Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.20.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Income Statement [Abstract]    
Revenue $ 33,633,000 $ 27,725,000
Cost of revenue 28,902,000 22,476,000
Gross profit 4,731,000 5,249,000
Operating expenses:    
Research and development 2,810,000 1,196,000
Sales and marketing 3,743,000 1,472,000
General and administrative 7,759,000 3,779,000
Total operating expenses 14,312,000 6,447,000
Loss from operations (9,581,000) (1,198,000)
Other income, net 42,000 82,000
Financial income (expense), net (41,000) 70,000
Foreign currency income (loss) 168,000 (254,000)
Loss before income tax expense (benefit) (9,412,000) (1,300,000)
Income tax expense (benefit) (589,000) 79,000
Net loss $ (8,823,000) $ (1,379,000)
Net loss per common share basic and diluted [1] $ (0.44) $ (0.13)
Weighted-average shares used in computing net loss per common share basic and diluted [1] 19,979,589 10,687,106
[1] Amounts for the three months ended March 31, 2019 were retrospectively adjusted as a result of the accounting for the Business Combination (as defined below in the notes). Specifically, the number of common shares outstanding during periods before the Business Combination are computed on the basis of the number of common shares of Kaleyra S.p.A. (accounting acquiror) during those periods multiplied by the exchange ratio established in the stock purchase agreement. Common stock and net loss per share, basic and diluted were retrospectively adjusted accordingly.