2023 Q1 Form 10-K Financial Statement

#000114036123014668 Filed on March 30, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $294.0K $234.2K $1.206M
YoY Change -8.53% -7.9% 2.25%
Cost Of Revenue $105.1K $85.46K $441.9K
YoY Change -14.31% 32.89% 19.32%
Gross Profit $188.9K $148.8K $764.3K
YoY Change -4.96% -21.7% -5.56%
Gross Profit Margin 64.24% 63.52% 63.36%
Selling, General & Admin $1.560M $1.743M $5.990M
YoY Change 2.89% 28.9% 33.97%
% of Gross Profit 826.01% 1171.39% 783.69%
Research & Development $1.537M $1.272M $5.814M
YoY Change 8.19% 20.66% 42.34%
% of Gross Profit 814.05% 854.69% 760.68%
Depreciation & Amortization $131.7K $134.7K $539.4K
YoY Change -8.7% -5.01% -2.12%
% of Gross Profit 69.71% 90.57% 70.58%
Operating Expenses $3.231M $3.149M $12.36M
YoY Change 4.84% 23.61% 35.19%
Operating Profit -$3.042M -$3.000M -$11.60M
YoY Change 5.51% 27.26% 39.15%
Interest Expense $1.672K $114.8K $13.46K
YoY Change -38.84% -4098.26% -29.97%
% of Operating Profit
Other Income/Expense, Net $95.42K -$2.280K $212.4K
YoY Change -34177.5% 812.0% -73.55%
Pretax Income -$2.946M -$2.888M -$11.39M
YoY Change 2.19% 22.32% 51.16%
Income Tax $6.300K $6.300K
% Of Pretax Income
Net Earnings -$2.946M -$2.894M -$11.39M
YoY Change 2.19% 22.38% 51.16%
Net Earnings / Revenue -1002.18% -1235.57% -944.62%
Basic Earnings Per Share -$0.25 -$0.96
Diluted Earnings Per Share -$0.25 -$0.24 -$0.96
COMMON SHARES
Basic Shares Outstanding 11.87M 11.81M 11.82M
Diluted Shares Outstanding 11.87M 11.82M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.16M $12.96M $12.96M
YoY Change -53.32% -47.7% -47.7%
Cash & Equivalents $10.16M $12.96M
Short-Term Investments
Other Short-Term Assets $542.1K $655.4K $655.4K
YoY Change -4.45% 17.9% 17.9%
Inventory $500.7K $436.7K $436.7K
Prepaid Expenses
Receivables $124.0K $77.47K $77.47K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $11.33M $14.13M $14.13M
YoY Change -50.16% -44.87% -44.87%
LONG-TERM ASSETS
Property, Plant & Equipment $1.378M $1.483M $1.803M
YoY Change -36.27% -7.25% -20.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $920.8K $958.2K $958.2K
YoY Change 47.23% 46.19% 46.19%
Total Long-Term Assets $2.540M $2.764M $2.764M
YoY Change -9.46% -6.15% -6.15%
TOTAL ASSETS
Total Short-Term Assets $11.33M $14.13M $14.13M
Total Long-Term Assets $2.540M $2.764M $2.764M
Total Assets $13.87M $16.90M $16.90M
YoY Change -45.69% -40.88% -40.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $526.8K $510.8K $510.8K
YoY Change -3.94% 14.64% 14.64%
Accrued Expenses $535.4K $456.7K $456.7K
YoY Change -5.27% -24.36% -24.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $305.1K $515.1K $515.1K
YoY Change -31.64% -12.36% -12.36%
Total Short-Term Liabilities $1.413M $1.528M $1.528M
YoY Change -13.45% -9.71% -9.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $28.58K $28.58K
YoY Change -100.0% -92.9% -92.9%
Other Long-Term Liabilities $98.82K $96.66K $96.66K
YoY Change -3.59% -35.47%
Total Long-Term Liabilities $98.82K $125.2K $125.2K
YoY Change -75.75% -77.32% -77.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.413M $1.528M $1.528M
Total Long-Term Liabilities $98.82K $125.2K $125.2K
Total Liabilities $1.511M $1.653M $1.653M
YoY Change -25.9% -26.34% -26.34%
SHAREHOLDERS EQUITY
Retained Earnings -$97.08M -$94.13M
YoY Change 13.77%
Common Stock $11.99K $11.99K
YoY Change 0.55%
Preferred Stock
YoY Change
Treasury Stock (at cost) $60.00K $60.00K
YoY Change 0.0%
Treasury Stock Shares $117.2K $117.2K
Shareholders Equity $12.36M $15.24M $15.24M
YoY Change
Total Liabilities & Shareholders Equity $13.87M $16.90M $16.90M
YoY Change -45.69% -40.88% -40.88%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$2.946M -$2.894M -$11.39M
YoY Change 2.19% 22.38% 51.16%
Depreciation, Depletion And Amortization $131.7K $134.7K $539.4K
YoY Change -8.7% -5.01% -2.12%
Cash From Operating Activities -$2.648M -$2.868M -$10.73M
YoY Change -3.86% 27.58% 35.32%
INVESTING ACTIVITIES
Capital Expenditures $8.901K $93.88K $407.5K
YoY Change -107.39% -179.14% 32.79%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$8.901K -$93.88K -$407.5K
YoY Change -92.61% -20.86% 32.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $79.46K
YoY Change -99.75%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -144.1K -81.95K -681.6K
YoY Change 2.16% -37.32% -102.3%
NET CHANGE
Cash From Operating Activities -2.648M -2.868M -10.73M
Cash From Investing Activities -8.901K -93.88K -407.5K
Cash From Financing Activities -144.1K -81.95K -681.6K
Net Change In Cash -2.801M -3.044M -11.82M
YoY Change -7.12% 21.88% -155.08%
FREE CASH FLOW
Cash From Operating Activities -$2.648M -$2.868M -$10.73M
Capital Expenditures $8.901K $93.88K $407.5K
Free Cash Flow -$2.657M -$2.962M -$11.14M
YoY Change 0.87% 39.1% 35.23%

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CY2021Q4 us-gaap Accounts Payable Current
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CY2021Q4 us-gaap Accrued Liabilities Current
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CY2022Q4 femy Clinical Holdback Current
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CY2021Q4 femy Clinical Holdback Current
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CY2022Q4 us-gaap Notes Payable Current
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CY2021Q4 us-gaap Notes Payable Current
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CY2022Q4 femy Operating And Finance Lease Liability Current
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CY2021Q4 femy Operating And Finance Lease Liability Current
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CY2021Q4 us-gaap Other Liabilities Current
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CY2022Q4 us-gaap Liabilities Current
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CY2021Q4 us-gaap Liabilities Current
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1692090
CY2022Q4 femy Clinical Holdback Noncurrent
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CY2021Q4 femy Clinical Holdback Noncurrent
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CY2022Q4 femy Operating And Finance Lease Liability Noncurrent
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28584
CY2021Q4 femy Operating And Finance Lease Liability Noncurrent
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CY2022Q4 us-gaap Liabilities Noncurrent
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CY2021Q4 us-gaap Liabilities Noncurrent
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CY2022Q4 us-gaap Liabilities
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CY2021Q4 us-gaap Common Stock Shares Authorized
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CY2021Q4 us-gaap Common Stock Shares Outstanding
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CY2022Q4 us-gaap Common Stock Value
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CY2021Q4 us-gaap Common Stock Value
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CY2021Q4 us-gaap Treasury Stock Shares
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CY2022Q4 us-gaap Treasury Stock Shares
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CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022 us-gaap Cost Of Goods And Services Sold
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CY2021 us-gaap Cost Of Goods And Services Sold
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CY2022 us-gaap Gross Profit
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CY2021 us-gaap Gross Profit
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CY2022 us-gaap Research And Development Expense
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CY2021 us-gaap Research And Development Expense
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CY2022 us-gaap Selling And Marketing Expense
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CY2021 us-gaap Selling And Marketing Expense
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CY2022 us-gaap General And Administrative Expense
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CY2021 us-gaap General And Administrative Expense
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CY2022 us-gaap Depreciation And Amortization
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561233
CY2021 us-gaap Depreciation And Amortization
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591068
CY2021 us-gaap Earnings Per Share Diluted
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2021 us-gaap Stock Issued During Period Value New Issues
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CY2021 femy Automatic Conversion Of Preferred Stock In Connection With Ipo
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CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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193366
CY2021 us-gaap Net Income Loss
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CY2021Q4 us-gaap Stockholders Equity
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26332382
CY2022 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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CY2022 femy Stock Issuance Costs
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CY2022 femy Stock Issued During Period Value At The Market Offering Net Of Issuance Costs
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59488
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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224939
CY2022 femy Expiration Of Warrant
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CY2022 us-gaap Net Income Loss
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CY2022 us-gaap Inventory Lifo Reserve Period Charge
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CY2021 us-gaap Inventory Lifo Reserve Period Charge
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CY2022 us-gaap Share Based Compensation
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CY2021 us-gaap Share Based Compensation
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193366
CY2022 us-gaap Other Noncash Income
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CY2021 us-gaap Other Noncash Income
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CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2022 us-gaap Increase Decrease In Accounts Receivable
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-6788
CY2021 us-gaap Increase Decrease In Accounts Receivable
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CY2022 us-gaap Increase Decrease In Inventories
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232553
CY2021 us-gaap Increase Decrease In Inventories
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77432
CY2022 us-gaap Increase Decrease In Other Operating Assets
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-295862
CY2021 us-gaap Increase Decrease In Other Operating Assets
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CY2022 us-gaap Increase Decrease In Accounts Payable
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65236
CY2021 us-gaap Increase Decrease In Accounts Payable
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CY2022 us-gaap Increase Decrease In Accrued Liabilities
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CY2021 us-gaap Increase Decrease In Accrued Liabilities
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CY2021 us-gaap Increase Decrease In Other Operating Liabilities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
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407475
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
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306868
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Payment Of Financing And Stock Issuance Costs
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CY2021 us-gaap Payment Of Financing And Stock Issuance Costs
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CY2022 us-gaap Income Taxes Paid Net
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CY2021 us-gaap Income Taxes Paid Net
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CY2022 femy Conversion Of Convertible Preferred Stock To Common Stock
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0
CY2021 femy Conversion Of Convertible Preferred Stock To Common Stock
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55360897
CY2022 femy Commission Costs Relating To Certain Proceeds From Issuance Of Common Stock
CommissionCostsRelatingToCertainProceedsFromIssuanceOfCommonStock
1843
CY2021 femy Commission Costs Relating To Certain Proceeds From Issuance Of Common Stock
CommissionCostsRelatingToCertainProceedsFromIssuanceOfCommonStock
0
CY2022 femy Prepaid Insurance Financed With Promissory Note
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141298
CY2022 femy Deferred Offering Costs Charged Against Certain Proceeds From Issuance Of Common Stock
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CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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1643858
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
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CY2021Q4 us-gaap Finite Lived Intangible Assets Net
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CY2022 us-gaap Amortization Of Intangible Assets
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21799
CY2021 us-gaap Amortization Of Intangible Assets
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39976
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2022 us-gaap Allowance For Loan And Lease Losses Write Offs
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CY2021 us-gaap Allowance For Loan And Lease Losses Write Offs
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CY2022Q4 femy Reserves For Uncollectible Accounts
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2048
CY2021Q4 femy Reserves For Uncollectible Accounts
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2026
CY2022 femy Inventory Disposals
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2847
CY2021 femy Inventory Disposals
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586
CY2022Q4 us-gaap Inventory Valuation Reserves
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2103
CY2021Q4 us-gaap Inventory Valuation Reserves
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850
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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3294
CY2022Q4 us-gaap Inventory Raw Materials
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244498
CY2021Q4 us-gaap Inventory Raw Materials
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111531
CY2022Q4 us-gaap Inventory Work In Process
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100453
CY2021Q4 us-gaap Inventory Work In Process
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12795
CY2022Q4 us-gaap Inventory Finished Goods
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91772
CY2021Q4 us-gaap Inventory Finished Goods
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83944
CY2022Q4 us-gaap Inventory Net
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436723
CY2021Q4 us-gaap Inventory Net
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208270
CY2022Q4 femy Research Tax Credits
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891062
CY2021Q4 femy Research Tax Credits
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766571
CY2022Q4 femy Research Tax Credits Current
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212134
CY2021Q4 femy Research Tax Credits Current
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184638
CY2022Q4 femy Research Tax Credits Noncurrent
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678928
CY2021Q4 femy Research Tax Credits Noncurrent
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581933
CY2022Q4 femy Research Tax Credits
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891062
CY2021Q4 femy Research Tax Credits
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766571
CY2021Q4 femy Clinical Holdback Liability
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168738
CY2022 femy Clinical Holdback Retained
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21456
CY2022 femy Clinical Holdback Paid
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48330
CY2022Q4 femy Clinical Holdback Liability
ClinicalHoldbackLiability
141864
CY2022Q4 femy Clinical Holdback Current
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45206
CY2022Q4 femy Clinical Holdback Noncurrent
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96658
CY2022 us-gaap Depreciation Expense On Reclassified Assets
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521151
CY2021 us-gaap Depreciation Expense On Reclassified Assets
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532552
CY2022 us-gaap Property Plant And Equipment Disposals
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28234
CY2022 us-gaap Property Plant And Equipment Gross Period Increase Decrease
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2285
CY2021 us-gaap Property Plant And Equipment Disposals
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11401
CY2021 us-gaap Property Plant And Equipment Gross Period Increase Decrease
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3098
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
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CY2022 femy Minimum Term To Record Operating Leases As Right To Use Assets And Operating Lease Liabilities
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CY2022 femy Minimum Term To Record Finance Leases As Right To Use Assets And Finance Lease Liabilities
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CY2022 us-gaap Finite Lived Intangible Asset Useful Life
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CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
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CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
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1668951
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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1665657
CY2022 us-gaap Payment Of Financing And Stock Issuance Costs
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CY2022Q4 us-gaap Deferred Offering Costs
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CY2021Q2 us-gaap Deferred Offering Costs
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CY2021Q2 us-gaap Deferred Offering Costs
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1591143
CY2022Q4 femy Deferred Offering Costs Capitalized
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232750
CY2021Q4 femy Deferred Offering Costs Capitalized
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CY2022Q4 femy Accrued Clinical Trial Cost
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333440
CY2021Q4 femy Accrued Clinical Trial Cost
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301730
CY2022Q4 us-gaap Employee Related Liabilities Current
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85191
CY2021Q4 us-gaap Employee Related Liabilities Current
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98272
CY2022Q4 femy Franchise Taxes
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26886
CY2021Q4 femy Franchise Taxes
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103020
CY2022Q4 us-gaap Other Accrued Liabilities Current
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11197
CY2021Q4 us-gaap Other Accrued Liabilities Current
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100765
CY2022Q4 us-gaap Accrued Liabilities Current
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456714
CY2021Q4 us-gaap Accrued Liabilities Current
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603787
CY2020Q4 femy Clinical Holdback Liability
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164972
CY2021 femy Clinical Holdback Retained
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15503
CY2021 femy Clinical Holdback Paid
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11737
CY2021Q4 femy Clinical Holdback Liability
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168738
CY2021Q4 femy Clinical Holdback Current
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18947
CY2021Q4 femy Clinical Holdback Noncurrent
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149791
CY2021 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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CY2022 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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CY2022Q4 femy Contract With Customer Unsatisfied Performance Obligation
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CY2021Q4 femy Contract With Customer Unsatisfied Performance Obligation
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CY2022 femy Percentage Of Restocking Fee
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CY2022 us-gaap Advertising Expense
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CY2021 us-gaap Advertising Expense
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CY2021Q4 us-gaap Unrecognized Tax Benefits
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CY2022Q4 us-gaap Unrecognized Tax Benefits
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CY2022 us-gaap Other Nonoperating Income
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CY2021 us-gaap Other Nonoperating Income
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CY2022 femy Number Of Extension Option For Operating Lease Term
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CY2022 femy Lessee Operating Lease Option To Extend Term
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CY2022Q4 femy Current Market Rate
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CY2022 us-gaap Operating Lease Expense
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
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CY2021Q4 us-gaap Operating Lease Right Of Use Asset
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635668
CY2022Q4 femy Operating Lease Asset
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307761
CY2021Q4 femy Operating Lease Asset
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CY2022Q4 us-gaap Operating Lease Liability Current
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CY2021Q4 us-gaap Operating Lease Liability Current
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CY2022Q4 us-gaap Operating Lease Liability Noncurrent
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28584
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
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CY2022Q4 us-gaap Operating Lease Liability
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386224
CY2021Q4 us-gaap Operating Lease Liability
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CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P1Y1M6D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2022 us-gaap Operating Lease Cost
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CY2021 us-gaap Operating Lease Cost
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CY2022 us-gaap Short Term Lease Cost
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CY2021 us-gaap Short Term Lease Cost
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CY2022 us-gaap Variable Lease Cost
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CY2021 us-gaap Variable Lease Cost
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17497
CY2022 us-gaap Lease Cost
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532526
CY2021 us-gaap Lease Cost
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508586
CY2022Q4 femy Operating And Finance Lease Liability Current
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373833
CY2022Q4 femy Operating And Finance Lease Liability Noncurrent
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28584
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2022Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
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CY2021Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
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CY2022Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
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138326
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
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120043
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
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CY2021Q4 us-gaap Finance Lease Right Of Use Asset
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CY2022Q4 us-gaap Finance Lease Liability Current
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16193
CY2021Q4 us-gaap Finance Lease Liability Current
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23058
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
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CY2021Q4 us-gaap Finance Lease Liability Noncurrent
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CY2022Q4 us-gaap Finance Lease Liability
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CY2021Q4 us-gaap Finance Lease Liability
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CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
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CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
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CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P0Y8M12D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
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CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
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CY2022 us-gaap Finance Lease Interest Expense
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2892
CY2021 us-gaap Finance Lease Interest Expense
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5090
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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557500
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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47029
CY2022Q4 femy Operating Lease Liability To Be Paid
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604529
CY2022Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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16792
CY2022Q4 femy Finance Lease Liability To Be Paid
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16792
CY2022Q4 femy Lessee Operating Lease And Finance Lease Liability Payments Due
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621321
CY2022Q4 femy Lessee Operating Lease And Finance Lease Liability Undiscounted Excess Amount
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218904
CY2022Q4 femy Operating And Finance Lease Liability
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402417
CY2022 us-gaap Current Federal Tax Expense Benefit
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CY2021 us-gaap Current Federal Tax Expense Benefit
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CY2022 us-gaap Current State And Local Tax Expense Benefit
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CY2021 us-gaap Current State And Local Tax Expense Benefit
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CY2022 us-gaap Current Income Tax Expense Benefit
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CY2021 us-gaap Current Income Tax Expense Benefit
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CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2022 us-gaap Deferred Income Tax Expense Benefit
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CY2021 us-gaap Deferred Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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2425019
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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