2022 Q1 Form 10-K Financial Statement

#000095017022002727 Filed on March 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 2020 Q4
Revenue $2.592M $19.16M $4.230M
YoY Change -45.88% 117.19%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.76M $30.52M $5.870M
YoY Change 95.62% 42.66% 33.41%
% of Gross Profit
Research & Development $17.83M $69.70M $16.15M
YoY Change 9.16% 18.05% 33.58%
% of Gross Profit
Depreciation & Amortization $500.0K $2.500M $730.0K
YoY Change -16.67% 4.17% 40.38%
% of Gross Profit
Operating Expenses $28.59M $100.2M $22.01M
YoY Change 30.95% 24.6% 33.47%
Operating Profit -$26.00M -$81.05M
YoY Change 52.54% 13.19%
Interest Expense $70.00K $207.0K
YoY Change 59.09% -73.86%
% of Operating Profit
Other Income/Expense, Net $70.00K $207.0K $70.00K
YoY Change 75.0% -73.8% 600.0%
Pretax Income -$25.93M -$80.85M -$17.72M
YoY Change 52.52% 14.16% 9.93%
Income Tax
% Of Pretax Income
Net Earnings -$25.93M -$80.85M -$17.72M
YoY Change 52.53% 14.16% 9.93%
Net Earnings / Revenue -1000.31% -421.89% -418.91%
Basic Earnings Per Share -$0.64 -$2.29
Diluted Earnings Per Share -$637.9K -$2.286M -$643.2K
COMMON SHARES
Basic Shares Outstanding 40.64M 35.36K
Diluted Shares Outstanding 40.64K 35.36K

Balance Sheet

Concept 2022 Q1 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $195.1M $218.2M $112.9M
YoY Change 35.59% 93.23% 16.77%
Cash & Equivalents $33.31M $35.41M $57.05M
Short-Term Investments $161.8M $182.8M $55.86M
Other Short-Term Assets $47.00K $3.726M $74.00K
YoY Change -81.78% -4.46% -73.94%
Inventory
Prepaid Expenses
Receivables $1.208M $4.110M $2.700M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $200.1M $226.0M $119.5M
YoY Change 36.1% 89.12% 19.41%
LONG-TERM ASSETS
Property, Plant & Equipment $7.888M $7.368M $8.397M
YoY Change 1.13% -12.29% -8.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $816.0K $1.634M $578.0K
YoY Change -52.0% -3.88% 879.66%
Total Long-Term Assets $20.18M $9.002M $10.07M
YoY Change 112.46% -10.87% -2.79%
TOTAL ASSETS
Total Short-Term Assets $200.1M $226.0M $119.5M
Total Long-Term Assets $20.18M $9.002M $10.07M
Total Assets $220.2M $235.0M $129.6M
YoY Change 40.73% 81.33% 17.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.003M $4.788M $4.079M
YoY Change 25.06% 16.78% 86.6%
Accrued Expenses $9.231M $9.157M $7.200M
YoY Change 77.52% 27.18% 33.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $18.29M $19.20M $26.73M
YoY Change -19.08% -28.09% 120.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $12.80M $4.262M $7.700M
YoY Change 109.84% -44.65% 13900.0%
Total Long-Term Liabilities $12.80M $4.262M $7.700M
YoY Change 109.84% -44.65% 13900.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.29M $19.20M $26.73M
Total Long-Term Liabilities $12.80M $4.262M $7.700M
Total Liabilities $31.09M $23.46M $34.40M
YoY Change 8.32% -31.8% 47.71%
SHAREHOLDERS EQUITY
Retained Earnings -$328.4M -$221.6M
YoY Change 46.96%
Common Stock $518.6M $316.8M
YoY Change 33.14%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares $0.00 $0.00
Shareholders Equity $189.2M $211.5M $95.18M
YoY Change
Total Liabilities & Shareholders Equity $220.2M $235.0M $129.6M
YoY Change 40.73% 81.33% 17.33%

Cashflow Statement

Concept 2022 Q1 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$25.93M -$80.85M -$17.72M
YoY Change 52.53% 14.16% 9.93%
Depreciation, Depletion And Amortization $500.0K $2.500M $730.0K
YoY Change -16.67% 4.17% 40.38%
Cash From Operating Activities -$22.11M -$78.48M -$19.83M
YoY Change 36.24% 46.26% 341.65%
INVESTING ACTIVITIES
Capital Expenditures $246.0K $1.713M -$470.0K
YoY Change -6.11% 27.65% 370.0%
Acquisitions
YoY Change
Other Investing Activities $19.91M -$128.0M -$14.13M
YoY Change 56.98% 129.31%
Cash From Investing Activities $19.66M -$129.7M -$14.60M
YoY Change 58.35% 126.94% 14500.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $348.0K $3.668M
YoY Change 274.19% 156.68%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 348.0K 186.5M 6.250M
YoY Change -99.27% 162.2% -2332.14%
NET CHANGE
Cash From Operating Activities -22.11M -78.48M -19.83M
Cash From Investing Activities 19.66M -129.7M -14.60M
Cash From Financing Activities 348.0K 186.5M 6.250M
Net Change In Cash -2.099M -21.64M -28.18M
YoY Change -104.8% -45.44% 478.64%
FREE CASH FLOW
Cash From Operating Activities -$22.11M -$78.48M -$19.83M
Capital Expenditures $246.0K $1.713M -$470.0K
Free Cash Flow -$22.35M -$80.19M -$19.36M
YoY Change 35.57% 45.81% 341.0%

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;"> </span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The preparation of financial statements in accordance with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amount of expenses during the reported periods. Estimates inherent in the preparation of these consolidated financial statements include, but are not limited to, estimates related to revenue recognition, accrued expenses, stock-based compensation expense, and income taxes. The Company bases its estimates on historical experience and other market specific or other relevant assumptions it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts and experience. Actual results could differ from those estimates or assumptions.</span>
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