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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Total revenue $ 665 $ 8,221 $ 11,643 $ 18,943
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 0 10,712 0
Depreciation and amortization 5,635 1,652 15,399 4,011
Change in fair value of contingent consideration, net (61,469) 0 (74,416) (131)
Other general expenses (261) 0 89 0
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 0 941 401 2,522
Interest expense (1,366) (222) (2,636) (1,256)
Gain on remeasurement of investment 0 0 0 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 0 (429) 0 (2,357)
Net loss from continuing operations (62,225) (33,322) (163,367) (86,980)
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, loss per share from continuing operations (in dollars per share) $ (5.19) $ (8.07) $ (17.07) $ (21.02)
Diluted, loss per share from continuing operations (in dollars per share) (5.19) (8.07) (17.07) (21.02)
Basic, loss per share from discontinued operations (in dollars per share) (0.20) (1.40) (2.61) (5.10)
Diluted, loss per share from discontinued operations (in dollars per share) (0.20) (1.40) (2.61) (5.10)
Basic loss per share (in dollars per share) (5.39) (9.47) (19.68) (26.11)
Diluted loss per share (in dollars per share) $ (5.39) $ (9.47) $ (19.68) $ (26.11)
Weighted average shares outstanding:        
Basic (in shares) 11,692,394 3,952,490 9,291,974 3,971,139
Diluted (in shares) 11,692,394 3,952,490 9,291,974 3,971,139
Sale of products        
Total revenue $ 583 $ 7,625 $ 11,038 $ 17,428
Total cost of revenue 1,047 8,712 11,841 17,834
Sale of services        
Total revenue 19 426 99 1,205
Total cost of revenue 255 110 451 829
Other revenue        
Total revenue 63 170 506 310
Total cost of revenue $ 816 $ 56 $ 1,639 $ 198