2022 Q1 Form 10-Q Financial Statement

#000117184322003220 Filed on May 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $28.78M $26.99M
YoY Change 6.63% 13.54%
Cost Of Revenue $12.60M $11.56M
YoY Change 9.02% 7.13%
Gross Profit $16.18M $15.43M
YoY Change 4.83% 18.86%
Gross Profit Margin 56.21% 57.18%
Selling, General & Admin $13.01M $11.72M
YoY Change 11.03% -5.02%
% of Gross Profit 80.44% 75.94%
Research & Development $3.220M $2.487M
YoY Change 29.47% -0.12%
% of Gross Profit 19.9% 16.12%
Depreciation & Amortization $382.0K $445.0K
YoY Change -14.16% -8.06%
% of Gross Profit 2.36% 2.88%
Operating Expenses $22.89M $15.67M
YoY Change 46.07% -3.6%
Operating Profit -$6.712M -$239.0K
YoY Change 2708.37% -92.7%
Interest Expense -$384.0K -$411.0K
YoY Change -6.57% -68.36%
% of Operating Profit
Other Income/Expense, Net -$306.0K -$445.0K
YoY Change -31.24% -62.54%
Pretax Income -$7.018M -$684.0K
YoY Change 926.02% -84.67%
Income Tax -$100.0K -$15.00K
% Of Pretax Income
Net Earnings -$6.880M -$669.0K
YoY Change 928.4% -85.19%
Net Earnings / Revenue -23.91% -2.48%
Basic Earnings Per Share -$0.17 -$0.02
Diluted Earnings Per Share -$166.9K -$16.84K
COMMON SHARES
Basic Shares Outstanding 41.22M 39.79M
Diluted Shares Outstanding 41.22M 39.79M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.433M $5.800M
YoY Change -6.33% -1.69%
Cash & Equivalents $5.433M $5.815M
Short-Term Investments
Other Short-Term Assets $5.030M $3.658M
YoY Change 37.51% -1.53%
Inventory $28.71M $22.68M
Prepaid Expenses
Receivables $20.27M $17.07M
Other Receivables $5.030M $3.600M
Total Short-Term Assets $59.45M $49.22M
YoY Change 20.77% 2.2%
LONG-TERM ASSETS
Property, Plant & Equipment $3.499M $3.699M
YoY Change -5.41% -17.58%
Goodwill $57.36M $58.22M
YoY Change -1.48% 2.51%
Intangibles $25.88M $31.89M
YoY Change -18.85% -13.36%
Long-Term Investments
YoY Change
Other Assets $5.258M $812.0K
YoY Change 547.54% -56.83%
Total Long-Term Assets $98.60M $102.0M
YoY Change -3.36% -5.61%
TOTAL ASSETS
Total Short-Term Assets $59.45M $49.22M
Total Long-Term Assets $98.60M $102.0M
Total Assets $158.0M $151.2M
YoY Change 4.49% -3.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.218M $6.416M
YoY Change -3.09% -3.15%
Accrued Expenses $7.725M $5.400M
YoY Change 43.06% -27.51%
Deferred Revenue $3.956M $3.637M
YoY Change 8.77% -0.98%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.000M $2.250M
YoY Change 33.33% -29.69%
Total Short-Term Liabilities $27.23M $20.72M
YoY Change 31.41% -11.74%
LONG-TERM LIABILITIES
Long-Term Debt $46.24M $41.60M
YoY Change 11.16% -10.11%
Other Long-Term Liabilities $598.0K $2.848M
YoY Change -79.0% 230.39%
Total Long-Term Liabilities $46.84M $44.45M
YoY Change 5.39% -5.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.23M $20.72M
Total Long-Term Liabilities $46.84M $44.45M
Total Liabilities $81.67M $74.13M
YoY Change 10.16% -7.62%
SHAREHOLDERS EQUITY
Retained Earnings -$139.6M -$133.1M
YoY Change 4.88% 3.07%
Common Stock $226.7M $235.2M
YoY Change -3.64% 2.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $7.746M
Shareholders Equity $76.38M $77.12M
YoY Change
Total Liabilities & Shareholders Equity $158.0M $151.2M
YoY Change 4.49% -3.21%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$6.880M -$669.0K
YoY Change 928.4% -85.19%
Depreciation, Depletion And Amortization $382.0K $445.0K
YoY Change -14.16% -8.06%
Cash From Operating Activities -$1.986M $1.037M
YoY Change -291.51% -63.88%
INVESTING ACTIVITIES
Capital Expenditures $471.0K $151.0K
YoY Change 211.92% -37.34%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$471.0K -$301.0K
YoY Change 56.48% 24.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $936.0K $500.0K
YoY Change 87.2% -89.65%
Cash From Financing Activities $94.00K -$3.141M
YoY Change -102.99% -38.06%
NET CHANGE
Cash From Operating Activities -$1.986M $1.037M
Cash From Investing Activities -$471.0K -$301.0K
Cash From Financing Activities $94.00K -$3.141M
Net Change In Cash -$2.388M -$2.502M
YoY Change -4.56% 2.0%
FREE CASH FLOW
Cash From Operating Activities -$1.986M $1.037M
Capital Expenditures $471.0K $151.0K
Free Cash Flow -$2.457M $886.0K
YoY Change -377.31% -66.31%

Facts In Submission

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P6Y6M
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.10
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.78
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
3126
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
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CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.10
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1023000 USD
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CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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8200000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.92
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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41219000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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39787000
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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0
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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41219000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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39787000
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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3500000
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4500000
CY2022Q1 us-gaap Deferred Finance Costs Net
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1050000 USD
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1120000 USD
CY2022Q1 us-gaap Long Term Debt
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CY2021Q4 us-gaap Long Term Debt
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280000 USD
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280000 USD
CY2022Q1 us-gaap Long Term Debt Noncurrent
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45095000 USD
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CY2022Q1 us-gaap Contract With Customer Liability
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CY2021Q4 us-gaap Contract With Customer Liability
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700000 USD
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
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1200000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
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136000 USD
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227000 USD
CY2022Q1 us-gaap Provision For Doubtful Accounts
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CY2021Q1 us-gaap Provision For Doubtful Accounts
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5000 USD
CY2022Q1 hbio Accounts Receivable Allowance For Credit Loss Chargeoffs And Other Reoveries
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-6000 USD
CY2021Q1 hbio Accounts Receivable Allowance For Credit Loss Chargeoffs And Other Reoveries
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-22000 USD
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
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136000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable
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254000 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
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-100000 USD
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.020 pure
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.022 pure

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