2023 Q2 Form 10-Q Financial Statement

#000152013823000227 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.620M $2.520M $3.362M
YoY Change -22.08% 19.2% 2762.77%
% of Gross Profit
Research & Development $8.300M $11.20M $5.873M
YoY Change 41.33% 213.01% -95.53%
% of Gross Profit
Depreciation & Amortization $57.35K $57.34K $57.35K
YoY Change 0.0% 0.0% -3.42%
% of Gross Profit
Operating Expenses $10.98M $13.77M $9.292M
YoY Change 18.13% 139.61% -92.94%
Operating Profit -$13.77M
YoY Change 139.61%
Interest Expense $1.865M $1.083M $1.203M
YoY Change 55.01% -183.82% 15813.89%
% of Operating Profit
Other Income/Expense, Net -$1.267M
YoY Change
Pretax Income -$9.112M -$15.04M -$8.089M
YoY Change 12.65% 113.63% -93.85%
Income Tax
% Of Pretax Income
Net Earnings -$9.112M -$15.04M -$8.089M
YoY Change 12.65% 113.63% -93.85%
Net Earnings / Revenue
Basic Earnings Per Share -$0.43
Diluted Earnings Per Share -$0.25 -$0.43 -$323.8K
COMMON SHARES
Basic Shares Outstanding 36.28M shares 34.99M shares
Diluted Shares Outstanding 35.33M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $33.94M $43.80M $18.64M
YoY Change 82.06% 78.72% 313.19%
Cash & Equivalents $19.46M $31.28M $18.64M
Short-Term Investments $14.48M $12.52M
Other Short-Term Assets $102.5K $249.8K $137.9K
YoY Change -25.64% -12.35% 47.48%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $34.04M $44.05M $18.78M
YoY Change 81.27% 77.67% 307.8%
LONG-TERM ASSETS
Property, Plant & Equipment $80.79K $90.55K $118.3K
YoY Change -31.68% -28.76%
Goodwill $345.7K $345.7K $345.7K
YoY Change 0.0% 0.0%
Intangibles $637.1K $694.4K $866.5K
YoY Change -26.47% -20.93%
Long-Term Investments
YoY Change
Other Assets $4.562K $4.562K
YoY Change
Total Long-Term Assets $1.064M $1.135M $1.335M
YoY Change -20.33% -18.71% -7.39%
TOTAL ASSETS
Total Short-Term Assets $34.04M $44.05M $18.78M
Total Long-Term Assets $1.064M $1.135M $1.335M
Total Assets $35.10M $45.18M $20.11M
YoY Change 74.52% 72.53% 232.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.476M $4.839M $2.443M
YoY Change 42.31% 301.15% 145.17%
Accrued Expenses $44.91K $43.31K $38.88K
YoY Change 15.51% 48.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.105M $6.391M
YoY Change
Total Short-Term Liabilities $14.49M $16.00M $4.169M
YoY Change 247.66% 270.7% 318.44%
LONG-TERM LIABILITIES
Long-Term Debt $5.227M $7.406M $12.14M
YoY Change -56.94% -36.3%
Other Long-Term Liabilities $48.39K
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $48.39K
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.49M $16.00M $4.169M
Total Long-Term Liabilities $0.00 $0.00 $48.39K
Total Liabilities $19.76M $23.46M $16.44M
YoY Change 20.19% 44.54% 1550.36%
SHAREHOLDERS EQUITY
Retained Earnings -$301.2M -$292.1M -$251.0M
YoY Change 20.02% 11.6%
Common Stock $316.4M $313.8M $254.6M
YoY Change 24.25% 10.74%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.00 $2.00
YoY Change
Treasury Stock Shares
Shareholders Equity $15.34M $21.72M $3.671M
YoY Change
Total Liabilities & Shareholders Equity $35.10M $45.18M $20.11M
YoY Change 74.52% 72.53% 232.65%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q2
OPERATING ACTIVITIES
Net Income -$9.112M -$15.04M -$8.089M
YoY Change 12.65% 113.63% -93.85%
Depreciation, Depletion And Amortization $57.35K $57.34K $57.35K
YoY Change 0.0% 0.0% -3.42%
Cash From Operating Activities -$11.29M -$11.74M -$5.865M
YoY Change 92.45% 99.42% -16.37%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.796M -$12.50M
YoY Change
Cash From Investing Activities -$1.796M -$12.50M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.268M 9.768M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -11.29M -11.74M -5.865M
Cash From Investing Activities -1.796M -12.50M
Cash From Financing Activities 1.268M 9.768M 0.000
Net Change In Cash -11.82M -14.47M -5.865M
YoY Change 101.45% 145.93% -14.32%
FREE CASH FLOW
Cash From Operating Activities -$11.29M -$11.74M -$5.865M
Capital Expenditures
Free Cash Flow
YoY Change

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bivi Accretions Of Loan Premium
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CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2022Q4 bivi Total Compensation Cost
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CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
13000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
23000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
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us-gaap Operating Lease Cost
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CY2023Q1 us-gaap Operating Lease Right Of Use Asset
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CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2022Q2 us-gaap Operating Lease Liability Current
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CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2022Q2 us-gaap Operating Lease Liability
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bivi Schedule Of Future Estimated Minimum Lease Payments Under Non Cancelable Operating Leases
ScheduleOfFutureEstimatedMinimumLeasePaymentsUnderNonCancelableOperatingLeases
<table cellpadding="0" cellspacing="0" id="xdx_894_ecustom--ScheduleOfFutureEstimatedMinimumLeasePaymentsUnderNonCancelableOperatingLeases_z98Z9bQKXp1h" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Leases (Details 1)"> <tr style="vertical-align: bottom"> <td> <span id="xdx_8B3_zi3puo7fCS4e" style="display: none">Schedule of future estimated minimum lease payments under non-cancelable operating leases</span></td><td> </td> <td colspan="2" id="xdx_49A_20230331_zaeDvXSRPJDb" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Year ending June 30, 2023 (Remaining 3 months)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">12,900</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: bottom; text-align: left">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,156</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left; padding-bottom: 1.5pt">2025</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">44,636</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109,692</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayment_iNI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less amount representing interest</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(11,913</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--OperatingLeaseLiability_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Present value of future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97,779</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_pp0p0_di_z3rl9Ktxq4Q4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less current portion of operating lease liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(43,314</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 3.5pt">Operating lease liabilities, net of current portion</td><td style="padding-bottom: 3.5pt"> </td> <td style="border-bottom: Black 3.5pt double; text-align: left">$</td><td style="border-bottom: Black 3.5pt double; text-align: right">54,465</td><td style="padding-bottom: 3.5pt; text-align: left"> </td></tr> </table>
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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52156 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
44636 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
109692 usd
CY2023Q1 bivi Capital Leases Future Minimum Payments Interest Included In Payment
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayment
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CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
97779 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
43314 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
54465 usd
bivi Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
12650 usd
bivi Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
37700 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y9M18D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1075 pure
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1075 pure
CY2023Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
16000 usd
CY2022Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
28700 usd
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
80100 usd
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
75100 usd

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