2022 Q1 Form 10-Q Financial Statement

#000155837022007875 Filed on May 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $45.42M $27.27M
YoY Change 66.56% 23.11%
Cost Of Revenue $26.09M $18.69M
YoY Change 39.59% -15.11%
Gross Profit $19.32M $8.575M
YoY Change 125.34% 6599.22%
Gross Profit Margin 42.55% 31.45%
Selling, General & Admin $2.673M $2.065M
YoY Change 29.44% -9.23%
% of Gross Profit 13.83% 24.08%
Research & Development $2.305M $1.207M
YoY Change 90.97% 23.42%
% of Gross Profit 11.93% 14.08%
Depreciation & Amortization $6.003M $3.437M
YoY Change 74.66% -43.66%
% of Gross Profit 31.07% 40.08%
Operating Expenses $4.978M $3.272M
YoY Change 52.14% 0.58%
Operating Profit $9.370M $5.121M
YoY Change 82.97% -211.57%
Interest Expense -$538.0K -$134.0K
YoY Change 301.49% -90.93%
% of Operating Profit -5.74% -2.62%
Other Income/Expense, Net -$838.0K $314.0K
YoY Change -366.88% -121.43%
Pretax Income $9.370M $5.121M
YoY Change 82.97% -211.57%
Income Tax $5.400M $2.600M
% Of Pretax Income 57.63% 50.77%
Net Earnings $4.019M $2.527M
YoY Change 59.04% -180.97%
Net Earnings / Revenue 8.85% 9.27%
Basic Earnings Per Share $0.05 $0.03
Diluted Earnings Per Share $0.05 $0.03
COMMON SHARES
Basic Shares Outstanding 88.34M 74.41M
Diluted Shares Outstanding 88.62M 74.76M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.18M $27.23M
YoY Change 14.49% 48.26%
Cash & Equivalents $31.18M $27.23M
Short-Term Investments
Other Short-Term Assets $448.0K $527.0K
YoY Change -14.99% -90.2%
Inventory $12.78M $11.58M
Prepaid Expenses
Receivables $11.65M $3.533M
Other Receivables $0.00 $527.0K
Total Short-Term Assets $60.68M $44.49M
YoY Change 36.39% -15.59%
LONG-TERM ASSETS
Property, Plant & Equipment $155.5M $62.97M
YoY Change 147.02% -51.47%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $365.0K $44.00K
YoY Change 729.55% -99.68%
Total Long-Term Assets $155.9M $63.36M
YoY Change 146.07% -55.81%
TOTAL ASSETS
Total Short-Term Assets $60.68M $44.49M
Total Long-Term Assets $155.9M $63.36M
Total Assets $216.6M $107.8M
YoY Change 100.82% -45.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.56M $7.725M
YoY Change 36.67% -36.11%
Accrued Expenses $7.463M $2.087M
YoY Change 257.59% -74.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $28.32M $12.03M
YoY Change 135.34% -50.87%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $2.014M $364.0K
YoY Change 453.3% -93.51%
Total Long-Term Liabilities $64.55M $364.0K
YoY Change 17633.24% -94.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.32M $12.03M
Total Long-Term Liabilities $64.55M $364.0K
Total Liabilities $92.87M $15.43M
YoY Change 502.02% -50.21%
SHAREHOLDERS EQUITY
Retained Earnings $20.70M $14.44M
YoY Change 43.38%
Common Stock $89.00K $75.00K
YoY Change 18.67%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.884M $5.884M
YoY Change 0.0%
Treasury Stock Shares $336.4K $336.4K
Shareholders Equity $123.7M $92.42M
YoY Change
Total Liabilities & Shareholders Equity $216.6M $107.8M
YoY Change 100.82% -45.0%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $4.019M $2.527M
YoY Change 59.04% -180.97%
Depreciation, Depletion And Amortization $6.003M $3.437M
YoY Change 74.66% -43.66%
Cash From Operating Activities $4.230M $6.831M
YoY Change -38.08% 10.09%
INVESTING ACTIVITIES
Capital Expenditures $5.949M $4.320M
YoY Change 37.71% 24.07%
Acquisitions
YoY Change
Other Investing Activities $533.0K $3.000K
YoY Change 17666.67% -100.09%
Cash From Investing Activities -$5.416M -$4.317M
YoY Change 25.46% 24.02%
FINANCING ACTIVITIES
Cash Dividend Paid $900.0K $700.0K
YoY Change 28.57%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.129M -579.0K
YoY Change 94.99% -105.8%
NET CHANGE
Cash From Operating Activities 4.230M 6.831M
Cash From Investing Activities -5.416M -4.317M
Cash From Financing Activities -1.129M -579.0K
Net Change In Cash -2.537M 1.825M
YoY Change -239.01% -76.91%
FREE CASH FLOW
Cash From Operating Activities $4.230M $6.831M
Capital Expenditures $5.949M $4.320M
Free Cash Flow -$1.719M $2.511M
YoY Change -168.46% -7.79%

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CY2021Q1 us-gaap Asset Retirement Obligation Revision Of Estimate
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CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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827000
CY2021Q4 goro Inventory Dore
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452000
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CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022Q1 goro Mining Duty On Sale Of Gold And Silver
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0.10
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0.05
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0.05
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0
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177000
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2285000
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CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2021Q4 us-gaap Property Plant And Equipment Net
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CY2022Q1 goro Accrued Capital Expenditures
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200000
CY2021Q4 goro Accrued Capital Expenditures
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1700000
CY2022Q1 us-gaap Cost Depreciation Amortization And Depletion
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CY2021Q1 us-gaap Cost Depreciation Amortization And Depletion
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CY2022Q1 us-gaap Accrued Royalties Current
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2521000
CY2021Q4 us-gaap Accrued Royalties Current
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1743000
CY2022Q1 us-gaap Sales And Excise Tax Payable Current
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1082000
CY2022Q1 us-gaap Accrued Employee Benefits Current
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3035000
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1888000
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825000
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1100000
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7463000
CY2021Q4 us-gaap Accrued Liabilities Current
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4731000
CY2022Q1 goro Accrued Noncurrent Labor Obligation
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1026000
CY2021Q4 goro Accrued Noncurrent Labor Obligation
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920000
CY2022Q1 us-gaap Deferred Compensation Sharebased Arrangements Liability Classified Noncurrent
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783000
CY2021Q4 us-gaap Deferred Compensation Sharebased Arrangements Liability Classified Noncurrent
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206000
CY2022Q1 goro Other Liabilities Noncurrent Others
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205000
CY2021Q4 goro Other Liabilities Noncurrent Others
OtherLiabilitiesNoncurrentOthers
826000
CY2022Q1 us-gaap Other Liabilities Noncurrent
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2014000
CY2021Q4 us-gaap Other Liabilities Noncurrent
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1952000
CY2022Q1 us-gaap Deferred Revenue Noncurrent
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42774000
CY2021Q4 us-gaap Deferred Revenue Noncurrent
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42560000
CY2021Q4 goro Interest Expenses Discount Rate
InterestExpensesDiscountRate
0.080
CY2021Q4 goro Reclamation Liabilities
ReclamationLiabilities
1833000
CY2020Q4 goro Reclamation Liabilities
ReclamationLiabilities
1890000
CY2022Q1 goro Mine Reclamation Foreign Currency Translation
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54000
CY2021 goro Mine Reclamation Foreign Currency Translation
MineReclamationForeignCurrencyTranslation
-57000
CY2022Q1 goro Reclamation Liabilities
ReclamationLiabilities
1887000
CY2021Q4 goro Reclamation Liabilities
ReclamationLiabilities
1833000
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1279000
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
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CY2022Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
25000
CY2021 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
109000
CY2022Q1 us-gaap Asset Retirement Obligation Foreign Currency Translation Gain Loss
AssetRetirementObligationForeignCurrencyTranslationGainLoss
39000
CY2021 us-gaap Asset Retirement Obligation Foreign Currency Translation Gain Loss
AssetRetirementObligationForeignCurrencyTranslationGainLoss
-38000
CY2022Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1343000
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1279000
CY2022Q1 us-gaap Mine Reclamation And Closing Liability Noncurrent
MineReclamationAndClosingLiabilityNoncurrent
3230000
CY2021Q4 us-gaap Mine Reclamation And Closing Liability Noncurrent
MineReclamationAndClosingLiabilityNoncurrent
3112000
CY2022Q1 goro Reclamation And Remediation Discount Rate
ReclamationAndRemediationDiscountRate
0.08
CY2022Q1 us-gaap Other Commitment
OtherCommitment
900000
CY2021Q4 us-gaap Other Commitment
OtherCommitment
400000
CY2022Q1 goro Common Stock Dividends Per Share Declared And Paid
CommonStockDividendsPerShareDeclaredAndPaid
0.01
CY2022Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
900000
CY2021Q1 goro Common Stock Dividends Per Share Declared And Paid
CommonStockDividendsPerShareDeclaredAndPaid
0.01
CY2021Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
700000
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100000000
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2022Q1 goro Embedded Derivatives Weight Under Unsettled Sales Contract Value
EmbeddedDerivativesWeightUnderUnsettledSalesContractValue
39971000
CY2022Q1 goro Defined Contribution Plan Maximum Percentage Amount Of Employee S Gross Pay That Employee Can Contribute
DefinedContributionPlanMaximumPercentageAmountOfEmployeeSGrossPayThatEmployeeCanContribute
0.50
CY2021Q2 goro Percentage Of Statutory Profit Sharing Payable
PercentageOfStatutoryProfitSharingPayable
0.10
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
5000000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
320816
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
600000
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
265000
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
125000
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.32
CY2022Q1 goro Unrealized Investment Gains Losses
UnrealizedInvestmentGainsLosses
36000
CY2021Q1 goro Unrealized Investment Gains Losses
UnrealizedInvestmentGainsLosses
-66000
CY2022Q1 goro Interest On Streaming Liabilities
InterestOnStreamingLiabilities
176000
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-124000
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
448000
CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-838000
CY2021Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
314000
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2700000
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3900000
CY2022Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
149000
CY2021Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
227000
CY2022Q1 goro Share Based Compensation Restricted Stock Units
ShareBasedCompensationRestrictedStockUnits
48000
CY2021Q1 goro Share Based Compensation Restricted Stock Units
ShareBasedCompensationRestrictedStockUnits
-86000
CY2022Q1 goro Deferred Stock Units
DeferredStockUnits
577000
CY2021Q1 goro Deferred Stock Units
DeferredStockUnits
343000
CY2022Q1 us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
774000
CY2021Q1 us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
484000
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-445000
CY2021Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-241000
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-129000
CY2021Q1 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
173000
CY2022Q1 goro Average Share Price
AverageSharePrice
4.08
CY2021Q1 goro Average Share Price
AverageSharePrice
7.20
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
4019000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
2527000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88338774
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74405031
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
278094
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
356851
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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88616868
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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74761882
CY2022Q1 us-gaap Earnings Per Share Basic
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0.05
CY2021Q1 us-gaap Earnings Per Share Basic
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0.03
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
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1400000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022Q1 us-gaap Gain Loss On Sale Of Derivatives
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866000
CY2022Q1 us-gaap Unrealized Gain Loss On Derivatives
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1168000
CY2022Q1 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
2034000
CY2021Q1 us-gaap Gain Loss On Sale Of Derivatives
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91000
CY2021Q1 us-gaap Unrealized Gain Loss On Derivatives
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-126000
CY2021Q1 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
-35000
CY2022Q1 goro Unrealized Gain Loss On Gold And Silver Rounds Bullion
UnrealizedGainLossOnGoldAndSilverRoundsBullion
70000
CY2021Q1 goro Unrealized Gain Loss On Gold And Silver Rounds Bullion
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-66000
CY2022Q1 goro Realized Gain On Gold And Silver Rounds Or Bullion
RealizedGainOnGoldAndSilverRoundsOrBullion
-34000
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-445000
CY2021Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-241000
CY2022Q1 goro Unrealized Gain Loss On Zinc Zero Cost Collar
UnrealizedGainLossOnZincZeroCostCollar
2509000
CY2022Q1 goro Other Adjustments
OtherAdjustments
367000
CY2021Q1 goro Other Adjustments
OtherAdjustments
-33000
CY2022Q1 us-gaap Other Noncash Income Expense
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-2551000
CY2021Q1 us-gaap Other Noncash Income Expense
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-340000
CY2022Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2022Q1 us-gaap Assets Current
AssetsCurrent
60683000
CY2022Q1 us-gaap Assets Noncurrent
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155900000
CY2022Q1 us-gaap Assets
Assets
216583000
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28319000
CY2022Q1 us-gaap Liabilities Noncurrent
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64549000
CY2022Q1 us-gaap Stockholders Equity
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123715000
CY2022Q1 us-gaap Liabilities And Stockholders Equity
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216583000
CY2021Q4 us-gaap Assets Current
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58915000
CY2021Q4 us-gaap Assets Noncurrent
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CY2021Q4 us-gaap Assets
Assets
215762000
CY2021Q4 us-gaap Liabilities Current
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29659000
CY2021Q4 us-gaap Liabilities Noncurrent
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65353000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
120750000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
215762000

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