XML 18 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues $ 80,186 $ 70,254
Cost of revenues 66,069 58,671
Gross profit 14,117 11,583
Operating expenses:    
Selling, general and administrative expense 14,260 8,126
Depreciation and amortization 2,659 5,323
Provision for (recovery of) bad debt 490 (60)
Other operating income (15) (18)
Total operating expenses 17,394 13,371
Loss from operations (3,277) (1,788)
Loss on extinguishment of debt (583) (26,019)
Loss on financial instrument (1,196) (928)
Gain on warrant liabilities 646 0
Other income (expense) (4,147) 345
Interest expense (11,164) (8,039)
Loss from continuing operations before income taxes (19,721) (36,429)
Income Tax Expense (Benefit) 536 241
Loss from continuing operations, net of income taxes (20,257) (36,670)
Discontinued operations (Note 3)    
Loss from discontinued operations, net of income taxes (268) (953)
Net loss (20,525) (37,623)
Less: net loss attributable to noncontrolling interest (360) (22)
Net loss attributable to Orbital Infrastructure Group, Inc. $ (20,165) $ (37,601)
Basic and diluted weighted average common shares outstanding (in shares) 4,327,323 2,078,168
Loss from continuing operations per common share - basic and diluted (in dollars per share) $ (4.60) $ (17.63)
Loss from discontinued operations per common share - basic and diluted (in dollars per share) (0.06) (0.46)
Loss per common share - basic and diluted (in dollars per share) $ (4.66) $ (18.09)