2022 Q3 Form 10-Q Financial Statement

#000162828022020244 Filed on August 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $11.46M $13.27M $12.27M
YoY Change -13.73% -13.55% 10.32%
Cost Of Revenue $4.625M $5.242M $4.214M
YoY Change 5.11% 17.38% 52.85%
Gross Profit $6.838M $8.023M $8.056M
YoY Change -23.06% -26.25% -3.69%
Gross Profit Margin 59.65% 60.48% 65.66%
Selling, General & Admin $12.46M $15.59M $13.02M
YoY Change 2.72% 18.68% -1.59%
% of Gross Profit 182.2% 194.28% 161.63%
Research & Development $3.232M $5.198M $4.773M
YoY Change -31.61% 21.96% 30.45%
% of Gross Profit 47.27% 64.79% 59.25%
Depreciation & Amortization $557.0K $655.0K $714.0K
YoY Change -23.07% -10.03% -3.9%
% of Gross Profit 8.15% 8.16% 8.86%
Operating Expenses $15.69M $20.79M $17.79M
YoY Change -6.91% 19.48% 5.35%
Operating Profit -$8.853M -$12.76M -$9.738M
YoY Change 11.11% 95.83% 14.23%
Interest Expense $1.649M $1.635M $1.618M
YoY Change -40.83% -40.7% -41.4%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$12.54M -$16.30M -$13.22M
YoY Change -13.87% 31.82% -9.9%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$12.54M -$16.30M -$13.22M
YoY Change -13.87% 31.82% -9.9%
Net Earnings / Revenue -109.36% -122.89% -107.74%
Basic Earnings Per Share -$0.23 -$0.36 -$0.32
Diluted Earnings Per Share -$0.23 -$0.36 -$0.32
COMMON SHARES
Basic Shares Outstanding 53.35M shares 45.46M shares 41.47M shares
Diluted Shares Outstanding 53.42M shares 45.46M shares 41.47M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.65M $17.70M $14.74M
YoY Change -40.16% -48.31% -46.41%
Cash & Equivalents $18.65M $17.70M $14.74M
Short-Term Investments
Other Short-Term Assets $1.976M $1.637M $3.324M
YoY Change -22.2% -8.95% -15.63%
Inventory $6.725M $5.008M $4.629M
Prepaid Expenses
Receivables $10.74M $19.17M $19.90M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $38.09M $43.51M $42.59M
YoY Change -24.14% -14.69% -4.18%
LONG-TERM ASSETS
Property, Plant & Equipment $4.284M $4.569M $4.496M
YoY Change -17.57% -21.1% -28.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.893M $5.897M $6.886M
YoY Change -14.66% -14.64% -12.11%
Total Long-Term Assets $13.76M $12.81M $13.94M
YoY Change -8.78% -19.35% -20.23%
TOTAL ASSETS
Total Short-Term Assets $38.09M $43.51M $42.59M
Total Long-Term Assets $13.76M $12.81M $13.94M
Total Assets $51.85M $56.31M $56.53M
YoY Change -20.6% -15.8% -8.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.07M $8.887M $8.496M
YoY Change 78.15% 9.72% 27.05%
Accrued Expenses $7.733M $7.042M $4.868M
YoY Change 1.43% 6.97% -23.59%
Deferred Revenue $774.0K $1.599M $1.599M
YoY Change 0.91% 149.07% 265.9%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $14.23M $9.750M $6.563M
YoY Change 84.14% 89.32% 70.03%
Total Short-Term Liabilities $36.56M $29.64M $24.18M
YoY Change 46.01% 28.66% 20.62%
LONG-TERM LIABILITIES
Long-Term Debt $38.68M $43.82M $47.68M
YoY Change 18.37% 28.62% 39.46%
Other Long-Term Liabilities $2.159M $2.379M $1.862M
YoY Change 19.28% 34.41% 5.74%
Total Long-Term Liabilities $2.159M $2.379M $1.862M
YoY Change 19.28% 34.41% 5.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $36.56M $29.64M $24.18M
Total Long-Term Liabilities $2.159M $2.379M $1.862M
Total Liabilities $159.7M $152.7M $149.7M
YoY Change 27.08% 26.54% 31.61%
SHAREHOLDERS EQUITY
Retained Earnings -$298.9M -$286.3M -$270.0M
YoY Change 31.16% 34.24% 34.38%
Common Stock $54.00K $53.00K $41.00K
YoY Change 35.0% 35.9% 13.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$107.8M -$96.36M -$93.14M
YoY Change
Total Liabilities & Shareholders Equity $51.85M $56.31M $56.53M
YoY Change -20.6% -15.8% -8.71%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$12.54M -$16.30M -$13.22M
YoY Change -13.87% 31.82% -9.9%
Depreciation, Depletion And Amortization $557.0K $655.0K $714.0K
YoY Change -23.07% -10.03% -3.9%
Cash From Operating Activities $2.809M -$6.562M -$14.48M
YoY Change -130.99% 274.33% 2.73%
INVESTING ACTIVITIES
Capital Expenditures -$1.717M -$677.0K $104.0K
YoY Change 1968.67% 243.65% 0.97%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.717M -$677.0K -$104.0K
YoY Change 1968.67% 243.65% 0.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -138.0K 10.20M $1.298M
YoY Change -102.27% 17.39% -86.88%
NET CHANGE
Cash From Operating Activities 2.809M -6.562M -$14.48M
Cash From Investing Activities -1.717M -677.0K -$104.0K
Cash From Financing Activities -138.0K 10.20M $1.298M
Net Change In Cash 954.0K 2.959M -$13.29M
YoY Change -131.07% -56.08% 208.38%
FREE CASH FLOW
Cash From Operating Activities $2.809M -$6.562M -$14.48M
Capital Expenditures -$1.717M -$677.0K $104.0K
Free Cash Flow $4.526M -$5.885M -$14.59M
YoY Change -150.39% 278.21% 2.72%

Facts In Submission

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39860000 usd
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Depreciation
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us-gaap Depreciation
Depreciation
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863000 usd
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LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
649000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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565000 usd
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LesseeOperatingLeaseLiabilityPaymentsDueYearFour
424000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3148000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
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CY2022Q2 us-gaap Operating Lease Liability
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2909000 usd
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CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2867000 usd
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FiniteLivedIntangibleAssetsGross
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CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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FiniteLivedIntangibleAssetsAccumulatedAmortization
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25000 usd
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FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
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CY2022Q2 aqst Cumulative Royalty Receivable
CumulativeRoyaltyReceivable
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CY2021Q4 aqst Cumulative Royalty Receivable
CumulativeRoyaltyReceivable
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CY2022Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
897000 usd
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903000 usd
CY2022Q2 us-gaap Other Assets Noncurrent
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5897000 usd
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6903000 usd
aqst Number Of Guaranteed Royalty Payments
NumberOfGuaranteedRoyaltyPayments
8 payment
aqst Premiums Paid Early Retirement Of Debt
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2250000 usd
CY2022Q2 us-gaap Employee Related Liabilities Current
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3928000 usd
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5965000 usd
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267000 usd
CY2021Q4 us-gaap Taxes Payable Current
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349000 usd
CY2022Q2 aqst Accounts Receivable Allowances And Accruals Accounts Payable And Accrued Expenses
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2656000 usd
CY2021Q4 aqst Accounts Receivable Allowances And Accruals Accounts Payable And Accrued Expenses
AccountsReceivableAllowancesAndAccrualsAccountsPayableAndAccruedExpenses
2224000 usd
CY2022Q2 us-gaap Other Accrued Liabilities Current
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191000 usd
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198000 usd
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7042000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
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8736000 usd
CY2019Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
2000000 shares
CY2019Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.001
CY2019Q3 aqst Net Proceeds From Issuance Of Initial Notes Warrants And First Offer Rights
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66082000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
18025000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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21888000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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11587000 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
51500000 usd
CY2021Q4 us-gaap Gains Losses On Extinguishment Of Debt
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13822000 usd
aqst Class Of Warrant Or Right Warrants Exercised
ClassOfWarrantOrRightWarrantsExercised
0 shares
aqst Class Of Warrant Or Right Warrants Exercised
ClassOfWarrantOrRightWarrantsExercised
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CY2022Q2 aqst Shares Of Common Stock Entitled To Purchasers By Pre Funded Warrants
SharesOfCommonStockEntitledToPurchasersByPreFundedWarrants
4000000 shares
CY2022Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.0001
CY2022Q2 aqst Shares Of Common Stock To Be Purchased By Common Stock Warrants
SharesOfCommonStockToBePurchasedByCommonStockWarrants
8850000 shares
CY2021Q4 aqst Liabilities Sale Of Future Royalties
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us-gaap Amortization Of Financing Costs
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101000 usd
aqst Interest Expense Sale Of Future Revenues Excluding Amortization
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3722000 usd
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1445000 usd
CY2022Q2 aqst Liabilities Sale Of Future Royalties
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CY2022Q2 us-gaap Net Income Loss
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-16302000 usd
CY2021Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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-29522000 usd
us-gaap Net Income Loss
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CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37065300 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43475198 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43475198 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36318437 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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36318437 shares
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.36
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.68
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.68
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.74
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.74
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2221000 usd
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1721000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3134000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3228000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2221000 usd
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1721000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3134000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3228000 usd
CY2019Q1 aqst Percent Of Fair Value Of Shares Employees Purchase
PercentOfFairValueOfSharesEmployeesPurchase
0.85
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022Q2 us-gaap Net Income Loss
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CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q2 us-gaap Income Tax Expense Benefit
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0 usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Net Income Loss
NetIncomeLoss
-29522000 usd
us-gaap Net Income Loss
NetIncomeLoss
-27039000 usd

Files In Submission

Name View Source Status
0001628280-22-020244-index-headers.html Edgar Link pending
0001628280-22-020244-index.html Edgar Link pending
0001628280-22-020244.txt Edgar Link pending
0001628280-22-020244-xbrl.zip Edgar Link pending
aqst-06302022ex311.htm Edgar Link pending
aqst-06302022ex312.htm Edgar Link pending
aqst-06302022ex321.htm Edgar Link pending
aqst-06302022ex322.htm Edgar Link pending
aqst-20220630.htm Edgar Link pending
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