$HCWB
HCW Biologics Inc.

2022 Q3 Form 10-Q Financial Statement

#000095017022017015 Filed on August 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $1.800M $454.0K $3.100M
YoY Change
Cost Of Revenue $1.447M $287.2K $1.328M
YoY Change
Gross Profit $361.8K $166.8K $1.789M
YoY Change
Gross Profit Margin 20.1% 36.74% 57.72%
Selling, General & Admin $1.701M $1.691M $1.845M
YoY Change 25.05% -16.8% 81.64%
% of Gross Profit 470.07% 1013.82% 103.1%
Research & Development $2.649M $1.970M $1.790M
YoY Change -1.43% 17.73% -23.18%
% of Gross Profit 732.11% 1180.98% 100.01%
Depreciation & Amortization $164.3K $149.6K $142.8K
YoY Change 32.41% -9.4% -10.09%
% of Gross Profit 45.42% 89.67% 7.98%
Operating Expenses $4.381M $3.678M $3.670M
YoY Change 7.07% 33.69% 7.56%
Operating Profit -$4.020M -$3.511M -$1.881M
YoY Change -1.77% 27.63% -44.88%
Interest Expense $105.5K $520.00 -$176.4K
YoY Change -4251.97% -65.33% -20375.86%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$3.914M -$3.511M -$2.057M
YoY Change -4.41% -37.25% -27.66%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$3.914M -$3.511M -$2.057M
YoY Change -4.41% 27.64% -27.66%
Net Earnings / Revenue -217.46% -773.25% -66.36%
Basic Earnings Per Share -$0.11 -$0.10 -$0.06
Diluted Earnings Per Share -$0.11 -$0.10 -$57.50K
COMMON SHARES
Basic Shares Outstanding 35.83M 35.81M 35.78M
Diluted Shares Outstanding 35.84M 35.81M 35.78M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.22M $32.41M $35.09M
YoY Change -34.63% 541.75% 411.75%
Cash & Equivalents $26.20M $15.40M $18.10M
Short-Term Investments $0.00 $16.99M $16.97M
Other Short-Term Assets $205.9K $470.0K $245.6K
YoY Change -85.12% -90.5% -85.05%
Inventory
Prepaid Expenses $1.922M $1.397M $2.021M
Receivables $355.6K $346.9K $553.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $28.71M $34.63M $37.91M
YoY Change -34.09% 244.69% 286.82%
LONG-TERM ASSETS
Property, Plant & Equipment $10.96M $913.7K $1.012M
YoY Change 763.51% -34.14% -33.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $11.27M $11.30M $11.35M
YoY Change -2.67% 606.54% 609.57%
Other Assets $419.0K $563.5K $686.4K
YoY Change
Total Long-Term Assets $22.65M $12.78M $13.05M
YoY Change 76.27% 327.85% 317.12%
TOTAL ASSETS
Total Short-Term Assets $28.71M $34.63M $37.91M
Total Long-Term Assets $22.65M $12.78M $13.05M
Total Assets $51.35M $47.41M $50.96M
YoY Change -8.96% 263.75% 294.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.410M $296.2K $743.1K
YoY Change 121.34% -70.29% 129.71%
Accrued Expenses $882.8K $848.3K $674.3K
YoY Change -49.77% -73.26% -34.11%
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 $2.293M $1.145M $1.417M
YoY Change -4.23% -72.55% 5.24%
LONG-TERM LIABILITIES
Long-Term Debt $6.448M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $56.68K $98.45K $139.6K
YoY Change
Total Long-Term Liabilities $6.505M $98.45K $139.6K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.293M $1.145M $1.417M
Total Long-Term Liabilities $6.505M $98.45K $139.6K
Total Liabilities $8.798M $1.243M $1.557M
YoY Change 267.42% -70.19% 15.61%
SHAREHOLDERS EQUITY
Retained Earnings -$40.12M -$36.21M -$32.69M
YoY Change 46.08%
Common Stock $3.584K $3.582K $3.578K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $42.56M $46.17M $49.40M
YoY Change
Total Liabilities & Shareholders Equity $51.35M $47.41M $50.96M
YoY Change -8.96% 263.75% 294.15%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$3.914M -$3.511M -$2.057M
YoY Change -4.41% 27.64% -27.66%
Depreciation, Depletion And Amortization $164.3K $149.6K $142.8K
YoY Change 32.41% -9.4% -10.09%
Cash From Operating Activities -$2.315M -$2.690M -$1.592M
YoY Change -54.78% 171.58% 6.87%
INVESTING ACTIVITIES
Capital Expenditures -$10.17M -$12.91K $23.55K
YoY Change 246146.49% 1.18%
Acquisitions
YoY Change
Other Investing Activities $16.98M $0.00 $8.000M
YoY Change -148.57%
Cash From Investing Activities $6.814M -$12.91K $7.976M
YoY Change -119.48% -34363.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.273K
YoY Change -83.02%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.305M 6.000K 2.273K
YoY Change -87.43% -100.74% -102.62%
NET CHANGE
Cash From Operating Activities -2.315M -2.690M -1.592M
Cash From Investing Activities 6.814M -12.91K 7.976M
Cash From Financing Activities 6.305M 6.000K 2.273K
Net Change In Cash 10.80M -2.697M 6.386M
YoY Change 7.24% 49.38% -499.23%
FREE CASH FLOW
Cash From Operating Activities -$2.315M -$2.690M -$1.592M
Capital Expenditures -$10.17M -$12.91K $23.55K
Free Cash Flow $7.855M -$2.677M -$1.616M
YoY Change -253.58% 170.28% 6.78%

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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15420331
hcwb Cumulative Dividends Earned And Accrued In The Reporting Period
CumulativeDividendsEarnedAndAccruedInTheReportingPeriod
960020
hcwb Cumulative Dividends Earned And Accrued In The Reporting Period
CumulativeDividendsEarnedAndAccruedInTheReportingPeriod
0
us-gaap Debt Instrument Decrease Forgiveness
DebtInstrumentDecreaseForgiveness
567311
us-gaap Debt Instrument Decrease Forgiveness
DebtInstrumentDecreaseForgiveness
0
hcwb Offering Costs
OfferingCosts
2264688
hcwb Offering Costs
OfferingCosts
0
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
0
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
269134
CY2021Q3 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
23768416
CY2021Q3 us-gaap Cumulative Dividends
CumulativeDividends
2800000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
15400000
hcwb Cumulative Losses To Conduct Product Research And Development In Future
CumulativeLossesToConductProductResearchAndDevelopmentInFuture
33500000
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
454000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3600000
us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:13.5pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Deferred Revenue</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:10.2%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Deferred revenue represents amounts billed, or in certain cases yet to be billed, to the Company’s customer for which the related revenues have not been recognized because one or more of the revenue recognition criteria has not been met. The Company had deferred revenue of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1.8</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> million and $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">314,625</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> as of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">December 31, 2021 and June 30, 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">, respectively. All deferred revenue balances are current liabilities and reported within Accrued liabilities and other current liabilities in the accompanying condensed balance sheets.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
us-gaap Net Income Loss
NetIncomeLoss
-5567768
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-2750362
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-3510561
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
2100000
CY2021 us-gaap Other General Expense
OtherGeneralExpense
50000
CY2022Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
848340
hcwb Redeemable Preferred Stock
RedeemablePreferredStock
<span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">3. Redeemable Preferred Stock </span><p style="text-indent:10.2%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">On July 22, 2021, the Company closed on its IPO, and the requirements for mandatory conversion were met. All outstanding shares of Series A, Series B, and Series C Preferred Stock converted into an equal number of shares of common stock. As a result, the rights, preferences, and terms ascribed to these shares are no longer applicable. Cumulative dividends of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2.8</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> million accrued as of the conversion date were forfeited and such forfeiture was recognized through Additional paid-in capital.</span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">At December 31, 2021</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> and June 30, 2022, the Company has </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">10,000,000</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> shares of preferred stock authorized and </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">no</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> shares issued.</span>
CY2021Q3 us-gaap Cumulative Dividends
CumulativeDividends
2800000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
us-gaap Net Income Loss
NetIncomeLoss
-5594358
CY2021Q2 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
482662
CY2022Q2 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
960020
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3233024
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3510561
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6554378
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5567768
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4921121
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4921121
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35814482
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35814482
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4880496
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4880496
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35796257
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35796257
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.66
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.66
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24348274
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1924317
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
44412319
CY2022Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
41099498
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
1
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000
CY2021Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
31552
CY2022Q2 us-gaap Area Of Land
AreaOfLand
12250
CY2022Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P2Y
us-gaap Lease Expiration Date1
LeaseExpirationDate1
2024-02-29
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.060
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
42413
us-gaap Operating Lease Cost
OperatingLeaseCost
56550
us-gaap Operating Lease Payments
OperatingLeasePayments
69643
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
50545
hcwb Supplemental Balance Sheet Operating Leases Disclosure Table Textblock
SupplementalBalanceSheetOperatingLeasesDisclosureTableTextblock
<p style="text-indent:10.2%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">As of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">June 30, 2022, the supplemental balance sheet information related to leases was as follows:</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:70.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:79.098%;"/> <td style="width:1.936%;"/> <td style="width:1.0%;"/> <td style="width:16.966%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="white-space:pre-wrap;font-size:8.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="white-space:pre-wrap;font-size:8.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p></td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:8.0pt;font-family:Times New Roman;min-width:fit-content;">As of June 30, 2022</span></p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);text-align:left;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="white-space:pre-wrap;font-size:8.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,238,255,1);text-indent:5.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:middle;"><p style="margin-left:5.0pt;text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Operating lease right-of-use assets</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">268,298</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:5.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:middle;"><p style="margin-left:5.0pt;text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Other current liabilities</span></p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Calibri;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">170,687</span></p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(204,238,255,1);text-indent:5.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:middle;"><p style="margin-left:5.0pt;text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Operating lease liabilities, net of current portion</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">98,447</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:15.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:middle;"><p style="margin-left:15.0pt;text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Total operating lease liabilities</span></p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Calibri;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">269,134</span></p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(255,255,255,0.01);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p></td> </tr> </table>
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
268298
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
170687
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
98447
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
269134
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
83572
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
171322
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
28693
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
283587
CY2022Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
49966
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
68466
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
77139
CY2021Q4 us-gaap Contractual Obligation
ContractualObligation
2.5
CY2022Q2 us-gaap Contractual Obligation
ContractualObligation
4.1
CY2022Q3 hcwb Term Of Finance Purchase
TermOfFinancePurchase
P5Y

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