XML 61 R50.htm IDEA: XBRL DOCUMENT v3.23.1
Restatement of Previously Issued Condensed Consolidated Financial -Statements of Operations and Comprehensive Income (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2021
Net revenues      
Net revenue $ 77,229 $ 55,687  
Cost of revenue      
Cost of revenue 49,569 32,250  
Gross profit 27,660 23,437  
Selling, general, and administrative expenses 33,707 16,983  
Amortization Expense 1,811 651  
Loss on remeasurement of contingent liability 826 0  
Gain on litigation proceeds (530) 0  
Gain on sale leaseback (334) (334)  
Gian on sale of property, plant, and equipment (118) (6)  
(Loss) income from operations (7,702) 6,143  
Other income (expense)      
Interest expense (3,381) (3,603)  
Net unrealized gain on interest rate swap agreements 9,327 1,393  
Other, net 271 39  
Total other income (expense), net 6,217 (2,171)  
(Loss) income before provision for income taxes (1,485) 3,972  
Income tax provision (849) 1,193  
Net (loss) income (636) 2,779  
Net loss attributable to the noncontrolling interests (343) (25)  
Net income attributable to Vintage Wine Estates, Inc. (293) 2,804  
Accretion on redeemable Series B stock 0    
Net income allocable to common stockholders $ (293) $ 2,804  
Net (loss) earnings per share allocable to common stockholders      
Basic $ 0.00 $ 0.05  
Diluted $ 0.00 $ 0.05  
Weighted average shares used in the calculation of earnings per share allocable to common stockholders      
Basic 58,819,160 60,461,611 60,461,611
Diluted 58,819,160 60,461,611 60,461,611
Wine, spirits and cider      
Net revenues      
Net revenue $ 51,419 $ 36,287  
Cost of revenue      
Cost of revenue 34,631 20,588  
Nonwine      
Net revenues      
Net revenue 25,810 19,400  
Cost of revenue      
Cost of revenue 14,938 $ 11,662  
Previously Reported      
Net revenues      
Net revenue 77,862    
Cost of revenue      
Cost of revenue 47,714    
Gross profit 30,148    
Selling, general, and administrative expenses 34,244    
Amortization Expense 1,811    
Loss on remeasurement of contingent liability 0    
Gain on litigation proceeds (530)    
Gain on sale leaseback (334)    
Gian on sale of property, plant, and equipment (118)    
(Loss) income from operations (4,925)    
Other income (expense)      
Interest expense (3,381)    
Net unrealized gain on interest rate swap agreements 9,327    
Other, net 271    
Total other income (expense), net 6,217    
(Loss) income before provision for income taxes 1,292    
Income tax provision 658    
Net (loss) income 634    
Net loss attributable to the noncontrolling interests (343)    
Net income attributable to Vintage Wine Estates, Inc. 977    
Accretion on redeemable Series B stock 0    
Net income allocable to common stockholders $ 977    
Net (loss) earnings per share allocable to common stockholders      
Basic $ 0.02    
Diluted $ 0.02    
Weighted average shares used in the calculation of earnings per share allocable to common stockholders      
Basic 58,819,160    
Diluted 58,819,160    
Previously Reported | Wine, spirits and cider      
Net revenues      
Net revenue $ 52,052    
Cost of revenue      
Cost of revenue 34,522    
Previously Reported | Nonwine      
Net revenues      
Net revenue 25,810    
Cost of revenue      
Cost of revenue 13,192    
Revision of Prior Period, Adjustment [Member]      
Net revenues      
Net revenue (633)    
Cost of revenue      
Cost of revenue 1,855    
Gross profit (2,488)    
Selling, general, and administrative expenses (537)    
Amortization Expense 0    
Loss on remeasurement of contingent liability 826    
Gain on litigation proceeds 0    
Gian on sale of property, plant, and equipment 0    
(Loss) income from operations (2,777)    
Other income (expense)      
Interest expense 0    
Net unrealized gain on interest rate swap agreements 0    
Other, net 0    
Total other income (expense), net 0    
(Loss) income before provision for income taxes (2,777)    
Income tax provision (1,507)    
Net (loss) income (1,270)    
Net loss attributable to the noncontrolling interests 0    
Net income attributable to Vintage Wine Estates, Inc. (1,270)    
Accretion on redeemable Series B stock 0    
Net income allocable to common stockholders $ (1,270)    
Net (loss) earnings per share allocable to common stockholders      
Basic $ (0.02)    
Diluted $ (0.02)    
Revision of Prior Period, Adjustment [Member] | Wine, spirits and cider      
Net revenues      
Net revenue $ (633)    
Cost of revenue      
Cost of revenue 109    
Revision of Prior Period, Adjustment [Member] | Nonwine      
Net revenues      
Net revenue 0    
Cost of revenue      
Cost of revenue $ 1,746