ALPINE 4 HOLDINGS, INC.: restructuring charge — Alpine 4 reports Q3 2023 revenue down 7% to $25.6M; $33M non-cash impairment

ALPINE 4 HOLDINGS, INC.

Q3 2023 revenue $25.6M vs $27.5M in Q3 2022 (-7%); YTD revenue flat at $78M.
Non-cash impairment charges of $33M in Q3 due to sustained share price drop and macro conditions.
Cash position $2.9M at quarter end; gross margin steady at 21%.
R&D expenses surged to $3.1M YTD from $0.7M YTD 2022.
CEO cited divestment plan for non-performing subsidiaries to improve margins in H2 2024.

item 2.02 item 2.06 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

ALPINE 4 HOLDINGS, INC. announced a impairment with charges of $33 million affecting certain reporting units.

Type: impairment
Charge: $33 million
Affected area: certain reporting units

Exact text from the filing

Non-cash impairment charges amounted to $33 million in Q3 2023, resulting from several different triggering events.

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

ALPINE 4 HOLDINGS, INC. announced a impairment with charges of $33 million affecting certain reporting units.

Type: impairment
Charge: $33 million
Affected area: certain reporting units

Exact text from the filing

The gross margin remained steady at 21% for the first nine months of 2023, compared to the same period in 2022. • Impairment Charges: Non-cash impairment charges amounted to $33 million in Q3 2023, resulting from several different triggering events. • Cash Position: The cash position at the end of the period was $2.9 million. • Research and Development (R&D):

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Source: SEC EDGAR

accession 0001628280-24-026954

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