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The company also announced that the 3Q22 net revenue is expected to fall in the range of $62.0M to $66.0M vs consensus of $54.74M.

The company expects to report a net loss 3Q22, due primarily to the company’s operating loss including stock-based compensation expense, depreciation and amortization expense and the non-cash goodwill impairment charge.

The company estimates that the non-cash goodwill impairment charge will be between $24.0M and $29.0M.

For 2Q22, the company recorded a non-cash goodwill impairment charge of ~$29.0M due to the decrease in its market capitalization during the three months ended March 31, 2022.

Shares are trading up 5.58% premarket.

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