2022 Q4 Form 20-F Financial Statement
#000117891323001273 Filed on March 31, 2023
Income Statement
| Concept | 2022 Q4 | 2022 | 2021 Q4 |
|---|---|---|---|
| Revenue | $139.9M | $409.0M | $82.72M |
| YoY Change | 69.09% | 66.77% | |
| Cost Of Revenue | $84.02M | $250.9M | $50.06M |
| YoY Change | 67.84% | 63.07% | |
| Gross Profit | $55.84M | $158.2M | $32.66M |
| YoY Change | 71.01% | 73.0% | |
| Gross Profit Margin | 39.93% | 38.67% | 39.48% |
| Selling, General & Admin | $67.25M | $266.3M | $44.55M |
| YoY Change | 50.97% | 109.14% | |
| % of Gross Profit | 120.43% | 168.35% | 136.42% |
| Research & Development | $23.70M | $81.21M | $10.30M |
| YoY Change | 130.12% | 172.86% | |
| % of Gross Profit | 42.44% | 51.34% | 31.54% |
| Depreciation & Amortization | $7.043M | $29.42M | $121.0K |
| YoY Change | 5720.66% | 8787.61% | |
| % of Gross Profit | 12.61% | 18.6% | 0.37% |
| Operating Expenses | $90.95M | $347.5M | $54.85M |
| YoY Change | 65.83% | 121.21% | |
| Operating Profit | -$35.11M | -$189.3M | -$22.19M |
| YoY Change | 58.21% | 188.35% | |
| Interest Expense | |||
| YoY Change | |||
| % of Operating Profit | |||
| Other Income/Expense, Net | -$217.0K | -$12.09M | -$658.0K |
| YoY Change | -67.02% | 41.11% | |
| Pretax Income | -$35.32M | -$201.4M | -$22.85M |
| YoY Change | 54.6% | 171.35% | |
| Income Tax | -$6.853M | -$6.012M | -$357.0K |
| % Of Pretax Income | |||
| Net Earnings | -$28.47M | -$195.4M | -$22.49M |
| YoY Change | 26.59% | 160.77% | |
| Net Earnings / Revenue | -20.36% | -47.77% | -27.19% |
| Basic Earnings Per Share | -$1.24 | ||
| Diluted Earnings Per Share | -$0.18 | -$1.24 | -$150.1K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 161.3M shares | 157.7M shares | |
| Diluted Shares Outstanding | 157.7M shares |
Balance Sheet
| Concept | 2022 Q4 | 2022 | 2021 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $228.2M | $228.2M | $509.1M |
| YoY Change | -55.17% | -56.04% | |
| Cash & Equivalents | $165.0M | $165.0M | $448.6M |
| Short-Term Investments | $63.17M | $63.17M | $60.45M |
| Other Short-Term Assets | $51.90M | $51.90M | $46.57M |
| YoY Change | 11.46% | 11.46% | |
| Inventory | |||
| Prepaid Expenses | $7.847M | $6.271M | |
| Receivables | $16.42M | $16.42M | $9.185M |
| Other Receivables | $78.13M | $78.13M | $57.63M |
| Total Short-Term Assets | $374.7M | $374.7M | $622.5M |
| YoY Change | -39.81% | -39.81% | |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $30.00M | $30.00M | $23.38M |
| YoY Change | 28.34% | 28.34% | |
| Goodwill | $367.6M | $0.00 | |
| YoY Change | |||
| Intangibles | $98.46M | ||
| YoY Change | |||
| Long-Term Investments | $3.225M | $3.225M | $2.219M |
| YoY Change | 45.34% | 45.34% | |
| Other Assets | $288.7M | $288.7M | $198.1M |
| YoY Change | 45.75% | 45.75% | |
| Total Long-Term Assets | $787.9M | $787.9M | $223.7M |
| YoY Change | 252.29% | 252.29% | |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $374.7M | $374.7M | $622.5M |
| Total Long-Term Assets | $787.9M | $787.9M | $223.7M |
| Total Assets | $1.163B | $1.163B | $846.1M |
| YoY Change | 37.4% | 37.4% | |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $52.22M | $52.22M | $24.06M |
| YoY Change | 117.0% | 117.0% | |
| Accrued Expenses | $79.24M | $79.24M | $49.88M |
| YoY Change | 58.87% | 99.18% | |
| Deferred Revenue | $9.163M | $7.426M | |
| YoY Change | 23.39% | ||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $209.6M | $209.6M | $131.6M |
| YoY Change | 59.29% | 59.29% | |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $18.34M | $18.34M | $18.80M |
| YoY Change | -2.46% | -2.46% | |
| Total Long-Term Liabilities | $18.34M | $18.34M | $18.80M |
| YoY Change | -2.46% | -2.46% | |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $209.6M | $209.6M | $131.6M |
| Total Long-Term Liabilities | $18.34M | $18.34M | $18.80M |
| Total Liabilities | $234.5M | $234.5M | $150.4M |
| YoY Change | 55.93% | 55.93% | |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$323.0M | -$127.6M | |
| YoY Change | 153.09% | ||
| Common Stock | $0.00 | $0.00 | |
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $928.1M | $928.1M | $695.8M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $1.163B | $1.163B | $846.1M |
| YoY Change | 37.4% | 37.4% |
Cashflow Statement
| Concept | 2022 Q4 | 2022 | 2021 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$28.47M | -$195.4M | -$22.49M |
| YoY Change | 26.59% | 160.77% | |
| Depreciation, Depletion And Amortization | $7.043M | $29.42M | $121.0K |
| YoY Change | 5720.66% | 8787.61% | |
| Cash From Operating Activities | $60.72M | $81.49M | $23.97M |
| YoY Change | 153.32% | 417.43% | |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $370.0K | $8.352M | -$2.259M |
| YoY Change | -116.38% | -389.7% | |
| Acquisitions | $317.5M | ||
| YoY Change | |||
| Other Investing Activities | $14.17M | -$321.7M | $40.82M |
| YoY Change | -65.29% | 755.58% | |
| Cash From Investing Activities | $13.80M | -$330.1M | $38.56M |
| YoY Change | -64.21% | 715.29% | |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $142.0K | $1.239M | $613.0K |
| YoY Change | -76.84% | -99.69% | |
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 142.0K | 1.239M | 613.0K |
| YoY Change | -76.84% | -99.69% | |
| NET CHANGE | |||
| Cash From Operating Activities | 60.72M | 81.49M | 23.97M |
| Cash From Investing Activities | 13.80M | -330.1M | 38.56M |
| Cash From Financing Activities | 142.0K | 1.239M | 613.0K |
| Net Change In Cash | 74.67M | -247.4M | 63.14M |
| YoY Change | 18.25% | -166.17% | |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $60.72M | $81.49M | $23.97M |
| Capital Expenditures | $370.0K | $8.352M | -$2.259M |
| Free Cash Flow | $60.35M | $73.13M | $26.23M |
| YoY Change | 130.1% | 292.53% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2022 | dei |
Auditor Location
AuditorLocation
|
Tel-Aviv, Israel | |
| CY2021Q4 | us-gaap |
Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
|
0 | usd |
| CY2022Q4 | us-gaap |
Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
|
466024000 | usd |
| CY2021Q4 | us-gaap |
Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
|
18158000 | usd |
| CY2022Q4 | us-gaap |
Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
|
30809000 | usd |
| CY2021Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
| CY2022Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
| CY2020 | us-gaap |
Related Party Costs
RelatedPartyCosts
|
53861000 | usd |
| CY2021 | us-gaap |
Related Party Costs
RelatedPartyCosts
|
90315000 | usd |
| CY2022 | us-gaap |
Related Party Costs
RelatedPartyCosts
|
129629000 | usd |
| CY2020 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
3189000 | usd |
| CY2021 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
0 | usd |
| CY2022 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
0 | usd |
| CY2020 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.03 | |
| CY2021 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.74 | |
| CY2022 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.24 | |
| CY2020 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.03 | |
| CY2021 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.74 | |
| CY2022 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-1.24 | |
| CY2020 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
21120208 | shares |
| CY2021 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
101737026 | shares |
| CY2022 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
157691173 | shares |
| CY2020 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
28637801 | shares |
| CY2021 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
101737026 | shares |
| CY2022 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
157691173 | shares |
| CY2020 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
539000 | usd |
| CY2020 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
111000 | usd |
| CY2020 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
3956000 | usd |
| CY2020 | us-gaap |
Net Income Loss
NetIncomeLoss
|
3914000 | usd |
| CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-44510000 | usd |
| CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
928121000 | usd |
| CY2020 | us-gaap |
Increase Decrease In Long Term Receivables Current
IncreaseDecreaseInLongTermReceivablesCurrent
|
150000 | usd |
| CY2021 | us-gaap |
Increase Decrease In Long Term Receivables Current
IncreaseDecreaseInLongTermReceivablesCurrent
|
0 | usd |
| CY2022 | us-gaap |
Increase Decrease In Long Term Receivables Current
IncreaseDecreaseInLongTermReceivablesCurrent
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1279000 | usd |
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Proceeds From Sale Of Short Term Investments
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|
0 | usd |
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Proceeds From Sale Of Short Term Investments
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Proceeds From Sale Of Short Term Investments
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74400000 | usd |
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Payments To Acquire Longterm Investments
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456000 | usd |
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Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
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20000 | usd |
| CY2022 | us-gaap |
Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
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| CY2020 | us-gaap |
Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
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58821000 | usd |
| CY2021 | us-gaap |
Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
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Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
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0 | usd |
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Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
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20434000 | usd |
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Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
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18812000 | usd |
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Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
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17607000 | usd |
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Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
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17607000 | usd |
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Finitelived Intangible Asset Expected Amortization After Year Four
FinitelivedIntangibleAssetExpectedAmortizationAfterYearFour
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23998000 | usd |
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Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
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Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
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Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
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Employee Benefits And Share Based Compensation Noncash
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809000 | usd |
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Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
3260000 | usd |
| CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
3024000 | usd |
| CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
2674000 | usd |
| CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
2653000 | usd |
| CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
2185000 | usd |
| CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-6012000 | usd |
| CY2022 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
0 | usd |
| CY2022Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
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241888000 | usd |
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Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
3189000 | usd |
| CY2021 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
0 | usd |
| CY2020 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
21120208 | shares |
| CY2021 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
101737026 | shares |
| CY2022 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
157691173 | shares |
| CY2020 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
7517593 | shares |
| CY2021 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares |
| CY2022 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares |
| CY2022Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
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18738000 | usd |
| CY2022Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
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16000 | usd |
| CY2022Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
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1941000 | usd |
| CY2022Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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16813000 | usd |
| CY2021Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
18763000 | usd |
| CY2021Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
69000 | usd |
| CY2021Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
228000 | usd |
| CY2021 | us-gaap |
Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
|
-140000 | usd |
| CY2021Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
18464000 | usd |
