$HCWB
HCW Biologics Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024060599 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $618.9K $1.127M
YoY Change -0.63% 2590.14%
Cost Of Revenue $438.4K $512.0K
YoY Change -12.73% 1644.34%
Gross Profit $180.4K $614.7K
YoY Change 49.84% 4805.03%
Gross Profit Margin 29.15% 54.56%
Selling, General & Admin $11.94M $5.918M
YoY Change 304.92% 94.16%
% of Gross Profit 6619.79% 962.68%
Research & Development $2.029M $2.123M
YoY Change 25.52% -5.87%
% of Gross Profit 1124.76% 345.39%
Depreciation & Amortization $129.9K $243.5K
YoY Change -54.3% -18.52%
% of Gross Profit 72.02% 39.61%
Operating Expenses $15.32M $8.108M
YoY Change 230.74% 50.91%
Operating Profit -$15.14M -$7.494M
YoY Change 235.57% 39.79%
Interest Expense $159.7K $0.00
YoY Change 67.17% -100.0%
% of Operating Profit
Other Income/Expense, Net -$1.300M $25.60K
YoY Change -531.01% -93.32%
Pretax Income -$15.28M -$7.468M
YoY Change 254.99% 47.28%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$15.28M -$7.468M
YoY Change 254.99% 47.28%
Net Earnings / Revenue -2469.11% -662.82%
Basic Earnings Per Share -$0.40 -$0.20
Diluted Earnings Per Share -$0.40 -$0.20
COMMON SHARES
Basic Shares Outstanding 37.82M 37.82M
Diluted Shares Outstanding 37.82M 37.22M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.161M $4.084M
YoY Change -93.33% -85.54%
Cash & Equivalents $1.200M $4.100M
Short-Term Investments
Other Short-Term Assets $164.6K $187.3K
YoY Change -49.67% -40.92%
Inventory
Prepaid Expenses $404.9K $783.4K
Receivables $655.0K $903.9K
Other Receivables $0.00 $250.0K
Total Short-Term Assets $2.386M $6.209M
YoY Change -87.95% -79.26%
LONG-TERM ASSETS
Property, Plant & Equipment $22.81M $22.59M
YoY Change 80.67% 92.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.600M $1.600M
YoY Change 0.0% 0.0%
Other Assets $28.48K $28.48K
YoY Change -86.51% -88.75%
Total Long-Term Assets $24.43M $24.22M
YoY Change 24.13% 78.16%
TOTAL ASSETS
Total Short-Term Assets $2.386M $6.209M
Total Long-Term Assets $24.43M $24.22M
Total Assets $26.82M $30.43M
YoY Change -32.07% -30.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.88M $10.49M
YoY Change 697.53% 801.06%
Accrued Expenses $6.342M $2.919M
YoY Change 161.87% -13.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $23.22M $13.41M
YoY Change 411.67% 196.61%
LONG-TERM LIABILITIES
Long-Term Debt $9.901M $8.274M
YoY Change 55.68% 29.57%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $9.901M $8.274M
YoY Change 55.68% 29.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.22M $13.41M
Total Long-Term Liabilities $9.901M $8.274M
Total Liabilities $33.12M $21.69M
YoY Change 203.92% 98.68%
SHAREHOLDERS EQUITY
Retained Earnings -$93.28M -$78.00M
YoY Change 69.87% 54.12%
Common Stock $3.782K $3.782K
YoY Change 5.26% 5.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$6.300M $8.741M
YoY Change
Total Liabilities & Shareholders Equity $26.82M $30.43M
YoY Change -32.07% -30.11%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$15.28M -$7.468M
YoY Change 254.99% 47.28%
Depreciation, Depletion And Amortization $129.9K $243.5K
YoY Change -54.3% -18.52%
Cash From Operating Activities -$4.862M -$3.604M
YoY Change -48.23% -0.94%
INVESTING ACTIVITIES
Capital Expenditures -$18.57K $129.7K
YoY Change -101.19% -56.82%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $18.57K -$129.7K
YoY Change -101.19% -56.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.921M 4.223M
YoY Change 24814.14% 222022.78%
NET CHANGE
Cash From Operating Activities -4.862M -3.604M
Cash From Investing Activities 18.57K -129.7K
Cash From Financing Activities 1.921M 4.223M
Net Change In Cash -2.923M 489.0K
YoY Change -73.29% -112.42%
FREE CASH FLOW
Cash From Operating Activities -$4.862M -$3.604M
Capital Expenditures -$18.57K $129.7K
Free Cash Flow -$4.844M -$3.734M
YoY Change -55.76% -5.21%

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CY2024Q1 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2024-02-29
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.06
CY2024Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
251921
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
28275
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
28793
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
28061
CY2023Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
43950
CY2024Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
47838
CY2023 hcwb Commitment Fund
CommitmentFund
4400000
CY2024Q1 hcwb Commitment Fund
CommitmentFund
2800000
CY2024Q1 hcwb Deposit Account For Interest Reserve
DepositAccountForInterestReserve
5300000
CY2023Q4 hcwb Deposit Account For Credit Loss Reserve
DepositAccountForCreditLossReserve
5300000
CY2024Q1 hcwb Perecentage Of Legal Fees
PerecentageOfLegalFees
0.50
CY2024Q1 hcwb Percentage Of Advancement Of Expenses
PercentageOfAdvancementOfExpenses
0.50
CY2024Q1 hcwb Percentage Of Legal Fees Already Advanced
PercentageOfLegalFeesAlreadyAdvanced
0.50
CY2024Q1 hcwb Percentage Of Contribution Of Advancement Of Expenses
PercentageOfContributionOfAdvancementOfExpenses
0.50
CY2024Q1 hcwb Percentage Of Expenses Related To Arbitration
PercentageOfExpensesRelatedToArbitration
0.50
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 hcwb Rule10 B51 Arr Modified Flag
Rule10B51ArrModifiedFlag
false
CY2024Q1 hcwb Non Rule10 B51 Arr Modified Flag
NonRule10B51ArrModifiedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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