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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current Assets:    
Cash and cash equivalents $ 21,489 $ 26,865
Restricted cash - current portion 123 150
Trade accounts receivable, net of allowance 52,652 48,752
Inventories 1,691 1,335
Contract assets 13,917 7,478
Notes receivable, current portion 1,442 3,536
Prepaid expenses and other current assets 7,840 6,919
Assets held for sale, current portion 3,198 6,679
Total current assets 102,352 101,714
Property and equipment, less accumulated depreciation 22,930 29,638
Investment 1,063 1,063
Right of use assets - Operating leases 16,588 18,247
Right of use assets - Financing leases 8,394 14,702
Goodwill 7,006 100,899
Other intangible assets, net 111,134 142,656
Restricted cash, noncurrent portion 486 1,026
Note receivable 0 836
Deposits and other assets 1,618 1,558
Total assets 271,571 412,339
Current Liabilities:    
Accounts payable 41,333 10,111
Notes payable, current 144,708 72,774
Line of credit 4,000 2,500
Operating lease obligations - current portion 4,540 4,674
Financing lease obligations - current portion 5,316 4,939
Accrued expenses 39,065 28,301
Contract liabilities 10,218 6,503
Financial instrument liability, current portion 43,693 825
Liabilities held for sale, current portion 0 4,367
Total current liabilities 292,873 134,994
Financial instrument liability, noncurrent portion 536 0
Warrant liability 1,777 0
Deferred tax liabilities 0 260
Notes payable, less current portion 100,528 156,605
Operating lease obligations, less current portion 12,350 13,555
Financing lease obligations, less current portion 7,673 9,939
Contingent consideration 570 720
Total liabilities 416,307 316,073
Commitments and contingencies
Stockholders' Equity:    
Preferred stock, par value $0.001; 10,000,000 shares authorized; no shares issued at December 31, 2022 or December 31, 2021 0 0
Common stock, par value $0.001; 325,000,000 shares authorized; 157,884,024 shares issued and 157,530,961 shares outstanding at December 31, 2022 and 82,259,739 shares issued and 81,906,676 shares outstanding at December 31, 2021 158 82
Additional paid-in capital 347,357 311,487
Treasury stock at cost; 353,063 shares held at December 31, 2022 and December 31, 2021 (413) (413)
Accumulated deficit (487,121) (210,934)
Accumulated other comprehensive loss (691) (3,995)
Total Orbital Energy Group, Inc.'s stockholders' equity (140,710) 96,227
Noncontrolling interest (4,026) 39
Total stockholders' equity (144,736) 96,266
Total liabilities and stockholders' equity $ 271,571 $ 412,339