v3.23.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 11,273 $ 28,316
Accounts receivable, net 23,481 26,726
Contract assets 40,741 31,041
Inventory 1,452 1,469
Income tax receivable 688 688
Prepaid insurance 1,413 2,240
Prepaid expenses and other current assets 5,704 5,687
Total current assets 84,752 96,167
Property, plant and equipment, net 12,915 12,761
Right-of-use assets 12,956 13,103
Intangible assets, net 65,333 66,871
Goodwill 64,910 64,618
Equity method investments 3,259 3,269
Other non-current assets 953 909
Total assets 245,078 257,698
Current liabilities:    
Accounts payable 14,063 17,584
Notes payable to sellers 0 1,000
Short-term debt, including current portion of long-term debt 1,679 2,578
Short-term operating lease liabilities 3,345 3,214
Short-term finance lease liabilities 356 299
Accrued expenses 36,275 36,581
Deferred revenue 24,999 29,817
Other current liabilities 3,506 3,666
Total current liabilities 84,223 94,739
Long-term debt 75,019 74,745
Long-term operating lease liabilities 12,415 12,670
Long-term finance lease liabilities 759 579
Warrant liabilities 4,098 1,314
Deferred tax liabilities 3,172 3,255
Other non-current liabilities 384 506
Total liabilities 180,070 187,808
Commitments and contingencies (Note J – Commitments and Contingencies)
Convertible preferred stock, $0.0001 par value, 88,000 shares authorized; 81,250 and none issued and outstanding as of December 31, 2022 and December 31, 2021, respectively. Liquidation preference of $162,500 and zero as of December 31, 2022 and December 31, 2021, respectively [1] 76,365 76,365
Shareholders’ Equity (Deficit):    
Preferred stock, $0.0001 par value, 99,912,000 shares authorized; none issued and outstanding as of March 31, 2023 and December 31, 2022, respectively 0 0
Common stock, $0.0001 par value, 500,000,000 shares authorized; 64,280,631 and 64,280,631 issued and outstanding as of March 31, 2023 and December 31, 2022, respectively 6 6
Treasury stock, 141,811 and 141,811 shares, at cost, as of March 31, 2023 and December 31, 2022, respectively (381) (381)
Additional paid-in capital 200,084 198,126
Accumulated deficit (213,786) (206,528)
Accumulated other comprehensive income (loss) 2,492 2,076
Total shareholders’ equity (deficit) (11,585) (6,701)
Noncontrolling interests 228 226
Total equity (deficit) (11,357) (6,475)
Total liabilities, convertible preferred stock and equity (deficit) $ 245,078 $ 257,698
[1] Please refer to Note K – Convertible Preferred Stock for additional information.