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| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net loss | $40.9m | ($31.2m) | ($45.4m) | ($25.8m) | ($20.1m) | ($25.9m) | $94.3m | ($61.5m) | ($51.4m) | ($43.7m) | — | |
| Net amortization/accretion of premium/discount on investments | — | — | — | — | — | ($23.3m) | ($22.5m) | ($37.1m) | ($41.9m) | ($52.3m) | — | |
| Amortization of debt issuance costs | — | — | — | — | — | $9.3m | $10.3m | $9.3m | $9.3m | $27.1m | — | |
| Depreciation and amortization | $955k | $857k | $1.1m | $1.1m | $1.6m | $3.2m | $3.3m | $3.7m | $2.8m | $3.1m | — | |
| Amortization of offering cost of warrants | — | — | — | — | $0 | $12.6m | $0 | $1.5m | $0 | — | — | |
| Amortization of right of use assets | — | — | $0 | $0 | $1.4m | $1.9m | $3.1m | $3.3m | $1.6m | $4.6m | — | |
| Deferred tax benefit | ($1.2m) | $0 | $0 | $0 | $0 | ($426k) | ($624k) | $0 | — | — | — | |
| Deferred tax provision | $1.7m | $0 | $0 | — | — | — | — | — | — | — | — | |
| Impairment loss of property and equipment and other long-lived assets | — | — | — | $0 | $0 | $768k | $0 | $1.0m | $0 | $0 | — | |
| Impairment loss on goodwill and intangible assets | — | — | — | — | $0 | $0 | $2.3m | $10.0m | $0 | $0 | — | |
| Impairment loss of investment in unconsolidated entity | $0 | $0 | $4.0m | $0 | — | — | — | — | — | — | — | |
| Accounts receivable | $14.7m | ($245k) | $12.0m | ($40.5m) | $18.4m | $18.3m | $3.8m | ($496k) | ($12.2m) | $1.7m | ($27.5m) | |
| Other receivables | ($1.8m) | $4.6m | ($1.7m) | ($929k) | ($287k) | ($338k) | $286k | ($1.3m) | $32k | ($531k) | — | |
| Other receivables-related parties | — | — | — | — | — | $0 | $0 | ($64k) | ($276k) | $208k | — | |
| Accounts receivable-related party | — | — | — | ($3.4m) | $0 | $3.4m | $0 | — | — | — | ($27.5m) | |
| Allowance (reversal) for slow moving inventories | $2.4m | $0 | $65k | $65k | $57k | $655k | $266k | $485k | $887k | ($1.3m) | — | |
| Inventories | $1.2m | $3.6m | ($5.0m) | ($1.2m) | ($1.1m) | ($2.5m) | ($689k) | ($2.4m) | $5.6m | $267k | — | |
| Inventories transferred to and used as fixed assets | $1.0m | $0 | $0 | $0 | $410k | $303k | $0 | ($65k) | $0 | — | — | |
| Increase (decrease) in payables to affiliates | — | — | — | — | — | $256k | $231k | ($1.6m) | $784k | ($1.8m) | — | |
| Accounts payable | ($9.6m) | $812k | ($2.7m) | ($400k) | $8.2m | ($2.1m) | ($5.5m) | ($1.7m) | ($604k) | $1.9m | — | |
| Other payables | $713k | ($189k) | ($180k) | ($862k) | ($14k) | $5.7m | ($6.3m) | $2.3m | ($3.0m) | $3.4m | — | |
| Other payables-related parties | — | — | — | ($921k) | $2.2m | ($2.6m) | $969k | $352k | ($293k) | $628k | — | |
| Increase (decrease) in accrued expenses and other liabilities | — | — | — | — | — | $11.7m | $7.8m | $13.6m | ($9.1m) | ($109.8m) | $7.7m | |
| Accrued interest income from loans to third parties | — | — | — | — | $0 | $0 | ($271k) | ($8.0m) | ($7.0m) | ($5.3m) | — | |
| Accrued interest income from short-term investment | — | — | — | — | — | $0 | $0 | ($2.9m) | ($885k) | ($17k) | — | |
| Accrued payroll and employees' welfare | $134k | $1.6m | $141k | $784k | $533k | ($1.6m) | $296k | $132k | $855k | ($25k) | — | |
| Accrued expenses | — | — | $0 | $0 | $9k | ($984k) | — | — | — | — | $7.7m | |
| Deferred revenue | ($1.9m) | $853k | ($1.2m) | $0 | — | — | — | — | — | — | — | |
| (Increase) decrease in prepaid expenses and other assets | — | — | — | — | — | ($1.4m) | $947k | ($212k) | ($9.3m) | $2.0m | — | |
| Net cash provided by (used in) operating activities | ($286k) |
($7.4m)
-2483.91%
|
($19.6m)
-165.12%
|
($32.2m)
-64.60%
|
($5.2m)
+83.76%
|
($2.6b)
-49976.68%
|
($295.3m)
+88.73%
|
$708.4m
+339.89%
|
$64.2m
-90.94%
|
($916.0m)
-1527.83%
|
— | |
| Loss (gain) from disposal of property and equipment | ($41k) | ($36k) | ($78k) | $0 | ($89k) | $20k | $49k | ($13k) | $35k | $12k | — | |
| Purchases of property and equipment | ($181k) | ($638k) | ($1.5m) | ($1.7m) | ($86k) | ($522k) | ($692k) | ($941k) | ($282k) | ($1.0m) | — | |
| Proceeds from disposal of property and equipment | $60k | $52k | $32k | $0 | $900 | $0 | $0 | $32k | $20k | $2k | — | |
| Receivable for disposal of property and equipment | $0 | $0 | $82k | $0 | $110k | $0 | $3k | $0 | — | — | — | |
| Non-cash payment for property and equipment purchase | $0 | $87k | $0 | — | — | — | — | — | — | — | — | |
| Purchases of investments, net | — | — | — | — | — | ($4.1b) | ($1.1b) | ($849.5m) | ($2.0b) | ($3.8b) | — | |
| Proceeds from investments and investment repayments, net | — | — | — | — | — | $1.4b | $666.5m | $1.3b | $1.8b | $1.9b | — | |
| Net change in unrealized (gain) loss on investments | — | — | — | — | — | ($188.9m) | $295.5m | $6.7m | ($51.6m) | ($146.2m) | — | |
| Net realized (gain) loss on investments | — | — | — | — | — | ($88.5m) | ($41.2m) | ($8.2m) | $104.2m | ($54.6m) | — | |
| Net realized (gain) loss on foreign currency transactions relating to investments | — | — | — | — | — | ($7k) | $1.6m | $22k | $14.9m | ($8.0m) | — | |
| Increase (decrease) in payable for investments purchased | — | — | — | — | — | $11.4m | ($11.4m) | $24.2m | $28.6m | ($49.8m) | — | |
| Payments for short-term investments | — | — | — | — | — | $0 | $0 | ($290.1m) | ($203.5m) | ($3.6m) | — | |
| Redemption of short-term investments | — | — | — | — | — | $0 | $0 | $108.8m | $300.9m | $87.2m | — | |
| Net cash (used in) provided by investing activities | ($121k) | $12.5m | ($17.6m) | ($13.5m) | ($2.1m) | ($46.5m) | ($329k) | ($245.2m) | $3.0m | $33.7m | — | |
| Net cash used in investing activities | ($121k) | ($86k) | — | — | — | — | — | — | — | — | — | |
| Net realized (gain) loss on foreign currency transactions relating to debt | — | — | — | — | — | — | — | $0 | $0 | $29.5m | — | |
| Borrowings on debt | — | — | — | — | — | $3.8b | $1.4b | $901.6m | $347.8m | $4.0b | — | |
| Payments on debt | — | — | — | — | — | ($2.8b) | ($903.2m) | ($1.1b) | ($382.3m) | ($2.6b) | — | |
| Debt issuance costs | — | — | — | — | — | ($6.3m) | ($11.2m) | ($11.5m) | ($11.7m) | ($26.6m) | — | |
| Repayments of short-term borrowings | $0 | ($1.3m) | ($4.9m) | $0 | ($1.0m) | ($3.4m) | ($530k) | $0 | $0 | — | — | |
| Proceeds from short-term borrowings-related parties | — | — | — | $5.0m | $17.4m | $18.4m | $11.1m | $15.0m | $10.0m | — | — | |
| Repayments of short-term borrowings-related parties | — | — | — | ($5.0m) | ($16.2m) | ($15.9m) | ($14.8m) | ($9.0m) | ($10.0m) | — | — | |
| Repayments of long-term borrowings-related party | $0 | $0 | ($372k) | ($684k) | ($748k) | ($817k) | ($893k) | ($1.5m) | $0 | — | — | |
| Proceeds from short-term borrowings | $530k | $1.1m | $4.6m | $1.1m | $200k | $3.7m | $0 | — | — | — | — | |
| Proceeds from long-term borrowings-related party | $0 | $0 | $10.0m | $0 | — | $0 | $0 | — | — | — | — | |
| AR and short-term borrowings-related parties offset | $200k | $0 | $0 | — | — | — | — | — | — | — | — | |
| Repayment of short-term borrowings | $0 | ($1.3m) | — | — | — | — | — | — | — | — | — | |
| Repurchases of common stock | — | — | — | — | — | — | — | $0 | $0 | ($73.4m) | — | |
| Proceeds from warrants issued with common stock | — | — | — | $0 | $0 | $212.1m | $0 | $17.5m | — | — | — | |
| Issuance of common stock in exchange of shares of FGS, net of issuance costs | — | $0 | $0 | $21.4m | $0 | $1.7m | $0 | — | — | — | — | |
| Cancellation of common stock issued prior years in exchange of shares of FGS , net of issuance costs | — | — | — | $0 | $0 | ($1.7m) | $0 | — | — | — | — | |
| Issuance of common stock in exchange of shares of Starry, net of issuance costs | — | — | — | $0 | $0 | $27.7m | $0 | — | — | — | — | |
| Issuance of common stock to redeem warrants | $0 | $0 | — | — | — | — | — | — | — | — | — | |
| Paid-in-kind dividends | — | — | — | — | — | — | — | ($36.6m) | ($42.9m) | ($34.5m) | — | |
| (Increase) decrease in dividend income receivable | — | — | — | — | — | ($555k) | ($5.3m) | $401k | $3.9m | ($4.3m) | — | |
| Net cash provided by (used in) financing activities | ($10.2m) |
($3.1m)
+69.78%
|
$76.9m
+2598.85%
|
$3.5m
-95.39%
|
$33.2m
+837.11%
|
$2.6b
+7855.07%
|
$391.6m
-85.19%
|
($442.6m)
-213.05%
|
($276.2m)
+37.61%
|
$941.9m
+441.05%
|
— | |
| Net increase (decrease) in cash and restricted cash, including foreign cash (restricted cash of $— and $—, respectively) | ($10.5m) | $2.0m | $41.5m | ($40.8m) | $25.8m | $24.8m | $96.3m | $265.7m | ($212.0m) | $25.9m | — | |
| Cash and restricted cash, including foreign cash, beginning of period (restricted cash of $— and $—, respectively) | — | — | — | — | $4.5m | $107.0m | $203.3m | $469.0m | $257.0m | $282.9m | — | |
| Effect of exchange rate fluctuation on cash and restricted cash | $63k | ($16k) | $1.8m | $1.4m | ($84k) | $224k | $10.3m | $27.7m | $1.7m | ($8.6m) | — | |
| Restricted cash | — | — | — | — | $0 | $0 | $0 | $732k | $849k | $8k | — | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Net Increase (Decrease) in Net Assets Resulting from Operations | — | — | — | — | — | $424.8m | $19.0m | $369.1m | $319.2m | $720.4m | — | |
| Net change in unrealized (gain) loss on interest rate swaps attributed to unsecured notes | — | — | — | — | — | — | — | $0 | $0 | $18.9m | — | |
| Net change in unrealized (gain) loss on forward contracts | — | — | — | — | — | — | — | $0 | $0 | $1.9m | — | |
| Net change in unrealized (gain) loss on translation of assets and liabilities in foreign currencies | — | — | — | — | — | — | — | ($3.1m) | $263k | ($31.6m) | — | |
| Paid-in-kind interest | — | — | — | — | — | ($36.5m) | ($95.8m) | ($113.7m) | ($96.6m) | ($135.7m) | — | |
| Cash acquired in the Mergers | — | — | — | — | — | — | — | $0 | $0 | $647.2m | — | |
| (Increase) decrease in interest receivable | — | — | — | — | — | ($20.4m) | $2.0m | $462k | ($6.2m) | $37.3m | — | |
| (Increase) decrease in paid-in-kind interest receivable | — | — | — | — | — | ($5.3m) | ($527k) | ($3.1m) | $4.6m | $0 | — | |
| Increase (decrease) in management fee payable | — | — | — | — | — | $4.0m | $890k | $9k | $435k | $22.1m | — | |
| Increase (decrease) in incentive fee payable | — | — | — | — | — | $31.0m | ($22.7m) | $2.9m | ($6.8m) | $46.3m | — | |
| Distributions paid | — | — | — | — | — | ($83.3m) | ($136.3m) | ($208.7m) | ($230.0m) | ($393.7m) | — | |
| Interest paid during the period | $903k | $571k | $868k | $1.5m | $1.4m | $75.5m | $120.1m | $173.4m | $189.5m | $304.7m | — | |
| Distributions declared during the period | — | — | — | — | — | $123.0m | $210.8m | $300.3m | $307.0m | $607.7m | — | |
| Reinvestment of distributions during the period | — | — | — | — | — | $29.1m | $47.0m | $73.8m | $83.0m | $99.2m | — | |
| Distributions Payable | — | — | — | — | — | — | — | $76.9m | $71.0m | $185.7m | — | |
| Issuance of shares in connection with the Mergers | $0 | $56k | $0 | — | — | — | — | $0 | $0 | $4.3b | — | |
| Taxes, including excise tax, paid during the period | — | — | — | — | — | $324k | $3.9m | $7.9m | $10.2m | $11.6m | — | |
| (Gain) loss in fair value changes of warrants liability | $0 | $0 | — | — | $0 | ($35.4m) | ($174.5m) | ($6.1m) | $934k | ($6k) | — | |
| Allowance for (net recovery of) credit losses | $14.5m | $1.8m | ($841k) | $611k | $2.2m | $8.2m | ($659k) | ($9.0m) | $4.1m | ($2.9m) | — | |
| Restricted shares issued for management and employees | — | — | ($15.5m) | $21.3m | $7.9m | $6.1m | $39.3m | $26.2m | $22.4m | $10.3m | — | |
| Restricted shares issued for services | $2.3m | $8.4m | $3.1m | $846k | $34k | $0 | $8.9m | $5.8m | $1.1m | — | — | |
| Notes receivable | ($455k) | ($1.5m) | $2.1m | $922k | ($1.1m) | ($2.1m) | ($4.5m) | $7.1m | $2.4m | $1.3m | — | |
| Purchase advances | $4.9m | ($10.5m) | ($297k) | $5.8m | $1.2m | ($899k) | $865k | ($2.6m) | ($2.4m) | ($5.1m) | — | |
| Contract costs | — | — | ($127k) | $7.6m | ($26.9m) | ($21.9m) | $15.4m | ($14.2m) | ($4.4m) | ($364k) | — | |
| Prepaid expense | $716k | ($718k) | $319k | $317k | ($5k) | $143k | ($274k) | $70k | ($51k) | $12k | — | |
| Prepaid expense - related parties | — | — | — | ($218k) | $218k | ($433k) | $158k | $275k | $0 | — | — | |
| Operating lease liabilities | — | — | $0 | $0 | ($1.4m) | ($2.8m) | ($1.6m) | ($3.1m) | ($2.9m) | ($4.9m) | — | |
| Contract liabilities | — | — | — | — | $3.4m | $4.2m | ($5.6m) | $641k | ($928k) | $2.9m | — | |
| Taxes payable | $790k | ($79k) | ($269k) | $1.7m | ($1.1m) | $76k | $962k | ($1.0m) | ($172k) | ($198k) | — | |
| Purchase of land use right | — | — | — | — | — | — | $0 | $0 | ($15.0m) | — | — | |
| Repayments of loans to third parties | — | $14.2m | $435k | $1.0m | $11.2m | $5.2m | $171.4m | $40.1m | $117.5m | $100.5m | — | |
| Payments made for loans to third parties | — | ($1.1m) | ($2.0m) | ($4.0m) | ($9.5m) | ($51.6m) | ($171.1m) | ($103.1m) | ($196.4m) | ($140.5m) | — | |
| Payments and prepayments for construction in progress | $0 | $0 | ($9.2m) | ($4.6m) | ($3.8m) | $0 | $0 | $0 | ($219k) | ($8.9m) | — | |
| Proceeds from short-term bank loans | $500k | $0 | $45k | $2.5m | $9.5m | $16.0m | $10.0m | $13.5m | $11.6m | $10.5m | — | |
| Repayments of short-term bank loans | ($7.5m) | $0 | ($45k) | $0 | ($2.5m) | ($10.5m) | ($15.0m) | ($11.0m) | ($11.6m) | ($11.3m) | — | |
| Proceeds from warrants issued with ordinary shares | — | — | — | — | — | — | — | $17.5m | $0 | — | — | |
| Proceeds from sale of ordinary shares, net of issuance costs | $172k | $0 | $65.0m | $0 | $26.1m | $81.1m | $0 | $28.2m | $77.7m | ($2.5m) | — | |
| Proceeds from sale of prefunded warrants, net of issuance costs | — | — | — | $0 | $0 | $30.3m | $93k | $3.8m | $0 | — | — | |
| Redemption of warrants | — | — | — | — | — | — | $0 | $0 | ($32.6m) | $0 | — | |
| Capital contribution by controlling shareholders | — | — | — | — | — | — | — | $0 | $0 | $100k | — | |
| Cash | $12.3m | $1.8m | $45.3m | $45.3m | $4.5m | $30.3m | $344.0m | $104.1m | $110.0m | $98.9m | ($621.6m) | |
| Cash paid during the year for taxes | $142k | $284k | ($23k) | $2k | $282k | ($98k) | $10k | $18k | $0 | $2k | — | |
| Right-of-use assets obtained in exchange for operating lease obligations | — | — | $0 | $0 | $1.2m | $7.2m | $938k | $75k | $8.3m | — | — | |
| Reduction of right-of-use assets and operating lease obligations due to early termination of lease agreement | — | — | — | — | — | $0 | $0 | $62k | $61k | $1.9m | — | |
| Payable for construction in progress | $0 | $0 | $3.1m | $5.7m | $733k | $0 | — | $0 | $0 | $7.3m | — | |
| Capital contribution receivable due from non-controlling Interest | — | — | — | $0 | $0 | $50.0m | $0 | $0 | $0 | $724k | — | |
| Income from investment in unconsolidated entity | — | $0 | $0 | $960k | ($463k) | $267k | ($15k) | $0 | $0 | — | — | |
| Cancellation of shares issued to Starry Lab | — | — | — | — | $0 | $0 | ($27.7m) | $0 | — | — | — | |
| Other payable due to non-controlling interest converted into capital contribution | — | — | — | — | $0 | $0 | $1.1m | $0 | — | — | — | |
| Remeasurement gain of previously held equity interests in connection with step acquisition | — | — | — | $0 | $0 | ($979k) | $0 | — | — | — | — | |
| Interest expenses related to convertible notes | — | — | — | $0 | $0 | $430k | $0 | — | — | — | — | |
| Step acquisition of FGS, net of cash | — | — | — | $0 | $0 | $472k | $0 | — | — | — | — | |
| Proceeds from stock issuance for warrants exercised | — | — | — | $0 | $0 | $21.1m | $0 | — | — | — | — | |
| Proceeds from issuance of convertible notes | — | — | — | $0 | $0 | $42.0m | $0 | — | — | — | — | |
| Capital contribution by non-controlling shareholders | $0 | $0 | $3.7m | $850k | $405k | $50k | $0 | $0 | — | — | — | |
| Conversion of convertible notes to 9,225,338 shares of ordinary shares | — | — | — | $0 | $0 | $42.4m | $0 | — | — | — | — | |
| Payable for issuance cost of common share | — | — | $0 | $0 | $375k | $0 | — | — | — | — | — | |
| Advance from customers | — | — | $28k | ($38k) | $3.4m | $4.2m | — | — | — | — | — | |
| Investment in unconsolidated entity | $0 | $0 | ($4.0m) | ($4.2m) | $0 | — | — | — | — | — | — | |
| Refund of capital contribution by a non-controlling shareholder | — | $0 | $0 | ($200k) | $0 | — | — | — | — | — | — | |
| Investment payable in exchange of interest of FGS | — | $0 | $0 | $6.4m | $0 | — | — | — | — | — | — | |
| Reversal of interest expense | — | — | $0 | $0 | ($81k) | — | — | — | — | — | — | |
| Payments for land use right | $0 | $0 | ($1.4m) | $0 | — | — | — | — | — | — | — | |
| Shares issued to settle salary payable | $0 | $0 | $1.6m | $0 | — | — | — | — | — | — | — | |
| Share based compensation | $2.1m | $2.0m | $840k | $9.6m | — | — | — | — | — | — | — | |
| Restricted shares issued for management | $3.6m | $12.9m | $14.6m | $11.6m | — | — | — | — | — | — | — | |
| Loss from warrants redemption | $0 | $0 | — | — | — | — | — | — | — | — | — | |
| Income tax benefit | $546k | $308k | — | — | — | — | — | — | — | — | — | |
| Cash paid during the year for interest | $903k | $84k | — | — | — | — | — | — | — | — | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.