$ARMP
Armata Pharmaceuticals, Inc.

2022 Q4 Form 10-Q Financial Statement

#000155837022017141 Filed on November 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $1.051M $1.338M $1.251M
YoY Change 6.27% 6.95% 334.38%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.810M $1.561M $1.768M
YoY Change -18.58% -11.71% -4.17%
% of Gross Profit
Research & Development $9.569M $8.400M $5.626M
YoY Change 98.77% 49.31% 38.37%
% of Gross Profit
Depreciation & Amortization $245.0K $200.0K $300.0K
YoY Change -11.55% -33.33% 0.0%
% of Gross Profit
Operating Expenses $11.38M $9.961M $7.394M
YoY Change 61.7% 34.72% 25.09%
Operating Profit -$8.623M -$6.143M
YoY Change 40.37% 9.25%
Interest Expense $14.00K $9.000K $2.000K
YoY Change 1300.0% 350.0% -98.67%
% of Operating Profit
Other Income/Expense, Net $9.000K $724.0K
YoY Change -98.76% -595.89%
Pretax Income -$10.31M -$8.614M -$5.419M
YoY Change 70.56% 58.96% -6.07%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$10.31M -$8.614M -$5.419M
YoY Change 70.56% 58.96% -6.07%
Net Earnings / Revenue -981.35% -643.8% -433.17%
Basic Earnings Per Share -$0.24 -$0.22
Diluted Earnings Per Share -$0.29 -$0.24 -$218.3K
COMMON SHARES
Basic Shares Outstanding 36.14M 36.14M 24.94M
Diluted Shares Outstanding 36.04M 24.82M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.85M $25.38M $12.08M
YoY Change 44.36% 110.19% -23.98%
Cash & Equivalents $14.85M $25.40M $12.10M
Short-Term Investments
Other Short-Term Assets $12.20M $7.863M $851.0K
YoY Change 159.08% 823.97% -25.29%
Inventory
Prepaid Expenses $3.664M
Receivables
Other Receivables $8.531M
Total Short-Term Assets $27.05M $33.25M $14.18M
YoY Change 80.37% 134.48% -16.72%
LONG-TERM ASSETS
Property, Plant & Equipment $3.617M $4.340M $2.107M
YoY Change 62.93% 105.98% -83.56%
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 $2.429M $953.0K $909.0K
YoY Change 38.4% 4.84% -56.42%
Total Long-Term Assets $68.79M $59.64M $28.49M
YoY Change 25.59% 109.3% -0.55%
TOTAL ASSETS
Total Short-Term Assets $27.05M $33.25M $14.18M
Total Long-Term Assets $68.79M $59.64M $28.49M
Total Assets $95.83M $92.88M $42.67M
YoY Change 37.36% 117.67% -6.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.678M $2.977M $1.811M
YoY Change 47.45% 64.38% -3.21%
Accrued Expenses $20.55M $4.027M $3.443M
YoY Change 552.84% 16.96% 27.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $24.87M $7.004M $5.254M
YoY Change 416.68% 33.31% -25.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $31.80M $37.22M $10.59M
YoY Change -12.82% 251.66% -2.97%
Total Long-Term Liabilities $31.80M $37.22M $10.59M
YoY Change -12.82% 251.66% -2.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.87M $7.004M $5.254M
Total Long-Term Liabilities $31.80M $37.22M $10.59M
Total Liabilities $59.75M $47.30M $18.92M
YoY Change 34.67% 150.07% -10.16%
SHAREHOLDERS EQUITY
Retained Earnings -$239.8M -$229.5M -$196.8M
YoY Change 18.2% 16.59%
Common Stock $361.0K $361.0K $249.0K
YoY Change 33.21% 44.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $36.08M $45.58M $23.76M
YoY Change
Total Liabilities & Shareholders Equity $95.83M $92.88M $42.67M
YoY Change 37.36% 117.67% -6.58%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$10.31M -$8.614M -$5.419M
YoY Change 70.56% 58.96% -6.07%
Depreciation, Depletion And Amortization $245.0K $200.0K $300.0K
YoY Change -11.55% -33.33% 0.0%
Cash From Operating Activities -$10.49M -$10.33M -$4.964M
YoY Change 21.95% 108.16% 27.94%
INVESTING ACTIVITIES
Capital Expenditures -$455.0K -$1.294M -$582.0K
YoY Change 99.56% 122.34% 618.52%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $455.0K -$1.294M -$582.0K
YoY Change -299.56% 122.34% 618.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -500.0K 31.00K 86.00K
YoY Change -107.1% -63.95% 43.33%
NET CHANGE
Cash From Operating Activities -10.49M -10.33M -4.964M
Cash From Investing Activities 455.0K -1.294M -582.0K
Cash From Financing Activities -500.0K 31.00K 86.00K
Net Change In Cash -10.53M -11.60M -5.460M
YoY Change 488.93% 112.38% 39.96%
FREE CASH FLOW
Cash From Operating Activities -$10.49M -$10.33M -$4.964M
Capital Expenditures -$455.0K -$1.294M -$582.0K
Free Cash Flow -$10.03M -$9.039M -$4.382M
YoY Change 19.83% 106.28% 15.35%

Facts In Submission

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CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13276000
armp Forgiveness Related To Paycheck Protection Program
ForgivenessRelatedToPaycheckProtectionProgram
722000
us-gaap Contribution Of Property
ContributionOfProperty
101000
us-gaap Contribution Of Property
ContributionOfProperty
124000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25382000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12076000
CY2022Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
5960000
CY2021Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1200000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31342000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13276000
us-gaap Substantial Doubt About Going Concern Managements Evaluation
SubstantialDoubtAboutGoingConcernManagementsEvaluation
The Company has prepared its condensed 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 condensed consolidated 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
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25400000
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 condensed 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 condensed 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 Depreciation
Depreciation
600000
us-gaap Depreciation
Depreciation
900000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24064166
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19240888
armp Term Of Warrant
TermOfWarrant
P5Y
CY2021Q3 us-gaap Depreciation
Depreciation
300000
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
15212000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12445000
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10872000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10225000
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4340000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2220000
CY2022Q3 us-gaap Depreciation
Depreciation
200000
CY2022Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20549338
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
5.36
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.04
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
38287
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
44000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
202733
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
7.29
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3385162
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.36
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y29D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1397000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
3385162
CY2020Q2 armp Operating Lease Base Rent End Of Lease Term
OperatingLeaseBaseRentEndOfLeaseTerm
2500000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
846000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
469000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2288000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2218000
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
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1216500
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y29D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1397000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1291192
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.54
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y9M14D
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
942000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3385162
CY2022Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20549338
CY2022Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
24612176
armp Operating Lease Base Rent
OperatingLeaseBaseRent
1900000
armp Annual Increase In Rent Percentage
AnnualIncreaseInRentPercentage
0.03
CY2020Q2 armp Lease And Rental Abatement Credit Period
LeaseAndRentalAbatementCreditPeriod
P6M
CY2021 armp Lease And Rental Abatement Credit
LeaseAndRentalAbatementCredit
800000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
11700000
CY2021Q4 armp Maximum Allowance For Tenant Improvements Receivable
MaximumAllowanceForTenantImprovementsReceivable
7300000
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
CY2022Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
5000000.0
CY2022Q3 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
1300000
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
4500000
CY2021Q3 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
1300000
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
3500000
armp Research And Development Credits Recognized
ResearchAndDevelopmentCreditsRecognized
500000
CY2022Q3 armp Research And Development Credits Recognized
ResearchAndDevelopmentCreditsRecognized
500000
armp Research And Development Credits Recognized
ResearchAndDevelopmentCreditsRecognized
800000
CY2021Q3 armp Research And Development Credits Recognized
ResearchAndDevelopmentCreditsRecognized
800000

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0001558370-22-017141.txt Edgar Link pending
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