Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS??? EQUITY

v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Removal of beneficial conversion feature upon adoption of ASU 2020-06
Common stock
Common stock
Class A Common Units
Common stock
Class C Profits Units
Preferred Stock
Class B Preferred Units
Preferred Stock
Class B-1 Preferred Units
Additional paid-in capital
Additional paid-in capital
Removal of beneficial conversion feature upon adoption of ASU 2020-06
Accumulated other comprehensive loss
Accumulated deficit
Accumulated deficit
Removal of beneficial conversion feature upon adoption of ASU 2020-06
Beginning balance (in shares) at Dec. 31, 2020     0 37,998,000 6,711,000 20,628,000 16,322,000          
Beginning balance at Dec. 31, 2020 $ 111,749 $ (30,638) $ 0 $ 38 $ 7 $ 21 $ 16 $ 192,381 $ (31,075) $ 0 $ (80,714) $ 437
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Equity based compensation 68             68        
Net loss (26,074)                   (26,074)  
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 $28.0 million (in shares)     34,823,000                  
ROCH Shares Recapitalized, Net of Redemptions, Warrant Liability and Issuance Costs of $28.0 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)        
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)  
Beginning balance (in shares) at Dec. 31, 2020     0 37,998,000 6,711,000 20,628,000 16,322,000          
Beginning balance at Dec. 31, 2020 111,749 $ (30,638) $ 0 $ 38 $ 7 $ 21 $ 16 192,381 $ (31,075) 0 (80,714) $ 437
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net loss $ (37,133)                      
Issuance of units upon vesting of Legacy PCT profits interests (in shares) 0                      
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)  
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]                        
Equity based compensation 835             835        
Unrealized loss on available for sale debt securities (106)                 (106)    
Net loss (11,059)                   (11,059)  
Forfeiture of restricted stock (in shares)     (10,000)                  
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)  
Beginning balance (in shares) at Dec. 31, 2021     127,647,000 0 0 0 0          
Beginning balance at Dec. 31, 2021 381,535   $ 128 $ 0 $ 0 $ 0 $ 0 539,423   (237) (157,779)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuance of common stock (in shares)     35,714,000                  
Issuance of common stock 205,296   $ 35         205,261        
Share repurchase (in shares)     (130,000)                  
Share repurchase (1,049)             (1,049)        
Equity based compensation (in shares)     3,000                  
Equity based compensation 3,171             3,171        
Unrealized loss on available for sale debt securities (340)                 (340)    
Net loss (25,432)                   (25,432)  
Ending balance (in shares) at Mar. 31, 2022     163,234,000 0 0 0 0          
Ending balance at Mar. 31, 2022 563,181   $ 163 $ 0 $ 0 $ 0 $ 0 746,806   (577) (183,211)  
Beginning balance (in shares) at Dec. 31, 2021     127,647,000 0 0 0 0          
Beginning balance at Dec. 31, 2021 381,535   $ 128 $ 0 $ 0 $ 0 $ 0 539,423   (237) (157,779)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net loss $ (40,436)                      
Issuance of units upon vesting of Legacy PCT profits interests (in shares) 0                      
Ending balance (in shares) at Jun. 30, 2022     163,282,000 0 0 0 0          
Ending balance at Jun. 30, 2022 $ 550,967   $ 163 $ 0 $ 0 $ 0 $ 0 750,056   (1,037) (198,215)  
Beginning balance (in shares) at Mar. 31, 2022     163,234,000 0 0 0 0          
Beginning balance at Mar. 31, 2022 563,181   $ 163 $ 0 $ 0 $ 0 $ 0 746,806   (577) (183,211)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Share repurchase (in shares)     (2,000)                  
Share repurchase (17)             (17)        
Equity based compensation (in shares)     50,000                  
Equity based compensation 3,267             3,267        
Unrealized loss on available for sale debt securities (460)                 (460)    
Net loss (15,004)                   (15,004)  
Ending balance (in shares) at Jun. 30, 2022     163,282,000 0 0 0 0          
Ending balance at Jun. 30, 2022 $ 550,967   $ 163 $ 0 $ 0 $ 0 $ 0 $ 750,056   $ (1,037) $ (198,215)