2023 Q2 Form 10-Q Financial Statement

#000189928723000076 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $1.632M $679.0K $2.110M
YoY Change 136.18% -67.82% 1375.52%
Cost Of Revenue $4.664M $4.104M $3.149M
YoY Change 124.12% 30.33% 177.2%
Gross Profit -$3.032M -$3.425M -$1.039M
YoY Change 118.13% 229.64% 4.63%
Gross Profit Margin -185.78% -504.42% -49.24%
Selling, General & Admin $6.279M $5.526M $1.502M
YoY Change 170.65% 267.91% 188.29%
% of Gross Profit
Research & Development $772.0K $800.0K $369.0K
YoY Change 71.18% 116.8% 6.65%
% of Gross Profit
Depreciation & Amortization $500.0K $400.0K $334.0K
YoY Change 28.21% 19.76% 5.7%
% of Gross Profit
Operating Expenses $7.051M $6.326M $1.871M
YoY Change 154.46% 238.11% 115.8%
Operating Profit -$10.08M -$9.751M -$114.4K
YoY Change 503.14% 8423.3% 343.05%
Interest Expense $640.0K $650.0K $0.00
YoY Change 9042.86% -100.0%
% of Operating Profit
Other Income/Expense, Net $635.0K $649.0K -$141.4K
YoY Change -86.05% -558.88% 1920.44%
Pretax Income -$9.450M -$9.102M -$2.878M
YoY Change 127.49% 216.26% 53.99%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$9.400M -$9.100M -$255.8K
YoY Change -426.28% 3456.98% 890.76%
Net Earnings / Revenue -575.98% -1340.21% -12.12%
Basic Earnings Per Share -$0.11 -$0.11 -$0.04
Diluted Earnings Per Share -$0.11 -$0.11 -$34.19K
COMMON SHARES
Basic Shares Outstanding 84.97M shares 84.63M shares 65.77M shares
Diluted Shares Outstanding 85.22M shares 84.65M shares 65.77M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.01M $64.19M $8.616M
YoY Change 1139.94% 644.97%
Cash & Equivalents $65.00M $64.20M $2.651M
Short-Term Investments
Other Short-Term Assets $4.060M $4.316M $1.287M
YoY Change 139.25% 235.35%
Inventory $503.0K $845.0K $339.0K
Prepaid Expenses $350.0K
Receivables $1.100M $600.0K $471.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $70.70M $69.90M $3.001M
YoY Change 3128.65% 2229.34%
LONG-TERM ASSETS
Property, Plant & Equipment $6.903M $4.948M $6.866M
YoY Change 5.24% -27.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $702.0K $684.0K $89.00K
YoY Change -79.82% 668.54%
Total Long-Term Assets $15.94M $14.05M $230.0M
YoY Change -93.08% -93.89%
TOTAL ASSETS
Total Short-Term Assets $70.70M $69.90M $3.001M
Total Long-Term Assets $15.94M $14.05M $230.0M
Total Assets $86.64M $83.95M $233.0M
YoY Change -62.75% -63.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $597.0K $1.023M $71.14K
YoY Change 1911.93% 1338.05%
Accrued Expenses $7.141M $3.665M $149.1K
YoY Change 518.6% 2358.03%
Deferred Revenue $3.198M $3.135M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $12.01M $8.884M $220.2K
YoY Change 913.98% 3933.76%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.940M $8.029M $3.068M
YoY Change 159.82% 161.7%
Total Long-Term Liabilities $7.940M $8.029M $3.068M
YoY Change 159.82% 161.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.01M $8.884M $220.2K
Total Long-Term Liabilities $7.940M $8.029M $3.068M
Total Liabilities $19.95M $16.91M $24.07M
YoY Change -3.84% -29.73%
SHAREHOLDERS EQUITY
Retained Earnings -$111.4M -$102.0M -$21.04M
YoY Change 507.19% 384.84%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $66.69M $67.04M -$21.04M
YoY Change
Total Liabilities & Shareholders Equity $86.64M $83.95M $233.0M
YoY Change -62.75% -63.98%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$9.400M -$9.100M -$255.8K
YoY Change -426.28% 3456.98% 890.76%
Depreciation, Depletion And Amortization $500.0K $400.0K $334.0K
YoY Change 28.21% 19.76% 5.7%
Cash From Operating Activities -$5.590M -$6.492M -$413.5K
YoY Change 128.26% 1470.09% -87.63%
INVESTING ACTIVITIES
Capital Expenditures $1.730M $1.140M -$34.00K
YoY Change -1181.25% -3452.94% -43.33%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.730M -$1.140M -$230.0M
YoY Change 981.25% -99.5% 383233.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.140M $2.123M 233.0M
YoY Change -1988.63% -99.09% 6726.47%
NET CHANGE
Cash From Operating Activities -5.590M -$6.492M -413.5K
Cash From Investing Activities -1.730M -$1.140M -230.0M
Cash From Financing Activities 8.140M $2.123M 233.0M
Net Change In Cash 820.0K -$5.509M 2.574M
YoY Change -126.97% -314.04% 25638.25%
FREE CASH FLOW
Cash From Operating Activities -$5.590M -$6.492M -$413.5K
Capital Expenditures $1.730M $1.140M -$34.00K
Free Cash Flow -$7.320M -$7.632M -$379.5K
YoY Change 219.79% 1911.17% -88.44%

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CY2022Q1 ampx Payment Of Transaction And Issuance Costs In Connection With Business Combination And Pipe Investment
PaymentOfTransactionAndIssuanceCostsInConnectionWithBusinessCombinationAndPIPEInvestment
51000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2123000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
204000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5509000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2873000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69752000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11489000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
64243000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8616000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
64187000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8616000 usd
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
56000 usd
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
0 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
64243000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8616000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-9100000 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-102000000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
64200000 usd
CY2023Q1 ampx Committed Equity Financing
CommittedEquityFinancing
197600000 usd
CY2022Q4 ampx Government Assistance Grant Not Yet Received
GovernmentAssistanceGrantNotYetReceived
50000000 usd
CY2022Q3 ampx Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
1.45590
CY2023Q1 ampx Number Of Executive Employees Of Parent Sharing Facilities Costs
NumberOfExecutiveEmployeesOfParentSharingFacilitiesCosts
2 executiveemployee
CY2023Q1 ampx Number Of Executive Employees Of Parent Sharing Facilities Costs
NumberOfExecutiveEmployeesOfParentSharingFacilitiesCosts
2 executiveemployee
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4000000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3400000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<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 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 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>Our significant accounting estimates include useful lives of property, plant and equipment; valuation of deferred taxes; lower of cost or net realizable adjustment of inventory; carve-out of financial statements including the allocation of assets, liabilities and expenses prior to the Business Combination; incremental borrowing rate used in calculating lease obligations and right-of-use assets; and fair value of common stock prior to the Business Combination and other inputs used to value stock-based compensation awards.
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
56000 usd
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
56000 usd
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
Concentration of Credit RiskAccounts receivable mainly consist of amounts due from U.S. government agencies or sponsored entities and large public entities which limits our credit risk. Through March 31, 2023, we have not experienced any credit losses.
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2900000 usd
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
120000 usd
CY2023Q1 us-gaap Revenues
Revenues
679000 usd
CY2022Q1 us-gaap Revenues
Revenues
2110000 usd
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
600000 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
700000 usd
CY2022Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
300000 usd
CY2022Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0 usd
CY2023Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0 usd
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1400000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
11000000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
7100000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
3900000 usd
CY2023Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
164000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
180000 usd
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
395000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
218000 usd
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
286000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
102000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
845000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
500000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12608000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11480000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7660000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7244000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4948000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4236000 usd
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
400000 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
400000 usd
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2406000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
481000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1105000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1840000 usd
CY2023Q1 ampx Accrued Offering Costs Current
AccruedOfferingCostsCurrent
31000 usd
CY2022Q4 ampx Accrued Offering Costs Current
AccruedOfferingCostsCurrent
194000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
123000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
193000 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3665000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2708000 usd
CY2023Q1 ampx Shares Authorized
SharesAuthorized
1000000000 shares
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
950000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
7700000 usd
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
47720836 shares
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
726000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
456000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2023Q1 ampx Lessee Finance Lease Number Of Leases
LesseeFinanceLeaseNumberOfLeases
0 lease
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y3M18D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.079
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5200000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
179000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
202000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
140000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
822000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1126000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1158000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1193000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1241000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1278000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4729000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
11547000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3359000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
8188000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-9102000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9102000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2878000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2878000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84645097 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84645097 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65774528 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65774528 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
61986915 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10351020 shares

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