2024 Q2 Form 10-Q Financial Statement

#000132619024000019 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $5.000K $5.000K $21.00K
YoY Change -16.67% -76.19% -34.38%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.595M $5.312M $4.531M
YoY Change 17.54% 17.24% 2.35%
% of Gross Profit
Research & Development $21.16M $21.49M $17.25M
YoY Change 59.62% 24.57% 14.2%
% of Gross Profit
Depreciation & Amortization $61.00K $107.0K -$356.0K
YoY Change -130.06% -399.16%
% of Gross Profit
Operating Expenses $26.75M $26.80M $21.78M
YoY Change 48.5% 23.04% 11.52%
Operating Profit -$26.75M -$26.79M -$21.76M
YoY Change 48.53% 23.14% 11.59%
Interest Expense $2.181M $1.000K $2.000K
YoY Change 108950.0% -50.0% -96.77%
% of Operating Profit
Other Income/Expense, Net $2.105M $2.400M $1.685M
YoY Change 8.17% 42.43% 2342.03%
Pretax Income -$24.64M -$24.39M -$20.07M
YoY Change 53.42% 21.52% 3.31%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$24.64M -$24.39M -$20.07M
YoY Change 53.42% 21.52% 3.31%
Net Earnings / Revenue -492800.0% -487880.0% -95590.48%
Basic Earnings Per Share -$0.35 -$0.34 -$0.40
Diluted Earnings Per Share -$0.35 -$0.34 -$0.39
COMMON SHARES
Basic Shares Outstanding 70.90M 70.90M 49.28M
Diluted Shares Outstanding 70.92M 70.80M 50.13M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $164.9M $182.0M $165.7M
YoY Change 3.1% 9.83% -7.9%
Cash & Equivalents $57.13M $78.98M $104.7M
Short-Term Investments $107.8M $103.0M $61.04M
Other Short-Term Assets $3.266M $2.912M $4.012M
YoY Change -44.29% -27.42% -20.91%
Inventory
Prepaid Expenses
Receivables $424.0K $307.0K $252.0K
Other Receivables $2.588M $2.272M $3.118M
Total Short-Term Assets $171.2M $187.5M $173.1M
YoY Change 0.98% 8.32% -9.41%
LONG-TERM ASSETS
Property, Plant & Equipment $483.0K $544.0K $1.007M
YoY Change -45.24% -45.98% -24.68%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.677M $299.0K $546.0K
YoY Change 247.2% -45.24% -32.68%
Total Long-Term Assets $2.160M $843.0K $13.97M
YoY Change -84.33% -93.97% -4.08%
TOTAL ASSETS
Total Short-Term Assets $171.2M $187.5M $173.1M
Total Long-Term Assets $2.160M $843.0K $13.97M
Total Assets $173.3M $188.4M $187.1M
YoY Change -5.44% 0.68% -9.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.688M $3.760M $5.238M
YoY Change -33.38% -28.22% 137.55%
Accrued Expenses $12.47M $7.573M $9.713M
YoY Change 69.71% -22.03% -22.97%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.16M $11.33M $14.95M
YoY Change 32.51% -24.2% -21.82%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $4.400M
YoY Change -100.0% -100.0% 163.79%
Other Long-Term Liabilities $31.00K $37.00K $56.00K
YoY Change -40.38% -33.93% -86.07%
Total Long-Term Liabilities $5.660M $4.088M $4.456M
YoY Change 34.22% -8.26% 115.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.16M $11.33M $14.95M
Total Long-Term Liabilities $5.660M $4.088M $4.456M
Total Liabilities $20.82M $15.42M $19.35M
YoY Change 33.41% -20.31% -6.93%
SHAREHOLDERS EQUITY
Retained Earnings -$515.4M -$490.7M -$398.0M
YoY Change 24.48% 23.31% 27.31%
Common Stock $7.000K $7.000K $5.000K
YoY Change 40.0% 40.0% 25.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $152.5M $172.9M $167.7M
YoY Change
Total Liabilities & Shareholders Equity $173.3M $188.4M $187.1M
YoY Change -5.44% 0.68% -9.03%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$24.64M -$24.39M -$20.07M
YoY Change 53.42% 21.52% 3.31%
Depreciation, Depletion And Amortization $61.00K $107.0K -$356.0K
YoY Change -130.06% -399.16%
Cash From Operating Activities -$18.11M -$16.36M -$19.41M
YoY Change -6.58% -15.72% 43.48%
INVESTING ACTIVITIES
Capital Expenditures $51.00K
YoY Change 466.67%
Acquisitions
YoY Change
Other Investing Activities -$3.696M -$39.52M $13.35M
YoY Change -192.79% -395.97%
Cash From Investing Activities -$3.696M -$39.52M $13.30M
YoY Change -192.7% -397.11% -147900.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -46.00K -261.0K -302.0K
YoY Change -100.35% -13.58% -109.49%
NET CHANGE
Cash From Operating Activities -18.11M -16.36M -19.41M
Cash From Investing Activities -3.696M -39.52M 13.30M
Cash From Financing Activities -46.00K -261.0K -302.0K
Net Change In Cash -21.85M -56.14M -6.407M
YoY Change 837.37% 776.21% -38.12%
FREE CASH FLOW
Cash From Operating Activities -$18.11M -$16.36M -$19.41M
Capital Expenditures $51.00K
Free Cash Flow -$19.46M
YoY Change 43.76%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
135158000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
111131000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
79019000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
104724000
CY2023Q1 alt Deferred Offering Costs In Accrued Expenses And Other Current Liabilities
DeferredOfferingCostsInAccruedExpensesAndOtherCurrentLiabilities
182000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant estimates and assumptions made in the accompanying condensed consolidated financial statements include, but are not limited to, the valuation of share-based awards, income taxes, and accruals for research and development activities. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable. However, actual results could differ from those estimates.</p>
CY2024Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
103167000
CY2024Q1 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
-121000
CY2024Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
103046000
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
62662000
CY2023Q4 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
36000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
62698000
CY2024Q1 us-gaap Interest Receivable Current
InterestReceivableCurrent
200000
CY2023Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
100000
CY2024Q1 alt Assets Or Liabilities Measured At Fair Value On Non Recurring Basis
AssetsOrLiabilitiesMeasuredAtFairValueOnNonRecurringBasis
0
CY2023Q4 alt Assets Or Liabilities Measured At Fair Value On Non Recurring Basis
AssetsOrLiabilitiesMeasuredAtFairValueOnNonRecurringBasis
0
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
100000
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
100000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
552000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
671000
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
300000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
363000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y1M6D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y3M18D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.072
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.072
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
305000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
293000
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1038000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3315000
CY2024Q1 alt Accrued Research And Development
AccruedResearchAndDevelopment
5656000
CY2023Q4 alt Accrued Research And Development
AccruedResearchAndDevelopment
5845000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
508000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
496000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
66000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
124000
CY2024Q1 alt Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
7573000
CY2023Q4 alt Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
10073000
CY2024Q1 alt Research And Development Incentive Credit
ResearchAndDevelopmentIncentiveCredit
3847000
CY2023Q4 alt Research And Development Incentive Credit
ResearchAndDevelopmentIncentiveCredit
4023000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
44000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
175000
CY2024Q1 alt Economic Conditional Incentive Grants
EconomicConditionalIncentiveGrants
160000
CY2023Q4 alt Economic Conditional Incentive Grants
EconomicConditionalIncentiveGrants
160000
CY2024Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
37000
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
40000
CY2024Q1 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
4088000
CY2023Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
4398000
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
70899134
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5043593
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.33
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y10M24D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
16919000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1566575
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
9.32
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1250
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.05
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
68211
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
7.06
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6540707
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.35
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
15079000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2943720
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.18
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y10M24D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
9115000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
6216978
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
9.34
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
14542000
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3650000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2675000
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 alt Non Rule10b51 Arr Modified Flag
NonRule10b51ArrModifiedFlag
false
CY2024Q1 alt Rule10b51 Arr Modified Flag
Rule10b51ArrModifiedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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0001326190-24-000019-index.html Edgar Link pending
0001326190-24-000019.txt Edgar Link pending
0001326190-24-000019-xbrl.zip Edgar Link pending
alt-20240331.xsd Edgar Link pending
alt-20240331x10q.htm Edgar Link pending
alt-20240331x10q002.jpg Edgar Link pending
alt-20240331xex31d1.htm Edgar Link pending
alt-20240331xex31d2.htm Edgar Link pending
alt-20240331xex32d1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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alt-20240331_def.xml Edgar Link unprocessable
alt-20240331_lab.xml Edgar Link unprocessable
alt-20240331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
R5.htm Edgar Link pending
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report.css Edgar Link pending
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alt-20240331_cal.xml Edgar Link unprocessable