$GATO
Gatos Silver, Inc.

2021 Q4 Form 10-Q Financial Statement

#000110465921135364 Filed on November 08, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.690M $5.994M $4.411M
YoY Change 74.06% 150.79% 82.27%
% of Gross Profit
Research & Development $260.0K $479.0K $694.0K
YoY Change -620.0% -35.27% -53.11%
% of Gross Profit
Depreciation & Amortization $40.00K $31.00K $4.000K
YoY Change -102.26% -94.83% -99.66%
% of Gross Profit
Operating Expenses $3.990M $6.504M $5.112M
YoY Change -419.2% 74.84% 0.43%
Operating Profit
YoY Change
Interest Expense $20.03M $1.600M $18.29M
YoY Change -697.91% -51.52% -324.71%
% of Operating Profit
Other Income/Expense, Net $1.590M -$95.00K $312.0K
YoY Change -189.33% -89.54% -140.78%
Pretax Income -$62.73M -$15.00M $13.49M
YoY Change 1516.75% 1160.42% -196.92%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$62.73M -$15.00M $13.49M
YoY Change 575.24% 1165.74% -211.09%
Net Earnings / Revenue
Basic Earnings Per Share -$0.22 $0.23
Diluted Earnings Per Share -$0.90 -$0.22 $0.22
COMMON SHARES
Basic Shares Outstanding 69.13M 67.33M 59.75M
Diluted Shares Outstanding 67.33M 60.62M

Balance Sheet

Concept 2021 Q4 2021 Q3 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.600M $12.40M $29.61M
YoY Change -95.6% 244.39% 1380.35%
Cash & Equivalents $6.616M $12.40M $29.61M
Short-Term Investments
Other Short-Term Assets $3.558M $1.058M $2.190M
YoY Change -8.28% -75.4% -35.59%
Inventory
Prepaid Expenses $2.976M
Receivables
Other Receivables
Total Short-Term Assets $11.77M $14.74M $37.18M
YoY Change -92.45% 63.73% 139.9%
LONG-TERM ASSETS
Property, Plant & Equipment $41.00K $48.00K
YoY Change -99.86% -99.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $333.4M $393.6M $247.3M
YoY Change 204.2% 274.15% 170.3%
Other Assets $35.00K $41.00K $48.00K
YoY Change -42.62% -86.33% -84.0%
Total Long-Term Assets $355.3M $393.6M $247.4M
YoY Change 224.05% 278.75% 173.37%
TOTAL ASSETS
Total Short-Term Assets $11.77M $14.74M $37.18M
Total Long-Term Assets $355.3M $393.6M $247.4M
Total Assets $367.1M $408.4M $284.6M
YoY Change 38.32% 261.62% 168.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $196.0K $263.0K $369.0K
YoY Change -65.0% 31.5% 269.0%
Accrued Expenses $623.0K $955.0K $2.059M
YoY Change -49.76% -76.13% -14.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.400M $4.043M $3.781M
YoY Change -65.0% -79.58% -70.92%
LONG-TERM LIABILITIES
Long-Term Debt $12.60M $12.58M $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $12.60M $12.58M $0.00
YoY Change 738.87% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.400M $4.043M $3.781M
Total Long-Term Liabilities $12.60M $12.58M $0.00
Total Liabilities $14.00M $16.63M $3.781M
YoY Change 250.0% -21.94% -73.92%
SHAREHOLDERS EQUITY
Retained Earnings -$190.9M -$150.6M -$135.6M
YoY Change 29.46%
Common Stock $117.0K $117.0K $108.0K
YoY Change 8.33%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.027M
YoY Change
Treasury Stock Shares $0.00 $0.00 $144.6K
Shareholders Equity $353.1M $391.8M $280.8M
YoY Change
Total Liabilities & Shareholders Equity $367.1M $408.4M $284.6M
YoY Change 38.32% 185.98% 109.08%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021 Q2
OPERATING ACTIVITIES
Net Income -$62.73M -$15.00M $13.49M
YoY Change 575.24% 1165.74% -211.09%
Depreciation, Depletion And Amortization $40.00K $31.00K $4.000K
YoY Change -102.26% -94.83% -99.66%
Cash From Operating Activities -$6.000M -$7.599M -$1.305M
YoY Change -7.55% 221.99% -72.93%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$144.8M -$2.775M
YoY Change -100.0% 17781.98% -44.39%
Cash From Investing Activities $0.00 -$144.8M -$2.775M
YoY Change -100.0% 17143.33% -44.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 200.0K 135.2M 2.651M
YoY Change -99.87% 2676.88% -74.04%
NET CHANGE
Cash From Operating Activities -6.000M -7.599M -1.305M
Cash From Investing Activities 0.000 -144.8M -2.775M
Cash From Financing Activities 200.0K 135.2M 2.651M
Net Change In Cash -5.800M -17.21M -1.429M
YoY Change -103.93% -1130.48% -457.25%
FREE CASH FLOW
Cash From Operating Activities -$6.000M -$7.599M -$1.305M
Capital Expenditures $0.00
Free Cash Flow -$7.599M
YoY Change 224.74%

Facts In Submission

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GATOS SILVER, INC.
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PaymentsOfFinancingCosts
7274000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
722000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
132873000
us-gaap Proceeds From Sale Of Treasury Stock
ProceedsFromSaleOfTreasuryStock
1027000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-441000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
260000
us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
307000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
139185000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
150146000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12398000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3627000
CY2020Q3 us-gaap Disposal Group Including Discontinued Operation Cash
DisposalGroupIncludingDiscontinuedOperationCash
619000
CY2021Q3 gato Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Continuing Operation
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsContinuingOperation
12398000
CY2020Q3 gato Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Continuing Operation
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsContinuingOperation
3008000
us-gaap Interest Paid Net
InterestPaidNet
67000
gato Deferred Financing Costs Included In Accounts Payable And Accrued Liabilities
DeferredFinancingCostsIncludedInAccountsPayableAndAccruedLiabilities
882000
gato Director Fess Converted To Deferred Share Units
DirectorFessConvertedToDeferredShareUnits
1141000
gato Director Fess Converted To Deferred Share Units
DirectorFessConvertedToDeferredShareUnits
61000
gato Conversion Of Related Party Accounts Receivable Into Los Gatos Joint Venture Capital Contribution
ConversionOfRelatedPartyAccountsReceivableIntoLosGatosJointVentureCapitalContribution
9448000
CY2021Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
82000
CY2021Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
4043000
CY2020Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
4024000
CY2021Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
263000
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
560000
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
955000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1240000
CY2021Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2565000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1964000
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
260000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
260000
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
700000000
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2021Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
489719
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
810333
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
4862000
CY2021Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
50000000
CY2021Q3 gato Line Of Credit Facility Contingent Increase Aggregate Maximum Borrowing Capacity
LineOfCreditFacilityContingentIncreaseAggregateMaximumBorrowingCapacity
100000000
CY2021Q3 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
13000000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
25000
CY2021Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
25000
CY2021Q3 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
417000
CY2021Q3 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
417000
us-gaap Interest Expense Debt
InterestExpenseDebt
82000
CY2021Q3 gato Payments For Interest Line Of Credit
PaymentsForInterestLineOfCredit
67000
CY2021Q3 gato Payments For Interest Line Of Credit
PaymentsForInterestLineOfCredit
67000
CY2021Q3 us-gaap Exploration Expense
ExplorationExpense
479000
CY2020Q3 us-gaap Exploration Expense
ExplorationExpense
134000
CY2021Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5994000
CY2020Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1965000
CY2021Q3 us-gaap Adjustment For Amortization
AdjustmentForAmortization
31000
CY2020Q3 us-gaap Adjustment For Amortization
AdjustmentForAmortization
7000
CY2021Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1600000
CY2020Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3447000
CY2021Q3 gato Debt Instrument Closing Fee Amount
DebtInstrumentClosingFeeAmount
10000000
CY2021Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
-95000
CY2020Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
-908000
CY2021Q3 us-gaap Assets
Assets
408385000
CY2020Q3 us-gaap Assets
Assets
112933000
us-gaap Exploration Expense
ExplorationExpense
1397000
us-gaap Exploration Expense
ExplorationExpense
516000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14008000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4345000
us-gaap Adjustment For Amortization
AdjustmentForAmortization
45000
us-gaap Adjustment For Amortization
AdjustmentForAmortization
24000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
22592000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-18069000
gato Debt Instrument Closing Fee Amount
DebtInstrumentClosingFeeAmount
10000000
us-gaap Gain Loss On Investments
GainLossOnInvestments
-270000
us-gaap Gain Loss On Investments
GainLossOnInvestments
-3253000
CY2021Q3 us-gaap Assets
Assets
408385000
CY2020Q3 us-gaap Assets
Assets
112933000

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