2022 Q4 Form 10-Q Financial Statement

#000189928722000007 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q4
Revenue $792.0K $816.0K $2.772M
YoY Change -71.43% 147.27%
Cost Of Revenue $2.400M $2.284M $7.101M
YoY Change -66.2% 15.01%
Gross Profit -$1.608M -$1.468M -$4.329M
YoY Change -62.86% -11.35%
Gross Profit Margin -203.03% -179.9% -156.17%
Selling, General & Admin $4.349M $2.367M $4.844M
YoY Change -10.22% 105.11%
% of Gross Profit
Research & Development $690.0K $488.0K $1.450M
YoY Change -52.41% 49.24%
% of Gross Profit
Depreciation & Amortization $423.0K $386.0K $814.0K
YoY Change -48.03% -12.47%
% of Gross Profit
Operating Expenses $5.039M $2.855M $6.294M
YoY Change -19.94% 92.78%
Operating Profit -$6.647M -$4.323M -$10.62M
YoY Change -37.43% 37.81%
Interest Expense $591.0K $79.00K $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $79.00K -$16.00K
YoY Change -2075.0%
Pretax Income -$6.056M -$4.244M -$9.896M
YoY Change -38.8% 35.16%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$6.056M -$4.244M -$9.896M
YoY Change -38.8% 35.12%
Net Earnings / Revenue -764.65% -520.1% -357.0%
Basic Earnings Per Share -$0.06
Diluted Earnings Per Share -$0.07 -$0.06 -$117.6K
COMMON SHARES
Basic Shares Outstanding 84.47M shares 69.01M shares
Diluted Shares Outstanding 69.01M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.70M $73.80M
YoY Change
Cash & Equivalents $69.70M $73.80M $77.15K
Short-Term Investments
Other Short-Term Assets $4.291M $2.731M
YoY Change
Inventory $500.0K $503.0K $500.0K
Prepaid Expenses
Receivables $686.0K $782.0K $262.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $75.17M $77.82M $77.15K
YoY Change 97336.2%
LONG-TERM ASSETS
Property, Plant & Equipment $4.236M $3.824M $4.210M
YoY Change 0.62%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $644.0K $604.0K $0.00
YoY Change
Total Long-Term Assets $7.998M $8.683M $307.2K
YoY Change 2503.15%
TOTAL ASSETS
Total Short-Term Assets $75.17M $77.82M $77.15K
Total Long-Term Assets $7.998M $8.683M $307.2K
Total Assets $83.17M $86.50M $384.4K
YoY Change 21536.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.028M $2.641M $63.63K
YoY Change 1515.64%
Accrued Expenses $2.708M $2.183M $155.1K
YoY Change 1646.23%
Deferred Revenue $2.660M $795.0K $2.363M
YoY Change 12.57%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.917M $6.136M $418.7K
YoY Change 1552.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.221M $4.364M
YoY Change
Total Long-Term Liabilities $3.221M $4.364M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.917M $6.136M $418.7K
Total Long-Term Liabilities $3.221M $4.364M
Total Liabilities $10.14M $10.50M $418.7K
YoY Change 2321.28%
SHAREHOLDERS EQUITY
Retained Earnings -$92.90M -$86.83M -$59.31K
YoY Change 156531.99%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $73.03M $76.00M -$34.31K
YoY Change
Total Liabilities & Shareholders Equity $83.17M $86.50M $384.4K
YoY Change 21536.91%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q4
OPERATING ACTIVITIES
Net Income -$6.056M -$4.244M -$9.896M
YoY Change -38.8% 35.12%
Depreciation, Depletion And Amortization $423.0K $386.0K $814.0K
YoY Change -48.03% -12.47%
Cash From Operating Activities -$5.698M -$2.692M -$3.328M
YoY Change 71.21% 66.17%
INVESTING ACTIVITIES
Capital Expenditures $734.0K $553.0K -$351.0K
YoY Change -309.12% 2665.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$734.0K -$553.0K -$351.0K
YoY Change 109.12% 2665.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.048M 71.81M 15.12M
YoY Change -86.45% 388.8%
NET CHANGE
Cash From Operating Activities -5.698M -2.692M -3.328M
Cash From Investing Activities -734.0K -553.0K -351.0K
Cash From Financing Activities 2.048M 71.81M 15.12M
Net Change In Cash -4.384M 68.56M 11.44M
YoY Change -138.33% 425.36%
FREE CASH FLOW
Cash From Operating Activities -$5.698M -$2.692M -$3.328M
Capital Expenditures $734.0K $553.0K -$351.0K
Free Cash Flow -$6.432M -$3.245M -$2.977M
YoY Change 116.06% 97.87%

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<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt;text-indent:25.2pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed 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 disclosures of contingent assets and liabilities at the date of the condensed financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances; the results of which form the basis for making judgements that are not readily apparent from other sources. Actual results could materially differ from management estimates using different assumptions or under different conditions. </span></div>Significant accounting estimates made by the Company include useful lives of property and equipment, valuation of deferred taxes, valuation of inventory, carve-out of condensed financial statements including the allocation of assets, liabilities and expenses, incremental borrowing rate used in calculating lease obligations and right-of-use asset, and fair value of common stock used to determine stock-based compensation expense prior to the merger with Kensington, and other inputs used to value stock-based compensation awards.
CY2022Q3 us-gaap Restricted Cash
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us-gaap Concentration Risk Credit Risk
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<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="margin-top:10pt;text-indent:25.2pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to concentration of credit risk consist of cash and accounts receivable. </span></div><div><span><br/></span></div><div style="text-indent:25.2pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash is deposited with a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250. As of September 30, 2022 and December 31, 2021, the Company has not experienced losses on this account and management believes the Company is not exposed to significant risks of loss.</span></div>Accounts receivable mainly consist of amounts due from U.S. government agencies or sponsored entities and large public entities which limits the Company’s credit risk. Through September 30, 2022, the Company has not experienced any credit losses.
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CY2022Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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CY2022Q3 us-gaap Revenue Remaining Performance Obligation
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CY2021Q4 us-gaap Contract With Customer Liability
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CY2020Q4 us-gaap Contract With Customer Liability
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RevenueFromContractWithCustomerLiabilityUnconditionalRightsToInvoiceNotYetRecognized
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CY2021 ampx Revenue From Contract With Customer Liability Unconditional Rights To Invoice Not Yet Recognized
RevenueFromContractWithCustomerLiabilityUnconditionalRightsToInvoiceNotYetRecognized
1770000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1663000 usd
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2022Q3 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
286000 usd
us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
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us-gaap Amortization Of Deferred Charges
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CY2021Q3 us-gaap Amortization Of Deferred Charges
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CY2022Q3 us-gaap Deferred Costs Current And Noncurrent
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CY2021Q4 us-gaap Deferred Costs Current And Noncurrent
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1910000 usd
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InventoryRawMaterialsNetOfReserves
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InventoryRawMaterialsNetOfReserves
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CY2022Q3 us-gaap Inventory Finished Goods Net Of Reserves
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CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
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255000 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
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CY2021Q4 us-gaap Property Plant And Equipment Gross
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10009000 usd
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6845000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2022Q3 us-gaap Property Plant And Equipment Net
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CY2022Q3 us-gaap Depreciation Depletion And Amortization
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CY2021Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
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CY2022Q3 ampx Shares Authorized
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CY2022Q3 us-gaap Preferred Stock Shares Authorized
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AllocatedShareBasedCompensationExpense
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AllocatedShareBasedCompensationExpense
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CY2022Q3 us-gaap Stock Issued During Period Shares New Issues
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CY2022Q3 us-gaap Income Tax Expense Benefit
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CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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65762000 shares
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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ampx Lessee Operating Lease Facility Sharing Arrangement Average Monthly Fee
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43000 usd
ampx Lessee Operating Lease Facility Sharing Arrangement Average Monthly Fee
LesseeOperatingLeaseFacilitySharingArrangementAverageMonthlyFee
42000 usd
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CY2022Q3 ampx Lessee Finance Lease Number Of Leases
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CY2022Q3 us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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CY2022Q3 us-gaap Operating Lease Payments
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us-gaap Operating Lease Payments
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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LesseeOperatingLeaseLiabilityPaymentsDueYearFour
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LesseeOperatingLeaseLiabilityPaymentsDueYearFive
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
966000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
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CY2022Q3 us-gaap Operating Lease Liability
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CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y9M18D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.079

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