$ARMP
Armata Pharmaceuticals, Inc.

2023 Q4 Form 10-Q Financial Statement

#000155837023019036 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $1.528M $1.230M $1.338M
YoY Change 45.39% -8.07% 6.95%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.179M $3.580M $1.561M
YoY Change 75.64% 129.34% -11.71%
% of Gross Profit
Research & Development $7.928M $7.978M $8.400M
YoY Change -17.15% -5.02% 49.31%
% of Gross Profit
Depreciation & Amortization $292.0K $200.0K $200.0K
YoY Change 19.18% 0.0% -33.33%
% of Gross Profit
Operating Expenses $11.11M $11.56M $9.961M
YoY Change -2.39% 16.06% 34.72%
Operating Profit -$10.34M -$8.623M
YoY Change 19.87% 40.37%
Interest Expense -$10.27M $1.176M $9.000K
YoY Change -73442.86% 12966.67% 350.0%
% of Operating Profit
Other Income/Expense, Net -$20.83M $9.000K
YoY Change -231488.89% -98.76%
Pretax Income -$19.85M -$31.16M -$8.614M
YoY Change 92.43% 261.74% 58.96%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$19.85M -$31.16M -$8.614M
YoY Change 92.43% 261.75% 58.96%
Net Earnings / Revenue -1298.89% -2533.41% -643.8%
Basic Earnings Per Share -$0.86 -$0.24
Diluted Earnings Per Share -$0.55 -$0.86 -$0.24
COMMON SHARES
Basic Shares Outstanding 36.15M 36.13M 36.14M
Diluted Shares Outstanding 36.09M 36.04M

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.52M $24.00M $25.38M
YoY Change -8.95% -5.44% 110.19%
Cash & Equivalents $13.50M $24.00M $25.40M
Short-Term Investments
Other Short-Term Assets $3.363M $8.497M $7.863M
YoY Change -72.42% 8.06% 823.97%
Inventory
Prepaid Expenses $4.130M
Receivables
Other Receivables $3.363M $8.497M
Total Short-Term Assets $19.15M $36.59M $33.25M
YoY Change -29.19% 10.05% 134.48%
LONG-TERM ASSETS
Property, Plant & Equipment $12.56M $9.250M $4.340M
YoY Change 247.22% 113.13% 105.98%
Goodwill $3.490M $3.490M $3.490M
YoY Change 0.0% 0.0% 0.0%
Intangibles $10.26M $10.26M $10.26M
YoY Change 0.0% 0.0% 0.0%
Long-Term Investments
YoY Change
Other Assets $2.470M $2.470M $953.0K
YoY Change 1.69% 159.18% 4.84%
Total Long-Term Assets $79.21M $76.18M $59.64M
YoY Change 15.16% 27.73% 109.3%
TOTAL ASSETS
Total Short-Term Assets $19.15M $36.59M $33.25M
Total Long-Term Assets $79.21M $76.18M $59.64M
Total Assets $98.36M $112.8M $92.88M
YoY Change 2.64% 21.4% 117.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.585M $3.772M $2.977M
YoY Change -5.54% 26.7% 64.38%
Accrued Expenses $11.33M $16.20M $4.027M
YoY Change -44.84% 302.28% 16.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.46M $21.88M $7.004M
YoY Change -33.82% 212.45% 33.31%
LONG-TERM LIABILITIES
Long-Term Debt $82.31M $72.00M $0.00
YoY Change
Other Long-Term Liabilities $28.58M $28.20M $37.22M
YoY Change -10.13% -24.24% 251.66%
Total Long-Term Liabilities $110.9M $100.2M $37.22M
YoY Change 248.67% 169.19% 251.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.46M $21.88M $7.004M
Total Long-Term Liabilities $110.9M $100.2M $37.22M
Total Liabilities $130.4M $125.1M $47.30M
YoY Change 118.27% 164.56% 150.07%
SHAREHOLDERS EQUITY
Retained Earnings -$308.8M -$289.0M -$229.5M
YoY Change 28.79% 25.95% 16.59%
Common Stock $361.0K $361.0K $361.0K
YoY Change 0.0% 0.0% 44.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$32.07M -$12.39M $45.58M
YoY Change
Total Liabilities & Shareholders Equity $98.36M $112.8M $92.88M
YoY Change 2.64% 21.4% 117.67%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$19.85M -$31.16M -$8.614M
YoY Change 92.43% 261.75% 58.96%
Depreciation, Depletion And Amortization $292.0K $200.0K $200.0K
YoY Change 19.18% 0.0% -33.33%
Cash From Operating Activities -$8.103M -$9.690M -$10.33M
YoY Change -22.72% -6.22% 108.16%
INVESTING ACTIVITIES
Capital Expenditures $2.404M $3.510M -$1.294M
YoY Change -628.35% -371.25% 122.34%
Acquisitions
YoY Change
Other Investing Activities $10.00K
YoY Change
Cash From Investing Activities -$2.394M -$3.510M -$1.294M
YoY Change -626.15% 171.25% 122.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -42.00K 24.80M 31.00K
YoY Change -91.6% 79900.0% -63.95%
NET CHANGE
Cash From Operating Activities -8.103M -9.690M -10.33M
Cash From Investing Activities -2.394M -3.510M -1.294M
Cash From Financing Activities -42.00K 24.80M 31.00K
Net Change In Cash -10.54M 11.60M -11.60M
YoY Change 0.09% -200.03% 112.38%
FREE CASH FLOW
Cash From Operating Activities -$8.103M -$9.690M -$10.33M
Capital Expenditures $2.404M $3.510M -$1.294M
Free Cash Flow -$10.51M -$13.20M -$9.039M
YoY Change 4.76% 46.03% 106.28%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20812000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11488000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29782000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31342000
us-gaap Contribution Of Property
ContributionOfProperty
1047000
us-gaap Contribution Of Property
ContributionOfProperty
101000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2513000
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23958000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25382000
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
5824000
CY2022Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
5960000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29782000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31342000
CY2023Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
500000
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
500000
CY2022Q3 armp Construction In Progress And Fixed Assets Not In Use Included In Laboratory And Manufacturing Equipment
ConstructionInProgressAndFixedAssetsNotInUseIncludedInLaboratoryAndManufacturingEquipment
1000000.0
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-289000000.0
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
24000000.0
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 condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of expenses during the reporting period. On an ongoing basis, the Company evaluates estimates and assumptions, including but not limited to those related to the convertible debt, stock-based compensation expense, accruals for research and development costs, lease liabilities and right of use assets, the valuation of deferred tax assets, valuation of uncertain income tax positions, impairment of goodwill and intangible assets and impairment of long-lived assets. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from those estimates.</p>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23527489
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24064166
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
21019000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14720000
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11769000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11103000
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9250000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3617000
CY2022Q3 us-gaap Depreciation
Depreciation
200000
CY2023Q3 us-gaap Depreciation
Depreciation
200000
us-gaap Depreciation
Depreciation
700000
us-gaap Depreciation
Depreciation
600000
CY2023Q3 armp Construction In Progress And Fixed Assets Not In Use Included In Laboratory And Manufacturing Equipment
ConstructionInProgressAndFixedAssetsNotInUseIncludedInLaboratoryAndManufacturingEquipment
9300000
CY2023Q3 armp Tenant Improvement Receivable Current
TenantImprovementReceivableCurrent
7272000
CY2022Q4 armp Tenant Improvement Receivable Current
TenantImprovementReceivableCurrent
6595000
CY2023Q3 armp Awards Receivable Current
AwardsReceivableCurrent
1225000
CY2022Q4 armp Awards Receivable Current
AwardsReceivableCurrent
1936000
CY2023Q3 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
8497000
CY2022Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
8531000
CY2023Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
3772000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1678000
CY2023Q3 armp Accrued Liabilities Clinical Trial
AccruedLiabilitiesClinicalTrial
1879000
CY2022Q4 armp Accrued Liabilities Clinical Trial
AccruedLiabilitiesClinicalTrial
2650000
CY2023Q3 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
1049000
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
1706000
CY2023Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
6700000
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
6034000
armp Term Of Warrant
TermOfWarrant
P5Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y2M12D
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20549338
CY2023Q3 armp Share Based Payment Arrangement Expense Reversed
ShareBasedPaymentArrangementExpenseReversed
600000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
-373000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
846000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
745000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2288000
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
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
17500
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.36
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1500
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.15
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
455503
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.16
armp Share Based Compensation Arrangement By Share Based Payment Award Options Forfeited In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitedInPeriodIntrinsicValue
1000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2913300
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.33
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y9M18D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
45000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2913300
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
5.33
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P5Y9M18D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
45000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2136125
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.53
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2913300
CY2023Q3 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
9748
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20549338
CY2023Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
26363528
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q3 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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FilingSummary.xml Edgar Link unprocessable
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0001558370-23-019036-index.html Edgar Link pending
0001558370-23-019036.txt Edgar Link pending
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armp-20230930.xsd Edgar Link pending
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armp-20230930xex31d1.htm Edgar Link pending
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armp-20230930_cal.xml Edgar Link unprocessable
armp-20230930_def.xml Edgar Link unprocessable
armp-20230930_lab.xml Edgar Link unprocessable
armp-20230930x10q_htm.xml Edgar Link completed
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