$ARMP
Armata Pharmaceuticals, Inc.

2023 Q2 Form 10-Q Financial Statement

#000155837023009372 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $980.0K $796.0K $1.236M
YoY Change -47.96% -35.6% 15.95%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.350M $2.538M $1.983M
YoY Change 12.82% 27.99% -7.81%
% of Gross Profit
Research & Development $8.259M $9.604M $8.028M
YoY Change -8.44% 19.63% 84.55%
% of Gross Profit
Depreciation & Amortization $200.0K $200.0K $200.0K
YoY Change 0.0% 0.0% -33.33%
% of Gross Profit
Operating Expenses $10.61M $12.14M $10.01M
YoY Change -4.45% 21.29% 53.99%
Operating Profit -$9.629M -$11.35M -$8.775M
YoY Change 4.44% 29.3% 61.45%
Interest Expense $6.082M -$3.144M $1.000K
YoY Change 121540.0% -314500.0% -98.39%
% of Operating Profit
Other Income/Expense, Net $6.082M -$3.144M $1.000K
YoY Change 121540.0% -314500.0% -101.67%
Pretax Income -$3.547M -$14.49M -$8.774M
YoY Change -61.51% 65.15% 59.67%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.547M -$14.49M -$8.774M
YoY Change -61.51% 65.15% 59.67%
Net Earnings / Revenue -361.94% -1820.35% -709.87%
Basic Earnings Per Share -$0.10 -$0.40 -$0.30
Diluted Earnings Per Share -$0.17 -$0.40 -$0.30
COMMON SHARES
Basic Shares Outstanding 36.14M 36.14M 29.00M
Diluted Shares Outstanding 56.54M 36.05M 29.00M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.46M $25.11M $46.41M
YoY Change -66.32% -45.9% 106.67%
Cash & Equivalents $12.50M $25.10M $46.40M
Short-Term Investments
Other Short-Term Assets $8.633M $13.49M $2.291M
YoY Change 99.47% 488.78% 399.13%
Inventory
Prepaid Expenses $5.745M
Receivables
Other Receivables $8.633M
Total Short-Term Assets $26.83M $38.60M $48.70M
YoY Change -35.04% -20.75% 102.58%
LONG-TERM ASSETS
Property, Plant & Equipment $8.807M $5.437M $2.249M
YoY Change 170.49% 141.75% -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 $2.453M $2.453M $1.695M
YoY Change 44.72% 44.72% -24.63%
Total Long-Term Assets $74.38M $70.18M $59.07M
YoY Change 24.63% 18.82% 105.05%
TOTAL ASSETS
Total Short-Term Assets $26.83M $38.60M $48.70M
Total Long-Term Assets $74.38M $70.18M $59.07M
Total Assets $101.2M $108.8M $107.8M
YoY Change 0.23% 0.94% 103.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.584M $5.000M $3.437M
YoY Change 138.35% 45.48% 95.73%
Accrued Expenses $15.63M $14.03M $2.789M
YoY Change 364.78% 402.94% 11.52%
Deferred Revenue
YoY Change
Short-Term Debt $26.35M $32.39M $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $51.56M $51.42M $6.226M
YoY Change 598.39% 725.81% 24.99%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $27.43M $31.84M $36.92M
YoY Change -26.33% -13.77% 242.67%
Total Long-Term Liabilities $27.43M $31.84M $36.92M
YoY Change -26.33% -13.77% 242.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $51.56M $51.42M $6.226M
Total Long-Term Liabilities $27.43M $31.84M $36.92M
Total Liabilities $82.07M $86.33M $46.23M
YoY Change 72.08% 86.76% 145.45%
SHAREHOLDERS EQUITY
Retained Earnings -$257.8M -$254.3M -$211.6M
YoY Change 16.74% 20.14%
Common Stock $361.0K $361.0K $361.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $19.14M $22.45M $61.54M
YoY Change
Total Liabilities & Shareholders Equity $101.2M $108.8M $107.8M
YoY Change 0.23% 0.94% 103.93%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$3.547M -$14.49M -$8.774M
YoY Change -61.51% 65.15% 59.67%
Depreciation, Depletion And Amortization $200.0K $200.0K $200.0K
YoY Change 0.0% 0.0% -33.33%
Cash From Operating Activities -$12.06M -$17.57M -$3.515M
YoY Change 48.01% 399.86% -35.8%
INVESTING ACTIVITIES
Capital Expenditures $222.0K $2.010M $236.0K
YoY Change -119.54% 751.69% -20.81%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$222.0K -$2.010M -$236.0K
YoY Change -80.46% 751.69% -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 -368.0K 29.59M 44.63M
YoY Change 152.05% -33.69% 140.22%
NET CHANGE
Cash From Operating Activities -12.06M -17.57M -3.515M
Cash From Investing Activities -222.0K -2.010M -236.0K
Cash From Financing Activities -368.0K 29.59M 44.63M
Net Change In Cash -12.65M 10.01M 40.88M
YoY Change 34.15% -75.5% 219.23%
FREE CASH FLOW
Cash From Operating Activities -$12.06M -$17.57M -$3.515M
Capital Expenditures $222.0K $2.010M $236.0K
Free Cash Flow -$12.28M -$19.58M -$3.751M
YoY Change 75.16% 421.99% -35.03%

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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.
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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 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><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>
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CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11333000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11103000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5437000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3617000
CY2022Q1 us-gaap Depreciation
Depreciation
200000
CY2023Q1 us-gaap Depreciation
Depreciation
200000
CY2023Q1 armp Term Of Warrant
TermOfWarrant
P5Y
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20549338
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
857000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
493000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3352803
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.32
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y9M18D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
17500
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.36
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
4874
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
25.99
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3365429
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.27
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M6D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1375
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
3365429
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
5.27
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y7M6D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1375
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1530910
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.04
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y6M
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3365429
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20549338
CY2023Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
24617626
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
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 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 Three
BaseAnnualRentToBePaidYearThree
250000
CY2021Q4 armp Maximum Allowance For Tenant Improvements Receivable
MaximumAllowanceForTenantImprovementsReceivable
7300000
CY2022Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.118
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
37000000.0
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
33800000
CY2021Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
5000000.0

Files In Submission

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armp-20230331_pre.xml Edgar Link unprocessable
armp-20230331_def.xml Edgar Link unprocessable
0001558370-23-009372-index-headers.html Edgar Link pending
0001558370-23-009372-index.html Edgar Link pending
0001558370-23-009372.txt Edgar Link pending
0001558370-23-009372-xbrl.zip Edgar Link pending
armp-20230331.xsd Edgar Link pending
armp-20230331x10q.htm Edgar Link pending
armp-20230331x10q001.jpg Edgar Link pending
armp-20230331xex31d1.htm Edgar Link pending
armp-20230331xex31d2.htm Edgar Link pending
armp-20230331xex32d1.htm Edgar Link pending
armp-20230331xex32d2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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armp-20230331_cal.xml Edgar Link unprocessable
armp-20230331_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
armp-20230331x10q_htm.xml Edgar Link completed
R36.htm Edgar Link pending
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