v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue $ 5,734,976 $ 10,804,083 $ 25,954,038 $ 18,679,956
Cost of revenue 3,911,733 7,018,283 16,859,683 11,978,477
Gross profit 1,823,243 3,785,800 9,094,355 6,701,479
Operating expenses        
Sales, general and administrative 6,284,514 5,942,793 22,011,961 14,956,990
Stock-based compensation 2,592,369 1,479,774 6,858,983 4,202,286
Restructuring costs 146,672   146,672  
Depreciation and amortization 295,008 130,864 717,733 195,666
Total operating expenses 9,318,563 7,553,431 29,735,349 19,354,942
Loss from operations (7,495,320) (3,767,631) (20,640,994) (12,653,463)
Other income (expense)        
Interest income       200
Interest expense (962,718) (978,435) (2,889,745) (1,976,941)
Loss on extinguishment of debt   (944,614)   (944,614)
Gain on extinguishment of debt       490,051
Change in fair value of derivatives   18,395   164,708
Employee retention credits 648,543   648,543  
Other expense (65,643)   (68,267)  
Total other income (expense) (379,818) (1,904,654) (2,309,469) (2,266,596)
Loss before income taxes (7,875,138) (5,672,285) (22,950,463) (14,920,059)
Income tax (expense)/benefit (394) 0 (1,624) (1,051)
Net loss $ (7,875,532) $ (5,672,285) $ (22,952,087) $ (14,921,110)
Basic net loss per common share (in dollars per share) $ (0.14) $ (0.11) $ (0.41) $ (0.32)
Diluted net loss per common share (in dollars per share) $ (0.14) $ (0.11) $ (0.41) $ (0.32)
Weighted average number of basic common shares outstanding (in shares) 56,604,812 51,172,644 56,455,743 47,061,092
Weighted average number of diluted common shares outstanding (in shares) 56,604,812 51,172,644 56,455,743 47,061,092
Advertising and Legacy and other revenue        
Cost of revenue $ 3,132,568 $ 6,742,460 $ 14,767,807 $ 11,045,440
Depreciation and amortization        
Cost of revenue $ 779,165 $ 275,823 $ 2,091,876 $ 933,037

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