MINERVA SURGICAL INC

2023 Q2 Form 10-Q Financial Statement

#000095017023017269 Filed on May 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.71M $25.26M $27.90M
YoY Change -29.81% -9.49%
Cash & Equivalents $15.71M $25.26M $27.90M
Short-Term Investments
Other Short-Term Assets $304.0K $191.0K $100.0K
YoY Change -97.22% 91.0%
Inventory $17.88M $17.20M $16.00M
Prepaid Expenses $2.927M $2.465M $1.238M
Receivables $7.945M $7.392M $7.150M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $46.08M $54.11M $61.48M
YoY Change -19.55% -11.99%
LONG-TERM ASSETS
Property, Plant & Equipment $5.361M $5.375M $4.817M
YoY Change -7.01% 11.58%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $192.0K $575.0K $524.0K
YoY Change 9.73%
Total Long-Term Assets $33.22M $31.06M $39.02M
YoY Change -9.43% -20.41%
TOTAL ASSETS
Total Short-Term Assets $46.08M $54.11M $61.48M
Total Long-Term Assets $33.22M $31.06M $39.02M
Total Assets $79.30M $85.17M $100.5M
YoY Change -15.6% -15.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.819M $3.690M $3.061M
YoY Change 16.68% 20.55%
Accrued Expenses $1.984M $4.723M $10.75M
YoY Change -87.05% -56.06%
Deferred Revenue $251.0K $581.0K $281.0K
YoY Change 106.76%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $8.390M $5.139M
YoY Change
Total Short-Term Liabilities $18.08M $16.84M $26.47M
YoY Change -24.36% -36.39%
LONG-TERM LIABILITIES
Long-Term Debt $31.08M $34.26M $39.15M
YoY Change -20.74% -12.48%
Other Long-Term Liabilities $3.563M $143.0K
YoY Change
Total Long-Term Liabilities $31.08M $34.26M $39.15M
YoY Change -20.74% -12.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.08M $16.84M $26.47M
Total Long-Term Liabilities $31.08M $34.26M $39.15M
Total Liabilities $52.72M $51.10M $65.76M
YoY Change -16.47% -22.3%
SHAREHOLDERS EQUITY
Retained Earnings -$303.5M -$294.9M -$260.5M
YoY Change 13.21%
Common Stock $177.0K $176.0K $28.00K
YoY Change 528.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $26.59M $34.07M $34.74M
YoY Change
Total Liabilities & Shareholders Equity $79.30M $85.17M $100.5M
YoY Change -15.6% -15.26%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1

Facts In Submission

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CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Significant estimates and assumptions include accounts receivable allowances, inventory allowances, recoverability of long-term assets, including definite-lived intangible assets, revaluation of equity instruments and equity-linked instruments, valuation of common stock, stock-based compensation, contingent consideration liability, valuation of the redeemable convertible preferred stock warrant liability and derivative liabilities, deferred tax assets and related valuation allowances, impact of contingencies and the Company’s incremental borrowing rate used to calculate lease assets</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
3149000
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
24733000
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of credit risk</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of risk consist principally of cash, cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents balances with established financial institutions and, at times, such balances with any one financial institution may be in excess of the Federal Deposit Insurance Corporation (FDIC) insured limits.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company earns revenue from sale of disposable devices and controllers to customers such as hospitals, ambulatory surgical centers and physician offices. The Company’s accounts receivable are derived from revenue earned from customers. The Company performs ongoing credit evaluations of its customers’ financial condition and generally requires no collateral from its customers. At March 31, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> and 2022, and for the periods then ended, </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">no</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customer accounted for more than 10.0% of accounts receivable or revenue.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2023Q1 utrs Number Of Customer Accounted For Accounts Receivable Or Revenue
NumberOfCustomerAccountedForAccountsReceivableOrRevenue
0
CY2022Q1 utrs Number Of Customer Accounted For Accounts Receivable Or Revenue
NumberOfCustomerAccountedForAccountsReceivableOrRevenue
0
CY2023Q1 utrs Concentration Of Suppliers
ConcentrationOfSuppliers
<span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of suppliers </span><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company purchases certain components of its products from a single or small number of suppliers. A change in or loss of these suppliers could cause a delay in filling customer orders and a possible loss of sales, which could adversely affect our results of operations; however, management believes that suitable replacement suppliers could be obtained in such an event.</span></p>
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
542000
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-1000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
26000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
515000
CY2023Q1 us-gaap Advertising Expense
AdvertisingExpense
100000
CY2022Q1 us-gaap Advertising Expense
AdvertisingExpense
0
CY2023Q1 utrs Percentage Of Revenue From Contract With Customer Excluding Assessed Tax
PercentageOfRevenueFromContractWithCustomerExcludingAssessedTax
1.000
CY2022Q1 utrs Percentage Of Revenue From Contract With Customer Excluding Assessed Tax
PercentageOfRevenueFromContractWithCustomerExcludingAssessedTax
1
CY2023Q1 utrs Percentage Of Revenue Subject To Point In Time Recognition
PercentageOfRevenueSubjectToPointInTimeRecognition
1
CY2022Q1 utrs Percentage Of Revenue Subject To Point In Time Recognition
PercentageOfRevenueSubjectToPointInTimeRecognition
0.994
CY2023Q1 utrs Percentage Of Revenue On Sale Of Extended Warranties On Capital Equipment
PercentageOfRevenueOnSaleOfExtendedWarrantiesOnCapitalEquipment
0.001
CY2022Q1 utrs Percentage Of Revenue On Sale Of Extended Warranties On Capital Equipment
PercentageOfRevenueOnSaleOfExtendedWarrantiesOnCapitalEquipment
0.010
CY2023Q1 utrs Percentage Of Total Revenue Derived From Sale Of Single Use Disposable Products
PercentageOfTotalRevenueDerivedFromSaleOfSingleUseDisposableProducts
0.983
CY2022Q1 utrs Percentage Of Total Revenue Derived From Sale Of Single Use Disposable Products
PercentageOfTotalRevenueDerivedFromSaleOfSingleUseDisposableProducts
0.970
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
7392000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
7244000
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
581000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
339000
CY2023Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
20687000
CY2023Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
20687000
CY2022Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
3149000
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
14094000
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-151000
CY2022Q1 utrs Payments
Payments
-5000000
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
8943000
CY2023Q1 us-gaap Cash
Cash
4568000
CY2022Q4 us-gaap Cash
Cash
3793000
CY2023Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
20687000
CY2022Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
3149000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25255000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6942000
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7295000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7142000
CY2023Q1 utrs Inventory Component Materials
InventoryComponentMaterials
9900000
CY2022Q4 utrs Inventory Component Materials
InventoryComponentMaterials
9708000
CY2023Q1 us-gaap Inventory Net
InventoryNet
17195000
CY2022Q4 us-gaap Inventory Net
InventoryNet
16850000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3082000
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2465000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2164000
CY2023Q1 us-gaap Prepaid Insurance
PrepaidInsurance
1009000
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1560000
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
191000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
755000
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3665000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4479000
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
15990000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
15467000
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10615000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10425000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5375000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5042000
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
500000
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
600000
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
48254000
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
23521000
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
24733000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
48254000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
21476000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
26778000
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2000000.0
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2000000.0
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
3331000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3693000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3693000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3614000
CY2023Q1 utrs Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
7320000
CY2023Q1 utrs Share Based Compensation Arrangements By Share Based Payment Award Options Aggregate Amounts Of Not Yet Vested Early Stock
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsAggregateAmountsOfNotYetVestedEarlyStock
100000
CY2023Q1 us-gaap Accrued Vacation Current
AccruedVacationCurrent
1550000
CY2022Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
1559000
CY2023Q1 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
651000
CY2022Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
1248000
CY2023Q1 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
843000
CY2022Q4 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
730000
CY2023Q1 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
98000
CY2022Q4 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
164000
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3142000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3701000
CY2023Q1 utrs Accrued Litigation
AccruedLitigation
2000000
CY2022Q4 utrs Accrued Litigation
AccruedLitigation
2000000
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
400000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
643000
CY2023Q1 utrs Accrued Sales And Use Taxes
AccruedSalesAndUseTaxes
339000
CY2022Q4 utrs Accrued Sales And Use Taxes
AccruedSalesAndUseTaxes
271000
CY2022Q4 utrs Accrual For Inventory In Transit
AccrualForInventoryInTransit
663000
CY2023Q1 utrs Accrued Contract Liability
AccruedContractLiability
581000
CY2022Q4 utrs Accrued Contract Liability
AccruedContractLiability
339000
CY2023Q1 us-gaap Interest Payable Current
InterestPayableCurrent
339000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
321000
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1064000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1287000
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4723000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5524000
CY2023Q1 us-gaap Other Inventory In Transit
OtherInventoryInTransit
700000
CY2022Q4 utrs Share Based Compensation Arrangements By Share Based Payment Award Options Aggregate Amounts Of Not Yet Vested Early Stock
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsAggregateAmountsOfNotYetVestedEarlyStock
100000
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.38
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
163000
CY2023Q1 us-gaap Lease Cost
LeaseCost
163000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
212000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
109000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y2M12D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
100000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
100000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
143000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
143000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
143000
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.38
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
143000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
143000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
15000000
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2017Q2 utrs Class Of Warrant Or Right To Purchase Of Common Stock Issuance Date
ClassOfWarrantOrRightToPurchaseOfCommonStockIssuanceDate
2017-05-09
CY2017Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
33964
CY2017Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.31
CY2017Q2 utrs Class Of Warrant Or Right Classification
ClassOfWarrantOrRightClassification
Equity
CY2017Q2 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2027-05-08
CY2019Q3 utrs Class Of Warrant Or Right To Purchase Of Common Stock Issuance Date
ClassOfWarrantOrRightToPurchaseOfCommonStockIssuanceDate
2019-07-19
CY2019Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
43878
CY2019Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.31
CY2019Q3 utrs Class Of Warrant Or Right Classification
ClassOfWarrantOrRightClassification
Equity
CY2019Q3 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2029-07-18
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
77842
CY2023Q1 utrs Shares Subject To Repurchase
SharesSubjectToRepurchase
140413
CY2023Q1 utrs Warrants To Purchase Common Stock
WarrantsToPurchaseCommonStock
77842
CY2022Q4 utrs Warrants To Purchase Common Stock
WarrantsToPurchaseCommonStock
77842
CY2023Q1 utrs Common Stock Options Issued And Outstanding
CommonStockOptionsIssuedAndOutstanding
27056747
CY2022Q4 utrs Common Stock Options Issued And Outstanding
CommonStockOptionsIssuedAndOutstanding
2290596
CY2023Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
13557722
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
374099
CY2023Q1 utrs Restricted Stock Units Issued And Outstanding
RestrictedStockUnitsIssuedAndOutstanding
871792
CY2022Q4 utrs Restricted Stock Units Issued And Outstanding
RestrictedStockUnitsIssuedAndOutstanding
1247059
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2290596
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.33
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
24921277
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.28
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
6
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.61
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
155120
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
7.32
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
27056747
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.92
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y8M12D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1506339
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.86
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
27056747
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
0.92
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9Y8M12D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1000
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
800000
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1000000.0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.20
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.50
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
8600000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y3M18D
CY2023Q1 utrs Repurchase Of Common Stock
RepurchaseOfCommonStock
0
CY2022Q1 utrs Repurchase Of Common Stock
RepurchaseOfCommonStock
0
CY2022Q4 utrs Shares Subject To Repurchase
SharesSubjectToRepurchase
188025
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1274000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1523000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1274000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1523000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.778
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.708
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.042
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.019
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-11343000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-10925000
CY2023Q1 utrs Weighted Average Shares Used In Computing Net Loss Per Share Basic And Diluted
WeightedAverageSharesUsedInComputingNetLossPerShareBasicAndDiluted
96573894
CY2022Q1 utrs Weighted Average Shares Used In Computing Net Loss Per Share Basic And Diluted
WeightedAverageSharesUsedInComputingNetLossPerShareBasicAndDiluted
28480745
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12

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