Restatement of Previously Issued Unaudited Interim Condensed Consolidated Financial Statements (Tables)

9 Months Ended

Sep. 30, 2024

Accounting Changes and Error Corrections [Abstract]

Summary of Revision on the Prior Period Financial Statements

The following tables present a reconciliation of the as-previously-reported condensed consolidated financial statements to the restated amounts as of and for the three and nine months ended September 30, 2023 which include the following: (1) as restated condensed consolidated balance sheet, (2) as restated condensed consolidated statement of operations and comprehensive loss and (3) as restated condensed consolidated statement of cash flows. Presented below are the changes to each financial statement line item which changed as a result of the restatement.

Condensed Consolidated Balance Sheet

	As of September 30, 2023
	As Previously Reported		Restatement Adjustments		As Restated
Property held for lease, net of accumulated depreciation and impairment	$	53,581	$	(1,911)	$	51,670
Prepaid expenses and other current assets	$	6,777	$	(1,801)	$	4,976
Total current assets	$	99,227	$	(3,712)	$	95,515
Total assets	$	102,303	$	(3,712)	$	98,591
Accrued liabilities	$	15,747	$	6,451	$	22,198
Unearned revenue	$	2,124	$	2,631	$	4,755
Total current liabilities	$	18,903	$	9,082	$	27,985
Total liabilities	$	104,192	$	9,082	$	113,274
Accumulated deficit	$	(95,114)	$	(12,794)	$	(107,908)
Total stockholders' deficit	$	(1,889)	$	(12,794)	$	(14,683)
Total liabilities and stockholders' deficit	$	102,303	$	(3,712)	$	98,591

Condensed Consolidated Statement of Operations and Comprehensive Loss

	Three Months Ended September 30, 2023						Nine Months Ended September 30, 2023
	As Previously Reported		Restatement Adjustments		As Restated		As Previously Reported		Restatement Adjustments		As Restated
Rental revenue	$	54,481	$	(439)	$	54,042	$	163,079	$	(1,467)	$	161,612
Total revenue	$	55,250	$	(439)	$	54,811	$	165,497	$	(1,467)	$	164,030
Cost of revenue	$	42,439	$	903	$	43,342	$	128,486	$	2,738	$	131,224
Gross profit	$	12,811	$	(1,342)	$	11,469	$	37,011	$	(4,205)	$	32,806
Total operating expenses	$	12,111	$	(202)	$	11,909	$	41,559	$	(606)	$	40,953
Loss from operations	$	700	$	(1,140)	$	(440)	$	(4,548)	$	(3,599)	$	(8,147)
Loss before income taxes	$	(2,895)	$	(1,140)	$	(4,035)	$	(18,385)	$	(3,599)	$	(21,984)
Net loss	$	(2,914)	$	(1,140)	$	(4,054)	$	(18,438)	$	(3,599)	$	(22,037)
Net loss per common share - basic and diluted	$	(0.71)	$	(0.28)	$	(0.98)	$	(4.54)	$	(0.89)	$	(5.43)

Condensed Consolidated Statement of Cash Flow

	Nine Months Ended September 30, 2023
	As Previously Reported		Restatement Adjustments		As Restated
Net loss	$	(18,438)	$	(3,599)	$	(22,037)
Depreciation and amortization	$	90,439	$	1,895	$	92,334
Net book value of property held for lease buyouts	$	18,909	$	456	$	19,365
Impairment on property held for lease expense	$	15,356	$	138	$	15,494
Property held for lease	$	(127,327)	$	(1,137)	$	(128,464)
Prepaid expenses and other current assets	$	1,738	$	1,387	$	3,125
Accrued liabilities	$	734	$	860	$	1,594
Net cash used in operating activities	$	(7,720)	$	—	$	(7,720)