2023 Q2 Form 10-Q Financial Statement

#000170305723000008 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $10.06M $12.19M
YoY Change -78.1% -96.15%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $19.36M $18.91M
YoY Change 10.44% 13.63%
% of Gross Profit
Research & Development $36.47M $52.65M
YoY Change 36.68% 99.68%
% of Gross Profit
Depreciation & Amortization $5.610M $2.900M
YoY Change 14.56% 107.14%
% of Gross Profit
Operating Expenses $61.45M $77.07M
YoY Change 13.13% -15.9%
Operating Profit -$51.39M -$64.87M
YoY Change 512.07% -128.84%
Interest Expense $10.78M $9.759M
YoY Change 713.25%
% of Operating Profit
Other Income/Expense, Net $2.606M $16.73M
YoY Change 72.58% 185.48%
Pretax Income -$38.00M -$48.15M
YoY Change 451.9% -120.86%
Income Tax -$7.476M -$8.038M
% Of Pretax Income
Net Earnings -$30.53M -$40.11M
YoY Change 349.93% -123.79%
Net Earnings / Revenue -303.58% -328.99%
Basic Earnings Per Share -$0.11 -$0.14
Diluted Earnings Per Share -$0.11 -$0.14
COMMON SHARES
Basic Shares Outstanding 288.7M shares 287.7M
Diluted Shares Outstanding 288.9M shares 287.8M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $179.7M $193.0M
YoY Change -77.26% -64.63%
Cash & Equivalents $179.7M $193.0M
Short-Term Investments $615.9M $603.5M
Other Short-Term Assets $47.36M $99.16M
YoY Change -31.25% 242.84%
Inventory $1.447M $1.447M
Prepaid Expenses
Receivables $661.6M $623.5M
Other Receivables $40.55M $79.57M
Total Short-Term Assets $930.7M $940.7M
YoY Change -18.64% -19.9%
LONG-TERM ASSETS
Property, Plant & Equipment $259.6M $233.2M
YoY Change 74.05% 91.06%
Goodwill $47.81M $47.81M
YoY Change 0.0%
Intangibles $126.7M $128.8M
YoY Change -11.62%
Long-Term Investments $58.79M $57.58M
YoY Change -10.68% -2.21%
Other Assets $113.4M $89.85M
YoY Change 158.76% 107.07%
Total Long-Term Assets $606.4M $557.3M
YoY Change 34.81% 33.35%
TOTAL ASSETS
Total Short-Term Assets $930.7M $940.7M
Total Long-Term Assets $606.4M $557.3M
Total Assets $1.537B $1.498B
YoY Change -3.55% -5.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.03M $17.57M
YoY Change 103.87% 69.72%
Accrued Expenses $5.953M $5.868M
YoY Change 47.97%
Deferred Revenue $8.542M $11.81M
YoY Change 28.48%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $118.9M $89.59M
YoY Change -46.23% -58.02%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $190.3M $2.962M
YoY Change 52.0% -13.64%
Total Long-Term Liabilities $190.3M $199.8M
YoY Change 52.0% 16.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $118.9M $89.59M
Total Long-Term Liabilities $190.3M $199.8M
Total Liabilities $342.3M $289.4M
YoY Change -10.13% -24.78%
SHAREHOLDERS EQUITY
Retained Earnings $355.5M $386.1M
YoY Change -11.5%
Common Stock $841.2M $824.4M
YoY Change 7.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.195B $1.209B
YoY Change
Total Liabilities & Shareholders Equity $1.537B $1.498B
YoY Change -3.55% -5.93%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$30.53M -$40.11M
YoY Change 349.93% -123.79%
Depreciation, Depletion And Amortization $5.610M $2.900M
YoY Change 14.56% 107.14%
Cash From Operating Activities $19.90M -$44.06M
YoY Change -92.71% -143.97%
INVESTING ACTIVITIES
Capital Expenditures $27.20M $14.98M
YoY Change -186.84% 3.37%
Acquisitions
YoY Change
Other Investing Activities -$7.189M -$134.6M
YoY Change -274.28% 1033.59%
Cash From Investing Activities -$34.39M -$149.6M
YoY Change 26.45% 467.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 419.0K -$458.0K
YoY Change -64.28% -85.37%
NET CHANGE
Cash From Operating Activities 19.90M -$44.06M
Cash From Investing Activities -34.39M -$149.6M
Cash From Financing Activities 419.0K -$458.0K
Net Change In Cash -14.07M -$194.3M
YoY Change -105.7% -375.61%
FREE CASH FLOW
Cash From Operating Activities $19.90M -$44.06M
Capital Expenditures $27.20M $14.98M
Free Cash Flow -$7.298M -$59.05M
YoY Change -102.4% -168.88%

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CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022Q1 us-gaap Payments To Acquire Marketable Securities
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CY2023Q1 us-gaap Payments To Acquire Marketable Securities
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CY2022Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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CY2022Q1 abcl Proceeds From Receipt Of Grant Funding
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CY2023Q1 abcl Proceeds From Receipt Of Grant Funding
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CY2022Q1 abcl Payments To Acquire Long Term Investments And Other Assets
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CY2023Q1 abcl Payments To Acquire Long Term Investments And Other Assets
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CY2022Q1 us-gaap Payments To Acquire Equity Method Investments
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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022Q1 abcl Repayment Of Liability For In Licensing Agreement And Contingent Consideration
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CY2023Q1 abcl Repayment Of Liability For In Licensing Agreement And Contingent Consideration
RepaymentOfLiabilityForInLicensingAgreementAndContingentConsideration
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CY2022Q1 abcl Proceeds From Debt And Exercise Of Stock Options
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CY2023Q1 abcl Proceeds From Debt And Exercise Of Stock Options
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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
501142000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
414650000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
220307000 usd
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
937000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
2290000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
570718000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
218017000 usd
CY2022Q1 abcl Non Cash Or Part Non Cash Acquisition Property And Equipment Purchases In Accounts Payable
NonCashOrPartNonCashAcquisitionPropertyAndEquipmentPurchasesInAccountsPayable
2353000 usd
CY2023Q1 abcl Non Cash Or Part Non Cash Acquisition Property And Equipment Purchases In Accounts Payable
NonCashOrPartNonCashAcquisitionPropertyAndEquipmentPurchasesInAccountsPayable
8918000 usd
CY2022Q1 abcl Noncash Or Part Noncash Acquisition Right Of Use Assets Obtained In Exchange For Operating Lease Obligation
NoncashOrPartNoncashAcquisitionRightOfUseAssetsObtainedInExchangeForOperatingLeaseObligation
658000 usd
CY2023Q1 abcl Noncash Or Part Noncash Acquisition Right Of Use Assets Obtained In Exchange For Operating Lease Obligation
NoncashOrPartNoncashAcquisitionRightOfUseAssetsObtainedInExchangeForOperatingLeaseObligation
2124000 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
Nature of operationsAbCellera Biologics Inc.’s (the “Company”) mission is to bring better antibody drugs to patients faster, solve long-standing problems, and transform how antibody drugs are discovered. The Company aims to bring antibody therapeutics from target to clinic by combining expertise, technologies, and infrastructure to build an engine for antibody drug discovery and development. The Company uses the engine to work with partners to build a large and diversified portfolio of royalty (and equivalent) stakes in future antibody drugs. The Company partners with companies of all sizes - from innovative biotechnology companies to leading pharmaceutical companies - propelling programs to the clinic, together.
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:6pt;padding-left:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of estimates</span></div><div style="margin-top:6pt;text-indent:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Areas of significant estimates include, but are not limited to, revenue recognition including evaluating whether contractual obligations represent distinct performance obligations, determining whether an option for additional goods or services represents a material right, allocating the transaction price to performance obligations within a contract, and assessing the recognition and possible future reversal of variable consideration, the fair value of acquired intangible assets, contingent consideration payable, and the estimates of stock-based compensation awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates when there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could significantly differ from those estimates.</span></div>
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
168573000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-40110000 usd
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
283895020 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
287767136 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.59
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
168573000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-40110000 usd
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
283895020 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
287767136 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
27586997 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
311482017 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
287767136 shares
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.54
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.14
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2974052 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
50844425 shares
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
235730000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
254520000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
18475000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
21333000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
217255000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
233187000 usd
CY2022Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
25600000 usd
CY2023Q1 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
38900000 usd
CY2022Q1 us-gaap Depreciation
Depreciation
1400000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
2900000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5583000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
154583000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
25738000 usd
CY2023Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
128845000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
10599000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
4241000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
4241000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
4241000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
4241000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
27563000 usd
CY2023Q1 abcl Number Of Joint Ventures
NumberOfJointVentures
2 jointventure
CY2022Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
64817000 usd
CY2023Q1 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
79566000 usd
CY2022Q4 abcl Prepaid Expense And Other Current
PrepaidExpenseAndOtherCurrent
9064000 usd
CY2023Q1 abcl Prepaid Expense And Other Current
PrepaidExpenseAndOtherCurrent
18142000 usd
CY2022Q4 abcl Materials And Supplies Current
MaterialsAndSuppliesCurrent
1532000 usd
CY2023Q1 abcl Materials And Supplies Current
MaterialsAndSuppliesCurrent
1447000 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
75413000 usd
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
99155000 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
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CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
17569000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5868000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6454000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1792000 usd
CY2022Q4 abcl Deferred Grant Funding Current
DeferredGrantFundingCurrent
6285000 usd
CY2023Q1 abcl Deferred Grant Funding Current
DeferredGrantFundingCurrent
6585000 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
33150000 usd
CY2023Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
31814000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12291000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15474000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
34954000 usd
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
35861000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
41128000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
37223000 usd
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2700000 usd
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4800000 usd
CY2023Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
29700000 usd
CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
18500000 usd
CY2022Q1 us-gaap Royalty Expense
RoyaltyExpense
44600000 usd
CY2023Q1 us-gaap Royalty Expense
RoyaltyExpense
0 usd

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