2024 Q2 Form 10-Q Financial Statement

#000165194424000047 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $3.845M
YoY Change 10.58%
Cost Of Revenue $3.132M
YoY Change -18.03%
Gross Profit $713.0K
YoY Change -307.27%
Gross Profit Margin 18.54%
Selling, General & Admin $17.96M
YoY Change -34.21%
% of Gross Profit 2518.23%
Research & Development $3.266M
YoY Change -25.92%
% of Gross Profit 458.06%
Depreciation & Amortization $490.0K
YoY Change 5.15%
% of Gross Profit 68.72%
Operating Expenses $21.22M
YoY Change -33.06%
Operating Profit -$20.51M
YoY Change -36.0%
Interest Expense $498.0K
YoY Change -36.32%
% of Operating Profit
Other Income/Expense, Net $498.0K
YoY Change -35.74%
Pretax Income -$20.01M
YoY Change -36.01%
Income Tax
% Of Pretax Income
Net Earnings -$20.00M
YoY Change -36.04%
Net Earnings / Revenue -520.16%
Basic Earnings Per Share -$0.58
Diluted Earnings Per Share -$0.58
COMMON SHARES
Basic Shares Outstanding 34.96M shares 34.62M shares
Diluted Shares Outstanding 34.71M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $38.98M
YoY Change -62.8%
Cash & Equivalents $27.60M
Short-Term Investments $11.40M
Other Short-Term Assets $651.0K
YoY Change -1.36%
Inventory $831.0K
Prepaid Expenses
Receivables $2.497M
Other Receivables $0.00
Total Short-Term Assets $44.20M
YoY Change -60.67%
LONG-TERM ASSETS
Property, Plant & Equipment $4.498M
YoY Change -28.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.467M
YoY Change 1963.69%
Total Long-Term Assets $58.77M
YoY Change -9.21%
TOTAL ASSETS
Total Short-Term Assets $44.20M
Total Long-Term Assets $58.77M
Total Assets $103.0M
YoY Change -41.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.913M
YoY Change 13.87%
Accrued Expenses $1.943M
YoY Change -59.58%
Deferred Revenue $200.0K
YoY Change 0.0%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $17.00K
YoY Change -82.47%
Total Short-Term Liabilities $12.52M
YoY Change -22.43%
LONG-TERM LIABILITIES
Long-Term Debt $34.00K
YoY Change -30.61%
Other Long-Term Liabilities $50.42M
YoY Change -6.09%
Total Long-Term Liabilities $50.46M
YoY Change -6.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.52M
Total Long-Term Liabilities $50.46M
Total Liabilities $62.98M
YoY Change -9.88%
SHAREHOLDERS EQUITY
Retained Earnings -$443.9M
YoY Change 25.29%
Common Stock $483.8M
YoY Change 4.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $39.99M
YoY Change
Total Liabilities & Shareholders Equity $103.0M
YoY Change -41.86%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$20.00M
YoY Change -36.04%
Depreciation, Depletion And Amortization $490.0K
YoY Change 5.15%
Cash From Operating Activities -$17.10M
YoY Change -22.37%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $7.834M
YoY Change -205.34%
Cash From Investing Activities $7.834M
YoY Change -195.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $122.0K
YoY Change -86.68%
NET CHANGE
Cash From Operating Activities -$17.10M
Cash From Investing Activities $7.834M
Cash From Financing Activities $122.0K
Net Change In Cash -$9.163M
YoY Change -68.73%
FREE CASH FLOW
Cash From Operating Activities -$17.10M
Capital Expenditures $0.00
Free Cash Flow -$17.10M
YoY Change -24.95%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
81245000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
31046000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
51939000 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
27579000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
48438000 usd
CY2024Q1 us-gaap Restricted Cash
RestrictedCash
3467000 usd
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
3501000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31046000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51939000 usd
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
5000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
1000 usd
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
16000 usd
CY2024Q1 dmtk Change In Unrealized Gain Loss On Available For Sale Marketable Securities
ChangeInUnrealizedGainLossOnAvailableForSaleMarketableSecurities
-77000 usd
CY2023Q1 dmtk Change In Unrealized Gain Loss On Available For Sale Marketable Securities
ChangeInUnrealizedGainLossOnAvailableForSaleMarketableSecurities
485000 usd
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-443900000 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
27600000 usd
CY2024Q1 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
11400000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-20000000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-17100000 usd
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
Use of Estimates <div style="margin-top:9pt;padding-left:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the amounts of revenues and expenses reported during the period. On an ongoing basis, management evaluates these estimates and judgments, including but not limited to those related to test revenue, stock-based compensation, short-term marketable securities, accounts receivable, accrued bonus, warrant liability, right-of-use (“ROU”) assets and the realization of deferred tax assets. Actual results may differ from those estimates.</span></div>
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
Concentration of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents and available-for-sale marketable securities. The Company invests its cash balances in major financial institutions that it believes have high credit quality and are insured with the Federal Deposit Insurance Corporation (“FDIC”). At times throughout the year, cash deposits might exceed FDIC insurance limits. The Company has not experienced any losses and does not believe it is exposed to any significant credit risk.
CY2024Q1 dmtk Number Of Revenue Streams
NumberOfRevenueStreams
2 revenuestream
CY2024Q1 dmtk Revenue Performance Obligation Satisfied Variable Consideration Update Increase Decrease In Revenue
RevenuePerformanceObligationSatisfiedVariableConsiderationUpdateIncreaseDecreaseInRevenue
73000 usd
CY2023Q1 dmtk Revenue Performance Obligation Satisfied Variable Consideration Update Increase Decrease In Revenue
RevenuePerformanceObligationSatisfiedVariableConsiderationUpdateIncreaseDecreaseInRevenue
-500000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3845000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3477000 usd
CY2024Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
200000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
200000 usd
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0 usd
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4236000 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6243000 shares
CY2024Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
11318000 usd
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
106000 usd
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
24000 usd
CY2024Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
11400000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
18965000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
208000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
50000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
19123000 usd
CY2024Q1 dmtk Estimated Market Value Of Debt Securities With Contractual Maturities Of Less Than12 Months
EstimatedMarketValueOfDebtSecuritiesWithContractualMaturitiesOfLessThan12Months
11400000 usd
CY2023Q4 dmtk Estimated Market Value Of Debt Securities With Contractual Maturities Of Less Than12 Months
EstimatedMarketValueOfDebtSecuritiesWithContractualMaturitiesOfLessThan12Months
19100000 usd
CY2023Q4 dmtk Credit Losses
CreditLosses
0 usd
CY2024Q1 dmtk Credit Losses
CreditLosses
0 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
3092000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
11000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
4370000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
13000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
7462000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
24000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
2587000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
9000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
5566000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
41000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
8153000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
50000 usd
CY2024Q1 us-gaap Prepaid Insurance
PrepaidInsurance
1241000 usd
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1719000 usd
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
651000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
581000 usd
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1892000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2300000 usd
CY2024Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
6055000 usd
CY2023Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
6100000 usd
CY2024Q1 dmtk Computer Equipment Gross
ComputerEquipmentGross
831000 usd
CY2023Q4 dmtk Computer Equipment Gross
ComputerEquipmentGross
831000 usd
CY2024Q1 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
1248000 usd
CY2023Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
1248000 usd
CY2024Q1 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
604000 usd
CY2023Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
604000 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8738000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8783000 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4240000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3795000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4498000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4988000 usd
CY2024Q1 us-gaap Accrued Vacation Current
AccruedVacationCurrent
2350000 usd
CY2023Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
3534000 usd
CY2024Q1 dmtk Accrued Bonus And Deferred Compensation Current
AccruedBonusAndDeferredCompensationCurrent
2898000 usd
CY2023Q4 dmtk Accrued Bonus And Deferred Compensation Current
AccruedBonusAndDeferredCompensationCurrent
3130000 usd
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5248000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6664000 usd
CY2024Q1 dmtk Accrued Consulting Services Current
AccruedConsultingServicesCurrent
365000 usd
CY2023Q4 dmtk Accrued Consulting Services Current
AccruedConsultingServicesCurrent
262000 usd
CY2024Q1 us-gaap Customer Refund Liability Current
CustomerRefundLiabilityCurrent
1008000 usd
CY2023Q4 us-gaap Customer Refund Liability Current
CustomerRefundLiabilityCurrent
1008000 usd
CY2024Q1 us-gaap Restructuring Reserve
RestructuringReserve
93000 usd
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
10000 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
477000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
737000 usd
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1943000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2017000 usd
CY2024Q1 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2697000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4736000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
13600000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y1M20D
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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