2022 Q4 Form 10-Q Financial Statement

#000162828022027580 Filed on November 01, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $10.68M $11.46M
YoY Change -3.57% -13.73%
Cost Of Revenue $5.305M $4.625M
YoY Change 57.61% 5.11%
Gross Profit $5.377M $6.838M
YoY Change -30.28% -23.06%
Gross Profit Margin 50.34% 59.65%
Selling, General & Admin $11.81M $12.46M
YoY Change -21.15% 2.72%
% of Gross Profit 219.68% 182.2%
Research & Development $4.278M $3.232M
YoY Change -2.77% -31.61%
% of Gross Profit 79.56% 47.27%
Depreciation & Amortization $397.0K $557.0K
YoY Change -45.69% -23.07%
% of Gross Profit 7.38% 8.15%
Operating Expenses $16.09M $15.69M
YoY Change -16.98% -6.91%
Operating Profit -$10.71M -$8.853M
YoY Change -8.19% 11.11%
Interest Expense -$1.639M $1.649M
YoY Change -52.55% -40.83%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$12.35M -$12.54M
YoY Change -57.33% -13.87%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$12.35M -$12.54M
YoY Change -57.33% -13.87%
Net Earnings / Revenue -115.63% -109.36%
Basic Earnings Per Share -$0.23
Diluted Earnings Per Share -$0.23 -$0.23
COMMON SHARES
Basic Shares Outstanding 54.16M shares 53.35M shares
Diluted Shares Outstanding 53.42M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.27M $18.65M
YoY Change -2.68% -40.16%
Cash & Equivalents $27.27M $18.65M
Short-Term Investments
Other Short-Term Assets $2.131M $1.976M
YoY Change -30.74% -22.2%
Inventory $5.780M $6.725M
Prepaid Expenses
Receivables $4.704M $10.74M
Other Receivables $0.00 $0.00
Total Short-Term Assets $39.89M $38.09M
YoY Change -15.6% -24.14%
LONG-TERM ASSETS
Property, Plant & Equipment $7.901M $4.284M
YoY Change 56.3% -17.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.451M $5.893M
YoY Change -6.55% -14.66%
Total Long-Term Assets $15.79M $13.76M
YoY Change 7.15% -8.78%
TOTAL ASSETS
Total Short-Term Assets $39.89M $38.09M
Total Long-Term Assets $15.79M $13.76M
Total Assets $55.68M $51.85M
YoY Change -10.19% -20.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.946M $11.07M
YoY Change 19.63% 78.15%
Accrued Expenses $8.373M $7.733M
YoY Change -4.16% 1.43%
Deferred Revenue $1.513M $774.0K
YoY Change 97.78% 0.91%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $18.70M $14.23M
YoY Change 823.46% 84.14%
Total Short-Term Liabilities $39.68M $36.56M
YoY Change 80.65% 46.01%
LONG-TERM LIABILITIES
Long-Term Debt $33.45M $38.68M
YoY Change -35.12% 18.37%
Other Long-Term Liabilities $101.1M $2.159M
YoY Change 3968.49% 19.28%
Total Long-Term Liabilities $134.6M $2.159M
YoY Change 5314.49% 19.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $39.68M $36.56M
Total Long-Term Liabilities $134.6M $2.159M
Total Liabilities $174.2M $159.7M
YoY Change 20.89% 27.08%
SHAREHOLDERS EQUITY
Retained Earnings -$311.2M -$298.9M
YoY Change 21.19% 31.16%
Common Stock $55.00K $54.00K
YoY Change 34.15% 35.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$118.6M -$107.8M
YoY Change
Total Liabilities & Shareholders Equity $55.68M $51.85M
YoY Change -10.19% -20.6%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$12.35M -$12.54M
YoY Change -57.33% -13.87%
Depreciation, Depletion And Amortization $397.0K $557.0K
YoY Change -45.69% -23.07%
Cash From Operating Activities $8.446M $2.809M
YoY Change -204.78% -130.99%
INVESTING ACTIVITIES
Capital Expenditures $26.00K -$1.717M
YoY Change -104.88% 1968.67%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$26.00K -$1.717M
YoY Change -95.12% 1968.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 204.0K -138.0K
YoY Change -96.26% -102.27%
NET CHANGE
Cash From Operating Activities 8.446M 2.809M
Cash From Investing Activities -26.00K -1.717M
Cash From Financing Activities 204.0K -138.0K
Net Change In Cash 8.624M 954.0K
YoY Change -374.65% -131.07%
FREE CASH FLOW
Cash From Operating Activities $8.446M $2.809M
Capital Expenditures $26.00K -$1.717M
Free Cash Flow $8.420M $4.526M
YoY Change -211.85% -150.39%

Facts In Submission

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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AccountsReceivableGross
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AccountsReceivableGross
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CY2022Q2 aqst Cash Payment Representing90 Days Of Base Pay
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CY2022Q2 aqst Coverage Duration
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CY2022Q2 aqst Consulting Fee
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us-gaap Depreciation
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CY2022Q3 us-gaap Inventory Raw Materials
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1734000 usd
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2995000 usd
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6725000 usd
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4038000 usd
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424000 usd
us-gaap Net Income Loss
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44915000 usd
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
41629000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
39860000 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
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4284000 usd
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5055000 usd
CY2022Q3 us-gaap Depreciation
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557000 usd
CY2021Q3 us-gaap Depreciation
Depreciation
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us-gaap Depreciation
Depreciation
1926000 usd
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110000 usd
us-gaap Variable Lease Cost
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333000 usd
CY2021Q3 us-gaap Operating Lease Cost
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431000 usd
us-gaap Operating Lease Cost
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1294000 usd
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117000 usd
us-gaap Variable Lease Cost
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352000 usd
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LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
324000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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565000 usd
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LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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424000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2822000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
636000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2186000 usd
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2250000 usd
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FiniteLivedIntangibleAssetsGross
4367000 usd
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FiniteLivedIntangibleAssetsGross
2867000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2880000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2816000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1487000 usd
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FiniteLivedIntangibleAssetsNet
51000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
39000 usd
CY2021Q3 us-gaap Amortization Of Intangible Assets
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13000 usd
us-gaap Amortization Of Intangible Assets
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64000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
38000 usd
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53424922 shares
CY2022Q3 aqst Cumulative Royalty Receivable
CumulativeRoyaltyReceivable
5000000 usd
CY2021Q4 aqst Cumulative Royalty Receivable
CumulativeRoyaltyReceivable
6000000 usd
CY2022Q3 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
893000 usd
CY2021Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
903000 usd
CY2022Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
5893000 usd
CY2021Q4 us-gaap Other Assets Noncurrent
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6903000 usd
aqst Number Of Guaranteed Royalty Payments
NumberOfGuaranteedRoyaltyPayments
8 payment
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53424922 shares
CY2022Q3 us-gaap Employee Related Liabilities Current
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4939000 usd
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EmployeeRelatedLiabilitiesCurrent
5965000 usd
CY2022Q3 us-gaap Taxes Payable Current
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351000 usd
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349000 usd
CY2022Q3 aqst Accounts Receivable Allowances And Accruals Accounts Payable And Accrued Expenses
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2229000 usd
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2224000 usd
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214000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
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198000 usd
CY2022Q3 us-gaap Accrued Liabilities Current
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7733000 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
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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18025000 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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21888000 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
11587000 usd
CY2022Q3 us-gaap Long Term Debt
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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
0 shares
us-gaap Payments Of Financing Costs
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2909000 usd
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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39224863 shares
CY2021Q4 aqst Liabilities Sale Of Future Royalties
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60284000 usd
us-gaap Amortization Of Financing Costs
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154000 usd
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5683000 usd
us-gaap Net Income Loss
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CY2022Q3 aqst Liabilities Sale Of Future Royalties Current
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1910000 usd
CY2022Q3 aqst Liabilities Sale Of Future Royalties
LiabilitiesSaleOfFutureRoyalties
65218000 usd
CY2022Q3 us-gaap Net Income Loss
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-12536000 usd
CY2021Q3 us-gaap Net Income Loss
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-14555000 usd
us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39224863 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46828218 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46828218 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37297892 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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37297892 shares
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-14555000 usd
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.23
CY2021Q3 us-gaap Earnings Per Share Diluted
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-0.37
CY2021Q3 us-gaap Earnings Per Share Basic
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-0.37
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.90
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.90
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.12
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
535000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1900000 usd
us-gaap Allocated Share Based Compensation Expense
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3669000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5128000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
535000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1900000 usd
us-gaap Allocated Share Based Compensation Expense
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3669000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5128000 usd
CY2022Q3 aqst Inducement Equity Common Stock Options Award Shares
InducementEquityCommonStockOptionsAwardShares
100000 shares
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd

Files In Submission

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0001628280-22-027580.txt Edgar Link pending
0001628280-22-027580-xbrl.zip Edgar Link pending
aqst-09302022ex311.htm Edgar Link pending
aqst-09302022ex312.htm Edgar Link pending
aqst-09302022ex321.htm Edgar Link pending
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