$ARMP
Armata Pharmaceuticals, Inc.

2021 Q4 Form 10-Q Financial Statement

#000155837021015483 Filed on November 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $989.0K $1.251M $288.0K
YoY Change 96.23% 334.38%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.223M $1.768M $1.845M
YoY Change 153.48% -4.17% -50.93%
% of Gross Profit
Research & Development $4.814M $5.626M $4.066M
YoY Change -3.33% 38.37% 34.64%
% of Gross Profit
Depreciation & Amortization $277.0K $300.0K $300.0K
YoY Change 1.09% 0.0% -18.03%
% of Gross Profit
Operating Expenses $7.037M $7.394M $5.911M
YoY Change 20.15% 25.09% -12.82%
Operating Profit -$6.143M -$5.623M
YoY Change 9.25%
Interest Expense $1.000K $2.000K $150.0K
YoY Change -100.56% -98.67% -183.33%
% of Operating Profit
Other Income/Expense, Net $724.0K -$146.0K
YoY Change -595.89% 14500.0%
Pretax Income -$6.047M -$5.419M -$5.769M
YoY Change -8.71% -6.07% -17.11%
Income Tax
% Of Pretax Income
Net Earnings -$6.047M -$5.419M -$5.769M
YoY Change -8.71% -6.07% -17.11%
Net Earnings / Revenue -611.43% -433.17% -2003.13%
Basic Earnings Per Share -$0.22
Diluted Earnings Per Share -$229.7K -$218.3K -$313.6K
COMMON SHARES
Basic Shares Outstanding 27.09M 24.94M 18.39M
Diluted Shares Outstanding 24.82M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.29M $12.08M $15.89M
YoY Change 6.62% -23.98% 82.8%
Cash & Equivalents $10.29M $12.10M $15.89M
Short-Term Investments
Other Short-Term Assets $4.707M $851.0K $1.139M
YoY Change 293.23% -25.29% -8.44%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $15.00M $14.18M $17.02M
YoY Change 38.25% -16.72% 71.37%
LONG-TERM ASSETS
Property, Plant & Equipment $2.220M $2.107M $12.82M
YoY Change 8.45% -83.56% 167.73%
Goodwill $3.490M $3.490M
YoY Change 0.0%
Intangibles $10.26M $10.26M
YoY Change 0.0%
Long-Term Investments
YoY Change
Other Assets $1.755M $909.0K $2.086M
YoY Change 97.86% -56.42% 149.52%
Total Long-Term Assets $54.77M $28.49M $28.65M
YoY Change 91.05% -0.55% 47.91%
TOTAL ASSETS
Total Short-Term Assets $15.00M $14.18M $17.02M
Total Long-Term Assets $54.77M $28.49M $28.65M
Total Assets $69.77M $42.67M $45.68M
YoY Change 76.56% -6.58% 55.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.138M $1.811M $1.871M
YoY Change 19.04% -3.21% 48.37%
Accrued Expenses $3.147M $3.443M $2.708M
YoY Change 10.85% 27.14% -3.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $720.0K
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.814M $5.254M $7.070M
YoY Change -28.2% -25.69% 42.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $36.48M $10.59M $10.91M
YoY Change 235.39% -2.97% 248.53%
Total Long-Term Liabilities $36.48M $10.59M $10.91M
YoY Change 235.39% -2.97% 248.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.814M $5.254M $7.070M
Total Long-Term Liabilities $36.48M $10.59M $10.91M
Total Liabilities $44.37M $18.92M $21.06M
YoY Change 114.78% -10.16% 88.47%
SHAREHOLDERS EQUITY
Retained Earnings -$202.9M -$196.8M
YoY Change 12.89%
Common Stock $271.0K $249.0K
YoY Change 44.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $25.40M $23.76M $24.62M
YoY Change
Total Liabilities & Shareholders Equity $69.77M $42.67M $45.68M
YoY Change 76.56% -6.58% 55.87%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$6.047M -$5.419M -$5.769M
YoY Change -8.71% -6.07% -17.11%
Depreciation, Depletion And Amortization $277.0K $300.0K $300.0K
YoY Change 1.09% 0.0% -18.03%
Cash From Operating Activities -$8.598M -$4.964M -$3.880M
YoY Change 36.43% 27.94% -15.04%
INVESTING ACTIVITIES
Capital Expenditures -$228.0K -$582.0K -$81.00K
YoY Change -37.7% 618.52% -224.62%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$228.0K -$582.0K -$81.00K
YoY Change -37.7% 618.52% -224.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.038M 86.00K 60.00K
YoY Change 1529.17% 43.33%
NET CHANGE
Cash From Operating Activities -8.598M -4.964M -3.880M
Cash From Investing Activities -228.0K -582.0K -81.00K
Cash From Financing Activities 7.038M 86.00K 60.00K
Net Change In Cash -1.788M -5.460M -3.901M
YoY Change -71.33% 39.96% -13.35%
FREE CASH FLOW
Cash From Operating Activities -$8.598M -$4.964M -$3.880M
Capital Expenditures -$228.0K -$582.0K -$81.00K
Free Cash Flow -$8.370M -$4.382M -$3.799M
YoY Change 41.0% 15.35% -17.98%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17085000
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
15885000
CY2021Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1200000
CY2020Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1200000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12076000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13276000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17085000
us-gaap Substantial Doubt About Going Concern Managements Evaluation
SubstantialDoubtAboutGoingConcernManagementsEvaluation
The Company has prepared its consolidated financial statements on a going concern basis, which assumes that the Company will realize its assets and satisfy its liabilities in the normal course of business. However, the Company has incurred net losses since its inception and has negative operating cash flows. These circumstances raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of the uncertainty concerning the Company’s ability to continue as a going concern.
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12100000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in its consolidated financial statements and accompanying notes. On an ongoing basis, management evaluates these estimates and judgments, which are based on historical and anticipated results and trends, and on various other assumptions that management believes to be reasonable under the circumstances. By their nature, estimates are subject to an inherent degree of uncertainty and, as such, actual results may differ from management’s estimates.</p>
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1668926
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.30
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M25D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
856150
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.77
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
73517
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.27
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
98000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19240888
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12256790
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12053000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11102000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9946000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9055000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2107000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2047000
CY2020Q3 us-gaap Depreciation
Depreciation
300000
CY2021Q3 us-gaap Depreciation
Depreciation
300000
us-gaap Depreciation
Depreciation
900000
us-gaap Depreciation
Depreciation
800000
CY2021Q3 armp Gain Loss On Extinguishment Of Paycheck Protection Program Loan
GainLossOnExtinguishmentOfPaycheckProtectionProgramLoan
700000
armp Term Of Warrant
TermOfWarrant
P5Y
CY2021Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
16647219
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
1
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
469000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
663000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2218000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2613000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
11908
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
48.67
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2439651
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.65
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M8D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
609000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2439651
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
5.65
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y2M8D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
609000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
733721
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.48
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y6M18D
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
252000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2439651
CY2021Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
16647219
CY2021Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
19354474
CY2020Q2 armp Operating Lease Base Rent
OperatingLeaseBaseRent
1900000
CY2020Q2 armp Annual Increase In Rent Percentage
AnnualIncreaseInRentPercentage
0.03
CY2020Q2 armp Operating Lease Base Rent End Of Lease Term
OperatingLeaseBaseRentEndOfLeaseTerm
2500000
CY2020Q2 armp Lease And Rental Abatement Credit
LeaseAndRentalAbatementCredit
800000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
11700000
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
11000000.0
CY2020Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.1289
CY2021Q4 us-gaap Lessee Operating Lease Lease Not Yet Commenced Term Of Contract1
LesseeOperatingLeaseLeaseNotYetCommencedTermOfContract1
P16Y
CY2021Q4 armp Base Annual Rent To Be Paid Year One
BaseAnnualRentToBePaidYearOne
250000
CY2021Q4 armp Maximum Allowance For Tenant Improvements Receivable
MaximumAllowanceForTenantImprovementsReceivable
6500000
CY2021Q3 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
1300000
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
3500000
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
300000
CY2020Q3 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
300000
us-gaap Interest Expense
InterestExpense
100000
us-gaap Interest Expense
InterestExpense
500000

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