$ACHV
ACHIEVE LIFE SCIENCES, INC.

2023 Q3 Form 10-Q Financial Statement

#000095017023042401 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.990M $3.129M
YoY Change 7.94% 9.18%
% of Gross Profit
Research & Development $3.581M $4.585M
YoY Change -63.71% -36.38%
% of Gross Profit
Depreciation & Amortization $60.00K $55.00K
YoY Change 9.09% -1.79%
% of Gross Profit
Operating Expenses $3.581M $4.585M
YoY Change -63.71% -36.38%
Operating Profit
YoY Change
Interest Expense $781.0K $712.0K
YoY Change 62.37% 76.24%
% of Operating Profit
Other Income/Expense, Net -$536.0K -$525.0K
YoY Change 22.37% 32.91%
Pretax Income -$7.110M -$8.239M
YoY Change -45.63% -21.29%
Income Tax
% Of Pretax Income
Net Earnings -$7.108M -$8.239M
YoY Change -45.65% -21.29%
Net Earnings / Revenue
Basic Earnings Per Share -$0.34 -$0.43
Diluted Earnings Per Share -$0.34 -$0.43
COMMON SHARES
Basic Shares Outstanding 21.11M 18.04M
Diluted Shares Outstanding 21.13M 19.05M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.90M $25.07M
YoY Change 9.36% -14.66%
Cash & Equivalents $19.90M $25.10M
Short-Term Investments
Other Short-Term Assets $1.900M $958.0K
YoY Change -27.34% -34.25%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $21.90M $26.38M
YoY Change 4.49% -15.31%
LONG-TERM ASSETS
Property, Plant & Equipment $100.0K $99.00K
YoY Change 455.56% 200.0%
Goodwill $1.034M $1.034M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $95.00K
YoY Change -58.16% -60.42%
Total Long-Term Assets $2.440M $2.536M
YoY Change -11.79% -10.61%
TOTAL ASSETS
Total Short-Term Assets $21.90M $26.38M
Total Long-Term Assets $2.440M $2.536M
Total Assets $24.34M $28.92M
YoY Change 2.59% -14.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $638.0K $361.0K
YoY Change 54.85% -44.97%
Accrued Expenses $3.400M $3.086M
YoY Change -47.72% -34.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $4.082M $3.447M
YoY Change -40.98% -35.68%
LONG-TERM LIABILITIES
Long-Term Debt $16.20M $15.73M
YoY Change 2.77% 1.75%
Other Long-Term Liabilities $0.00 $38.00K
YoY Change
Total Long-Term Liabilities $16.20M $15.77M
YoY Change 2.77% 2.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.082M $3.447M
Total Long-Term Liabilities $16.20M $15.77M
Total Liabilities $20.30M $19.22M
YoY Change -10.49% -7.7%
SHAREHOLDERS EQUITY
Retained Earnings -$160.3M -$153.2M
YoY Change 28.55% 37.28%
Common Stock $164.3M $162.9M
YoY Change 30.67% 30.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.038M $9.699M
YoY Change
Total Liabilities & Shareholders Equity $24.34M $28.92M
YoY Change 2.59% -14.92%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$7.108M -$8.239M
YoY Change -45.65% -21.29%
Depreciation, Depletion And Amortization $60.00K $55.00K
YoY Change 9.09% -1.79%
Cash From Operating Activities -$5.140M -$6.676M
YoY Change -54.54% -19.76%
INVESTING ACTIVITIES
Capital Expenditures $20.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$20.00K
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 0.000 15.23M
YoY Change -100.0% 1019.1%
NET CHANGE
Cash From Operating Activities -5.140M -6.676M
Cash From Investing Activities -20.00K
Cash From Financing Activities 0.000 15.23M
Net Change In Cash -5.160M 8.555M
YoY Change -53.85% -222.93%
FREE CASH FLOW
Cash From Operating Activities -$5.140M -$6.676M
Capital Expenditures $20.00K
Free Cash Flow -$5.160M
YoY Change

Facts In Submission

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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-15000000
CY2015Q2 us-gaap Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
3100000
CY2015Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P14Y
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
112000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
223000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
223000
CY2023Q2 achv Finite Lived Intangible Assets Amortization Expense After Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearTwo
750000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1308000
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
23266000
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
23266000
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
50000
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
50000
achv Maximum Maturity Period Of Cash And Cash Equivalents
MaximumMaturityPeriodOfCashAndCashEquivalents
P90D
CY2023Q2 us-gaap Cash
Cash
1400000
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
15000000
CY2023Q2 us-gaap Convertible Debt
ConvertibleDebt
15731000
CY2023Q2 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
15686000
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
CY2023Q2 us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0225
CY2023Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.07
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
15000000
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
15000000
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
17000
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
67000
CY2023Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1715000
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1138000
CY2023Q2 achv Discount On Modification Of Debt
DiscountOnModificationOfDebt
1074000
CY2023Q2 achv Accretion Of Discount On Modification Debt
AccretionOfDiscountOnModificationDebt
107000
CY2023Q2 us-gaap Convertible Debt
ConvertibleDebt
15731000
CY2022Q4 us-gaap Convertible Debt
ConvertibleDebt
16071000
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2023Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
139750
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
139750
CY2022Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
26625
CY2022Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
26625
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
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
639500
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.23
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
33
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
26045.33
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1461982
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.15
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0360
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0165
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M18D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.1519
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.2280
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1189000
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
840000
us-gaap Share Based Compensation
ShareBasedCompensation
2275000
us-gaap Share Based Compensation
ShareBasedCompensation
1663000
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
4800000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7090100
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2315337
CY2023Q2 us-gaap Contractual Obligation
ContractualObligation
108000
CY2023Q2 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
34000
CY2023Q2 us-gaap Contractual Obligation Due In Second And Third Year
ContractualObligationDueInSecondAndThirdYear
74000
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
28000
us-gaap Operating Lease Expense
OperatingLeaseExpense
57000
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
33000
us-gaap Operating Lease Expense
OperatingLeaseExpense
66000
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
13000
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
16000
us-gaap Operating Lease Payments
OperatingLeasePayments
28000
us-gaap Operating Lease Payments
OperatingLeasePayments
29000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M29D
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y6M29D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M29D
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y6M29D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0898
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0997
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0898
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0997
CY2023Q2 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
achv Indemnification Expense
IndemnificationExpense
0

Files In Submission

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achv-20230630_cal.xml Edgar Link unprocessable
achv-20230630_lab.xml Edgar Link unprocessable
achv-20230630_pre.xml Edgar Link unprocessable
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0000950170-23-042401-index.html Edgar Link pending
0000950170-23-042401.txt Edgar Link pending
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achv-20230630.htm Edgar Link pending
achv-20230630.xsd Edgar Link pending
achv-ex31_1.htm Edgar Link pending
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