$ARMP
Armata Pharmaceuticals, Inc.

2022 Q3 Form 10-Q Financial Statement

#000155837022013269 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $1.338M $1.883M $1.236M
YoY Change 6.95% 61.22% 15.95%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.561M $2.083M $1.983M
YoY Change -11.71% -2.62% -7.81%
% of Gross Profit
Research & Development $8.400M $9.020M $8.028M
YoY Change 49.31% 72.63% 84.55%
% of Gross Profit
Depreciation & Amortization $200.0K $200.0K $200.0K
YoY Change -33.33% -33.33% -33.33%
% of Gross Profit
Operating Expenses $9.961M $11.10M $10.01M
YoY Change 34.72% 50.77% 53.99%
Operating Profit -$8.623M -$9.220M -$8.775M
YoY Change 40.37% 48.81% 61.45%
Interest Expense $9.000K $5.000K $1.000K
YoY Change 350.0% -98.39%
% of Operating Profit
Other Income/Expense, Net $9.000K $5.000K $1.000K
YoY Change -98.76% 150.0% -101.67%
Pretax Income -$8.614M -$9.215M -$8.774M
YoY Change 58.96% 48.77% 59.67%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$8.614M -$9.215M -$8.774M
YoY Change 58.96% 48.77% 59.67%
Net Earnings / Revenue -643.8% -489.38% -709.87%
Basic Earnings Per Share -$0.24 -$0.26 -$0.30
Diluted Earnings Per Share -$0.24 -$0.26 -$0.30
COMMON SHARES
Basic Shares Outstanding 36.14M 36.00M 29.00M
Diluted Shares Outstanding 36.04M 36.00M 29.00M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.38M $36.98M $46.41M
YoY Change 110.19% 110.87% 106.67%
Cash & Equivalents $25.40M $37.00M $46.40M
Short-Term Investments
Other Short-Term Assets $7.863M $4.328M $2.291M
YoY Change 823.97% 330.65% 399.13%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $33.25M $41.31M $48.70M
YoY Change 134.48% 109.58% 102.58%
LONG-TERM ASSETS
Property, Plant & Equipment $4.340M $3.256M $2.249M
YoY Change 105.98% 53.22% -82.44%
Goodwill $3.490M $3.490M $3.490M
YoY Change 0.0% 0.0%
Intangibles $10.26M $10.26M $10.26M
YoY Change 0.0% 0.0%
Long-Term Investments
YoY Change
Other Assets $953.0K $1.695M $1.695M
YoY Change 4.84% 91.09% -24.63%
Total Long-Term Assets $59.64M $59.68M $59.07M
YoY Change 109.3% 108.87% 105.05%
TOTAL ASSETS
Total Short-Term Assets $33.25M $41.31M $48.70M
Total Long-Term Assets $59.64M $59.68M $59.07M
Total Assets $92.88M $101.0M $107.8M
YoY Change 117.67% 109.16% 103.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.977M $4.021M $3.437M
YoY Change 64.38% 75.13% 95.73%
Accrued Expenses $4.027M $3.362M $2.789M
YoY Change 16.96% 16.66% 11.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.004M $7.383M $6.226M
YoY Change 33.31% 25.07% 24.99%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $37.22M $37.23M $36.92M
YoY Change 251.66% 248.56% 242.67%
Total Long-Term Liabilities $37.22M $37.23M $36.92M
YoY Change 251.66% 248.56% 242.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.004M $7.383M $6.226M
Total Long-Term Liabilities $37.22M $37.23M $36.92M
Total Liabilities $47.30M $47.69M $46.23M
YoY Change 150.07% 142.56% 145.45%
SHAREHOLDERS EQUITY
Retained Earnings -$229.5M -$220.8M -$211.6M
YoY Change 16.59% 15.39%
Common Stock $361.0K $361.0K $361.0K
YoY Change 44.98% 44.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $45.58M $53.29M $61.54M
YoY Change
Total Liabilities & Shareholders Equity $92.88M $101.0M $107.8M
YoY Change 117.67% 109.16% 103.93%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$8.614M -$9.215M -$8.774M
YoY Change 58.96% 48.77% 59.67%
Depreciation, Depletion And Amortization $200.0K $200.0K $200.0K
YoY Change -33.33% -33.33% -33.33%
Cash From Operating Activities -$10.33M -$8.148M -$3.515M
YoY Change 108.16% 79.55% -35.8%
INVESTING ACTIVITIES
Capital Expenditures -$1.294M -$1.136M $236.0K
YoY Change 122.34% 479.59% -20.81%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.294M -$1.136M -$236.0K
YoY Change 122.34% 479.59% -20.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $44.63M
YoY Change 128.31%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 31.00K -146.0K 44.63M
YoY Change -63.95% -21.08% 140.22%
NET CHANGE
Cash From Operating Activities -10.33M -8.148M -3.515M
Cash From Investing Activities -1.294M -1.136M -236.0K
Cash From Financing Activities 31.00K -146.0K 44.63M
Net Change In Cash -11.60M -9.430M 40.88M
YoY Change 112.38% 91.71% 219.23%
FREE CASH FLOW
Cash From Operating Activities -$10.33M -$8.148M -$3.515M
Capital Expenditures -$1.294M -$1.136M $236.0K
Free Cash Flow -$9.039M -$7.012M -$3.751M
YoY Change 106.28% 61.49% -35.03%

Facts In Submission

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armp Offering Costs Included In Accounts Payable
OfferingCostsIncludedInAccountsPayable
23000
us-gaap Contribution Of Property
ContributionOfProperty
85000
us-gaap Contribution Of Property
ContributionOfProperty
162000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
36978000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17536000
CY2022Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
5960000
CY2021Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1200000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42938000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18736000
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.
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
37000000.0
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>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19166428
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1173000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24059682
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
13902000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12445000
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10646000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10225000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3256000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2220000
CY2022Q2 us-gaap Depreciation
Depreciation
200000
CY2021Q2 us-gaap Depreciation
Depreciation
300000
us-gaap Depreciation
Depreciation
400000
us-gaap Depreciation
Depreciation
600000
armp Term Of Warrant
TermOfWarrant
P5Y
armp Term Of Warrant
TermOfWarrant
P5Y
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20549338
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
949000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
907000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1442000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1749000
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
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3380678
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
3100000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.08
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
21775
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.29
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
27000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
180229
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
7.34
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3380678
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.37
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M18D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
926000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
3380678
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
5.37
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y3M18D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
926000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1266771
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.63
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y9M14D
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
639000
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20549338
CY2022Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
24539701
armp Operating Lease Base Rent
OperatingLeaseBaseRent
1900000
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
CY2021Q2 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
1200000
CY2022Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
5000000.0
CY2022Q2 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
1900000
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
2200000
armp Research And Development Credits Recognized
ResearchAndDevelopmentCreditsRecognized
800000
CY2021Q2 armp Research And Development Credits Recognized
ResearchAndDevelopmentCreditsRecognized
800000

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0001558370-22-013269.txt Edgar Link pending
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