Cover Page
Cover Page | 6 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2022 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | Q2 |
Entity Central Index Key | 0001862490 |
Current Fiscal Year End Date | --06-30 |
Entity Registrant Name | Tritium DCFC Limited |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) | 6 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Revenue | ||
Total revenue | $ 72,644,000 | $ 56,991,000 |
Cost of goods sold | ||
Total cost of goods sold | (79,689,000) | (53,457,000) |
Selling, general and administration expense | (36,437,000) | (46,851,000) |
Product development expense | (7,114,000) | (6,521,000) |
Foreign exchange gain/(loss) | 102,000 | 152,000 |
Total operating costs and expenses | (43,449,000) | (53,220,000) |
Loss from operations | (50,494,000) | (49,686,000) |
Other income (expense), net: | ||
Finance costs | (15,471,000) | (11,581,000) |
Transaction and offering related fees | 0 | (640,000) |
Fair value movements – warrants and derivative | 9,607,000 | (6,282,000) |
Other income | 87,000 | 51,000 |
Total other expenses | (5,777,000) | (18,452,000) |
(Loss) before income taxes | (56,271,000) | (68,138,000) |
Income tax expense | 0 | 0 |
Net (loss) | (56,271,000) | (68,138,000) |
Net (loss) per common share | ||
Net (loss) attributable to common shareholders | $ (56,271,000) | $ (68,137,947) |
Basic – common shares | $ (0.37) | $ (0.63) |
Diluted – common shares | $ (0.37) | $ (0.63) |
Weighted average shares outstanding | ||
Basic – common shares | 153,454,231 | 99,915,539 |
Diluted – common shares | 153,454,231 | 99,915,539 |
Comprehensive Loss | ||
Net (loss) | $ (56,271,000) | $ (68,138,000) |
Other income (loss) (net of tax) | ||
Change in foreign currency translation adjustment | (435,000) | 2,550,000 |
Total other comprehensive income (loss) (net of tax) | (435,000) | 2,550,000 |
Total comprehensive (loss) | (56,706,000) | (65,588,000) |
Service and maintenance revenue – external parties [Member] | ||
Revenue | ||
Total revenue | 4,376,000 | 2,405,000 |
Service and maintenance - costs of goods sold [Member] | ||
Cost of goods sold | ||
Total cost of goods sold | (1,770,000) | (1,962,000) |
Hardware revenue – external parties [Member] | ||
Revenue | ||
Total revenue | 66,579,000 | 41,952,000 |
Hardware revenue – related parties [Member] | ||
Revenue | ||
Total revenue | 1,588,000 | 12,629,000 |
Software revenue [Member] | ||
Revenue | ||
Total revenue | 101,000 | 5,000 |
Hardware – cost of goods sold [Member] | ||
Cost of goods sold | ||
Total cost of goods sold | $ (77,919,000) | $ (51,495,000) |
Legacy Tritium Class C Shares [Member] | ||
Net (loss) per common share | ||
Basic – common shares | $ 0 | $ (0.63) |
Diluted – common shares | $ 0 | $ (0.63) |
Weighted average shares outstanding | ||
Basic – common shares | 0 | 8,047,417 |
Diluted – common shares | 0 | 8,047,417 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Financial Position - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 |
Assets | ||
Cash and cash equivalents | $ 68,551 | $ 70,753 |
Accounts receivable - related parties | 183 | 16 |
Accounts receivable - external parties | 59,960 | 30,816 |
Accounts receivable - allowance for expected credit losses | (743) | (275) |
Inventory | 106,858 | 55,706 |
Prepaid expenses | 2,666 | 4,873 |
Deposits | 25,586 | 15,675 |
Total current assets | 263,061 | 177,564 |
Property, plant and equipment, net | 15,031 | 11,151 |
Operating lease right of use assets, net | 20,183 | 24,640 |
Total non-current assets | 35,214 | 35,791 |
Total assets | 298,275 | 213,355 |
Liabilities and Shareholders' Deficit | ||
Accounts Payable | 101,379 | 47,603 |
Borrowings | 904 | 74 |
Related party borrowings | 19,661 | 0 |
Contract liabilities | 70,017 | 37,727 |
Employee benefits | 2,692 | 2,653 |
Other provisions | 2,246 | 27,623 |
Obligations under operating leases | 2,995 | 4,020 |
Warrants | 10,050 | 12,340 |
Other current liabilities | 1,602 | 2,939 |
Total current liabilities | 211,546 | 134,979 |
Obligations under operating leases | 22,974 | 25,556 |
Contract liabilities | 2,776 | 2,231 |
Employee benefits | 295 | 217 |
Borrowings net of unamortized issuance costs | 135,873 | 88,269 |
Related party borrowings | 8,988 | 0 |
Other provisions | 3,069 | 2,652 |
Total non-current liabilities | 173,975 | 118,925 |
Total liabilities | 385,521 | 253,904 |
Commitments and Contingent liabilities | ||
Shareholders' Deficit | ||
Common stock, Value | 237,779 | 227,268 |
Treasury shares, 3,015,188 as of December 2022 (4,200,371 as of June 2022) | 0 | |
Additional paid in capital | 18,708 | 19,210 |
Accumulated other comprehensive income | 3,205 | 3,640 |
Accumulated deficit | (346,938) | (290,667) |
Total Shareholders' deficit | (87,246) | (40,549) |
Total Liabilities, and Shareholders' deficit | $ 298,275 | $ 213,355 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Financial Position (Parenthetical) - $ / shares | 6 Months Ended | 12 Months Ended |
Dec. 31, 2022 | Jun. 30, 2022 | |
Common stock par or stated value per share | $ 0 | $ 0 |
Common stock shares authorized | Unlimited | Unlimited |
Common stock shares issued | 156,310,918 | 153,094,269 |
Common stock shares outstanding | 156,310,918 | 148,893,898 |
Treasury stock shares | 3,015,188 | 4,200,371 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Shareholders' Deficit - USD ($) $ in Thousands | Total | B Riley Purchase Agreement [Member] | Employee Share Scheme [Member] | Long Term Incentive Plan [Member] | Loan Funded Share Plan [Member] | Short Term Incentive Plan [Member] | Common Stock [Member] | Common Stock [Member] B Riley Purchase Agreement [Member] | Common Stock [Member] Shadow Equity Plan [Member] | Common Stock [Member] Employee Share Scheme [Member] | Common Stock [Member] Long Term Incentive Plan [Member] | Legacy Tritium Class C Shares [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] Shadow Equity Plan [Member] | Additional Paid-in Capital [Member] Employee Share Scheme [Member] | Additional Paid-in Capital [Member] Long Term Incentive Plan [Member] | Additional Paid-in Capital [Member] Loan Funded Share Plan [Member] | Additional Paid-in Capital [Member] Short Term Incentive Plan [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] |
Beginning balance (in shares) at Jun. 30, 2021 | 73,254,797 | 5,468,249 | (5,361,826) | ||||||||||||||||||
Beginning balance at Jun. 30, 2021 | $ (64,008) | $ 92,809 | $ 4,383 | $ 0 | $ 5,601 | $ (3,696) | $ (163,105) | ||||||||||||||
Net loss | (68,138) | (68,138) | |||||||||||||||||||
Share-based payment compensation (in shares) | (100,000) | 100,000 | |||||||||||||||||||
Share-based payment compensation | 5,935 | 5,935 | |||||||||||||||||||
Other comprehensive loss for the period, net of tax | 2,550 | 2,550 | |||||||||||||||||||
Distribution reserve | (6,933) | (6,933) | |||||||||||||||||||
Ending balance (in shares) at Dec. 31, 2021 | 73,154,797 | 5,468,249 | (5,261,826) | ||||||||||||||||||
Ending Balance at Dec. 31, 2021 | (130,594) | $ 92,809 | $ 4,383 | $ 0 | 4,603 | (1,146) | (231,243) | ||||||||||||||
Beginning balance (in shares) at Jun. 30, 2022 | 153,094,269 | (4,200,371) | |||||||||||||||||||
Beginning balance at Jun. 30, 2022 | (40,549) | $ 227,268 | 19,210 | 3,640 | (290,667) | ||||||||||||||||
Net loss | (56,271) | (56,271) | |||||||||||||||||||
Issuance of DCFC Common Stock related to the Shadow Equity Plan (in shares) | 326,211 | ||||||||||||||||||||
Issuance of DCFC Common Stock related to the Shadow Equity Plan | $ 3,262 | $ (3,262) | |||||||||||||||||||
Exercise of warrants (in shares) | 2,203,487 | ||||||||||||||||||||
Exercise of warrants | 3,027 | $ 3,022 | 5 | ||||||||||||||||||
Issuance of Tritium DCFC ordinary shares (in shares) | 112,236 | 552,347 | 22,368 | ||||||||||||||||||
Issuance of Tritium DCFC ordinary shares | $ 741 | $ 741 | $ 3,389 | $ 97 | $ (3,389) | $ (97) | |||||||||||||||
Stock-based compensation | $ 3,521 | $ 1,423 | $ 806 | $ 491 | $ 3,521 | $ 1,423 | $ 806 | $ 491 | |||||||||||||
Other comprehensive loss for the period, net of tax | (435) | (435) | |||||||||||||||||||
Loan forgiveness related to the Loan Funded Share Plan | 1,185,183 | ||||||||||||||||||||
Ending balance (in shares) at Dec. 31, 2022 | 156,310,918 | 0 | (3,015,188) | ||||||||||||||||||
Ending Balance at Dec. 31, 2022 | $ (87,246) | $ 237,779 | $ 0 | $ 0 | $ 18,708 | $ 3,205 | $ (346,938) |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Shareholders' Deficit (Parenthetical) | 6 Months Ended |
Dec. 31, 2022 | |
Statement of Stockholders' Equity [Abstract] | |
Percentage of share allocation | 1% |
Condensed Consolidated Statem_6
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Cash flows from operating activities | ||
Net loss | $ (56,271) | $ (68,138) |
Reconciliation of net loss to net cash used in operating activities | ||
Share-based compensation expense | 5,435 | 28,912 |
Foreign exchange gains or losses | (364) | (152) |
Depreciation expense | 1,100 | 669 |
Fair value movements – warrants and derivative | (9,607) | 6,282 |
Capitalized interest | 6,942 | 10,885 |
Non-cash transaction costs on financing facility | 841 | |
Changes in operating assets and liabilities | ||
Accounts receivable | (28,843) | (35,475) |
Inventory | (51,152) | 1,888 |
Accounts payable | 32,014 | 23,007 |
Employee benefits | 117 | (12,459) |
Other liabilities | 24,293 | 28,330 |
Other assets | (3,218) | (7,733) |
Net cash used in operating activities | (78,711) | (23,984) |
Cash flows from investing activities | ||
Payments for property, plant and equipment | (4,944) | (2,576) |
Net cash used in investing activities | (4,944) | (2,576) |
Cash flows from financing activities | ||
Proceeds from borrowings – external parties | 150,000 | 28,645 |
Proceeds from borrowings – related parties | 30,000 | |
Proceeds from convertible notes including derivative | 73 | |
Repayment of borrowings – external parties | (95,205) | (10) |
Repayment of borrowings – related parties | (45) | |
Transaction costs for borrowings | (5,841) | |
Net cash provided by financing activities | 78,909 | 28,708 |
Effects of exchange rate changes on cash and cash equivalents | 2,544 | (3) |
Net increase (decrease) in cash and cash equivalents | (4,746) | 2,148 |
Cash and cash equivalents at the beginning of the period | 70,753 | 6,157 |
Cash and cash equivalents end of the period | 68,551 | 8,302 |
Supplemental information to the condensed consolidated statement of cash flows: | ||
Cash paid for interest, net of amounts capitalised | 7,962 | 2,238 |
Non-cash movements in relation to property, plant and equipment | 256 | |
Non-cash movement in relation to Right of Use Assets | (96) | 210 |
Cash paid in relation to lease liabilities | 1,755 | $ 1,497 |
Cashless conversion of warrants into common shares | $ 3,022 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of the condensed consolidated interim Basis of preparation The accompanying condensed consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). For the purpose of these condensed consolidated interim financial statements, intercompany accounts, transactions, and profits are eliminated in consolidation. The interim financial data as of December 31, 2022 and for the six months ended December 31, 2021 is unaudited. In the opinion of management, the interim financial data includes all adjustments, consisting only of normal recurring adjustments, necessary to a fair statement and presentation of the results for the interim periods. The results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. Reference should be made to the financial statements contained in our Annual Report on Form 20-F We present our condensed consolidated interim year-end Description of Business and General information On May 25, 2021, Tritium DCFC Limited (“Tritium DCFC”) entered into a Business Combination agreement (the “Business Combination Agreement” or “BCA”) with Tritium Holdings Pty Ltd (“Tritium Holdings”) and Decarbonization Plus Acquisition Corporation II (“DCRN”). On January 13, 2022 (the “Closing Date”), the BCA was consummated and Tritium Holdings and DCRN became wholly owned subsidiaries of Tritium DCFC (the “Business Combination”). Principles of consolidation The Business Combination has been accounted for as a reverse recapitalization, with no goodwill or other intangible assets recorded, in accordance with accounting principles generally accepted in the United States. Under this method of accounting, Tritium DCFC and DCRN have been treated as the “acquired” companies for financial reporting purposes. For accounting purposes, Tritium Holdings has been deemed to be the accounting acquirer in the transaction and, consequently, the transaction has been treated as a recapitalization of Tritium Holdings (i.e., a capital transaction involving the issuance of shares by Tritium Holdings for the net assets of DCRN, accompanied by a recapitalization of Tritium Holdings). Consequently, Tritium Holdings has been deemed the accounting predecessor, meaning that Tritium Holdings’ consolidated assets, liabilities and results of operations have become the historical financial statements of the Group. Additional details related to the accounting for the BCA have been disclosed in the consolidated financial statements of Tritium DCFC Limited for the year ended June 30, 2022. Subsidiaries Subsidiaries are all entities (including structured entities) over which the Company (being the parent entity of the Tritium DCFC Group) has control. All subsidiaries except for DCRN have a reporting year end of June 30. DCRN has a reporting year end of December 31. We present our consolidated financial statements on the basis of our fiscal year ending June 30. All references to years in these consolidated financial statements refer to the fiscal year ending or ended on June 30 of that year. Presentation The condensed consolidated financial statements are presented in United States dollars which is the Group’s reporting currency. All amounts disclosed in the condensed consolidated financial statements relate to the Group unless otherwise stated. The condensed consolidated financial statements have been prepared on the historical cost basis, except for derivative financial instruments, warrants and share-based compensation that have been measured at fair value. Going concern basis In the opinion of management, these unaudited condensed consolidated interim financial statements reflect a fair statement of our results of operations and financial condition for the periods, and at the dates, presented. The results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. Reference should be made to the financial statements for the year ended June 30, 2022. The Group incurred an operating loss after income tax of $56.3 million (December 31, 2021: $68.1m) and operating cash outflows of $78.7 million (December 31, 2021 : $23.9m) for the half year ended December 31, 2022. As at December 31, 2022 the Group had a total shareholders’ deficit of $87.2 million ( June 30, 2022 : $40.5m). The Board approved cashflow forecasts for the Group indicate that the Group will continue to incur operating cash outflows for at least 12 months from the date of this report to fund its expansion strategy. In addition, as detailed in Note 10, the Group has external borrowing facilities that require the Group to maintain minimum liquidity reserve levels throughout the terms of arrangement. While management has been successful in securing a level of additional funding, it is likely that additional working capital will be required to fund operating cashflows. The Group is currently assessing funding options from various sources. The above events and conditions raise substantial doubt about the Group’s ability to continue as a going concern and therefore, that it may be unable to realize its assets and discharge its liabilities in the normal course of business. In determining the Group’s ability to continue as a going concern, management has considered the following: • Demand for goods: The demand for products provided by the Group has increased significantly over the past 24 months and is forecast to continue. The Group had a sales backlog of $159 million as at balance sheet date, which is expected to result in a significant increase in revenue for the calendar year ended December 31, 2023. The Group has invested heavily in its inventory balance to fulfil these sales orders, supporting an accelerated production ramp. • Path to profitability: The Group’s scale in 2023 through the investments already made is expected to enable improved gross margins for its products and the ability for it to fund its own working capital requirements in future periods. The group is expecting to turn EBITDA positive during the first half of calendar year 2024. • Support from lenders and shareholders: The Group has demonstrated an ability to raise capital over a long period of time, stretching back to 2012, to fund R&D and operational expansion through loss making periods. St Baker group, Tritium’s largest shareholder, has injected debt and equity on more than 10 separate occasions since 2013. During the current period, the Group was successful in raising $180 million through three debt facilities. This has demonstrated the Group’s continued relationships with debt lenders to provide the necessary capital to support increased production and cash flow requirements over the next 12 months. • Customer wins: The Group continues to solidify its position as the #2 supplier of DC fast chargers in ANZ, US and Europe, and is expecting a significant increase in revenue this year based on strong sales backlog. With the investment in the Tennessee factory already made, Tritium is well-positioned to benefit from demand for Buy America-compliant EV fast chargers, driven by funding from the National Electric Vehicle Infrastructure (“NEVI”) Formula Program and the Inflation Reduction Act. • Regulatory or operational framework: No major changes to the Group’s operational framework, including supplier management, customer mix, the Group’s workforce, are expected for the foreseeable future. In considering the circumstances above, the Directors believe the Group will be successful in the above matters as the Group and its ultimate parent have a strong history of being able to raise capital from debt and equity sources and accordingly, that the going concern basis of preparation is appropriate. Should the Group be unable to continue as a going concern, it may be required to realise its assets and extinguish its liabilities other than in the ordinary course of business, and at amounts that differ from those stated in the financial statements. These condensed consolidated interim financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts or classification of liabilities and appropriate disclosures that may be necessary should the Group be unable to continue as a going concern. Recently adopted accounting standards The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for the year ended June 30, In May 2021, the FASB issued Accounting Standards Update (“ASU 2021-04”) In October 2021, the FASB issued Accounting Standards Update (“ASU 2021-08”) Recently issued accounting standards In August, 2020, the FASB issued Accounting Standards Update (“ASU 2020-06”) 470-20) 815-40)”. 2020-06 In November 2021, the FASB issued ASU No. 2021-10, Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include but are not limited to: determining the lease term of contracts with renewal and termination options, discount rates, share-based compensation, estimation of the fair value of derivatives and warrants, estimation of useful lives of assets, impairment of assets, taxes, employee benefits provisions and warranty provision. Management bases its estimates on historical experience and on various other assumptions believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates due to risks and uncertainties and may be material. Revenue recognition Bill and hold transactions In certain circumstances, the Group’s customers may request the Group store products on the customer’s behalf until the customer is ready to collect or have the goods delivered to their specified location. This may arise if customers are not ready to take delivery as a result, generally, of delays in their site construction and rollout or obtaining necessary customs clearances. In these situations, we have concluded that the transfer of control of these products to the customer occurs when the finished products are ready for delivery to the customer. In assessing the transfer of control in these “bill-and-hold” • billed the customers in full; • made the products available for the customer, end of line testing of the product is completed and notification made of the completion of manufacture; • identified the product physically and systematically as belonging to a specific customer and segregated in our warehouse; and • the Group does not have the ability to direct the product to a different customer. In assessing bill-and-hold |
Revenue
Revenue | 6 Months Ended |
Dec. 31, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | 2. REVENUE Six months to Six months to (a) Revenue from contracts with customers Sale of hardware – external parties 66,579 41,952 Sale of hardware – related parties 1,588 12,629 Sale of service and maintenance – external parties 4,376 2,405 Sale of software – external parties 101 5 Total revenue 72,644 56,991 Sale of hardware reflects the revenues from the sale of electric vehicle chargers. Hardware revenue is broken down into the sale of Stand Alone, or Distributed Chargers, or other products provided to customers. This revenue is recognized at a point in time when the performance obligations per the terms of a contract are satisfied. Depending on specific contract terms, this may be at delivery or dispatch, or when bill and hold criteria are met. Service and maintenance revenues can reflect either a point in time or an overtime obligation dependent on the services provided. The substantial portion of service and maintenance revenue is satisfied at a point in time, with the exception of Service Level Agreements which are recorded overtime. Details on the reportable segments have been referenced in Note 13, Segment Reporting. |
Selling, General and Administra
Selling, General and Administration Expenses | 6 Months Ended |
Dec. 31, 2022 | |
Selling, General and Administrative Expense [Abstract] | |
Selling, General and Administration Expenses | 3. SELLING, GENERAL AND ADMINISTRATION EXPENSE Six months to Six months to Equity settled share-based employees benefits expense (5,435 ) (12,019 ) Cash settled share-based compensation expense — (16,893 ) Wages, salaries and employee benefits (13,146 ) (10,400 ) Depreciation (658 ) (669 ) IT and communications (3,285 ) (2,788 ) Occupancy (1,721 ) (1,599 ) Sales and marketing (429 ) (201 ) Insurance (3,326 ) (303 ) Professional fees (6,731 ) (1,583 ) Expected credit losses on trade receivables (459 ) 133 Bad debt expenses — (2 ) Travel, meals, and accommodation expenses (913 ) (242 ) Other administration expenses (334 ) (227 ) Other operating expenses — (58 ) Total selling, general and administration expense (36,437 ) (46,851 ) |
Finance Costs
Finance Costs | 6 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Finance Costs And Fair Value Movement [Abstract] | |
Finance costs | 4. FINANCE COSTS Six months to Six months to Interest on debt and borrowings (Note 10) (12,242 ) (10,891 ) Other finance costs (3,229 ) (690 ) Total finance costs (15,471 ) (11,581 ) |
Income Tax Expense
Income Tax Expense | 6 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Tax Expense | 5. INCOME TAX EXPENSE There is no provision for income taxes because the Group has historically incurred operating losses and maintains a full valuation allowance against its net deferred tax assets. The Group’s loss before provision for income taxes for the 6 months ended December 31, 2022, and 2021 was generated in Australia. As a result, any material income tax results arise in foreign jurisdictions. A reconciliation of the statutory income tax rate to the Group’s effective income tax rate is as follows: Six months to Six months to Tax at the statutory tax rate of 30% (16,881 ) (20,654 ) Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Foreign tax rate differential 1,081 484 Non-deductible 1,968 6,625 Impact of foreign exchange rates (129 ) — Current year tax losses and changes in valuation allowance 1 13,961 13,545 Effective income tax — — 1 Net operating losses and temporary differences for which a valuation allowance has been recorded. Net deferred tax assets as of December 31, 2022, and June 30, 2022, consisted of the following: December 31, June 30, Deferred tax assets Unused tax losses 78,073 62,717 Employee entitlements 1,362 1,294 Warranties 1,659 1,571 Lease liabilities 7,791 8,871 Other 1,810 3,987 Total deferred tax assets 90,695 78,440 Deferred tax liabilities Right of use assets (6,055 ) (7,392 ) Total deferred tax liabilities (6,055 ) (7,392 ) Valuation allowance applied (84,640 ) (71,048 ) Net deferred tax assets — — Changes in deferred taxation allowance Opening balance – July 1 (71,048 ) (44,584 ) (Increase) in deferred tax assets (excluding losses) (13,592 ) (25,901 ) (Increase) recorded to income tax provision — — Other movements including foreign currency and rate differential — (563 ) Valuation allowance on tax losses – December 31, 2022, and June 30, 2022 (84,640 ) (71,048 ) The Group has not recorded any amounts for net operating losses and deferred tax assets as of December 31, 2022, and June 30, 2022. The material component represents net operating losses for which a full valuation allowance has been recorded. The Group’s historical tax losses predominantly arose in Australia. On December 31, 2022, and December 31, 2021, there are $238.5 million and $135.6 million respectively available indefinitely for offsetting against future taxable profits of the companies in which the losses arose, subject to certain tests being met. The losses are subject to confirmation with taxing authorities and the lodgement and finalization of income tax returns. The actual losses available on lodgement of these returns may be different. The future use is also uncertain due to Group operations, continuity of ownership limitations, tax law changes and compliance with existing tax law. Consequently, a full valuation allowance has been recorded as of December 31, 2022 and June 30, 2022. |
Accounts Receivable, Net of All
Accounts Receivable, Net of Allowance for Expected Credit Losses | 6 Months Ended |
Dec. 31, 2022 | |
Receivables [Abstract] | |
Accounts Receivable, Net of Allowance for Expected Credit Losses | 6. ACCOUNTS RECEIVABLE, NET OF ALLOWANCE FOR EXPECTED CREDIT LOSSES December 31, June 30, Trade receivables – external parties 57,677 28,559 Trade receivables – related parties 183 16 Total trade receivables 57,860 28,575 Less: Allowance for expected credit losses (743 ) (275 ) Sales tax receivable 650 1,150 Other receivables 1,633 1,107 Accounts receivable, net of allowance for expected credit losses 59,400 30,557 Consolidated Expected credit loss rate Carrying amount Allowance for expected December 31, June 30, December 31, June 30, December 31, June 30, % % $’000 $’000 $’000 $’000 Less than 30 days past due — — 46,980 16,337 — — 30 to 60 days past due — — 3,405 1,674 — — 61 to 90 days past due — — 468 710 — — Greater than 90 days past due 10.6 2.8 7,007 9,854 (743 ) (275 ) 57,860 28,575 (743 ) (275 ) Provision December 31, 2022 June 30, 2022 Opening balance of provision – July 1 (275 ) (227 ) Provision created during the year (458 ) (255 ) Recoveries during the year — 171 Foreign currency translation movements (10 ) 36 Closing balance of provision – December 31 and June 30 (743 ) (275 ) |
Inventory
Inventory | 6 Months Ended |
Dec. 31, 2022 | |
Inventory Disclosure [Abstract] | |
Inventory | 7. INVENTORY December 31, 2022 June 30, 2022 Raw materials and consumables 94,835 45,337 Work in progress 5,769 4,561 Finished goods 5,673 3,457 Stock in transit 1,275 2,845 Inventory obsolescence provision (694 ) (494 ) Total inventory 106,858 55,706 Inventory has been recorded at the lower of cost or net realisable value. Inventories recognized as an expense during the six-months |
Deposits
Deposits | 6 Months Ended |
Dec. 31, 2022 | |
Disclosure of Deposit [Abstract] | |
Deposits | 8. DEPOSITS Current assets December 31, 2022 June 30, 2022 Term deposits held against bank guarantees 3,705 3,796 Supplier deposits 21,881 11,879 Total current deposits 25,586 15,675 Supplier deposits are funds paid by the Group to suppliers for manufacturing and prepayments for services or utilities to be provided and invoiced later by the supplier. |
Accounts Payable
Accounts Payable | 6 Months Ended |
Dec. 31, 2022 | |
Payables and Accruals [Abstract] | |
Accounts Payable | 9. ACCOUNTS PAYABLE Current liabilities December 31, 2022 June 30, 2022 Trade and other payables 97,242 38,887 Tax payables 4,137 8,623 Related party payables — 93 Total accounts payable 101,379 47,603 Trade and other payables are unsecured, non-interest |
Borrowings
Borrowings | 6 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Borrowings | 10. BORROWINGS Current liabilities December 31, 2022 June 30, 2022 Interest-bearing borrowings – external parties 901 — Interest-bearing borrowings – related parties 19,661 — Credit card liability 3 74 Current liabilities 20,565 74 Interest-bearing borrowings – external parties 135,873 88,269 Interest-bearing borrowings – related parties 8,988 — Total borrowings 165,426 88,343 Borrowings Rollforward December 31, 2022 June 30, 2022 Opening Balance – July 1 88,343 80,332 Drawdowns of facilities 180,000 117,527 Transaction costs paid (16,496 ) (3,888 ) Repayment of borrowings (92,929 ) (72,407 ) Accrued Interest 6,942 12,761 Conversion of convertible notes — (42,570 ) Credit card borrowings (70 ) 49 Foreign currency translations movements (364 ) (3,461 ) Closing Balance – December 31 and June 30 165,426 88,343 Non-current Senior Loan Note Subscription Agreement On September 2, 2022, the existing $90 million senior debt facility from Cigna & Barings has been extended by $60 million to a $150 million facility which will be used to fund working capital to accelerate production, further product development, and support operations around the world. The facility has a 3-year This facility is secured against the present and after-acquired property of Tritium Holdings Pty Ltd and Tritium Pty Ltd. The facility has a number of conditions including the following Financial Covenants commencing on 31 March 2024. Total Leverage Ratio (TLR) must not be greater than the corresponding level specified below in respect of the Compliance Date: • TLR of 8.00x for March 31, 2024 • TLR of 5.00x for June 30, 2024 • TLR of 4.00x for September 30, 2024 • TLR of 3.50x for December 31, 2024 • TLR of 2.50x for March 31, 2025 and each compliance date thereafter Total Interest Cover Ratio (TIR) must not be less than the corresponding level specified below in respect of that Compliance Date: • TIR of 1.00x for March 31, 2024 • TIR of 1.50x for June 30, 2024 • TIR of 1.75x for September 30, 2024 • TIR of 2.00x for December 31, 2024 • TIR of 3.00x for March 31, 2025 and each compliance date thereafter It also requires the Group to maintain a minimum liquidity balance of $ 25 million. On November 18, 2022, the Group’s liquidity fell below the minimum required amount which has been notified to the lenders simultaneously with the execution of the Accordion Facility permitted by the senior debt facility agreement (see below), allowing the Group to restore the minimum liquidity balance by November 23, 2022. As a result of the Group’s ability to restore the minimum liquidity balance and to present expected future inflow of funds and expected timing, the lenders confirmed on December 12, 2022: • the remediation of this event to their satisfaction, and accordingly no Review Event Notice will be issued; • to waive any event of default which occurred as a result of a breach of a representation, warranty, condition or undertaking made in entering into the Accordion Facility when being under the minimum liquidity balance. Accordion Facility The Group entered into a loan agreement with Sunset Power Pty Ltd (“Sunset Power”) as trustee of the St Baker Family Trust on November 18, 2022 (“borrowing”). Finance of $ 10.0 million was obtained under this borrowing agreement. The borrowing attracts interest at the coupon rate of 8.5%. This accrued interest on the borrowing is capitalized into the balance of the loan and is repayable in full with the principal at termination date. The borrowing is repayable via cash settlement on the termination date of November 18, 2025. This facility is secured against the present and after-acquired property of Tritium Holdings Pty Ltd and Tritium Pty Ltd. Working capital facility Sunset Power as trustee of the St Baker Family Trust has also provided a $20.0 million working capital facility (“Working Capital Facility”) on December 23, 2022 and was drawn down in full on December 30, 2022. The drawdown was subject to a 2% commitment fee. The Working Capital Facility attracts interest at a coupon rate of 9.5% on 360-day NAB Facility The Group has a NAB facility which is used for credit cards and other liabilities in the Group. The NAB facility is 100% supported by term deposits and is a non-interest |
Warrants
Warrants | 6 Months Ended |
Dec. 31, 2022 | |
Warrants and Rights Note Disclosure [Abstract] | |
Warrants | 11. WARRANTS During the six months ended December 31, 2022, the Group issued 2,166,229 warrants in conjunction with refinancing of the senior debt facility and the Accordion facility. The warrants vest in three equal tranches over a period of eighteen months and entitle the holder to purchase one share of the Group’s common stock, at an exercise price of $0.0001 per share. The terms of the warrants also allow a ‘cashless exercise’ by the holder, at their discretion, wherein, the Group will deliver a net number of shares to the holder, without any cash receipts. The terms of the warrants also provide for a minimum guaranteed value that will be delivered by the Group to the holder of the warrants, varying with the date on which the warrants are exercised. Any shortfall in the guaranteed value may be delivered by the Group in the form of additional ordinary shares or cash, at its discretion, except where the delivery of additional ordinary shares will result in the holder acquiring an equity interest in the group exceeding 10% (or 20% with its affiliates), in such situations the additional guaranteed value must be delivered in cash. The Group evaluated the warrants and concluded that they do not meet the criteria to be classified within stockholders’ equity. This is primarily based on the fact that the Group may be obligated to deliver cash to the warrant holders, to deliver the minimum guaranteed value. As such, the warrants have been classified as a financial liability instrument, measured at fair value with subsequent changes in fair value recorded in the statement of profit or loss. The Group has previously issued Public and Private warrants, the accounting treatment for which has been discussed in detail in the Group’s financial statements for the year ended June 30, 2022. Fair Value Measurements The fair values of the Group’s financial assets and financial liabilities reflect the amounts that would be received to sell the assets or paid to transfer the liabilities in an orderly transaction between market participants at the measurement date (exit price). The fair value of the Group’s long-term debt with fixed interest rates is based on market prices, if available, or expected future cash flows discounted at the current interest rate for financial liabilities with similar risk profiles (level 2 fair value hierarchy). Based on this assessment the fair value of the Group’s long-term debt is materially the same as the carrying value. The Group’s assets and liabilities that were measured at fair value on a recurring basis were as follows: Fair Value Measured as at December 31, 2022 level 1 level 2 level 3 Total $’000 $’000 $’000 $’000 Public warrant liabilities 2,645 — — 2,645 Private warrant liabilities — 71 — 71 Other warrant liabilities — 7,335 — 7,335 Total 2,645 7,406 — 10,050 The following table presents a summary of the changes in the fair value of the Group’s warrant liability: Public warrants Private warrants Other warrants Total Number of Amounts Number of Amounts Number of Amounts Number of Amounts $’000 $’000 $’000 $’000 Balance as at July 1, 2022 9,037,130 12,019 241,147 321 — — 9,278,277 12,340 Warrants issued — — — — 2,166,229 10,355 2,166,229 10,355 Warrants exercised and equity issued (10,146 ) (18 ) — — (631,819 ) (3,025 ) (641,965 ) (3,043 ) Change in fair value — (9,356 ) — (250 ) — 5 — (9,602 ) Balance as at December 31, 2022 9,026,984 2,645 241,147 71 1,534,410 7,335 10,802,541 10,050 |
Contract Liabilities
Contract Liabilities | 6 Months Ended |
Dec. 31, 2022 | |
Contract with Customer, Liability [Abstract] | |
Contract Liabilities | 12. CONTRACT LIABILITIES Current liabilities December 31, 2022 June 30, 2022 Customer advance deposits 65,217 33,508 Unearned revenue 4,800 4,219 Non-current Customer advance deposits 1,357 847 Unearned revenue 1,419 1,384 Total contract liabilities 72,793 39,958 It is expected that the performance obligations recognized as current contract liabilities which are yet to be satisfied as of December 31, 2022, will be recognized in revenue in the next 12 months. Unearned revenue represents the sale of extended warranties which is recognized as revenue over the term of the extended warranty. Customer advance deposits represent advance payments for products, which are made at the time the order is placed and are recorded as revenue once the performance obligation is satisfied. |
Segment Reporting
Segment Reporting | 6 Months Ended |
Dec. 31, 2022 | |
Segment Reporting [Abstract] | |
Segment Reporting | 13. SEGMENT REPORTING The following table presents revenue by the Group’s reportable segments: Hardware Revenue Stand Distributed Other Total Service and Software Total 6 months ended December 31, 2021 Revenue 36,498 17,732 351 54,581 2,405 5 56,991 Cost of goods sold (34,033 ) (17,260 ) (202 ) (51,495 ) (1,962 ) — (53,457 ) Segment gross profit/(loss) 2,465 472 149 3,086 443 5 3,534 6 months ended December 31, 2022 Revenue 47,576 18,408 2,183 68,167 4,376 101 72,644 Cost of goods sold (53,264 ) (21,729 ) (2,926 ) (77,919 ) (1,770 ) — (79,689 ) Segment gross profit/(loss) (5,688 ) (3,321 ) (743 ) (9,752 ) 2,606 101 (7,045 ) The Group assesses the performance and makes operating decisions on the basis of seven existing operating segments, which are aggregated into three reportable hardware segments, one service and maintenance segment and one software segment. The hardware operating segments meet the qualitative criteria for aggregation in this manner as the operating segments that are aggregated into the stand alone segment have similar economic characteristics, are similar in nature and they have similar manufacture, distribution chains and customers. This is also the case for those operating segments that are aggregated into the ‘distributed chargers’ segment. Stand alone charging systems are single units. Distributed charging systems can have multiple user units all connected in the one system. Other hardware products are managed as a single operating and reportable segment and are monitored by the Group’s Chief Operating Decision Making (CODM) in this way. The Group believes the current method of segment reporting reflects both the way its business segments are currently managed and the way the performance of each segment is evaluated. Service and maintenance revenue relates to commissioning, repair, maintenance, and training and is recognized when the service and/or maintenance has been provided, either over time or at a point in time. Software revenue relates to software services related to licenses and other software modules, such as preventative maintenance and site utilization. The Group does not monitor service and maintenance and software revenue as it is not considered a key part of the current business operations. The CODM uses revenue and gross margin/loss to evaluate segment performance and allocate resources. The CODM does not evaluate operating segments using asset or liability information nor are there any other performance metrics or measures used to monitor the operations. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies and there are no inter-segment In terms of concentration of customer risks, revenues from one customer in the distributed chargers segment represents approximately $11.2 million or 15% of the total amount (2021: $8.2 million or 14%). The decline in the gross profit/ (loss) for the Hardware segment during the period ended December 31, 2022, as compared to the six months period ended December 31, 2021 was mainly on account of product/ customer mix, increase in freight costs and a general increase in headcount, rent and setup costs due to commissioning of the Tennessee factory. The following table reconciles segment gross (loss) to loss from operations and a calculation of segment gross margin: Group 6 months 6 months Revenue 72,644 56,991 Cost of goods sold (79,689 ) (53,457 ) Segment gross profit/(loss) (7,045 ) 3,534 Selling, general and administration expense (36,437 ) (46,851 ) Product development expense (7,114 ) (6,521 ) Foreign currency (gain)/loss 102 152 Loss from operations (50,494 ) (49,686 ) Segment gross profit/(loss) (7,045 ) 3,534 Revenue 72,644 56,991 Segment gross margin (9.7 %) 6.2 % The Group has historically assessed segment performance on a measure of segment gross profit/(loss). Segment gross profit is calculated as Revenue less Cost of goods sold. The following table presents the Group’s revenue by geographic area based on the entity that has entered the external contract to supply the product and services. The entity’s geographical area is based on the place of incorporation. Group 6 months 6 months Australia 9,876 5,745 United States 26,521 25,134 The Netherlands 36,247 26,112 Total revenue 72,644 56,991 The following table presents long-lived assets by geographic area on the same basis as detailed above: Group December 31, 2022 June 30, 2022 Australia 17,721 18,709 United States 16,900 16,290 The Netherlands 593 792 Total long-lived assets 35,214 35,791 |
Loss Per Share
Loss Per Share | 6 Months Ended |
Dec. 31, 2022 | |
Earnings Per Share [Abstract] | |
Loss Per Share | 14. LOSS PER SHARE Group Basic EPS December 31, 2022 December 31, 2021 Net loss attributable to common shareholders (56,271,000 ) (68,137,947 ) Weighted average number of common shares 153,454,231 99,915,539 EPS – common shareholders (0.37 ) (0.63 ) Weighted average number of class C shares — 8,047,417 EPS – class C shareholders — (0.63 ) Loss per share calculations for all periods prior to the Business Combination have been retrospectively adjusted for the equivalent number of shares outstanding immediately after the Business Combination to effect the reverse recapitalization, less shares related to the mandatorily convertible notes and the Loan Funded Share Plan. The share conversion factor applied to shares immediately prior to the Business Combination is 1.4716625. Because the Company reported net losses for all periods presented, all potentially dilutive Common Stock equivalents were determined to be antidilutive for those periods and have been excluded from the calculation of net loss per share. The Loss per share as previously reported was calculated on the following basis: Group Basic EPS December 31, 2021 Net loss attributable to common shareholders (63,059,034 ) Weighted average number of common shares 67,892,971 EPS – common shareholders (0.93 ) Net loss attributable to class C shareholders (5,078,913 ) Weighted average number of class C shares 5,468,249 EPS – class C shareholders (0.93 ) |
Share Options Outstanding
Share Options Outstanding | 6 Months Ended |
Dec. 31, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Share Options Outstanding | 15. SHARE OPTIONS OUTSTANDING Loan Funded Share Plan (“LFSP”) The Group’s consolidated financial statements for the year ended June 30, 2022 provide detailed information with respect to the LFSP. For the six months ended December 31, 2022, as the LFSP was fully vested no share-based payment expense was recognised The following table summarises the average weighted life contractually remaining, average weighted fair value and average weighted exercise price of options granted, exercised, cancelled or modified during the six months ended December 31, 2022, under the LFSP: Average Weighted Average Weighted Average No. of Balance at July 1, 2022 4.18 0.56 1.75 4,200,371 Options granted Options exercised 0.89 0.69 1.51 457,589 Options cancelled — — — — Balance at December 31, 2022 (vested and exercisable) 3.36 0.55 1.67 3,742,782 Employee Share Scheme The Group’s consolidated financial statements for the year ended June 30, 2022 provide detailed information with respect to the Employee Share Scheme. For the six months ended December 31, 2022, the Group has recognised $3,521,003 of share-based payment expense in the condensed consolidated statement of operations and comprehensive loss under the Employee Share Scheme (December 31, 2021: $nil). The following table summarises the average weighted life contractually remaining, average weighted fair value and average weighted exercise price of options granted, exercised, cancelled or modified during the six months ended December 31, 2022, under the Employee Share Scheme: Average Weighted Average Weighted Average No. of shares Balance at July 1, 2022 0.25 $ 6.19 1,328,758 Options granted Options exercised 0.00 $ 6.19 $ 3.64 657,303 Options cancelled 0.00 $ 6.19 7,332 Balance at December 31, 2022 (vested and exercisable) 0.00 $ 6.19 664,123 Long Term Incentive Plan (“LTIP”) The Group’s consolidated financial statements for the year ended June 30, 2022 provide detailed information with respect to the LTIP. Performance rights under the Long Term Incentive Plan (LTIP) were communicated to a group of employees, executive management and the non-executive In addition during the six months period ending December 31, 2022, formal acceptance (as required under the LTIP Rules) was received from some employees, executive management and non-executive Average Weighted Average Weighted Average No. of Balance at July 1, 2022 Options granted 1.71 $ 5.01 230,895 Options exercised Options cancelled Balance at December 31, 2022 (vested and exercisable) 1.21 $ 5.01 230,895 For the six months ended December 31, 2022, the Group has recognised $1,423,050 of share-based payment expense in the condensed consolidated statement of operations and comprehensive loss under the LTIP (December 31, 2021: $0). Short Term Incentive Plan (“STIP”) Performance rights under the STIP were communicated to a group of employees, executive management and the non-executive For the six months ended December 31, 2022, the Group has recognised $490,545 of share-based payment expense in the condensed consolidated statement of operations and comprehensive loss under the STIP (December 31, 2021: $0). |
Fair Valuation of Share Based C
Fair Valuation of Share Based Compensation | 6 Months Ended |
Dec. 31, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions and Methodology [Abstract] | |
Fair Valuation of Share Based Compensation | 16. FAIR VALUATION OF SHARE BASED COMPENSATION LFSP The Group uses the fair value method in recognizing share-based Black-Scholes The weighted average fair value for share options that were outstanding (including issuances in the year) as at December 31, 2022 are as follows: Risk free interest rate 1.56 % Expected term 0.5 Expected volatility 60 % Dividend yield 0.00 Grant value fair value per share $ 1.19 Share price $ 1.68 Aggregate intrinsic value of shares vested and not yet exercised $ 2,956,798 Employee Share Scheme The Group uses the fair value method in recognizing share-based Black-Scholes The weighted average fair value for share options that were outstanding (including issuances in the year) as at December 31, 2022 are as follows: Risk free interest rate 2.55 % Expected term 1 Grant date fair value per share $ 6.19 Share price $ 1.68 Aggregate intrinsic value of shares vested and not yet exercised $ 0 LTIP The Group uses the fair value method in recognizing share-based Black-Scholes The weighted average fair value for share options that were outstanding (including issuances in the year) as at December 31, 2022 are as follows: Risk free interest rate 4.27 % Expected term 1.71 Grant date fair value per share $ 5.01 Share price $ 1.68 Aggregate intrinsic value of shares vested and not yet exercised $ 0 STIP The Group uses the fair value method in recognizing share-based The weighted average fair value for share options that were outstanding (including issuances in the year) as at December 31, 2022 are as follows: Risk free interest rate 3.93 % Expected term 1 Grant date fair value per share $ 1.68 Share price $ 1.68 Aggregate intrinsic value of shares vested and not yet exercised $ 0 |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 6 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | 17. COMMITMENTS AND CONTINGENT LIABILITIES Legal Proceedings Any material legal proceedings have been provided for as at December 31, 2022 and June 30, 2022. Legal proceedings were related to product matters and have since been settled within the amounts provided for. Any differences are immaterial. Contingent liabilities The Group did not have any contingent liabilities as of December 31, 2022, or June 30, 2022. Contractual Commitments The Group did not have any commitments as of December 31, 2022, or June 30, 2022. |
Share Capital
Share Capital | 6 Months Ended |
Dec. 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
Share Capital | 18. SHARE CAPITAL On September 2, 2022, the Group entered into an Ordinary Shares Purchase Agreement (the “Purchase Agreement”) and a Registration Rights Agreement (the “Registration Rights Agreement”) with B. Riley Principal Capital II, LLC (“B. Riley Principal Capital II” or “B. Riley”). Pursuant to the Purchase Agreement, the Group has the right to sell to B. Riley Principal Capital II up to $75 million of its Ordinary Shares, from time to time during the term of the Purchase Agreement. Sales of Ordinary Shares pursuant to the Purchase Agreement, and the timing of any sales, are solely at the option of the Group, and the Group is under no obligation to sell any securities to B. Riley under the Purchase Agreement. The right to sell ordinary shares under the Purchase Agreement was considered to be a derivative asset with an insignificant fair value at December 31, 2022. The Group incurred costs of $0.8 million, including the issuance of shares, as a consideration to B. Riley for its irrevocable commitment to purchase shares under the Purchase Agreement. These costs were included in other finance costs, net in the condensed consolidated statements of operations and comprehensive income (loss) for the six months ended December 31, 2022. The shares issued as consideration have been recorded within share capital. |
Related Party Disclosures
Related Party Disclosures | 6 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions [Abstract] | |
Related Party Disclosures | 19. RELATED PARTY DISCLOSURES Unless otherwise disclosed, transactions with related parties are made on normal commercial terms and at market rates. All related parties are companies that are associated shareholders. The following presents the transactions that occurred with related parties along with balances receivable from/ payable to related parties: Accounts Accounts Loan June 30, 2022 Fast Cities Australia 16 — — St Baker Energy — 93 — Total 16 93 — December 31, 2022 Fast Cities Australia 183 — — St Baker Energy — — 28,649 Total 183 — 28,649 Hardware Purchases Other December 31, 2021 Gilbarco 8,135 338 — Fast Cities Australia 2,392 — — St Baker Energy — 125 — Palantir Technologies — 1,731 — Total 10,527 2,194 — December 31, 2022 Fast Cities Australia 1,588 — — Palantir Technologies — 2,135 — Nexport Pty Ltd — — 12 Total 1,588 2,135 12 Transactions with Gilbarco The purchase transactions entered into with Gilbarco during the six months ended December 31, 2021 were in respect of certain service agent fee charged by Gilbarco to the Group. Gilbarco ceased to be the Group’s related party since November 29, 2021 which is the date Gilbarco resigned from the Board of Directors of Tritium. As such, all transactions between the Group and Gilbarco that occurred prior to November 29, 2021 are disclosed above as related party transactions. The Group has sold products to Gilbarco during the period at normal trading terms. Transactions with Fast Cities The Group has sold products to Fast Cities during the period at normal trading terms. The receivables due at the end of the period are payable within 30 days. Transactions with Palantir Technologies Inc. The Group has entered a contractual commitment with Palantir Technologies Inc. (“Palantir”) in the value of $21 million pertaining to Palantir Platform – Foundry Cloud Subscription. After December 31, 2021, Palantir became a related party. The Group has received an IT outsourcing service from Palantir Technologies Inc. during the period at normal trading terms. Transactions with Nexport Pty Ltd The Group entered into a license agreement with Nexport Pty Ltd to allow its employees to co-occupy 2 . Transactions with St Baker Energy The purchase transactions entered into with St Barker Energy during the six months ended December 31, 2021 were in respect of payment towards provision of contract staff to the Group, by St Baker Energy. The terms of the loan payable have been disclosed in Note 10. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Dec. 31, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | 20. SUBSEQUENT EVENTS BP order Subsequent to the reporting period, BP has placed the largest ever order from a single customer in Tritium’s history. Tritium is supplying the chargers for BP pulse as part of a multi-year contract between the two companies, announced in April 2022, for chargers and related services to support BP’s growth in electrification. BP’s order includes a mix of Tritium’s 50kW RTM and 150kW PKM chargers. Evyve order Subsequent to the reporting period, Tritium has executed an agreement with evyve, an EV charging network in the UK, to become the network’s preferred fast charger technology provider. The agreement includes initial total orders for 350 Tritium fast chargers and evyve has received first deliveries of these chargers, 60 of which are now installed and operational. The evyve charging network is planned to consist of Tritium’s modular chargers, including the 75kW charger and 150kW fast charger. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Use of estimates | Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include but are not limited to: determining the lease term of contracts with renewal and termination options, discount rates, share-based compensation, estimation of the fair value of derivatives and warrants, estimation of useful lives of assets, impairment of assets, taxes, employee benefits provisions and warranty provision. Management bases its estimates on historical experience and on various other assumptions believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates due to risks and uncertainties and may be material. |
Revenue recognition | Revenue recognition Bill and hold transactions In certain circumstances, the Group’s customers may request the Group store products on the customer’s behalf until the customer is ready to collect or have the goods delivered to their specified location. This may arise if customers are not ready to take delivery as a result, generally, of delays in their site construction and rollout or obtaining necessary customs clearances. In these situations, we have concluded that the transfer of control of these products to the customer occurs when the finished products are ready for delivery to the customer. In assessing the transfer of control in these “bill-and-hold” • billed the customers in full; • made the products available for the customer, end of line testing of the product is completed and notification made of the completion of manufacture; • identified the product physically and systematically as belonging to a specific customer and segregated in our warehouse; and • the Group does not have the ability to direct the product to a different customer. In assessing bill-and-hold |
Revenue (Tables)
Revenue (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of disaggregation of revenue | Six months to Six months to (a) Revenue from contracts with customers Sale of hardware – external parties 66,579 41,952 Sale of hardware – related parties 1,588 12,629 Sale of service and maintenance – external parties 4,376 2,405 Sale of software – external parties 101 5 Total revenue 72,644 56,991 |
Selling, General and Administ_2
Selling, General and Administration Expenses (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Selling, General and Administrative Expense [Abstract] | |
Schedule of selling general and administration expense | Six months to Six months to Equity settled share-based employees benefits expense (5,435 ) (12,019 ) Cash settled share-based compensation expense — (16,893 ) Wages, salaries and employee benefits (13,146 ) (10,400 ) Depreciation (658 ) (669 ) IT and communications (3,285 ) (2,788 ) Occupancy (1,721 ) (1,599 ) Sales and marketing (429 ) (201 ) Insurance (3,326 ) (303 ) Professional fees (6,731 ) (1,583 ) Expected credit losses on trade receivables (459 ) 133 Bad debt expenses — (2 ) Travel, meals, and accommodation expenses (913 ) (242 ) Other administration expenses (334 ) (227 ) Other operating expenses — (58 ) Total selling, general and administration expense (36,437 ) (46,851 ) |
Finance Costs (Tables)
Finance Costs (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Finance Costs And Fair Value Movement [Abstract] | |
Schedule of finance costs | Six months to Six months to Interest on debt and borrowings (Note 10) (12,242 ) (10,891 ) Other finance costs (3,229 ) (690 ) Total finance costs (15,471 ) (11,581 ) |
Income Tax Expense (Tables)
Income Tax Expense (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Summary of Effective Income Tax Rate Reconciliation | A reconciliation of the statutory income tax rate to the Group’s effective income tax rate is as follows: Six months to Six months to Tax at the statutory tax rate of 30% (16,881 ) (20,654 ) Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Foreign tax rate differential 1,081 484 Non-deductible 1,968 6,625 Impact of foreign exchange rates (129 ) — Current year tax losses and changes in valuation allowance 1 13,961 13,545 Effective income tax — — 1 Net operating losses and temporary differences for which a valuation allowance has been recorded. |
Schedule of Net Deferred Tax Assets | Net deferred tax assets as of December 31, 2022, and June 30, 2022, consisted of the following: December 31, June 30, Deferred tax assets Unused tax losses 78,073 62,717 Employee entitlements 1,362 1,294 Warranties 1,659 1,571 Lease liabilities 7,791 8,871 Other 1,810 3,987 Total deferred tax assets 90,695 78,440 Deferred tax liabilities Right of use assets (6,055 ) (7,392 ) Total deferred tax liabilities (6,055 ) (7,392 ) Valuation allowance applied (84,640 ) (71,048 ) Net deferred tax assets — — Changes in deferred taxation allowance Opening balance – July 1 (71,048 ) (44,584 ) (Increase) in deferred tax assets (excluding losses) (13,592 ) (25,901 ) (Increase) recorded to income tax provision — — Other movements including foreign currency and rate differential — (563 ) Valuation allowance on tax losses – December 31, 2022, and June 30, 2022 (84,640 ) (71,048 ) |
Accounts Receivable, Net of A_2
Accounts Receivable, Net of Allowance for Expected Credit Losses (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Receivables [Abstract] | |
Schedule of Accounts Receivable | December 31, June 30, Trade receivables – external parties 57,677 28,559 Trade receivables – related parties 183 16 Total trade receivables 57,860 28,575 Less: Allowance for expected credit losses (743 ) (275 ) Sales tax receivable 650 1,150 Other receivables 1,633 1,107 Accounts receivable, net of allowance for expected credit losses 59,400 30,557 |
Accounts Receivable, Noncurrent, Past Due | Consolidated Expected credit loss rate Carrying amount Allowance for expected December 31, June 30, December 31, June 30, December 31, June 30, % % $’000 $’000 $’000 $’000 Less than 30 days past due — — 46,980 16,337 — — 30 to 60 days past due — — 3,405 1,674 — — 61 to 90 days past due — — 468 710 — — Greater than 90 days past due 10.6 2.8 7,007 9,854 (743 ) (275 ) 57,860 28,575 (743 ) (275 ) |
Accounts Receivable, Allowance for Credit Loss | Provision December 31, 2022 June 30, 2022 Opening balance of provision – July 1 (275 ) (227 ) Provision created during the year (458 ) (255 ) Recoveries during the year — 171 Foreign currency translation movements (10 ) 36 Closing balance of provision – December 31 and June 30 (743 ) (275 ) |
Inventory (Tables)
Inventory (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory | December 31, 2022 June 30, 2022 Raw materials and consumables 94,835 45,337 Work in progress 5,769 4,561 Finished goods 5,673 3,457 Stock in transit 1,275 2,845 Inventory obsolescence provision (694 ) (494 ) Total inventory 106,858 55,706 |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Disclosure of Deposit [Abstract] | |
Schedule of Deposit Current and Non Current | Current assets December 31, 2022 June 30, 2022 Term deposits held against bank guarantees 3,705 3,796 Supplier deposits 21,881 11,879 Total current deposits 25,586 15,675 |
Accounts Payable (Tables)
Accounts Payable (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Payables and Accruals [Abstract] | |
Summary of Accounts Payable | Current liabilities December 31, 2022 June 30, 2022 Trade and other payables 97,242 38,887 Tax payables 4,137 8,623 Related party payables — 93 Total accounts payable 101,379 47,603 |
Borrowings (Tables)
Borrowings (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of Debt | Current liabilities December 31, 2022 June 30, 2022 Interest-bearing borrowings – external parties 901 — Interest-bearing borrowings – related parties 19,661 — Credit card liability 3 74 Current liabilities 20,565 74 Interest-bearing borrowings – external parties 135,873 88,269 Interest-bearing borrowings – related parties 8,988 — Total borrowings 165,426 88,343 |
Disclosure In Tabular Form Of Movements In Long Term Debt | Borrowings Rollforward December 31, 2022 June 30, 2022 Opening Balance – July 1 88,343 80,332 Drawdowns of facilities 180,000 117,527 Transaction costs paid (16,496 ) (3,888 ) Repayment of borrowings (92,929 ) (72,407 ) Accrued Interest 6,942 12,761 Conversion of convertible notes — (42,570 ) Credit card borrowings (70 ) 49 Foreign currency translations movements (364 ) (3,461 ) Closing Balance – December 31 and June 30 165,426 88,343 |
Warrants (Tables)
Warrants (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Warrants and Rights Note Disclosure [Abstract] | |
Summary of assets and liabilities that were measured at fair value on a recurring basis | The Group’s assets and liabilities that were measured at fair value on a recurring basis were as follows: Fair Value Measured as at December 31, 2022 level 1 level 2 level 3 Total $’000 $’000 $’000 $’000 Public warrant liabilities 2,645 — — 2,645 Private warrant liabilities — 71 — 71 Other warrant liabilities — 7,335 — 7,335 Total 2,645 7,406 — 10,050 |
Summary of changes in the fair value | The following table presents a summary of the changes in the fair value of the Group’s warrant liability: Public warrants Private warrants Other warrants Total Number of Amounts Number of Amounts Number of Amounts Number of Amounts $’000 $’000 $’000 $’000 Balance as at July 1, 2022 9,037,130 12,019 241,147 321 — — 9,278,277 12,340 Warrants issued — — — — 2,166,229 10,355 2,166,229 10,355 Warrants exercised and equity issued (10,146 ) (18 ) — — (631,819 ) (3,025 ) (641,965 ) (3,043 ) Change in fair value — (9,356 ) — (250 ) — 5 — (9,602 ) Balance as at December 31, 2022 9,026,984 2,645 241,147 71 1,534,410 7,335 10,802,541 10,050 |
Contract Liabilities (Tables)
Contract Liabilities (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Contract with Customer, Liability [Abstract] | |
Summary of Contract With Customer Liability | Current liabilities December 31, 2022 June 30, 2022 Customer advance deposits 65,217 33,508 Unearned revenue 4,800 4,219 Non-current Customer advance deposits 1,357 847 Unearned revenue 1,419 1,384 Total contract liabilities 72,793 39,958 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Segment Reporting [Abstract] | |
Summary of revenue by Group's reportable segments | The following table presents revenue by the Group’s reportable segments: Hardware Revenue Stand Distributed Other Total Service and Software Total 6 months ended December 31, 2021 Revenue 36,498 17,732 351 54,581 2,405 5 56,991 Cost of goods sold (34,033 ) (17,260 ) (202 ) (51,495 ) (1,962 ) — (53,457 ) Segment gross profit/(loss) 2,465 472 149 3,086 443 5 3,534 6 months ended December 31, 2022 Revenue 47,576 18,408 2,183 68,167 4,376 101 72,644 Cost of goods sold (53,264 ) (21,729 ) (2,926 ) (77,919 ) (1,770 ) — (79,689 ) Segment gross profit/(loss) (5,688 ) (3,321 ) (743 ) (9,752 ) 2,606 101 (7,045 ) |
Summary of reconciliation of loss from operations and segment gross margin | The following table reconciles segment gross (loss) to loss from operations and a calculation of segment gross margin: Group 6 months 6 months Revenue 72,644 56,991 Cost of goods sold (79,689 ) (53,457 ) Segment gross profit/(loss) (7,045 ) 3,534 Selling, general and administration expense (36,437 ) (46,851 ) Product development expense (7,114 ) (6,521 ) Foreign currency (gain)/loss 102 152 Loss from operations (50,494 ) (49,686 ) Segment gross profit/(loss) (7,045 ) 3,534 Revenue 72,644 56,991 Segment gross margin (9.7 %) 6.2 % |
Summary of revenue and long-lived assets by geographic area | The following table presents the Group’s revenue by geographic area based on the entity that has entered the external contract to supply the product and services. The entity’s geographical area is based on the place of incorporation. Group 6 months 6 months Australia 9,876 5,745 United States 26,521 25,134 The Netherlands 36,247 26,112 Total revenue 72,644 56,991 The following table presents long-lived assets by geographic area on the same basis as detailed above: Group December 31, 2022 June 30, 2022 Australia 17,721 18,709 United States 16,900 16,290 The Netherlands 593 792 Total long-lived assets 35,214 35,791 |
Loss Per Share (Tables)
Loss Per Share (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | Group Basic EPS December 31, 2022 December 31, 2021 Net loss attributable to common shareholders (56,271,000 ) (68,137,947 ) Weighted average number of common shares 153,454,231 99,915,539 EPS – common shareholders (0.37 ) (0.63 ) Weighted average number of class C shares — 8,047,417 EPS – class C shareholders — (0.63 ) The Loss per share as previously reported was calculated on the following basis: Group Basic EPS December 31, 2021 Net loss attributable to common shareholders (63,059,034 ) Weighted average number of common shares 67,892,971 EPS – common shareholders (0.93 ) Net loss attributable to class C shareholders (5,078,913 ) Weighted average number of class C shares 5,468,249 EPS – class C shareholders (0.93 ) |
Share Options Outstanding (Tabl
Share Options Outstanding (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Employee Stock Option | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |
Summary of Share Options Outstanding | The following table summarises the average weighted life contractually remaining, average weighted fair value and average weighted exercise price of options granted, exercised, cancelled or modified during the six months ended December 31, 2022, under the Employee Share Scheme: Average Weighted Average Weighted Average No. of shares Balance at July 1, 2022 0.25 $ 6.19 1,328,758 Options granted Options exercised 0.00 $ 6.19 $ 3.64 657,303 Options cancelled 0.00 $ 6.19 7,332 Balance at December 31, 2022 (vested and exercisable) 0.00 $ 6.19 664,123 |
Loan Funded Share Plan [Member] | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |
Summary of Share Options Outstanding | The following table summarises the average weighted life contractually remaining, average weighted fair value and average weighted exercise price of options granted, exercised, cancelled or modified during the six months ended December 31, 2022, under the LFSP: Average Weighted Average Weighted Average No. of Balance at July 1, 2022 4.18 0.56 1.75 4,200,371 Options granted Options exercised 0.89 0.69 1.51 457,589 Options cancelled — — — — Balance at December 31, 2022 (vested and exercisable) 3.36 0.55 1.67 3,742,782 |
Long Term Incentive Plan [Member] | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |
Summary of Share Options Outstanding | The table below summarises the average weighted life contractually remaining, average weighted fair value and average weighted exercise price of options granted, exercised, cancelled or modified during the six months ended December 31, 2022, under the LTIP: Average Weighted Average Weighted Average No. of Balance at July 1, 2022 Options granted 1.71 $ 5.01 230,895 Options exercised Options cancelled Balance at December 31, 2022 (vested and exercisable) 1.21 $ 5.01 230,895 |
Fair Valuation of Share Based_2
Fair Valuation of Share Based Compensation (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Employee Stock Option | |
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items] | |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions | The weighted average fair value for share options that were outstanding (including issuances in the year) as at December 31, 2022 are as follows: Risk free interest rate 2.55 % Expected term 1 Grant date fair value per share $ 6.19 Share price $ 1.68 Aggregate intrinsic value of shares vested and not yet exercised $ 0 |
Loan Funded Share Plan | |
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items] | |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions | The weighted average fair value for share options that were outstanding (including issuances in the year) as at December 31, 2022 are as follows: Risk free interest rate 1.56 % Expected term 0.5 Expected volatility 60 % Dividend yield 0.00 Grant value fair value per share $ 1.19 Share price $ 1.68 Aggregate intrinsic value of shares vested and not yet exercised $ 2,956,798 |
Long Term Incentive Plan | |
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items] | |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions | The weighted average fair value for share options that were outstanding (including issuances in the year) as at December 31, 2022 are as follows: Risk free interest rate 4.27 % Expected term 1.71 Grant date fair value per share $ 5.01 Share price $ 1.68 Aggregate intrinsic value of shares vested and not yet exercised $ 0 |
Short Term Incentive Plan | |
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items] | |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions | The weighted average fair value for share options that were outstanding (including issuances in the year) as at December 31, 2022 are as follows: Risk free interest rate 3.93 % Expected term 1 Grant date fair value per share $ 1.68 Share price $ 1.68 Aggregate intrinsic value of shares vested and not yet exercised $ 0 |
Related Party Disclosures (Tabl
Related Party Disclosures (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions | The following presents the transactions that occurred with related parties along with balances receivable from/ payable to related parties: Accounts Accounts Loan June 30, 2022 Fast Cities Australia 16 — — St Baker Energy — 93 — Total 16 93 — December 31, 2022 Fast Cities Australia 183 — — St Baker Energy — — 28,649 Total 183 — 28,649 Hardware Purchases Other December 31, 2021 Gilbarco 8,135 338 — Fast Cities Australia 2,392 — — St Baker Energy — 125 — Palantir Technologies — 1,731 — Total 10,527 2,194 — December 31, 2022 Fast Cities Australia 1,588 — — Palantir Technologies — 2,135 — Nexport Pty Ltd — — 12 Total 1,588 2,135 12 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Stockholders' equity attributable to parent | $ (87,246) | $ (130,594) | $ (40,549) | $ (64,008) |
Net income (loss) attributable to parent | (56,271) | (68,138) | ||
Amount of cash inflow (outflow) from operating activities | 78,700 | $ 23,900 | ||
Sales backlog | 159,000 | |||
Government assistance amount | 0 | |||
Debt Facility [Member] | ||||
Debt instrument face value | $ 180,000 | |||
Sponsor [Member] | ||||
Stockholders' equity attributable to parent | $ (40,500) |
Revenue - Schedule of Disaggreg
Revenue - Schedule of Disaggregation of Revenue (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | $ 72,644 | $ 56,991 |
Hardware revenue – external parties [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 66,579 | 41,952 |
Hardware revenue – related parties [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 1,588 | 12,629 |
Service and maintenance revenue – external parties [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 4,376 | 2,405 |
Sale of software – external parties [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | $ 101 | $ 5 |
Selling, General and Administ_3
Selling, General and Administration Expenses - Schedule of Selling General and Administration Expenses (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Selling, General and Administrative Expense [Abstract] | ||
Equity settled share-based compensation expense | $ (5,435) | $ (12,019) |
Cash settled share-based compensation expense | (16,893) | |
Wages, salaries, and other employee benefits | (13,146) | (10,400) |
Depreciation expense | (658) | (669) |
IT and communications | (3,285) | (2,788) |
Occupancy | (1,721) | (1,599) |
Sales and marketing | (429) | (201) |
Insurance | (3,326) | (303) |
Professional fees | (6,731) | (1,583) |
Expected credit losses on trade receivables | (459) | 133 |
Bad debt expenses | (2) | |
Travel, meals, and accommodation expenses | (913) | (242) |
Other administration expenses | (334) | (227) |
Other operating expenses | (58) | |
Total selling, general and administration expenses | $ (36,437) | $ (46,851) |
Finance Costs - Schedule Of Fin
Finance Costs - Schedule Of Finance Costs (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Finance costs | ||
Interest on debt and borrowings (Note 10) | $ (12,242) | $ (10,891) |
Other finance costs | (3,229) | (690) |
Total finance costs | $ (15,471) | $ (11,581) |
Income Tax Expense - Summary Of
Income Tax Expense - Summary Of Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract] | ||
Tax at the statutory tax rate of 30% | $ (16,881) | $ (20,654) |
Tax effect amounts which are not deductible/(taxable) in calculating taxable income: | ||
Foreign tax rate differential | 1,081 | 484 |
Non-deductible items | 1,968 | 6,625 |
Impact of foreign exchange rates | (129) | 0 |
Current year tax losses and changes in valuation allowance | 13,961 | 13,545 |
Effective income tax | $ 0 | $ 0 |
Income Tax Expense - Summary _2
Income Tax Expense - Summary Of Effective Income Tax Rate Reconciliation (Parenthetical) (Detail) | 6 Months Ended |
Dec. 31, 2022 | |
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract] | |
Effective income tax rate reconciliation, statutory tax rate | 30% |
Income Tax Expense - Summary _3
Income Tax Expense - Summary Of Net Deferred Tax assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 | Jun. 30, 2021 |
Deferred tax assets | |||
Unused tax losses | $ 78,073 | $ 62,717 | |
Employee entitlements | 1,362 | 1,294 | |
Warranties | 1,659 | 1,571 | |
Lease liabilities | 7,791 | 8,871 | |
Other | 1,810 | 3,987 | |
Total deferred tax assets | 90,695 | 78,440 | |
Deferred tax liabilities | |||
Right of use assets | (6,055) | (7,392) | |
Total deferred tax liabilities | (6,055) | (7,392) | |
Valuation allowance applied | (84,640) | (71,048) | $ (44,584) |
Net deferred tax assets | $ 0 | $ 0 |
Income Tax Expense - Summary _4
Income Tax Expense - Summary Of Reconciliation Of Valuation Allowance (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Dec. 31, 2022 | Jun. 30, 2022 | |
Valuation Allowance [Abstract] | ||
Opening balance – July 1 | $ (71,048) | $ (44,584) |
(Increase) in deferred tax assets (excluding losses) | (13,592) | (25,901) |
(Increase) recorded to income tax provision | 0 | 0 |
Other movements including foreign currency and rate differential | 0 | (563) |
Valuation allowance on tax losses | $ (84,640) | $ (71,048) |
Income Tax Expense - Additional
Income Tax Expense - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Income Tax Disclosure [Abstract] | |||
Deferred tax assets operating loss carry forwards, foreign | $ 238,500 | $ 135,600 | |
Deferred tax assets operating loss carry forwards | 0 | $ 0 | |
Deferred tax assets, net | $ 0 | $ 0 |
Accounts Receivable, Net of A_3
Accounts Receivable, Net of Allowance for Expected Credit Losses - Summary Of Accounts Receivable (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 | Jun. 30, 2021 |
Receivables [Abstract] | |||
Trade receivables – external parties | $ 57,677 | $ 28,559 | |
Trade receivables – related parties | 183 | 16 | |
Total trade receivables | 57,860 | 28,575 | |
Less: Allowance for expected credit losses | (743) | (275) | $ (227) |
Sales tax receivable | 650 | 1,150 | |
Other receivables | 1,633 | 1,107 | |
Total accounts receivables – external parties | $ 59,400 | $ 30,557 |
Accounts Receivable, Net of A_4
Accounts Receivable, Net of Allowance for Expected Credit Losses - Summary Of Accounts Receivable Past Due (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 | Jun. 30, 2021 |
Accounts Receivable, Noncurrent, Past Due [Line Items] | |||
Carrying amount | $ 57,860 | $ 28,575 | |
Allowance for expected credit losses | (743) | $ (275) | $ (227) |
Less than 30 days past due | |||
Accounts Receivable, Noncurrent, Past Due [Line Items] | |||
Expected credit loss rate | 0% | ||
Carrying amount | 46,980 | $ 16,337 | |
Allowance for expected credit losses | $ 0 | ||
30 to 60 days past due | |||
Accounts Receivable, Noncurrent, Past Due [Line Items] | |||
Expected credit loss rate | 0% | ||
Carrying amount | 3,405 | $ 1,674 | |
Allowance for expected credit losses | $ 0 | ||
61 to 90 days past due | |||
Accounts Receivable, Noncurrent, Past Due [Line Items] | |||
Expected credit loss rate | 0% | ||
Carrying amount | $ 468 | $ 710 | |
Allowance for expected credit losses | $ 0 | ||
Greater than 90 days past due | |||
Accounts Receivable, Noncurrent, Past Due [Line Items] | |||
Expected credit loss rate | 10.60% | 2.80% | |
Carrying amount | $ 7,007 | $ 9,854 | |
Allowance for expected credit losses | $ (743) | $ (275) |
Accounts Receivable, Net of A_5
Accounts Receivable, Net of Allowance for Expected Credit Losses - Summary Of Allowance For Doubtful Accounts Receivable Reconciliation (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Dec. 31, 2022 | Jun. 30, 2022 | |
Allowance for Credit Loss [Abstract] | ||
Opening balance of provision – July 1 | $ (275) | $ (227) |
Provision created during the year | (458) | (255) |
Recoveries during the year | 0 | 171 |
Foreign currency translation movements | (10) | 36 |
Closing balance of provision – December 31 and June 30 | $ (743) | $ (275) |
Inventory - Schedule Of Invento
Inventory - Schedule Of Inventory (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 |
Inventory Disclosure [Abstract] | ||
Raw materials and consumables | $ 94,835 | $ 45,337 |
Work in progress | 5,769 | 4,561 |
Finished goods | 5,673 | 3,457 |
Stock in transit | 1,275 | 2,845 |
Inventory obsolescence provisions | (694) | (494) |
Total inventory | $ 106,858 | $ 55,706 |
Inventory - Additional Informat
Inventory - Additional Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2022 | |
Inventory Disclosure [Abstract] | |||
Inventory written down | $ 47,800 | $ 40,000 | |
Inventory obsolescence provisions | $ 694 | $ 494 |
Deposits - Schedule of Deposit
Deposits - Schedule of Deposit Current and Non Current (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 |
Current assets | ||
Term deposits held against bank guarantees | $ 3,705 | $ 3,796 |
Supplier deposits | 21,881 | 11,879 |
Total current deposits | $ 25,586 | $ 15,675 |
Accounts Payable - Summary of A
Accounts Payable - Summary of Accounts Payable (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 |
Current liabilities | ||
Trade and other payables | $ 97,242 | $ 38,887 |
Tax payables | 4,137 | 8,623 |
Related party payables | 0 | 93 |
Total accounts payable | $ 101,379 | $ 47,603 |
Borrowings - Schedule Of Debt (
Borrowings - Schedule Of Debt (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 | Jun. 30, 2021 |
Current liabilities | |||
Interest-bearing borrowings – external parties | $ 901 | $ 0 | |
Interest-bearing borrowings – related parties | 19,661 | 0 | |
Credit card liability | 3 | 74 | |
Current liabilities | 20,565 | 74 | |
Non-current liabilities | |||
Interest-bearing borrowings – external parties | 135,873 | 88,269 | |
Interest-bearing borrowings – related parties | 8,988 | 0 | |
Total borrowings | $ 165,426 | $ 88,343 | $ 80,332 |
Borrowings - Schedule of Tabul
Borrowings - Schedule of Tabular Form Of Movements In Long Term Debt (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Dec. 31, 2022 | Jun. 30, 2022 | |
Schedule Of Debt [Line Items] | ||
Opening Balance | $ 88,343 | $ 80,332 |
Drawdowns of facilities | 180,000 | 117,527 |
Transaction costs paid | (16,496) | (3,888) |
Repayment of borrowings (inclusive of prepayment fee) | (92,929) | (72,407) |
Accrued Interest | 6,942 | 12,761 |
Conversion of convertible notes | 0 | (42,570) |
Credit card borrowings | (70) | 49 |
Foreign currency translations movements | (364) | (3,461) |
Closing Balance | $ 165,426 | $ 88,343 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) $ in Thousands | 6 Months Ended | 12 Months Ended | |||
Dec. 23, 2022 USD ($) | Nov. 18, 2022 USD ($) | Dec. 31, 2022 USD ($) | Jun. 30, 2022 USD ($) | Sep. 02, 2022 USD ($) | |
Debt Instrument [Line Items] | |||||
Proceeds from related party debt | $ 30,000 | ||||
minimum liquidity balance | $ 25,000 | ||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | As Of Thirty First March Two Thousand And Twenty Four [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt equity ratio | 8 | ||||
Debt Instrument Interest Coverage Ratio | 1 | ||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | As Of Thirtieth June Two Thousand And Twenty Four [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt equity ratio | 5 | ||||
Debt Instrument Interest Coverage Ratio | 1.5 | ||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | As Of Thirtieth September Two Thousand And Twenty four [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt equity ratio | 4 | ||||
Debt Instrument Interest Coverage Ratio | 1.75 | ||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | As Of Thirty First December Two Thousand And Twenty Four [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt equity ratio | 3.5 | ||||
Debt Instrument Interest Coverage Ratio | 2 | ||||
Senior Notes [Member] | CIGNA Loan Agreement [Member] | CIGNA Loan Amendment Agreement One [Member] | As Of Thirty First March Two Thousand And Twenty Five and Thereafter [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt equity ratio | 2.5 | ||||
Debt Instrument Interest Coverage Ratio | 3 | ||||
Senior Debt Obligations [Member] | Cigna And Barrings [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument face value | $ 90,000 | ||||
Senior Debt Obligations [Member] | First Amendment [Member] | Cigna And Barrings [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument face value | $ 60,000 | ||||
Senior Debt Obligations [Member] | First Amendment [Member] | Cigna And Barrings [Member] | Revised Total Facility After Amendment [Member] | |||||
Debt Instrument [Line Items] | |||||
Long term debt term | 3 years | ||||
Senior Debt Obligations [Member] | First Amendment [Member] | Cigna And Barrings [Member] | Additional Debt Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument face value | $ 150,000 | ||||
Senior Debt Obligations And Equity Facility [Member] | First Amendment [Member] | Cigna And Barrings [Member] | Revised Total Facility After Amendment [Member] | |||||
Debt Instrument [Line Items] | |||||
Cash coupon payable percentage rate | 8.50% | ||||
NAB Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,800 | ||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 2,400 | ||||
Line of Credit Facility, Interest Rate During Period | 100% | ||||
St Bakers Energy Holdings Pty Limited [Member] | Shareholder Loan Agreement [Member] | |||||
Debt Instrument [Line Items] | |||||
Related party transaction coupon rate of interest | 8.50% | ||||
Sunset Power Pty Ltd ("Sunset Power") | Accordion Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Proceeds from related party debt | $ 10,000 | ||||
Sunset Power Pty Ltd ("Sunset Power") | Working capital facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Related party transaction coupon rate of interest | 9.50% | ||||
working capital facility | $ 20,000 | ||||
Commitment Fee Percentage | 2% |
Warrants - Summary Of Assets An
Warrants - Summary Of Assets And Liabilities That Were Measured At Fair Value On A Recurring Basis (Detail) - Fair Value, Recurring [Member] - Warrant [Member] $ in Thousands | Dec. 31, 2022 USD ($) |
Class of Warrant or Right [Line Items] | |
Fair value measured | $ 10,050 |
Level 1 | |
Class of Warrant or Right [Line Items] | |
Fair value measured | 2,645 |
Level 2 | |
Class of Warrant or Right [Line Items] | |
Fair value measured | 7,406 |
Public warrant liabilities [Member] | |
Class of Warrant or Right [Line Items] | |
Fair value measured | 2,645 |
Public warrant liabilities [Member] | Level 1 | |
Class of Warrant or Right [Line Items] | |
Fair value measured | 2,645 |
Private warrant liabilities [Member] | |
Class of Warrant or Right [Line Items] | |
Fair value measured | 71 |
Private warrant liabilities [Member] | Level 2 | |
Class of Warrant or Right [Line Items] | |
Fair value measured | 71 |
Other warrant liabilities [Member] | |
Class of Warrant or Right [Line Items] | |
Fair value measured | 7,335 |
Other warrant liabilities [Member] | Level 2 | |
Class of Warrant or Right [Line Items] | |
Fair value measured | $ 7,335 |
Warrants - Summary Of Changes I
Warrants - Summary Of Changes In The Fair Value (Detail) $ in Thousands | 6 Months Ended |
Dec. 31, 2022 USD ($) shares | |
Class of Warrant or Right [Line Items] | |
Beginning balance Shares | shares | 9,278,277 |
Beginning balance | $ 12,340 |
Warrants issued shares | shares | 2,166,229 |
Warrants issued | $ 10,355 |
Warrants exercised and equity issued shares | shares | (641,965) |
Warrants exercised and equity issued | $ (3,043) |
Change in fair value | (9,602) |
Ending balance | $ 10,050 |
Ending balance shares | shares | 10,802,541 |
Public Warrants [Member] | |
Class of Warrant or Right [Line Items] | |
Beginning balance Shares | shares | 9,037,130 |
Beginning balance | $ 12,019 |
Warrants exercised and equity issued shares | shares | (10,146) |
Warrants exercised and equity issued | $ (18) |
Change in fair value | (9,356) |
Ending balance | $ 2,645 |
Ending balance shares | shares | 9,026,984 |
Private Warrants [Member] | |
Class of Warrant or Right [Line Items] | |
Beginning balance Shares | shares | 241,147 |
Beginning balance | $ 321 |
Change in fair value | (250) |
Ending balance | $ 71 |
Ending balance shares | shares | 241,147 |
Other warrant liabilities [Member] | |
Class of Warrant or Right [Line Items] | |
Beginning balance Shares | shares | 0 |
Beginning balance | $ 0 |
Warrants issued shares | shares | 2,166,229 |
Warrants issued | $ 10,355 |
Warrants exercised and equity issued shares | shares | (631,819) |
Warrants exercised and equity issued | $ (3,025) |
Change in fair value | 5 |
Ending balance | $ 7,335 |
Ending balance shares | shares | 1,534,410 |
Warrants - Additional informati
Warrants - Additional information (Detail) | 6 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Class of Warrant or Right [Line Items] | |
Class Of Warrant Or Right Issued | shares | 2,166,229 |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.0001 |
Maximum [Member] | Afiliates [Member] | |
Class of Warrant or Right [Line Items] | |
Equity Method Investment, Ownership Percentage | 20% |
Minimum [Member] | Afiliates [Member] | |
Class of Warrant or Right [Line Items] | |
Equity Method Investment, Ownership Percentage | 10% |
Contract Liabilities - Summary
Contract Liabilities - Summary of Contract With Customer Liability (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 |
Current liabilities | ||
Contract with customer, liability, current | $ 70,017 | $ 37,727 |
Non-current liabilities | ||
Contract with customer, liability, noncurrent | 2,776 | 2,231 |
Total contract liabilities | 72,793 | 39,958 |
Customer advance deposits [Member] | ||
Current liabilities | ||
Contract with customer, liability, current | 65,217 | 33,508 |
Non-current liabilities | ||
Contract with customer, liability, noncurrent | 1,357 | 847 |
Unearned revenue [Member] | ||
Current liabilities | ||
Contract with customer, liability, current | 4,800 | 4,219 |
Non-current liabilities | ||
Contract with customer, liability, noncurrent | $ 1,419 | $ 1,384 |
Segment Reporting - Summary of
Segment Reporting - Summary of Revenue by Group's Reportable Segments (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Segment Reporting Information [Line Items] | ||
Revenue | $ 72,644 | $ 56,991 |
Cost of goods sold | (79,689) | (53,457) |
Net (loss) | (7,045) | 3,534 |
Hardware | ||
Segment Reporting Information [Line Items] | ||
Revenue | 68,167 | 54,581 |
Cost of goods sold | (77,919) | (51,495) |
Net (loss) | (9,752) | 3,086 |
Service And Maintenance | ||
Segment Reporting Information [Line Items] | ||
Revenue | 4,376 | 2,405 |
Cost of goods sold | (1,770) | (1,962) |
Net (loss) | 2,606 | 443 |
Software Revenue | ||
Segment Reporting Information [Line Items] | ||
Revenue | 101 | 5 |
Cost of goods sold | 0 | 0 |
Net (loss) | 101 | 5 |
Stand Alone | Hardware | ||
Segment Reporting Information [Line Items] | ||
Revenue | 47,576 | 36,498 |
Cost of goods sold | (53,264) | (34,033) |
Net (loss) | (5,688) | 2,465 |
Distributed Chargers | Hardware | ||
Segment Reporting Information [Line Items] | ||
Revenue | 18,408 | 17,732 |
Cost of goods sold | (21,729) | (17,260) |
Net (loss) | (3,321) | 472 |
Other | Hardware | ||
Segment Reporting Information [Line Items] | ||
Revenue | 2,183 | 351 |
Cost of goods sold | (2,926) | (202) |
Net (loss) | $ (743) | $ 149 |
Segment Reporting - Summary o_2
Segment Reporting - Summary of Reconciliation of Loss from Operations and Segment Gross Margin (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
Revenue | $ 72,644 | $ 56,991 |
Cost of goods sold | (79,689) | (53,457) |
Segment gross (loss) | (7,045) | 3,534 |
Selling, general and administration expense | 36,437 | 46,851 |
Product development expense | 7,114 | 6,521 |
Foreign currency (gain)/loss | 102 | 152 |
Loss from operations | $ (50,494) | $ (49,686) |
Segment gross margin | (9.70%) | 6.20% |
Segment Reconciling Items [Member] | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
Revenue | $ 72,644 | $ 56,991 |
Cost of goods sold | (79,689) | (53,457) |
Segment gross (loss) | (7,045) | 3,534 |
Selling, general and administration expense | (36,437) | (46,851) |
Product development expense | (7,114) | (6,521) |
Foreign currency (gain)/loss | 102 | 152 |
Loss from operations | $ (50,494) | $ (49,686) |
Segment Reporting - Summary o_3
Segment Reporting - Summary of Revenue and Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands | 6 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2022 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue | $ 72,644 | $ 56,991 | |
Long-lived assets | 35,214 | $ 35,791 | |
Australia | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue | 9,876 | 5,745 | |
Long-lived assets | 17,721 | 18,709 | |
United States | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue | 26,521 | 25,134 | |
Long-lived assets | 16,900 | 16,290 | |
The Netherlands | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue | 36,247 | $ 26,112 | |
Long-lived assets | $ 593 | $ 792 |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2022 Segments | |
Segment Reporting Information [Line Items] | |||
Revenues | $ 72,644 | $ 56,991 | |
Number of operating segments | Segments | 7 | ||
Revenue Benchmark | Customer Concentration Risk | One Customer | |||
Segment Reporting Information [Line Items] | |||
Revenues | $ 11,200 | $ 8,200 | |
Concentration risk percentage | 15% | 14% |
Loss Per Share - Schedule of Ea
Loss Per Share - Schedule of Earnings Per Share, Basic and Diluted (Detail) - USD ($) | 6 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Basic and diluted loss per share | ||
Net (loss) attributable to common shareholders | $ (56,271,000) | $ (68,137,947) |
Weighted Average Number of Shares Outstanding, Basic [Abstract] | ||
Weighted average number of shares – Basic | 153,454,231 | 99,915,539 |
Weighted average number of shares – Diluted | 153,454,231 | 99,915,539 |
Basic net loss per share | $ (0.37) | $ (0.63) |
Diluted net loss per share | $ (0.37) | $ (0.63) |
Legacy Tritium Class C Shares [Member] | ||
Weighted Average Number of Shares Outstanding, Basic [Abstract] | ||
Weighted average number of shares – Basic | 0 | 8,047,417 |
Weighted average number of shares – Diluted | 0 | 8,047,417 |
Basic net loss per share | $ 0 | $ (0.63) |
Diluted net loss per share | $ 0 | $ (0.63) |
Common Stock [Member] | ||
Weighted Average Number of Shares Outstanding, Basic [Abstract] | ||
Weighted average number of shares – Basic | 153,454,231 | 99,915,539 |
Weighted average number of shares – Diluted | 153,454,231 | 99,915,539 |
Basic net loss per share | $ (0.37) | $ (0.63) |
Diluted net loss per share | $ (0.37) | $ (0.63) |
Previously Reported | ||
Basic and diluted loss per share | ||
Net (loss) attributable to common shareholders | $ (63,059,034) | |
Weighted Average Number of Shares Outstanding, Basic [Abstract] | ||
Weighted average number of shares – Basic | 67,892,971 | |
Weighted average number of shares – Diluted | 67,892,971 | |
Basic net loss per share | $ (0.93) | |
Diluted net loss per share | $ (0.93) | |
Previously Reported | Legacy Tritium Class C Shares [Member] | ||
Basic and diluted loss per share | ||
Net (loss) attributable to common shareholders | $ (5,078,913) | |
Weighted Average Number of Shares Outstanding, Basic [Abstract] | ||
Weighted average number of shares – Basic | 5,468,249 | |
Weighted average number of shares – Diluted | 5,468,249 | |
Basic net loss per share | $ (0.93) | |
Diluted net loss per share | $ (0.93) |
Loss Per Share - Additional Inf
Loss Per Share - Additional Information (Detail) | Jan. 13, 2022 |
Earnings Per Share [Abstract] | |
Merger Agreement Share Conversion Ratio | 1.4716625 |
Share Options Outstanding - Sum
Share Options Outstanding - Summary Of Share Options Outstanding (Detail) | 6 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Long Term Incentive Plan | |
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | |
Average weighted life contractually remaining, options granted | 1 year 8 months 15 days |
Average weighted life contractually remaining, ending balance (vested and exercisable) | 1 year 2 months 15 days |
Average weighted fair value, ending balance (vested and exercisable) | $ 5.01 |
Average weighted fair value, options granted | $ 5.01 |
Number of shares, options granted | shares | 230,895 |
Number of shares, ending balance (vested and exercisable) | shares | 230,895 |
Loan Funded Share Plan | |
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | |
Average weighted life contractually remaining | 4 years 2 months 4 days |
Average weighted life contractually remaining, options exercised | 10 months 20 days |
Average weighted life contractually remaining, ending balance (vested and exercisable) | 3 years 4 months 9 days |
Average weighted fair value, beginning balance of shares subject to options | $ 0.56 |
Average weighted fair value, ending balance (vested and exercisable) | 0.55 |
Average weighted fair value, options exercised | 0.69 |
Average weighted exercise price, beginning balance | 1.75 |
Average weighted exercise price, ending balance (vested and exercisable) | 1.67 |
Average weighted exercise price, options excercised | $ 1.51 |
Number of shares, beginning balance of shares subject to options | shares | 4,200,371 |
Number of shares, optons excercised | shares | 457,589 |
Number of shares, ending balance (vested and exercisable) | shares | 3,742,782 |
Employee Share Scheme | |
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | |
Average weighted life contractually remaining | 3 months |
Average weighted life contractually remaining, options exercised | 0 years |
Average weighted life contractually remaining, options cancelled | 0 years |
Average weighted life contractually remaining, ending balance (vested and exercisable) | 0 years |
Average weighted fair value, beginning balance of shares subject to options | $ 6.19 |
Average weighted fair value, ending balance (vested and exercisable) | 6.19 |
Average weighted fair value, options exercised | 6.19 |
Average weighted fair value, options cancelled | 6.19 |
Average weighted exercise price, options excercised | $ 3.64 |
Number of shares, beginning balance of shares subject to options | shares | 1,328,758 |
Number of shares, optons excercised | shares | 657,303 |
Number of shares, options cancelled | shares | 7,332 |
Number of shares, ending balance (vested and exercisable) | shares | 664,123 |
Share Options Outstanding - Add
Share Options Outstanding - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||
Equity settled share-based compensation expense | $ 5,435 | $ 12,019 |
Loan Funded Share Plan [Member] | ||
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||
Share-based payment arrangement, nonvested award, cost not yet recognized, amount | $ 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.19 | |
Short Term Incentive Plan | ||
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||
Equity settled share-based compensation expense | $ 0 | 490,545 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.68 | |
Long Term Incentive Plan | ||
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||
Equity settled share-based compensation expense | $ 1,423,050 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 5.01 | |
Employee Share Scheme | ||
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||
Equity settled share-based compensation expense | $ 3,521,003 | $ 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 6.19 | |
Limited Recourse Loans Payable [Member] | Long Term Incentive Plan | ||
Schedule Of Share Based Compensation Stock Options Activity [Line Items] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.68 |
Fair Valuation of Share Based_3
Fair Valuation of Share Based Compensation - Summary Of Weighted Average Fair Value For Share Options Outstanding (Detail) | 6 Months Ended |
Dec. 31, 2022 USD ($) $ / shares | |
Loan Funded Share Plan | |
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items] | |
Risk free interest rate | 1.56% |
Expected term | 6 months |
Expected volatility | 60% |
Dividend yield | 0% |
Grant value fair value per share | $ 1.19 |
Share price | $ 1.68 |
Aggregate intrinsic value of shares vested and not yet exercised (USD) | $ | $ 2,956,798 |
Employee Share Scheme | |
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items] | |
Risk free interest rate | 2.55% |
Expected term | 1 year |
Grant value fair value per share | $ 6.19 |
Share price | $ 1.68 |
Aggregate intrinsic value of shares vested and not yet exercised (USD) | $ | $ 0 |
Long Term Incentive Plan | |
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items] | |
Risk free interest rate | 4.27% |
Expected term | 1 year 8 months 15 days |
Grant value fair value per share | $ 5.01 |
Share price | $ 1.68 |
Aggregate intrinsic value of shares vested and not yet exercised (USD) | $ | $ 0 |
Short Term Incentive Plan | |
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items] | |
Risk free interest rate | 3.93% |
Expected term | 1 year |
Grant value fair value per share | $ 1.68 |
Share price | $ 1.68 |
Aggregate intrinsic value of shares vested and not yet exercised (USD) | $ | $ 0 |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 |
Commitments and Contingencies Disclosure [Abstract] | ||
Business combination, contingent consideration, liability | $ 0 | $ 0 |
Contractual obligation | $ 0 | $ 0 |
Share Capital - Additional info
Share Capital - Additional information (Detail) - B. Riley Principal Capital II [Member] | 6 Months Ended |
Dec. 31, 2022 USD ($) | |
Class of Stock [Line Items] | |
Aggregate offering | $ 75,000,000 |
Share issue costs | $ 800,000 |
Related Party Disclosures -Summ
Related Party Disclosures -Summary Of Related Party Transactions (Detail) - USD ($) $ in Thousands | 6 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2022 | |
Related Party Transaction [Line Items] | |||
Accounts receivable | $ 183 | $ 16 | |
Loan payable | 0 | 93 | |
Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Accounts receivable | 183 | 16 | |
Purchase | 2,135 | $ 2,194 | |
Accounts payable | 0 | 93 | |
Loan payable | 28,649 | 0 | |
Associated Shareholders | Other Income | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 12 | 0 | |
Gilbarco | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Purchase | 338 | ||
Gilbarco | Associated Shareholders | Other Income | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 0 | ||
Fast Cities Australia | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Accounts receivable | 183 | 16 | |
Purchase | 0 | 0 | |
Accounts payable | 0 | 0 | |
Loan payable | 0 | 0 | |
Fast Cities Australia | Associated Shareholders | Other Income | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 0 | 0 | |
St Baker Energy | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Accounts receivable | 0 | 0 | |
Purchase | 125 | ||
Accounts payable | 0 | 93 | |
Loan payable | 28,649 | $ 0 | |
St Baker Energy | Associated Shareholders | Other Income | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 0 | ||
Palantir Technologies | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Purchase | 2,135 | 1,731 | |
Palantir Technologies | Associated Shareholders | Other Income | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 0 | 0 | |
Nexport Pty Ltd | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Purchase | 0 | ||
Nexport Pty Ltd | Associated Shareholders | Other Income | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 12 | ||
Hardware | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 1,588 | 10,527 | |
Hardware | Gilbarco | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 8,135 | ||
Hardware | Fast Cities Australia | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 1,588 | 2,392 | |
Hardware | St Baker Energy | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 0 | ||
Hardware | Palantir Technologies | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | 0 | $ 0 | |
Hardware | Nexport Pty Ltd | Associated Shareholders | |||
Related Party Transaction [Line Items] | |||
Hardware revenue | $ 0 |
Related Party Disclosures - Add
Related Party Disclosures - Additional Information (Detail) $ in Millions | 6 Months Ended |
Dec. 31, 2022 USD ($) | |
Fast Cities Australia | |
Related Party Transaction [Line Items] | |
Accounts receivable due, payable period | 30 days |
Palantir Technologies | |
Related Party Transaction [Line Items] | |
Long-term purchase commitment, amount | $ 21 |