2021 Q4 Form 10-Q Financial Statement

#000172811721000104 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 $10.71M $12.46M $11.26M
YoY Change -32.53% 8.81% -3.4%
% of Gross Profit
Research & Development $40.93M $43.19M $44.32M
YoY Change 5.2% 3.21% 14.56%
% of Gross Profit
Depreciation & Amortization $448.0K $450.0K $422.0K
YoY Change 21.08% 25.0% 20.57%
% of Gross Profit
Operating Expenses $51.65M $55.66M $55.60M
YoY Change -5.74% 3.91% -14.91%
Operating Profit -$55.66M -$55.60M
YoY Change 3.91% -14.91%
Interest Expense -$4.701M $4.889M $4.834M
YoY Change 34.31% 3.69% 94.06%
% of Operating Profit
Other Income/Expense, Net $78.00K -$4.583M -$4.236M
YoY Change -107.65% 8.01% 176.68%
Pretax Income -$56.28M -$60.25M -$59.83M
YoY Change -12.87% 4.22% -10.52%
Income Tax
% Of Pretax Income
Net Earnings -$56.28M -$60.25M -$59.83M
YoY Change -12.87% 4.21% -10.52%
Net Earnings / Revenue
Basic Earnings Per Share -$0.80 -$0.80
Diluted Earnings Per Share -$744.5K -$0.80 -$0.80
COMMON SHARES
Basic Shares Outstanding 76.46M shares 75.00M shares 74.67M shares
Diluted Shares Outstanding 75.00M shares 74.67M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $325.2M $366.0M $405.9M
YoY Change -36.56% -34.1% -32.39%
Cash & Equivalents $183.4M $213.5M $342.5M
Short-Term Investments $141.8M $152.5M $63.47M
Other Short-Term Assets $6.562M $7.972M $11.07M
YoY Change -32.35% -26.19% 38.35%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $331.8M $374.0M $417.0M
YoY Change -36.48% -33.95% -31.46%
LONG-TERM ASSETS
Property, Plant & Equipment $5.320M $5.621M $5.632M
YoY Change -3.87% -1.68% -2.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.080M $1.114M $1.070M
YoY Change 5.16% 29.38% 78.33%
Total Long-Term Assets $11.88M $13.05M $15.52M
YoY Change -30.59% -27.41% -7.05%
TOTAL ASSETS
Total Short-Term Assets $331.8M $374.0M $417.0M
Total Long-Term Assets $11.88M $13.05M $15.52M
Total Assets $343.7M $387.0M $432.5M
YoY Change -36.29% -33.75% -30.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.244M $1.185M $895.0K
YoY Change -56.79% 36.99% 347.5%
Accrued Expenses $20.41M $20.91M $15.88M
YoY Change -1.45% 7.19% -41.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $39.86M $35.90M $29.98M
YoY Change 3.13% 10.09% 9.03%
LONG-TERM LIABILITIES
Long-Term Debt $29.08M $28.99M $28.91M
YoY Change 1.17% 1.14% 0.94%
Other Long-Term Liabilities $3.218M $3.964M $6.165M
YoY Change -58.21% -53.91% -21.96%
Total Long-Term Liabilities $29.08M $28.99M $28.91M
YoY Change 1.17% 1.14% 0.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $39.86M $35.90M $29.98M
Total Long-Term Liabilities $29.08M $28.99M $28.91M
Total Liabilities $222.2M $217.2M $211.8M
YoY Change 1.57% 2.43% 3.45%
SHAREHOLDERS EQUITY
Retained Earnings -$811.5M -$755.3M -$695.0M
YoY Change 40.53% 47.26%
Common Stock $933.0M $924.9M $915.4M
YoY Change 3.94% 4.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $121.5M $169.8M $220.7M
YoY Change
Total Liabilities & Shareholders Equity $343.7M $387.0M $432.5M
YoY Change -36.29% -33.75% -30.81%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021 Q2
OPERATING ACTIVITIES
Net Income -$56.28M -$60.25M -$59.83M
YoY Change -12.87% 4.21% -10.52%
Depreciation, Depletion And Amortization $448.0K $450.0K $422.0K
YoY Change 21.08% 25.0% 20.57%
Cash From Operating Activities -$40.51M -$42.04M -$47.45M
YoY Change 10.26% -6.44% 11.93%
INVESTING ACTIVITIES
Capital Expenditures -$83.00K -$523.0K -$140.0K
YoY Change -66.8% 74.33% -68.18%
Acquisitions
YoY Change
Other Investing Activities $10.53M -$89.24M -$49.94M
YoY Change -82.84% -540.47% -146.81%
Cash From Investing Activities $10.44M -$89.76M -$50.08M
YoY Change -82.91% -549.71% -147.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 371.0K 1.913M 275.0K
YoY Change 48.4% 114.94% -99.91%
NET CHANGE
Cash From Operating Activities -40.51M -42.04M -47.45M
Cash From Investing Activities 10.44M -89.76M -50.08M
Cash From Financing Activities 371.0K 1.913M 275.0K
Net Change In Cash -29.69M -129.9M -97.25M
YoY Change -220.66% 439.39% -125.96%
FREE CASH FLOW
Cash From Operating Activities -$40.51M -$42.04M -$47.45M
Capital Expenditures -$83.00K -$523.0K -$140.0K
Free Cash Flow -$40.43M -$41.51M -$47.31M
YoY Change 10.79% -6.99% 12.77%

Facts In Submission

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us-gaap Share Based Compensation
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goss In Process Research And Development Expenses
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256000 USD
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18080000 USD
us-gaap Payments To Acquire Marketable Securities
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goss Proceeds From Maturity Of Marketable Securities
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0 USD
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1463000 USD
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0 USD
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1643000 USD
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285000 USD
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Interest Paid Net
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7055000 USD
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1911000 USD
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0 USD
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3106000 USD
goss Derecognition Of Operating Lease Obligation And Right Of Use Asset
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1650000 USD
goss Derecognition Of Operating Lease Obligation And Right Of Use Asset
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goss Noncash Investing And Financing Activities Change In Unrealized Gain On Marketable Securities Net Of Tax
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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goss Funds Raised Through Preferred Equity Financing Convertible Note Financings And Completed Initial Public Offering
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942000000 USD
us-gaap Use Of Estimates
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<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting period. The most significant estimates in the Company’s condensed consolidated financial statements relate to the allocation of the 2027 Notes into liability and equity components and accrued research and development expenses. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results could differ from those estimates.</span></div>
CY2021Q3 us-gaap Property Plant And Equipment Gross
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9517000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
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8157000 USD
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3896000 USD
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2623000 USD
CY2021Q3 us-gaap Property Plant And Equipment Net
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5621000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
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5534000 USD
CY2021Q3 us-gaap Employee Related Liabilities Current
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9591000 USD
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12194000 USD
CY2021Q3 us-gaap Operating Lease Liability Current
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3030000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
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3633000 USD
CY2021Q3 us-gaap Accrued Professional Fees Current
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1475000 USD
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2823000 USD
CY2021Q3 us-gaap Interest Payable Current
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3558000 USD
CY2020Q4 us-gaap Interest Payable Current
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1094000 USD
CY2021Q3 us-gaap Other Accrued Liabilities Current
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806000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
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742000 USD
CY2021Q3 us-gaap Litigation Reserve Current
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2400000 USD
CY2020Q4 us-gaap Litigation Reserve Current
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0 USD
CY2021Q3 goss Accrued In Process Research And Development
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45000 USD
CY2020Q4 goss Accrued In Process Research And Development
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225000 USD
CY2021Q3 us-gaap Accrued Liabilities Current
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20905000 USD
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20711000 USD
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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5.85
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
2503356 shares
CY2021Q3 us-gaap Fair Value Equity Level2 To Level1 Transfers Amount
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0 USD
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0 USD
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0 USD
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0 USD
CY2021Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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152557000 USD
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16000 USD
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27000 USD
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152546000 USD
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144888000 USD
CY2021Q3 goss Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
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7658000 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Securities
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152546000 USD
CY2018Q2 us-gaap Research And Development In Process
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20000000 USD
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15000 USD
CY2020Q3 us-gaap Research And Development In Process
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275000 USD
us-gaap Research And Development In Process
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60000 USD
us-gaap Research And Development In Process
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18080000 USD
goss Common Stock Voting Rights Number Of Votes Per Share
CommonStockVotingRightsNumberOfVotesPerShare
1 vote
CY2020Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
9433963 shares
CY2020Q2 us-gaap Sale Of Stock Price Per Share
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13.25
CY2020Q2 us-gaap Proceeds From Issuance Of Common Stock
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117100000 USD
CY2021Q3 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Number Of Shares
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925208 shares
CY2020Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Number Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares
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CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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13.42
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P8Y1M6D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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10182000 USD
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2923501 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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9.67
us-gaap Stock Issued During Period Shares Stock Options Exercised
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280895 shares
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
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7587000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
14.01
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.33
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y6M
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
22958000 USD
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
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4521056 shares
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
12.74
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P6Y7M6D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
12414000 USD
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
8.41
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8923000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
24349000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
26067000 USD
CY2019Q4 goss Option To Extend Contract Exercise Period
OptionToExtendContractExercisePeriod
P9M
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M18D
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1008000 USD
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1007000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
3084000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
2577000 USD
CY2021Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
13000 USD
CY2020Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
16000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
34000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
54000 USD
CY2021Q3 us-gaap Lease Cost
LeaseCost
1021000 USD
CY2020Q3 us-gaap Lease Cost
LeaseCost
1023000 USD
us-gaap Lease Cost
LeaseCost
3118000 USD
us-gaap Lease Cost
LeaseCost
2631000 USD
CY2021Q3 us-gaap Operating Lease Payments
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1000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
3200000 USD
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
1000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
2600000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
985000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3220000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1694000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1746000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
0 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7645000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
651000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
6994000 USD
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3030000 USD
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3964000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
6994000 USD
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
1100000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
3300000 USD
CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
1000000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
1900000 USD

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