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Immaterial Corrections of Prior Period Condensed Consolidated Financial Statements (Tables)
 6 Months Ended
Jun. 30, 2022
Accounting Changes and Error Corrections [Abstract]  
Schedule of error corrections and prior period adjustments
The following table reflects the impact of the immaterial corrections discussed above on the Company’s previously reported condensed consolidated statements of operations and comprehensive loss for the three months ended June 30, 2021 (in thousands, except per share amounts):

Previously Reported

Adjustment

As Revised
Revenue – sales of products
$7,410 $(453)$6,957 
Total revenue
30,847 (719)30,128 
Cost of revenue – sales of products
6,591 (531)6,060 
Cost of revenue – sales of services
14,954 (291)14,663 
Total cost of revenue
21,545 (449)21,096 
Gross profit
9,302 (270)9,032 
Selling, general and administrative
20,361 (581)19,780 
Depreciation and amortization
1,635 (194)1,441 
Total operating expenses
19,830 (775)19,055 
Loss from operations
(10,528)505 (10,023)
Loss before income taxes and non-controlling interest
(8,573)505 (8,068)
Income tax benefit
1,570 112 1,682 
Net loss
(7,465)618 (6,847)
Net loss attributable to common shareholders
(7,465)618 (6,847)
Net loss attributable to non-controlling interest
203 (51)152 
Net loss attributable to Ideanomics common shareholders
(7,262)567 (6,695)
Foreign currency translation adjustments
(41)1 (40)
Comprehensive loss
$(7,526)$619 $(6,907)
Comprehensive loss attributable to non-controlling interest
210 (52)158 
Comprehensive loss attributable to Ideanomics, Inc. shareholders
$(7,316)$567 $(6,749)

There was no change in earnings per share – basic and diluted from the immaterial error corrections.

The following table reflects the impact of the immaterial corrections discussed above on the Company’s previously reported condensed consolidated statements of operations and comprehensive loss for the six months ended June 30, 2021 (in thousands, except per share amounts):

Previously Reported

Adjustment

As Revised
Revenue – sales of products
$11,957 $(485)$11,472 
Total revenue
60,785 (719)60,066 
Cost of revenue – sales of products
10,945 (433)10,512 
Cost of revenue – sales of services
29,697 (420)29,277 
Total cost of revenue
40,642 (320)40,322 
Gross profit
20,143 (399)19,744 
Selling, general and administrative
37,380 (711)36,669 
Depreciation and amortization
2,763 6 2,769 
Total operating expenses
43,481 (705)42,776 
Loss from operations
(23,338)306 (23,032)
Loss on disposal of subsidiaries
(1,446)182 (1,264)
Other income, net
681 (182)499 
Loss before income taxes and non-controlling interest
(22,168)306 (21,862)
Income tax benefit
8,824 203 9,027 
Equity in loss of equity method investees
(698)83 (615)
Net loss
(14,042)592 (13,450)
Net loss attributable to common shareholders
(14,042)592 (13,450)
Net loss attributable to non-controlling interest
367 (95)272 
Net loss attributable to Ideanomics common shareholders
(13,675)497 (13,178)
Foreign currency translation adjustments
(901)168 (733)
Comprehensive loss
(14,963)760 (14,203)
Comprehensive loss attributable to non-controlling interest
763 (172)591 
Comprehensive loss attributable to Ideanomics, Inc. shareholders
$(14,200)$588 $(13,612)

There was no change in earnings per share – basic and diluted from the immaterial error corrections.

The following table reflects the impact of the immaterial corrections discussed above on the Company’s previously reported condensed consolidated statement of cash flows for the six months ended June 30, 2021 (in thousands):
Previously Reported

Adjustment

As Revised

Cash flows from operating activities
Net loss
$(14,042)$592 $(13,450)
Depreciation and amortization
2,7636 2769 
Income tax benefit
(9,190)(203)(9393)
Equity in losses of equity method investees
698(83)615 
Accounts receivable
5,503(535)4968 
Inventory
379(876)(497)
Prepaid expenses and other assets
(7,711)296 (7,415)
Accrued expenses, salary and other current liabilities
$8,975 $801 $9,776