$ACHV
ACHIEVE LIFE SCIENCES, INC.

2023 Q2 Form 10-Q Financial Statement

#000095017023019680 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.129M $3.044M $2.838M
YoY Change 9.18% 7.26% 21.28%
% of Gross Profit
Research & Development $4.585M $5.534M $4.388M
YoY Change -36.38% 26.12% -22.23%
% of Gross Profit
Depreciation & Amortization $55.00K $58.00K $60.00K
YoY Change -1.79% -3.33% 0.0%
% of Gross Profit
Operating Expenses $4.585M $5.534M $7.226M
YoY Change -36.38% -23.42% 28.08%
Operating Profit
YoY Change
Interest Expense $712.0K $573.0K $357.0K
YoY Change 76.24% 60.5% 3470.0%
% of Operating Profit
Other Income/Expense, Net -$525.0K -$414.0K $6.000K
YoY Change 32.91% -7000.0% -140.0%
Pretax Income -$8.239M -$8.992M -$7.573M
YoY Change -21.29% 18.74% -5.34%
Income Tax
% Of Pretax Income
Net Earnings -$8.239M -$9.000M -$7.573M
YoY Change -21.29% 18.84% -5.33%
Net Earnings / Revenue
Basic Earnings Per Share -$0.43 -$0.50 -$0.80
Diluted Earnings Per Share -$0.43 -$0.50 -$800.6K
COMMON SHARES
Basic Shares Outstanding 18.04M 17.93M 9.459M
Diluted Shares Outstanding 19.05M 17.92M 9.459M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.07M $16.51M $36.34M
YoY Change -14.66% -54.55% 22.76%
Cash & Equivalents $25.10M $16.50M $36.30M
Short-Term Investments
Other Short-Term Assets $958.0K $1.621M $1.355M
YoY Change -34.25% 19.63% 69.38%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $26.38M $18.22M $37.69M
YoY Change -15.31% -51.65% 23.83%
LONG-TERM ASSETS
Property, Plant & Equipment $99.00K $68.00K $49.00K
YoY Change 200.0% 38.78% 48.48%
Goodwill $1.034M $1.034M $1.034M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $95.00K $109.0K $253.0K
YoY Change -60.42% -56.92% 26.5%
Total Long-Term Assets $2.536M $2.574M $2.922M
YoY Change -10.61% -11.91% -10.4%
TOTAL ASSETS
Total Short-Term Assets $26.38M $18.22M $37.69M
Total Long-Term Assets $2.536M $2.574M $2.922M
Total Assets $28.92M $20.80M $40.61M
YoY Change -14.92% -48.79% 20.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $361.0K $1.063M $418.0K
YoY Change -44.97% 154.31% -30.33%
Accrued Expenses $3.086M $2.867M $3.592M
YoY Change -34.38% -20.18% 23.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $16.37M
YoY Change
Total Short-Term Liabilities $3.447M $20.30M $4.010M
YoY Change -35.68% 406.26% 14.57%
LONG-TERM LIABILITIES
Long-Term Debt $15.73M $0.00 $15.17M
YoY Change 1.75% -100.0%
Other Long-Term Liabilities $38.00K $54.00K $0.00
YoY Change -100.0%
Total Long-Term Liabilities $15.77M $54.00K $15.17M
YoY Change 2.0% -99.64% 15071.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.447M $20.30M $4.010M
Total Long-Term Liabilities $15.77M $54.00K $15.17M
Total Liabilities $19.22M $20.36M $19.18M
YoY Change -7.7% 6.12% 436.68%
SHAREHOLDERS EQUITY
Retained Earnings -$153.2M -$144.9M -$101.2M
YoY Change 37.28% 43.18%
Common Stock $162.9M $145.4M
YoY Change 30.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.699M $443.0K $21.43M
YoY Change
Total Liabilities & Shareholders Equity $28.92M $20.80M $40.61M
YoY Change -14.92% -48.79% 20.52%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$8.239M -$9.000M -$7.573M
YoY Change -21.29% 18.84% -5.33%
Depreciation, Depletion And Amortization $55.00K $58.00K $60.00K
YoY Change -1.79% -3.33% 0.0%
Cash From Operating Activities -$6.676M -$8.300M -$6.800M
YoY Change -19.76% 22.06% 5.39%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 15.23M 47.00K 95.00K
YoY Change 1019.1% -50.53% -59.75%
NET CHANGE
Cash From Operating Activities -6.676M -8.300M -6.800M
Cash From Investing Activities
Cash From Financing Activities 15.23M 47.00K 95.00K
Net Change In Cash 8.555M -8.257M -6.685M
YoY Change -222.93% 23.52% 7.55%
FREE CASH FLOW
Cash From Operating Activities -$6.676M -$8.300M -$6.800M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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ImpairmentOfIntangibleAssetsFinitelived
0
CY2023Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
12759000
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
50000
CY2023Q1 achv Maximum Maturity Period Of Cash And Cash Equivalents
MaximumMaturityPeriodOfCashAndCashEquivalents
P90D
CY2023Q1 us-gaap Cash
Cash
3700000
CY2023Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
12800000
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
15000000
CY2023Q1 us-gaap Convertible Debt
ConvertibleDebt
16371000
CY2023Q1 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
17256000
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
15000000
CY2022Q4 us-gaap Convertible Debt
ConvertibleDebt
16071000
CY2022Q4 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
16987000
CY2021Q4 us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0225
CY2021Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.070
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
15000000
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
15000000
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
50000
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
67000
CY2023Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1421000
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1138000
CY2023Q1 us-gaap Convertible Debt
ConvertibleDebt
16371000
CY2022Q4 us-gaap Convertible Debt
ConvertibleDebt
16071000
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2023Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
0
CY2022Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
822515
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.57
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
506750
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.03
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
29
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
26381.79
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1329236
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.83
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0353
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0149
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 Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M18D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M18D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.2157
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.2335
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1085000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
823000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
4800000
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7276204
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2309387
CY2023Q1 us-gaap Contractual Obligation
ContractualObligation
122000
CY2023Q1 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
50000
CY2023Q1 us-gaap Contractual Obligation Due In Second And Third Year
ContractualObligationDueInSecondAndThirdYear
72000
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
29000
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
33000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
15000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
13000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y9M29D
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y9M29D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0898
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0997
CY2023Q1 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
CY2023Q1 achv Indemnification Expense
IndemnificationExpense
0

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