2022 Q4 Form 10-Q Financial Statement

#000114487922000052 Filed on October 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $12.34M $6.924M $612.0K
YoY Change 1031.37%
Cost Of Revenue $11.81M $6.093M $349.0K
YoY Change 1645.85%
Gross Profit $528.0K $831.0K $263.0K
YoY Change 215.97%
Gross Profit Margin 4.28% 12.0% 42.97%
Selling, General & Admin $26.50M $4.131M $13.04M
YoY Change 86.44% -68.31%
% of Gross Profit 5019.32% 497.11% 4956.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $800.0K $1.136M $175.0K
YoY Change 206.51% 549.14% -234.62%
% of Gross Profit 151.52% 136.7% 66.54%
Operating Expenses $26.50M $4.131M $13.04M
YoY Change 86.44% -68.32%
Operating Profit -$26.68M -$4.177M -$12.78M
YoY Change 87.67% -67.3%
Interest Expense $385.0K $356.0K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net -$385.0K -$450.0K $40.00K
YoY Change -218.46% -1225.0%
Pretax Income -$27.06M -$4.627M -$14.10M
YoY Change 77.67% -67.18% 20038.57%
Income Tax -$312.0K $32.00K $0.00
% Of Pretax Income
Net Earnings -$26.62M -$4.531M -$14.10M
YoY Change 86.55% -67.86% 20038.57%
Net Earnings / Revenue -215.7% -65.44% -2303.43%
Basic Earnings Per Share -$0.29 -$0.05 -$0.31
Diluted Earnings Per Share -$0.29 -$0.05 -$257.4K
COMMON SHARES
Basic Shares Outstanding 94.24M shares 94.24M shares 44.94M shares
Diluted Shares Outstanding 93.42M shares 93.11M shares 44.94M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.07M $40.83M $28.93M
YoY Change 28.69% 41.14%
Cash & Equivalents $10.51M $33.33M $28.93M
Short-Term Investments
Other Short-Term Assets $2.397M $1.500M $601.0K
YoY Change 45.36% 149.58%
Inventory
Prepaid Expenses
Receivables $276.0K $50.00K
Other Receivables $0.00 $0.00
Total Short-Term Assets $20.75M $42.38M $29.53M
YoY Change 32.2% 43.52%
LONG-TERM ASSETS
Property, Plant & Equipment $132.9M $95.10M $6.486M
YoY Change 1070.97% 1366.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.450M $1.450M $14.35M
YoY Change -94.53% -89.9%
Total Long-Term Assets $146.7M $103.5M $20.84M
YoY Change 287.51% 396.93%
TOTAL ASSETS
Total Short-Term Assets $20.75M $42.38M $29.53M
Total Long-Term Assets $146.7M $103.5M $20.84M
Total Assets $167.4M $145.9M $50.37M
YoY Change 212.69% 189.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.472M $13.46M $4.807M
YoY Change 40.37% 179.93%
Accrued Expenses $4.529M $1.371M $168.0K
YoY Change 2283.68% 716.07%
Deferred Revenue $29.39M $17.14M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.122M $2.587M
YoY Change
Total Short-Term Liabilities $70.21M $48.67M $4.982M
YoY Change 973.65% 876.86%
LONG-TERM LIABILITIES
Long-Term Debt $16.38M $12.11M $0.00
YoY Change
Other Long-Term Liabilities $8.631M $7.671M $1.097M
YoY Change 754.55% 599.27%
Total Long-Term Liabilities $25.01M $19.78M $1.097M
YoY Change 2375.94% 1703.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.21M $48.67M $4.982M
Total Long-Term Liabilities $25.01M $19.78M $1.097M
Total Liabilities $95.47M $69.02M $6.079M
YoY Change 1129.85% 1035.37%
SHAREHOLDERS EQUITY
Retained Earnings -$87.22M -$60.60M
YoY Change
Common Stock $94.00K $93.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $62.00K $62.00K
YoY Change
Treasury Stock Shares 36.30K shares 36.30K shares
Shareholders Equity $63.51M $68.31M $44.29M
YoY Change
Total Liabilities & Shareholders Equity $167.4M $145.9M $50.37M
YoY Change 212.69% 189.72%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$26.62M -$4.531M -$14.10M
YoY Change 86.55% -67.86% 20038.57%
Depreciation, Depletion And Amortization $800.0K $1.136M $175.0K
YoY Change 206.51% 549.14% -234.62%
Cash From Operating Activities $10.68M $17.29M -$1.435M
YoY Change 183.5% -1305.16% -204.74%
INVESTING ACTIVITIES
Capital Expenditures -$38.63M $31.67M -$998.0K
YoY Change 314.68% -3273.65% 731.67%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$10.29M
YoY Change -100.0% -100.0% 1507.81%
Cash From Investing Activities -$38.63M -$31.67M -$11.29M
YoY Change 90.07% 180.59% 2070.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $32.60M
YoY Change -8051.22%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.191M $8.910M 29.90M
YoY Change 210.47% -70.2% -8406.11%
NET CHANGE
Cash From Operating Activities 10.68M $17.29M -1.435M
Cash From Investing Activities -38.63M -$31.67M -11.29M
Cash From Financing Activities 5.191M $8.910M 29.90M
Net Change In Cash -22.76M -$5.469M 17.18M
YoY Change 52.89% -131.84% 3405.92%
FREE CASH FLOW
Cash From Operating Activities $10.68M $17.29M -$1.435M
Capital Expenditures -$38.63M $31.67M -$998.0K
Free Cash Flow $49.32M -$14.38M -$437.0K
YoY Change 276.9% 3190.39% -129.33%

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<div style="margin-top:12pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Significant Accounting Policies and Use of Estimates:</span></div><div style="margin-top:12pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">There were no material changes in the Company’s significant accounting policies for the three months ended August 31, 2022 as compared to the year ended May 31, 2022. See Note 3 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year-ended May </span></div><div style="margin-top:12pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">31, 2022, as filed with the SEC, for additional information regarding the Company’s significant accounting policies and use of estimates. </span></div><div style="padding-left:36pt;text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ significantly from those estimates. The most significant accounting estimates inherent in the preparation of the Company’s financial statements include estimates associated with asset valuations, and the valuation allowance associated with the Company’s deferred tax assets.</span></div>
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q3 apld Contract With Customer Liability Revenue Recognized Excluding Opening Balance
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CY2022Q3 apld Contract With Customer Liability Other Adjustments
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CY2022Q3 us-gaap Contract With Customer Liability
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CY2021Q3 us-gaap Contract With Customer Liability
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CY2022Q3 us-gaap Allocated Share Based Compensation Expense
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CY2022Q2 apld Contract With Customer Liability Customer Deposits
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CY2022Q3 us-gaap Proceeds From Deposits From Customers
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CY2022Q3 apld Contract With Customer Liability Customer Deposits Refunded
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CY2022Q3 apld Contract With Customer Liability Customer Deposits
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CY2021Q3 apld Contract With Customer Liability Customer Deposits
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CY2022Q3 us-gaap Common Stock Shares Authorized
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166666667 shares
CY2022Q2 us-gaap Common Stock Shares Authorized
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CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
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CY2022Q3 us-gaap Common Stock Shares Issued
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CY2022Q2 us-gaap Common Stock Shares Issued
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CY2022Q2 us-gaap Common Stock Shares Outstanding
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CY2021Q3 us-gaap Allocated Share Based Compensation Expense
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CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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CY2021Q4 apld Share Based Compensation Arrangement By Share Based Payment Award Number Of Plans
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CY2021Q4 apld Share Based Compensation Arrangement By Share Based Payment Award Number Of Plans
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CY2021Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2022Q3 apld Lessee Finance Lease Leases Entered Into
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CY2022Q3 apld Lease Weighted Average Remaining Lease Term
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CY2022Q3 apld Lessee Weighted Average Discount Rate Percent
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CY2022Q3 apld Lease Liability And Right Of Use Assets Added During Period
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CY2022Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
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CY2022Q3 us-gaap Contractual Obligation
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24200000 usd
CY2022Q3 apld Hosting Arrangement Service Contract Term
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CY2022Q3 apld Hosting Arrangement Service Contract Power Purchased
HostingArrangementServiceContractPowerPurchased
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CY2021Q3 apld Hosting Arrangement Service Contract Power Purchased
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CY2022Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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CY2022Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2021Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2022Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2021Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2022Q3 us-gaap Profit Loss
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CY2021Q3 us-gaap Profit Loss
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CY2022Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2021Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2022Q3 us-gaap Net Income Loss
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CY2021Q3 us-gaap Net Income Loss
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CY2022Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
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CY2022Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2021Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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CY2022Q3 us-gaap Earnings Per Share Diluted
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CY2021Q3 us-gaap Earnings Per Share Diluted
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CY2021Q3 us-gaap Earnings Per Share Basic
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CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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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
WeightedAverageNumberOfDilutedSharesOutstanding
44937269 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44937269 shares

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