Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Nov. 01, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001757715 | |
Entity Registrant Name | Aterian, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-38937 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 83-1739858 | |
Entity Address, Address Line One | 350 Springfield Avenue, Suite 200 | |
Entity Address, City or Town | Summit | |
Entity Address, State or Province | NJ | |
Entity Address, Postal Zip Code | 07901 | |
City Area Code | 347 | |
Local Phone Number | 676-1681 | |
Title of 12(b) Security | Common Stock, $0.0001 par value per share | |
Trading Symbol | ATER | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 90,213,264 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash | $ 27,955 | $ 43,574 |
Accounts receivable, net | 3,271 | 4,515 |
Inventory | 31,493 | 43,666 |
Prepaid and other current assets | 5,963 | 8,261 |
Total current assets | 68,682 | 100,016 |
Property and equipment, net | 792 | 853 |
Other intangibles, net | 12,016 | 54,757 |
Other non-current assets | 541 | 813 |
Total assets | 82,031 | 156,439 |
Current Liabilities: | ||
Credit facility | 14,182 | 21,053 |
Accounts payable | 12,464 | 16,035 |
Seller notes | 1,196 | 1,693 |
Accrued and other current liabilities | 10,740 | 14,254 |
Total current liabilities | 38,582 | 53,035 |
Other liabilities | 1,540 | 1,452 |
Total liabilities | 40,122 | 54,487 |
Commitments and contingencies (Note 9) | ||
Stockholders' equity: | ||
Common stock, $0.0001 par value, 500,000,000 shares authorized and 80,752,290 and 89,132,183 shares outstanding at December 31, 2022 and September 30, 2023, respectively | 9 | 8 |
Additional paid-in capital | 735,110 | 728,339 |
Accumulated deficit | (692,108) | (625,251) |
Accumulated other comprehensive loss | (1,102) | (1,144) |
Total stockholders’ equity | 41,909 | 101,952 |
Total liabilities and stockholders' equity | $ 82,031 | $ 156,439 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2023 | Dec. 31, 2022 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, issued (in shares) | 89,132,183 | 80,752,290 |
Common stock, outstanding (in shares) | 89,132,183 | 80,752,290 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net revenue | $ 39,668 | $ 66,326 | $ 109,811 | $ 166,268 |
Cost of good sold | 20,085 | 36,135 | 56,236 | 81,118 |
Gross profit | 19,583 | 30,191 | 53,575 | 85,150 |
Operating expenses: | ||||
Sales and distribution | 20,921 | 33,792 | 61,704 | 88,632 |
Research and development | 852 | 1,706 | 3,808 | 4,582 |
General and administrative | 4,326 | 10,369 | 16,566 | 29,481 |
Impairment loss on goodwill | 0 | 90,921 | 0 | 119,941 |
Impairment loss on intangibles | 0 | 3,118 | 39,445 | 3,118 |
Change in fair value of contingent earn-out liabilities | 0 | (774) | 0 | (5,240) |
Total operating expenses | 26,099 | 139,132 | 121,523 | 240,514 |
Operating loss | (6,516) | (108,941) | (67,948) | (155,364) |
Interest expense, net | 359 | 904 | 1,076 | 2,043 |
Gain on extinguishment of seller note | 0 | 0 | 0 | (2,012) |
Loss on initial issuance of equity | 0 | 12,834 | 0 | 18,669 |
Change in fair value of warrant liability | (567) | (5,528) | (2,410) | 2,365 |
Other (income) expense, net | (128) | (174) | 101 | (199) |
Loss before income taxes | (6,180) | (116,977) | (66,715) | (176,230) |
Provision (benefit) for income taxes | 90 | (75) | 142 | (243) |
Net loss | $ (6,270) | $ (116,902) | $ (66,857) | $ (175,987) |
Net loss per share, basic and diluted (in dollars per share) | $ (0.08) | $ (1.81) | $ (0.86) | $ (2.78) |
Weighted-average number of shares outstanding, basic and diluted (in shares) | 79,022,467 | 64,648,650 | 77,801,774 | 63,397,196 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net loss | $ (6,270) | $ (116,902) | $ (66,857) | $ (175,987) |
Other comprehensive loss: | ||||
Foreign currency translation adjustments | (213) | (485) | 42 | (1,087) |
Other comprehensive loss | (213) | (485) | 42 | (1,087) |
Comprehensive loss | $ (6,483) | $ (117,387) | $ (66,815) | $ (177,074) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
BALANCE (in shares) at Dec. 31, 2021 | 55,090,237 | ||||
BALANCE at Dec. 31, 2021 | $ 5 | $ 653,650 | $ (428,959) | $ (468) | $ 224,228 |
Net loss | $ 0 | 0 | (175,987) | 0 | (175,987) |
Issuance of shares of restricted common stock (in shares) | 4,350,642 | ||||
Issuance of shares of restricted common stock | $ 1 | 0 | 0 | 0 | 1 |
Forfeiture of shares of restricted common stock (in shares) | (233,561) | ||||
Issuance of common stock (in shares) | 23,362 | ||||
Issuance of common stock | 43 | 43 | |||
Loss on initial issuance of equity | 1,137 | 1,137 | |||
Stock-based compensation expense | 0 | 8,446 | 0 | 0 | 8,446 |
Other comprehensive income (loss) | $ 0 | 0 | 0 | (1,087) | (1,087) |
Exercise of prefunded warrants (in shares) | 3,013,850 | ||||
Exercise of prefunded warrants | $ 0 | 15,039 | 0 | 0 | 15,039 |
Issuance of common stock settlement of seller note (in shares) | 292,887 | ||||
Issuance of common stock settlement of seller note | $ 0 | 767 | 767 | ||
Issuance of common stock, net of issuance costs (in shares) | 7,003,332 | ||||
Issuance of common stock, net of issuance costs | $ 1 | 27,006 | 27,007 | ||
Issuance of warrants in connection with offering | 0 | (18,982) | 0 | 0 | (18,982) |
Loss on initial issuance of equity | 18,669 | 18,669 | |||
BALANCE (in shares) at Sep. 30, 2022 | 69,540,749 | ||||
BALANCE at Sep. 30, 2022 | $ 7 | 705,775 | (604,946) | (1,555) | 99,281 |
BALANCE (in shares) at Jun. 30, 2022 | 69,219,384 | ||||
BALANCE at Jun. 30, 2022 | $ 7 | 689,955 | (488,044) | (1,070) | 200,848 |
Net loss | $ 0 | 0 | (116,902) | 0 | (116,902) |
Issuance of shares of restricted common stock (in shares) | 329,968 | ||||
Issuance of shares of restricted common stock | $ 0 | 0 | 0 | 0 | 0 |
Forfeiture of shares of restricted common stock (in shares) | (31,965) | ||||
Issuance of common stock (in shares) | 23,362 | ||||
Issuance of common stock | $ 0 | 43 | 0 | 0 | 43 |
Loss on initial issuance of equity | 0 | 12,834 | 0 | 0 | 12,834 |
Stock-based compensation expense | 0 | 2,943 | 0 | 0 | 2,943 |
Other comprehensive income (loss) | $ 0 | 0 | 0 | (485) | (485) |
Loss on initial issuance of equity | 12,834 | ||||
BALANCE (in shares) at Sep. 30, 2022 | 69,540,749 | ||||
BALANCE at Sep. 30, 2022 | $ 7 | 705,775 | (604,946) | (1,555) | 99,281 |
BALANCE (in shares) at Dec. 31, 2022 | 80,752,290 | ||||
BALANCE at Dec. 31, 2022 | $ 8 | 728,339 | (625,251) | (1,144) | 101,952 |
Net loss | $ 0 | 0 | (66,857) | 0 | (66,857) |
Issuance of shares of restricted common stock (in shares) | 12,050,644 | ||||
Issuance of shares of restricted common stock | $ 1 | 0 | 0 | 0 | 1 |
Forfeiture of shares of restricted common stock (in shares) | (3,970,751) | ||||
Stock-based compensation expense | $ 0 | 6,481 | 0 | 0 | 6,481 |
Other comprehensive income (loss) | $ 0 | 0 | 0 | 42 | 42 |
Issuance of common stock, net of issuance costs (in shares) | 300,000 | ||||
Issuance of common stock, net of issuance costs | $ 0 | 290 | 0 | 0 | 290 |
Loss on initial issuance of equity | 0 | ||||
BALANCE (in shares) at Sep. 30, 2023 | 89,132,183 | ||||
BALANCE at Sep. 30, 2023 | $ 9 | 735,110 | (692,108) | (1,102) | 41,909 |
BALANCE (in shares) at Jun. 30, 2023 | 88,014,844 | ||||
BALANCE at Jun. 30, 2023 | $ 9 | 733,878 | (685,838) | (889) | 47,160 |
Net loss | $ 0 | 0 | (6,270) | 0 | (6,270) |
Issuance of shares of restricted common stock (in shares) | 3,959,679 | ||||
Issuance of shares of restricted common stock | $ 0 | 0 | 0 | 0 | 0 |
Forfeiture of shares of restricted common stock (in shares) | (2,842,340) | ||||
Stock-based compensation expense | $ 0 | 1,232 | 0 | 0 | 1,232 |
Other comprehensive income (loss) | $ 0 | 0 | 0 | (213) | (213) |
Loss on initial issuance of equity | 0 | ||||
BALANCE (in shares) at Sep. 30, 2023 | 89,132,183 | ||||
BALANCE at Sep. 30, 2023 | $ 9 | $ 735,110 | $ (692,108) | $ (1,102) | $ 41,909 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | ||
OPERATING ACTIVITIES: | |||||||||
Net loss | $ (6,270) | $ (116,902) | $ (66,857) | $ (175,987) | |||||
Adjustments to reconcile net loss to net cash used by operating activities: | |||||||||
Depreciation and amortization | 3,416 | 5,763 | |||||||
Provision for sales returns | (215) | 134 | |||||||
Amortization of deferred financing cost and debt discounts | 321 | 321 | |||||||
Issuance of common stock | 0 | 43 | |||||||
Stock-based compensation | 6,771 | 11,854 | |||||||
Gain from decrease of contingent earn-out liability fair value | 0 | (774) | 0 | (5,240) | $ 5,240 | ||||
Change in inventory provisions | 213 | 0 | |||||||
Loss (gain) in connection with the change in warrant fair value | (567) | (5,528) | (2,410) | 2,365 | |||||
Gain in connection with settlement of note payable | 0 | 0 | 0 | (2,012) | |||||
Loss on initial issuance of equity | 0 | 12,834 | 0 | 18,669 | |||||
Impairment loss on goodwill | 0 | $ 500 | 90,921 | $ 29,000 | 0 | 119,941 | 120,409 | [1] | |
Impairment loss on intangibles | 0 | $ 16,700 | 3,118 | 39,445 | 3,118 | 3,118 | |||
Allowance for doubtful accounts and other | 59 | 219 | |||||||
Changes in assets and liabilities: | |||||||||
Accounts receivable | 1,186 | 5,326 | |||||||
Inventory | 11,960 | 2,588 | |||||||
Prepaid and other current assets | 1,942 | 3,351 | |||||||
Accounts payable, accrued and other liabilities | (4,289) | (9,994) | |||||||
Cash used in operating activities | (8,458) | (19,541) | |||||||
INVESTING ACTIVITIES: | |||||||||
Purchase of fixed assets | (80) | (29) | |||||||
Purchase of Step and Go assets | (125) | 0 | |||||||
Cash used in investing activities | (205) | (29) | |||||||
FINANCING ACTIVITIES: | |||||||||
Proceeds from equity offering, net of issuance costs | 0 | 27,007 | |||||||
Repayments on note payable to Smash | (518) | (2,868) | |||||||
Payment of Squatty Potty earn-out | 0 | (3,983) | (3,983) | ||||||
Borrowings from MidCap credit facilities | 63,978 | 107,678 | |||||||
Repayments for MidCap credit facilities | (71,165) | (116,924) | |||||||
Insurance obligation payments | (788) | (1,778) | |||||||
Insurance financing proceeds | 986 | 2,099 | |||||||
Cash provided (used) by financing activities | (7,507) | 11,231 | |||||||
Foreign currency effect on cash, cash equivalents, and restricted cash | 42 | (936) | |||||||
Net change in cash and restricted cash for the year | (16,128) | (9,275) | |||||||
Cash and restricted cash at beginning of year | $ 46,629 | 29,040 | $ 38,315 | 46,629 | 38,315 | 38,315 | |||
Cash and restricted cash at end of year | 30,501 | 46,629 | 29,040 | 30,501 | 29,040 | 46,629 | |||
RECONCILIATION OF CASH AND RESTRICTED CASH: | |||||||||
Cash | 27,955 | 25,997 | 27,955 | 25,997 | |||||
Restricted Cash—Prepaid and other current assets | 2,417 | 2,914 | 2,417 | 2,914 | |||||
Restricted cash—Other non-current assets | 129 | 129 | 129 | 129 | |||||
TOTAL CASH AND RESTRICTED CASH | $ 30,501 | $ 46,629 | $ 29,040 | 30,501 | 29,040 | $ 46,629 | |||
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||||||||
Cash paid for interest | 1,457 | 1,409 | |||||||
Cash paid for taxes | 90 | 58 | |||||||
NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||||||||
Non-cash consideration paid to contractors | 321 | 1,137 | |||||||
Fair value of warrants issued in connection with equity offering | 0 | 18,982 | |||||||
Issuance of common stock related to exercise of warrants | 0 | 767 | |||||||
Issuance of common stock | 0 | 43 | |||||||
Exercise of prefunded warrants | $ 0 | $ 15,039 | |||||||
[1]The Company evaluated current economic conditions during 2022, including the impact of the Federal Reserve further increasing the risk-free interest rate, as well as the inflationary pressure on product and labor costs and operational impacts attributable to continued global supply chain disruptions. The Company believed that these conditions were factors in our market capitalization falling below the book value of net assets during the fiscal quarters ending March 31, 2022 and September 30, 2022. Accordingly, the Company concluded a triggering event had occurred in each of these periods and performed interim goodwill impairment analyses. As a result, the Company recorded a goodwill impairment charge of approximately $29.0 million and $90.9 during the three months ended March 31, 2022 and September 30, 2022, respectively. On October 4, 2022, the Company acquired Step and Go, a brand in the health and Wellness category, for $0.7 million. As part of the purchase price allocation of the acquisition, $0.5 million was attributed to goodwill. As our market capitalization was further reduced below net assets as of December 31, 2022, we concluded a triggering event has occurred to test goodwill, an impairment loss on goodwill of $0.5 million was recorded for the three months ended December 31, 2022, which is included in impairment loss on goodwill in the Consolidated Statement of Operations for the year-ended December 31, 2022. |
Note 1 - Organization and Descr
Note 1 - Organization and Description of Business | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. ORGANIZATION AND DESCRIPTION OF BUSINESS Aterian, Inc. is a technology-enabled consumer products company that predominantly operates through online retail channels such as Amazon and Walmart. The Company operates its owned brands, which were either incubated or purchased, selling products in multiple categories, including home and kitchen appliances, kitchenware, cooling and air quality appliances (dehumidifiers, humidifiers and air conditioners), health and beauty products and essential oils. Headquartered in New Jersey, Aterian also maintains offices in China, Philippines, and Poland. Liquidity and Going Concern As an emerging growth company in the early commercialization stage of its lifecycle, we are subject to inherent risks and uncertainties associated with the development of our enterprise. In this regard, substantially all of our efforts to date have been devoted to the development and sale of our products in the marketplace, which includes our investment in organic growth at the expense of short-term profitably, our investment in incremental growth through mergers & acquisitions (“M&A strategy”), our recruitment of management and technical staff, and raising capital to fund the development of our enterprise. As a result of these efforts, we have incurred significant losses and negative cash flows from operations since our inception and expect to continue to incur such losses and negative cash flows for the foreseeable future until such time that we reach a scale of profitability to sustain our operations. We have also experienced declining revenues due to macroeconomic factors, including increased interest rates and reduced consumer discretionary spending, and other factors, and we intend to focus our efforts on a more limited number of products. In addition, our recent financial performance has been adversely impacted by inflationary pressures and reduced consumer spending. In order to execute our growth strategy, we have historically relied on outside capital through the issuance of equity, debt, and borrowings under financing arrangements (collectively “outside capital”) to fund our cost structure, and we expect to continue to rely on outside capital for the foreseeable future, specifically for our M&A strategy. While we believe we will eventually reach a level of profitability to sustain our operations, there can be no not no As of the date the accompanying Condensed Consolidated Financial Statements were issued (the “issuance date”), we evaluated the significance of the following adverse financial conditions in accordance with Accounting Standard Codification 205 40, • Since our inception, we have incurred significant losses and used cash flows from operations to fund our enterprise. In this regard, during the nine September 30, 2023 September 30, 2023 nine September 30, 2023 nine September 30, 2022 • We are required to remain in compliance with certain financial covenants required by the MidCap Credit facility (See Note 6, September 30, 2023 September 30, 2024. 19 no may may, may • As of the issuance date, we have no no may twelve • The Company's plan is to continue to closely monitor our operating forecast, to pursue our M&A strategy, to pursue additional sources of outside capital on terms that are acceptable to us, and to secure a waiver or forbearance from MidCap if we are unable to remain in compliance with one no not not may not may Nasdaq Listing - April 24, 2023, 30 not $1.00 5550 2 180 October 23, 2023, 5810 3 October 13, 2023, October 24, 2023, 180 April 22, 2024, The Bid Price Notice has no If at any time before April 22, 2024, $1.00 10 5810 3 20 The Company will continue to monitor the closing bid price of its Common Stock and seek to regain compliance with all applicable Nasdaq requirements within the allotted compliance period. If the Company does not no In the future, if our common stock remains below the continued listing standard of $1.00 third Further, we may no not Restructuring - May 9, 2023, three nine September 30, 2023, |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Unaudited Interim Financial Information September 30, 2023 September 30, 2022 2023 three nine September 30, 2022 2023 three nine September 30, 2023 not December 31, 2023 Use of Estimates Principles of Consolidation Restricted Cash December 31, 2022 As of September 30, 2023 Inventory and Cost of Goods Sold first first may The “Cost of goods sold” line item in the Condensed Consolidated Statements of Operations consists of the book value of inventory sold to customers during the reporting period. When circumstances dictate that the Company use net realizable value as the basis for recording inventory, it bases its estimates on expected future selling prices less expected disposal costs. Accounts Receivable not not December 31, 2022 September 30, 2023 Revenue Recognition 606, 606” For direct-to-consumer sales, the Company considers customer order confirmations to be a contract with the customer. Customer confirmations are executed at the time an order is placed through third For all of the Company’s sales and distribution channels, revenue is recognized when control of the product is transferred to the customer (i.e., when the Company’s performance obligation is satisfied), which typically occurs at shipment date. As a result, the Company has a present and unconditional right to payment and record the amount due from the customer in accounts receivable. Revenue from consumer product sales is recorded at the net sales price (transaction price), which includes an estimate of future returns based on historical return rates. There is judgment in utilizing historical trends for estimating future returns. The Company’s refund liability for sales returns was $0.6 million at December 31, 2022 September 30, 2023 The Company evaluated principal versus agent considerations to determine whether it is appropriate to record platform fees paid to Amazon as an expense or as a reduction of revenue. Platform fees are recorded as sales and distribution expenses and are not third Net Revenue by Category Three Months Ended September 30, 2022 (in thousands) Direct Wholesale/Other Total North America $ 62,818 $ 2,530 $ 65,348 Other 978 — 978 Total net revenue $ 63,796 $ 2,530 $ 66,326 Three Months Ended September 30, 2023 (in thousands) Direct Wholesale/Other Total North America $ 38,314 $ 142 $ 38,456 Other 1,212 — 1,212 Total net revenue $ 39,526 $ 142 $ 39,668 Nine Months Ended September 30, 2022 (in thousands) Direct Wholesale/Other Total North America $ 158,399 $ 4,415 $ 162,814 Other 3,454 — 3,454 Total net revenue $ 161,853 $ 4,415 $ 166,268 Nine Months Ended September 30, 2023 (in thousands) Direct Wholesale/Other Total North America $ 103,451 $ 2,454 $ 105,905 Other 3,906 — 3,906 Total net revenue $ 107,357 $ 2,454 $ 109,811 Net Revenue by Product Categories three nine September 30, 2022 2023 Three Months Ended September 30, 2022 2023 (in thousands) Heating, cooling and air quality $ 27,179 $ 15,770 Kitchen appliances 10,504 5,586 Health and beauty 3,661 3,034 Personal protective equipment 516 — Cookware, kitchen tools and gadgets 5,128 2,408 Home office 3,045 2,116 Housewares 8,787 6,418 Essential oils and related accessories 6,262 3,935 Other 1,244 401 Total net revenue $ 66,326 $ 39,668 Nine Months Ended September 30, 2022 2023 (in thousands) Heating, cooling and air quality $ 56,835 $ 29,512 Kitchen appliances 27,438 18,234 Health and beauty 12,452 11,725 Personal protective equipment 1,565 549 Cookware, kitchen tools and gadgets 14,229 8,315 Home office 10,077 7,410 Housewares 23,478 19,558 Essential oils and related accessories 17,102 12,787 Other 3,092 1,721 Total net revenue $ 166,268 $ 109,811 Intangibles may not may not On March 20, 2023, three March 31, 2023 may not 3 three March 31, 2023 During the three June 30, 2023, three June 30, 2023, three June 30, 2023 may not 3 three June 30, 2023 no three September 30, 2023. For the nine September 30, 2022 2023, approximately$3.1 Fair Value of Financial Instruments September 30, 2023 December 31, 2022 September 30, 2023 2 The fair value of the Prefunded Warrants (as defined in the “Securities Purchase Agreement and Warrants” section of this Quarterly Report) and stock purchase warrants issued in connection with the Company’s common stock offering on March 1, 2022 480, Distinguishing Liabilities from Equity ( ASC 480 ) 815, Derivatives and Hedging ( ASC 815 ) The fair value of the contingent consideration related to business combinations is estimated using a probability-adjusted discounted cash flow model. These fair value measurements are based on significant inputs not Assets and liabilities recorded at fair value on a recurring basis in the Condensed Consolidated Balance Sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The authoritative guidance on fair value measurements establishes a three Level 1 Level 2 not Level 3 no The following table summarizes the fair value of the Company’s financial assets that are measured at fair value as of December 31, 2022 September 30, 2023 December 31, 2022 Fair Value Measurement Category Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 43,574 $ — $ — Restricted Cash 3,055 — — Liabilities: Fair value of warrant liability — — 3,473 September 30, 2023 Fair Value Measurement Category Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 27,955 $ — $ — Restricted cash 2,546 — — Liabilities: Fair value of warrant liability — — 1,063 A summary of the activity of the Level 3 December 31, 2022 nine September 30, 2023 December 31, 2022 Warrants liability as of January 1, 2022 $ — Change in fair value of warrants 3,473 Warrants liability as of December 31, 2022 $ 3,473 September 30, 2023 Warrants liability as of January 1, 2023 $ 3,473 Change in fair value of warrants (2,410 ) Warrants liability as of September 30, 2023 $ 1,063 Adopted Accounting Standards In August 2020, No. 2020 06, 470 814 2020 06” 2020 06 2020 06 December 15, 2023, January 1, 2022 no In September 2022, 2022 04, December 15, 2021, December 15, 2022, December 15, 2023. January 1, 2023, no In June 2016, 2016 13: 326 July 2019, December 15, 2022, January 1, 2023, not In December 2019, 2019 12, December 15, 2021, December 15, 2022, January 1, 2023, not Recent Accounting Pronouncements The JOBS Act permits an emerging growth company to take advantage of an extended transition period to comply with new or revised accounting standards applicable to public companies. We have elected to use this extended transition period until we are no may not In August 2023, 2023 ED100, 740 may eight 5 December 15, 2024. |
Note 3 - Inventory
Note 3 - Inventory | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 3. INVENTORY Inventory consisted of the following as of December 31, 2022 September 30, 2023 December 31, 2022 September 30, 2023 Inventory on-hand $ 34,374 $ 27,124 Inventory in-transit 9,292 4,369 Inventory $ 43,666 $ 31,493 The Company’s inventory on-hand is held either with Amazon or the Company’s other third not December 31, 2022 September 30, 2023 |
Note 4 - Prepaid Expenses and O
Note 4 - Prepaid Expenses and Other Current Assets | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Prepaid Expenses And Other Current Assets [Text Block] | 4. PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid and other current assets consisted of the following as of December 31, 2022 September 30, 2023 December 31, 2022 September 30, 2023 Prepaid inventory $ 1,342 $ 573 Restricted cash 2,926 2,417 Prepaid insurance 1,991 1,516 Prepaid freight forwarder 576 217 Other 1,426 1,240 Prepaid expenses and current assets $ 8,261 $ 5,963 |
Note 5 - Accrued and Other Curr
Note 5 - Accrued and Other Current Liabilities | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | 5. ACCRUED AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consisted of the following as of December 31, 2022 September 30, 2023 December 31, 2022 September 30, 2023 Accrued compensation costs $ 53 $ 33 Accrued professional fees and consultants 461 317 Accrued logistics costs 609 1,426 Product related accruals 1,248 907 Sales tax payable 711 899 Sales return reserve 646 431 Accrued fulfillment expense 755 534 Accrued insurance 356 439 Federal payroll taxes payable 1,467 1,243 Accrued interest payable 190 99 Warrant liability 3,473 1,063 All other accruals 4,285 3,349 Accrued and current liabilities $ 14,254 $ 10,740 The Company sponsors, through its professional employer organization provider, a 401 401 not 401 |
Note 6 - Credit Facility, Term
Note 6 - Credit Facility, Term Loans and Warrants | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 6. CREDIT FACILITY, TERM LOANS AND WARRANTS MidCap Credit Facility On December 22, 2021, three $0.0001 On December 22, 2021, The obligations under the Credit Agreement are a senior secured obligation of the Company and rank senior to all indebtedness of the Company. Borrowings under the Credit Agreement bear interest at a rate of Term Secured Overnight Financing Rate ("Term SOFR"), which is defined as SOFR plus 0.10%, plus 5.50%. The Company will also be required to pay a commitment fee of 0.50% in respect of the undrawn portion of the commitments, which is generally based on average daily usage of the facility during the immediately preceding fiscal quarter. The Credit Agreement does not The Credit Agreement imposes certain customary affirmative and negative covenants upon the Company including restrictions related to dividends and other foreign subsidiaries limitations. The Credit Agreement minimum liquidity covenant requires that Midcap shall not February 1st May 31st September 30, 2023. December 2024. The Midcap Warrant has an exercise price of $4.70 per share, subject to adjustment for stock splits, reverse stock splits, stock dividends and similar transactions, is immediately exercisable, has a term of ten The Company’s credit facility consisted of the following as of December 31, 2022 September 30, 2023 December 31, 2022 September 30, 2023 MidCap Credit Facility $ 21,899 $ 14,707 Less: deferred debt issuance costs (459 ) (285 ) Less: discount associated with issuance of warrants (387 ) (240 ) Total MidCap Credit Facility $ 21,053 $ 14,182 Interest Expense, Net Interest expense, net consisted of the following for the three nine September 30, 2022 2023 Three Months Ended September 30, Nine Months Ended September 30, 2022 2023 2022 2023 Interest expense $ 904 $ 487 $ 2,043 $ 1,623 Interest income — (128 ) — (547 ) Total interest expense, net $ 904 $ 359 $ 2,043 $ 1,076 Securities Purchase Agreement and Warrants On March 1, 2022, “2022 2022 30 March 28, 2022, April 8, 2022. Upon the issuance of the Prefunded Warrants and stock purchase warrants, the Company evaluated the terms of each Warrant to determine the appropriate accounting and classification pursuant to ASC 480 815. September 30, 2023 On September 29, 2022, “September not one one The Registered Direct Offering closed on October 4, 2022 may Pursuant to the ASC 815 40, September three September 30, 2022. September 30, 2022. December 31, 2022 |
Note 7 - Stock-based Compensati
Note 7 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 7. STOCK-BASED COMPENSATION The Company has four 2014 The board of directors of Aterian Group, Inc., a subsidiary of the Company (“AGI”), adopted, and AGI’s stockholders approved, the Aterian Group, Inc. 2014 June 11, 2014. March 1, 2017, 2014 2014 September 30, 2023 2014 2018 The Company’s board of directors (the “Board”) adopted the Aterian, Inc. 2018 “2018 October 11, 2018. 2018 May 24, 2019. September 30, 2023 2018 Options granted to date under the Aterian 2014 2018 four first thirty-six three 1/3% first 2/3% twenty-four 2019 The Board adopted the Aterian, Inc. 2019 “2019 March 20, 2019. 2019 May 24, 2019. September 30, 2023 no 2019 2019 6th, 12th, 18th 24th 2019 2019 2019 March 14, 2022. 2019 not 718, one 2019 three 1 not 2 2019 not 2019 Inducement Equity Incentive Plan On May 27, 2022, 2022 The Inducement Plan provides for the grant of equity-based awards in the form of stock options, stock appreciation rights, restricted stock, restricted stock units, performance units and performance shares solely to prospective employees of the Company or an affiliate of the Company provided that certain criteria are met. Awards under the Inducement Plan may not ten September 30, 2023 The Inducement Plan has not not 5635 4 first The following is a summary of stock option activity during the nine September 30, 2023 Options Outstanding Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (years) Aggregate Intrinsic Value Balance—January 1, 2023 368,596 $ 9.26 5.89 $ — Options granted — $ — — $ — Options exercised — $ — — $ — Options canceled (172,292 ) $ 9.32 — $ — Balance—September 30, 2023 196,304 $ 9.21 5.25 $ — Exercisable as of September 30, 2023 196,304 $ 9.21 5.25 $ — Vested and expected to vest as of September 30, 2023 196,304 $ 9.21 5.25 $ — As of September 30, 2023 A summary of restricted stock award activity within the Company’s equity plans and changes for the nine September 30, 2023 Restricted Stock Awards Shares Weighted Average Grant- Date Fair Value Nonvested at January 1, 2023 4,223,023 $ 4.85 Granted 12,050,644 $ 0.52 Vested (2,666,468 ) $ 3.21 Forfeited (3,970,751 ) $ 2.23 Nonvested at September 30, 2023 9,636,448 $ 0.96 As of September 30, 2023 Stock-based compensation expense is allocated based on the cost center to which the award holder belongs. The following table summarizes the total stock-based compensation expense by function, including expense related to consultants, for the three nine September 30, 2022 2023 Three Months Ended September 30, Nine Months Ended September 30, 2022 2023 2022 2023 (in thousands) (in thousands) Sales and distribution expenses $ 999 $ 330 $ 4,228 $ 2,091 Research and development expenses 511 278 1,418 1,134 General and administrative expenses 1,433 624 6,208 3,546 Total stock-based compensation expense $ 2,943 $ 1,232 $ 11,854 $ 6,771 |
Note 8 - Net Loss Per Share
Note 8 - Net Loss Per Share | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 8. NET LOSS PER SHARE Basic net loss per share is determined by dividing net loss by the weighted-average shares of common stock outstanding during the period. Diluted net loss per share is determined by dividing net loss by diluted weighted-average shares outstanding. Diluted weighted-average shares reflect the dilutive effect, if any, of potentially dilutive shares of common stock, such as options to purchase common stock calculated using the treasury stock method and convertible notes using the “if-converted” method. In periods with reported net operating losses, all options to purchase common stock are deemed anti-dilutive such that basic net loss per share and diluted net loss per share are equal. The Company’s shares of restricted common stock are entitled to receive dividends and hold voting rights applicable to the Company’s common stock, irrespective of any vesting requirement. Accordingly, although the vesting commences upon the elimination of the contingency, the shares of restricted common stock are considered a participating security and the Company is required to apply the two not two two The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, 2022 2023 2022 2023 Net loss $ (116,902 ) $ (6,270 ) $ (175,987 ) $ (66,857 ) Weighted-average number of shares used in computing net loss per share, basic and diluted 64,648,650 79,022,467 63,397,196 77,801,774 Net loss per share, basic and diluted $ (1.81 ) $ (0.08 ) $ (2.78 ) $ (0.86 ) Anti-dilutive shares excluded from computation of net loss per share (in shares) 13,054,457 26,360,485 9,238,156 22,784,728 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 9. COMMITMENTS AND CONTINGENCIES Sales or Other Similar Taxes no not December 31, 2022 September 30, 2023 Legal Proceedings not no not no Mueller Action October 2021, April 2022, three March 31, 2022, August 3, 2023 February 28, 2024. not Earn-out Payment Dispute February 24, 2022, May 5, 2021, £6,902,816 not. September 14, 2022, May 18, 2023. Nasdaq Listing - April 24, 2023, 30 not $1.00 5550 2 180 October 23, 2023, 5810 3 October 13, 2023, October 24, 2023, 180 April 22, 2024, The Bid Price Notice has no The Company has a compliance period of 180 April 22, 2024, 5810 3 April 22, 2024, $1.00 10 5810 3 20 The Company will continue to monitor the closing bid price of its Common Stock and seek to regain compliance with all applicable Nasdaq requirements within the allotted compliance periods. If the Company does not no Leases not nine September 30, 2023 |
Note 10 - Contingent Earn-out L
Note 10 - Contingent Earn-out Liabilities | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 10. CONTINGENT EARN-OUT LIABILITIES The Company reviews and reassesses the estimated fair value of contingent consideration on a quarterly basis, and the updated fair value could differ materially from the initial estimates. Adjustments to the estimated fair value related to changes in all other unobservable inputs are reported in operating income (loss). On December 1, 2020, not As of December 31, 2022 September 30, 2023 As part of the acquisition of the Squatty Potty Assets, Squatty Potty is entitled to earn-out payments based on the achievement of certain contribution margin thresholds on certain products of the acquired business. If the earn-out consideration event occurs in the 12 months ended December 31, 2021, nine As of May 5, 2021, December 31, 2022 September 30, 2023 The following table summarizes the changes in the carrying value of estimated contingent earn-out liabilities as of December 31, 2022 December 31, 2022 Smash Assets Squatty Potty Total Balance— January 1, 2022 $ 5,240 $ 3,983 $ 9,223 Change in fair value of contingent earn-out liabilities (5,240 ) — (5,240 ) Payment of contingent earn-out liability — (3,983 ) (3,983 ) Balance— December 31, 2022 $ — $ — $ — There was no activity for contingent earn-out liabilities for the nine September 30, 2023 |
Note 11 - Goodwill and Intangib
Note 11 - Goodwill and Intangibles | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 11. GOODWILL AND INTANGIBLES The following tables summarize the changes in the Company’s goodwill as of December 31, 2022 January 1, 2022 Year-Ended December 31, 2022 December 31, 2022 Gross Carrying Amount Additions Impairments (1) Net Book Value Goodwill $ 119,941 $ 468 $ (120,409 ) $ — ( 1 The Company evaluated current economic conditions during 2022, March 31, 2022 September 30, 2022. three March 31, 2022 September 30, 2022, October 4, 2022, December 31, 2022, three December 31, 2022, December 31, 2022 For the year-ended December 31, 2022 December 31, 2022 September 30, 2023 The following tables summarize the changes in the Company’s intangible assets as of December 31, 2022 September 30, 2023 January 1, 2022 Year-Ended December 31, 2022 December 31, 2022 December 31, 2022 Gross Carrying Amount Additions Impairments (1) Accumulated Amortization Net Book Value Trademarks $ 65,910 $ 192 $ (3,087 ) $ (13,008 ) $ 50,007 Non-competition agreement 111 — (31 ) (80 ) — Transition services agreement 23 — — (23 ) — Customer relations 5,700 — — (950 ) 4,750 Other 700 — — (700 ) — Total intangibles $ 72,444 $ 192 $ (3,118 ) $ (14,761 ) $ 54,757 January 1, 2023 Nine Months Ended September 30, 2023 September 30, 2023 September 30, 2023 Gross Carrying Amount Additions Impairments (2) Accumulated Amortization Net Book Value Trademarks $ 62,202 $ — $ (39,445 ) $ (15,064 ) $ 7,693 Non-competition agreement 11 — — (11 ) — Transition services agreement 12 — — (12 ) — Customer relations 5,700 — — (1,377 ) 4,323 Other 700 — — (700 ) — Total intangibles $ 68,625 $ — $ (39,445 ) $ (17,164 ) $ 12,016 ( 1 September 30, 2022. three September 30, 2022. one may not December 31, 2022 ( 2 March 20, 2023, three March 31, 2023 may not 3 three March 31, 2023 During the three June 30, 2023, three June 30, 2023, three June 30, 2023 may not 3 three June 30, 2023 no three September 30, 2023. The following table sets forth the estimated aggregate amortization of the Company’s intangible assets for the next five Remainder of 2023 $ 413 2024 1,631 2025 1,590 2026 1,590 2027 1,590 2028 1,590 Thereafter 3,612 Total $ 12,016 |
Note 12 - Restructuring
Note 12 - Restructuring | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 12. RESTRUCTURING On May 9, 2023, three nine September 30, 2023 The accounting for the restructuring costs follows the provisions of ASC 420, The following table provides a summary of the restructuring costs incurred: Three Months Ended Nine Months Ended September 30, 2023 September 30, 2023 (in thousands) (in thousands) Employee severance $ 396 $ 916 Retention bonus settled — 411 Contract termination costs — 285 Other restructuring costs 21 21 Total restructuring costs $ 417 $ 1,633 The following table provides a summary of the Company's total restructuring reserve: Employee Severance Retention Bonus Contract Termination Costs Other Total Balance – December 31, 2022 $ — $ — $ — $ — $ — Charges 915 411 285 21 1,632 Usage-cash (915 ) (411 ) (92 ) — (1,418 ) Usage-non-cash — — — (21 ) (21 ) Balance – September 30, 2023 $ — $ — $ 193 $ — $ 193 As of September 30, 2023 $0.1 December 31, 2022. The Company will continue to assess the restructuring plan's progress and provide updates as required in future financial statements if there are material changes to the initial estimates or additional significant restructuring activities. |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 13. SUBSEQUENT EVENTS On April 24, 2023, 30 not $1.00 5550 2 180 October 23, 2023, 5810 3 October 13, 2023, October 24, 2023, 180 April 22, 2024, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation |
Unaudited Interim Financial Information Policy [Policy Text Block] | Unaudited Interim Financial Information September 30, 2023 September 30, 2022 2023 three nine September 30, 2022 2023 three nine September 30, 2023 not December 31, 2023 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash December 31, 2022 As of September 30, 2023 |
Inventories And Cost Of Goods Sold [Policy Text Block] | Inventory and Cost of Goods Sold first first may The “Cost of goods sold” line item in the Condensed Consolidated Statements of Operations consists of the book value of inventory sold to customers during the reporting period. When circumstances dictate that the Company use net realizable value as the basis for recording inventory, it bases its estimates on expected future selling prices less expected disposal costs. |
Receivable [Policy Text Block] | Accounts Receivable not not December 31, 2022 September 30, 2023 |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition 606, 606” For direct-to-consumer sales, the Company considers customer order confirmations to be a contract with the customer. Customer confirmations are executed at the time an order is placed through third For all of the Company’s sales and distribution channels, revenue is recognized when control of the product is transferred to the customer (i.e., when the Company’s performance obligation is satisfied), which typically occurs at shipment date. As a result, the Company has a present and unconditional right to payment and record the amount due from the customer in accounts receivable. Revenue from consumer product sales is recorded at the net sales price (transaction price), which includes an estimate of future returns based on historical return rates. There is judgment in utilizing historical trends for estimating future returns. The Company’s refund liability for sales returns was $0.6 million at December 31, 2022 September 30, 2023 The Company evaluated principal versus agent considerations to determine whether it is appropriate to record platform fees paid to Amazon as an expense or as a reduction of revenue. Platform fees are recorded as sales and distribution expenses and are not third Net Revenue by Category Three Months Ended September 30, 2022 (in thousands) Direct Wholesale/Other Total North America $ 62,818 $ 2,530 $ 65,348 Other 978 — 978 Total net revenue $ 63,796 $ 2,530 $ 66,326 Three Months Ended September 30, 2023 (in thousands) Direct Wholesale/Other Total North America $ 38,314 $ 142 $ 38,456 Other 1,212 — 1,212 Total net revenue $ 39,526 $ 142 $ 39,668 Nine Months Ended September 30, 2022 (in thousands) Direct Wholesale/Other Total North America $ 158,399 $ 4,415 $ 162,814 Other 3,454 — 3,454 Total net revenue $ 161,853 $ 4,415 $ 166,268 Nine Months Ended September 30, 2023 (in thousands) Direct Wholesale/Other Total North America $ 103,451 $ 2,454 $ 105,905 Other 3,906 — 3,906 Total net revenue $ 107,357 $ 2,454 $ 109,811 Net Revenue by Product Categories three nine September 30, 2022 2023 Three Months Ended September 30, 2022 2023 (in thousands) Heating, cooling and air quality $ 27,179 $ 15,770 Kitchen appliances 10,504 5,586 Health and beauty 3,661 3,034 Personal protective equipment 516 — Cookware, kitchen tools and gadgets 5,128 2,408 Home office 3,045 2,116 Housewares 8,787 6,418 Essential oils and related accessories 6,262 3,935 Other 1,244 401 Total net revenue $ 66,326 $ 39,668 Nine Months Ended September 30, 2022 2023 (in thousands) Heating, cooling and air quality $ 56,835 $ 29,512 Kitchen appliances 27,438 18,234 Health and beauty 12,452 11,725 Personal protective equipment 1,565 549 Cookware, kitchen tools and gadgets 14,229 8,315 Home office 10,077 7,410 Housewares 23,478 19,558 Essential oils and related accessories 17,102 12,787 Other 3,092 1,721 Total net revenue $ 166,268 $ 109,811 |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intangibles may not may not On March 20, 2023, three March 31, 2023 may not 3 three March 31, 2023 During the three June 30, 2023, three June 30, 2023, three June 30, 2023 may not 3 three June 30, 2023 no three September 30, 2023. For the nine September 30, 2022 2023, approximately$3.1 |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments September 30, 2023 December 31, 2022 September 30, 2023 2 The fair value of the Prefunded Warrants (as defined in the “Securities Purchase Agreement and Warrants” section of this Quarterly Report) and stock purchase warrants issued in connection with the Company’s common stock offering on March 1, 2022 480, Distinguishing Liabilities from Equity ( ASC 480 ) 815, Derivatives and Hedging ( ASC 815 ) The fair value of the contingent consideration related to business combinations is estimated using a probability-adjusted discounted cash flow model. These fair value measurements are based on significant inputs not Assets and liabilities recorded at fair value on a recurring basis in the Condensed Consolidated Balance Sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The authoritative guidance on fair value measurements establishes a three Level 1 Level 2 not Level 3 no The following table summarizes the fair value of the Company’s financial assets that are measured at fair value as of December 31, 2022 September 30, 2023 December 31, 2022 Fair Value Measurement Category Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 43,574 $ — $ — Restricted Cash 3,055 — — Liabilities: Fair value of warrant liability — — 3,473 September 30, 2023 Fair Value Measurement Category Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 27,955 $ — $ — Restricted cash 2,546 — — Liabilities: Fair value of warrant liability — — 1,063 A summary of the activity of the Level 3 December 31, 2022 nine September 30, 2023 December 31, 2022 Warrants liability as of January 1, 2022 $ — Change in fair value of warrants 3,473 Warrants liability as of December 31, 2022 $ 3,473 September 30, 2023 Warrants liability as of January 1, 2023 $ 3,473 Change in fair value of warrants (2,410 ) Warrants liability as of September 30, 2023 $ 1,063 |
New Accounting Pronouncements, Policy [Policy Text Block] | Adopted Accounting Standards In August 2020, No. 2020 06, 470 814 2020 06” 2020 06 2020 06 December 15, 2023, January 1, 2022 no In September 2022, 2022 04, December 15, 2021, December 15, 2022, December 15, 2023. January 1, 2023, no In June 2016, 2016 13: 326 July 2019, December 15, 2022, January 1, 2023, not In December 2019, 2019 12, December 15, 2021, December 15, 2022, January 1, 2023, not Recent Accounting Pronouncements The JOBS Act permits an emerging growth company to take advantage of an extended transition period to comply with new or revised accounting standards applicable to public companies. We have elected to use this extended transition period until we are no may not In August 2023, 2023 ED100, 740 may eight 5 December 15, 2024. |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended September 30, 2022 (in thousands) Direct Wholesale/Other Total North America $ 62,818 $ 2,530 $ 65,348 Other 978 — 978 Total net revenue $ 63,796 $ 2,530 $ 66,326 Three Months Ended September 30, 2023 (in thousands) Direct Wholesale/Other Total North America $ 38,314 $ 142 $ 38,456 Other 1,212 — 1,212 Total net revenue $ 39,526 $ 142 $ 39,668 Nine Months Ended September 30, 2022 (in thousands) Direct Wholesale/Other Total North America $ 158,399 $ 4,415 $ 162,814 Other 3,454 — 3,454 Total net revenue $ 161,853 $ 4,415 $ 166,268 Nine Months Ended September 30, 2023 (in thousands) Direct Wholesale/Other Total North America $ 103,451 $ 2,454 $ 105,905 Other 3,906 — 3,906 Total net revenue $ 107,357 $ 2,454 $ 109,811 Three Months Ended September 30, 2022 2023 (in thousands) Heating, cooling and air quality $ 27,179 $ 15,770 Kitchen appliances 10,504 5,586 Health and beauty 3,661 3,034 Personal protective equipment 516 — Cookware, kitchen tools and gadgets 5,128 2,408 Home office 3,045 2,116 Housewares 8,787 6,418 Essential oils and related accessories 6,262 3,935 Other 1,244 401 Total net revenue $ 66,326 $ 39,668 Nine Months Ended September 30, 2022 2023 (in thousands) Heating, cooling and air quality $ 56,835 $ 29,512 Kitchen appliances 27,438 18,234 Health and beauty 12,452 11,725 Personal protective equipment 1,565 549 Cookware, kitchen tools and gadgets 14,229 8,315 Home office 10,077 7,410 Housewares 23,478 19,558 Essential oils and related accessories 17,102 12,787 Other 3,092 1,721 Total net revenue $ 166,268 $ 109,811 |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | December 31, 2022 Fair Value Measurement Category Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 43,574 $ — $ — Restricted Cash 3,055 — — Liabilities: Fair value of warrant liability — — 3,473 September 30, 2023 Fair Value Measurement Category Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 27,955 $ — $ — Restricted cash 2,546 — — Liabilities: Fair value of warrant liability — — 1,063 |
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | December 31, 2022 Warrants liability as of January 1, 2022 $ — Change in fair value of warrants 3,473 Warrants liability as of December 31, 2022 $ 3,473 September 30, 2023 Warrants liability as of January 1, 2023 $ 3,473 Change in fair value of warrants (2,410 ) Warrants liability as of September 30, 2023 $ 1,063 |
Note 3 - Inventory (Tables)
Note 3 - Inventory (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2022 September 30, 2023 Inventory on-hand $ 34,374 $ 27,124 Inventory in-transit 9,292 4,369 Inventory $ 43,666 $ 31,493 |
Note 4 - Prepaid Expenses and_2
Note 4 - Prepaid Expenses and Other Current Assets (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule Of Prepaid Expenses And Other Current Assets [Table Text Block] | December 31, 2022 September 30, 2023 Prepaid inventory $ 1,342 $ 573 Restricted cash 2,926 2,417 Prepaid insurance 1,991 1,516 Prepaid freight forwarder 576 217 Other 1,426 1,240 Prepaid expenses and current assets $ 8,261 $ 5,963 |
Note 5 - Accrued and Other Cu_2
Note 5 - Accrued and Other Current Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | December 31, 2022 September 30, 2023 Accrued compensation costs $ 53 $ 33 Accrued professional fees and consultants 461 317 Accrued logistics costs 609 1,426 Product related accruals 1,248 907 Sales tax payable 711 899 Sales return reserve 646 431 Accrued fulfillment expense 755 534 Accrued insurance 356 439 Federal payroll taxes payable 1,467 1,243 Accrued interest payable 190 99 Warrant liability 3,473 1,063 All other accruals 4,285 3,349 Accrued and current liabilities $ 14,254 $ 10,740 |
Note 6 - Credit Facility, Ter_2
Note 6 - Credit Facility, Term Loans and Warrants (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | December 31, 2022 September 30, 2023 MidCap Credit Facility $ 21,899 $ 14,707 Less: deferred debt issuance costs (459 ) (285 ) Less: discount associated with issuance of warrants (387 ) (240 ) Total MidCap Credit Facility $ 21,053 $ 14,182 |
Interest Income and Interest Expense Disclosure [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2022 2023 2022 2023 Interest expense $ 904 $ 487 $ 2,043 $ 1,623 Interest income — (128 ) — (547 ) Total interest expense, net $ 904 $ 359 $ 2,043 $ 1,076 |
Note 7 - Stock-based Compensa_2
Note 7 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Options Outstanding Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (years) Aggregate Intrinsic Value Balance—January 1, 2023 368,596 $ 9.26 5.89 $ — Options granted — $ — — $ — Options exercised — $ — — $ — Options canceled (172,292 ) $ 9.32 — $ — Balance—September 30, 2023 196,304 $ 9.21 5.25 $ — Exercisable as of September 30, 2023 196,304 $ 9.21 5.25 $ — Vested and expected to vest as of September 30, 2023 196,304 $ 9.21 5.25 $ — |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Restricted Stock Awards Shares Weighted Average Grant- Date Fair Value Nonvested at January 1, 2023 4,223,023 $ 4.85 Granted 12,050,644 $ 0.52 Vested (2,666,468 ) $ 3.21 Forfeited (3,970,751 ) $ 2.23 Nonvested at September 30, 2023 9,636,448 $ 0.96 |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2022 2023 2022 2023 (in thousands) (in thousands) Sales and distribution expenses $ 999 $ 330 $ 4,228 $ 2,091 Research and development expenses 511 278 1,418 1,134 General and administrative expenses 1,433 624 6,208 3,546 Total stock-based compensation expense $ 2,943 $ 1,232 $ 11,854 $ 6,771 |
Note 8 - Net Loss Per Share (Ta
Note 8 - Net Loss Per Share (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2022 2023 2022 2023 Net loss $ (116,902 ) $ (6,270 ) $ (175,987 ) $ (66,857 ) Weighted-average number of shares used in computing net loss per share, basic and diluted 64,648,650 79,022,467 63,397,196 77,801,774 Net loss per share, basic and diluted $ (1.81 ) $ (0.08 ) $ (2.78 ) $ (0.86 ) Anti-dilutive shares excluded from computation of net loss per share (in shares) 13,054,457 26,360,485 9,238,156 22,784,728 |
Note 10 - Contingent Earn-out_2
Note 10 - Contingent Earn-out Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block] | December 31, 2022 Smash Assets Squatty Potty Total Balance— January 1, 2022 $ 5,240 $ 3,983 $ 9,223 Change in fair value of contingent earn-out liabilities (5,240 ) — (5,240 ) Payment of contingent earn-out liability — (3,983 ) (3,983 ) Balance— December 31, 2022 $ — $ — $ — |
Note 11 - Goodwill and Intang_2
Note 11 - Goodwill and Intangibles (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | January 1, 2022 Year-Ended December 31, 2022 December 31, 2022 Gross Carrying Amount Additions Impairments (1) Net Book Value Goodwill $ 119,941 $ 468 $ (120,409 ) $ — |
Schedule of Intangible Assets and Goodwill [Table Text Block] | January 1, 2022 Year-Ended December 31, 2022 December 31, 2022 December 31, 2022 Gross Carrying Amount Additions Impairments (1) Accumulated Amortization Net Book Value Trademarks $ 65,910 $ 192 $ (3,087 ) $ (13,008 ) $ 50,007 Non-competition agreement 111 — (31 ) (80 ) — Transition services agreement 23 — — (23 ) — Customer relations 5,700 — — (950 ) 4,750 Other 700 — — (700 ) — Total intangibles $ 72,444 $ 192 $ (3,118 ) $ (14,761 ) $ 54,757 January 1, 2023 Nine Months Ended September 30, 2023 September 30, 2023 September 30, 2023 Gross Carrying Amount Additions Impairments (2) Accumulated Amortization Net Book Value Trademarks $ 62,202 $ — $ (39,445 ) $ (15,064 ) $ 7,693 Non-competition agreement 11 — — (11 ) — Transition services agreement 12 — — (12 ) — Customer relations 5,700 — — (1,377 ) 4,323 Other 700 — — (700 ) — Total intangibles $ 68,625 $ — $ (39,445 ) $ (17,164 ) $ 12,016 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Remainder of 2023 $ 413 2024 1,631 2025 1,590 2026 1,590 2027 1,590 2028 1,590 Thereafter 3,612 Total $ 12,016 |
Note 12 - Restructuring (Tables
Note 12 - Restructuring (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Restructuring and Related Costs [Table Text Block] | Three Months Ended Nine Months Ended September 30, 2023 September 30, 2023 (in thousands) (in thousands) Employee severance $ 396 $ 916 Retention bonus settled — 411 Contract termination costs — 285 Other restructuring costs 21 21 Total restructuring costs $ 417 $ 1,633 |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | Employee Severance Retention Bonus Contract Termination Costs Other Total Balance – December 31, 2022 $ — $ — $ — $ — $ — Charges 915 411 285 21 1,632 Usage-cash (915 ) (411 ) (92 ) — (1,418 ) Usage-non-cash — — — (21 ) (21 ) Balance – September 30, 2023 $ — $ — $ 193 $ — $ 193 |
Note 1 - Organization and Des_2
Note 1 - Organization and Description of Business (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
May 09, 2023 | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Net Income (Loss) Attributable to Parent | $ (6,270) | $ (116,902) | $ (66,857) | $ (175,987) | ||
Net Cash Provided by (Used in) Operating Activities | (8,458) | (19,541) | ||||
Cash and Cash Equivalents, at Carrying Value | 27,955 | 25,997 | 27,955 | 25,997 | ||
Retained Earnings (Accumulated Deficit) | (692,108) | (692,108) | $ (625,251) | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 39,668 | $ 66,326 | 109,811 | $ 166,268 | ||
Restructuring Plan, Effected Employees | 50 | |||||
Restructuring Plan, Effected Contractors | 15 | |||||
Restructuring Charges | $ 400 | $ 1,632 | $ 0 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Accounts Receivable, Allowance for Credit Loss | $ 400 | $ 400 | $ 300 | ||||
Impairment of Intangible Assets, Finite-Lived | 0 | $ 16,700 | $ 3,118 | 39,445 | $ 3,118 | 3,118 | |
Paper Business and Kitchen Appliance Business [Member] | |||||||
Impairment of Intangible Assets, Finite-Lived | $ 22,800 | ||||||
Other Noncurrent Assets [Member] | |||||||
Security Deposit | 100 | 100 | 100 | ||||
Prepaid Expenses and Other Current Assets [Member] | Midcap Credit Facility [Member] | |||||||
Security Deposit | 400 | 400 | 900 | ||||
Prepaid Expenses and Other Current Assets [Member] | Letter of Credit [Member] | |||||||
Security Deposit | 2,000 | 2,000 | 2,000 | ||||
Accrued Liability [Member] | |||||||
Contract with Customer, Refund Liability | $ 400 | $ 400 | $ 600 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Total net revenue | $ 39,668 | $ 66,326 | $ 109,811 | $ 166,268 |
Heating, Cooling, and Air Quality [Member] | ||||
Total net revenue | 15,770 | 27,179 | 29,512 | 56,835 |
Kitchen Appliances [Member] | ||||
Total net revenue | 5,586 | 10,504 | 18,234 | 27,438 |
Health and Beauty [Member] | ||||
Total net revenue | 3,034 | 3,661 | 11,725 | 12,452 |
Personal Protective Equipment [Member] | ||||
Total net revenue | 0 | 516 | 549 | 1,565 |
Cookware, Kitchen Tools, and Gadgets [Member] | ||||
Total net revenue | 2,408 | 5,128 | 8,315 | 14,229 |
Home Office [Member] | ||||
Total net revenue | 2,116 | 3,045 | 7,410 | 10,077 |
Housewares [Member] | ||||
Total net revenue | 6,418 | 8,787 | 19,558 | 23,478 |
Essential Oils and Related Accessories [Member] | ||||
Total net revenue | 3,935 | 6,262 | 12,787 | 17,102 |
Product and Service, Other [Member] | ||||
Total net revenue | 401 | 1,244 | 1,721 | 3,092 |
Sales Channel, Directly to Consumer [Member] | ||||
Total net revenue | 39,526 | 63,796 | 107,357 | 161,853 |
Sales Channel, Through Intermediary [Member] | ||||
Total net revenue | 142 | 2,530 | 2,454 | 4,415 |
North America [Member] | ||||
Total net revenue | 38,456 | 65,348 | 105,905 | 162,814 |
North America [Member] | Sales Channel, Directly to Consumer [Member] | ||||
Total net revenue | 38,314 | 62,818 | 103,451 | 158,399 |
North America [Member] | Sales Channel, Through Intermediary [Member] | ||||
Total net revenue | 142 | 2,530 | 2,454 | 4,415 |
Other Than North America [Member] | ||||
Total net revenue | 1,212 | 978 | 3,906 | 3,454 |
Other Than North America [Member] | Sales Channel, Directly to Consumer [Member] | ||||
Total net revenue | 1,212 | 978 | 3,906 | 3,454 |
Other Than North America [Member] | Sales Channel, Through Intermediary [Member] | ||||
Total net revenue | $ 0 | $ 0 | $ 0 | $ 0 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Financial Assets Measured at Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Fair Value, Inputs, Level 1 [Member] | Warrant Liability [Member] | ||
Fair value of warrant liability | $ 0 | $ 0 |
Fair Value, Inputs, Level 2 [Member] | Warrant Liability [Member] | ||
Fair value of warrant liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Warrant Liability [Member] | ||
Fair value of warrant liability | 1,063 | 3,473 |
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents, fair value | 27,955 | 43,574 |
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents, fair value | 0 | 0 |
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents, fair value | 0 | 0 |
Restricted Cash [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents, fair value | 2,546 | 3,055 |
Restricted Cash [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents, fair value | 0 | 0 |
Restricted Cash [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents, fair value | $ 0 | $ 0 |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies - Fair Value Liabilities Measured on Recurring Basis (Details) - Warrant Liability [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Warrants liability | $ 3,473 | $ 0 |
Change in fair value of warrants | (2,410) | 3,473 |
Warrants liability | $ 1,063 | $ 3,473 |
Note 3 - Inventory (Details Tex
Note 3 - Inventory (Details Textual) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Other Inventory, Warehouse, Gross | $ 6.8 | $ 8.6 |
Note 3 - Inventory - Schedule o
Note 3 - Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Inventory on-hand | $ 27,124 | $ 34,374 |
Inventory in-transit | 4,369 | 9,292 |
Inventory | $ 31,493 | $ 43,666 |
Note 4 - Prepaid Expenses and_3
Note 4 - Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Prepaid inventory | $ 573 | $ 1,342 |
Restricted cash | 2,417 | 2,926 |
Prepaid insurance | 1,516 | 1,991 |
Prepaid freight forwarder | 217 | 576 |
Other | 1,240 | 1,426 |
Prepaid expenses and current assets | $ 5,963 | $ 8,261 |
Note 5 - Accrued and Other Cu_3
Note 5 - Accrued and Other Current Liabilities - Schedule of Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Accrued compensation costs | $ 33 | $ 53 |
Accrued professional fees and consultants | 317 | 461 |
Accrued logistics costs | 1,426 | 609 |
Product related accruals | 907 | 1,248 |
Sales tax payable | 899 | 711 |
Sales return reserve | 431 | 646 |
Accrued fulfillment expense | 534 | 755 |
Accrued insurance | 439 | 356 |
Federal payroll taxes payable | 1,243 | 1,467 |
Accrued interest payable | 99 | 190 |
Warrant liability | 1,063 | 3,473 |
All other accruals | 3,349 | 4,285 |
Accrued and current liabilities | $ 10,740 | $ 14,254 |
Note 6 - Credit Facility, Ter_3
Note 6 - Credit Facility, Term Loans and Warrants (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Oct. 04, 2022 | Sep. 29, 2022 | Mar. 01, 2022 | Dec. 22, 2021 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Proceeds from Lines of Credit | $ 63,978 | $ 107,678 | |||||
Warrant Liability | $ 19,000 | $ 1,100 | |||||
Securities Purchase Agreement [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 4,827,242 | ||||||
Sale of Stock, Number of Shares Issued in Transaction (in shares) | 6,436,322 | ||||||
Class of Warrant or Right, Sale Price (in dollars per share) | $ 2.9099 | ||||||
Proceeds from Issuance of Warrants | $ 27,500 | ||||||
September Purchase Agreements [Member] | Registered Direct Offering [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 10,643,034 | ||||||
Sale of Stock, Number of Shares Issued in Transaction (in shares) | 10,643,034 | 10,643,034 | |||||
Proceeds from Issuance or Sale of Equity | $ 20,200 | ||||||
Payments of Stock Issuance Costs | $ 12,800 | ||||||
September Purchase Agreements [Member] | Registered Direct Offering [Member] | Accredited Purchasers [Member] | |||||||
Sale of Stock, Number of Shares Issued in Transaction (in shares) | 10,526,368 | ||||||
September Purchase Agreements [Member] | Registered Direct Offering [Member] | Insiders [Member] | |||||||
Sale of Stock, Number of Shares Issued in Transaction (in shares) | 116,666 | ||||||
Terminated Notes [Member] | |||||||
Debt Instrument, Face Amount | $ 110,000 | ||||||
Midcap Warrant [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 200,000 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 4.7 | ||||||
Warrants and Rights Outstanding, Term (Year) | 10 years | ||||||
Prefunded Warrants [Member] | Securities Purchase Agreement [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 3,013,850 | ||||||
Common Stock Warrants [Member] | Securities Purchase Agreement [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,260,388 | ||||||
Class of Warrant or Right, Sale Price (in dollars per share) | $ 2.91 | ||||||
Common Stock Warrants [Member] | September Purchase Agreements [Member] | Registered Direct Offering [Member] | Accredited Purchasers [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 10,526,368 | ||||||
Class of Warrant or Right, Sale Price (in dollars per share) | $ 1.9 | ||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||||||
Common Stock Warrants [Member] | September Purchase Agreements [Member] | Registered Direct Offering [Member] | Insiders [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 116,666 | ||||||
Class of Warrant or Right, Sale Price (in dollars per share) | $ 2.1 | ||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||||||
Line of Credit [Member] | Midcap Credit Facility [Member] | |||||||
Debt Instrument, Term (Year) | 3 years | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 40,000 | ||||||
Proceeds from Lines of Credit | $ 27,600 | ||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.50% | ||||||
Line Of Credit Facility, Maximum Liquidity Requirements During Period | $ 12,500 | ||||||
Line Of Credit Facility, Maximum Liquidity Requirements At All Other Times | $ 15,000 | ||||||
Line of Credit [Member] | Midcap Credit Facility [Member] | Term Secured Overnight Financing Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 0.10% | ||||||
Line of Credit [Member] | Midcap Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 5.50% |
Note 6 - Credit Facility, Ter_4
Note 6 - Credit Facility, Term Loans and Warrants - Schedule of Debt (Details) - Midcap Credit Facility [Member] - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
MidCap Credit Facility | $ 14,707 | $ 21,899 |
Less: deferred debt issuance costs | (285) | (459) |
Less: discount associated with issuance of warrants | (240) | (387) |
Total MidCap Credit Facility | $ 14,182 | $ 21,053 |
Note 6 - Credit Facility, Ter_5
Note 6 - Credit Facility, Term Loans and Warrants - Schedule of Interest Expense, Net (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Interest expense | $ 487 | $ 904 | $ 1,623 | $ 2,043 |
Interest income | (128) | 0 | (547) | 0 |
Total interest expense, net | $ 359 | $ 904 | $ 1,076 | $ 2,043 |
Note 7 - Stock-based Compensa_3
Note 7 - Stock-based Compensation (Details Textual) $ in Millions | 9 Months Ended |
Sep. 30, 2023 USD ($) shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years |
Restricted Stock [Member] | |
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ | $ 8.7 |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 4 months 24 days |
Share-Based Payment Arrangement, Tranche One [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years |
Share-Based Payment Arrangement, Tranche One [Member] | Vesting on First Anniversary [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 25% |
Share-Based Payment Arrangement, Tranche One [Member] | Vesting On Pro Rata Basis Over Remaining Period [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 75% |
Share-Based Payment Arrangement, Tranche Two [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years |
Share-Based Payment Arrangement, Tranche Two [Member] | Vesting on First Anniversary [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 33 years |
Share-Based Payment Arrangement, Tranche Two [Member] | Vesting On Pro Rata Basis Over Remaining Period [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 66 years |
Aterian 2014 Equity Incentive Plan [Member] | |
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 99,310 |
Aterian 2018 Equity Incentive Plan [Member] | |
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 2,300,443 |
Aterion 2019 Equity Plan [Member] | |
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 0 |
Aterion 2019 Equity Plan [Member] | Restricted Stock [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Percentage of Outstanding Stock Maximum | 70% |
Inducement Equity Incentive Plan [Member] | |
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 2,180,000 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 2,700,000 |
Note 7 - Stock-based Compensa_4
Note 7 - Stock-based Compensation - Schedule of Option Activity (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Balance, options (in shares) | 368,596 | |
Balance, options, weighted average exercise price (in dollars per share) | $ 9.26 | |
Balance, options, remaining contractual term (Year) | 5 years 3 months | 5 years 10 months 20 days |
Options granted (in shares) | 0 | |
Options granted, weighted average exercise price (in dollars per share) | $ 0 | |
Options exercised (in shares) | 0 | |
Options exercised, weighted average exercise price (in dollars per share) | $ 0 | |
Options canceled (in shares) | (172,292) | |
Options canceled, weighted average exercise price (in dollars per share) | $ 9.32 | |
Balance, options (in shares) | 196,304 | 368,596 |
Balance, options, weighted average exercise price (in dollars per share) | $ 9.21 | $ 9.26 |
Exercisable as of September 30, 2023 (in shares) | 196,304 | |
Exercisable, options, weighted average exercise price (in dollars per share) | $ 9.21 | |
Exercisable, options, remaining contractual term (Year) | 5 years 3 months | |
Vested and expected to vest as of September 30, 2023 (in shares) | 196,304 | |
Vested and expected to vest, options, , weighted average exercise price (in dollars per share) | $ 9.21 | |
Vested and expected to vest, options, remaining contractual term (Year) | 5 years 3 months |
Note 7 - Stock-based Compensa_5
Note 7 - Stock-based Compensation - Restricted Stock Activity (Details) - Restricted Stock [Member] | 9 Months Ended |
Sep. 30, 2023 $ / shares shares | |
Nonvested (in shares) | shares | 4,223,023 |
Nonvested, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 4.85 |
Granted (in shares) | shares | 12,050,644 |
Granted, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 0.52 |
Vested (in shares) | shares | (2,666,468) |
Vested, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 3.21 |
Forfeited (in shares) | shares | (3,970,751) |
Forfeited, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 2.23 |
Nonvested (in shares) | shares | 9,636,448 |
Nonvested, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 0.96 |
Note 7 - Stock-based Compensa_6
Note 7 - Stock-based Compensation - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Total stock-based compensation expense | $ 1,232 | $ 2,943 | $ 6,771 | $ 11,854 |
Selling and Marketing Expense [Member] | ||||
Total stock-based compensation expense | 330 | 999 | 2,091 | 4,228 |
Research and Development Expense [Member] | ||||
Total stock-based compensation expense | 278 | 511 | 1,134 | 1,418 |
General and Administrative Expense [Member] | ||||
Total stock-based compensation expense | $ 624 | $ 1,433 | $ 3,546 | $ 6,208 |
Note 8 - Net Loss Per Share - S
Note 8 - Net Loss Per Share - Schedule of Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net loss | $ (6,270) | $ (116,902) | $ (66,857) | $ (175,987) |
Weighted-average number of shares outstanding, basic and diluted (in shares) | 79,022,467 | 64,648,650 | 77,801,774 | 63,397,196 |
Net loss per share, basic and diluted (in dollars per share) | $ (0.08) | $ (1.81) | $ (0.86) | $ (2.78) |
Anti-dilutive shares excluded from computation of net loss per share (in shares) (in shares) | 26,360,485 | 13,054,457 | 22,784,728 | 9,238,156 |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Details Textual) $ in Thousands | 1 Months Ended | ||||
Feb. 24, 2022 USD ($) | Feb. 24, 2022 GBP (£) | Oct. 30, 2021 USD ($) | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Sales and Excise Tax Payable, Current | $ 899 | $ 711 | |||
Mueller Action [Member] | |||||
Litigation Settlement In Cash | $ 500 | ||||
Litigation Settlement, Coupons Awarded | 300 | ||||
Litigation Settlement, Amount Awarded to Other Party | $ 800 | ||||
Earn-out Payment Dispute [Member] | |||||
Earn Out Payment Amount | $ 8,800 | £ 6,902,816 |
Note 10 - Contingent Earn-out_3
Note 10 - Contingent Earn-out Liabilities (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Dec. 01, 2020 | Sep. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | May 05, 2021 |
Business Combination, Contingent Consideration, Liability | $ 0 | $ 0 | $ 9,223 | ||
Smash Assets [Member] | |||||
Business Combination, Consideration Transferred | $ 25,000 | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 4,220,000 | ||||
Business Acquisition, Share Price (in dollars per share) | $ 6.89 | ||||
Business Combination, Consideration Transferred Value Of Certain Inventory | $ 15,600 | ||||
Business Combination, Contingent Consideration, Liability | $ 0 | 0 | 5,240 | ||
Smash Assets [Member] | Sellers Brokers [Member] | |||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 164,000 | ||||
Squatty Potty LLC [Member] | |||||
Business Combination, Contingent Consideration, Liability | $ 0 | 3,983 | $ 3,500 | ||
Squatty Potty LLC [Member] | Event Occurs Six Months Following Closing Date [Member] | |||||
Business Combination, Contingent Consideration, Liability | 3,900 | ||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 3,900 |
Note 10 - Contingent Earn-out_4
Note 10 - Contingent Earn-out Liabilities - Schedule of Contingent Earn-out Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Balance | $ 0 | $ 9,223 | $ 9,223 | ||
Change in fair value of contingent earn-out liabilities | $ 0 | $ 774 | 0 | 5,240 | (5,240) |
Payment of Squatty Potty earn-out | 0 | (3,983) | (3,983) | ||
Balance | 0 | 0 | 0 | ||
Smash Assets [Member] | |||||
Balance | 0 | 5,240 | 5,240 | ||
Change in fair value of contingent earn-out liabilities | (5,240) | ||||
Payment of Squatty Potty earn-out | 0 | ||||
Balance | $ 0 | 0 | 0 | ||
Squatty Potty LLC [Member] | |||||
Balance | $ 0 | $ 3,983 | 3,983 | ||
Change in fair value of contingent earn-out liabilities | 0 | ||||
Payment of Squatty Potty earn-out | (3,983) | ||||
Balance | $ 0 |
Note 11 - Goodwill and Intang_3
Note 11 - Goodwill and Intangibles (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Oct. 04, 2022 | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | ||
Goodwill, Impairment Loss | $ 0 | $ 500 | $ 90,921 | $ 29,000 | $ 0 | $ 119,941 | $ 120,409 | [1] | |||
Goodwill | $ 0 | 0 | |||||||||
Impairment of Intangible Assets, Finite-Lived | $ 0 | $ 16,700 | $ 3,118 | $ 39,445 | $ 3,118 | $ 3,118 | |||||
Paper Business and Kitchen Appliance Business [Member] | |||||||||||
Impairment of Intangible Assets, Finite-Lived | $ 22,800 | ||||||||||
Step and Go [Member] | |||||||||||
Business Combination, Consideration Transferred | $ 700 | ||||||||||
Goodwill | $ 500 | ||||||||||
[1]The Company evaluated current economic conditions during 2022, including the impact of the Federal Reserve further increasing the risk-free interest rate, as well as the inflationary pressure on product and labor costs and operational impacts attributable to continued global supply chain disruptions. The Company believed that these conditions were factors in our market capitalization falling below the book value of net assets during the fiscal quarters ending March 31, 2022 and September 30, 2022. Accordingly, the Company concluded a triggering event had occurred in each of these periods and performed interim goodwill impairment analyses. As a result, the Company recorded a goodwill impairment charge of approximately $29.0 million and $90.9 during the three months ended March 31, 2022 and September 30, 2022, respectively. On October 4, 2022, the Company acquired Step and Go, a brand in the health and Wellness category, for $0.7 million. As part of the purchase price allocation of the acquisition, $0.5 million was attributed to goodwill. As our market capitalization was further reduced below net assets as of December 31, 2022, we concluded a triggering event has occurred to test goodwill, an impairment loss on goodwill of $0.5 million was recorded for the three months ended December 31, 2022, which is included in impairment loss on goodwill in the Consolidated Statement of Operations for the year-ended December 31, 2022. |
Note 11 - Goodwill and Intang_4
Note 11 - Goodwill and Intangibles - Schedule of Goodwill (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | Jan. 01, 2022 | ||
Goodwill, gross | $ 119,941 | ||||||||
Goodwill, additions | $ 468 | ||||||||
Goodwill | $ 0 | $ (500) | $ (90,921) | $ (29,000) | $ 0 | $ (119,941) | (120,409) | [1] | |
Goodwill | $ 0 | $ 0 | |||||||
[1]The Company evaluated current economic conditions during 2022, including the impact of the Federal Reserve further increasing the risk-free interest rate, as well as the inflationary pressure on product and labor costs and operational impacts attributable to continued global supply chain disruptions. The Company believed that these conditions were factors in our market capitalization falling below the book value of net assets during the fiscal quarters ending March 31, 2022 and September 30, 2022. Accordingly, the Company concluded a triggering event had occurred in each of these periods and performed interim goodwill impairment analyses. As a result, the Company recorded a goodwill impairment charge of approximately $29.0 million and $90.9 during the three months ended March 31, 2022 and September 30, 2022, respectively. On October 4, 2022, the Company acquired Step and Go, a brand in the health and Wellness category, for $0.7 million. As part of the purchase price allocation of the acquisition, $0.5 million was attributed to goodwill. As our market capitalization was further reduced below net assets as of December 31, 2022, we concluded a triggering event has occurred to test goodwill, an impairment loss on goodwill of $0.5 million was recorded for the three months ended December 31, 2022, which is included in impairment loss on goodwill in the Consolidated Statement of Operations for the year-ended December 31, 2022. |
Note 11 - Goodwill and Intang_5
Note 11 - Goodwill and Intangibles - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | Jan. 01, 2023 | Jan. 01, 2022 | ||||
Intangible assets, gross | $ 68,625 | $ 72,444 | |||||||||
Intangible assets, additions | $ 0 | $ 192 | |||||||||
Intangibles assets, impairments | $ 0 | $ (16,700) | $ (3,118) | (39,445) | $ (3,118) | (3,118) | |||||
Intangible assets, accumulated amortization | (17,164) | [1] | (17,164) | [1] | (14,761) | [2] | |||||
Intangible assets, net | 12,016 | 12,016 | 54,757 | ||||||||
Trademarks [Member] | |||||||||||
Intangible assets, gross | 62,202 | 65,910 | |||||||||
Intangible assets, additions | 0 | 192 | |||||||||
Intangibles assets, impairments | (39,445) | (3,087) | |||||||||
Intangible assets, accumulated amortization | (15,064) | [1] | (15,064) | [1] | (13,008) | [2] | |||||
Intangible assets, net | 7,693 | 7,693 | 50,007 | ||||||||
Noncompete Agreements [Member] | |||||||||||
Intangible assets, gross | 11 | 111 | |||||||||
Intangible assets, additions | 0 | 0 | |||||||||
Intangibles assets, impairments | 0 | (31) | |||||||||
Intangible assets, accumulated amortization | (11) | [1] | (11) | [1] | (80) | [2] | |||||
Intangible assets, net | 0 | 0 | 0 | ||||||||
Transition Services Agreement [Member] | |||||||||||
Intangible assets, gross | 12 | 23 | |||||||||
Intangible assets, additions | 0 | 0 | |||||||||
Intangibles assets, impairments | 0 | 0 | |||||||||
Intangible assets, accumulated amortization | (12) | [1] | (12) | [1] | (23) | [2] | |||||
Intangible assets, net | 0 | 0 | 0 | ||||||||
Customer Relationships [Member] | |||||||||||
Intangible assets, gross | 5,700 | 5,700 | |||||||||
Intangible assets, additions | 0 | 0 | |||||||||
Intangibles assets, impairments | 0 | 0 | |||||||||
Intangible assets, accumulated amortization | (1,377) | [1] | (1,377) | [1] | (950) | [2] | |||||
Intangible assets, net | 4,323 | 4,323 | 4,750 | ||||||||
Other Intangible Assets [Member] | |||||||||||
Intangible assets, gross | $ 700 | $ 700 | |||||||||
Intangible assets, additions | 0 | 0 | |||||||||
Intangibles assets, impairments | 0 | 0 | |||||||||
Intangible assets, accumulated amortization | (700) | [1] | (700) | [1] | (700) | [2] | |||||
Intangible assets, net | $ 0 | $ 0 | $ 0 | ||||||||
[1]On March 20, 2023, the Company made certain leadership changes in our essential oil business resulting in a change in strategy and outlook for the business which will result in a reduced portfolio offering. This reduction in the portfolio will be impactful to our essential oil business's future revenues and profitability and as a result the Company made revisions to our internal forecasts. The Company concluded that this change was an interim triggering event for the three months ending March 31, 2023 indicating the carrying value of our essential oil business's long-lived assets including trademarks may not be recoverable. Accordingly, the Company performed an interim impairment test of the trademark and assessed the recoverability of the related intangible assets by using level 3 inputs and comparing the carrying value of an asset group to the net undiscounted cash flow expected to be generated. The recoverability test indicated that certain definite-live trademark intangible assets were impaired. The Company concluded the carrying value of the trademark exceeded its estimated fair value which was determined utilizing the relief-from-royalty method to determine discounted projected future cash flows which resulted in an impairment charge. The Company recorded an intangible impairment charge of $16.7 million in the three months ending March 31, 2023 within impairment loss on intangibles on the condensed consolidated statement of operations.[2]Certain asset groups experienced a significant decrease in sales and contribution margin through September 30, 2022. This was considered an interim triggering event for the three months ended September 30, 2022. Based on the analysis of comparing the undiscounted cash flow to the carrying value of the asset group, one group tested indicated that the assets may not be recoverable. For this asset group, the Company compared the fair value to the carrying amount of the asset group and recorded an intangible impairment charge of $3.1 million for the year-ended December 31, 2022. |
Note 11 - Goodwill and Intang_6
Note 11 - Goodwill and Intangibles - Schedule of Future Amortization Expense (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Remainder of 2023 | $ 413 | |
2024 | 1,631 | |
2025 | 1,590 | |
2026 | 1,590 | |
2027 | 1,590 | |
2028 | 1,590 | |
Thereafter | 3,612 | |
Total | $ 12,016 | $ 54,757 |
Note 12 - Restructuring (Detail
Note 12 - Restructuring (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
May 09, 2023 | Sep. 30, 2023 USD ($) | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Restructuring Plan, Effected Employees | 50 | |||
Restructuring Plan, Effected Contractors | 15 | |||
Restructuring Charges | $ 400 | $ 1,632 | $ 0 | |
Restructuring Reserve | 193 | 193 | $ 0 | |
Accrued Expenses and Other Current Liabilities [Member] | ||||
Restructuring Reserve | 200 | 200 | ||
Other Liabilities [Member] | ||||
Restructuring Reserve | $ 100 | $ 100 |
Note 12 - Restructuring - Sched
Note 12 - Restructuring - Schedule of Restructuring Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2023 | Sep. 30, 2023 | |
Total restructuring costs | $ 417 | $ 1,633 |
Employee Severance [Member] | ||
Total restructuring costs | 396 | 916 |
Retention Bonus Settlement [Member] | ||
Total restructuring costs | 0 | 411 |
Contract Termination [Member] | ||
Total restructuring costs | 0 | 285 |
Other Restructuring [Member] | ||
Total restructuring costs | $ 21 | $ 21 |
Note 12 - Restructuring - Summa
Note 12 - Restructuring - Summary of Restructuring Reserve (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | |
Balance – December 31, 2022 | $ 0 | ||
Charges | $ 400 | 1,632 | $ 0 |
Usage-cash | (1,418) | ||
Usage-non-cash | (21) | ||
Balance – September 30, 2023 | 193 | 193 | 0 |
Employee Severance [Member] | |||
Balance – December 31, 2022 | 0 | ||
Charges | 915 | ||
Usage-cash | (915) | ||
Usage-non-cash | 0 | ||
Balance – September 30, 2023 | 0 | 0 | 0 |
Retention Bonus Settlement [Member] | |||
Balance – December 31, 2022 | 0 | ||
Charges | 411 | ||
Usage-cash | (411) | ||
Usage-non-cash | 0 | ||
Balance – September 30, 2023 | 0 | 0 | 0 |
Contract Termination [Member] | |||
Balance – December 31, 2022 | 0 | ||
Charges | 285 | ||
Usage-cash | (92) | ||
Usage-non-cash | 0 | ||
Balance – September 30, 2023 | 193 | 193 | 0 |
Other Restructuring [Member] | |||
Balance – December 31, 2022 | 0 | ||
Charges | 21 | ||
Usage-cash | 0 | ||
Usage-non-cash | (21) | ||
Balance – September 30, 2023 | $ 0 | $ 0 | $ 0 |