$BCDA
BioCardia, Inc.

2022 Q1 Form 10-Q Financial Statement

#000143774922011905 Filed on May 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $60.00K $46.00K
YoY Change 30.43% 21.05%
Cost Of Revenue
YoY Change
Gross Profit $46.00K
YoY Change 35.29%
Gross Profit Margin 100.0%
Selling, General & Admin $1.201M $1.177M
YoY Change 2.04% -36.62%
% of Gross Profit 2558.7%
Research & Development $2.186M $1.841M
YoY Change 18.74% -33.92%
% of Gross Profit 4002.17%
Depreciation & Amortization $16.00K $14.00K
YoY Change 14.29% -36.36%
% of Gross Profit 30.43%
Operating Expenses $3.387M $3.018M
YoY Change 12.23% -35.0%
Operating Profit -$3.327M -$2.972M
YoY Change 11.94% -35.52%
Interest Expense $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net $2.000K $3.000K
YoY Change -33.33% -80.0%
Pretax Income -$3.325M -$2.970M
YoY Change 11.95% -35.29%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.325M -$2.969M
YoY Change 11.99% -35.37%
Net Earnings / Revenue -5541.67% -6454.35%
Basic Earnings Per Share -$0.19 -$0.18
Diluted Earnings Per Share -$194.8K -$179.2K
COMMON SHARES
Basic Shares Outstanding 17.07M 16.57M
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.930M $21.50M
YoY Change -53.81% 730.12%
Cash & Equivalents $9.900M $21.50M
Short-Term Investments
Other Short-Term Assets $405.0K $340.0K
YoY Change 19.12% -24.44%
Inventory
Prepaid Expenses
Receivables $326.0K $190.0K
Other Receivables $0.00 $620.0K
Total Short-Term Assets $10.66M $22.66M
YoY Change -52.95% 603.91%
LONG-TERM ASSETS
Property, Plant & Equipment $195.0K $164.0K
YoY Change 18.9% 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $172.0K $53.00K
YoY Change 224.53% -1.85%
Total Long-Term Assets $2.179M $649.0K
YoY Change 235.75% -44.29%
TOTAL ASSETS
Total Short-Term Assets $10.66M $22.66M
Total Long-Term Assets $2.179M $649.0K
Total Assets $12.84M $23.31M
YoY Change -44.91% 431.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $764.0K $850.0K
YoY Change -10.12% -23.29%
Accrued Expenses $34.00K $240.0K
YoY Change -85.83% 142.42%
Deferred Revenue $948.0K $1.180M
YoY Change -19.66% 1034.62%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.913M $4.750M
YoY Change -17.62% 5.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.558M
YoY Change
Total Long-Term Liabilities $1.558M $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.913M $4.750M
Total Long-Term Liabilities $1.558M $0.00
Total Liabilities $5.471M $4.746M
YoY Change 15.28% -16.25%
SHAREHOLDERS EQUITY
Retained Earnings -$132.0M -$119.0M
YoY Change 10.88% 12.66%
Common Stock $17.00K $17.00K
YoY Change 0.0% 142.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.369M $18.56M
YoY Change
Total Liabilities & Shareholders Equity $12.84M $23.31M
YoY Change -44.91% 431.66%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$3.325M -$2.969M
YoY Change 11.99% -35.37%
Depreciation, Depletion And Amortization $16.00K $14.00K
YoY Change 14.29% -36.36%
Cash From Operating Activities -$2.913M -$1.883M
YoY Change 54.7% -37.09%
INVESTING ACTIVITIES
Capital Expenditures $29.00K $27.00K
YoY Change 7.41% 440.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$29.00K -$27.00K
YoY Change 7.41% 440.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $2.000M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 $2.005M
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -$2.913M -$1.883M
Cash From Investing Activities -$29.00K -$27.00K
Cash From Financing Activities $0.00 $2.005M
Net Change In Cash -$2.942M $95.00K
YoY Change -3196.84% -103.17%
FREE CASH FLOW
Cash From Operating Activities -$2.913M -$1.883M
Capital Expenditures $29.00K $27.00K
Free Cash Flow -$2.942M -$1.910M
YoY Change 54.03% -36.29%

Facts In Submission

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<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;"><tbody><tr style="vertical-align: top;"><td style="width: 45pt;"/><td style="width: 18pt;"> <p style="font-family: Times New Roman;font-size: 10pt;font-variant:normal;margin:0pt;"><b><i>(c)</i></b></p> </td><td style="width: auto;"> <p style="font-family: Times New Roman;font-size: 10pt;font-variant:normal;margin:0pt;"><b><i>Use of Estimates</i></b></p> </td></tr> <tr style="vertical-align: top;"><td style="width: 45pt;"> </td><td style="width: 18pt;"> </td><td style="width: auto;"> <p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt;"> </p> </td></tr> <tr style="vertical-align: top;"><td style="width: 45pt;"> </td><td style="width: 18pt;"> </td><td style="width: auto;"> <p style="font-family: Times New Roman;font-size: 10pt;font-variant:normal;text-align:justify;margin:0pt;">The preparation of the financial statements in accordance with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from those estimates. Significant items subject to such estimates and assumptions include share-based compensation, the useful lives of property and equipment, right-of-use assets and related liabilities, incremental borrowing rate, allowances for doubtful accounts and sales returns, clinical accruals and assumptions used for revenue recognition.</p> </td></tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
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217
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P7Y7M6D
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795547
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6.46
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P6Y2M12D
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4046556
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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3519732
CY2022Q1 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;"> <tbody> <tr style="vertical-align: top;"> <td style="width: 36pt;"> <p style="font-family: Times New Roman;font-size: 10pt;font-variant:normal;margin:0pt;"><b>(<em style="font: inherit;">12</em>)</b></p> </td> <td style="width: auto;"> <p style="font-family: Times New Roman;font-size: 10pt;font-variant:normal;margin:0pt;"><b>Contingencies and Uncertainties</b></p> </td> </tr> </tbody> </table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 54pt; text-align: justify;"><i>Contingencies</i> - The Company <em style="font: inherit;"> may </em>be subject to various claims, complaints, and legal actions that arise from time to time in the normal course of business. Management is <em style="font: inherit;">not</em> aware of any current legal or administrative proceedings that are likely to have an adverse effect on the Company’s business, financial position, results of operations, or cash flows.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 54pt;"><i>Uncertainties</i> - The results for the <em style="font: inherit;">three</em> months ended <em style="font: inherit;"> March 31, 2022 </em>are <em style="font: inherit;">not</em> necessarily indicative of the results to be expected for the year ending <em style="font: inherit;"> December 31, 2022 </em>or for any other interim period or for any other future year, particularly in light of the novel coronavirus pandemic, or COVID-<em style="font: inherit;">19,</em> and its impact on domestic and global economies. While the impact of the COVID-<em style="font: inherit;">19</em> pandemic did <em style="font: inherit;">not</em> have a material adverse effect on our financial position or results of operations for the periods presented, these governmental actions and similar actions that <em style="font: inherit;"> may </em>be enacted in the future, and the widespread economic disruption arising from the pandemic, have the potential to materially impact our business and influence our business decisions. The extent and duration of the pandemic is unknown, and the future effects on our business are uncertain and difficult to predict. The Company is continuing to monitor the events and circumstances surrounding the COVID-<em style="font: inherit;">19</em> pandemic, which <em style="font: inherit;"> may </em>require adjustments to the Company’s estimates and assumptions in the future.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>

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