Tritium DCFC Ltd

CIK:0001862490|SEC Filings

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Revenue
Total revenue	$ 184,544	$ 85,821	$ 56,157
Cost of goods sold
Total cost of goods sold	(188,627)	(87,518)	(58,061)
Selling, general and administration expense	(79,571)	(74,323)	(31,624)
Product development expense	(15,466)	(14,031)	(10,521)
Foreign exchange gain/(loss)	(4,344)	(4,208)	(1,436)
Total operating costs and expenses	(99,381)	(92,562)	(43,581)
Loss from operations	(103,464)	(94,259)	(45,485)
Other income (expense), net
Finance costs	(35,048)	(18,136)	(8,795)
Transaction and offering related fees	0	(6,783)	(4,794)
Fair value movements - derivatives and warrants	16,977	(9,782)	(5,947)
Other income	165	61	1,940
Total other expenses	(17,906)	(34,640)	(17,596)
(Loss) before income taxes	(121,370)	(128,899)	(63,081)
Income tax benefit expense	0	(20)	(11)
Net (loss)	(121,370)	(128,919)	(63,092)
Net (loss) per common share
Net (loss) per common share attributable to common shareholders	$ (121,370)	$ (128,919)	$ (63,092)
Basic (in dollars per share)	$ (0.78)	$ (1.02)	$ (0.58)
Diluted (in dollars per share)	$ (0.78)	$ (1.02)	$ (0.58)
Weighted average shares outstanding
Basic (in shares)	155,401,121	126,814,171	99,915,563
Diluted (in shares)	155,401,121	126,814,171	99,915,563
Comprehensive (Loss)
Net (loss)	$ (121,370)	$ (128,919)	$ (63,092)
Other comprehensive income / (loss) (net of tax)
Change in foreign currency translation adjustment	2,780	7,336	(136)
Total other comprehensive income / (loss) (net of tax)	2,780	7,336	(136)
Total comprehensive (loss)	$ (118,590)	$ (121,583)	$ (63,228)
Class C shares
Net (loss) per common share
Basic (in dollars per share)	$ 0		$ (0.58)
Diluted (in dollars per share)	$ 0	$ 0	$ (0.58)
Weighted average shares outstanding
Basic (in shares)	0		8,047,417
Diluted (in shares)			8,047,417
External parties
Other income (expense), net
Finance costs	$ (27,867)	$ (18,136)	$ (8,795)
Related parties
Other income (expense), net
Finance costs	(7,181)		0
Service and maintenance
Revenue
Total revenue	9,267	4,979	2,590
Cost of goods sold
Total cost of goods sold	(5,641)	(3,778)	(2,873)
Hardware revenue
Revenue
Total revenue	175,168	80,832	53,562
Cost of goods sold
Total cost of goods sold	(182,986)	(83,740)	(55,188)
Hardware revenue external parties \| External parties
Revenue
Total revenue	167,965	69,243	32,299
Hardware revenue related parties \| Related parties
Revenue
Total revenue	7,203	11,589	21,263
Service and maintenance revenue external parties \| External parties
Revenue
Total revenue	9,267	4,979	2,590
Software Revenue
Revenue
Total revenue	$ 109	$ 10	$ 5

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net loss	$ (121,370)	$ (128,919)	$ (63,092)
Reconciliation of net loss to net cash used in operating activities
Share-based compensation expense	8,981	28,188	8,371
Foreign exchange gains or losses	86	0	1,436
Transaction costs related to Common Stock purchase agreement	741	0	0
Depreciation expense	2,433	2,198	2,312
Loss on disposal of property, plant and equipment	47	0	0
Borrowing costs	0	1,518	0
Fair value movements - derivatives and warrants	(16,977)	9,782	5,947
Adjustment for capitalized interest	12,130	12,761	8,559
Changes in operating assets and liabilities
Accounts receivable	(13,069)	(16,475)	(1,063)
Inventory	(85,942)	(17,919)	(8,771)
Accounts payable	64,420	3,263	6,619
Employee benefits	444	708	720
Other liabilities	(15,537)	37,020	9,069
Other assets	1,183	(18,965)	(2,567)
Net cash used in operating activities	(162,430)	(86,840)	(32,460)
Cash flows from investing activities
Payments for property, plant and equipment	(8,007)	(7,023)	(2,572)
Proceeds from disposals of property, plant and equipment	56	0	0
Net cash used in investing activities	(7,951)	(7,023)	(2,572)
Cash flows from financing activities
Proceeds from issuance of Common Stock in the Business Combination	0	53,182	0
Proceeds from issuance of Common Stock	1,672	0	0
Transaction costs	0	(3,808)	0
Proceeds from sold Loan Funded Share Plan	690	0	0
Proceeds from the exercise of warrants	0	26,572	0
Proceeds from issuance of Common Stock pursuant to the PIPE Financing	0	15,000	0
Proceeds from issuance of Common Stock pursuant to the Option Agreements	0	45,000	0
Proceeds from borrowings - external parties	56,705	117,527	0
Proceeds from borrowings - related parties	75,423	0	0
Proceeds from convertible notes including derivative	0	0	33,367
Transaction costs for borrowings	(8,178)	(3,888)	0
Repayment of borrowings - external parties	0	(77,351)	0
Repayment of borrowings - related parties	0	(6,414)	0
Waiver of related party's option to acquire Tritium	0	(6,816)	0
Net cash provided by financing activities	126,312	159,004	33,367
Effects of exchange rate changes on cash and cash equivalents	2,737	(545)	120
Net increase / (decrease) in cash and cash equivalents	(44,069)	65,141	(1,665)
Cash and cash equivalents at the beginning of the period	70,753	6,157	7,702
Cash and cash equivalents end of the period	$ 29,421	$ 70,753	$ 6,157

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Assets
Cash and cash equivalents	$ 29,421	$ 70,753
Inventory	140,291	54,349
Prepaid expenses	3,745	4,873
Deposits	17,437	15,675
Total current assets	234,520	176,207
Property, plant and equipment, net	17,833	11,151
Operating lease right of use assets, net	22,823	24,640
Total non-current assets	40,656	35,791
Total assets	275,176	211,998
Liabilities and Shareholders' Deficit
Accounts Payable	71,050	27,049
Transaction and offer related fees	42,593	20,554
Borrowings	11,294	74
Related party borrowings	51,136	0
Contract liabilities	47,127	37,727
Employee benefits	2,997	2,653
Other provisions	3,343	27,623
Obligations under operating leases	3,770	4,020
Financial instruments - derivative	8,399	0
Other current liabilities	1,694	2,939
Warrants	11,627	12,340
Total current liabilities	255,030	134,979
Obligations under operating leases	22,588	25,556
Contract liabilities	5,798	2,231
Employee benefits	317	217
Borrowings	115,744	88,269
Related party borrowings	$ 16,465	$ 0
Notes Payable, Noncurrent, Related Party, Type	Related parties	Related parties
Other provisions	$ 2,889	$ 2,652
Total non-current liabilities	163,801	118,925
Total liabilities	418,831	253,904
Commitments and Contingent liabilities
Shareholders' Deficit
Common stock, no par value, unlimited stock authorized at June 30, 2023, 160,036,639 shares issued (153,094,269 as of June 30, 2022); 142,007,286 shares outstanding as of June 30, 2023 (148,893,898 as of June 30, 2022)	243,065	227,268
Additional paid in capital	20,254	19,210
Accumulated other comprehensive income (loss)	6,420	3,640
Accumulated deficit	(413,394)	(292,024)
Total Shareholders' deficit	(143,655)	(41,906)
Total Liabilities, and Shareholders' deficit	275,176	211,998
Related parties
Assets
Accounts receivable	237	16
External parties
Assets
Accounts receivable	43,389	30,541
Common shares
Shareholders' Deficit
Treasury shares, 3,015,188 as of June 30, 2023 (4,200,371 as of June 30, 2022)	$ 0	$ 0