2022 Q1 Form 10-Q Financial Statement

#000080364922000046 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $16.69M $14.85M
YoY Change 12.36% -21.09%
Cost Of Revenue $4.533M $6.600M
YoY Change -31.32% -25.0%
Gross Profit $12.15M $8.200M
YoY Change 48.21% -18.81%
Gross Profit Margin 72.83% 55.22%
Selling, General & Admin $8.002M $15.70M
YoY Change -49.03% 48.11%
% of Gross Profit 65.84% 191.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.412M $4.351M
YoY Change 1.4% -14.92%
% of Gross Profit 36.3% 53.06%
Operating Expenses $12.41M $20.10M
YoY Change -38.24% 28.03%
Operating Profit -$261.0K -$11.90M
YoY Change -97.81% 112.5%
Interest Expense $1.574M $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $1.313M -$10.01M
YoY Change -113.12% -102.35%
Income Tax $8.000K $31.00K
% Of Pretax Income 0.61%
Net Earnings $1.302M -$10.02M
YoY Change -113.0% -102.36%
Net Earnings / Revenue 7.8% -67.46%
Basic Earnings Per Share
Diluted Earnings Per Share $11.45K -$81.97K
COMMON SHARES
Basic Shares Outstanding 113.7M shares 122.0M shares
Diluted Shares Outstanding 113.7M shares 122.0M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.722B $2.971B
YoY Change -8.39% -11.27%
Cash & Equivalents $2.700B $3.000B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $15.64M $14.60M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.738B $2.986B
YoY Change -8.31% -11.23%
LONG-TERM ASSETS
Property, Plant & Equipment $246.8M $258.1M
YoY Change -4.39% -0.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $262.4M $275.0M
YoY Change -4.56% -19.3%
TOTAL ASSETS
Total Short-Term Assets $2.738B $2.986B
Total Long-Term Assets $262.4M $275.0M
Total Assets $3.000B $3.261B
YoY Change -7.99% -11.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.51M $21.00M
YoY Change -26.17% -19.23%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.02M $26.10M
YoY Change -38.62% -17.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $3.732M $3.000M
YoY Change 24.4% 36.36%
Total Long-Term Liabilities $3.732M $3.000M
YoY Change 24.4% -89.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.02M $26.10M
Total Long-Term Liabilities $3.732M $3.000M
Total Liabilities $19.75M $29.06M
YoY Change -32.03% -51.12%
SHAREHOLDERS EQUITY
Retained Earnings $3.800B $3.805B
YoY Change -0.13% 0.44%
Common Stock $4.054B $4.296B
YoY Change -5.63% 0.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.973B $3.225B
YoY Change
Total Liabilities & Shareholders Equity $3.000B $3.261B
YoY Change -7.99% -11.97%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $1.302M -$10.02M
YoY Change -113.0% -102.36%
Depreciation, Depletion And Amortization $4.412M $4.351M
YoY Change 1.4% -14.92%
Cash From Operating Activities $2.916M $1.548M
YoY Change 88.37% -86.86%
INVESTING ACTIVITIES
Capital Expenditures -$3.600M
YoY Change 140.0%
Acquisitions
YoY Change
Other Investing Activities -$650.0K $0.00
YoY Change -100.0%
Cash From Investing Activities -$650.0K -$3.607M
YoY Change -81.98% -100.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $77.88M $6.093M
YoY Change 1178.14% -77.33%
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -$81.34M -$14.11M
YoY Change 476.27% -55.84%
NET CHANGE
Cash From Operating Activities $2.916M $1.548M
Cash From Investing Activities -$650.0K -$3.607M
Cash From Financing Activities -$81.34M -$14.11M
Net Change In Cash -$79.07M -$16.17M
YoY Change 388.9% -102.94%
FREE CASH FLOW
Cash From Operating Activities $2.916M $1.548M
Capital Expenditures -$3.600M
Free Cash Flow $5.148M
YoY Change -61.23%

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2971052000 USD
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-12000 USD
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-12000 USD
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
703000 USD
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
840000 USD
CY2022Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
514000 USD
CY2021Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
5072000 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2700000000 USD
CY2022Q1 us-gaap Real Estate Improvements
RealEstateImprovements
800000 USD
CY2022Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
10103000 USD
CY2021Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
9257000 USD
CY2022Q1 us-gaap Variable Lease Income
VariableLeaseIncome
5737000 USD
CY2021Q1 us-gaap Variable Lease Income
VariableLeaseIncome
4912000 USD
CY2022Q1 us-gaap Lease Income
LeaseIncome
15840000 USD
CY2021Q1 us-gaap Lease Income
LeaseIncome
14169000 USD
CY2021Q1 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
1500000 USD
CY2022Q1 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
0.40625
CY2022Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.40625
CY2022Q1 eqc Common Stock Conversion Term
CommonStockConversionTerm
P6M
CY2022Q1 eqc Common Stock Basis For Conversion
CommonStockBasisForConversion
1
CY2022Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
8000 USD
CY2021Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
31000 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
31000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
300000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
3400000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1148195 shares
CY2022Q1 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
0 USD
CY2022Q1 us-gaap Profit Loss
ProfitLoss
1305000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
-10038000 USD
CY2021Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-20000 USD
CY2022Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1997000 USD
CY2021Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1997000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-695000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12015000 USD
CY2022Q1 us-gaap Profit Loss
ProfitLoss
1305000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
-10038000 USD
CY2022Q1 eqc Net Income Loss Attributable To Noncontrolling Interest Diluted
NetIncomeLossAttributableToNoncontrollingInterestDiluted
3000 USD
CY2021Q1 eqc Net Income Loss Attributable To Noncontrolling Interest Diluted
NetIncomeLossAttributableToNoncontrollingInterestDiluted
-20000 USD
CY2022Q1 us-gaap Dilutive Securities
DilutiveSecurities
-1997000 USD
CY2021Q1 us-gaap Dilutive Securities
DilutiveSecurities
-1997000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-695000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-12015000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113740000 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
122002000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113740000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
122002000 shares
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.01
CY2021Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.10
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.01
CY2021Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.10
CY2021Q1 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0650
CY2022Q1 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0650
CY2022Q1 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0650
CY2021Q1 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0650
CY2022Q1 eqc Weighted Average Number Of Shares Restricted Stock Units Unvested
WeightedAverageNumberOfSharesRestrictedStockUnitsUnvested
162000 shares
CY2021Q1 eqc Weighted Average Number Of Shares Restricted Stock Units Unvested
WeightedAverageNumberOfSharesRestrictedStockUnitsUnvested
236000 shares
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment

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