$ACET
Adicet Bio, Inc.

2024 Q1 Form 10-K Financial Statement

#000095017024033482 Filed on March 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.974M $6.807M $26.53M
YoY Change 6.21% 3.92% 0.91%
% of Gross Profit
Research & Development $23.90M $24.76M $106.0M
YoY Change -10.69% -1.02% 48.84%
% of Gross Profit
Depreciation & Amortization $1.651M $1.689M $6.098M
YoY Change 31.66% 59.49% 136.82%
% of Gross Profit
Operating Expenses $30.87M $31.57M $132.6M
YoY Change -7.36% 0.0% 35.92%
Operating Profit -$30.87M -$152.0M
YoY Change -7.36% 109.56%
Interest Expense $2.000K $2.178M $9.953M
YoY Change -89.47% 1.16% 12341.25%
% of Operating Profit
Other Income/Expense, Net -$61.00K -$101.0K -$573.0K
YoY Change -70.39% -78.19% -37.65%
Pretax Income -$28.02M -$29.49M -$142.7M
YoY Change -9.28% -1.29% 104.41%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$28.02M -$29.49M -$142.7M
YoY Change -9.28% -1.29% 104.41%
Net Earnings / Revenue
Basic Earnings Per Share -$0.35 -$3.31
Diluted Earnings Per Share -$0.35 -$0.68 -$3.31
COMMON SHARES
Basic Shares Outstanding 82.15M 43.16M 43.04M
Diluted Shares Outstanding 79.07M 43.04M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $247.6M $159.7M $159.7M
YoY Change 6.89% -38.01% -38.01%
Cash & Equivalents $247.6M $159.7M $159.7M
Short-Term Investments
Other Short-Term Assets $613.0K $2.561M $2.561M
YoY Change 19.96% 573.95% -13.1%
Inventory
Prepaid Expenses $339.0K $373.0K
Receivables
Other Receivables
Total Short-Term Assets $250.4M $162.3M $162.3M
YoY Change 6.62% -37.84% -37.84%
LONG-TERM ASSETS
Property, Plant & Equipment $25.41M $44.20M $44.20M
YoY Change -14.99% 53.96% -9.76%
Goodwill $0.00
YoY Change -100.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $691.0K $822.0K $822.0K
YoY Change -37.75% -32.12% -32.12%
Total Long-Term Assets $42.75M $45.02M $45.02M
YoY Change -39.08% -35.36% -35.36%
TOTAL ASSETS
Total Short-Term Assets $250.4M $162.3M $162.3M
Total Long-Term Assets $42.75M $45.02M $45.02M
Total Assets $293.1M $207.3M $207.3M
YoY Change -3.9% -37.31% -37.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.542M $2.625M $2.625M
YoY Change -7.46% -40.4% -40.4%
Accrued Expenses $14.92M $16.66M $16.66M
YoY Change -2.8% 8.88% 8.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $17.46M $19.29M $19.29M
YoY Change -3.5% -2.13% -2.13%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $116.0K $17.83M $17.83M
YoY Change 0.0% 15542.98% -4.36%
Total Long-Term Liabilities $116.0K $17.83M $17.83M
YoY Change 0.0% 15542.98% -4.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.46M $19.29M $19.29M
Total Long-Term Liabilities $116.0K $17.83M $17.83M
Total Liabilities $34.29M $37.12M $37.12M
YoY Change -11.53% -3.21% -3.21%
SHAREHOLDERS EQUITY
Retained Earnings -$408.8M -$380.8M
YoY Change 51.97% 59.91%
Common Stock $667.6M $550.9M
YoY Change 24.73% 3.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $258.8M $170.2M $170.2M
YoY Change
Total Liabilities & Shareholders Equity $293.1M $207.3M $207.3M
YoY Change -3.9% -37.31% -37.31%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$28.02M -$29.49M -$142.7M
YoY Change -9.28% -1.29% 104.41%
Depreciation, Depletion And Amortization $1.651M $1.689M $6.098M
YoY Change 31.66% 59.49% 136.82%
Cash From Operating Activities -$22.85M -$23.49M -$93.72M
YoY Change -5.17% 24.68% 109.35%
INVESTING ACTIVITIES
Capital Expenditures $239.0K $136.0K $4.464M
YoY Change -87.52% -97.9% -73.4%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$239.0K -$136.0K -$4.464M
YoY Change -87.52% -97.9% -73.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $386.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 111.0M 76.00K 236.0K
YoY Change -1585328.57% -75.0% -99.43%
NET CHANGE
Cash From Operating Activities -22.85M -23.49M -93.72M
Cash From Investing Activities -239.0K -136.0K -4.464M
Cash From Financing Activities 111.0M 76.00K 236.0K
Net Change In Cash 87.88M -23.55M -97.95M
YoY Change -437.78% -5.9% 388.8%
FREE CASH FLOW
Cash From Operating Activities -$22.85M -$23.49M -$93.72M
Capital Expenditures $239.0K $136.0K $4.464M
Free Cash Flow -$23.09M -$23.62M -$98.18M
YoY Change -11.23% -6.73% 59.52%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-20038000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
257656000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
277694000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
159711000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
257656000
CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
279000
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
565000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2329000
CY2023Q4 acet Aggregate Net Proceed
AggregateNetProceed
19300000
CY2023Q4 acet Underwritten Public Offering
UnderwrittenPublicOffering
91800000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:3.333%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent liabilities at the date of the consolidated financial statements as well as the reported amounts of revenues and expenses during the reporting period. Such estimates include deferred tax assets, useful lives of property and equipment, accruals for research and development activities, revenue recognition and stock-based compensation and the Company’s incremental borrowing rate. Actual results could differ from those estimates.</span></p>
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and cash equivalents. The Company’s cash and cash equivalents are held at two financial institutions in the U.S. and one financial institution in Israel and such amounts may, at times, exceed insured limits. The Company invests its cash equivalents in money market funds and treasury securities. The Company limits its credit risk associated with cash equivalents by placing them with banks and institutions it believes are highly creditworthy and in highly rated investments. The Company has not experienced any losses on its deposits of cash and cash equivalents to date.</span></p><p style="text-indent:3.333%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company has </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customer, Regeneron, which represents </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">100</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of the Company’s total revenue during the year ended December 31, 2022 (see Note 8). The Company did not have any revenue for the year ended December 31, 2023.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023Q4 acet Number Of Customer
NumberOfCustomer
1
CY2022 acet Customers Percentage Of Total Revenue
CustomersPercentageOfTotalRevenue
1
CY2023 acet Customers Percentage Of Total Revenue
CustomersPercentageOfTotalRevenue
1
CY2023 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0
CY2022 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0
CY2023 acet Accrued Research And Development
AccruedResearchAndDevelopment
0
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1014000
CY2022Q4 us-gaap Prepaid Insurance
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1251000
CY2023Q4 acet Prepaid Software Subscription And Licensing Fees
PrepaidSoftwareSubscriptionAndLicensingFees
582000
CY2022Q4 acet Prepaid Software Subscription And Licensing Fees
PrepaidSoftwareSubscriptionAndLicensingFees
529000
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
373000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
295000
CY2023Q4 acet Prepaid Professional Services
PrepaidProfessionalServices
82000
CY2022Q4 acet Prepaid Professional Services
PrepaidProfessionalServices
44000
CY2023Q4 acet Prepayments To Cros
PrepaymentsToCros
53000
CY2022Q4 acet Prepayments To Cros
PrepaymentsToCros
492000
CY2023Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
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CY2022Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
435000
CY2023Q4 us-gaap Other Assets Current
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457000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
336000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2561000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3382000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
41624000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
37463000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
14847000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8753000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26777000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
28710000
CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
6100000
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2600000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6514000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5703000
CY2023Q4 acet Accrued Cmo Costs
AccruedCmoCosts
5679000
CY2022Q4 acet Accrued Cmo Costs
AccruedCmoCosts
4390000
CY2023Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
625000
CY2022Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
1356000
CY2023Q4 acet Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
354000
CY2022Q4 acet Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
674000
CY2023Q4 acet Accrued Cro Costs
AccruedCroCosts
257000
CY2022Q4 acet Accrued Cro Costs
AccruedCroCosts
657000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
12000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
31000
CY2023Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
13441000
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
12811000
CY2023Q4 acet Available Under The Loan Agreement
AvailableUnderTheLoanAgreement
12700000
CY2023 acet License Agreement Termination Description
LicenseAgreementTerminationDescription
twelve (12) years
CY2023 acet Research And Development In Process1
ResearchAndDevelopmentInProcess1
1000000
CY2021Q3 acet Area Of Sublease
AreaOfSublease
9501
CY2023Q4 acet Operating Leases Future Minimum Sublease Income Due Current
OperatingLeasesFutureMinimumSubleaseIncomeDueCurrent
722000
CY2023Q4 acet Operating Leases Future Minimum Sublease Income Due In Two Years
OperatingLeasesFutureMinimumSubleaseIncomeDueInTwoYears
736000
CY2023Q4 acet Operating Leases Future Minimum Sublease Income Due In Three Years
OperatingLeasesFutureMinimumSubleaseIncomeDueInThreeYears
438000
CY2023Q4 acet Operating Leases Future Minimum Sublease Income Due
OperatingLeasesFutureMinimumSubleaseIncomeDue
1896000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
1700000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
5015000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
4662000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
4009000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
12090000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
25776000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4852000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
20924000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3221000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
17703000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.071
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y8M12D
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
4510000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
4508000
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
195000
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
133000
CY2023 us-gaap Sublease Income
SubleaseIncome
714000
CY2022 us-gaap Sublease Income
SubleaseIncome
704000
CY2023 us-gaap Lease Cost
LeaseCost
3991000
CY2022 us-gaap Lease Cost
LeaseCost
3937000
CY2023 acet Operating Lease Proceeds Payments Use
OperatingLeaseProceedsPaymentsUse
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CY2022 acet Operating Lease Proceeds Payments Use
OperatingLeaseProceedsPaymentsUse
2264000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y8M12D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y6M
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.071
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.071
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17400000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
20900000
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
0
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
12310790
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
9272305
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20259000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17126000
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20259000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17126000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6203020
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.44
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y4M24D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
780000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
4293442
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.36
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
946
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.76
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
1112411
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
10.59
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9383105
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.64
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M12D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
45000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3984821
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
13.65
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y4M24D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
6000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
9383105
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
10.64
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y2M12D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
45000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.8325
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.9287
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.774
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.817
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.035
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0486
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.016
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0422
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000000
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2023 us-gaap Weighted Average Number Of Shares Issued Basic
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43042405
CY2023 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
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43042405
CY2022 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
41080286
CY2022 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
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41080286
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2023 us-gaap Earnings Per Share Diluted
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CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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9837305
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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6400600
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2023 us-gaap Current State And Local Tax Expense Benefit
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0
CY2022 us-gaap Current State And Local Tax Expense Benefit
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0
CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0
CY2023 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
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-0.025
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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-0.083
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.085
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.07
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.232
CY2023 acet M Limitation
MLimitation
0
CY2022 acet M Limitation
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-0.015
CY2023 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.027
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.023
CY2023 acet Effective Income Tax Rate Reconciliation Goodwill Impairment
EffectiveIncomeTaxRateReconciliationGoodwillImpairment
-0.029
CY2022 acet Effective Income Tax Rate Reconciliation Goodwill Impairment
EffectiveIncomeTaxRateReconciliationGoodwillImpairment
0
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
-0.001
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
-0.002
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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-0
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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65601000
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CY2023Q4 acet Deferred Tax Operating Lease Right Of Use Asset Liability
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CY2022Q4 acet Deferred Tax Operating Lease Right Of Use Asset Liability
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0
CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
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1846000
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768000
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DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
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27871000
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15803000
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26000
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5439000
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0
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0
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0
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DeferredTaxBasisDifferenceIPRD
0
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CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
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0
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9600000
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DeferredTaxAssetsValuationAllowanceIncrease
16300000
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CY2021Q4 us-gaap Unrecognized Tax Benefits
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4040000
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5000
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2000
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
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5721000
CY2023Q4 us-gaap Unrecognized Tax Benefits
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18462000
CY2022Q4 us-gaap Unrecognized Tax Benefits
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9759000
CY2023 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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1200000
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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800000
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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0
acet Stock Price Decrease
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0.44
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GoodwillImpairedAccumulatedImpairmentLoss
19500000
CY2023Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
0

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