2024 Q2 Form 10-Q Financial Statement

#000189928724000048 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $3.345M $2.336M $679.0K
YoY Change 104.96% 244.04% -67.82%
Cost Of Revenue $9.876M $6.781M $4.104M
YoY Change 111.75% 65.23% 30.33%
Gross Profit -$6.531M -$4.445M -$3.425M
YoY Change 115.4% 29.78% 229.64%
Gross Profit Margin -195.25% -190.28% -504.42%
Selling, General & Admin $4.739M $4.293M $5.526M
YoY Change -24.53% -22.31% 267.91%
% of Gross Profit
Research & Development $1.662M $1.581M $800.0K
YoY Change 115.28% 97.63% 116.8%
% of Gross Profit
Depreciation & Amortization $1.100M $1.017M $400.0K
YoY Change 120.0% 154.25% 19.76%
% of Gross Profit
Operating Expenses $6.401M $5.874M $6.326M
YoY Change -9.22% -7.15% 238.11%
Operating Profit -$12.93M -$10.32M -$9.751M
YoY Change 28.26% 5.83% 8423.3%
Interest Expense $650.0K
YoY Change
% of Operating Profit
Other Income/Expense, Net $415.0K $433.0K $649.0K
YoY Change -34.65% -33.28% -558.88%
Pretax Income -$9.102M
YoY Change 216.26%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$12.50M -$9.900M -$9.100M
YoY Change 32.98% 8.79% 3456.98%
Net Earnings / Revenue -373.69% -423.8% -1340.21%
Basic Earnings Per Share -$0.13 -$0.11 -$0.11
Diluted Earnings Per Share -$0.13 -$0.11 -$0.11
COMMON SHARES
Basic Shares Outstanding 94.47M shares 91.60M shares 84.63M shares
Diluted Shares Outstanding 97.05M shares 90.03M shares 84.65M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $64.19M
YoY Change 644.97%
Cash & Equivalents $46.40M $39.00M $64.20M
Short-Term Investments
Other Short-Term Assets $4.316M
YoY Change 235.35%
Inventory $1.527M $858.0K $845.0K
Prepaid Expenses
Receivables $1.700M $1.400M $600.0K
Other Receivables $0.00
Total Short-Term Assets $53.04M $45.62M $69.90M
YoY Change -24.97% -34.73% 2229.34%
LONG-TERM ASSETS
Property, Plant & Equipment $23.95M $22.94M $4.948M
YoY Change 246.94% 363.58% -27.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.476M $1.466M $684.0K
YoY Change 110.26% 114.33% 668.54%
Total Long-Term Assets $59.72M $59.06M $14.05M
YoY Change 274.7% 320.53% -93.89%
TOTAL ASSETS
Total Short-Term Assets $53.04M $45.62M $69.90M
Total Long-Term Assets $59.72M $59.06M $14.05M
Total Assets $112.8M $104.7M $83.95M
YoY Change 30.15% 24.7% -63.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.490M $1.992M $1.023M
YoY Change 652.09% 94.72% 1338.05%
Accrued Expenses $3.269M $3.431M $3.665M
YoY Change -54.22% -6.38% 2358.03%
Deferred Revenue $3.151M $3.243M $3.135M
YoY Change -1.47% 3.44%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $12.83M $9.762M $8.884M
YoY Change 6.83% 9.88% 3933.76%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $8.029M
YoY Change 161.7%
Total Long-Term Liabilities $8.029M
YoY Change 161.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.83M $9.762M $8.884M
Total Long-Term Liabilities $8.029M
Total Liabilities $47.63M $44.75M $16.91M
YoY Change 138.78% 164.6% -29.73%
SHAREHOLDERS EQUITY
Retained Earnings -$152.1M -$139.5M -$102.0M
YoY Change 36.54% 36.76% 384.84%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $65.13M $59.94M $67.04M
YoY Change
Total Liabilities & Shareholders Equity $112.8M $104.7M $83.95M
YoY Change 30.15% 24.7% -63.98%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$12.50M -$9.900M -$9.100M
YoY Change 32.98% 8.79% 3456.98%
Depreciation, Depletion And Amortization $1.100M $1.017M $400.0K
YoY Change 120.0% 154.25% 19.76%
Cash From Operating Activities -$9.779M -$6.492M
YoY Change 50.63% 1470.09%
INVESTING ACTIVITIES
Capital Expenditures $3.896M $1.140M
YoY Change 241.75% -3452.94%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.896M -$1.140M
YoY Change 241.75% -99.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $8.159M $2.123M
YoY Change 284.31% -99.09%
NET CHANGE
Cash From Operating Activities -$9.779M -$6.492M
Cash From Investing Activities -$3.896M -$1.140M
Cash From Financing Activities $8.159M $2.123M
Net Change In Cash -$5.516M -$5.509M
YoY Change 0.13% -314.04%
FREE CASH FLOW
Cash From Operating Activities -$9.779M -$6.492M
Capital Expenditures $3.896M $1.140M
Free Cash Flow -$13.68M -$7.632M
YoY Change 79.18% 1911.17%

Facts In Submission

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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%">Reclassification</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%">Certain accounts in the prior period condensed consolidated statements of operations were reclassified to conform with the current period presentation. The reclassification had no impact on our prior period consolidated balance sheet, net loss and cash flows.</span></div>
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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 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><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%">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; incremental borrowing rate used in calculating lease obligations and right-of-use assets; and certain inputs used to measure fair value of stock option grants using the Black-Scholes option-pricing model.</span></div>
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EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
4800000 usd
CY2024Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
47720736 shares
CY2022Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
1 shares
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2024Q1 ampx Sale Of Stock Deferred Stock Issuance Cost
SaleOfStockDeferredStockIssuanceCost
200000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1247000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
726000 usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q4 ampx Lessee Finance Lease Number Of Leases
LesseeFinanceLeaseNumberOfLeases
0 lease
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1286000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
202000 usd
CY2024Q1 us-gaap Variable Lease Cost
VariableLeaseCost
111000 usd
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
53000 usd
CY2024Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
22000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
19000 usd
CY2024Q1 us-gaap Lease Cost
LeaseCost
1419000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
274000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
278000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
179000 usd
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5241000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P14Y2M12D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y3M18D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.094
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.079
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
849000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1794000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4377000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5025000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5185000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
5344000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
48440000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
71014000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
34928000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
36086000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9886000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-9886000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9102000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-9102000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
90029320 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
90029320 shares
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
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
64405731 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
61986915 shares
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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