2023 Q2 Form 10-Q Financial Statement

#000095017023018820 Filed on May 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $957.0K $1.226M $221.0K
YoY Change -98.14% -83.24% -97.07%
Cost Of Revenue $2.895M $216.0K
YoY Change
Gross Profit -$1.938M $1.010M
YoY Change
Gross Profit Margin -202.51% 82.38%
Selling, General & Admin $13.34M $13.83M $13.01M
YoY Change -29.12% -32.78% -40.39%
% of Gross Profit 1369.01%
Research & Development $56.14M $62.16M $62.68M
YoY Change -13.49% -17.08% -20.79%
% of Gross Profit 6154.06%
Depreciation & Amortization $900.0K $900.0K $1.255M
YoY Change -37.41% -43.43% -49.56%
% of Gross Profit 89.11%
Operating Expenses $72.37M $76.24M $75.69M
YoY Change -13.55% -20.19% -25.03%
Operating Profit -$71.41M -$75.02M
YoY Change 122.25% -14.96%
Interest Expense $1.378M $1.336M $969.0K
YoY Change 281.72% 1061.74% 1053.57%
% of Operating Profit
Other Income/Expense, Net -$10.00K -$197.0K
YoY Change -102.77% -271.3%
Pretax Income -$71.11M -$74.75M -$74.57M
YoY Change -485.07% -15.16% -20.09%
Income Tax $1.000K $22.00K $2.000K
% Of Pretax Income
Net Earnings -$71.11M -$74.77M -$74.57M
YoY Change -485.08% -15.13% -20.11%
Net Earnings / Revenue -7430.3% -6098.78% -33742.99%
Basic Earnings Per Share -$0.68 -$0.72
Diluted Earnings Per Share -$0.68 -$0.72 -$0.72
COMMON SHARES
Basic Shares Outstanding 97.97M 95.93M 94.88M
Diluted Shares Outstanding 105.1M 104.0M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $153.6M $205.4M $242.8M
YoY Change -53.63% -31.94% -34.56%
Cash & Equivalents $45.90M $48.74M $92.94M
Short-Term Investments $107.7M $156.7M $149.9M
Other Short-Term Assets $10.16M $12.89M $10.31M
YoY Change -32.4% 8.25% -17.98%
Inventory $7.861M $5.340M $1.586M
Prepaid Expenses
Receivables $507.0K $397.0K $40.22M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $172.3M $224.2M $295.1M
YoY Change -50.34% -28.69% -23.28%
LONG-TERM ASSETS
Property, Plant & Equipment $5.349M $5.852M $74.32M
YoY Change -35.77% -35.76% 38.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.575M $6.906M $7.018M
YoY Change -9.02% -87.41% 196.49%
Total Long-Term Assets $74.12M $77.90M $81.34M
YoY Change -16.85% -6.02% -2.59%
TOTAL ASSETS
Total Short-Term Assets $172.3M $224.2M $295.1M
Total Long-Term Assets $74.12M $77.90M $81.34M
Total Assets $246.4M $302.1M $376.4M
YoY Change -43.49% -23.96% -19.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.138M $5.068M $6.871M
YoY Change -67.67% -57.57% -60.44%
Accrued Expenses $10.65M $6.764M $63.21M
YoY Change -66.14% -77.73% 960.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $859.0K $832.0K $834.0K
YoY Change 2.38% 387.72%
Total Short-Term Liabilities $74.55M $67.88M $78.92M
YoY Change 13.49% -33.17% -25.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $3.643M
YoY Change
Other Long-Term Liabilities $5.023M $5.177M $167.2M
YoY Change -10.72% 740.42% 11040.64%
Total Long-Term Liabilities $5.023M $5.177M $170.9M
YoY Change -10.72% 740.42% 11283.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $74.55M $67.88M $78.92M
Total Long-Term Liabilities $5.023M $5.177M $170.9M
Total Liabilities $239.0M $237.1M $249.8M
YoY Change 33.78% 132.07% 32.5%
SHAREHOLDERS EQUITY
Retained Earnings -$1.839B -$1.768B -$1.693B
YoY Change 19.85% 15.59%
Common Stock $1.847B $1.834B $1.822B
YoY Change 2.94% 4.41%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.454M $64.96M $126.6M
YoY Change
Total Liabilities & Shareholders Equity $246.4M $302.1M $376.4M
YoY Change -43.49% -23.96% -19.59%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income -$71.11M -$74.77M -$74.57M
YoY Change -485.08% -15.13% -20.11%
Depreciation, Depletion And Amortization $900.0K $900.0K $1.255M
YoY Change -37.41% -43.43% -49.56%
Cash From Operating Activities -$52.80M -$38.43M -$56.88M
YoY Change -17.46% -54.54% 65.98%
INVESTING ACTIVITIES
Capital Expenditures $499.0K $399.0K $37.00K
YoY Change -135.17% -84.68% -101.5%
Acquisitions
YoY Change
Other Investing Activities $49.98M -$5.608M $51.25M
YoY Change 50.34% -108.93% -334.49%
Cash From Investing Activities $49.48M -$6.007M $51.22M
YoY Change 55.48% -109.98% -310.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 471.0K 235.0K 32.29M
YoY Change -59.29% -98.82% -37.26%
NET CHANGE
Cash From Operating Activities -52.80M -38.43M -56.88M
Cash From Investing Activities 49.48M -6.007M 51.22M
Cash From Financing Activities 471.0K 235.0K 32.29M
Net Change In Cash -2.843M -44.20M 26.63M
YoY Change -90.82% 890.39% -473.73%
FREE CASH FLOW
Cash From Operating Activities -$52.80M -$38.43M -$56.88M
Capital Expenditures $499.0K $399.0K $37.00K
Free Cash Flow -$53.29M -$38.83M -$56.92M
YoY Change -14.79% -55.44% 78.97%

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