Company: ANY
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001591956-25-000006
Chunk: 4

Company: Sphere 3D Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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ulatedDeficitTotalShareholders'EquitySharesAmountBalance at January 1, 202415,373,616 $475,702 $(1,808)$(447,371)$26,523 Cumulative adjustment from adoption of ASU 2023-08— — — 20 20 Issuance of common shares for conversion of     preferred shares2,422,710 4,327 — — 4,327 Share-based compensation— 1,086 — — 1,086 Other comprehensive loss— — (3)— (3)Net loss— — — (4,477)(4,477)Balance at March 31, 202417,796,326 $481,115 $(1,811)$(451,828)$27,476 

See accompanying notes to condensed consolidated financial statements.

4

Sphere 3D Corp.

Condensed Consolidated Statements of Cash Flows

(in thousands of U.S. dollars)

(unaudited)

Three MonthsEnded March 31,20252024Operating activities:Net loss$(8,785)$(4,477)Adjustments to reconcile net loss to net cash used in operating activities:Unrealized loss on investment in equity securities3,650 2,740 Depreciation and amortization1,606 1,821 Share-based compensation71 1,086 Change in fair value of Bitcoin228 (768)Loss on disposal of property and equipment808 — Change in fair value of warrant liabilities(28)(129)Bitcoin issued for services— 538 Changes in operating assets and liabilities:Proceeds from sale of Bitcoin— 6,533 Mining of Bitcoin(2,817)(6,946)Accounts payable and accrued liabilities496 (413)Accrued payroll and employee compensation(1,100)203 Other assets and liabilities, net1,793 (246)Net cash used in operating activities(4,078)(58)Investing activities:Proceeds from sale of Bitcoin2,110 1,522 Payments for purchase of property and equipment(1,025)— Proceeds from sale of property and equipment247 — Net cash provided by investing activities1,332 1,522 Financing activities:Proceeds from issuance of common shares, net108 — Net cash provided by financing activities108 — Net (decrease) increase in