10-Q Filing

PERIMETER SOLUTIONS, INC. CIK: 1880319 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001880319-23-000077`
Period End Date	20230331
Filing Date	20230510
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	prm-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 46 Cash Flow Statement 78 Stockholders Equity 26

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	4.00B	shares	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	4.00B	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	163.23M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	165.07M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	156.80M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	158.51M	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockCommonShares`	6.55M	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockCommonShares`	6.44M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$91.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$126.75M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$24.71M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$26.65M	USD	Point-in-time
Inventories	`InventoryNet`	$156.26M	USD	Point-in-time
Inventories	`InventoryNet`	$142.96M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$1.58M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$214.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.95M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.63M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$308.52M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$285.97M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$58.85M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$59.22M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$18.58M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$17.27M	USD	Point-in-time
Goodwill	`Goodwill`	$1.03B	USD	Point-in-time
Goodwill	`Goodwill`	$1.03B	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.02B	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.04B	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.65M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.77M	USD	Point-in-time
Total assets	`Assets`	$2.46B	USD	Point-in-time
Total assets	`Assets`	$2.42B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$25.95M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$32.70M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$35.94M	USD	Point-in-time
Founders advisory fees payable - related party	`DueToRelatedPartiesCurrent`	$9.11M	USD	Point-in-time
Founders advisory fees payable - related party	`DueToRelatedPartiesCurrent`	$4.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$70.99M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$74.15M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$665.28M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$665.58M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$14.50M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$15.48M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$278.27M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$272.16M	USD	Point-in-time
Founders advisory fees payable - related party	`DueToRelatedPartiesNoncurrent`	$170.72M	USD	Point-in-time
Founders advisory fees payable - related party	`DueToRelatedPartiesNoncurrent`	$137.37M	USD	Point-in-time
Redeemable preferred shares	`SharesSubjectToMandatoryRedemptionSettlementTermsAmountNoncurrent`	$101.28M	USD	Point-in-time
Redeemable preferred shares	`SharesSubjectToMandatoryRedemptionSettlementTermsAmountNoncurrent`	$102.70M	USD	Point-in-time
Redeemable preferred shares - related party	`DueToRelatedPartiesFinancialInstrumentsSubjectToMandatoryRedemptionSettlementTermsShareValueAmountNoncurrent`	$2.81M	USD	Point-in-time
Redeemable preferred shares - related party	`DueToRelatedPartiesFinancialInstrumentsSubjectToMandatoryRedemptionSettlementTermsShareValueAmountNoncurrent`	$3.21M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$9.32M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$9.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.28B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.32B	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Ordinary shares, $1 nominal value per share, 4,000,000,000 shares authorized; 165,066,195 and 163,234,542 shares issued; 158,513,889 and 156,797,806 shares outstanding at March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$163.24M	USD	Point-in-time
Ordinary shares, $1 nominal value per share, 4,000,000,000 shares authorized; 165,066,195 and 163,234,542 shares issued; 158,513,889 and 156,797,806 shares outstanding at March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$165.07M	USD	Point-in-time
Treasury shares, at cost; 6,552,306 and 6,436,736 shares at March 31, 2023 and December 31, 2022, respectively	`TreasuryStockCommonValue`	$49.34M	USD	Point-in-time
Treasury shares, at cost; 6,552,306 and 6,436,736 shares at March 31, 2023 and December 31, 2022, respectively	`TreasuryStockCommonValue`	$50.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.70B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.69B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-25.47M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-23.88M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-648.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-638.87M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$1.14B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$1.15B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$1.14B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$1.08B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$2.46B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$2.42B	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$57.76M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$43.86M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$41.34M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$31.01M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.85M	USD	1 Quarter
Gross profit	`GrossProfit`	$16.41M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$10.46M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$19.15M	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	$13.76M	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	$13.86M	USD	1 Quarter
Founders advisory fees - related party	`ProfessionalFeesFairValueAdjustment`	$24.24M	USD	1 Quarter
Founders advisory fees - related party	`ProfessionalFeesFairValueAdjustment`	$59.85M	USD	1 Quarter
Other operating expense	`OtherCostAndExpenseOperating`	$196.00K	USD	1 Quarter
Other operating expense	`OtherCostAndExpenseOperating`	$2.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$-6.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$-26.64M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$12.85M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$43.06M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$10.50M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$10.15M	USD	1 Quarter
Loss on contingent earn-out	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$246.00K	USD	1 Quarter
Loss on contingent earn-out	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	-	USD	1 Quarter
Unrealized foreign currency (gain) loss	`ForeignCurrencyTransactionGainLossUnrealized`	$721.00K	USD	1 Quarter
Unrealized foreign currency (gain) loss	`ForeignCurrencyTransactionGainLossUnrealized`	$-880.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-165.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-72.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-9.74M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-11.54M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$31.52M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.11M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-5.45M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-6.32M	USD	1 Quarter
Net income	`NetIncomeLoss`	$36.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.43M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$126.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.59M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$37.09M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$11.02M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.23	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.21	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	157.70M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	160.25M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	169.49M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	174.78M	shares	1 Quarter

Cash Flow Statement 78 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$36.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.43M	USD	1 Quarter
Founders advisory fees - related party (change in accounting fair value)	`IncreaseDecreaseInDueToRelatedPartiesChangeInFairValue`	$-24.24M	USD	1 Quarter
Founders advisory fees - related party (change in accounting fair value)	`IncreaseDecreaseInDueToRelatedPartiesChangeInFairValue`	$-59.85M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$16.37M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$16.09M	USD	1 Quarter
Interest and payment-in-kind on preferred shares	`PaidInKindInterest`	$1.63M	USD	1 Quarter
Interest and payment-in-kind on preferred shares	`PaidInKindInterest`	$1.70M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$-3.07M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$4.96M	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$1.31M	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$1.15M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-6.32M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$843.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$395.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$410.00K	USD	1 Quarter
Amortization of acquisition related inventory step-up	`AmortizationOfAcquisitionRelatedInventory`	$6.12M	USD	1 Quarter
Amortization of acquisition related inventory step-up	`AmortizationOfAcquisitionRelatedInventory`	-	USD	1 Quarter
Loss on contingent earn-out	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$246.00K	USD	1 Quarter
Loss on contingent earn-out	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	-	USD	1 Quarter
Unrealized (gain) loss on foreign currency	`ForeignCurrencyTransactionGainLossUnrealized`	$721.00K	USD	1 Quarter
Unrealized (gain) loss on foreign currency	`ForeignCurrencyTransactionGainLossUnrealized`	$-880.00K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-5.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.67M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.80M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$13.12M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$16.78M	USD	1 Quarter
Prepaid expenses and current other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-4.16M	USD	1 Quarter
Prepaid expenses and current other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-360.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-599.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-6.14M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-10.88M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$372.00K	USD	1 Quarter
Income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-7.38M	USD	1 Quarter
Income taxes payable, net	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-6.23M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherLiabilities`	$8.79M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherLiabilities`	$8.09M	USD	1 Quarter
Founders advisory fees - related party (cash settled)	`IncreaseDecreaseInDueToRelatedPartiesSettledInCash`	$-4.66M	USD	1 Quarter
Founders advisory fees - related party (cash settled)	`IncreaseDecreaseInDueToRelatedPartiesSettledInCash`	$-53.55M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-1.24M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-1.17M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-15.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$94.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-70.90M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-31.62M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.46M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.31M	USD	1 Quarter
Purchase price adjustment under Business Combination Agreement	`PaymentsForPreviousAcquisition`	$1.64M	USD	1 Quarter
Purchase price adjustment under Business Combination Agreement	`PaymentsForPreviousAcquisition`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.46M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.95M	USD	1 Quarter
Ordinary shares repurchased	`PaymentsForRepurchaseOfCommonStock`	$864.00K	USD	1 Quarter
Ordinary shares repurchased	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$529.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$529.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-864.00K	USD	1 Quarter
Effect of foreign currency on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.31M	USD	1 Quarter
Effect of foreign currency on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-25.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-34.96M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-72.01M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$91.79M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$126.75M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$153.54M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$225.55M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$91.79M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$126.75M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$153.54M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$225.55M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$142.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$145.00K	USD	1 Quarter
Cash paid (received) for income taxes	`IncomeTaxesPaidNet`	$-17.00K	USD	1 Quarter
Cash paid (received) for income taxes	`IncomeTaxesPaidNet`	$10.15M	USD	1 Quarter
Liability portion of founders advisory fees - related party reclassified to additional paid in capital	`MandatoryRedeemableInstrumentsIssued`	$13.78M	USD	1 Quarter
Liability portion of founders advisory fees - related party reclassified to additional paid in capital	`MandatoryRedeemableInstrumentsIssued`	-	USD	1 Quarter

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Beginning balance (in shares)	`CommonStockSharesOutstanding`	156.80M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	158.51M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$1.14B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.15B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.14B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.08B	USD	Point-in-time
Beginning balance (in shares)	`TreasuryStockCommonShares`	6.55M	shares	Point-in-time
Beginning balance (in shares)	`TreasuryStockCommonShares`	6.44M	shares	Point-in-time
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$-3.07M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.96M	USD	1 Quarter
Ordinary shares issued related to founders advisory fees - related party	`StockGrantedDuringPeriodValueSharebasedCompensation`	$13.78M	USD	1 Quarter
Ordinary shares issued related to founders advisory fees - related party	`StockGrantedDuringPeriodValueSharebasedCompensation`	-	USD	1 Quarter
Ordinary shares issued related to warrants exercised	`StockIssuedDuringPeriodValueWarrantsExercised`	$529.00K	USD	1 Quarter
Ordinary shares repurchased	`TreasuryStockValueAcquiredCostMethod`	$864.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$36.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.43M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.59M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$126.00K	USD	1 Quarter
Ending balance (in shares)	`CommonStockSharesOutstanding`	156.80M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	158.51M	shares	Point-in-time
Ending balance	`StockholdersEquity`	$1.14B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.15B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.14B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.08B	USD	Point-in-time
Ending balance (in shares)	`TreasuryStockCommonShares`	6.55M	shares	Point-in-time
Ending balance (in shares)	`TreasuryStockCommonShares`	6.44M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.