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| (in thousands, except per share data) | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||
| 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Revenue from sales of products | $ 583 | $ 7,625 | $ 11,038 | $ 17,428 | |||||||||||||||||||
Revenue from sales of services | 19 | 426 | 99 | 1,205 | |||||||||||||||||||
| Other revenue | 63 | 170 | 506 | 310 | |||||||||||||||||||
| Total revenue | 665 | 8,221 | 11,643 | 18,943 | |||||||||||||||||||
Cost of revenue from sales of products | 1,047 | 8,712 | 11,841 | 17,834 | |||||||||||||||||||
Cost of revenue from sales of services | 255 | 110 | 451 | 829 | |||||||||||||||||||
| Cost of other revenue | 816 | 56 | 1,639 | 198 | |||||||||||||||||||
| Total cost of revenue | 2,118 | 8,878 | 13,931 | 18,861 | |||||||||||||||||||
| Gross (loss) profit | (1,453) | (657) | (2,288) | 82 | |||||||||||||||||||
| Operating expenses: | |||||||||||||||||||||||
| Selling, general and administrative expenses | 8,146 | 31,024 | 69,830 | 91,604 | |||||||||||||||||||
| Research and development expense | 1,540 | 830 | 9,563 | 2,420 | |||||||||||||||||||
| Asset impairments | 104,386 | 298 | 142,370 | 699 | |||||||||||||||||||
| Goodwill impairments | 10,712 | — | 10,712 | — | |||||||||||||||||||
| Depreciation and amortization | 5,635 | 1,652 | 15,399 | 4,011 | |||||||||||||||||||
| Change in fair value of contingent consideration, net | (61,469) | — | (74,416) | (131) | |||||||||||||||||||
| Other general expenses | (261) | — | 89 | — | |||||||||||||||||||
| Total operating expenses | 68,689 | 33,804 | 173,547 | 98,603 | |||||||||||||||||||
| Loss from operations | (70,142) | (34,461) | (175,835) | (98,521) | |||||||||||||||||||
| Interest and other income (expense): | |||||||||||||||||||||||
| Interest income | — | 941 | 401 | 2,522 | |||||||||||||||||||
| Interest expense | (1,366) | (222) | (2,636) | (1,256) | |||||||||||||||||||
| Gain on remeasurement of investment | — | — | — | 10,965 | |||||||||||||||||||
| Loss on disposal of investment | (1,153) | (30) | (1,153) | (218) | |||||||||||||||||||
| Other income, net | 9,560 | 567 | 11,598 | 1,143 | |||||||||||||||||||
| Loss before income taxes | (63,101) | (33,205) | (167,625) | (85,365) | |||||||||||||||||||
| Income tax benefit | 876 | 312 | 4,258 | 742 | |||||||||||||||||||
| Impairment of and equity in loss of equity method investees | — | (429) | — | (2,357) | |||||||||||||||||||
| Net loss from continuing operations | (62,225) | (33,322) | (163,367) | (86,980) | |||||||||||||||||||
| Net loss from discontinued operations, net of tax | (2,368) | (5,531) | (24,206) | (20,237) | |||||||||||||||||||
| Net loss | (64,593) | (38,853) | (187,573) | (107,217) | |||||||||||||||||||
| Net loss attributable to non-controlling interest | 1,586 | 1,439 | 4,753 | 3,525 | |||||||||||||||||||
| Net loss attributable to Ideanomics, Inc. common shareholders | $ (63,007) | $ (37,414) | $ (182,820) | $ (103,692) | |||||||||||||||||||
| Basic and diluted loss per share from continuing operations | $ (5.19) | $ (8.07) | $ (17.07) | $ (21.02) | |||||||||||||||||||
| Basic and diluted loss per share from discontinued operations | $ (0.20) | $ (1.40) | $ (2.61) | $ (5.10) | |||||||||||||||||||
| Basic and diluted loss per share | $ (5.39) | $ (9.47) | $ (19.68) | $ (26.11) | |||||||||||||||||||
| Weighted average shares outstanding: | |||||||||||||||||||||||
| Basic and diluted | 11,692,394 | 3,952,490 | 9,291,974 | 3,971,139 | |||||||||||||||||||
(in thousands, except share and per share data) | September 30, 2023 | December 31, 2022 | |||||||||
| (Unaudited) | |||||||||||
| ASSETS | |||||||||||
| Current assets | |||||||||||
| Cash and cash equivalents | $ 1,884 | $ 3,245 | |||||||||
| Accounts receivable, net | 3,066 | 4,269 | |||||||||
| Contract assets | 1,926 | 3,579 | |||||||||
| Amount due from related parties | 90 | 90 | |||||||||
| Notes receivable from third parties, net | 41 | 31,653 | |||||||||
| Inventory, net | 16,781 | 23,192 | |||||||||
| Prepaid expenses | 6,863 | 9,618 | |||||||||
| Other current assets | 5,046 | 5,096 | |||||||||
| Current assets of discontinued operations | 10,463 | 33,296 | |||||||||
| Total current assets | 46,160 | 114,038 | |||||||||
| Property and equipment, net | 11,128 | 7,845 | |||||||||
| Intangible assets, net | 39,980 | 43,622 | |||||||||
| Goodwill | 37,254 | 37,775 | |||||||||
| Operating lease right of use assets | 10,814 | 10,533 | |||||||||
| Long-term investments | — | 7,500 | |||||||||
| Other non-current assets | 2,866 | 2,276 | |||||||||
| Non-current assets of discontinued operations | 3,082 | 19,212 | |||||||||
| Total assets | $ 151,284 | $ 242,801 | |||||||||
| LIABILITIES, CONVERTIBLE REDEEMABLE PREFERRED STOCK, AND EQUITY | |||||||||||
| Current liabilities | |||||||||||
| Accounts payable | $ 56,271 | $ 25,448 | |||||||||
| Accrued salaries | 4,119 | 6,851 | |||||||||
| Accrued expenses | 2,436 | 2,674 | |||||||||
| Deferred revenue | 2,900 | 2,105 | |||||||||
| Amount due to related parties | 1,942 | 1,927 | |||||||||
| Current portion of operating lease liabilities | 2,828 | 2,031 | |||||||||
| Promissory note due to related party | 2,286 | 2,021 | |||||||||
| Promissory note due to third parties | 7,957 | 5,814 | |||||||||
| Convertible note due to third party | 6,149 | 3,928 | |||||||||
| Current contingent consideration | 78 | 867 | |||||||||
| Other current liabilities | 14,874 | 9,288 | |||||||||
| Current liabilities of discontinued operations | 7,499 | 13,909 | |||||||||
| Total current liabilities | 109,339 | 76,863 | |||||||||
| Promissory note due to third parties | 1,673 | 1,957 | |||||||||
| Operating lease liabilities - long term | 11,244 | 8,566 | |||||||||
| Deferred tax liabilities | 2,841 | 2,511 | |||||||||
| Other long-term liabilities | 1,116 | 1,131 | |||||||||
| Non-current liabilities of discontinued operations | 1,938 | 5,210 | |||||||||
| Total liabilities | 128,151 | 96,238 | |||||||||
Commitments and contingencies (Note 14) | |||||||||||
| Convertible redeemable preferred stock | |||||||||||
Series A - 7,000,000 shares issued and outstanding, liquidation and deemed liquidation preference of $3,500,000 as of September 30, 2023 and December 31, 2022 | 1,262 | 1,262 | |||||||||
Series B - 50,000,000.00 shares authorized, 20,000,000 and 10,000,000 shares issued and 2,105,200 and 10,000,000 shares outstanding as of September 30, 2023 and December 31, 2022, respectively | 1,863 | 8,850 | |||||||||
Series C - 2,000,000 shares authorized, 1,159,276 and 0 shares issued and 608,680 and 0 shares outstanding as of September 30, 2023 and December 31, 2022, respectively | 4,825 | — | |||||||||
| Equity | |||||||||||
Common stock - $0.001 par value; 12,000,000 shares authorized, 11,992,765 and 4,786,290 shares issued and 11,923,955 and 4,786,290 shares outstanding as of September 30, 2023 and December 31, 2022, respectively | 1,499 | 597 | |||||||||
| Additional paid-in capital | 1,071,219 | 1,004,082 | |||||||||
| Accumulated deficit | (1,049,603) | (866,450) | |||||||||
| Accumulated other comprehensive loss | (6,684) | (6,104) | |||||||||
| Total Ideanomics, Inc. stockholders' equity | 16,431 | 132,125 | |||||||||
| Non-controlling interest | (1,248) | 4,326 | |||||||||
| Total equity | 15,183 | 136,451 | |||||||||
| Total liabilities, convertible redeemable preferred stock, and equity | $ 151,284 | $ 242,801 | |||||||||
