2024 Q4 Form 10-Q Financial Statement

#000182912624006792 Filed on October 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q2 2024 Q1
Revenue $805.0K $3.451M
YoY Change -27.61% 253.22%
Cost Of Revenue $155.0K $1.019M
YoY Change -91.86% -31.33%
Gross Profit $650.0K $2.432M
YoY Change -181.97% -579.68%
Gross Profit Margin 80.75% 70.47%
Selling, General & Admin $6.372M $6.903M
YoY Change -23.51% -18.68%
% of Gross Profit 980.31% 283.84%
Research & Development $3.587M $1.415M
YoY Change 24.42% -54.95%
% of Gross Profit 551.85% 58.18%
Depreciation & Amortization $400.0K $717.0K
YoY Change -50.0% 79.25%
% of Gross Profit 61.54% 29.48%
Operating Expenses $9.959M $8.318M
YoY Change -11.19% -28.48%
Operating Profit -$8.633M -$4.305M
YoY Change -59.44% -63.59%
Interest Expense -$210.0K -$241.0K
YoY Change -225.75% -449.28%
% of Operating Profit
Other Income/Expense, Net -$2.466M -$17.00K
YoY Change 205.96% -109.83%
Pretax Income -$11.27M -$9.411M
YoY Change -48.35% -15.91%
Income Tax $0.00 -$55.00K
% Of Pretax Income
Net Earnings -$11.27M -$9.356M
YoY Change -48.36% -21.96%
Net Earnings / Revenue -1400.37% -271.11%
Basic Earnings Per Share -$4.28 -$3.62
Diluted Earnings Per Share -$4.28 -$3.62
COMMON SHARES
Basic Shares Outstanding 2.637M shares 2.634M shares 2.585M shares
Diluted Shares Outstanding 2.634M shares 2.585M shares

Balance Sheet

Concept 2024 Q4 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $682.0K $774.0K
YoY Change -93.22% -96.04%
Cash & Equivalents $682.0K $774.0K
Short-Term Investments
Other Short-Term Assets $1.551M $1.121M
YoY Change -21.82% -44.5%
Inventory $1.986M $2.077M
Prepaid Expenses $1.763M $2.063M
Receivables $922.0K $1.085M
Other Receivables $1.399M $976.0K
Total Short-Term Assets $6.915M $7.229M
YoY Change -78.03% -81.46%
LONG-TERM ASSETS
Property, Plant & Equipment $6.734M $20.75M
YoY Change -67.16% 2.91%
Goodwill
YoY Change
Intangibles $76.00K $77.00K
YoY Change -96.02% -98.68%
Long-Term Investments
YoY Change
Other Assets $303.0K $301.0K
YoY Change -94.07% -94.77%
Total Long-Term Assets $7.454M $24.92M
YoY Change -77.02% -40.45%
TOTAL ASSETS
Total Short-Term Assets $6.915M $7.229M
Total Long-Term Assets $7.454M $24.92M
Total Assets $14.37M $32.15M
YoY Change -77.51% -60.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.283M $5.679M
YoY Change -4.0% 5.23%
Accrued Expenses $716.0K $813.0K
YoY Change -28.61% -50.4%
Deferred Revenue $2.221M $2.280M
YoY Change 133.54% 131.24%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.78M $17.26M
YoY Change 17.94% 15.81%
LONG-TERM LIABILITIES
Long-Term Debt $537.0K $0.00
YoY Change
Other Long-Term Liabilities $671.0K $8.811M
YoY Change -9.81% 1081.06%
Total Long-Term Liabilities $1.469M $8.811M
YoY Change -85.96% -18.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.78M $17.26M
Total Long-Term Liabilities $1.469M $8.811M
Total Liabilities $17.25M $26.07M
YoY Change -27.66% 1.13%
SHAREHOLDERS EQUITY
Retained Earnings -$199.8M
YoY Change 41.11%
Common Stock $0.00 $0.00
YoY Change -100.0% -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.879M $6.079M
YoY Change
Total Liabilities & Shareholders Equity $14.37M $32.15M
YoY Change -77.51% -60.23%

Cashflow Statement

Concept 2024 Q4 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$11.27M -$9.356M
YoY Change -48.36% -21.96%
Depreciation, Depletion And Amortization $400.0K $717.0K
YoY Change -50.0% 79.25%
Cash From Operating Activities -$1.934M -$2.876M
YoY Change -74.04% -74.88%
INVESTING ACTIVITIES
Capital Expenditures -$1.000K $29.00K
YoY Change -100.07% -96.82%
Acquisitions
YoY Change
Other Investing Activities $300.0K
YoY Change -114.27%
Cash From Investing Activities $301.0K -$29.00K
YoY Change -108.51% -98.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 696.0K $126.0K
YoY Change -79.59%
NET CHANGE
Cash From Operating Activities -1.934M -$2.876M
Cash From Investing Activities 301.0K -$29.00K
Cash From Financing Activities 696.0K $126.0K
Net Change In Cash -937.0K -$2.779M
YoY Change -87.64% -79.16%
FREE CASH FLOW
Cash From Operating Activities -$1.934M -$2.876M
Capital Expenditures -$1.000K $29.00K
Free Cash Flow -$1.933M -$2.905M
YoY Change -78.25% -76.49%

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CY2023Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
159000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-165000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
118000 usd
CY2024Q2 adn Loss Contingency
LossContingency
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adn Loss Contingency
LossContingency
4871000 usd
CY2024Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2466000 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-806000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2483000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-760000 usd
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-11273000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-21827000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-20684000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-33019000 usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-55000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
800000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-11273000 usd
us-gaap Net Income Loss
NetIncomeLoss
-20629000 usd
us-gaap Net Income Loss
NetIncomeLoss
-33819000 usd
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.28
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-12.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.91
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-19.25
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2634179 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1780574 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2609549 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1757137 shares
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.28
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-12.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.91
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-19.25
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1780574 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2609549 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1757137 shares
CY2024Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
50000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-6000 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-22000 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
330000 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
50000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-6000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-22000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
330000 usd
CY2024Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-11273000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-21827000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-20684000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-33019000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-55000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
800000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-11273000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-21831000 usd
us-gaap Net Income Loss
NetIncomeLoss
-33819000 usd
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.28
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-12.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.91
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2634179 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1780574 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2609549 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1757137 shares
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.28
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-12.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.91
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-19.25
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2634179 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1780574 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2609549 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1757137 shares
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-11273000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-21831000 usd
us-gaap Net Income Loss
NetIncomeLoss
-20629000 usd
us-gaap Net Income Loss
NetIncomeLoss
-33819000 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
50000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-6000 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-22000 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
330000 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
50000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
330000 usd
CY2024Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-11223000 usd
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-21837000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-20651000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-33489000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
6079000 usd
CY2024Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
156000 usd
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2109000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-11273000 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
50000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2023Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4179000 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2317000 usd
CY2023Q2 adn Reclassification Of Private Warrants
ReclassificationOfPrivateWarrants
332000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-21831000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-6000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
40059000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
13448000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
282000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4042000 usd
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-21837000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-20651000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
6079000 usd
CY2024Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
156000 usd
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2109000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-11273000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-2879000 usd
CY2023Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4179000 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2317000 usd
CY2023Q2 adn Reclassification Of Private Warrants
ReclassificationOfPrivateWarrants
332000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-21831000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-6000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
40059000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
13448000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
282000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4042000 usd
us-gaap Net Income Loss
NetIncomeLoss
-20629000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-22000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-2879000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
64148000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4889000 usd
adn Reclassification Of Private Warrants
ReclassificationOfPrivateWarrants
332000 usd
us-gaap Net Income Loss
NetIncomeLoss
-33819000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
330000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
40059000 usd
us-gaap Net Income Loss
NetIncomeLoss
-20629000 usd
us-gaap Net Income Loss
NetIncomeLoss
-33819000 usd
us-gaap Depreciation
Depreciation
1116000 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
2000 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
409000 usd
us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
9763000 usd
us-gaap Litigation Settlement Expense
LitigationSettlementExpense
4871000 usd
adn Credit Loss Allowance
CreditLossAllowance
59000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-59000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-489000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4042000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4889000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1025000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-55000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
801000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-12733000 usd
adn Provision For Inventories
ProvisionForInventories
239000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
9000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
12000 usd
adn Foreign Exchange Differences Net
ForeignExchangeDifferencesNet
111000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
586000 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-1000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-422000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2322000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
443000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
664000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-3000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-1329000 usd
us-gaap Net Income Loss
NetIncomeLoss
-20629000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-22000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-2879000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
64148000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4179000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4889000 usd
us-gaap Net Income Loss
NetIncomeLoss
-33819000 usd
us-gaap Net Income Loss
NetIncomeLoss
-20629000 usd
us-gaap Net Income Loss
NetIncomeLoss
-33819000 usd
us-gaap Depreciation
Depreciation
1116000 usd
us-gaap Depreciation
Depreciation
1210000 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
2000 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
409000 usd
us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
9763000 usd
adn Credit Loss Allowance
CreditLossAllowance
59000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-59000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4042000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4889000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1025000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-55000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
801000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-12733000 usd
adn Provision For Inventories
ProvisionForInventories
239000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
12000 usd
adn Foreign Exchange Differences Net
ForeignExchangeDifferencesNet
111000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
586000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
119000 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-9000 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-1000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-422000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2322000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
443000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
664000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-3000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-1329000 usd
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
1239000 usd
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-23000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-832000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
255000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
158000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-119000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-1104000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-121000 usd
adn Increase Decrease In Operating Lease Asset And Liabilities
IncreaseDecreaseInOperatingLeaseAssetAndLiabilities
-7208000 usd
adn Increase Decrease In Operating Lease Asset And Liabilities
IncreaseDecreaseInOperatingLeaseAssetAndLiabilities
-436000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4810000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
300000 usd
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
28000 usd
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
2348000 usd
adn Payments To Acquire Fixed Assets
PaymentsToAcquireFixedAssets
1214000 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1864000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
272000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
1239000 usd
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-23000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-832000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
542000 usd
adn Increase In Loss Contingency Liability
IncreaseInLossContingencyLiability
292000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
255000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
158000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-119000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-1104000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-121000 usd
adn Increase Decrease In Operating Lease Asset And Liabilities
IncreaseDecreaseInOperatingLeaseAssetAndLiabilities
-7208000 usd
adn Increase Decrease In Operating Lease Asset And Liabilities
IncreaseDecreaseInOperatingLeaseAssetAndLiabilities
-436000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-18899000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
300000 usd
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
2348000 usd
adn Payments To Acquire Fixed Assets
PaymentsToAcquireFixedAssets
1214000 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1864000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
272000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5426000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
282000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
3410000 usd
adn Proceeds From Borrowings
ProceedsFromBorrowings
540000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
822000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3410000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3716000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-20915000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-14000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
94000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4412000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
682000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12798000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
682000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10052000 usd
CY2023Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
1996000 usd
CY2023Q2 us-gaap Restricted Cash Equivalents Noncurrent
RestrictedCashEquivalentsNoncurrent
750000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
682000 usd
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
12798000 usd
us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
769000 usd
CY2024Q2 adn Negative Net Working Capital
NegativeNetWorkingCapital
8900000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
900000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
900000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
282000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
3410000 usd
adn Proceeds From Borrowings
ProceedsFromBorrowings
540000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
822000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3410000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-20915000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-14000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
94000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4412000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33619000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
682000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12798000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
682000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10052000 usd
CY2023Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
1996000 usd
CY2023Q2 us-gaap Restricted Cash Equivalents Noncurrent
RestrictedCashEquivalentsNoncurrent
750000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
682000 usd
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
12798000 usd
us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
769000 usd
us-gaap Basis Of Accounting
BasisOfAccounting
<p id="xdx_809_eus-gaap--BasisOfAccounting_zgIY9fTPkM71" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"> <b>1.</b> <b><span id="xdx_82C_zhJKFYZWK7lk">Basis of presentation</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Overview</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Advent Technologies Holdings, Inc. and its subsidiaries (collectively referred to as “Advent” and the “Company”) is an advanced materials and technology development company operating in the fuel cell, methanol, and hydrogen technology space. Advent is a world-leading company in the development of the HT-PEM technology (with more than 150 patents issued, pending, or licensed worldwide). The HT-PEM fuel cell technology developed by Advent enables off-grid power systems to produce clean power from various green fuels (hydrogen, methanol, bio and eMethanol, and renewable natural gas) and to function with higher efficiency at extreme ambient temperatures and in general extreme environmental conditions (humidity, air pollution). Advent’s main operations focus on developing and manufacturing the Membrane Electrode Assembly (MEA), which is the core electrochemical element and the most critical component of the fuel cell. The MEA largely determines lifetime, power density, efficiency, and overall cost of installation and operation for all applications. Advent is working with world-leading market-leading OEMs with the goal of bringing to the market complete fuel cell systems for a range of applications in the stationary power markets (backup, off-grid, and portable power) and the heavy-duty mobility markets (automotive, aviation, marine).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Advent has its headquarters in Livermore, California, and the Company has MEA and fuel cell product development facilities in Livermore, California and Patras, Greece. Previously, the Company’s headquarters were located in Boston, Massachusetts. During 2023, the Company decided to consolidate certain of its German operations with its operations in Greece. During June 2024, the Company closed its facilities in Boston, MA, and no longer maintains its facilities in Denmark and the Philippines due to the bankruptcy of Advent Technologies A/S in July 2024, as discussed in Note 22 Subsequent events.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 4, 2021 (“Closing Date”), AMCI Acquisition Corp. (“AMCI”), consummated the business combination (the “Business Combination”) pursuant to that certain merger agreement (the “Agreement and Plan of Merger”), dated October 12, 2020, by and among AMCI, AMCI Merger Sub Corp., a Delaware corporation and newly formed wholly-owned subsidiary of AMCI (“Merger Sub”), AMCI Sponsor LLC (the “Sponsor”), solely in the capacity as the representative from and after the effective time of the Business Combination for the stockholders of AMCI, Advent Technologies, Inc., a Delaware corporation (“Legacy Advent”), and Vassilios Gregoriou, solely in his capacity as the representative from and after the effective time for the Legacy Advent stockholders (the “Seller Representative”), as amended by Amendment No. 1 and Amendment No. 2 to the Agreement and Plan of Merger, dated as of October 19, 2020 and December 31, 2020, respectively, by and among AMCI, Merger Sub, Sponsor, Legacy Advent, and Seller Representative. In connection with the closing of the Business Combination (the “Closing”), AMCI acquired <span id="xdx_909_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_c20210204__us-gaap--BusinessAcquisitionAxis__custom--AMCIAcquisitionCorpMember_pdd" title="Acquired percentage">100%</span> of the stock of Legacy Advent (as it existed immediately prior to the Closing) and its subsidiaries.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On the Closing Date, and in connection with the closing of the Business Combination, AMCI changed its name to Advent Technologies Holdings, Inc. Legacy Advent was deemed the accounting acquirer in the Business Combination based on an analysis of the criteria outlined in Accounting Standards Codification (“ASC”) 805. This determination was primarily based on Legacy Advent’s stockholders prior to the Business Combination having a majority of the voting interests in the combined company, Legacy Advent’s operations comprising the ongoing operations of the combined company, Legacy Advent’s board of directors comprising a majority of the board of directors of the combined company, and Legacy Advent’s senior management comprising the senior management of the combined company. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of Legacy Advent issuing stock for the net assets of AMCI, accompanied by a recapitalization. The net assets of AMCI are stated at historical cost, with no goodwill or other intangible assets recorded.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">While AMCI was the legal acquirer in the Business Combination, because Legacy Advent was deemed the accounting acquirer, the historical financial statements of Legacy Advent became the historical financial statements of the combined company, upon the consummation of the Business Combination. As a result, the consolidated financial statements included in this report reflect (i) the historical operating results of Legacy Advent prior to the Business Combination; (ii) the results of the Company (combined results of AMCI and Legacy Advent) following the closing of the Business Combination; (iii) the assets and liabilities of Legacy Advent at their historical cost; and (iv) Company’s equity structure for all periods presented.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In accordance with guidance applicable to these circumstances, the equity structure has been restated in all comparative periods up to the Closing Date, to reflect the number of shares of the Company’s common stock, $<span id="xdx_900_eus-gaap--CommonStockParOrStatedValuePerShare_c20210204__us-gaap--BusinessAcquisitionAxis__custom--AMCIAcquisitionCorpMember_pdd" title="Common stock, par value (in dollars per share)">0.0001</span> par value per share, issued to Legacy Advent’s stockholders in connection with the recapitalization transaction. As such, the shares and corresponding capital amounts and earnings per share related to Legacy Advent Preferred Stock (“Preferred Series A” and “Preferred Series Seed”) and Legacy Advent common stock prior to the Business Combination have been retroactively restated as shares reflecting the exchange ratio established in the Business Combination Agreement. Activity within the statement of changes in stockholders’ equity / (deficit) for the issuances of Legacy Advent’s Preferred Stock, were also retroactively converted to Legacy Advent common stock.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 18, 2021, Advent Technologies, Inc. entered into a Membership Interest Purchase Agreement with Bren-Tronics, Inc. (“Bren-Tronics”) and UltraCell, LLC (“UltraCell”), a Delaware limited liability company and a direct wholly owned subsidiary of Bren-Tronics.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">UltraCell LLC was renamed to Advent Technologies LLC following its acquisition by the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 25, 2021, the Company entered into a Share Purchase Agreement, with F.E.R. fischer Edelstahlrohre GmbH, a limited liability company incorporated under the Laws of Germany (the “Seller”) to acquire all of the issued and outstanding equity interests in SerEnergy A/S, a Danish stock corporation and a wholly-owned subsidiary of the Seller (“SerEnergy”) and fischer eco solutions GmbH, a German limited liability company and a wholly-owned subsidiary of the Seller (“FES”) together with certain outstanding shareholder loan receivables.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">SerEnergy and FES were renamed to Advent Technologies A/S and Advent Technologies GmbH, respectively, following their acquisition by the Company on August 31, 2021.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The unaudited condensed consolidated financial statements of the Company have been prepared to reflect the consolidation of the companies listed below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_885_ecustom--SubsidiariesInConsolidationTableTextBlock_pn3n3_z3yPOA1CXUy3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Basis of presentation (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B9_zohqS8YzKOO7" style="display: none">Schedule of subsidiaries in consolidation</span></td> <td> </td> <td style="text-align: center"> </td> <td> </td> <td style="text-align: center"> </td> <td> </td> <td style="text-align: center"> </td> <td> </td> <td style="text-align: center"> </td> <td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="font-weight: bold; text-align: center">Country of</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Ownership Interest</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Statements of Operations</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: left">Company Name</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Incorporation</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Direct</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Indirect</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 41%; text-align: left"><span id="xdx_906_ecustom--NameOfSubsidiary_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesIncMember" title="Company Name">Advent Technologies, Inc.</span></td> <td style="width: 1%"> </td> <td style="width: 10%; text-align: center"><span id="xdx_906_ecustom--SubsidiaryPlaceOfIncorporation_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesIncMember" title="Country of Incorporation">USA</span></td> <td style="width: 2%"> </td> <td style="width: 10%; text-align: center"><span id="xdx_90D_ecustom--OwnershipPercentageInSubsdaries_c20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesIncMember__srt--OwnershipAxis__custom--DirectOwnershipMember_pdd" title="Ownership Interest">100%</span></td> <td style="width: 2%"> </td> <td style="width: 10%; text-align: center"><span id="xdx_905_ecustom--OwnershipPercentageInSubsdaries_c20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesIncMember__srt--OwnershipAxis__custom--IndirectOwnershipMember_pdd" title="Ownership Interest"><span style="-sec-ix-hidden: xdx2ixbrl0845">-</span></span></td> <td style="width: 2%"> </td> <td style="width: 10%; text-align: center"><span id="xdx_90E_ecustom--StatementsOfOperationsDate_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesIncMember" title="Statements of Operations date">01/01 – 6/30</span></td> <td style="width: 2%"> </td> <td style="width: 10%; text-align: center"><span id="xdx_908_ecustom--StatementsOfOperationsDate_c20230101__20230630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesIncMember" title="Statements of Operations date">01/01 – 6/30</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_901_ecustom--NameOfSubsidiary_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesSAMember" title="Company Name">Advent Technologies S.A.</span></td> <td> </td> <td style="text-align: center"><span id="xdx_904_ecustom--SubsidiaryPlaceOfIncorporation_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesSAMember" title="Country of Incorporation">Greece</span></td> <td> </td> <td style="text-align: center"><span id="xdx_902_ecustom--OwnershipPercentageInSubsdaries_c20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesSAMember__srt--OwnershipAxis__custom--DirectOwnershipMember_pdd" title="Ownership Interest"><span style="-sec-ix-hidden: xdx2ixbrl0855">-</span></span></td> <td> </td> <td style="text-align: center"><span id="xdx_908_ecustom--OwnershipPercentageInSubsdaries_c20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesSAMember__srt--OwnershipAxis__custom--IndirectOwnershipMember_pdd" title="Ownership Interest">100%</span></td> <td> </td> <td style="text-align: center"><span id="xdx_90C_ecustom--StatementsOfOperationsDate_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesSAMember" title="Statements of Operations date">01/01 – 6/30</span></td> <td> </td> <td style="text-align: center"><span id="xdx_90E_ecustom--StatementsOfOperationsDate_c20230101__20230630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesSAMember" title="Statements of Operations date">01/01 – 6/30</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_903_ecustom--NameOfSubsidiary_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesLLCMember" title="Company Name">Advent Technologies LLC</span></td> <td> </td> <td style="text-align: center"><span id="xdx_909_ecustom--SubsidiaryPlaceOfIncorporation_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesLLCMember" title="Country of Incorporation">USA</span></td> <td> </td> <td style="text-align: center"><span id="xdx_901_ecustom--OwnershipPercentageInSubsdaries_c20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesLLCMember__srt--OwnershipAxis__custom--DirectOwnershipMember_pdd" title="Ownership Interest"><span style="-sec-ix-hidden: xdx2ixbrl0867">-</span></span></td> <td> </td> <td style="text-align: center"><span id="xdx_90B_ecustom--OwnershipPercentageInSubsdaries_c20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesLLCMember__srt--OwnershipAxis__custom--IndirectOwnershipMember_pdd" title="Ownership Interest">100%</span></td> <td> </td> <td style="text-align: center"><span id="xdx_90B_ecustom--StatementsOfOperationsDate_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesLLCMember" title="Statements of Operations date">01/01 – 6/30</span></td> <td> </td> <td style="text-align: center"><span id="xdx_90D_ecustom--StatementsOfOperationsDate_c20230101__20230630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesLLCMember" title="Statements of Operations date">01/01 – 6/30</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_909_ecustom--NameOfSubsidiary_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesGmbHMember" title="Company Name">Advent Technologies GmbH</span></td> <td> </td> <td style="text-align: center"><span id="xdx_90D_ecustom--SubsidiaryPlaceOfIncorporation_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesGmbHMember" title="Country of Incorporation">Germany</span></td> <td> </td> <td style="text-align: center"><span id="xdx_90A_ecustom--OwnershipPercentageInSubsdaries_c20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesGmbHMember__srt--OwnershipAxis__custom--DirectOwnershipMember_pdd" title="Ownership Interest">100%</span></td> <td> </td> <td style="text-align: center"><span id="xdx_90D_ecustom--OwnershipPercentageInSubsdaries_c20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesGmbHMember__srt--OwnershipAxis__custom--IndirectOwnershipMember_pdd" title="Ownership Interest"><span style="-sec-ix-hidden: xdx2ixbrl0881">-</span></span></td> <td> </td> <td style="text-align: center"><span id="xdx_907_ecustom--StatementsOfOperationsDate_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesGmbHMember" title="Statements of Operations date">01/01 – 6/30</span></td> <td> </td> <td style="text-align: center"><span id="xdx_90E_ecustom--StatementsOfOperationsDate_c20230101__20230630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesGmbHMember" title="Statements of Operations date">01/01 – 6/30</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_901_ecustom--NameOfSubsidiary_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesASMember" title="Company Name">Advent Technologies A/S</span></td> <td> </td> <td style="text-align: center"><span id="xdx_904_ecustom--SubsidiaryPlaceOfIncorporation_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesASMember" title="Country of Incorporation">Denmark</span></td> <td> </td> <td style="text-align: center"><span id="xdx_902_ecustom--OwnershipPercentageInSubsdaries_c20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesASMember__srt--OwnershipAxis__custom--DirectOwnershipMember_pdd" title="Ownership Interest">100%</span></td> <td> </td> <td style="text-align: center"><span id="xdx_908_ecustom--OwnershipPercentageInSubsdaries_c20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesASMember__srt--OwnershipAxis__custom--IndirectOwnershipMember_pdd" title="Ownership Interest"><span style="-sec-ix-hidden: xdx2ixbrl0893">-</span></span></td> <td> </td> <td style="text-align: center"><span id="xdx_90C_ecustom--StatementsOfOperationsDate_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesASMember" title="Statements of Operations date">01/01 – 6/30</span></td> <td> </td> <td style="text-align: center"><span id="xdx_90E_ecustom--StatementsOfOperationsDate_c20230101__20230630__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesASMember" title="Statements of Operations date">01/01 – 6/30</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_90F_ecustom--NameOfSubsidiary_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventGreenEnergyPhilippinesIncMember" title="Company Name">Advent Green Energy Philippines, Inc</span></td> <td> </td> <td style="text-align: center"><span id="xdx_906_ecustom--SubsidiaryPlaceOfIncorporation_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventGreenEnergyPhilippinesIncMember" title="Country of Incorporation">Philippines</span></td> <td> </td> <td style="text-align: center"><span id="xdx_905_ecustom--OwnershipPercentageInSubsdaries_c20240630__srt--ConsolidatedEntitiesAxis__custom--AdventGreenEnergyPhilippinesIncMember__srt--OwnershipAxis__custom--DirectOwnershipMember_pdd" title="Ownership Interest"><span style="-sec-ix-hidden: xdx2ixbrl0903">-</span></span></td> <td> </td> <td style="text-align: center"><span id="xdx_90D_ecustom--OwnershipPercentageInSubsdaries_c20240630__srt--ConsolidatedEntitiesAxis__custom--AdventGreenEnergyPhilippinesIncMember__srt--OwnershipAxis__custom--IndirectOwnershipMember_pdd" title="Ownership Interest">100%</span></td> <td> </td> <td style="text-align: center"><span id="xdx_907_ecustom--StatementsOfOperationsDate_c20240101__20240630__srt--ConsolidatedEntitiesAxis__custom--AdventGreenEnergyPhilippinesIncMember" title="Statements of Operations date">01/01 – 6/30</span></td> <td> </td> <td style="text-align: center"><span id="xdx_909_ecustom--StatementsOfOperationsDate_c20230101__20230630__srt--ConsolidatedEntitiesAxis__custom--AdventGreenEnergyPhilippinesIncMember" title="Statements of Operations date">01/01 – 6/30</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has limited financial information, for the period January 1, 2024, through June 30, 2024, including the statement of operation information for Advent Technologies A/S, its wholly owned subsidiary Advent Green Energy Philippines, Inc. and Advent Technologies GmbH due to the bankruptcy of Advent Technologies A/S and the related loss of access to the underlying accounting records and access to Company finance personnel. The Company estimated changes in balance sheet accounts, revenue and expenses based upon bank statements and internal management reporting. The subsidiaries do not qualify for discontinued operations until Q3 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><b><i>Unaudited Condensed Consolidated Financial Statements</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and pursuant to the regulations of the U.S. Securities and Exchange Commission (“SEC”). The unaudited financial information reflects, in the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair statement of the Company’s financial position, results of operations and cash flows for the periods indicated. The results reported for the interim period presented are not necessarily indicative of results that may be expected for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s audited consolidated financial statements as of and for the year ended December 31, 2023, included in the Annual Report on Form 10-K filed with the SEC on August 13, 2024. We reclassified certain prior year amounts in our consolidated financial statements to conform to the current year presentation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Share and per share amounts are presented on a post-conversion basis for all periods presented, unless otherwise specified.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Going Concern</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying unaudited condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern. The Company considers that the going concern basis is appropriate for the preparation of its unaudited condensed consolidated financial statements, as it is pursuing additional fund raising as disclosed below and has no intentions to proceed with liquidation. The going concern basis of presentation assumes that the Company will continue in operation one year from the date these unaudited condensed consolidated financial statements are issued and will be able to realize its assets and discharge its liabilities and commitments in the normal course of business. As such, the accompanying unaudited condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of assets and their carrying amounts, or the amount and classification of liabilities that may result should the Company be unable to continue as a going concern. Following the significant non adjusting subsequent events of Advent Technologies A/S bankruptcy, the Company presents a Proforma Consolidated Balance Sheet as at June 30, 2024 and December 31, 2023 in the Note 22 to the consolidated financial statements to reflect the impact of those events.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40), the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for one year from the date that the unaudited condensed consolidated financial statements are issued. The Company’s ability to meet its liquidity needs will largely depend on its ability to generate cash in the future. During the six months ended June 30, 2024, the Company used $4.8 <span id="xdx_90D_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_c20240101__20240630_zbzT9AqSq7g2" style="display: none" title="Net cash used in operating activities">(4,810)</span> million of cash in operating activities, and the Company’s ability to generate cash in the future is subject to general economic, financial, competitive, legislative, regulatory, and other factors that are beyond the Company’s control. Furthermore, the Company has suffered recurring operating losses and has a negative net working capital position of $<span id="xdx_90D_ecustom--NegativeNetWorkingCapital_iI_pn3n3_dm_c20240630_zoiKaEzdWWTg" title="Negative net working capital">8.9</span> million as of June 30, 2024. In addition, as of the issuance date of these unaudited condensed consolidated financial statements the Company is overdue in a number of its obligations which could give the right to creditors at any time from the issuance date of these consolidated financial statements to raise legal action against the Company which in turn could potentially lead to liquidation action against the Company and/or its subsidiaries. The transition to profitability and positive cash flow is highly dependent upon the successful development, approval, and commercialization of the Company’s products and the achievement of a revenue level adequate to support its cost structure and the Company can give no assurances that this will occur. Based on the Company’s current operating plan, the Company believes that its cash and cash equivalents as of June 30, 2024, of $<span id="xdx_905_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_dm_c20240630__us-gaap--CashAndCashEquivalentsAxis__us-gaap--CashEquivalentsMember_zpyN8CNopY8i" title="Cash and cash equivalents">0.7</span> million and $<span id="xdx_906_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_dm_c20240925__us-gaap--CashAndCashEquivalentsAxis__us-gaap--CashEquivalentsMember_zaWxS3PPjl0d" title="Cash and cash equivalents">0.5</span> million as of September 25, 2024, are not sufficient to fund operations and capital expenditures for the twelve months following the filing of this Quarterly Report on Form 10-Q, and the Company will need to obtain additional funding in the very near term, otherwise the Company may immediately substantially curtail or terminate its operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company performed a cash flow projection on a monthly basis for the twelve-month period following the issuance of the consolidated financial statements. With regards to the cash flow projections, the projected inflows from revenues and grants will be insufficient to cover the projected outflows, as such, the Company will continue to have a negative net working capital position and a delay in the projected timing of the short term financing and inflows and/or an immediate demand by creditors of repayment of the long outstanding payables may result in the Company being insolvent and short of cash at any specific time over the coming weeks and over the next twelve months.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The highlights of the projections are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company projects cash inflows from contracted revenues and grants for which it has already signed agreements with third parties and estimates projected outflows assuming the effective implementation of the Company’s plans to reduce monthly expenditures gradually during 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The cash flow projections do not include any cash inflows or outflows from Advent Technologies A/S which was declared bankrupt by the court in Aalborg, Denmark on July 25, 2024, and its wholly owned subsidiary Green Energy Philippines, Inc. The Company did not include any outflows relating to Advent Technologies A/S, since it believes that the bankruptcy of its subsidiary, will not have any material effect, except for a potential claim of approximately $0.5 million from a supplier contract for which the parent company Advent Technologies Holdings, Inc. is the guarantor.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, the projections do not include any cash outflows relating to commitments and contingencies as disclosed in Note 20 to the unaudited condensed consolidated financial statements, since the Company believes that any cash outflows relating to these commitments will not materialize based on the Company’s plans to agree the termination of such contracts with its suppliers and a contingent loss as outcome of the pending arbitration it is not probable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Until such time as the Company generates sufficient revenue to fund its operations (if ever), the Company plans to finance its operations and repay its existing and future liabilities and other obligations through the sale of equity and/or debt securities and, to the extent available, short-term and long-term loans. As part of its plan, on July 30, 2024, the Company entered into a securities purchase agreement, (the “Purchase Agreement”), with an institutional investor (the “Investor”) pursuant to which, at the closing, defined as the filing date of the Company’s 10-K, the Company will issue to the Investor a senior promissory note in the principal amount of $1 million (the “Senior Note”), repayable within one year and bearing interest of 18%. The Company has not yet closed on the $1 million financing and no loan proceeds have yet been received by the Company. However, the Company and the Investor are working together to close this financing as soon as possible. The Investor has also committed to provide the Company with a one-year revolving line of credit for an aggregate maximum principal amount of $2 million, again bearing interest of 18% (the two debt transactions are referred to as the “Financing”). The $2 million financing is contingent upon the Company’s filing of a Registration Statement on Form S-1 with the Securities and Exchange Commission with respect to an underwritten or “best efforts” public offering by the Company of its common stock, and/or common stock equivalents registered under the Securities Act of 1933, as amended for proceeds to the Company of not less than $5 million (a “Qualified Public Equity Offering”). The Company can give no assurances as of the date of issuance of the consolidated financial statements as to whether the Company will be successful in raising this Financing and executing a Qualified Public Equity Offering. The Company will use the proceeds from the Financing for general corporate purposes, including expenses related to the preparation of its Quarterly Report on Form 10-Q for the six months ended June 30, 2024, and expenses to facilitate a Qualified Public Equity Offering and the proceeds of the Qualified Public Equity Offering for general corporate purposes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">With regards to the projected revenues and grants, a delay in the projected timing of inflows may result in the Company remaining insolvent and short of cash at any specific time over the next twelve months. Also, there is no guarantee that the Company’s plans to reduce monthly expenditures will be successful. Beyond that, there is no guarantee about when the Registration Statement in Form S-1 will be filed and therefore the committed one-year revolving line of credit of maximum $2 million will be received. In addition, there is no guarantee with regards to the Company’s ability to secure proceeds of not less than $5 million from the Qualified Public Entity Offering.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the Company is unable to obtain sufficient funding, it could be required to delay its development efforts, limit activities, and further reduce research and development costs, which could adversely affect its business prospects and delivery of contractual obligations. A cash shortfall at any point in time over the next twelve months could result in the Company failing to meet its overdue and current obligations which could trigger action against the Company and/or its subsidiaries for liquidation by employees, authorities, or creditors. Because of the uncertainty in securing additional funding, delays in growth of revenue, failure to materialize cost-cutting efforts and the insufficient amount of cash and cash equivalents as of the consolidated financial statement filing date, management has concluded that substantial doubt exists with respect to the Company’s ability to continue as a going concern for one year from the date the unaudited condensed consolidated financial statements are issued.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
us-gaap Net Cash Provided By Used In Operating Activities
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<p id="xdx_84E_eus-gaap--UseOfEstimates_zCGkgbtcMfF5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86D_zTyzea7Dckz5">Use of Estimates</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. On an on-going basis, management evaluates the estimates and judgments, including those related to the selection of useful lives for tangible assets, expected future cash flows from long-lived assets to support impairment tests, the carrying value of goodwill, provisions necessary for accounts receivables and inventory write downs, provisions for legal disputes, and contingencies. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates under different assumptions and/or conditions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
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12263000 usd
CY2023Q4 adn Provision For Inventory
ProvisionForInventory
12252000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
1986000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
2707000 usd
CY2024Q1 adn Change In Provision For Slow Moving Inventory Balance At Beginning
ChangeInProvisionForSlowMovingInventoryBalanceAtBeginning
-12271000 usd
CY2023Q1 adn Change In Provision For Slow Moving Inventory Balance At Beginning
ChangeInProvisionForSlowMovingInventoryBalanceAtBeginning
-236000 usd
CY2023Q4 adn Change In Provision For Slow Moving Inventory Balance At Beginning
ChangeInProvisionForSlowMovingInventoryBalanceAtBeginning
-12252000 usd
CY2022Q4 adn Change In Provision For Slow Moving Inventory Balance At Beginning
ChangeInProvisionForSlowMovingInventoryBalanceAtBeginning
-232000 usd
adn Provision For Slow Moving Inventory Additions
ProvisionForSlowMovingInventoryAdditions
-239000 usd
CY2024Q2 adn Provision For Slow Moving Inventory Foreign Exchange Fluctuations
ProvisionForSlowMovingInventoryForeignExchangeFluctuations
8000 usd
adn Provision For Slow Moving Inventory Foreign Exchange Fluctuations
ProvisionForSlowMovingInventoryForeignExchangeFluctuations
228000 usd
adn Provision For Slow Moving Inventory Foreign Exchange Fluctuations
ProvisionForSlowMovingInventoryForeignExchangeFluctuations
-4000 usd
CY2024Q2 adn Change In Provision For Slow Moving Inventory Balance At Beginning
ChangeInProvisionForSlowMovingInventoryBalanceAtBeginning
-12263000 usd
CY2023Q2 adn Change In Provision For Slow Moving Inventory Balance At Beginning
ChangeInProvisionForSlowMovingInventoryBalanceAtBeginning
-236000 usd
CY2024Q2 adn Change In Provision For Slow Moving Inventory Balance At Beginning
ChangeInProvisionForSlowMovingInventoryBalanceAtBeginning
-12263000 usd
CY2023Q2 adn Change In Provision For Slow Moving Inventory Balance At Beginning
ChangeInProvisionForSlowMovingInventoryBalanceAtBeginning
-236000 usd
adn Schedule Of Prepaid Expenses
ScheduleOfPrepaidExpenses
<table cellpadding="0" cellspacing="0" id="xdx_89E_ecustom--ScheduleOfPrepaidExpenses_pn3n3_z7hINl8zfdK4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Prepaid expenses and other current assets (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B9_zluhiQncXHRk" style="display: none">Schedule of prepaid expenses</span></td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_495_20240630_z5TnIXBo95mg" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_499_20231231_z6Wo7hBfGgkb" style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>June 30,<br/> 2024</b></p></td> <td style="padding-bottom: 1pt"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> <p style="margin-top: 0; margin-bottom: 0">December 31,</p> <p style="margin-top: 0; margin-bottom: 0">2023</p></td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: left"><span style="font-style: normal; font-weight: normal">(Amounts in thousands)</span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">(Unaudited)</span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-style: normal; font-weight: normal"> </span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="padding-bottom: 1pt; font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal"> </span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-style: normal; font-weight: normal"> </span></td></tr> <tr id="xdx_401_eus-gaap--PrepaidInsurance_iI_pn3n3_maPECzPl6_zcbWneI6rpVl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Prepaid insurance expenses</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">751</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">155</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--PrepaidResearch_iI_pn3n3_maPECzPl6_zemHijDmsMJ7" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Prepaid research expenses</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">13</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">36</td> <td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OtherPrepaidExpenseCurrent_iI_pn3n3_maPECzPl6_ztyuCbFZikZa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Other prepaid expenses</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">999</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">958</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PrepaidExpenseCurrent_iTI_pn3n3_mtPECzPl6_zyEUPmiqjjt3" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,763</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,149</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>
CY2024Q2 us-gaap Prepaid Insurance
PrepaidInsurance
751000 usd
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
155000 usd
CY2024Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
999000 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
958000 usd
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1763000 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1149000 usd
adn Schedule Of Prepaid Expenses
ScheduleOfPrepaidExpenses
<table cellpadding="0" cellspacing="0" id="xdx_89E_ecustom--ScheduleOfPrepaidExpenses_pn3n3_z7hINl8zfdK4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Prepaid expenses and other current assets (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B9_zluhiQncXHRk" style="display: none">Schedule of prepaid expenses</span></td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_495_20240630_z5TnIXBo95mg" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_499_20231231_z6Wo7hBfGgkb" style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>June 30,<br/> 2024</b></p></td> <td style="padding-bottom: 1pt"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> <p style="margin-top: 0; margin-bottom: 0">December 31,</p> <p style="margin-top: 0; margin-bottom: 0">2023</p></td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: left"><span style="font-style: normal; font-weight: normal">(Amounts in thousands)</span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal">(Unaudited)</span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-style: normal; font-weight: normal"> </span></td> <td style="font-weight: bold; padding-bottom: 1pt"><span style="font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="padding-bottom: 1pt; font-weight: bold; text-align: center"><span style="font-style: normal; font-weight: normal"> </span></td> <td style="padding-bottom: 1pt; font-weight: bold"><span style="font-style: normal; font-weight: normal"> </span></td></tr> <tr id="xdx_401_eus-gaap--PrepaidInsurance_iI_pn3n3_maPECzPl6_zcbWneI6rpVl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Prepaid insurance expenses</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">751</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">155</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--PrepaidResearch_iI_pn3n3_maPECzPl6_zemHijDmsMJ7" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Prepaid research expenses</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">13</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">36</td> <td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OtherPrepaidExpenseCurrent_iI_pn3n3_maPECzPl6_ztyuCbFZikZa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Other prepaid expenses</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">999</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">958</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PrepaidExpenseCurrent_iTI_pn3n3_mtPECzPl6_zyEUPmiqjjt3" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,763</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,149</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
155000 usd
CY2024Q2 adn Prepaid Research
PrepaidResearch
13000 usd
CY2023Q4 adn Prepaid Research
PrepaidResearch
36000 usd
CY2024Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
999000 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
958000 usd
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1763000 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1149000 usd
CY2024Q2 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
114000 usd
CY2023Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
273000 usd
CY2024Q2 adn Withholding Tax
WithholdingTax
19000 usd
CY2023Q4 adn Withholding Tax
WithholdingTax
20000 usd
CY2024Q2 us-gaap Grants Receivable
GrantsReceivable
559000 usd
CY2023Q4 adn Purchases Under Receipt
PurchasesUnderReceipt
1000 usd
CY2024Q2 adn Guarantees
Guarantees
9000 usd
CY2023Q4 adn Guarantees
Guarantees
9000 usd
CY2024Q2 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
707000 usd
CY2023Q4 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
152000 usd
CY2024Q2 adn Accrued Sublease Income
AccruedSubleaseIncome
130000 usd
CY2023Q4 adn Accrued Sublease Income
AccruedSubleaseIncome
80000 usd
CY2024Q2 adn Accrued Interest Income
AccruedInterestIncome
13000 usd
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
1551000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1105000 usd
us-gaap Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
406000 usd
adn Impairment Of Intangible Asset Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetIndefinitelivedExcludingGoodwill
-406000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
24328000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-4683000 usd
CY2024Q2 adn Cumulative Impairment
CumulativeImpairment
-19569000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
76000 usd
CY2024Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
24734000 usd
CY2024Q2 adn Intangible Assets Gross Excluding Goodwill Accumulated Amortization
IntangibleAssetsGrossExcludingGoodwillAccumulatedAmortization
-4683000 usd
CY2024Q2 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
114000 usd
CY2023Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
273000 usd
CY2024Q2 adn Withholding Tax
WithholdingTax
19000 usd
CY2023Q4 adn Withholding Tax
WithholdingTax
20000 usd
CY2024Q2 us-gaap Grants Receivable
GrantsReceivable
559000 usd
CY2023Q4 us-gaap Grants Receivable
GrantsReceivable
570000 usd
CY2023Q4 adn Purchases Under Receipt
PurchasesUnderReceipt
1000 usd
CY2024Q2 adn Guarantees
Guarantees
9000 usd
CY2023Q4 adn Guarantees
Guarantees
9000 usd
CY2024Q2 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
707000 usd
CY2023Q4 adn Accrued Sublease Income
AccruedSubleaseIncome
80000 usd
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
1551000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1105000 usd
us-gaap Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
406000 usd
adn Impairment Of Intangible Asset Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetIndefinitelivedExcludingGoodwill
-406000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
24328000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-4683000 usd
CY2024Q2 adn Cumulative Impairment
CumulativeImpairment
-19569000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
76000 usd
CY2024Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
24734000 usd
CY2024Q2 adn Intangible Assets Gross Excluding Goodwill Accumulated Amortization
IntangibleAssetsGrossExcludingGoodwillAccumulatedAmortization
-4683000 usd
CY2024Q2 adn Cumulative Impairment On Intangible Assets
CumulativeImpairmentOnIntangibleAssets
-19975000 usd
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
76000 usd
CY2023 us-gaap Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
406000 usd
CY2023 adn Impairment Of Intangible Asset Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetIndefinitelivedExcludingGoodwill
-406000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-4684000 usd
CY2023Q4 adn Cumulative Impairment
CumulativeImpairment
-19569000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
79000 usd
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
24738000 usd
CY2023Q4 adn Intangible Assets Gross Excluding Goodwill Accumulated Amortization
IntangibleAssetsGrossExcludingGoodwillAccumulatedAmortization
-4684000 usd
CY2023Q4 adn Cumulative Impairment On Intangible Assets
CumulativeImpairmentOnIntangibleAssets
-19975000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
79000 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1000.0 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
188000 usd
CY2024Q2 adn Cumulative Impairment On Intangible Assets
CumulativeImpairmentOnIntangibleAssets
-19975000 usd
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
76000 usd
CY2023 us-gaap Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
406000 usd
CY2023 adn Impairment Of Intangible Asset Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetIndefinitelivedExcludingGoodwill
-406000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
24332000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-4684000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
79000 usd
CY2023Q4 adn Cumulative Impairment On Intangible Assets
CumulativeImpairmentOnIntangibleAssets
-19975000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
79000 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1000.0 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
188000 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
16279000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
33568000 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7161000 usd
CY2024Q2 adn Less Cumulative Impairment
LessCumulativeImpairment
-2384000 usd
CY2023Q4 adn Less Cumulative Impairment
LessCumulativeImpairment
-2384000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6734000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21549000 usd
CY2024Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
0 usd
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
28000 usd
CY2023Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
1400000 usd
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
3900000 usd
us-gaap Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
900000 usd
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
12700000 usd
CY2024Q2 adn Sell Of Property Plant And Equipment Description
SellOfPropertyPlantAndEquipmentDescription
On May 7, 2024, the Company entered into an agreement to sell some of its coating machines (part of its property, plant and equipment) from the Hood Park facility for $0.9 million resulting in a loss of $2.5 million. On May 8, 2024, the Company received an initial deposit of $0.3 million and the remaining $0.6 million in July 2024. The remaining machinery and equipment from Hood Park was relocated and is planned for use at the Company’s other locations.
CY2023Q2 us-gaap Depreciation
Depreciation
800000 usd
us-gaap Depreciation
Depreciation
1116000 usd
us-gaap Depreciation
Depreciation
1210000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
33568000 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7161000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9635000 usd
CY2024Q2 adn Less Cumulative Impairment
LessCumulativeImpairment
-2384000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6734000 usd
CY2024Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
0 usd
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
28000 usd
CY2023Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
1400000 usd
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
3900000 usd
us-gaap Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
900000 usd
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
12700000 usd
CY2024Q2 adn Sell Of Property Plant And Equipment Description
SellOfPropertyPlantAndEquipmentDescription
On May 7, 2024, the Company entered into an agreement to sell some of its coating machines (part of its property, plant and equipment) from the Hood Park facility for $0.9 million resulting in a loss of $2.5 million. On May 8, 2024, the Company received an initial deposit of $0.3 million and the remaining $0.6 million in July 2024. The remaining machinery and equipment from Hood Park was relocated and is planned for use at the Company’s other locations.
CY2024Q2 us-gaap Depreciation
Depreciation
400000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
800000 usd
us-gaap Depreciation
Depreciation
1116000 usd
us-gaap Depreciation
Depreciation
1210000 usd
CY2024Q2 adn Trade And Other Payables
TradeAndOtherPayables
6283000 usd
CY2023Q4 adn Trade And Other Payables
TradeAndOtherPayables
5087000 usd
CY2024Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
716000 usd
CY2023Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
831000 usd
CY2024Q2 adn Other Short Term Payables Current
OtherShortTermPayablesCurrent
249000 usd
CY2023Q4 adn Other Short Term Payables Current
OtherShortTermPayablesCurrent
262000 usd
CY2024Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
249000 usd
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
257000 usd
CY2024Q2 us-gaap Accrued Vacation Current
AccruedVacationCurrent
243000 usd
CY2023Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
248000 usd
CY2024Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
223000 usd
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
228000 usd
CY2024Q2 adn Other Current Liabilities Social Security Funds
OtherCurrentLiabilitiesSocialSecurityFunds
80000 usd
CY2023Q4 adn Other Current Liabilities Social Security Funds
OtherCurrentLiabilitiesSocialSecurityFunds
81000 usd
CY2024Q2 adn Other Current Liabilities Overtime Provision
OtherCurrentLiabilitiesOvertimeProvision
8000 usd
CY2023Q4 adn Other Current Liabilities Overtime Provision
OtherCurrentLiabilitiesOvertimeProvision
9000 usd
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1768000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1916000 usd
CY2024Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
242000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
219000 usd
CY2024Q2 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
39000 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
139000 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
435000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
473000 usd
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
716000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
831000 usd
CY2024Q2 adn Trade And Other Payables
TradeAndOtherPayables
6283000 usd
CY2023Q4 adn Trade And Other Payables
TradeAndOtherPayables
5087000 usd
CY2024Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
716000 usd
CY2023Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
831000 usd
CY2024Q2 adn Other Short Term Payables Current
OtherShortTermPayablesCurrent
249000 usd
CY2023Q4 adn Other Short Term Payables Current
OtherShortTermPayablesCurrent
262000 usd
CY2024Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
249000 usd
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
257000 usd
CY2024Q2 us-gaap Accrued Vacation Current
AccruedVacationCurrent
243000 usd
CY2023Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
248000 usd
CY2024Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
223000 usd
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
228000 usd
CY2024Q2 adn Other Current Liabilities Social Security Funds
OtherCurrentLiabilitiesSocialSecurityFunds
80000 usd
CY2023Q4 adn Other Current Liabilities Social Security Funds
OtherCurrentLiabilitiesSocialSecurityFunds
81000 usd
CY2024Q2 adn Other Current Liabilities Overtime Provision
OtherCurrentLiabilitiesOvertimeProvision
8000 usd
CY2023Q4 adn Other Current Liabilities Overtime Provision
OtherCurrentLiabilitiesOvertimeProvision
9000 usd
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1768000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1916000 usd
CY2024Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
242000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
219000 usd
CY2024Q2 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
39000 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
139000 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
435000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
473000 usd
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
716000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
831000 usd
CY2021Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
6041
CY2021Q1 us-gaap Capital Lease Obligations
CapitalLeaseObligations
500000 usd
CY2021Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
CY2023Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
6041
CY2023Q1 us-gaap Capital Lease Obligations
CapitalLeaseObligations
600000 usd
CY2024Q2 adn Rental Expense
RentalExpense
4200000 usd
CY2023Q2 adn Rental Expense
RentalExpense
400000 usd
CY2021Q1 us-gaap Capital Lease Obligations
CapitalLeaseObligations
500000 usd
CY2021Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
CY2023Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
6041
CY2023Q1 us-gaap Capital Lease Obligations
CapitalLeaseObligations
600000 usd
CY2021Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
21401
CY2021Q1 us-gaap Capital Lease Obligations
CapitalLeaseObligations
1500000 usd
CY2021Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P8Y6M
CY2021Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2021Q1 us-gaap Security Deposit
SecurityDeposit
800000 usd
CY2024Q2 adn Rental Expense
RentalExpense
4200000 usd
CY2023Q2 adn Rental Expense
RentalExpense
400000 usd
CY2024Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000 usd
adn Rental Expense
RentalExpense
4700000 usd
adn Rental Expense
RentalExpense
1000000.0 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
10000.00 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
341000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3216000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
90000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
145000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
109000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
353000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
21000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
332000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
162000 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
170000 usd
CY2024Q2 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
700000 usd
CY2023Q4 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
700000 usd
CY2024Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000 usd
adn Rental Expense
RentalExpense
4700000 usd
adn Rental Expense
RentalExpense
1000000.0 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
10000.00 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
341000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3216000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
90000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
145000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
109000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
353000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
21000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
332000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
162000 usd
CY2024Q2 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
700000 usd
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
900000 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
900000 usd
CY2024Q2 adn Number Of Shares Authorized
NumberOfSharesAuthorized
501000000 shares
CY2024Q2 adn Common Stock Shares Designated
CommonStockSharesDesignated
500000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2580159 shares
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
900000 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
900000 usd
CY2024Q2 adn Number Of Shares Authorized
NumberOfSharesAuthorized
501000000 shares
CY2024Q2 adn Common Stock Shares Designated
CommonStockSharesDesignated
500000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2636508 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2580159 shares
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
805000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1112000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4256000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2089000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
805000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4256000 usd
CY2024Q2 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
11000 usd
CY2023Q4 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
21000 usd
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2200000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2000000.0 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
100000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
805000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1112000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4256000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2089000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
805000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1112000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4256000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2089000 usd
CY2024Q2 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
11000 usd
CY2023Q4 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
21000 usd
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2200000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
100000 usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-55000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
800000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 integer
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-0 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
800000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 integer
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
805000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1112000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4256000 usd
CY2024Q2 adn Accrued Interest Expense
AccruedInterestExpense
300000 usd
CY2024Q2 us-gaap Loss Contingency Accrual Product Liability Net
LossContingencyAccrualProductLiabilityNet
5200000 usd
CY2024Q2 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0 usd
CY2023Q4 adn Contractual Obligation Minimum Quantity
ContractualObligationMinimumQuantity
21000
CY2024Q2 adn Contractual Obligation Minimum Quantity Pieces
ContractualObligationMinimumQuantityPieces
318400 integer
CY2023Q2 adn Contractual Obligation Minimum Quantity Pieces
ContractualObligationMinimumQuantityPieces
75400 integer
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
805000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1112000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4256000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2089000 usd
CY2024Q2 adn Accrued Interest Expense
AccruedInterestExpense
300000 usd
CY2024Q2 us-gaap Loss Contingency Accrual Product Liability Net
LossContingencyAccrualProductLiabilityNet
5200000 usd
CY2024Q2 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0 usd
CY2023Q4 adn Contractual Obligation Minimum Quantity
ContractualObligationMinimumQuantity
21000
CY2024Q2 adn Contractual Obligation Minimum Quantity Pieces
ContractualObligationMinimumQuantityPieces
318400 integer
CY2023Q2 adn Contractual Obligation Minimum Quantity Pieces
ContractualObligationMinimumQuantityPieces
75400 integer
CY2024Q2 adn Contractual Obligation Quantity Pieces Year One
ContractualObligationQuantityPiecesYearOne
57600 integer
CY2024Q2 adn Contractual Obligation Quantity Year One
ContractualObligationQuantityYearOne
6174
CY2024Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
2304000 usd
CY2024Q2 adn Contractual Obligation Quantity Year Two
ContractualObligationQuantityYearTwo
8000
CY2024Q2 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
2150000 usd
CY2024Q2 adn Contractual Obligation Quantity Pieces
ContractualObligationQuantityPieces
57600 integer
CY2024Q2 adn Contractual Obligation Quantity
ContractualObligationQuantity
14174
CY2024Q2 us-gaap Contractual Obligation
ContractualObligation
4454000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-11273000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-21831000 usd
CY2024Q2 adn Contractual Obligation Quantity Pieces Year One
ContractualObligationQuantityPiecesYearOne
57600 integer
CY2024Q2 adn Contractual Obligation Quantity Year One
ContractualObligationQuantityYearOne
6174
CY2024Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
2304000 usd
CY2024Q2 adn Contractual Obligation Quantity Year Two
ContractualObligationQuantityYearTwo
8000
CY2024Q2 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
2150000 usd
CY2024Q2 adn Contractual Obligation Quantity Pieces
ContractualObligationQuantityPieces
57600 integer
CY2024Q2 adn Contractual Obligation Quantity
ContractualObligationQuantity
14174
CY2024Q2 us-gaap Contractual Obligation
ContractualObligation
4454000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-11273000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-21831000 usd
us-gaap Net Income Loss
NetIncomeLoss
-20629000 usd
us-gaap Net Income Loss
NetIncomeLoss
-33819000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2634179 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1780574 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2609549 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1757137 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2634179 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1780574 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1757137 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.28
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-12.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.91
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-19.25
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.28
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-12.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.91
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-19.25
CY2023Q4 adn Cash And Cash Equivalents
CashAndCashEquivalents
3562000 usd
CY2023Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
100000 usd
CY2023Q4 adn Account Receivable Net
AccountReceivableNet
191000 usd
us-gaap Net Income Loss
NetIncomeLoss
-20629000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2634179 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1780574 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2609549 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1757137 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2634179 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1780574 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2609549 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1757137 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.28
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-12.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.91
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-19.25
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.28
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-12.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.91
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-19.25
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Inventories
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IntangiblesNet
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PropertyAndEquipmentNet
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RightofuseAssets
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RestrictedCashNoncurrents
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OtherNoncurrentAssets
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TotalNoncurrentAssets
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TotalAssets
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TradeAndOtherPayables
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DeferredIncomeFromGrantsCurrent
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ContractLiabilities
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WarrantLiability
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DeferredIncomeFromGrantsNoncurrent
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AccumulatedDeficit
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TotalStockholdersEquity
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Inventories
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Inventories
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IntangiblesNet
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PropertyAndEquipmentNet
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RightofuseAssets
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TotalAssets
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TradeAndOtherPayables
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DeferredIncomeFromGrantsCurrent
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ContractLiabilities
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OperatingLeaseLiabilities
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IncomeTaxPayable
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TotalCurrentLiabilities
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WarrantLiability
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LongtermOperatingLeaseLiabilities
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DefinedBenefitObligation
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DeferredIncomeFromGrantsNoncurrent
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OtherLongtermLiabilities
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CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
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AccumulatedDeficit
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CashAndCashEquivalents
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AccountReceivableNet
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ContractAssets
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Inventories
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IntangiblesNet
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PropertyAndEquipmentNet
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CY2024Q2 adn Rightofuse Assets
RightofuseAssets
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CY2024Q2 adn Other Noncurrent Assets
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OperatingLeaseLiabilities
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IncomeTaxPayable
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BondsAndOtherLongtermDebt
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DefinedBenefitObligation
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IntangiblesNet
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CY2024Q2 adn Trade And Other Payables
TradeAndOtherPayables
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CY2024Q2 adn Bonds And Other Longterm Debt
BondsAndOtherLongtermDebt
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CY2024Q2 adn Longterm Operating Lease Liabilities
LongtermOperatingLeaseLiabilities
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DefinedBenefitObligation
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TotalNoncurrentLiabilities
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CY2024Q2 adn Total Liabilities
TotalLiabilities
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CY2024Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
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CY2024Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2024Q2 adn Accumulated Deficit
AccumulatedDeficit
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TotalStockholdersEquity
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CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
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CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
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CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
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CY2024Q2 adn Other Longterm Liabilities
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CY2024Q2 us-gaap Additional Paid In Capital
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CY2024Q2 ecd Rule10b51 Arr Adopted Flag
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Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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