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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current Assets:    
Cash and cash equivalents $ 23,993 $ 21,489
Restricted cash - current portion 123 123
Trade accounts receivable, net of allowance 49,968 52,652
Inventories 1,857 1,691
Contract assets 18,770 13,917
Note receivable, current portion 1,462 1,442
Prepaid expenses and other current assets 5,173 7,840
Assets held for sale, current portion 3,198 3,198
Total current assets 104,544 102,352
Property and equipment, less accumulated depreciation 21,718 22,930
Investment 1,063 1,063
Right of use assets - Operating leases 15,321 16,588
Right of use assets - Financing leases 7,447 8,394
Goodwill 7,006 7,006
Other intangible assets, net 108,945 111,134
Restricted cash, noncurrent portion 576 486
Deposits and other assets 1,593 1,618
Total assets 268,213 271,571
Current Liabilities:    
Accounts payable 49,318 41,333
Notes payable, current portion 250,711 144,708
Line of credit 4,000 4,000
Operating lease obligations - current portion 4,345 4,540
Financing lease obligations - current portion 5,437 5,316
Accrued expenses 45,198 39,065
Contract liabilities 2,700 10,218
Financial instrument liabilities 45,392 43,693
Total current liabilities 407,101 292,873
Financial instrument liability, noncurrent portion 0 536
Warrant liability 1,131 1,777
Notes payable, less current portion 1,276 100,528
Operating lease obligations, less current portion 11,327 12,350
Financing lease obligations, less current portion 6,311 7,673
Other long-term liabilities 570 570
Total liabilities 427,716 416,307
Commitments and contingencies
Stockholders' Equity:    
Preferred stock, par value $0.001; 10,000,000 shares authorized; no shares issued at March 31, 2023 or December 31, 2022 0 0
Common stock, par value $0.001; 325,000,000 shares authorized; 4,658,274 shares issued and 4,649,447 shares outstanding at March 31, 2023 and 3,947,101 shares issued and 3,938,274 shares outstanding at December 31, 2022 5 4
Additional paid-in capital 353,251 347,511
Treasury stock at cost; 8,827 shares held at March 31, 2023 and December 31, 2022 (413) (413)
Accumulated deficit (507,286) (487,121)
Accumulated other comprehensive loss (673) (691)
Total Orbital Infrastructure Group, Inc.'s stockholders' equity (155,116) (140,710)
Noncontrolling interest (4,387) (4,026)
Total stockholders' equity (159,503) (144,736)
Total liabilities and stockholders' equity $ 268,213 $ 271,571