$ACHV
ACHIEVE LIFE SCIENCES, INC.

2022 Q4 Form 10-Q Financial Statement

#000156459022037646 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.248M $2.770M $2.102M
YoY Change -13.84% 31.78% 13.01%
% of Gross Profit
Research & Development $8.614M $9.869M $4.591M
YoY Change 91.17% 114.96% 142.78%
% of Gross Profit
Depreciation & Amortization $65.00K $55.00K $61.00K
YoY Change 4.84% -9.84% 1.67%
% of Gross Profit
Operating Expenses $10.86M $9.869M $6.693M
YoY Change 52.66% 47.45% 253.94%
Operating Profit
YoY Change
Interest Expense -$429.0K $481.0K $3.000K
YoY Change -14400.0% 15933.33%
% of Operating Profit
Other Income/Expense, Net $59.00K -$438.0K -$1.000K
YoY Change -251.28% 43700.0% -90.0%
Pretax Income -$11.23M -$13.08M -$6.691M
YoY Change 57.07% 95.44% 77.95%
Income Tax
% Of Pretax Income
Net Earnings -$11.23M -$13.08M -$6.691M
YoY Change 57.07% 95.44% 77.76%
Net Earnings / Revenue
Basic Earnings Per Share -$1.35 -$0.71
Diluted Earnings Per Share -$0.83 -$1.35 -$707.9K
COMMON SHARES
Basic Shares Outstanding 9.711M 9.682M 9.452M
Diluted Shares Outstanding 9.694M 9.452M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.77M $18.20M $33.31M
YoY Change -42.42% -45.37% 48.71%
Cash & Equivalents $24.80M $18.20M $33.30M
Short-Term Investments
Other Short-Term Assets $2.454M $2.615M $1.270M
YoY Change 72.94% 105.91% -25.29%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $27.33M $20.96M $34.73M
YoY Change -38.71% -39.66% 44.12%
LONG-TERM ASSETS
Property, Plant & Equipment $4.000K $18.00K $100.0K
YoY Change -73.33% -82.0% 100.0%
Goodwill $1.034M $1.034M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $66.00K $239.0K $235.0K
YoY Change -60.71% 1.7% -41.25%
Total Long-Term Assets $2.641M $2.766M $3.066M
YoY Change -9.62% -9.78% -12.4%
TOTAL ASSETS
Total Short-Term Assets $27.33M $20.96M $34.73M
Total Long-Term Assets $2.641M $2.766M $3.066M
Total Assets $29.97M $23.72M $37.80M
YoY Change -36.92% -37.24% 36.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.660M $412.0K $815.0K
YoY Change 97.38% -49.45% 171.67%
Accrued Expenses $3.868M $6.504M $2.261M
YoY Change 4.29% 187.66% 50.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $16.07M
YoY Change
Total Short-Term Liabilities $21.60M $6.916M $3.076M
YoY Change 374.7% 124.84% 70.89%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $15.76M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $69.00K $0.00 $23.00K
YoY Change 1625.0% -100.0% -77.0%
Total Long-Term Liabilities $69.00K $15.76M $23.00K
YoY Change -99.54% 68434.78% -77.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.60M $6.916M $3.076M
Total Long-Term Liabilities $69.00K $15.76M $23.00K
Total Liabilities $21.67M $22.68M $3.099M
YoY Change 11.27% 631.82% 63.11%
SHAREHOLDERS EQUITY
Retained Earnings -$135.9M -$124.7M -$86.40M
YoY Change 45.21% 44.33%
Common Stock $144.2M $125.7M
YoY Change 18.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.303M $1.044M $34.70M
YoY Change
Total Liabilities & Shareholders Equity $29.97M $23.72M $37.80M
YoY Change -36.92% -37.24% 36.95%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$11.23M -$13.08M -$6.691M
YoY Change 57.07% 95.44% 77.76%
Depreciation, Depletion And Amortization $65.00K $55.00K $61.00K
YoY Change 4.84% -9.84% 1.67%
Cash From Operating Activities -$11.14M -$11.31M -$8.694M
YoY Change 113.55% 30.06% 100.79%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 17.71M 126.0K 8.000K
YoY Change 18.66% 1475.0% -99.95%
NET CHANGE
Cash From Operating Activities -11.14M -11.31M -8.694M
Cash From Investing Activities 0.000
Cash From Financing Activities 17.71M 126.0K 8.000K
Net Change In Cash 6.570M -11.18M -8.686M
YoY Change -32.34% 28.72% -184.49%
FREE CASH FLOW
Cash From Operating Activities -$11.14M -$11.31M -$8.694M
Capital Expenditures $0.00
Free Cash Flow -$8.694M
YoY Change 101.25%

Facts In Submission

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dei Security12b Title
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CY2021Q2 achv Shares Issued On Exercise Of Warrants Value
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CY2021Q2 us-gaap Stock Issued During Period Value New Issues
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CY2021Q2 us-gaap Stockholders Equity
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CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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530000
CY2021Q3 achv Shares Issued On Exercise Of Warrants Value
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8000
CY2021Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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-1000
CY2021Q3 us-gaap Net Income Loss
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CY2021Q3 us-gaap Stockholders Equity
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CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
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CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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us-gaap Net Cash Provided By Used In Operating Activities
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100000
CY2022Q3 us-gaap Cash Equivalents At Carrying Value
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15000000
CY2022Q3 us-gaap Convertible Debt
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CY2022Q3 us-gaap Convertible Debt Fair Value Disclosures
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CY2021Q4 us-gaap Convertible Debt
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CY2021Q4 us-gaap Convertible Debt Fair Value Disclosures
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15204000
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0.0225
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CY2021Q4 us-gaap Debt Instrument Face Amount
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15000000
CY2022Q3 us-gaap Deferred Finance Costs Net
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84000
CY2021Q4 us-gaap Deferred Finance Costs Net
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109000
CY2022Q3 us-gaap Interest Payable Current And Noncurrent
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847000
CY2021Q4 us-gaap Interest Payable Current And Noncurrent
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29000
CY2022Q3 us-gaap Convertible Debt
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CY2021Q4 us-gaap Convertible Debt
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14920000
CY2022Q3 us-gaap Common Stock Shares Authorized
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150000000
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
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0.001
CY2022Q3 us-gaap Preferred Stock Shares Authorized
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5000000
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
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0
us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2022Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
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26625
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
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26625
CY2021Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2021Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
231
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
231
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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522090
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
26.11
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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300450
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.83
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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25
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
28522.56
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
822515
CY2022Q3 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 Fair Value Assumptions Risk Free Interest Rate
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0.0165
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0064
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0
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 Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.2280
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.0961
CY2022Q3 us-gaap Share Based Compensation
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829000
CY2021Q3 us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
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CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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3700000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2315337
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1818996
CY2022Q3 us-gaap Contractual Obligation
ContractualObligation
21000
CY2022Q3 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
21000
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
25000
us-gaap Operating Lease Expense
OperatingLeaseExpense
91000
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
29000
us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
16000
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
15000
us-gaap Operating Lease Payments
OperatingLeasePayments
68000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y3M29D
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y3M29D
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y3M29D
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y3M29D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0997
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0997
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0997
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0997
CY2022Q3 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
achv Indemnification Expense
IndemnificationExpense
0

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