false Q2 0001719489 --12-31 http://fasb.org/us-gaap/2022#OtherAssetsCurrent http://fasb.org/us-gaap/2022#OtherAssetsCurrent P6Y true P5Y P20D P30D P15Y 0.36 0.13 0.68 0.46 43410858 34292874 42829188 32328909 0.0310 0.0310 0.0290 0.0390 0.0230 0.0310 0.0215 0.0220 0.0200 0.0300 http://fasb.org/us-gaap/2022#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2022#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2022#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2022#OtherLiabilitiesNoncurrent 43410858 34292874 42829188 32328909 0.36 0.13 0.68 0.46 0001719489 2022-01-01 2022-06-30 xbrli:shares 0001719489 2022-08-05 0001719489 us-gaap:CommonStockMember 2022-01-01 2022-06-30 0001719489 us-gaap:WarrantMember 2022-01-01 2022-06-30 iso4217:USD 0001719489 2022-06-30 0001719489 2021-12-31 iso4217:USD xbrli:shares 0001719489 2022-04-01 2022-06-30 0001719489 2021-04-01 2021-06-30 0001719489 2021-01-01 2021-06-30 0001719489 us-gaap:CommonStockMember 2022-03-31 0001719489 us-gaap:AdditionalPaidInCapitalMember 2022-03-31 0001719489 us-gaap:TreasuryStockMember 2022-03-31 0001719489 us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember 2022-03-31 0001719489 us-gaap:RetainedEarningsMember 2022-03-31 0001719489 2022-03-31 0001719489 us-gaap:CommonStockMember 2022-04-01 2022-06-30 0001719489 us-gaap:AdditionalPaidInCapitalMember 2022-04-01 2022-06-30 0001719489 us-gaap:RetainedEarningsMember 2022-04-01 2022-06-30 0001719489 us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember 2022-04-01 2022-06-30 0001719489 us-gaap:CommonStockMember 2022-06-30 0001719489 us-gaap:AdditionalPaidInCapitalMember 2022-06-30 0001719489 us-gaap:TreasuryStockMember 2022-06-30 0001719489 us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember 2022-06-30 0001719489 us-gaap:RetainedEarningsMember 2022-06-30 0001719489 us-gaap:CommonStockMember 2021-03-31 0001719489 us-gaap:AdditionalPaidInCapitalMember 2021-03-31 0001719489 us-gaap:TreasuryStockMember 2021-03-31 0001719489 us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember 2021-03-31 0001719489 us-gaap:RetainedEarningsMember 2021-03-31 0001719489 2021-03-31 0001719489 us-gaap:CommonStockMember 2021-04-01 2021-06-30 0001719489 us-gaap:AdditionalPaidInCapitalMember 2021-04-01 2021-06-30 0001719489 us-gaap:CommonStockMember klr:MGageMember 2021-04-01 2021-06-30 0001719489 us-gaap:AdditionalPaidInCapitalMember klr:MGageMember 2021-04-01 2021-06-30 0001719489 klr:MGageMember 2021-04-01 2021-06-30 0001719489 us-gaap:RetainedEarningsMember 2021-04-01 2021-06-30 0001719489 us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember 2021-04-01 2021-06-30 0001719489 us-gaap:CommonStockMember 2021-06-30 0001719489 us-gaap:AdditionalPaidInCapitalMember 2021-06-30 0001719489 us-gaap:TreasuryStockMember 2021-06-30 0001719489 us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember 2021-06-30 0001719489 us-gaap:RetainedEarningsMember 2021-06-30 0001719489 2021-06-30 0001719489 us-gaap:CommonStockMember 2020-12-31 0001719489 us-gaap:AdditionalPaidInCapitalMember 2020-12-31 0001719489 us-gaap:TreasuryStockMember 2020-12-31 0001719489 us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember 2020-12-31 0001719489 us-gaap:RetainedEarningsMember 2020-12-31 0001719489 2020-12-31 0001719489 us-gaap:CommonStockMember klr:CowenInvestmentsMember 2021-01-01 2021-06-30 0001719489 us-gaap:AdditionalPaidInCapitalMember klr:CowenInvestmentsMember 2021-01-01 2021-06-30 0001719489 klr:CowenInvestmentsMember 2021-01-01 2021-06-30 0001719489 us-gaap:CommonStockMember 2021-01-01 2021-06-30 0001719489 us-gaap:AdditionalPaidInCapitalMember 2021-01-01 2021-06-30 0001719489 us-gaap:CommonStockMember klr:MGageMember 2021-01-01 2021-06-30 0001719489 us-gaap:AdditionalPaidInCapitalMember klr:MGageMember 2021-01-01 2021-06-30 0001719489 klr:MGageMember 2021-01-01 2021-06-30 0001719489 us-gaap:RetainedEarningsMember 2021-01-01 2021-06-30 0001719489 us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember 2021-01-01 2021-06-30 xbrli:pure 0001719489 klr:SponsorsMember 2021-03-16 2021-03-16 0001719489 klr:MGageMember 2021-06-01 0001719489 klr:MGageMember 2021-08-30 0001719489 klr:MGageMember 2021-05-31 2021-06-01 0001719489 klr:MGageMember 2021-08-30 2021-08-30 0001719489 klr:MGageEuropeLtdMember 2021-01-01 2021-06-30 0001719489 klr:BandyerSrlMember 2022-01-01 2022-06-30 0001719489 klr:MGageMember 2022-01-01 2022-06-30 0001719489 klr:BandyerMember 2022-01-01 2022-06-30 0001719489 us-gaap:RestrictedStockUnitsRSUMember 2022-01-01 2022-06-30 0001719489 klr:MGageMember 2021-02-18 2021-02-18 0001719489 klr:MGageMember klr:PIPESubscriptionAgreementsMember 2021-02-18 2021-02-18 0001719489 klr:MGageMember klr:PIPESubscriptionAgreementsMember 2021-02-18 0001719489 klr:MGageEuropeLtdMember 2021-07-01 0001719489 klr:MGageSADeSVMember 2021-07-01 0001719489 klr:BandyerSrlMember 2021-07-08 2021-07-08 0001719489 klr:KaleyraUSIncorporationMember 2021-11-15 0001719489 klr:KaleyraIncorporationMember 2021-11-15 0001719489 klr:PIPESubscriptionAgreementsMember us-gaap:PrivatePlacementMember klr:MGageMember 2021-02-18 0001719489 klr:PIPESubscriptionAgreementsMember klr:MGageMember klr:ConvertibleNotesMember 2021-02-18 0001719489 klr:PIPESubscriptionAgreementsMember klr:MGageMember klr:ConvertibleNotesMember 2021-02-18 2021-02-18 0001719489 klr:CustomersMember us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember 2022-01-01 2022-06-30 0001719489 klr:CustomersMember us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember 2021-01-01 2021-06-30 klr:Customer 0001719489 klr:CustomersMember us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember 2022-01-01 2022-06-30 0001719489 klr:CustomersMember us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember 2021-01-01 2021-12-31 0001719489 klr:CustomerOneMember us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember 2021-01-01 2021-12-31 0001719489 srt:MinimumMember 2022-06-30 0001719489 srt:MaximumMember 2022-06-30 0001719489 klr:MGageMember 2021-01-01 2021-09-30 0001719489 klr:MGageMember 2021-02-18 0001719489 klr:MGageMember klr:AcquiredDevelopedTechnologyMember 2021-07-01 2021-09-30 0001719489 klr:MGageMember 2021-07-01 2021-09-30 0001719489 klr:MGageMember 2022-04-01 2022-06-30 0001719489 us-gaap:CustomerRelationshipsMember srt:MinimumMember klr:MGageMember 2021-02-18 2021-02-18 0001719489 us-gaap:CustomerRelationshipsMember klr:MGageMember srt:MaximumMember 2021-02-18 2021-02-18 0001719489 us-gaap:DevelopedTechnologyRightsMember klr:MGageMember 2021-02-18 2021-02-18 0001719489 us-gaap:TradeNamesMember klr:MGageMember 2021-02-18 2021-02-18 0001719489 us-gaap:GeneralAndAdministrativeExpenseMember klr:MGageMember 2021-01-01 2021-06-30 0001719489 klr:KaleyraUSIncMember 2022-04-01 2022-06-30 0001719489 klr:KaleyraUSIncMember 2022-01-01 2022-06-30 0001719489 klr:BandyerMember 2021-07-07 2021-07-07 iso4217:EUR 0001719489 klr:BandyerMember 2021-07-08 2021-07-08 0001719489 klr:BandyerMember 2022-01-01 2022-03-31 0001719489 klr:BandyerMember 2022-06-30 0001719489 klr:BandyerMember 2021-07-08 0001719489 us-gaap:CustomerRelationshipsMember klr:BandyerMember 2021-07-08 2021-07-08 0001719489 us-gaap:DevelopedTechnologyRightsMember klr:BandyerMember 2021-07-08 2021-07-08 0001719489 klr:KaleyraUSIncMember 2022-04-04 2022-04-04 0001719489 klr:KaleyraUSIncMember 2022-06-30 0001719489 srt:ProFormaMember klr:MGageAndBandyerMember 2021-04-01 2021-06-30 0001719489 srt:ProFormaMember klr:MGageAndBandyerMember 2021-01-01 2021-06-30 0001719489 klr:MGageAndBandyerMember 2022-04-01 2022-06-30 0001719489 klr:MGageAndBandyerMember 2021-04-01 2021-06-30 0001719489 klr:MGageAndBandyerMember 2022-01-01 2022-06-30 0001719489 klr:MGageAndBandyerMember 2021-01-01 2021-06-30 0001719489 srt:ProFormaMember klr:MGageMember 2022-04-01 2022-06-30 0001719489 srt:ProFormaMember klr:MGageMember 2021-04-01 2021-06-30 0001719489 srt:ProFormaMember klr:MGageMember 2022-01-01 2022-06-30 0001719489 srt:ProFormaMember klr:MGageMember 2021-01-01 2021-06-30 0001719489 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MutualFundMember 2022-06-30 0001719489 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MutualFundMember 2022-06-30 0001719489 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CertificatesOfDepositMember 2022-06-30 0001719489 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CertificatesOfDepositMember 2022-06-30 0001719489 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:InterestRateSwapMember 2022-06-30 0001719489 us-gaap:FairValueMeasurementsRecurringMember us-gaap:InterestRateSwapMember 2022-06-30 0001719489 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2022-06-30 0001719489 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2022-06-30 0001719489 us-gaap:FairValueMeasurementsRecurringMember 2022-06-30 0001719489 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember klr:WarrantLiabilityMember 2022-06-30 0001719489 us-gaap:FairValueMeasurementsRecurringMember klr:WarrantLiabilityMember 2022-06-30 0001719489 srt:MinimumMember 2022-01-01 2022-06-30 0001719489 srt:MaximumMember 2022-01-01 2022-06-30 0001719489 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MutualFundMember 2021-12-31 0001719489 us-gaap:FairValueMeasurementsRecurringMember us-gaap:MutualFundMember 2021-12-31 0001719489 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CertificatesOfDepositMember 2021-12-31 0001719489 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CertificatesOfDepositMember 2021-12-31 0001719489 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2021-12-31 0001719489 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2021-12-31 0001719489 us-gaap:FairValueMeasurementsRecurringMember 2021-12-31 0001719489 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:InterestRateSwapMember 2021-12-31 0001719489 us-gaap:FairValueMeasurementsRecurringMember us-gaap:InterestRateSwapMember 2021-12-31 0001719489 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember klr:WarrantLiabilityMember 2021-12-31 0001719489 us-gaap:FairValueMeasurementsRecurringMember klr:WarrantLiabilityMember 2021-12-31 0001719489 srt:MinimumMember 2021-01-01 2021-12-31 0001719489 srt:MaximumMember 2021-01-01 2021-12-31 0001719489 us-gaap:MutualFundMember 2022-06-30 0001719489 us-gaap:CertificatesOfDepositMember 2022-06-30 0001719489 us-gaap:MutualFundMember 2021-12-31 0001719489 us-gaap:CertificatesOfDepositMember 2021-12-31 0001719489 2021-01-01 2021-12-31 0001719489 us-gaap:InterestRateSwapMember us-gaap:NondesignatedMember 2022-06-30 0001719489 us-gaap:InterestRateSwapMember us-gaap:NondesignatedMember 2021-12-31 0001719489 us-gaap:InterestRateSwapMember klr:FinancialIncomeExpenseMember 2022-04-01 2022-06-30 0001719489 us-gaap:InterestRateSwapMember klr:FinancialIncomeExpenseMember 2021-04-01 2021-06-30 0001719489 us-gaap:InterestRateSwapMember klr:FinancialIncomeExpenseMember 2022-01-01 2022-06-30 0001719489 us-gaap:InterestRateSwapMember klr:FinancialIncomeExpenseMember 2021-01-01 2021-06-30 0001719489 us-gaap:InterestRateSwapMember us-gaap:OtherNoncurrentLiabilitiesMember us-gaap:NondesignatedMember 2021-12-31 0001719489 us-gaap:InterestRateSwapMember us-gaap:OtherNoncurrentAssetsMember us-gaap:NondesignatedMember 2022-06-30 0001719489 us-gaap:DevelopedTechnologyRightsMember 2022-06-30 0001719489 us-gaap:CustomerRelationshipsMember 2022-06-30 0001719489 us-gaap:TradeNamesMember 2022-06-30 0001719489 us-gaap:PatentsMember 2022-06-30 0001719489 us-gaap:DevelopedTechnologyRightsMember 2021-12-31 0001719489 us-gaap:CustomerRelationshipsMember 2021-12-31 0001719489 us-gaap:TradeNamesMember 2021-12-31 0001719489 us-gaap:PatentsMember 2021-12-31 0001719489 us-gaap:InterestRateSwapMember 2022-06-30 0001719489 klr:UnicreditSPALineATrancheOneMember 2022-06-30 0001719489 klr:UnicreditSPALineATrancheOneMember 2021-12-31 0001719489 klr:UnicreditSPALineATrancheTwoMember 2022-06-30 0001719489 klr:UnicreditSPALineATrancheTwoMember 2021-12-31 0001719489 klr:UnicreditSPALineBMember 2022-06-30 0001719489 klr:UnicreditSPALineBMember 2021-12-31 0001719489 klr:UnicreditSPALineCMember 2022-06-30 0001719489 klr:UnicreditSPALineCMember 2021-12-31 0001719489 klr:IntesaSanPaoloSPALineOneMember 2021-12-31 0001719489 klr:IntesaSanPaoloSPALineTwoMember 2022-06-30 0001719489 klr:IntesaSanPaoloSPALineTwoMember 2021-12-31 0001719489 klr:IntesaSanPaoloSPALineThreeMember 2022-06-30 0001719489 klr:IntesaSanPaoloSPALineThreeMember 2021-12-31 0001719489 klr:IntesaSanPaoloSPALineFourMember 2022-06-30 0001719489 klr:IntesaSanPaoloSPALineFourMember 2021-12-31 0001719489 klr:MonteDeiPaschiDiSienaSPALine1Member 2021-12-31 0001719489 klr:MonteDeiPaschiDiSienaSPALine2Member 2022-06-30 0001719489 klr:MonteDeiPaschiDiSienaSPALine2Member 2021-12-31 0001719489 klr:BancoBPMSPALineOneMember 2022-06-30 0001719489 klr:BancoBPMSPALineOneMember 2021-12-31 0001719489 klr:BancoBPMSPALineThreeMember 2022-06-30 0001719489 klr:BancoBPMSPALineThreeMember 2021-12-31 0001719489 klr:SimestOneMember 2022-06-30 0001719489 klr:SimestOneMember 2021-12-31 0001719489 klr:SimestTwoMember 2022-06-30 0001719489 klr:SimestTwoMember 2021-12-31 0001719489 klr:SimestThreeMember 2022-06-30 0001719489 klr:SimestThreeMember 2021-12-31 0001719489 klr:SimestFourMember 2022-06-30 0001719489 klr:SimestFourMember 2021-12-31 0001719489 klr:UnicreditSPALineATrancheOneMember 2022-01-01 2022-06-30 0001719489 klr:UnicreditSPALineATrancheTwoMember 2022-01-01 2022-06-30 0001719489 klr:UnicreditSPALineBMember 2022-01-01 2022-06-30 0001719489 klr:UnicreditSPALineCMember 2022-01-01 2022-06-30 0001719489 klr:IntesaSanPaoloSPALineOneMember 2022-01-01 2022-06-30 0001719489 klr:IntesaSanPaoloSPALineTwoMember 2022-01-01 2022-06-30 0001719489 klr:IntesaSanPaoloSPALineThreeMember 2022-01-01 2022-06-30 0001719489 klr:IntesaSanPaoloSPALineFourMember 2022-01-01 2022-06-30 0001719489 klr:MonteDeiPaschiDiSienaSPALine1Member 2022-01-01 2022-06-30 0001719489 klr:MonteDeiPaschiDiSienaSPALine2Member 2022-01-01 2022-06-30 0001719489 klr:BancoBPMSPALineOneMember 2022-01-01 2022-06-30 0001719489 klr:BancoBPMSPALineThreeMember 2022-01-01 2022-06-30 0001719489 klr:SimestOneMember 2022-01-01 2022-06-30 0001719489 klr:SimestTwoMember 2022-01-01 2022-06-30 0001719489 klr:SimestThreeMember 2022-01-01 2022-06-30 0001719489 klr:SimestFourMember 2022-01-01 2022-06-30 0001719489 klr:IntesaSanPaoloSPALineOneMember 2022-06-30 0001719489 klr:MonteDeiPaschiDiSienaSPALine1Member 2022-06-30 0001719489 klr:IntesaSanPaoloSPAMember klr:KaleyraIncorporationMember klr:UnsecuredLoanAgreementMember 2022-01-01 2022-06-30 0001719489 klr:IntesaSanPaoloSPAMember klr:KaleyraIncorporationMember klr:UnsecuredLoanAgreementMember 2021-08-02 2021-08-03 0001719489 klr:GeneralUnsecuredLoanAgreementMember klr:SimestSPAMember 2021-04-15 0001719489 klr:GeneralUnsecuredLoanAgreementMember klr:FundForIntegratedPromotionMember 2021-04-15 0001719489 klr:GeneralUnsecuredLoanAgreementMember klr:FundForIntegratedPromotionMember 2021-09-15 0001719489 klr:GeneralUnsecuredLoanAgreementMember klr:Fund39481Member 2021-04-15 0001719489 klr:GeneralUnsecuredLoanAgreementMember klr:Fund39481Member 2021-09-15 0001719489 klr:GeneralUnsecuredLoanAgreementMember 2021-04-15 2021-04-15 0001719489 klr:GeneralUnsecuredLoanAgreementMember 2022-01-01 2022-06-30 0001719489 klr:EsseEffeSPAMember 2019-11-25 2019-11-25 0001719489 klr:MayaInvestmentsLimitedMember 2019-11-25 2019-11-25 0001719489 klr:NonConvertibleUnsecuredPromissoryNotesMember 2022-06-30 0001719489 klr:EsseEffeSPAMember klr:ConvertibleNotesMember 2022-06-30 0001719489 klr:MayaInvestmentsLimitedMember klr:ConvertibleNotesMember 2022-06-30 0001719489 klr:ConvertibleUnsecuredPromissoryNotesMember 2022-01-01 2022-06-30 0001719489 klr:EsseEffeSPAMember klr:ConvertibleUnsecuredPromissoryNotesMember 2022-06-30 0001719489 klr:MayaInvestmentsLimitedMember klr:ConvertibleUnsecuredPromissoryNotesMember 2022-06-30 0001719489 klr:ConvertibleUnsecuredPromissoryNotesMember 2022-06-30 0001719489 klr:MayaInvestmentsLimitedMember klr:ConvertibleUnsecuredPromissoryNotesMember 2021-06-02 0001719489 klr:MayaInvestmentsLimitedMember klr:ConvertibleUnsecuredPromissoryNotesMember 2021-05-31 2021-06-02 0001719489 klr:EsseEffeSPAMember 2021-06-02 0001719489 klr:EsseEffeSPAMember 2021-05-31 2021-06-02 0001719489 klr:CowenAndCompanyLimitedLiabilityCompanyAndChardanCapitalMarketsLimitedLiabilityCompanyMember 2020-04-16 2020-04-16 0001719489 klr:ResaleRegistrationStatementMember klr:CowenAndCompanyLimitedLiabilityCompanyAndChardanCapitalMarketsLimitedLiabilityCompanyMember 2020-04-16 0001719489 klr:ResaleRegistrationStatementMember klr:ConvertibleNotesMember klr:CowenAndCompanyLimitedLiabilityCompanyAndChardanCapitalMarketsLimitedLiabilityCompanyMember 2020-04-16 0001719489 klr:ResaleRegistrationStatementMember klr:ConvertibleNotesMember klr:CowenAndCompanyLimitedLiabilityCompanyAndChardanCapitalMarketsLimitedLiabilityCompanyMember 2020-04-16 2020-04-16 0001719489 klr:ResaleRegistrationStatementMember klr:CowenAndCompanyLimitedLiabilityCompanyAndChardanCapitalMarketsLimitedLiabilityCompanyMember 2020-04-16 2020-04-16 utr:D 0001719489 klr:CowenInvestmentsAndChardanMember 2020-05-01 0001719489 klr:CowenInvestmentsMember 2020-05-01 0001719489 klr:ChardanMember 2020-05-01 0001719489 klr:ChardanMember 2020-05-01 2020-05-01 0001719489 klr:CowenInvestmentsMember 2020-05-01 2020-05-01 0001719489 2020-05-01 0001719489 klr:CowenInvestmentsMember 2021-02-04 2021-02-04 0001719489 klr:CowenInvestmentsMember 2021-02-04 0001719489 klr:ChardanMember 2022-06-30 0001719489 us-gaap:OtherCurrentLiabilitiesMember klr:ChardanMember 2022-06-30 0001719489 klr:ConvertibleNotesMember 2021-06-01 0001719489 klr:ConvertibleNotesMember klr:WilmingtonTrustNationalAssociationMember 2022-06-30 0001719489 klr:ConvertibleNotesMember 2022-06-30 0001719489 klr:ConvertibleNotesMember 2022-01-01 2022-06-30 0001719489 klr:ConvertibleNotesMember klr:FirstAnniversaryMember 2022-01-01 2022-06-30 0001719489 klr:ConvertibleNotesMember klr:SecondAnniversaryMember 2022-01-01 2022-06-30 0001719489 klr:ConvertibleNotesMember 2022-04-01 2022-06-30 0001719489 us-gaap:AccumulatedTranslationAdjustmentMember 2021-12-31 0001719489 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2021-12-31 0001719489 us-gaap:AccumulatedTranslationAdjustmentMember 2022-01-01 2022-03-31 0001719489 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2022-01-01 2022-03-31 0001719489 us-gaap:AccumulatedTranslationAdjustmentMember 2022-03-31 0001719489 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2022-03-31 0001719489 us-gaap:AccumulatedTranslationAdjustmentMember 2022-04-01 2022-06-30 0001719489 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2022-04-01 2022-06-30 0001719489 us-gaap:AccumulatedTranslationAdjustmentMember 2022-06-30 0001719489 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2022-06-30 0001719489 us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember 2021-12-31 0001719489 us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember 2022-01-01 2022-03-31 0001719489 us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember 2021-01-01 2021-03-31 0001719489 us-gaap:AccumulatedTranslationAdjustmentMember 2020-12-31 0001719489 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-12-31 0001719489 us-gaap:AccumulatedTranslationAdjustmentMember 2021-01-01 2021-03-31 0001719489 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2021-01-01 2021-03-31 0001719489 us-gaap:AccumulatedTranslationAdjustmentMember 2021-03-31 0001719489 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2021-03-31 0001719489 us-gaap:AccumulatedTranslationAdjustmentMember 2021-04-01 2021-06-30 0001719489 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2021-04-01 2021-06-30 0001719489 us-gaap:AccumulatedTranslationAdjustmentMember 2021-06-30 0001719489 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2021-06-30 0001719489 us-gaap:InterestRateSwapMember 2021-12-31 0001719489 country:US 2022-04-01 2022-06-30 0001719489 country:US 2021-04-01 2021-06-30 0001719489 country:US 2022-01-01 2022-06-30 0001719489 country:US 2021-01-01 2021-06-30 0001719489 stpr:IN 2022-04-01 2022-06-30 0001719489 stpr:IN 2021-04-01 2021-06-30 0001719489 stpr:IN 2022-01-01 2022-06-30 0001719489 stpr:IN 2021-01-01 2021-06-30 0001719489 country:IT 2022-04-01 2022-06-30 0001719489 country:IT 2021-04-01 2021-06-30 0001719489 country:IT 2022-01-01 2022-06-30 0001719489 country:IT 2021-01-01 2021-06-30 0001719489 klr:EuropeExcludingItalyMember 2022-04-01 2022-06-30 0001719489 klr:EuropeExcludingItalyMember 2021-04-01 2021-06-30 0001719489 klr:EuropeExcludingItalyMember 2022-01-01 2022-06-30 0001719489 klr:EuropeExcludingItalyMember 2021-01-01 2021-06-30 0001719489 srt:SouthAmericaMember 2022-04-01 2022-06-30 0001719489 srt:SouthAmericaMember 2021-04-01 2021-06-30 0001719489 srt:SouthAmericaMember 2022-01-01 2022-06-30 0001719489 srt:SouthAmericaMember 2021-01-01 2021-06-30 0001719489 klr:OtherCountriesMember 2022-04-01 2022-06-30 0001719489 klr:OtherCountriesMember 2021-04-01 2021-06-30 0001719489 klr:OtherCountriesMember 2022-01-01 2022-06-30 0001719489 klr:OtherCountriesMember 2021-01-01 2021-06-30 0001719489 country:US us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2022-04-01 2022-06-30 0001719489 country:US us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2021-04-01 2021-06-30 0001719489 country:US us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2022-01-01 2022-06-30 0001719489 country:US us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2021-01-01 2021-06-30 0001719489 stpr:IN us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2022-04-01 2022-06-30 0001719489 stpr:IN us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2021-04-01 2021-06-30 0001719489 stpr:IN us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2022-01-01 2022-06-30 0001719489 stpr:IN us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2021-01-01 2021-06-30 0001719489 country:IT us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2022-04-01 2022-06-30 0001719489 country:IT us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2021-04-01 2021-06-30 0001719489 country:IT us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2022-01-01 2022-06-30 0001719489 country:IT us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2021-01-01 2021-06-30 0001719489 klr:EuropeExcludingItalyMember us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2022-04-01 2022-06-30 0001719489 klr:EuropeExcludingItalyMember us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2021-04-01 2021-06-30 0001719489 klr:EuropeExcludingItalyMember us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2022-01-01 2022-06-30 0001719489 klr:EuropeExcludingItalyMember us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2021-01-01 2021-06-30 0001719489 srt:SouthAmericaMember us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2022-04-01 2022-06-30 0001719489 srt:SouthAmericaMember us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2021-04-01 2021-06-30 0001719489 srt:SouthAmericaMember us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2022-01-01 2022-06-30 0001719489 srt:SouthAmericaMember us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2021-01-01 2021-06-30 0001719489 klr:OtherCountriesMember us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2022-04-01 2022-06-30 0001719489 klr:OtherCountriesMember us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2021-04-01 2021-06-30 0001719489 klr:OtherCountriesMember us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2022-01-01 2022-06-30 0001719489 klr:OtherCountriesMember us-gaap:GeographicConcentrationRiskMember us-gaap:RevenueFromContractWithCustomerMember 2021-01-01 2021-06-30 0001719489 country:US 2022-06-30 0001719489 country:US 2021-12-31 0001719489 country:IT 2022-06-30 0001719489 country:IT 2021-12-31 0001719489 stpr:IN 2022-06-30 0001719489 stpr:IN 2021-12-31 0001719489 klr:OtherCountriesMember 2022-06-30 0001719489 klr:OtherCountriesMember 2021-12-31 0001719489 country:US us-gaap:GeographicConcentrationRiskMember klr:NonCurrentAssetsMember 2022-01-01 2022-06-30 0001719489 country:US us-gaap:GeographicConcentrationRiskMember klr:NonCurrentAssetsMember 2021-01-01 2021-12-31 0001719489 country:IT us-gaap:GeographicConcentrationRiskMember klr:NonCurrentAssetsMember 2022-01-01 2022-06-30 0001719489 country:IT us-gaap:GeographicConcentrationRiskMember klr:NonCurrentAssetsMember 2021-01-01 2021-12-31 0001719489 stpr:IN us-gaap:GeographicConcentrationRiskMember klr:NonCurrentAssetsMember 2022-01-01 2022-06-30 0001719489 stpr:IN us-gaap:GeographicConcentrationRiskMember klr:NonCurrentAssetsMember 2021-01-01 2021-12-31 0001719489 klr:OtherCountriesMember us-gaap:GeographicConcentrationRiskMember klr:NonCurrentAssetsMember 2022-01-01 2022-06-30 0001719489 klr:OtherCountriesMember us-gaap:GeographicConcentrationRiskMember klr:NonCurrentAssetsMember 2021-01-01 2021-12-31 0001719489 klr:OfficeMember 2022-01-01 2022-06-30 0001719489 klr:OfficeMember 2022-06-30 0001719489 us-gaap:RestrictedStockUnitsRSUMember 2021-12-31 0001719489 us-gaap:RestrictedStockUnitsRSUMember 2022-06-30 0001719489 us-gaap:RestrictedStockUnitsRSUMember 2022-04-01 2022-06-30 0001719489 us-gaap:ResearchAndDevelopmentExpenseMember us-gaap:RestrictedStockUnitsRSUMember 2022-04-01 2022-06-30 0001719489 us-gaap:ResearchAndDevelopmentExpenseMember us-gaap:RestrictedStockUnitsRSUMember 2021-04-01 2021-06-30 0001719489 us-gaap:ResearchAndDevelopmentExpenseMember us-gaap:RestrictedStockUnitsRSUMember 2022-01-01 2022-06-30 0001719489 us-gaap:ResearchAndDevelopmentExpenseMember us-gaap:RestrictedStockUnitsRSUMember 2021-01-01 2021-06-30 0001719489 us-gaap:SellingAndMarketingExpenseMember us-gaap:RestrictedStockUnitsRSUMember 2022-04-01 2022-06-30 0001719489 us-gaap:SellingAndMarketingExpenseMember us-gaap:RestrictedStockUnitsRSUMember 2021-04-01 2021-06-30 0001719489 us-gaap:SellingAndMarketingExpenseMember us-gaap:RestrictedStockUnitsRSUMember 2022-01-01 2022-06-30 0001719489 us-gaap:SellingAndMarketingExpenseMember us-gaap:RestrictedStockUnitsRSUMember 2021-01-01 2021-06-30 0001719489 us-gaap:GeneralAndAdministrativeExpenseMember us-gaap:RestrictedStockUnitsRSUMember 2022-04-01 2022-06-30 0001719489 us-gaap:GeneralAndAdministrativeExpenseMember us-gaap:RestrictedStockUnitsRSUMember 2021-04-01 2021-06-30 0001719489 us-gaap:GeneralAndAdministrativeExpenseMember us-gaap:RestrictedStockUnitsRSUMember 2022-01-01 2022-06-30 0001719489 us-gaap:GeneralAndAdministrativeExpenseMember us-gaap:RestrictedStockUnitsRSUMember 2021-01-01 2021-06-30 0001719489 us-gaap:RestrictedStockUnitsRSUMember 2021-04-01 2021-06-30 0001719489 us-gaap:RestrictedStockUnitsRSUMember 2021-01-01 2021-06-30 0001719489 us-gaap:RestrictedStockUnitsRSUMember 2022-01-01 2022-03-31 0001719489 us-gaap:WarrantMember 2022-06-30 0001719489 us-gaap:WarrantMember 2022-01-01 2022-06-30 0001719489 us-gaap:WarrantMember 2022-04-01 2022-06-30 0001719489 klr:WarrantRepurchaseAgreementsMember 2021-08-24 0001719489 klr:WarrantRepurchaseAgreementsMember 2021-08-24 2021-08-24 0001719489 klr:EsseEffeAndMayaMember 2021-06-02 0001719489 klr:AccruedInterestMember klr:EsseEffeAndMayaMember 2021-06-02 0001719489 klr:EsseEffeAndMayaMember 2022-06-30 0001719489 klr:StudioLegaleChiomentiMember klr:LegalServicesMember 2022-04-01 2022-06-30 0001719489 klr:StudioLegaleChiomentiMember klr:LegalServicesMember 2022-01-01 2022-06-30 0001719489 klr:StudioLegaleChiomentiMember klr:LegalServicesMember 2021-04-01 2021-06-30 0001719489 klr:StudioLegaleChiomentiMember klr:LegalServicesMember 2021-01-01 2021-06-30 0001719489 klr:EmployeeMember klr:KaleyraSPAMember 2022-04-01 2022-06-30 0001719489 klr:EmployeeMember klr:KaleyraSPAMember 2022-01-01 2022-06-30 0001719489 klr:EmployeeMember klr:KaleyraSPAMember 2021-04-01 2021-06-30 0001719489 klr:EmployeeMember klr:KaleyraSPAMember 2021-01-01 2021-06-30 0001719489 klr:PietroCalogeroMember klr:KaleyraSPAMember 2022-04-01 2022-06-30 0001719489 klr:PietroCalogeroMember klr:KaleyraSPAMember 2022-01-01 2022-06-30 0001719489 klr:PietroCalogeroMember klr:KaleyraSPAMember 2021-04-01 2021-06-30 0001719489 klr:PietroCalogeroMember klr:KaleyraSPAMember 2021-01-01 2021-06-30 0001719489 us-gaap:ResearchAndDevelopmentExpenseMember 2022-04-01 2022-06-30 0001719489 us-gaap:ResearchAndDevelopmentExpenseMember 2021-04-01 2021-06-30 0001719489 us-gaap:ResearchAndDevelopmentExpenseMember 2022-01-01 2022-06-30 0001719489 us-gaap:ResearchAndDevelopmentExpenseMember 2021-01-01 2021-06-30 0001719489 us-gaap:SellingAndMarketingExpenseMember 2022-04-01 2022-06-30 0001719489 us-gaap:SellingAndMarketingExpenseMember 2021-04-01 2021-06-30 0001719489 us-gaap:SellingAndMarketingExpenseMember 2022-01-01 2022-06-30 0001719489 us-gaap:SellingAndMarketingExpenseMember 2021-01-01 2021-06-30 0001719489 us-gaap:GeneralAndAdministrativeExpenseMember 2022-01-01 2022-06-30 0001719489 us-gaap:GeneralAndAdministrativeExpenseMember 2021-01-01 2021-06-30 0001719489 klr:FinancialIncomeExpenseNetMember 2021-04-01 2021-06-30 0001719489 klr:FinancialIncomeExpenseNetMember 2021-01-01 2021-06-30 0001719489 klr:UnsecuredLoanAgreementMember 2022-07-28 0001719489 klr:UnsecuredLoanAgreementMember 2022-07-28 2022-07-28

  

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2022 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission File Number: 001-38320

 

KALEYRA, INC.

(Exact name of registrant as specified in its charter)

 

 

Delaware

 

82-3027430

(State or other jurisdiction of
incorporation or organization)

 

(I.R.S. Employer
Identification Number)

 

17 State Street, New York, NY

 

10004

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: +1 917 508 9185

(Former name or former address, if changed since last report): N/A

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbols

 

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

 

KLR

 

New York Stock Exchange

Warrants, at an exercise price of $11.50 per share of Common Stock

 

KLR WS

 

NYSE American LLC

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  

Indicate by checkmark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files)    Yes      No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, or an emerging growth company.  See definitions of “large accelerated filer”, “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.:

 

Large accelerated filer

 

 

Accelerated filer

Non-accelerated filer

 

 

Smaller reporting company

 

 

 

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  ☒

As of August 5, 2022, there were 44,344,364 shares of the Company’s common stock issued and outstanding.

 


 

 

KALEYRA, INC.

Quarterly Report on Form 10-Q

Table of Contents

 

PART I – FINANCIAL INFORMATION

Page

 

 

Item 1.

Condensed Consolidated Financial Statements (unaudited):

1

 

 

 

 

Condensed Consolidated Balance Sheets

1

 

 

 

 

Condensed Consolidated Statements of Operations

2

 

 

 

 

Condensed Consolidated Statements of Comprehensive Loss

3

 

 

 

 

Condensed Consolidated Statements of Stockholders’ Equity (Deficit)

4

 

 

 

 

Condensed Consolidated Statements of Cash Flows

6

 

 

 

 

Notes to Condensed Consolidated Financial Statements

8

 

 

 

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

30

 

 

 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

43

 

 

 

Item 4.

Controls and Procedures

43

 

 

 

PART II – OTHER INFORMATION

 

 

 

 

Item 1.

Legal Proceedings

44

 

 

 

Item 1A.

Risk Factors

45

 

 

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

45

 

 

 

Item 3.

Defaults Upon Senior Securities

45

 

 

 

Item 4.

Mine Safety Disclosures

46

 

 

 

Item 5.

Other Information

46

 

 

 

Item 6.

Exhibits

47

 

 

 

Signatures

48

 

 

 


 

Item 1 – Financial Statements

KALEYRA, INC.

Condensed Consolidated Balance Sheets

(Unaudited, in thousands, except share and per share data)

 

 

 

June 30, 2022

 

 

December 31, 2021

 

ASSETS

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

73,622

 

 

$

90,001

 

Restricted cash

 

 

468

 

 

 

1,701

 

Short-term investments

 

 

680

 

 

 

6,236

 

Trade receivables, net

 

 

95,768

 

 

 

85,945

 

Deferred cost

 

 

329

 

 

 

341

 

Prepaid expenses

 

 

4,340

 

 

 

5,357

 

Other current assets

 

 

1,436

 

 

 

2,599

 

Total current assets

 

 

176,643

 

 

 

192,180

 

Property and equipment, net

 

 

20,384

 

 

 

18,811

 

Intangible assets, net

 

 

115,146

 

 

 

125,396

 

Goodwill

 

 

111,893

 

 

 

110,465

 

Deferred tax assets

 

 

376

 

 

 

1,230

 

Other long-term assets

 

 

1,525

 

 

 

399

 

Total Assets

 

$

425,967

 

 

$

448,481

 

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

71,934

 

 

$

70,942

 

Lines of credit

 

 

3,182

 

 

 

5,256

 

Current portion of bank and other borrowings

 

 

10,581

 

 

 

10,508

 

Current portion of notes payable

 

 

405

 

 

 

 

Deferred revenue

 

 

6,934

 

 

 

9,553

 

Payroll and payroll related accrued liabilities

 

 

6,567

 

 

 

6,907

 

Other current liabilities

 

 

6,327

 

 

 

8,274

 

Total current liabilities

 

 

105,930

 

 

 

111,440

 

Long-term portion of bank and other borrowings

 

 

15,928

 

 

 

22,910

 

Long-term portion of notes payable

 

 

190,733

 

 

 

190,147

 

Long-term portion of employee benefit obligation

 

 

2,377

 

 

 

2,338

 

Deferred tax liabilities

 

 

5,205

 

 

 

2,384

 

Other long-term liabilities

 

 

892

 

 

 

1,840

 

Total Liabilities

 

 

321,065

 

 

 

331,059

 

Commitments and contingencies (Note 13)

 

 

 

 

 

 

 

 

Stockholders’ equity (deficit):

 

 

 

 

 

 

 

 

Preferred stock, par value of $0.0001 per share; 1,000,000 shares authorized; no shares issued or outstanding

 

 

 

 

 

 

Common stock, par value of $0.0001 per share; 100,000,000 shares authorized as of June 30, 2022 and December 31, 2021; 47,142,422 shares issued and 44,344,364 shares outstanding as of June 30, 2022 and 44,831,695 shares issued and 42,033,637 shares outstanding as of December 31, 2021

 

 

5

 

 

 

4

 

Additional paid-in capital

 

 

270,672

 

 

 

251,659

 

Treasury stock, at cost; 2,798,058 shares as of June 30, 2022 and December 31, 2021

 

 

(30,431

)

 

 

(30,431

)

Accumulated other comprehensive loss

 

 

(4,535

)

 

 

(2,010

)

Accumulated deficit

 

 

(130,809

)

 

 

(101,800

)

Total stockholders’ equity

 

 

104,902

 

 

 

117,422

 

Total liabilities and stockholders’ equity (deficit)

 

$

425,967

 

 

$

448,481

 

__________________

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

1


 

KALEYRA, INC.

Condensed Consolidated Statements of Operations

(Unaudited, in thousands, except share and per share data)

 

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Revenue

 

$

81,109

 

 

$

53,992

 

 

$

161,590

 

 

$

93,706

 

Cost of revenue

 

 

62,459

 

 

 

43,529

 

 

 

125,202

 

 

 

76,919

 

Gross profit

 

 

18,650

 

 

 

10,463

 

 

 

36,388

 

 

 

16,787

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

6,265

 

 

 

4,282

 

 

 

11,155

 

 

 

7,150

 

Sales and marketing

 

 

7,226

 

 

 

4,660

 

 

 

14,326

 

 

 

7,519

 

General and administrative

 

 

16,594

 

 

 

12,364

 

 

 

31,974

 

 

 

22,966

 

Total operating expenses

 

 

30,085

 

 

 

21,306

 

 

 

57,455

 

 

 

37,635

 

Loss from operations

 

 

(11,435

)

 

 

(10,843

)

 

 

(21,067

)

 

 

(20,848

)

Other income, net

 

 

37

 

 

 

47

 

 

 

83

 

 

 

92

 

Financial expense, net

 

 

(3,417

)

 

 

(908

)

 

 

(6,569

)

 

 

(1,627

)

Foreign currency income (loss)

 

 

(1,117

)

 

 

(191

)

 

 

(860

)

 

 

164

 

Loss before income tax expense (benefit)

 

 

(15,932

)

 

 

(11,895

)

 

 

(28,413

)

 

 

(22,219

)

Income tax expense (benefit)

 

 

(95

)

 

 

(7,408

)

 

 

596

 

 

 

(7,374

)

Net loss

 

$

(15,837

)

 

$

(4,487

)

 

$

(29,009

)

 

$

(14,845

)

Net loss per common share, basic and diluted

 

$

(0.36

)

 

$

(0.13

)

 

$

(0.68

)

 

$

(0.46

)

Weighted-average shares used in computing net loss per common share, basic and diluted

 

 

43,410,858

 

 

 

34,292,874

 

 

 

42,829,188

 

 

 

32,328,909

 

 

 

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

2


 

KALEYRA, INC.

Condensed Consolidated Statements of Comprehensive Loss

(Unaudited, in thousands)

 

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Net loss

 

$

(15,837

)

 

$

(4,487

)

 

$

(29,009

)

 

$

(14,845

)

Other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

 

(1,900

)

 

 

(602

)

 

 

(2,534

)

 

 

503

 

Net change in unrealized gain on marketable securities, net of tax

 

 

4

 

 

 

23

 

 

 

9

 

 

 

19

 

Total other comprehensive income (loss)

 

 

(1,896

)

 

 

(579

)

 

 

(2,525

)

 

 

522

 

Total comprehensive loss

 

$

(17,733

)

 

$

(5,066

)

 

$

(31,534

)

 

$

(14,323

)

 

 

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

3


 

 

KALEYRA, INC.

Condensed Consolidated Statements of Stockholders’ Equity (Deficit)

(Unaudited, in thousands, except share data)

 

 

 

Three Months Ended June 30, 2022

 

 

 

Common Stock

 

 

Additional

Paid-in

 

 

Treasury Stock

 

 

Accumulated

Other

Comprehensive

 

 

Accumulated

 

 

Total

Stockholders'

Equity

 

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Shares

 

 

Amount

 

 

Income (Loss)

 

 

Deficit

 

 

(Deficit)

 

Balance as of March 31, 2022

 

 

42,361,833

 

 

$

4

 

 

$

258,418

 

 

 

2,798,058

 

 

$

(30,431

)

 

$

(2,639

)

 

$

(114,972

)

 

$

110,380

 

Stock-based compensation (RSUs)

 

 

1,982,531

 

 

 

1

 

 

 

12,254

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12,255

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(15,837

)

 

 

(15,837

)

Other comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,896

)

 

 

 

 

 

(1,896

)

Balance as of June 30, 2022

 

 

44,344,364

 

 

$

5

 

 

$

270,672

 

 

 

2,798,058

 

 

$

(30,431

)

 

$

(4,535

)

 

$

(130,809

)

 

$

104,902

 

 

 

 

 

Three Months Ended June 30, 2021

 

 

 

Common Stock

 

 

Additional

Paid-in

 

 

Treasury Stock

 

 

Accumulated

Other

Comprehensive

 

 

Accumulated

 

 

Total

Stockholders'

Equity

 

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Shares

 

 

Amount

 

 

Income (Loss)

 

 

Deficit

 

 

(Deficit)

 

Balance as of March 31, 2021

 

 

30,930,617

 

 

$

3

 

 

$

122,252

 

 

 

2,798,058

 

 

$

(30,431

)

 

$

(1,725

)

 

$

(78,161

)

 

$

11,938

 

Stock-based compensation (RSUs)

 

 

376,719

 

 

 

 

 

 

5,318

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,318

 

Proceeds from issuance of common stock in Private Investment in Public Equity offering, net of issuance costs

 

 

8,400,000

 

 

 

1

 

 

 

99,050

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

99,051

 

Common stock issued to Vivial equity holders (mGage acquisition) (2)

 

 

1,600,000

 

 

 

 

 

 

18,832

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18,832

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(4,487

)

 

 

(4,487

)

Other comprehensive income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(579

)

 

 

 

 

 

(579

)

Balance as of June 30, 2021

 

 

41,307,336

 

 

$

4

 

 

$

245,452

 

 

 

2,798,058

 

 

$

(30,431

)

 

$

(2,304

)

 

$

(82,648

)

 

$

130,073

 

 

 

 

 

Six Months Ended June 30, 2022

 

 

 

Common Stock

 

 

Additional

Paid-in

 

 

Treasury Stock

 

 

Accumulated

Other

Comprehensive

 

 

Accumulated

 

 

Total

Stockholders'

Equity

 

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Shares

 

 

Amount

 

 

Income (Loss)

 

 

Deficit

 

 

(Deficit)

 

Balance as of December 31, 2021

 

 

42,033,637

 

 

$

4

 

 

$

251,659

 

 

 

2,798,058

 

 

$

(30,431

)

 

$

(2,010

)

 

$

(101,800

)

 

$

117,422

 

Stock-based compensation (RSUs)

 

 

2,310,727

 

 

 

1

 

 

 

19,013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19,014

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(29,009

)

 

 

(29,009

)

Other comprehensive income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,525

)

 

 

 

 

 

(2,525

)

Balance as of June 30, 2022

 

 

44,344,364

 

 

$

5

 

 

$

270,672

 

 

 

2,798,058

 

 

$

(30,431

)

 

$

(4,535

)

 

$

(130,809

)

 

$

104,902

 

 

4


 

 

 

 

 

Six Months Ended June 30, 2021

 

 

 

Common Stock

 

 

Additional

Paid-in

 

 

Treasury Stock

 

 

Accumulated

Other

Comprehensive

 

 

Accumulated

 

 

Total

Stockholders'

Equity

 

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Shares

 

 

Amount

 

 

Income (Loss)

 

 

Deficit

 

 

(Deficit)

 

Balance as of December 31, 2020

 

 

30,288,687

 

 

$

3

 

 

$

93,628

 

 

 

2,798,058

 

 

$

(30,431

)

 

$

(2,826

)

 

$

(67,803

)

 

$

(7,429

)

Conversion of Cowen Note

 

 

303,171

 

 

 

 

 

 

2,295

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,295

 

Forfeiture of 2020 Sponsors' Earnout Shares (1)