2023 Q2 Form 10-Q Financial Statement

#000155485523000363 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.633M $6.154M $808.8K
YoY Change 2.43% 660.95% 114.44%
% of Gross Profit
Research & Development $21.82M $21.53M $9.115M
YoY Change 121.86% 136.19% 382.26%
% of Gross Profit
Depreciation & Amortization $81.08K $22.05K $0.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses $28.45M $27.68M $9.923M
YoY Change 74.45% 178.96% 2531.17%
Operating Profit -$28.45M -$27.68M -$10.43M
YoY Change 74.05% 165.34% 2666.19%
Interest Expense -$2.653M $2.084M $444.9K
YoY Change -156.32% 368.48% -96.33%
% of Operating Profit
Other Income/Expense, Net $148.0K $34.00K -$22.22K
YoY Change -1174.8% -253.02%
Pretax Income -$31.11M -$25.60M -$9.501M
YoY Change 166.97% 169.43% -180.88%
Income Tax $303.0K $173.7K $0.00
% Of Pretax Income
Net Earnings -$31.41M -$25.77M -$9.501M
YoY Change 166.6% 171.26% 328.52%
Net Earnings / Revenue
Basic Earnings Per Share -$0.11 -$0.09 -$0.05
Diluted Earnings Per Share -$0.11 -$0.09 -$39.29K
COMMON SHARES
Basic Shares Outstanding 269.1M shares 269.1M shares 220.0M shares
Diluted Shares Outstanding 275.6M shares 275.5M shares 220.0M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $184.4M $211.0M $24.68K
YoY Change -44.26% 854668.4% -98.36%
Cash & Equivalents $33.59M $11.84M $12.51M
Short-Term Investments $150.8M $199.1M
Other Short-Term Assets $1.462M $740.7K $84.90K
YoY Change 780.24% 772.44% -70.61%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $270.8M $295.5M $109.6K
YoY Change -18.24% 269599.44% -93.89%
LONG-TERM ASSETS
Property, Plant & Equipment $513.8K $594.3K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $236.9M
YoY Change 2.0%
Other Assets
YoY Change
Total Long-Term Assets $1.064M $801.5K $236.9M
YoY Change -99.66% 2.0%
TOTAL ASSETS
Total Short-Term Assets $270.8M $295.5M $109.6K
Total Long-Term Assets $1.064M $801.5K $236.9M
Total Assets $271.9M $296.3M $237.1M
YoY Change -17.92% 25.01% 1.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.351M $490.1K $5.709M
YoY Change 164.23% -91.41% 2268.55%
Accrued Expenses $2.304M $5.046M $972.6K
YoY Change 418.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $150.0K
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $38.59M $32.86M $5.859M
YoY Change 94.12% 460.89% 2330.76%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.531M $976.3K $24.67M
YoY Change 181.96% -96.04% -31.44%
Total Long-Term Liabilities $1.531M $976.3K $24.67M
YoY Change 181.96% -96.04% -31.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.59M $32.86M $5.859M
Total Long-Term Liabilities $1.531M $976.3K $24.67M
Total Liabilities $40.12M $33.84M $30.53M
YoY Change 96.46% 10.84% -15.73%
SHAREHOLDERS EQUITY
Retained Earnings -$274.2M -$242.8M
YoY Change 2704.61%
Common Stock $505.9M $505.3M
YoY Change 57.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $231.7M $262.5M $3.645M
YoY Change
Total Liabilities & Shareholders Equity $271.9M $296.3M $237.1M
YoY Change -17.92% 25.01% 1.26%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$31.41M -$25.77M -$9.501M
YoY Change 166.6% 171.26% 328.52%
Depreciation, Depletion And Amortization $81.08K $22.05K $0.00
YoY Change -100.0%
Cash From Operating Activities -$27.71M -$19.89M -$600.7K
YoY Change 120.24% 3211.54% 28.22%
INVESTING ACTIVITIES
Capital Expenditures $121.7K $43.70K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $49.50M -$17.50M
YoY Change -132.14%
Cash From Investing Activities $49.38M -$17.54M $0.00
YoY Change -132.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -287.2K $0.00 150.0K
YoY Change -100.09% -100.0% -94.81%
NET CHANGE
Cash From Operating Activities -27.71M -$19.89M -600.7K
Cash From Investing Activities 49.38M -$17.54M $0.00
Cash From Financing Activities -287.2K $0.00 150.0K
Net Change In Cash 21.38M -$37.31M -450.7K
YoY Change -86.84% 8178.72% -3.8%
FREE CASH FLOW
Cash From Operating Activities -$27.71M -$19.89M -$600.7K
Capital Expenditures $121.7K $43.70K $0.00
Free Cash Flow -$27.83M -$19.93M -$600.7K
YoY Change 3218.82%

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CY2023Q1 us-gaap Use Of Estimates
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<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">Use of Estimates </span></p> <p style="margin: 8pt 0cm 0cm; text-indent: 22.5pt; line-height: 1.2; font-size: 10pt; font-family: 'Times New Roman'; text-align: justify;"><span style="font-size: 10pt; font-family: 'Times New Roman', serif; line-height: inherit;"><span style="line-height: inherit;">The preparation of consolidated financial statements in accordance with U.S. GAAP requires the Company’s management to make estimates and judgments that affected the reported amounts of assets and liabilities and allocations of expenses. These judgments were based on the historical experience, management’s evaluation of trends in the industry and other factors that were deemed relevant at that time. The estimates and assumptions were reviewed on a regular basis and the changes to accounting estimates were recognized in the period in which the estimates were revised. The Company’s management recognize that the actual results could be materially different from the estimates. </span><span style="line-height: inherit;"><span style="line-height: inherit;">Under the legal entity approach, the significant estimates include, </span></span><span style="line-height: inherit;">but are not limited to the measurement of warrants, fair value measurement and income taxes.</span></span></p>
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CY2023Q1 us-gaap Property Plant And Equipment Net
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CY2023Q1 evex Social Charges Payable Current
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CY2023Q1 evex Long Term Incentive Plan
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CY2022Q4 evex Long Term Incentive Plan
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CY2023Q1 evex Advanced Payments Related To Service Arrangements
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CY2023Q1 us-gaap Accrued Income Taxes
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CY2022Q4 us-gaap Accrued Income Taxes
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CY2023Q1 us-gaap Other Liabilities
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CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
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CY2023Q1 us-gaap Common Stock Shares Authorized
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CY2023Q1 us-gaap Preferred Stock Shares Authorized
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CY2023Q1 us-gaap Common Stock Shares Outstanding
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CY2022Q4 us-gaap Preferred Stock Shares Outstanding
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CY2023Q1 us-gaap Preferred Stock Shares Issued
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CY2023Q1 us-gaap Common Stock Voting Rights
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CY2023Q1 us-gaap Dividends Common Stock
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CY2023Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2022Q4 us-gaap Derivative Instruments In Hedges Assets At Fair Value
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2023Q1 evex Sharebased Compensation Arrangement By Sharebased Payment Award Options Granted Weighted Average Remaining Contractual Term1
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q1 evex Share Based Compensation Arrangement By Share Based Payment Award Options Convertible In Period
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CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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CY2022Q1 us-gaap Allocated Share Based Compensation Expense
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CY2022Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
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CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q1 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
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CY2023Q1 us-gaap Net Income Loss
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CY2022Q1 us-gaap Net Income Loss
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CY2023Q1 us-gaap Earnings Per Share Diluted
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CY2023Q1 us-gaap Earnings Per Share Basic
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021Q3 us-gaap Number Of Properties Subject To Ground Leases
NumberOfPropertiesSubjectToGroundLeases
2 number

Files In Submission

Name View Source Status
evex-20230331_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
evex-20230331_lab.xml Edgar Link unprocessable
evex-20230331_cal.xml Edgar Link unprocessable
evex-20230331_pre.xml Edgar Link unprocessable
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evex-20230331.htm Edgar Link pending
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