2022 Q4 Form 10-Q Financial Statement

#000095017022022935 Filed on November 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.755M $3.128M $3.191M
YoY Change -17.83% -1.97% 26.63%
% of Gross Profit
Research & Development $10.77M $10.49M $9.748M
YoY Change 6.48% 7.65% 27.41%
% of Gross Profit
Depreciation & Amortization $21.00K $6.000K $8.000K
YoY Change 200.0% -25.0%
% of Gross Profit
Operating Expenses $13.53M $13.62M $12.94M
YoY Change 0.42% 5.28% 27.28%
Operating Profit -$13.62M -$12.94M
YoY Change 5.28% 27.28%
Interest Expense -$544.0K -$108.0K $243.0K
YoY Change -1022.03% -144.44% -116.31%
% of Operating Profit
Other Income/Expense, Net -$108.0K $243.0K
YoY Change -144.44% -116.36%
Pretax Income -$14.07M -$13.73M -$12.70M
YoY Change 4.92% 8.14% 8.98%
Income Tax
% Of Pretax Income
Net Earnings -$14.07M -$13.73M -$12.70M
YoY Change 4.92% 8.14% 8.97%
Net Earnings / Revenue
Basic Earnings Per Share -$0.54 -$0.50
Diluted Earnings Per Share -$0.55 -$0.54 -$502.6K
COMMON SHARES
Basic Shares Outstanding 25.58M 25.40M 25.26M
Diluted Shares Outstanding 25.49M 25.26M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.22M $69.08M $102.1M
YoY Change -39.89% -32.37% 19.75%
Cash & Equivalents $32.79M $28.34M $66.16M
Short-Term Investments $27.44M $40.75M $35.99M
Other Short-Term Assets $857.0K $291.0K $365.0K
YoY Change -58.44% -20.27% -63.5%
Inventory
Prepaid Expenses
Receivables $1.450M $732.0K $3.330M
Other Receivables $1.379M $1.092M $1.169M
Total Short-Term Assets $63.90M $71.20M $107.0M
YoY Change -41.96% -33.46% 11.34%
LONG-TERM ASSETS
Property, Plant & Equipment $357.0K $338.0K $214.0K
YoY Change 75.86% 57.94% -76.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.832M $6.829M $25.49M
YoY Change -35.54% -73.21%
Other Assets $2.279M $2.807M $1.364M
YoY Change 12.38% 105.79% 582.0%
Total Long-Term Assets $9.288M $10.83M $28.87M
YoY Change -23.33% -62.51% 1305.74%
TOTAL ASSETS
Total Short-Term Assets $63.90M $71.20M $107.0M
Total Long-Term Assets $9.288M $10.83M $28.87M
Total Assets $73.19M $82.03M $135.9M
YoY Change -40.12% -39.63% 38.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.350M $1.907M $1.981M
YoY Change 118.81% -3.74% -55.61%
Accrued Expenses $7.757M $6.951M $3.762M
YoY Change 157.45% 84.77% -1.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.10M $8.900M $5.700M
YoY Change 146.67% 56.14% -31.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $328.0K $440.0K $511.0K
YoY Change -26.79% -13.89% -14.83%
Total Long-Term Liabilities $328.0K $440.0K $511.0K
YoY Change -26.79% -13.89% -14.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.10M $8.900M $5.700M
Total Long-Term Liabilities $328.0K $440.0K $511.0K
Total Liabilities $11.44M $9.298M $6.254M
YoY Change 129.07% 48.67% -29.49%
SHAREHOLDERS EQUITY
Retained Earnings -$217.7M -$203.7M -$142.7M
YoY Change 39.45% 42.75% 53.8%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $61.75M $72.73M $129.6M
YoY Change
Total Liabilities & Shareholders Equity $73.19M $82.03M $135.9M
YoY Change -40.12% -39.63% 38.43%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$14.07M -$13.73M -$12.70M
YoY Change 4.92% 8.14% 8.97%
Depreciation, Depletion And Amortization $21.00K $6.000K $8.000K
YoY Change 200.0% -25.0%
Cash From Operating Activities -$11.45M -$9.847M -$9.159M
YoY Change -35.79% 7.51% 6.75%
INVESTING ACTIVITIES
Capital Expenditures $41.00K -$138.0K -$47.00K
YoY Change 925.0% 193.62%
Acquisitions
YoY Change
Other Investing Activities $14.37M $8.450M $7.094M
YoY Change -0.26% 19.11%
Cash From Investing Activities $14.33M $8.312M $7.047M
YoY Change -0.57% 17.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 65.00K 424.0K 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -11.45M -9.847M -9.159M
Cash From Investing Activities 14.33M 8.312M 7.047M
Cash From Financing Activities 65.00K 424.0K 0.000
Net Change In Cash 2.947M -1.111M -2.112M
YoY Change -186.25% -47.4% -104.46%
FREE CASH FLOW
Cash From Operating Activities -$11.45M -$9.847M -$9.159M
Capital Expenditures $41.00K -$138.0K -$47.00K
Free Cash Flow -$11.49M -$9.709M -$9.112M
YoY Change -35.57% 6.55%

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CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2022Q3 us-gaap Depreciation
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CY2021Q3 us-gaap Depreciation
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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OperatingLeaseWeightedAverageDiscountRatePercent
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CY2022Q3 us-gaap Prepaid Insurance
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CY2022Q3 us-gaap Other Prepaid Expense Current
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CY2021Q4 us-gaap Other Prepaid Expense Current
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334000
CY2022Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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CY2022Q3 glto Operating Lease Rent Expense
OperatingLeaseRentExpense
100000
glto Operating Lease Rent Expense
OperatingLeaseRentExpense
400000
CY2021Q3 glto Operating Lease Rent Expense
OperatingLeaseRentExpense
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glto Operating Lease Rent Expense
OperatingLeaseRentExpense
400000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
125000
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
130000
us-gaap Operating Lease Cost
OperatingLeaseCost
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us-gaap Operating Lease Cost
OperatingLeaseCost
374000
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
134000
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
142000
us-gaap Operating Lease Payments
OperatingLeasePayments
368000
us-gaap Operating Lease Payments
OperatingLeasePayments
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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134000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
269000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
47000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
74000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
857000
CY2022Q3 glto Contract Research And Development Costs Current
ContractResearchAndDevelopmentCostsCurrent
4544000
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CY2022Q3 us-gaap Employee Related Liabilities Current
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1549000
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601000
CY2022Q3 us-gaap Operating Lease Liability Current
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418000
CY2021Q4 us-gaap Operating Lease Liability Current
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CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
440000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
438000
CY2022Q3 us-gaap Accrued Liabilities Current
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6951000
CY2021Q4 us-gaap Accrued Liabilities Current
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M18D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1357655
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1827750
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.98
glto Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodIntrinsicValue
111013
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
16250
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.24
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5810228
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.41
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y1M6D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2400
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
5506086
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
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CY2022Q3 us-gaap Allocated Share Based Compensation Expense
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CY2021Q3 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.017
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.007
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.900
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.905
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-13730000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-12696000
us-gaap Net Income Loss
NetIncomeLoss
-47555000
us-gaap Net Income Loss
NetIncomeLoss
-38343000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25491786
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25491786
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25261832
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25261832
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25342153
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25342153
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25261832
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25261832
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.54
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.54
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.50
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.50

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