2024 Q2 Form 10-Q Financial Statement

#000095017024057150 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $399.0K $640.0K $2.679M
YoY Change -59.62% -76.11% -14.44%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $24.84M $20.83M $12.19M
YoY Change 86.15% 70.88% 40.01%
% of Gross Profit
Research & Development $58.34M $53.34M $38.47M
YoY Change 43.56% 38.66% 36.16%
% of Gross Profit
Depreciation & Amortization $753.0K $474.0K $283.0K
YoY Change 168.93% 67.49% 17.92%
% of Gross Profit
Operating Expenses $83.18M $74.17M $50.66M
YoY Change 54.09% 46.41% 37.07%
Operating Profit -$82.78M -$73.53M -$47.98M
YoY Change 56.21% 53.26% 41.83%
Interest Expense $8.775M $7.320M $1.983M
YoY Change -325.4% 269.14% 844.29%
% of Operating Profit
Other Income/Expense, Net $8.728M $7.069M $1.983M
YoY Change 332.94% 256.48% 844.29%
Pretax Income -$74.06M -$66.46M -$46.00M
YoY Change 45.27% 44.49% 36.82%
Income Tax
% Of Pretax Income
Net Earnings -$74.06M -$66.93M -$46.00M
YoY Change 45.27% 45.52% 32.83%
Net Earnings / Revenue -18560.15% -10457.81% -1716.87%
Basic Earnings Per Share -$0.94 -$0.93 -$0.85
Diluted Earnings Per Share -$0.94 -$0.93 -$0.85
COMMON SHARES
Basic Shares Outstanding 78.86M 69.60M 53.91M
Diluted Shares Outstanding 79.01M 72.29M 53.91M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $653.0M $601.2M $250.2M
YoY Change 214.85% 140.23% -21.73%
Cash & Equivalents $302.2M $395.9M $41.19M
Short-Term Investments $350.8M $205.2M $209.1M
Other Short-Term Assets $1.512M $3.556M $3.287M
YoY Change -45.24% 8.18% 103.28%
Inventory
Prepaid Expenses
Receivables
Other Receivables $119.0K $114.0K
Total Short-Term Assets $874.8M $917.2M $305.4M
YoY Change 207.14% 200.33% -6.96%
LONG-TERM ASSETS
Property, Plant & Equipment $12.25M $11.87M $3.266M
YoY Change 279.99% 263.29% 22.23%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00
YoY Change
Other Assets $2.202M $2.000M $2.000M
YoY Change 10.1% 0.0% 252.11%
Total Long-Term Assets $60.76M $60.93M $8.606M
YoY Change 619.55% 607.94% 70.86%
TOTAL ASSETS
Total Short-Term Assets $874.8M $917.2M $305.4M
Total Long-Term Assets $60.76M $60.93M $8.606M
Total Assets $935.5M $978.2M $314.0M
YoY Change 219.02% 211.5% -5.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.872M $10.76M $5.895M
YoY Change 83.12% 82.46% -51.42%
Accrued Expenses $42.95M $38.55M $18.31M
YoY Change 67.2% 110.59% 237.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $54.38M $51.77M $26.32M
YoY Change 66.75% 96.68% 29.94%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $202.0K $51.45M $7.358M
YoY Change -96.91% 599.28% -26.31%
Total Long-Term Liabilities $202.0K $51.45M $7.358M
YoY Change -96.91% 599.28% -26.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $54.38M $51.77M $26.32M
Total Long-Term Liabilities $202.0K $51.45M $7.358M
Total Liabilities $104.8M $103.2M $33.68M
YoY Change 167.7% 206.48% 11.36%
SHAREHOLDERS EQUITY
Retained Earnings -$794.7M -$720.6M -$485.2M
YoY Change 48.24% 48.52% 56.57%
Common Stock $881.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $830.8M $874.9M $280.3M
YoY Change
Total Liabilities & Shareholders Equity $935.5M $978.2M $314.0M
YoY Change 219.02% 211.5% -5.78%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$74.06M -$66.93M -$46.00M
YoY Change 45.27% 45.52% 32.83%
Depreciation, Depletion And Amortization $753.0K $474.0K $283.0K
YoY Change 168.93% 67.49% 17.92%
Cash From Operating Activities -$45.62M -$52.86M -$40.72M
YoY Change -0.26% 29.81% 200.66%
INVESTING ACTIVITIES
Capital Expenditures $955.0K $1.332M $16.00K
YoY Change 302.95% 8225.0% -81.61%
Acquisitions
YoY Change
Other Investing Activities -$52.69M $1.641M $48.77M
YoY Change -266.34% -96.64% -212.64%
Cash From Investing Activities -$53.64M $309.0K $48.76M
YoY Change -270.64% -99.37% -212.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $350.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.496M 393.6M 484.0K
YoY Change -56.58% 81216.94% -72.81%
NET CHANGE
Cash From Operating Activities -45.62M -52.86M -40.72M
Cash From Investing Activities -53.64M 309.0K 48.76M
Cash From Financing Activities 5.496M 393.6M 484.0K
Net Change In Cash -93.76M 341.0M 8.521M
YoY Change 5613.71% 3902.19% -115.45%
FREE CASH FLOW
Cash From Operating Activities -$45.62M -$52.86M -$40.72M
Capital Expenditures $955.0K $1.332M $16.00K
Free Cash Flow -$46.57M -$54.19M -$40.73M
YoY Change 1.31% 33.03% 198.86%

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