2016 Q2 Form 10-Q Financial Statement

#000111748016000045 Filed on May 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q1
Revenue $1.841M $1.228M $1.238M
YoY Change -55.56% -0.81% 58.72%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.610M $6.920M $6.123M
YoY Change -9.85% 13.02% 129.15%
% of Gross Profit
Research & Development $13.76M $20.94M $17.44M
YoY Change -37.06% 20.02% 110.37%
% of Gross Profit
Depreciation & Amortization $260.0K $267.0K $114.0K
YoY Change 73.33% 134.21% 128.0%
% of Gross Profit
Operating Expenses $20.37M $27.86M $23.57M
YoY Change -30.0% 18.22% 114.95%
Operating Profit -$18.53M -$26.63M -$22.33M
YoY Change -25.75% 19.27% 119.26%
Interest Expense $380.0K $370.0K $60.00K
YoY Change 171.43% 516.67% -130.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$18.15M -$26.26M -$22.27M
YoY Change -26.87% 17.92% 114.55%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$18.15M -$26.26M -$22.27M
YoY Change -26.87% 17.94% 114.51%
Net Earnings / Revenue -985.77% -2138.44% -1798.55%
Basic Earnings Per Share
Diluted Earnings Per Share -$392.8K -$568.6K -$532.1K
COMMON SHARES
Basic Shares Outstanding 46.21M shares 46.18M shares 41.09M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $272.8M $263.3M $174.5M
YoY Change 5.61% 50.89% 74.67%
Cash & Equivalents $32.06M $27.50M $55.61M
Short-Term Investments $240.8M $235.8M $118.9M
Other Short-Term Assets $4.800M $4.900M $1.800M
YoY Change -44.83% 172.22% 28.57%
Inventory
Prepaid Expenses
Receivables $313.0K $566.0K $977.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $277.9M $268.8M $177.3M
YoY Change 3.19% 51.64% 74.3%
LONG-TERM ASSETS
Property, Plant & Equipment $3.020M $3.006M $1.329M
YoY Change 51.3% 126.19% 232.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $29.80M $52.40M $95.20M
YoY Change -80.15% -44.96%
Other Assets $93.00K $64.00K $297.0K
YoY Change 16.25% -78.45%
Total Long-Term Assets $32.92M $55.43M $96.87M
YoY Change -78.38% -42.77% 19273.0%
TOTAL ASSETS
Total Short-Term Assets $277.9M $268.8M $177.3M
Total Long-Term Assets $32.92M $55.43M $96.87M
Total Assets $310.8M $324.2M $274.1M
YoY Change -26.26% 18.28% 168.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.217M $3.568M $6.920M
YoY Change -57.05% -48.44% 284.44%
Accrued Expenses $6.311M $6.638M $6.630M
YoY Change -41.34% 0.12% 248.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.900M
YoY Change -48.21%
Total Short-Term Liabilities $10.53M $10.21M $16.44M
YoY Change -52.28% -37.93% 76.8%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $200.0K
YoY Change -100.0% -100.0% -93.1%
Other Long-Term Liabilities $300.0K $300.0K $161.0K
YoY Change 123.88% 86.34% -59.75%
Total Long-Term Liabilities $300.0K $300.0K $161.0K
YoY Change 123.88% 86.34% -95.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.53M $10.21M $16.44M
Total Long-Term Liabilities $300.0K $300.0K $161.0K
Total Liabilities $10.83M $10.54M $16.60M
YoY Change -51.19% -36.54% 32.82%
SHAREHOLDERS EQUITY
Retained Earnings -$383.8M -$365.7M -$244.3M
YoY Change 42.62% 49.68%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $300.0M $313.7M $257.5M
YoY Change
Total Liabilities & Shareholders Equity $310.8M $324.2M $274.1M
YoY Change -26.26% 18.28% 168.22%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$18.15M -$26.26M -$22.27M
YoY Change -26.87% 17.94% 114.51%
Depreciation, Depletion And Amortization $260.0K $267.0K $114.0K
YoY Change 73.33% 134.21% 128.0%
Cash From Operating Activities -$12.55M -$28.64M -$18.84M
YoY Change -45.48% 52.0% 106.66%
INVESTING ACTIVITIES
Capital Expenditures -$270.0K $232.0K $133.0K
YoY Change -67.07% 74.44% 34.34%
Acquisitions
YoY Change
Other Investing Activities $17.36M $35.60M -$54.59M
YoY Change -126.64% -165.21% -12.85%
Cash From Investing Activities $17.09M $35.37M -$54.72M
YoY Change -125.9% -164.63% -12.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 20.00K $166.0K $701.0K
YoY Change -99.99% -76.32% -200.14%
NET CHANGE
Cash From Operating Activities -12.55M -$28.64M -$18.84M
Cash From Investing Activities 17.09M $35.37M -$54.72M
Cash From Financing Activities 20.00K $166.0K $701.0K
Net Change In Cash 4.560M $6.898M -$72.86M
YoY Change -93.68% -109.47% 0.42%
FREE CASH FLOW
Cash From Operating Activities -$12.55M -$28.64M -$18.84M
Capital Expenditures -$270.0K $232.0K $133.0K
Free Cash Flow -$12.28M -$28.87M -$18.97M
YoY Change -44.68% 52.16% 105.88%

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CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2016Q1 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6071000 USD
CY2016Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4904000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
461000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
33000 USD
CY2015Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
36352000 USD
CY2016Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
35599000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
1003000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
0 USD
CY2015Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
665000 USD
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
133000 USD
CY2015Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1000000 USD
CY2016Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3045000 USD
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3006000 USD
CY2015Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
1425000 USD
CY2016Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
0 USD
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17444000 USD
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20936000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-339414000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-365674000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2402000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3915000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
335459000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
313701000 USD
CY2016Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
41220989 shares
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46184134 shares

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