PALO ALTO, Calif., May 13, 2021 /PRNewswire/ -- Inpixon (Nasdaq:
INPX), the Indoor Intelligence™ company, today provided a business
update and reported financial results for the first quarter of
2021.
Nadir Ali, CEO of Inpixon,
stated, "I'm pleased to announce that we have continued our revenue
growth trend in the first quarter of 2021, with a 64% increase as
compared to the same period of last year. Over the last year and in
particular during the last few weeks, we have completed key
strategic transactions that we believe will significantly increase
our revenue growth velocity. With the acquisition of The CXApp, a
leading smart workplace app and hybrid events solution provider, we
have achieved a significant milestone in our strategic plan.
Inpixon is focused on using its Indoor Intelligence technologies to
arm organizations with actionable intelligence for people, places
and things, and with the ability to now offer a custom-branded,
location-aware app as part of our Indoor Intelligence platform, we
have direct access to the end user in order to deliver a truly
unique, best-in-class experience. In addition to the ability to
deliver what we believe will be an unparalleled experience with our
full stack of Indoor Intelligence technologies with RTLS, blue dot
positioning, mapping and analytics, we are confident that The CXApp
acquisition will result in an increase in our average selling
price, annual recurring revenue and customer stickiness. With
multiple joint enterprise engagements in progress prior to the
closing of the transaction, we already have a head start on
delivering a combined solution and are witnessing an increase in
interest and demand for our products.
"The CXApp also brings an established customer base that
includes some of the most well-known, top-tier organizations in the
world. The CXApp has historically leveraged a strong ecosystem of
partners that share in the vision to offer the best experiences in
order to deliver an app platform that works seamlessly with over 75
other systems and applications. We value these relationships and
partnerships, and by combining our networks, we intend to continue
this strategy and aggressively penetrate the global digital
workplace and event management software markets, which are
experiencing significant growth.
"In addition to the growth acceleration anticipated as a result
of The CXApp acquisition, we also remain committed to being an
innovator in Indoor Intelligence, and we are excited to have also
added a suite of augmented reality (AR), computer vision,
localization, navigation, mapping, and 3D reconstruction
technologies from Visualix to our Indoor Intelligence platform.
This technology wonderfully complements our existing portfolio as
it leverages a smartphone's camera to create 3D models of indoor
spaces, contributing to enhanced navigation, asset tracking,
smart-office applications, customer service, marketing, and more.
By merging the virtual and physical worlds, we are transforming the
way we interact with our environment, tell stories, and utilize
information. The demand for AR applications is rapidly increasing,
and we believe we provide a unique and powerful tool for
organizations who are looking to create smarter buildings and
improve end user experiences.
"Finally, as further good news, we recently settled a note
receivable with a face value including principal and interest of
approximately $9.1 million, which was
initially derived in connection with the spin-off of our legacy
business in 2018, for approximately 16 million shares of common
stock of Sysorex, Inc. (OTCQB: SYSX) (including the shares
underlying a rights agreement). These shares have a current market
value of over $100 million
(determined based on the closing price of Sysorex's common stock,
$6.70 per share as of May 12, 2021) and were acquired from Sysorex in
connection with the closing of a reverse merger with TTM Digital
Assets & Technologies, Inc., a data center owner and operator
primarily engaged in the business of mining Ethereum and additional
cryptocurrencies. As a second quarter 2021 event, the impact of
this transaction on our financial statements will not be reflected
until we report the upcoming second quarter 2021 results, however,
I believe this is an extremely positive outcome for our
shareholders."
Recent milestones:
- Acquired The CXApp, a leading SaaS app platform, enabling
corporate enterprise organizations to provide a custom-branded,
location-aware employee app focused on enhancing the workplace
experience and hosting virtual and hybrid events.
- Acquired a suite of augmented reality, computer vision,
localization, navigation, mapping, and 3D reconstruction
technologies, as well as all patents, trademarks, software and
related intellectual property from Visualix.
- Recognized in the 2021 Gartner Critical Capabilities for Indoor
Location Services, Global. Inpixon was acknowledged for its ability
to offer critical capabilities across all six indoor location
services use cases including Zonal Asset Tracking, People Tracking,
and Real-Time Location Services (RTLS) Asset Tracking.
- Converted a note receivable due from Sysorex, Inc. (OTCQB:
SYSX), with a face value of approximately $9.1 million including principal and accrued
interest, into approximately 16 million shares of Sysorex common
stock (including the shares underlying rights to acquire Sysorex
common stock) with a market value of over $100 million, based on the closing price of
Sysorex's common stock as of May 12,
2021.
- Launched the Inpixon Personnel Tag, a compact, lightweight
ultra-wideband (UWB) locator tag for Inpixon's real-time location
system (RTLS), designed to deliver 30-centimeter accuracy to locate
employees or visitors in real-time in order to support a variety of
safety and security use cases.
- Appointed Richard "Rick" Clemmer, former CEO of NXP
Semiconductors, a leading provider of embedded controllers for
industrial internet of things (IIoT), mobile, and communications
infrastructure with 2020 revenues of $8.6
billion, to Inpixon's board of advisors.
- Announced co-investment with Mr. Clemmer for Game Your Game
Inc., an app-based sports performance analytics firm using IoT
sensors, maps and location technologies.
- Recognized as a Visionary in the 2021 Gartner Magic Quadrant
for Indoor Location Services, Global. For the third consecutive
year, Inpixon was acknowledged in Gartner's Magic Quadrant for
completeness of vision and ability to execute.
Financial Results
Revenues for the three months ended March
31, 2021 were $3.0 million
compared to $1.8 million for the
comparable period in the prior year for an increase of
approximately $1.2 million, or
approximately 64%. This increase is primarily attributed to product
sales related to the Systat and the RTLS product lines. Gross
profit for the three months ended March 31,
2021 was $2.1 million compared
to $1.3 million for the comparable
period in the prior year, an increase of 60%. The gross profit
margin for the three months ended March 31,
2021 was 70% compared to 72% for the three months ended
March 31, 2020. This decrease in
margin is primarily due to lower gross profit margins from the RTLS
product line. Net loss attributable to stockholders for the three
months ended March 31, 2021 was
$12.6 million compared to
$6.2 million for the comparable
period in the prior year. This increase in loss of approximately
$6.4 million was primarily
attributable to increased operating expenses including
approximately $2.0 million from
the Systat licensing agreement and Nanotron acquisition and
approximately $4.7 million of
stock-based compensation expense offset by higher gross profit.
Non-GAAP Adjusted EBITDA for the three months ended March 31, 2021 was a loss of $5.6 million compared to a loss of $3.9 million for the prior year period. EBITDA is
defined as net income (loss) before interest, provision for income
taxes, and depreciation and amortization. Adjusted EBITDA is used
by Inpixon management as a metric by which it manages the business.
It is defined as EBITDA plus adjustments for other income or
expense items, non-recurring items and other non-cash items
including stock-based compensation.
Proforma non-GAAP net loss per basic and diluted common share
for the three months ended March 31,
2021 was a loss of $0.08
compared to a loss of $0.92 per share
for the prior year period. Proforma non-GAAP net income (loss) per
share is used by Inpixon management as an evaluation tool as it
manages the business and is defined as net income (loss) per basic
and diluted share adjusted for non-cash items including stock-based
compensation, amortization of intangibles and one-time charges and
other adjustments including loss on the exchange of debt for
equity, provision for valuation allowance on notes and acquisition
costs.
Conference Call
Inpixon management will host a conference call at 4:30 p.m. Eastern Time on Thursday, May 13, 2021
to discuss the company's financial results for the first quarter
ended March 31, 2021, as well as the
company's corporate progress and other developments.
The conference call will be available via telephone by dialing
toll free 888-506-0062 for U.S. callers or +1 973-528-0011 for
international callers and using entry code 698429. A webcast of the
call may be accessed
at https://www.webcaster4.com/Webcast/Page/2235/41303, or on
the company's Investor Relations section of the
website, ir.inpixon.com.
Investors and other interested parties are invited to submit
questions to management prior to the call's start via email to
inpx@crescendo-ir.com.
A webcast replay will be available on the company's Investor
Relations section of the website (ir.inpixon.com) through
May 13, 2022. A telephone replay of
the call will be available approximately one hour following the
call, through May 20, 2021 and can be
accessed by dialing 877-481-4010 for U.S. callers or +1
919-882-2331 for international callers and entering conference ID
41303.
About Inpixon
Inpixon® (Nasdaq: INPX) is the Indoor Intelligence™ company that
specializes in capturing, interpreting and giving context to indoor
data so it can be translated into actionable intelligence. The
company's Indoor Intelligence platform ingests diverse data from
IoT, third-party and proprietary sensors designed to detect and
position active cellular, Wi-Fi, UWB and Bluetooth devices. Paired
with a high-performance data analytics engine, patented algorithms,
and advanced mapping technology, Inpixon's solutions are leveraged
by a multitude of industries to do good with indoor data. This
multidisciplinary depiction of indoor data enables users to
increase revenue, decrease costs, and enhance safety. Inpixon
customers can boldly take advantage of location awareness,
analytics, sensor fusion and the Internet of Things (IoT) to
uncover the untold stories of the indoors. For the latest insights,
follow Inpixon on LinkedIn, Twitter, and
visit inpixon.com.
Safe Harbor Statement
All statements in this release that are not based on
historical fact are "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995 and the
provisions of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. While management has based any forward-looking statements
included in this release on its current expectations, the
information on which such expectations were based may change. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of risks,
uncertainties and other factors, many of which are outside of the
control of Inpixon and its subsidiaries, which could cause actual
results to materially differ from such statements. Such risks,
uncertainties, and other factors include, but are not limited to,
the fluctuation of economic conditions, the impact of COVID-19 on
Inpixon's results of operations, Inpixon's ability to integrate the
products and business from recent acquisitions into its existing
business, the performance of management and employees, the
regulatory landscape as it relates to privacy regulations and their
applicability to Inpixon's technology, Inpixon's ability to
maintain compliance with Nasdaq's minimum bid price requirement and
other continued listing requirements, the valuation associated with
the Sysorex shares which may be subject to discounts or other
adjustments for a variety of factors including but not limited to
fluctuations in the market price of Sysorex's common stock, the
ability to obtain financing, competition, general economic
conditions and other factors that are detailed in Inpixon's
periodic and current reports available for review at sec.gov.
Furthermore, Inpixon operates in a highly competitive and rapidly
changing environment where new and unanticipated risks may arise.
Accordingly, investors should not place any reliance on
forward-looking statements as a prediction of actual results.
Inpixon disclaims any intention to, and undertakes no obligation
to, update or revise forward-looking statements.
Non-GAAP Financial Measures
Management believes that certain financial measures not in
accordance with generally accepted accounting principles in
the United States ("GAAP") are
useful measures of operations. EBIDTA, Adjusted EBITDA and pro
forma net loss per share are non-GAAP measures. Inpixon defines
"EBITDA" as net income (loss) before interest, provision for
(benefit from) income taxes, and depreciation and amortization.
Management uses Adjusted EBITDA as a metric for which it manages
the business, and Inpixon defines "Adjusted EBITDA" as EBITDA plus
adjustments for other income or expense items, non-recurring items
and non-cash items. Inpixon defines "pro forma net loss per share"
as GAAP net loss per share adjusted for stock based compensation,
amortization of intangibles and one time charges including loss on
the exchange of debt for equity and provision for valuation
allowances.
Management provides Adjusted EBITDA and pro forma net loss per
share measures so that investors will have the same financial
information that management uses, which may assist investors in
assessing Inpixon's performance on a period-over-period basis.
Adjusted EBITDA or pro forma net loss per share is not a measure of
financial performance under GAAP, and should not be considered an
alternative to net income (loss) or any other measure of
performance under GAAP, or to cash flows from operating, investing
or financing activities as an indicator of cash flows or as a
measure of liquidity. Adjusted EBITDA and pro forma net loss per
share have limitations as analytical tools and should not be
considered either in isolation or as a substitute for analysis of
Inpixon's results as reported under GAAP.
For more information on our non-GAAP financial measures and a
reconciliation of GAAP to non-GAAP measures, please see the
"Reconciliation of Non-GAAP Financial Measures" table accompanying
this press release.
Inpixon Contacts
Media relations and general inquiries:
Inpixon
Email: marketing@inpixon.com
Web: inpixon.com/contact-us
Investor relations:
Crescendo Communications, LLC
Tel: +1 212-671-1020
Email: INPX@crescendo-ir.com
|
|
INPIXON AND
SUBSIDIARIES
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
(In thousands,
except number of shares and par value data)
|
|
|
|
|
|
|
|
As
of
|
|
March 31,
2021
|
|
December 31,
2020
|
|
|
|
|
ASSETS
|
|
|
|
Current
Assets
|
|
|
|
|
|
Cash and
cash equivalents
|
$
|
46,273
|
|
$
|
17,996
|
Accounts
receivable, net
|
|
1,240
|
|
|
1,739
|
Notes
and other receivables
|
|
160
|
|
|
152
|
Inventory
|
|
1,492
|
|
|
1,243
|
Short-term investments
|
|
50,057
|
|
|
7,998
|
Prepaid
assets and other current assets
|
|
1,222
|
|
|
1,197
|
Total Current
Assets
|
|
100,444
|
|
|
30,325
|
|
|
|
|
|
|
Property and
equipment, net
|
|
1,438
|
|
|
1,445
|
Operating lease
right-of-use asset, net
|
|
1,948
|
|
|
2,077
|
Software development
costs, net
|
|
1,769
|
|
|
1,721
|
Long-term
investments
|
|
2,500
|
|
|
2,500
|
Intangible assets,
net
|
|
14,199
|
|
|
14,203
|
Goodwill
|
|
6,370
|
|
|
6,588
|
Other
assets
|
|
160
|
|
|
152
|
Total
Assets
|
$
|
128,828
|
|
$
|
59,011
|
|
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
|
|
|
Current
Liabilities
|
|
|
|
|
|
Accounts
payable
|
$
|
1,377
|
|
$
|
908
|
Accrued
liabilities
|
|
3,131
|
|
|
2,739
|
Operating lease obligation, current
|
|
637
|
|
|
647
|
Deferred
revenue
|
|
1,667
|
|
|
1,922
|
Short-term debt
|
|
4,251
|
|
|
5,401
|
Acquisition liability
|
|
500
|
|
|
500
|
Total Current
Liabilities
|
|
11,563
|
|
|
12,117
|
|
|
|
|
|
|
Long Term
Liabilities
|
|
|
|
|
|
Operating lease obligations, noncurrent
|
|
1,339
|
|
|
1,457
|
Other
liabilities, noncurrent
|
|
7
|
|
|
7
|
Acquisition liability, noncurrent
|
|
--
|
|
|
750
|
Total
Liabilities
|
|
12,909
|
|
|
14,331
|
|
|
|
|
|
|
Commitments and
Contingencies
|
|
--
|
|
|
--
|
|
|
|
|
|
|
Stockholders'
Equity
|
|
|
|
|
|
Preferred Stock - $0.001 par value; 5,000,000 shares authorized;
Series 4 Convertible Preferred Stock - 10,415 shares authorized; 1
issued, and 1 outstanding as of March 31, 2021 and December 31,
2020, respectively; Series 5 Convertible Preferred Stock - 12,000
shares authorized; 126 issued, and 126 outstanding as of March 31,
2021 and December 31, 2020, respectively.
|
|
--
|
|
|
--
|
Common
Stock - $0.001 par value; 250,000,000 shares authorized;
101,382,448 and 53,178,462 issued and 101,382,447 and 53,178,461
outstanding as of March 31, 2021 and December 31, 2020,
respectively.
|
|
102
|
|
|
53
|
Additional paid-in capital
|
|
310,013
|
|
|
225,613
|
Treasury
stock, at cost, 1 share
|
|
(695)
|
|
|
(695)
|
Accumulated other comprehensive (loss)/income
|
|
(11)
|
|
|
660
|
Accumulated deficit
|
|
(193,549)
|
|
|
(180,992)
|
Stockholders' Equity Attributable to Inpixon
|
|
115,860
|
|
|
44,639
|
|
|
|
|
|
|
Non-controlling interest
|
|
59
|
|
|
41
|
|
|
|
|
|
|
Total
Stockholders' Equity
|
|
115,919
|
|
|
44,680
|
|
|
|
|
|
|
Total Liabilities
and Stockholders' Equity
|
$
|
128,828
|
|
$
|
59,011
|
|
|
|
INPIXON AND
SUBSIDIARIES
|
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE
LOSS
|
(In thousands,
except per share data)
|
|
|
|
|
|
|
|
For the Years
Ended
|
|
March 31,
|
|
2021
|
|
2020
|
|
|
Revenues
|
$
|
2,954
|
|
$
|
1,804
|
Cost of
Revenues
|
|
884
|
|
|
510
|
|
|
|
|
|
|
Gross
Profit
|
|
2,070
|
|
|
1,294
|
|
|
|
|
|
|
Operating
Expenses
|
|
|
|
|
|
Research
and development
|
|
2,708
|
|
|
1,334
|
Sales
and marketing
|
|
1,639
|
|
|
691
|
General
and administrative
|
|
9,171
|
|
|
3,791
|
Acquisition related costs
|
|
470
|
|
|
28
|
Amortization of intangibles
|
|
502
|
|
|
1,016
|
Total Operating
Expenses
|
|
14,490
|
|
|
6,860
|
|
|
|
|
|
|
Loss from
Operations
|
|
(12,420)
|
|
|
(5,566)
|
|
|
|
|
|
|
Other Income
(Expense)
|
|
|
|
|
|
Interest
expense, net
|
|
(349)
|
|
|
(621)
|
Loss on
exchange of debt for equity
|
|
(30)
|
|
|
(86)
|
Provision for valuation allowance on related party loan - held for
sale
|
|
(117)
|
|
|
--
|
Other
income
|
|
386
|
|
|
18
|
Total Other
Expense
|
|
(110)
|
|
|
(689)
|
|
|
|
|
|
|
Net Loss, before
tax
|
|
(12,530)
|
|
|
(6,255)
|
Income
tax (provision) benefit
|
|
(9)
|
|
|
87
|
Net
Loss
|
|
(12,539)
|
|
|
(6,168)
|
|
|
|
|
|
|
Net Income (loss)
Attributable to Non-controlling Interest
|
|
18
|
|
|
(10)
|
|
|
|
|
|
|
Net Loss
Attributable to Stockholders of Inpixon
|
$
|
(12,557)
|
|
$
|
(6,158)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss Per Share
- Basic and Diluted
|
$
|
(0.16)
|
|
$
|
(1.22)
|
|
|
|
|
|
|
Weighted Average
Shares Outstanding
|
|
|
|
|
|
Basic
and Diluted
|
|
78,942,697
|
|
|
5,038,515
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
Loss
|
|
|
|
|
|
Net Loss
|
$
|
(12,539)
|
|
$
|
(6,168)
|
Unrealized foreign exchange loss from cumulative translation
adjustments
|
|
(671)
|
|
|
(613)
|
Comprehensive
Loss
|
$
|
(13,210)
|
|
$
|
(6,781)
|
|
|
|
INPIXON AND
SUBSIDIARIES
|
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(In
thousands)
|
|
|
|
|
|
|
|
For the Three Months
Ended
|
|
March 31,
|
|
2021
|
|
2020
|
|
Cash Flows Used In
Operating Activities
|
|
|
|
|
|
Net
loss
|
$
|
(12,539)
|
|
$
|
(6,168)
|
Adjustments to
reconcile net loss to net cash used in operating
activities:
|
|
|
|
|
|
Depreciation and
amortization
|
|
293
|
|
|
210
|
Amortization of
intangible assets
|
|
650
|
|
|
1,016
|
Amortization of right
of use asset
|
|
181
|
|
|
157
|
Stock based
compensation
|
|
5,096
|
|
|
399
|
Loss on exchange of
debt for equity
|
|
30
|
|
|
86
|
Amortization of debt
discount
|
|
224
|
|
|
868
|
Accrued interest
income, related party
|
|
--
|
|
|
(16)
|
Related party note,
gain on foreign currency transaction
|
|
(363)
|
|
|
--
|
Provision for the
valuation allowance - held for sale loan
|
|
117
|
|
|
--
|
Income tax expense
(benefit)
|
|
9
|
|
|
(87)
|
Other
|
|
--
|
|
|
29
|
|
|
|
|
|
|
Changes in operating
assets and liabilities:
|
|
|
|
|
|
Accounts receivable
and other receivables
|
|
426
|
|
|
(416)
|
Inventory
|
|
(279)
|
|
|
29
|
Prepaid expenses and
other current assets
|
|
135
|
|
|
65
|
Other
assets
|
|
(227)
|
|
|
(16)
|
Accounts
payable
|
|
480
|
|
|
(568)
|
Accrued
liabilities
|
|
421
|
|
|
(113)
|
Deferred
revenue
|
|
(235)
|
|
|
31
|
Operating lease
obligation
|
|
(176)
|
|
|
(156)
|
Other
liabilities
|
|
96
|
|
|
115
|
Total
Adjustments
|
|
6,878
|
|
|
1,633
|
Net Cash Used in
Operating Activities
|
|
(5,661)
|
|
|
(4,535)
|
|
|
|
|
|
|
Cash Flows Used in
Investing Activities
|
|
|
|
|
|
Purchase
of property and equipment
|
|
(109)
|
|
|
(16)
|
Capitalized software
|
|
(253)
|
|
|
(193)
|
Investment in short term investment
|
|
(42,059)
|
|
|
--
|
Purchase
of the Systat Licensing Agreement
|
|
(900)
|
|
|
--
|
Net Cash Flows
Used in Investing Activities
|
|
(43,321)
|
|
|
(209)
|
|
|
|
|
|
|
Cash Flows From
Financing Activities
|
|
|
|
|
|
Net
repayments to bank facility
|
|
--
|
|
|
(150)
|
Net
proceeds from issuance of common stock and warrants
|
|
77,853
|
|
|
1,252
|
Net
repayments of notes payable
|
|
--
|
|
|
1
|
Loans to
related party
|
|
(117)
|
|
|
(184)
|
Repayments from related party
|
|
--
|
|
|
185
|
Net
proceeds from promissory notes
|
|
--
|
|
|
5,000
|
Repayment of acquisition liability to Locality
shareholders
|
|
(467)
|
|
|
--
|
Net Cash Provided
By Financing Activities
|
|
77,269
|
|
|
6,104
|
|
|
|
|
|
|
Effect of Foreign
Exchange Rate on Changes on Cash
|
|
(10)
|
|
|
(27)
|
|
|
|
|
|
|
Net Increase in
Cash, Cash Equivalents and Restricted Cash
|
|
28,277
|
|
|
1,333
|
|
|
|
|
|
|
Cash, Cash
Equivalents and Restricted Cash - Beginning of period
|
|
17,996
|
|
|
4,849
|
|
|
|
|
|
|
Cash, Cash
Equivalents and Restricted Cash - End of period
|
$
|
46,273
|
|
$
|
6,182
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measures:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In
thousands)
|
For the Three
Months Ended
|
March
31,
|
|
2021
|
|
2020
|
Net loss attributable
to common stockholders
|
$
|
(12,557)
|
|
$
|
(6,158)
|
Adjustments:
|
|
|
|
|
|
Non-recurring
one-time charges:
|
|
|
|
|
|
Loss on exchange of
debt for equity
|
|
30
|
|
|
86
|
Provision for
valuation allowance on held for sale loan
|
|
117
|
|
|
--
|
Professional service
fees
|
|
349
|
|
|
--
|
Acquisition
transaction/financing costs
|
|
470
|
|
|
28
|
Unrealized gain/loss
on note
|
|
(363)
|
|
|
--
|
Stock-based
compensation – compensation and related benefits
|
|
5,096
|
|
|
399
|
Interest expense,
net
|
|
349
|
|
|
621
|
Income tax provision
(benefit)
|
|
9
|
|
|
(87)
|
Depreciation and
amortization
|
|
943
|
|
|
1,226
|
|
|
|
|
|
|
Adjusted
EBITDA
|
$
|
(5,557)
|
|
$
|
(3,885)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands, except
share data)
|
For the Three
Months Ended
|
March
31,
|
|
2021
|
|
2020
|
Net loss attributable
to common stockholders
|
$
|
(12,557)
|
|
$
|
(6,158)
|
Adjustments:
|
|
|
|
|
|
Non-recurring
one-time charges:
|
|
|
|
|
|
Loss on exchange of
debt for equity
|
|
30
|
|
|
86
|
Provision for
valuation allowance on held for sale loan
|
|
117
|
|
|
--
|
Professional service
fees
|
|
349
|
|
|
--
|
Acquisition
transaction/financing costs
|
|
470
|
|
|
28
|
Unrealized gain/loss
on note
|
|
(363)
|
|
|
--
|
Stock-based
compensation – compensation and related benefits
|
|
5,096
|
|
|
399
|
Amortization of
intangibles
|
|
650
|
|
|
1,016
|
Proforma non-GAAP net
loss
|
$
|
(6,208)
|
|
$
|
(4,629)
|
Proforma non-GAAP net
loss per basic and diluted common share
|
$
|
(0.08)
|
|
$
|
(0.92)
|
Weighted average
basic and diluted common shares outstanding
|
|
78,942,697
|
|
|
5,038,515
|
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SOURCE Inpixon