Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS??? EQUITY

v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Removal of beneficial conversion feature upon adoption of ASU 2020-06
As reported
Conversion of stock
Common Stock
Common Stock
Common Stock
Common Stock
As reported
Common Stock
Class A Common Units
Common Stock
Class A Common Units
As reported
Common Stock
Class A Common Units
Conversion of stock
Common Stock
Class C Profits Units
Common Stock
Class C Profits Units
As reported
Common Stock
Class C Profits Units
Conversion of stock
Preferred Stock
Class B Preferred Units
Preferred Stock
Class B Preferred Units
As reported
Preferred Stock
Class B Preferred Units
Conversion of stock
Preferred Stock
Class B-1 Preferred Units
Preferred Stock
Class B-1 Preferred Units
As reported
Preferred Stock
Class B-1 Preferred Units
Conversion of stock
Additional paid-in capital
Additional paid-in capital
Removal of beneficial conversion feature upon adoption of ASU 2020-06
Additional paid-in capital
As reported
Additional paid-in capital
Conversion of stock
Accumulated other comprehensive loss
Accumulated other comprehensive loss
As reported
Accumulated deficit
Accumulated deficit
Removal of beneficial conversion feature upon adoption of ASU 2020-06
Accumulated deficit
As reported
Beginning balance (in shares) at Dec. 31, 2019         0 0 27,156,000 2,581,000 24,575,000 4,061,000 436,000 3,625,000 18,388,000 1,728,000 16,660,000 9,300,000 630,000 8,670,000                  
Beginning balance at Dec. 31, 2019 $ 2,380   $ 2,380 $ 0 $ 0 $ 0 $ 27 $ 387 $ (360) $ 4 $ 4,054 $ (4,050) $ 18 $ 1,898 $ (1,880) $ 9 $ 23,656 $ (23,647) $ 30,044   $ 107 $ 29,937 $ 0 $ 0 $ (27,722)   $ (27,722)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                      
Issuance of units (in shares)                               4,578,000                      
Issuance of units 11,574                             $ 5     11,569                
Issuance of units upon vesting of Legacy PCT profits interests (in shares)                   362,000                                  
Issuance of units upon vesting of Legacy PCT profits interests 417                                   417                
Net loss (4,564)                                               (4,564)    
Ending balance (in shares) at Mar. 31, 2020         0   27,156,000     4,423,000     18,388,000     13,878,000                      
Ending balance at Mar. 31, 2020 9,807       $ 0   $ 27     $ 4     $ 18     $ 14     42,030       0   (32,286)    
Beginning balance (in shares) at Dec. 31, 2019         0 0 27,156,000 2,581,000 24,575,000 4,061,000 436,000 3,625,000 18,388,000 1,728,000 16,660,000 9,300,000 630,000 8,670,000                  
Beginning balance at Dec. 31, 2019 $ 2,380   2,380 0 $ 0 $ 0 $ 27 $ 387 $ (360) $ 4 $ 4,054 $ (4,050) $ 18 $ 1,898 $ (1,880) $ 9 $ 23,656 $ (23,647) 30,044   107 29,937 0 0 (27,722)   (27,722)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                      
Issuance of units upon vesting of Legacy PCT profits interests (in shares) 0                                                    
Net loss $ (15,588)                                                    
Ending balance (in shares) at Sep. 30, 2020         0   27,156,000     5,818,000     18,388,000     16,316,000                      
Ending balance at Sep. 30, 2020 6,835       $ 0   $ 27     $ 6     $ 18     $ 16     50,078       0   (43,310)    
Beginning balance (in shares) at Mar. 31, 2020         0   27,156,000     4,423,000     18,388,000     13,878,000                      
Beginning balance at Mar. 31, 2020 9,807       $ 0   $ 27     $ 4     $ 18     $ 14     42,030       0   (32,286)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                      
Issuance of units (in shares)                               393,000                      
Issuance of units 920                             $ 0     920                
Issuance of units upon vesting of Legacy PCT profits interests (in shares)                   147,000                                  
Issuance of units upon vesting of Legacy PCT profits interests 173                 $ 1                 172                
Net loss (4,415)                                               (4,415)    
Ending balance (in shares) at Jun. 30, 2020         0   27,156,000     4,570,000     18,388,000     14,271,000                      
Ending balance at Jun. 30, 2020 6,485       $ 0   $ 27     $ 5     $ 18     $ 14     43,122       0   (36,701)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                      
Issuance of units (in shares)                               2,045,000                      
Issuance of units 5,012                             $ 2     5,010                
Issuance of units upon vesting of Legacy PCT profits interests (in shares)                   1,256,000                                  
Issuance of units upon vesting of Legacy PCT profits interests 1,963                 $ 1                 1,962                
Redemption of vested profit units (in shares)                   (8,000)                                  
Redemption of vested profit units (16)                                   (16)                
Net loss (6,609)                                               (6,609)    
Ending balance (in shares) at Sep. 30, 2020         0   27,156,000     5,818,000     18,388,000     16,316,000                      
Ending balance at Sep. 30, 2020 6,835       $ 0   $ 27     $ 6     $ 18     $ 16     50,078       0   (43,310)    
Beginning balance (in shares) at Dec. 31, 2020         0 0 37,998,000 3,612,000 34,386,000 6,711,000 775,000 5,936,000 20,628,000 1,938,000 18,690,000 16,322,000 1,105,000 15,217,000                  
Beginning balance at Dec. 31, 2020 111,749 $ (30,638) 111,749 0 $ 0 $ 0 $ 38 $ 88,081 $ (88,043) $ 7 $ 11,967 $ (11,960) $ 21 $ 20,071 $ (20,050) $ 16 $ 41,162 $ (41,146) 192,381 $ (31,075) 31,182 161,199 0 0 (80,714) $ 437 (80,714)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                      
Issuance of units upon vesting of Legacy PCT profits interests (in shares)                   116,000                                  
Issuance of units upon vesting of Legacy PCT profits interests 239                                   239                
Redemption of vested profit units (in shares)                   (5,000)                                  
Redemption of vested profit units (36)                                   (36)                
Merger Recapitalization (in shares)         81,754,000   (37,998,000)     (6,822,000)     (20,628,000)     (16,322,000)                      
Merger Recapitalization 0       $ 82   $ (38)     $ (7)     $ (21)     $ (16)                      
ROCH Shares Recapitalized, Net of Redemptions, Warrant Liability and Issuance Costs of $27.9 million (in shares)         34,823,000                                            
ROCH Shares Recapitalized, Net of Redemptions, Warrant Liability and Issuance Costs of $27.9 million 293,966       $ 35                           293,931                
Issuance of restricted stock awards (in shares)         775,000                                            
Issuance of restricted stock awards 0       $ 1                           (1)                
Forfeiture of restricted stock (in shares)         (3,000)                                            
Forfeiture of restricted stock 0       $ (1)                           1                
Reclassification of redeemable warrant to liability (33)                                   (33)                
Equity based compensation 68                                   68                
Net loss (26,074)                                               (26,074)    
Ending balance (in shares) at Mar. 31, 2021         117,349,000   0     0     0     0                      
Ending balance at Mar. 31, 2021 $ 349,241       $ 117   $ 0     $ 0     $ 0     $ 0     455,475       0   (106,351)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                      
Accounting Standards Update [Extensible List] pct:AccountingStandardsUpdate2020-06                                                    
Beginning balance (in shares) at Dec. 31, 2020         0 0 37,998,000 3,612,000 34,386,000 6,711,000 775,000 5,936,000 20,628,000 1,938,000 18,690,000 16,322,000 1,105,000 15,217,000                  
Beginning balance at Dec. 31, 2020 $ 111,749 $ (30,638) $ 111,749 $ 0 $ 0 $ 0 $ 38 $ 88,081 $ (88,043) $ 7 $ 11,967 $ (11,960) $ 21 $ 20,071 $ (20,050) $ 16 $ 41,162 $ (41,146) 192,381 $ (31,075) $ 31,182 $ 161,199 0 $ 0 (80,714) $ 437 $ (80,714)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                      
Issuance of units upon vesting of Legacy PCT profits interests (in shares) 0                                                    
Net loss $ (58,110)                                                    
Ending balance (in shares) at Sep. 30, 2021         118,251,000   0     0     0     0                      
Ending balance at Sep. 30, 2021 330,135       $ 118   $ 0     $ 0     $ 0     $ 0     468,421       (17)   (138,387)    
Beginning balance (in shares) at Mar. 31, 2021         117,349,000   0     0     0     0                      
Beginning balance at Mar. 31, 2021 349,241       $ 117   $ 0     $ 0     $ 0     $ 0     455,475       0   (106,351)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                      
Forfeiture of restricted stock (in shares)         (10,000)                                            
Forfeiture of restricted stock 0                                                    
Equity based compensation 835                                   835                
Unrealized gain on available for sale debt securities (106)                                           (106)        
Net loss (11,059)                                               (11,059)    
Ending balance (in shares) at Jun. 30, 2021         117,339,000   0     0     0     0                      
Ending balance at Jun. 30, 2021 338,911       $ 117   $ 0     $ 0     $ 0     $ 0     456,310       (106)   (117,410)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                      
Issuance of restricted stock awards (in shares)         1,000,000                                            
Issuance of restricted stock awards 0       $ 1                           (1)                
Exercise of warrants (in shares)         17,000                                            
Exercise of warrants 196                                   196                
Equity based compensation (in shares)         26,000                                            
Equity based compensation 13,611                                   13,611                
Stock repurchase (in shares)         (131,000)                                            
Share repurchase (1,695)                                   (1,695)                
Unrealized gain on available for sale debt securities 89                                           89        
Net loss (20,977)                                               (20,977)    
Ending balance (in shares) at Sep. 30, 2021         118,251,000   0     0     0     0                      
Ending balance at Sep. 30, 2021 $ 330,135       $ 118   $ 0     $ 0     $ 0     $ 0     $ 468,421       $ (17)   $ (138,387)