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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
10-Q
(Mark One)
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☒
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
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For the quarterly period ended
September 30,
2022
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☐
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
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For the transition period from
to
Commission File Number:
001-39515
American Well Corporation
(Exact name of registrant as specified in its charter)
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Delaware
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20-5009396
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(State of incorporation)
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(I.R.S. Employer
Identification Number)
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75 State Street,
26th Floor
Boston,
MA
02109
(Address of registrant’s principal executive offices)
(617)
204-3500
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the
Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Class A common stock,
par
value of $0.01 per share
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AMWL
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The New York Stock Exchange
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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
definition of “large accelerated filer,” “accelerated filer,”
“smaller reporting company,” and “emerging growth company” in Rule
12b-2 of the Exchange Act.
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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 ☒
As of October 31, 2022, the number of shares of the registrant’s
Class A common stock outstanding was
242,463,684,
the number of shares of the registrant’s Class B common stock
outstanding was
27,390,397
and the number of shares of the registrant’s Class C common stock
outstanding was
5,555,555.
American Well Corporation
QUARTERLY REPORT ON FORM 10-Q
For the period ended September 30, 2022
TABLE OF CONTENTS
PART I - FINANCIAL
INFORMATION
Item 1. Financial
Statements
AMERICAN WELL CORPORATION
CONDENSED CONSOLIDATED
BALANCE SHEETS
(in thousands, except share and per share amounts)
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022
|
|
|
December 31, 2021
|
|
|
Assets
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
332,601
|
|
|
$
|
746,416
|
|
|
Investments
|
|
|
249,008
|
|
|
|
—
|
|
|
Accounts receivable ($164 and
$2,054,
from related parties and net of
allowances of $1,568 and
$1,809,
respectively)
|
|
|
45,730
|
|
|
|
51,375
|
|
|
Inventories
|
|
|
7,969
|
|
|
|
7,530
|
|
|
Deferred contract acquisition costs
|
|
|
1,338
|
|
|
|
1,697
|
|
|
Prepaid expenses and other current assets
|
|
|
20,598
|
|
|
|
20,278
|
|
|
Total current assets
|
|
|
657,244
|
|
|
|
827,296
|
|
|
Restricted cash
|
|
|
795
|
|
|
|
795
|
|
|
Property and equipment, net
|
|
|
1,079
|
|
|
|
2,235
|
|
|
Goodwill
|
|
|
425,196
|
|
|
|
442,761
|
|
|
Intangible assets, net
|
|
|
127,291
|
|
|
|
152,409
|
|
|
Operating lease right-of-use asset
|
|
|
14,412
|
|
|
|
16,422
|
|
|
Deferred contract acquisition costs, net of current
portion
|
|
|
3,064
|
|
|
|
2,028
|
|
|
Other assets
|
|
|
1,920
|
|
|
|
1,722
|
|
|
Investment in minority owned joint venture
|
|
|
773
|
|
|
|
168
|
|
|
Total assets
|
|
$
|
1,231,774
|
|
|
$
|
1,445,836
|
|
|
Liabilities and Stockholders’ Equity
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
Accounts payable
|
|
$
|
6,175
|
|
|
$
|
12,156
|
|
|
Accrued expenses and other current liabilities
|
|
|
45,181
|
|
|
|
58,711
|
|
|
Operating lease liability, current
|
|
|
3,623
|
|
|
|
1,918
|
|
|
Deferred revenue ($338 and
$1,860 from
related parties, respectively)
|
|
|
50,151
|
|
|
|
68,841
|
|
|
Total current liabilities
|
|
|
105,130
|
|
|
|
141,626
|
|
|
Other long-term liabilities
|
|
|
2,673
|
|
|
|
5,136
|
|
|
Contingent consideration liabilities, net of current
portion
|
|
|
—
|
|
|
|
16,450
|
|
|
Operating lease liability, net of current portion
|
|
|
12,208
|
|
|
|
14,694
|
|
|
Deferred revenue, net of current portion ($13 and
$22 from
related
parties, respectively)
|
|
|
6,914
|
|
|
|
7,055
|
|
|
Total liabilities
|
|
|
126,925
|
|
|
|
184,961
|
|
|
Commitments and contingencies (Note
11)
|
|
|
|
|
|
|
|
Stockholders’ equity:
|
|
|
|
|
|
|
|
Preferred stock, $0.01 par
value;
100,000,000 shares
authorized,
no shares
issued or outstanding as of September 30, 2022
and as of December 31, 2021
|
|
|
—
|
|
|
|
—
|
|
|
Common stock, $0.01
par value;
1,000,000,000 Class
A shares authorized,
242,304,366 and
229,402,453 shares
issued and outstanding, respectively;
100,000,000 Class
B shares authorized,
27,390,397 and
26,913,579 shares
issued and outstanding, respectively;
200,000,000 Class
C
shares authorized
5,555,555 issued
and outstanding as of September 30, 2022 and as of December 31,
2021
|
|
|
2,753
|
|
|
|
2,620
|
|
|
Additional paid-in capital
|
|
|
2,133,614
|
|
|
|
2,054,275
|
|
|
Accumulated other comprehensive loss
|
|
|
(31,056
|
)
|
|
|
(6,353
|
)
|
|
Accumulated deficit
|
|
|
(1,020,865
|
)
|
|
|
(811,284
|
)
|
|
Total American Well Corporation stockholders’ equity
|
|
|
1,084,446
|
|
|
|
1,239,258
|
|
|
Non-controlling interest
|
|
|
20,403
|
|
|
|
21,617
|
|
|
Total stockholders’ equity
|
|
|
1,104,849
|
|
|
|
1,260,875
|
|
|
Total liabilities and stockholders’ equity
|
|
$
|
1,231,774
|
|
|
$
|
1,445,836
|
|
The accompanying notes are an integral part of these condensed
consolidated financial statements.
3
AMERICAN WELL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS AND COMPREHENSIVE LOSS
(in thousands, except share and per share amounts)
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30,
|
|
|
Nine Months Ended September 30,
|
|
|
|
|
2022
|
|
|
2021
|
|
|
2022
|
|
|
2021
|
|
|
Revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($729,
$698,
$3,106 and
$11,005 from
related parties, respectively)
|
|
$
|
69,209
|
|
|
$
|
62,223
|
|
|
$
|
197,957
|
|
|
$
|
180,039
|
|
|
Costs and operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Costs of revenue, excluding depreciation and amortization of
intangible assets
|
|
|
41,507
|
|
|
|
35,184
|
|
|
$
|
114,769
|
|
|
|
104,778
|
|
|
Research and development
|
|
|
36,254
|
|
|
|
27,399
|
|
|
$
|
110,802
|
|
|
|
72,817
|
|
|
Sales and marketing
|
|
|
18,493
|
|
|
|
16,370
|
|
|
$
|
58,368
|
|
|
|
44,891
|
|
|
General and administrative
|
|
|
37,682
|
|
|
|
34,380
|
|
|
$
|
105,309
|
|
|
|
79,946
|
|
|
Depreciation and amortization expense
|
|
|
6,397
|
|
|
|
4,340
|
|
|
$
|
19,719
|
|
|
|
9,330
|
|
|
Total costs and operating expenses
|
|
|
140,333
|
|
|
|
117,673
|
|
|
|
408,967
|
|
|
|
311,762
|
|
|
Loss from operations
|
|
|
(71,124
|
)
|
|
|
(55,450
|
)
|
|
|
(211,010
|
)
|
|
|
(131,723
|
)
|
|
Interest income and other (expense) income, net
|
|
|
1,237
|
|
|
|
(382
|
)
|
|
$
|
2,109
|
|
|
|
(97
|
)
|
|
Loss before expense from income taxes and loss from
equity method investment
|
|
|
(69,887
|
)
|
|
|
(55,832
|
)
|
|
|
(208,901
|
)
|
|
|
(131,820
|
)
|
|
Benefit (Expense) from income taxes
|
|
|
(95
|
)
|
|
|
5,454
|
|
|
$
|
(224
|
)
|
|
|
5,042
|
|
|
Loss from equity method investment
|
|
|
(593
|
)
|
|
|
(554
|
)
|
|
$
|
(1,355
|
)
|
|
|
(2,095
|
)
|
|
Net loss
|
|
|
(70,575
|
)
|
|
|
(50,932
|
)
|
|
|
(210,480
|
)
|
|
|
(128,873
|
)
|
|
Net loss attributable to non-controlling interest
|
|
|
(491
|
)
|
|
|
562
|
|
|
$
|
(1,214
|
)
|
|
|
(332
|
)
|
|
Net loss attributable to American Well Corporation
|
|
$
|
(70,084
|
)
|
|
$
|
(51,494
|
)
|
|
$
|
(209,266
|
)
|
|
$
|
(128,541
|
)
|
|
Net loss per share attributable to common stockholders,
basic and diluted
|
|
$
|
(0.25
|
)
|
|
$
|
(0.20
|
)
|
|
$
|
(0.77
|
)
|
|
$
|
(0.51
|
)
|
|
Weighted-average common shares outstanding, basic and
diluted
|
|
|
277,389,730
|
|
|
|
257,283,961
|
|
|
|
272,846,985
|
|
|
|
250,115,414
|
|
|
Net loss
|
|
$
|
(70,575
|
)
|
|
$
|
(50,932
|
)
|
|
$
|
(210,480
|
)
|
|
$
|
(128,873
|
)
|
|
Other comprehensive loss, net of tax:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized gain (loss) on available-for-sale investments
|
|
|
1,002
|
|
|
|
0
|
|
|
|
(360
|
)
|
|
|
(85
|
)
|
|
Foreign currency translation
|
|
|
(11,213
|
)
|
|
|
(2,377
|
)
|
|
|
(24,343
|
)
|
|
|
(2,449
|
)
|
|
Comprehensive loss
|
|
|
(80,786
|
)
|
|
|
(53,309
|
)
|
|
|
(235,183
|
)
|
|
|
(131,407
|
)
|
|
Less: Comprehensive (loss) income attributable to
non-controlling interest
|
|
|
(491
|
)
|
|
|
562
|
|
|
|
(1,214
|
)
|
|
|
(332
|
)
|
|
Comprehensive loss attributable to American Well
Corporation
|
|
$
|
(80,295
|
)
|
|
$
|
(53,871
|
)
|
|
$
|
(233,969
|
)
|
|
$
|
(131,075
|
)
|
The accompanying notes are an integral part of these condensed
consolidated financial statements.
4
AMERICAN WELL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’
EQUITY
(in thousands, except share amounts)
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock
|
|
|
Additional
Paid-In
|
|
|
Accumulated
Other
Comprehensive
|
|
|
Accumulated
|
|
|
American Well
Corporation
Stockholders’
|
|
|
Noncontrolling
|
|
|
Total
Stockholders’
|
|
|
|
|
Shares
|
|
|
Amount
|
|
|
Capital
|
|
|
Loss
|
|
|
Deficit
|
|
|
Equity
|
|
|
Interest
|
|
|
Equity
|
|
|
Balances as of January 1, 2022
|
|
|
261,871,587
|
|
|
$
|
2,620
|
|
|
$
|
2,054,275
|
|
|
$
|
(6,353
|
)
|
|
$
|
(811,284
|
)
|
|
$
|
1,239,258
|
|
|
$
|
21,617
|
|
|
$
|
1,260,875
|
|
|
Exercise of common stock options
|
|
|
976,644
|
|
|
|
10
|
|
|
|
2,455
|
|
|
|
—
|
|
|
|
—
|
|
|
|
2,465
|
|
|
|
—
|
|
|
|
2,465
|
|
|
Vesting of restricted stock units
|
|
|
1,398,305
|
|
|
|
14
|
|
|
|
(14
|
)
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Issuance of stock under employee stock purchase plan
|
|
|
425,114
|
|
|
|
4
|
|
|
|
1,497
|
|
|
|
—
|
|
|
|
—
|
|
|
|
1,501
|
|
|
|
—
|
|
|
|
1,501
|
|
|
Issuance of common stock related to Conversa earn-out
settlement
|
|
|
1,020,964
|
|
|
|
10
|
|
|
|
4,288
|
|
|
|
—
|
|
|
|
—
|
|
|
|
4,298
|
|
|
|
—
|
|
|
|
4,298
|
|
|
Stock-based compensation expense
|
|
|
—
|
|
|
|
—
|
|
|
|
12,085
|
|
|
|
—
|
|
|
|
—
|
|
|
|
12,085
|
|
|
|
—
|
|
|
|
12,085
|
|
|
Capital contributed by selling shareholders of acquired
businesses
|
|
|
—
|
|
|
|
—
|
|
|
|
2,019
|
|
|
|
—
|
|
|
|
—
|
|
|
|
2,019
|
|
|
|
—
|
|
|
|
2,019
|
|
|
Currency translation adjustment
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(2,951
|
)
|
|
|
—
|
|
|
|
(2,951
|
)
|
|
|
—
|
|
|
|
(2,951
|
)
|
|
Unrealized losses on available-for-sale
securities, net of tax
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(1,251
|
)
|
|
|
—
|
|
|
|
(1,251
|
)
|
|
|
—
|
|
|
|
(1,251
|
)
|
|
Net loss
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(70,037
|
)
|
|
|
(70,037
|
)
|
|
|
(216
|
)
|
|
|
(70,253
|
)
|
|
Balances as of March 31, 2022
|
|
|
265,692,614
|
|
|
|
2,658
|
|
|
|
2,076,605
|
|
|
|
(10,555
|
)
|
|
|
(881,321
|
)
|
|
|
1,187,387
|
|
|
|
21,401
|
|
|
|
1,208,788
|
|
|
Exercise of common stock options
|
|
|
1,083,571
|
|
|
|
10
|
|
|
|
1,916
|
|
|
|
—
|
|
|
|
—
|
|
|
|
1,926
|
|
|
|
—
|
|
|
|
1,926
|
|
|
Vesting of restricted stock units
|
|
|
1,606,976
|
|
|
|
16
|
|
|
|
(16
|
)
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Issuance of common stock related to SilverCloud earn-out
settlement
|
|
|
4,959,856
|
|
|
|
50
|
|
|
|
12,895
|
|
|
|
—
|
|
|
|
—
|
|
|
|
12,945
|
|
|
|
—
|
|
|
|
12,945
|
|
|
Receipt of Section 16(b) disgorgement
|
|
|
—
|
|
|
|
—
|
|
|
|
295
|
|
|
|
—
|
|
|
|
—
|
|
|
|
295
|
|
|
|
—
|
|
|
|
295
|
|
|
Stock-based compensation expense
|
|
|
—
|
|
|
|
—
|
|
|
|
14,907
|
|
|
|
—
|
|
|
|
—
|
|
|
|
14,907
|
|
|
|
—
|
|
|
|
14,907
|
|
|
Capital contributed by selling shareholders of acquired
businesses
|
|
|
—
|
|
|
|
—
|
|
|
|
1,974
|
|
|
|
—
|
|
|
|
—
|
|
|
|
1,974
|
|
|
|
—
|
|
|
|
1,974
|
|
|
Currency translation adjustment
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(10,179
|
)
|
|
|
—
|
|
|
|
(10,179
|
)
|
|
|
—
|
|
|
|
(10,179
|
)
|
|
Unrealized losses on available-for-sale
securities, net of tax
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(111
|
)
|
|
|
—
|
|
|
|
(111
|
)
|
|
|
—
|
|
|
|
(111
|
)
|
|
Net loss
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(69,145
|
)
|
|
|
(69,145
|
)
|
|
|
(507
|
)
|
|
|
(69,652
|
)
|
|
Balances as of June 30, 2022
|
|
|
273,343,017
|
|
|
$
|
2,734
|
|
|
$
|
2,108,576
|
|
|
$
|
(20,845
|
)
|
|
$
|
(950,466
|
)
|
|
$
|
1,139,999
|
|
|
$
|
20,894
|
|
|
$
|
1,160,893
|
|
|
Exercise of common stock options
|
|
|
464,622
|
|
|
|
5
|
|
|
|
853
|
|
|
|
—
|
|
|
|
—
|
|
|
|
858
|
|
|
|
—
|
|
|
|
858
|
|
|
Vesting of restricted stock units
|
|
|
1,249,647
|
|
|
|
12
|
|
|
|
(12
|
)
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Shares withheld related to net share settlement and retired
treasury stock in 2022
|
|
|
(85,002
|
)
|
|
|
(1
|
)
|
|
|
(44
|
)
|
|
|
—
|
|
|
|
(315
|
)
|
|
|
(360
|
)
|
|
|
—
|
|
|
|
(360
|
)
|
|
Issuance of stock under employee stock purchase plan
|
|
|
278,034
|
|
|
|
3
|
|
|
|
999
|
|
|
|
—
|
|
|
|
—
|
|
|
|
1,002
|
|
|
|
—
|
|
|
|
1,002
|
|
|
Stock-based compensation expense
|
|
|
—
|
|
|
|
—
|
|
|
|
21,312
|
|
|
|
—
|
|
|
|
—
|
|
|
|
21,312
|
|
|
|
—
|
|
|
|
21,312
|
|
|
Capital contributed by selling shareholders of acquired
businesses
|
|
|
—
|
|
|
|
—
|
|
|
|
1,930
|
|
|
|
—
|
|
|
|
—
|
|
|
|
1,930
|
|
|
|
—
|
|
|
|
1,930
|
|
|
Currency translation adjustment
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(11,213
|
)
|
|
|
—
|
|
|
|
(11,213
|
)
|
|
|
—
|
|
|
|
(11,213
|
)
|
|
Unrealized losses on available-for-sale
securities, net of tax
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
1,002
|
|
|
|
—
|
|
|
|
1,002
|
|
|
|
—
|
|
|
|
1,002
|
|
|
Net loss
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(70,084
|
)
|
|
|
(70,084
|
)
|
|
|
(491
|
)
|
|
|
(70,575
|
)
|
|
Balances as of September 30, 2022
|
|
|
275,250,318
|
|
|
$
|
2,753
|
|
|
$
|
2,133,614
|
|
|
$
|
(31,056
|
)
|
|
$
|
(1,020,865
|
)
|
|
$
|
1,084,446
|
|
|
$
|
20,403
|
|
|
$
|
1,104,849
|
|
The accompanying notes are an integral part of these condensed
consolidated financial statements.
5
AMERICAN WELL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’
EQUITY
(in thousands, except share amounts)
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock
|
|
|
Treasury
|
|
|
Additional
Paid-In
|
|
|
Accumulated
Other
Comprehensive
|
|
|
Accumulated
|
|
|
American Well
Corporation
Stockholders’
|
|
|
Noncontrolling
|
|
|
Total
Stockholders’
|
|
|
|
|
Shares
|
|
|
Amount
|
|
|
Stock
|
|
|
Capital
|
|
|
Income (Loss)
|
|
|
Deficit
|
|
|
Equity
|
|
|
Interest
|
|
|
Equity
|
|
|
Balances as of January 1, 2021
|
|
|
235,604,105
|
|
|
$
|
2,357
|
|
|
$
|
(37,568
|
)
|
|
$
|
1,841,405
|
|
|
$
|
297
|
|
|
$
|
(582,359
|
)
|
|
$
|
1,224,132
|
|
|
$
|
22,065
|
|
|
$
|
1,246,197
|
|
|
Exercise of common stock options
|
|
|
3,474,375
|
|
|
|
34
|
|
|
|
—
|
|
|
|
10,096
|
|
|
|
—
|
|
|
|
—
|
|
|
|
10,130
|
|
|
|
—
|
|
|
|
10,130
|
|
|
Vesting of restricted stock units
|
|
|
853,842
|
|
|
|
9
|
|
|
|
—
|
|
|
|
(9
|
)
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Retirement of treasury stock purchased in 2020
|
|
|
—
|
|
|
|
—
|
|
|
|
37,568
|
|
|
|
(15
|
)
|
|
|
—
|
|
|
|
(37,553
|
)
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Shares withheld related to net share settlement and retired
treasury stock in 2021
|
|
|
(402,060
|
)
|
|
|
(4
|
)
|
|
|
—
|
|
|
|
4
|
|
|
|
—
|
|
|
|
(9,771
|
)
|
|
|
(9,771
|
)
|
|
|
—
|
|
|
|
(9,771
|
)
|
|
Stock-based compensation expense
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
8,642
|
|
|
|
—
|
|
|
|
—
|
|
|
|
8,642
|
|
|
|
—
|
|
|
|
8,642
|
|
|
Currency translation adjustment
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(52
|
)
|
|
|
—
|
|
|
|
(52
|
)
|
|
|
—
|
|
|
|
(52
|
)
|
|
Unrealized gains on available-for-sale
securities, net of tax
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
34
|
|
|
|
—
|
|
|
|
34
|
|
|
|
—
|
|
|
|
34
|
|
|
Net loss
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(39,188
|
)
|
|
|
(39,188
|
)
|
|
|
(617
|
)
|
|
|
(39,805
|
)
|
|
Balances as of March 31, 2021
|
|
|
239,530,262
|
|
|
|
2,396
|
|
|
|
—
|
|
|
|
1,860,123
|
|
|
|
279
|
|
|
|
(668,871
|
)
|
|
|
1,193,927
|
|
|
|
21,448
|
|
|
|
1,215,375
|
|
|
Exercise of common stock options
|
|
|
1,812,491
|
|
|
|
18
|
|
|
|
—
|
|
|
|
6,656
|
|
|
|
—
|
|
|
|
—
|
|
|
|
6,674
|
|
|
|
—
|
|
|
|
6,674
|
|
|
Vesting of restricted stock units
|
|
|
844,900
|