$ARMP
Armata Pharmaceuticals, Inc.

2022 Q1 Form 10-Q Financial Statement

#000155837022008532 Filed on May 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $1.236M $1.066M
YoY Change 15.95%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.983M $2.151M
YoY Change -7.81% -0.92%
% of Gross Profit
Research & Development $8.028M $4.350M
YoY Change 84.55% 58.18%
% of Gross Profit
Depreciation & Amortization $200.0K $300.0K
YoY Change -33.33% 1.69%
% of Gross Profit
Operating Expenses $10.01M $6.501M
YoY Change 53.99% 32.11%
Operating Profit -$8.775M -$5.435M
YoY Change 61.45%
Interest Expense $1.000K $62.00K
YoY Change -98.39% -139.49%
% of Operating Profit
Other Income/Expense, Net $1.000K -$60.00K
YoY Change -101.67%
Pretax Income -$8.774M -$5.495M
YoY Change 59.67% 8.21%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$8.774M -$5.495M
YoY Change 59.67% 8.21%
Net Earnings / Revenue -709.87% -515.48%
Basic Earnings Per Share -$0.30 -$0.27
Diluted Earnings Per Share -$0.30 -$0.27
COMMON SHARES
Basic Shares Outstanding 29.00M 20.46M
Diluted Shares Outstanding 29.00M 20.46M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.41M $22.46M
YoY Change 106.67% -7.25%
Cash & Equivalents $46.40M $22.46M
Short-Term Investments
Other Short-Term Assets $2.291M $459.0K
YoY Change 399.13% -70.71%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $48.70M $24.04M
YoY Change 102.58% -6.74%
LONG-TERM ASSETS
Property, Plant & Equipment $2.249M $12.81M
YoY Change -82.44% 233.27%
Goodwill $3.490M
YoY Change
Intangibles $10.26M
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.695M $2.249M
YoY Change -24.63% 205.57%
Total Long-Term Assets $59.07M $28.81M
YoY Change 105.05% 57.19%
TOTAL ASSETS
Total Short-Term Assets $48.70M $24.04M
Total Long-Term Assets $59.07M $28.81M
Total Assets $107.8M $52.85M
YoY Change 103.93% 19.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.437M $1.756M
YoY Change 95.73% 21.35%
Accrued Expenses $2.789M $2.501M
YoY Change 11.52% -2.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $724.0K
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.226M $4.981M
YoY Change 24.99% -21.65%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $36.92M $10.78M
YoY Change 242.67% 808.52%
Total Long-Term Liabilities $36.92M $10.78M
YoY Change 242.67% 808.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.226M $4.981M
Total Long-Term Liabilities $36.92M $10.78M
Total Liabilities $46.23M $18.83M
YoY Change 145.45% 77.34%
SHAREHOLDERS EQUITY
Retained Earnings -$211.6M
YoY Change
Common Stock $361.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $61.54M $34.01M
YoY Change
Total Liabilities & Shareholders Equity $107.8M $52.85M
YoY Change 103.93% 19.82%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$8.774M -$5.495M
YoY Change 59.67% 8.21%
Depreciation, Depletion And Amortization $200.0K $300.0K
YoY Change -33.33% 1.69%
Cash From Operating Activities -$3.515M -$5.475M
YoY Change -35.8% 29.37%
INVESTING ACTIVITIES
Capital Expenditures $236.0K $298.0K
YoY Change -20.81% -386.54%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$236.0K -$298.0K
YoY Change -20.81% 186.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $44.63M $19.55M
YoY Change 128.31%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 44.63M 18.58M
YoY Change 140.22% -17.1%
NET CHANGE
Cash From Operating Activities -3.515M -5.475M
Cash From Investing Activities -236.0K -298.0K
Cash From Financing Activities 44.63M 18.58M
Net Change In Cash 40.88M 12.81M
YoY Change 219.23% -29.15%
FREE CASH FLOW
Cash From Operating Activities -$3.515M -$5.475M
Capital Expenditures $236.0K $298.0K
Free Cash Flow -$3.751M -$5.773M
YoY Change -35.03% 39.85%

Facts In Submission

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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.
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<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>
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0
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
493000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
842000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2409682
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.64
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
103343
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
9.50
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2306339
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.47
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y9M18D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2598000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2306339
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
5.47
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y9M18D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
2598000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
952421
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.70
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y29D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1173000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2306339
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
21147219
CY2022Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
25160343
CY2022Q1 armp Operating Lease Base Rent
OperatingLeaseBaseRent
1900000
CY2022Q1 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 Period
LeaseAndRentalAbatementCreditPeriod
P6M
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 Two
BaseAnnualRentToBePaidYearTwo
250000
CY2021Q4 armp Maximum Allowance For Tenant Improvements Receivable
MaximumAllowanceForTenantImprovementsReceivable
7300000
CY2022Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
5000000.0
CY2022Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
1200000
CY2021Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
1100000

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