Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Comprehensive Income (Loss) (Unaudited)

v3.22.2.2
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue $ 41,985 $ 35,872 $ 82,526 $ 66,406
Cost of revenue [1],[2],[3] 26,437 22,376 54,981 39,499
Gross profit 15,548 13,496 27,545 26,907
Operating expenses        
Selling, general, and administrative [4] 11,617 8,760 26,381 16,430
Depreciation and amortization 4,452 2,535 8,968 5,207
Total operating expenses 16,069 11,295 35,349 21,637
Operating (loss) income (521) 2,201 (7,804) 5,270
Interest expense and other (income) expense        
Interest expense 1,858 2,310 3,332 4,424
Other expense 129 7,110 195 8,650
Other income (36,108) (3,206) (63,223) (3,300)
Total interest expense and other (income) expense, net (34,121) 6,214 (59,696) 9,774
Net income (loss) before income tax 33,601 (4,013) 51,892 (4,504)
Income tax (benefit) expense (378) 69 79 78
Net income (loss) 33,979 (4,082) 51,813 (4,582)
Net loss attributable to Fathom OpCo non-controlling interest (Note 14) (442)   (5,702)  
Net income attributable to controlling interest 34,421 (4,082) 57,515 (4,582)
Comprehensive income (loss):        
Loss from foreign currency translation adjustments   2 (107) (105)
Comprehensive income (loss), net of tax $ 34,421 $ (4,080) $ 57,408 $ (4,687)
Class A and Class B Common Unit        
Net income (loss) per unit attributable to common stock/unit holders        
Basic [5]   $ 1.55   $ 1.90
Diluted [5]   $ 1.55   $ 1.90
Weighted average common shares outstanding        
Basic   7,723,592   7,723,592
Diluted   7,723,592   7,723,592
Class A Common Shares        
Net income (loss) per unit attributable to common stock/unit holders        
Basic $ 0.66   $ 1.12  
Diluted $ 0.25   $ 0.43  
Weighted average common shares outstanding        
Basic 52,259,885   51,530,961  
Diluted 135,524,773   135,305,168  
[1] Inclusive of $0 and $0 of inventory step-up amortization for the three months ended June 30, 2022 and June 30, 2021, respectively; and $3,241 and $277 for the six months ended June 30, 2022 and June 30, 2021, respectively;
[2] Inclusive of $443 and $3,854 of cost of revenue related to inventory purchases from a related party for the three months ended June 30, 2022 and June 30, 2021, respectively; and $1,552 and $4,434 for the six months ended June 30, 2022 and June 30, 2021, respectively;
[3] Inclusive of $1,541 and $695 of depreciation and amortization for the three months ended June 30, 2022 and June 30, 2021, respectively; and of $3,236 and $1,549 for the six months ended June 30, 2022 and June 30, 2021, respectively;
[4] Inclusive of $11 and $482 of management fees incurred to a related party for the three months ended June 30, 2022 and June 30, 2021, respectively; and $82 and $835 for the six months ended June 30, 2022 and June 30, 2021, respectively; and
[5] Basic and diluted net loss per unit amounts are the same for both Class A common units and Class B common units. See Note 13.