2022 Q1 Form 10-Q Financial Statement

#000162828022012614 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $74.00K $72.00K
YoY Change 2.78% 5.88%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.940M $2.235M
YoY Change 76.29% 50.4%
% of Gross Profit
Research & Development $7.208M $3.279M
YoY Change 119.82% 21.18%
% of Gross Profit
Depreciation & Amortization $31.00K $119.0K
YoY Change -73.95% 0.0%
% of Gross Profit
Operating Expenses $11.15M $5.514M
YoY Change 102.18% 31.54%
Operating Profit -$11.07M -$5.442M
YoY Change 103.49% 31.96%
Interest Expense $130.0K $260.0K
YoY Change -50.0% 550.0%
% of Operating Profit
Other Income/Expense, Net $81.00K $263.0K
YoY Change -69.2% -8866.67%
Pretax Income -$10.99M -$5.180M
YoY Change 112.22% 26.65%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$10.99M -$5.179M
YoY Change 112.26% 26.66%
Net Earnings / Revenue -14855.41% -7193.06%
Basic Earnings Per Share -$0.25 -$0.14
Diluted Earnings Per Share -$0.25 -$0.14
COMMON SHARES
Basic Shares Outstanding 43.23M shares 37.16M shares
Diluted Shares Outstanding 43.23M shares 37.16M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $114.5M $125.6M
YoY Change -8.87% 1250.54%
Cash & Equivalents $20.05M $14.66M
Short-Term Investments $94.41M $110.9M
Other Short-Term Assets $5.997M $2.700M
YoY Change 122.11% 200.0%
Inventory
Prepaid Expenses $5.997M $2.744M
Receivables $447.0K $242.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $135.8M $128.6M
YoY Change 5.63% 1150.33%
LONG-TERM ASSETS
Property, Plant & Equipment $550.0K $504.0K
YoY Change 9.13% -33.55%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $188.0K $238.0K
YoY Change -21.01% 52.2%
Total Long-Term Assets $3.398M $1.003M
YoY Change 238.78% -34.55%
TOTAL ASSETS
Total Short-Term Assets $135.8M $128.6M
Total Long-Term Assets $3.398M $1.003M
Total Assets $139.2M $129.6M
YoY Change 7.43% 996.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.261M $803.0K
YoY Change 57.04% 34.06%
Accrued Expenses $4.738M $2.999M
YoY Change 57.99% -12.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.664M $4.479M
YoY Change 48.78% -8.24%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.438M $191.0K
YoY Change 1176.44% 37.37%
Total Long-Term Liabilities $2.438M $191.0K
YoY Change 1176.44% 37.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.664M $4.479M
Total Long-Term Liabilities $2.438M $191.0K
Total Liabilities $9.102M $4.756M
YoY Change 91.38% -16.15%
SHAREHOLDERS EQUITY
Retained Earnings -$270.8M -$236.7M
YoY Change 14.42% 11.12%
Common Stock $4.000K $4.000K
YoY Change 0.0% -53.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $130.1M $124.8M
YoY Change
Total Liabilities & Shareholders Equity $139.2M $129.6M
YoY Change 7.43% 996.64%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$10.99M -$5.179M
YoY Change 112.26% 26.66%
Depreciation, Depletion And Amortization $31.00K $119.0K
YoY Change -73.95% 0.0%
Cash From Operating Activities -$10.25M -$5.884M
YoY Change 74.18% 74.39%
INVESTING ACTIVITIES
Capital Expenditures $171.0K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $18.53M -$111.7M
YoY Change -116.59%
Cash From Investing Activities $18.36M -$111.7M
YoY Change -116.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 $1.263M
YoY Change -100.0% -48.57%
NET CHANGE
Cash From Operating Activities -$10.25M -$5.884M
Cash From Investing Activities $18.36M -$111.7M
Cash From Financing Activities $0.00 $1.263M
Net Change In Cash $8.109M -$116.3M
YoY Change -106.97% 12570.92%
FREE CASH FLOW
Cash From Operating Activities -$10.25M -$5.884M
Capital Expenditures $171.0K $0.00
Free Cash Flow -$10.42M -$5.884M
YoY Change 77.09% 74.39%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8109000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-116319000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11943000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
130981000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20052000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14662000 USD
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
1000 USD
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
27000 USD
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 USD
CY2022Q1 crdf Preferred Stock Dividend Accrued
PreferredStockDividendAccrued
6000 USD
CY2021Q1 crdf Preferred Stock Dividend Accrued
PreferredStockDividendAccrued
6000 USD
CY2022Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
129400000 USD
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11300897 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9025380 shares
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
5000 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Amortized Cost Current
DebtSecuritiesAvailableForSaleAmortizedCostCurrent
94906000 USD
CY2022Q1 crdf Debt Securities Available For Sale Accumulated Gross Unrealized Gain Before Tax Current
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainBeforeTaxCurrent
5000 USD
CY2022Q1 crdf Debt Securities Available For Sale Accumulated Gross Unrealized Loss Before Tax Current
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxCurrent
501000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
94410000 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Amortized Cost Noncurrent
DebtSecuritiesAvailableForSaleAmortizedCostNoncurrent
15152000 USD
CY2022Q1 crdf Debt Securities Available For Sale Accumulated Gross Unrealized Gain Before Tax Noncurrent
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainBeforeTaxNoncurrent
0 USD
CY2022Q1 crdf Debt Securities Available For Sale Accumulated Gross Unrealized Loss Before Tax Noncurrent
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxNoncurrent
252000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
14900000 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
110058000 USD
CY2021Q4 crdf Debt Securities Available For Sale Accumulated Gross Unrealized Gain Before Tax Current
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainBeforeTaxCurrent
6000 USD
CY2021Q4 crdf Debt Securities Available For Sale Accumulated Gross Unrealized Loss Before Tax Current
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxCurrent
65000 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
753000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
109310000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Amortized Cost Current
DebtSecuritiesAvailableForSaleAmortizedCostCurrent
95643000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
95584000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Amortized Cost Noncurrent
DebtSecuritiesAvailableForSaleAmortizedCostNoncurrent
33377000 USD
CY2021Q4 crdf Debt Securities Available For Sale Accumulated Gross Unrealized Gain Before Tax Noncurrent
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainBeforeTaxNoncurrent
1000 USD
CY2021Q4 crdf Debt Securities Available For Sale Accumulated Gross Unrealized Loss Before Tax Noncurrent
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxNoncurrent
84000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
33294000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
129020000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
7000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
149000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
128878000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3441000 USD
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4022000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3823000 USD
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3472000 USD
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
550000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
382000 USD
CY2022Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
878000 USD
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1435000 USD
CY2022Q1 crdf Accrued Preferred Stock Dividend
AccruedPreferredStockDividend
420000 USD
CY2021Q4 crdf Accrued Preferred Stock Dividend
AccruedPreferredStockDividend
414000 USD
CY2022Q1 crdf Lessee Operating Lease Annual Rent Increase Percentage
LesseeOperatingLeaseAnnualRentIncreasePercentage
0.03
CY2022Q1 crdf Accrued Clinical Trial
AccruedClinicalTrial
2110000 USD
CY2021Q4 crdf Accrued Clinical Trial
AccruedClinicalTrial
1639000 USD
CY2022Q1 crdf Accrued Research Agreements
AccruedResearchAgreements
992000 USD
CY2021Q4 crdf Accrued Research Agreements
AccruedResearchAgreements
726000 USD
CY2022Q1 crdf Accrued Director Fees
AccruedDirectorFees
141000 USD
CY2021Q4 crdf Accrued Director Fees
AccruedDirectorFees
141000 USD
CY2022Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
53000 USD
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
63000 USD
CY2022Q1 crdf Patent License And Other Fees Payable
PatentLicenseAndOtherFeesPayable
75000 USD
CY2021Q4 crdf Patent License And Other Fees Payable
PatentLicenseAndOtherFeesPayable
43000 USD
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
69000 USD
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
66000 USD
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4738000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4527000 USD
CY2022Q1 crdf Lessee Operating Lease Area Of Lease
LesseeOperatingLeaseAreaOfLease
12300 sqft
CY2022Q1 crdf Lessee Operating Lease Monthly Rent Payment
LesseeOperatingLeaseMonthlyRentPayment
60000 USD
CY2022Q1 crdf Lessor Number Of Subleases
LessorNumberOfSubleases
3 lease
CY2022Q1 crdf Lessor Area Of Sublease
LessorAreaOfSublease
16600 sqft
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
191000 USD
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
95000 USD
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
0 USD
CY2021Q1 us-gaap Sublease Income
SubleaseIncome
101000 USD
CY2022Q1 us-gaap Lease Cost
LeaseCost
191000 USD
CY2021Q1 us-gaap Lease Cost
LeaseCost
-6000 USD
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2660000 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2796000 USD
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2438000 USD
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2568000 USD
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
665000 USD
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
551000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3103000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3119000 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y10M24D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y2M12D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.070
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.070
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
70000 USD
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
240000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
480000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
737000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
754000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
775000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
796000 USD
CY2022Q1 crdf Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
137000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3679000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
576000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3103000 USD
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1152000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
268000 USD
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1000 USD
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
24000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
3150000 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
4490159 shares
CY2021Q4 crdf Class Of Warrant Or Right Weighted Average Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightWeightedAverageExercisePriceOfWarrantsOrRights
5.80
CY2021 crdf Class Of Warrant Or Right Term Of Outstanding Warrants Or Rights
ClassOfWarrantOrRightTermOfOutstandingWarrantsOrRights
P3Y
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
4490159 shares
CY2022Q1 crdf Class Of Warrant Or Right Weighted Average Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightWeightedAverageExercisePriceOfWarrantsOrRights
5.80
CY2022Q1 crdf Class Of Warrant Or Right Term Of Outstanding Warrants Or Rights
ClassOfWarrantOrRightTermOfOutstandingWarrantsOrRights
P2Y8M12D

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