previously Reported
Common Stock
Revision of Prior Period, Adjustment
Common Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Additional Paid-in Capital
Additional Paid-in Capital
Previously Reported
Additional Paid-in Capital
Revision of Prior Period, Adjustment
Additional Paid-in Capital
Cumulative Effect, Period of Adoption, Adjustment
Additional Paid-in Capital
Cumulative Effect, Period of Adoption, Adjusted Balance
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss
Previously Reported
Accumulated Other Comprehensive Loss
Cumulative Effect, Period of Adoption, Adjusted Balance
Accumulated Deficit
Accumulated Deficit
Previously Reported
Accumulated Deficit
Cumulative Effect, Period of Adoption, Adjustment
Accumulated Deficit
Cumulative Effect, Period of Adoption, Adjusted Balance
Beginning balance of common stock (in shares) at Dec. 31, 2020                                 30,282,000 218,000 30,064,000                          
Beginning balance of stockholders' equity at Dec. 31, 2020 $ 20,216         $ 20,216                     $ 3 $ 2 $ 1   $ 135,616 $ 135,617 $ (1)     $ (1,677) $ (1,677)   $ (113,726) $ (113,726)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                
Accrued dividends payable (7,393)                                       (7,393)                      
Foreign currency translation adjustment (900)                                                 (900)            
Stock-based compensation 315                                       315                      
Net loss (1,081)                                                       (1,081)      
Ending balance of common stock (in shares) at Mar. 31, 2021                                 30,282,000                              
Ending balance of stockholders' equity at Mar. 31, 2021 11,157                               $ 3       128,538         (2,577)     (114,807)      
Beginning balance of temporary equity (in shares) at Dec. 31, 2020   7,756,000 7,862,000 9,091,000 2,566,000   43,000 60,000 57,000 17,000 7,713,000 7,802,000 9,034,000 2,549,000                                    
Beginning balance of temporary equity at Dec. 31, 2020 263,895 $ 77,562 $ 78,621 $ 90,910 $ 16,802 263,895 $ 77,562 $ 78,621 $ 90,910 $ 16,802                                            
Increase (Decrease) in Temporary Equity [Roll Forward]                                                                
Accrued dividends payable (in shares)   249,000 267,000 224,000                                                        
Accrued dividends payable 7,393 $ 2,486 $ 2,666 $ 2,241                                                        
Ending balance of temporary equity (in shares) at Mar. 31, 2021   8,005,000 8,129,000 9,315,000 2,566,000                                                      
Ending balance of temporary equity at Mar. 31, 2021 271,288 $ 80,048 $ 81,287 $ 93,151 $ 16,802                                                      
Beginning balance of common stock (in shares) at Dec. 31, 2020                                 30,282,000 218,000 30,064,000                          
Beginning balance of stockholders' equity at Dec. 31, 2020 20,216         20,216                     $ 3 $ 2 $ 1   135,616 135,617 (1)     (1,677) (1,677)   (113,726) (113,726)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                
Foreign currency translation adjustment (1,479)                                                              
Net loss (12,474)                                                              
Ending balance of common stock (in shares) at Sep. 30, 2021                                   71,810,000                            
Ending balance of stockholders' equity at Sep. 30, 2021           283,967                       $ 7       413,316         (3,156)     (126,200)    
Beginning balance of temporary equity (in shares) at Dec. 31, 2020   7,756,000 7,862,000 9,091,000 2,566,000   43,000 60,000 57,000 17,000 7,713,000 7,802,000 9,034,000 2,549,000                                    
Beginning balance of temporary equity at Dec. 31, 2020 263,895 $ 77,562 $ 78,621 $ 90,910 $ 16,802 263,895 $ 77,562 $ 78,621 $ 90,910 $ 16,802                                            
Ending balance of temporary equity (in shares) at Sep. 30, 2021   0 0 0 0                                                      
Ending balance of temporary equity at Sep. 30, 2021 0 $ 0 $ 0 $ 0 $ 0                                                      
Beginning balance of common stock (in shares) at Dec. 31, 2020                                 30,282,000 218,000 30,064,000                          
Beginning balance of stockholders' equity at Dec. 31, 2020 $ 20,216         20,216                     $ 3 $ 2 $ 1   135,616 135,617 $ (1)     (1,677) (1,677)   (113,726) (113,726)    
Ending balance of common stock (in shares) at Dec. 31, 2021 72,027,743                               72,028,000     72,028,000                        
Ending balance of stockholders' equity at Dec. 31, 2021 $ 272,143                           $ (11,314) $ 260,829 $ 7     $ 7 413,646     $ (11,613) $ 402,033 (3,331)   $ (3,331) (138,179)   $ 299 $ (137,880)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                
Accounting Standards Update [Extensible Enumeration] Accounting Standards Update 2020-06                                                              
Beginning balance of temporary equity (in shares) at Dec. 31, 2020   7,756,000 7,862,000 9,091,000 2,566,000   43,000 60,000 57,000 17,000 7,713,000 7,802,000 9,034,000 2,549,000                                    
Beginning balance of temporary equity at Dec. 31, 2020 $ 263,895 $ 77,562 $ 78,621 $ 90,910 $ 16,802 263,895 $ 77,562 $ 78,621 $ 90,910 $ 16,802                                            
Beginning balance of common stock (in shares) at Mar. 31, 2021                                 30,282,000                              
Beginning balance of stockholders' equity at Mar. 31, 2021 11,157                               $ 3       128,538         (2,577)     (114,807)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                
Accrued dividends payable (7,532)                                       (7,532)                      
Foreign currency translation adjustment 743                                                 743            
Stock-based compensation 315                                       315                      
Net loss (6,885)                                                       (6,885)      
Ending balance of common stock (in shares) at Jun. 30, 2021                                 30,282,000                              
Ending balance of stockholders' equity at Jun. 30, 2021 (2,202)                               $ 3       121,321         (1,834)     (121,692)      
Beginning balance of temporary equity (in shares) at Mar. 31, 2021   8,005,000 8,129,000 9,315,000 2,566,000                                                      
Beginning balance of temporary equity at Mar. 31, 2021 271,288 $ 80,048 $ 81,287 $ 93,151 $ 16,802                                                      
Increase (Decrease) in Temporary Equity [Roll Forward]                                                                
Derecognition of stock (in shares)         (46,000)                                                      
Derecognition of stock (300)       $ (300)                                                      
Accrued dividends payable (in shares)   251,000 270,000 232,000                                                        
Accrued dividends payable 7,532 $ 2,514 $ 2,695 $ 2,323                                                        
Ending balance of temporary equity (in shares) at Jun. 30, 2021   8,256,000 8,399,000 9,547,000 2,520,000                                                      
Ending balance of temporary equity at Jun. 30, 2021 278,520 $ 82,562 $ 83,982 $ 95,474 $ 16,502                                                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                
Accrued dividends payable (7,897)                                       (7,897)                      
Foreign currency translation adjustment (1,322)                                                 (1,322)            
Stock-based compensation (3,519)                                       (3,519)                      
Distributions to and conversions of preferred stock (in shares)                                 7,120,000                              
Distributions to and conversions of preferred stock 56,503                               $ 1       56,502                      
CTAC shares recapitalized, net of equity issuance costs (in shares)                                 10,356,000                              
CTAC shares recapitalized, net of equity issuance costs 6,457                               $ 1       6,456                      
Conversion of stock (in shares)                                 1,366,000                              
Conversion of KORE warrants 10,663                                       10,663                      
Private offering and merger financing, net of equity issuance costs (in shares)                                 22,686,000                              
Private offering and merger financing, net of equity issuance costs 217,282                               $ 2       217,280                      
Equity portion of convertible debt, net of issuance costs 12,510                                       12,510                      
Net loss (4,508)                                                       (4,508)      
Ending balance of common stock (in shares) at Sep. 30, 2021                                   71,810,000                            
Ending balance of stockholders' equity at Sep. 30, 2021           $ 283,967                       $ 7       $ 413,316         $ (3,156)     $ (126,200)    
Increase (Decrease) in Temporary Equity [Roll Forward]                                                                
Accrued dividends payable (in shares)   266,000 288,000 236,000                                                        
Accrued dividends payable 7,897 $ 2,656 $ 2,880 $ 2,361                                                        
Distributions to and conversions of preferred stock (in shares)   (8,522,000) (8,687,000) (9,783,000) (2,520,000)                                                      
Distributions to and conversions of preferred stock (286,417) $ (85,218) $ (86,862) $ (97,835) $ (16,502)                                                      
Ending balance of temporary equity (in shares) at Sep. 30, 2021   0 0 0 0                                                      
Ending balance of temporary equity at Sep. 30, 2021 $ 0 $ 0 $ 0 $ 0 $ 0                                                      
Beginning balance of common stock (in shares) at Dec. 31, 2021 72,027,743                               72,028,000     72,028,000                        
Beginning balance of stockholders' equity at Dec. 31, 2021 $ 272,143                           (11,314) 260,829 $ 7     $ 7 413,646     (11,613) 402,033 (3,331)   (3,331) (138,179)   299 (137,880)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                
Foreign currency translation adjustment (184)                                                 (184)            
Stock-based compensation 2,050                                       2,050                      
Common stock issued pursuant to acquisition (in shares)                                 4,212,000                              
Common stock issued pursuant to acquisition 23,295                               $ 1       23,294                      
Net loss (10,907)                                                       (10,907)      
Ending balance of common stock (in shares) at Mar. 31, 2022                                 76,240,000                              
Ending balance of stockholders' equity at Mar. 31, 2022 $ 275,083                               $ 8       427,377         (3,515)     (148,787)      
Beginning balance of common stock (in shares) at Dec. 31, 2021 72,027,743                               72,028,000     72,028,000                        
Beginning balance of stockholders' equity at Dec. 31, 2021 $ 272,143                           $ (11,314) $ 260,829 $ 7     $ 7 413,646     $ (11,613) $ 402,033 (3,331)   $ (3,331) (138,179)   $ 299 $ (137,880)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                
Foreign currency translation adjustment (5,160)                                                              
Net loss $ (35,073)                                                              
Ending balance of common stock (in shares) at Sep. 30, 2022 76,289,741                               76,290,000                              
Ending balance of stockholders' equity at Sep. 30, 2022 $ 251,461                               $ 8       432,897         (8,491)     (172,953)      
Beginning balance of common stock (in shares) at Mar. 31, 2022                                 76,240,000                              
Beginning balance of stockholders' equity at Mar. 31, 2022 275,083                               $ 8       427,377         (3,515)     (148,787)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                
Foreign currency translation adjustment (2,559)                                                 (2,559)            
Stock-based compensation 2,501                                       2,501                      
Net loss (11,141)                                                       (11,141)      
Ending balance of common stock (in shares) at Jun. 30, 2022                                 76,240,000                              
Ending balance of stockholders' equity at Jun. 30, 2022 263,884                               $ 8       429,878         (6,074)     (159,928)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                
Foreign currency translation adjustment (2,417)                                                 (2,417)            
Stock-based compensation 3,019                                       3,019                      
Vesting of restricted stock units (in shares)                                 50,000                              
Net loss $ (13,025)                                                       (13,025)      
Ending balance of common stock (in shares) at Sep. 30, 2022 76,289,741                               76,290,000                              
Ending balance of stockholders' equity at Sep. 30, 2022 $ 251,461                               $ 8       $ 432,897         $ (8,491)     $ (172,953)