2022 Q1 Form 10-Q Financial Statement

#000178553022000021 Filed on May 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.421M $2.635M
YoY Change 67.78%
% of Gross Profit
Research & Development $10.95M $4.817M
YoY Change 127.22% 74.34%
% of Gross Profit
Depreciation & Amortization $98.00K $39.00K
YoY Change 151.28% 69.57%
% of Gross Profit
Operating Expenses $15.37M $7.452M
YoY Change 106.2% 91.37%
Operating Profit -$15.37M -$7.452M
YoY Change 106.2% 91.37%
Interest Expense $23.00K $33.00K
YoY Change -30.3%
% of Operating Profit
Other Income/Expense, Net $23.00K $17.00K
YoY Change 35.29% -74.63%
Pretax Income -$15.34M -$7.435M
YoY Change 106.36%
Income Tax
% Of Pretax Income
Net Earnings -$15.34M -$7.435M
YoY Change 106.36% 94.28%
Net Earnings / Revenue
Basic Earnings Per Share -$0.56 -$83.36
Diluted Earnings Per Share -$0.56 -$83.36
COMMON SHARES
Basic Shares Outstanding 27.39M shares 1.229M shares
Diluted Shares Outstanding 27.39M shares 1.229M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $143.7M $84.60M
YoY Change 69.87%
Cash & Equivalents $143.7M $84.60M
Short-Term Investments
Other Short-Term Assets $1.725M $263.0K
YoY Change 555.89%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $145.4M $84.87M
YoY Change 71.37%
LONG-TERM ASSETS
Property, Plant & Equipment $6.141M $694.0K
YoY Change 784.87%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $642.0K $1.572M
YoY Change -59.16%
Total Long-Term Assets $19.20M $4.571M
YoY Change 319.93%
TOTAL ASSETS
Total Short-Term Assets $145.4M $84.87M
Total Long-Term Assets $19.20M $4.571M
Total Assets $164.6M $89.44M
YoY Change 84.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.381M $1.800M
YoY Change -23.28%
Accrued Expenses $8.189M $2.890M
YoY Change 183.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $11.03M $5.409M
YoY Change 103.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $14.29M $0.00
YoY Change
Total Long-Term Liabilities $14.29M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $11.03M $5.409M
Total Long-Term Liabilities $14.29M $0.00
Total Liabilities $25.31M $7.092M
YoY Change 256.92%
SHAREHOLDERS EQUITY
Retained Earnings -$268.2M -$153.8M
YoY Change 74.46%
Common Stock $2.000K $2.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $139.3M -$153.8M
YoY Change
Total Liabilities & Shareholders Equity $164.6M $89.44M
YoY Change 84.08%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$15.34M -$7.435M
YoY Change 106.36% 94.28%
Depreciation, Depletion And Amortization $98.00K $39.00K
YoY Change 151.28% 69.57%
Cash From Operating Activities -$13.95M -$7.326M
YoY Change 90.43% 115.53%
INVESTING ACTIVITIES
Capital Expenditures $28.00K $13.00K
YoY Change 115.38% -97.1%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$28.00K -$13.00K
YoY Change 115.38% -97.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $159.0K -$538.0K
YoY Change -129.55%
NET CHANGE
Cash From Operating Activities -$13.95M -$7.326M
Cash From Investing Activities -$28.00K -$13.00K
Cash From Financing Activities $159.0K -$538.0K
Net Change In Cash -$13.82M -$7.877M
YoY Change 75.45% 104.7%
FREE CASH FLOW
Cash From Operating Activities -$13.95M -$7.326M
Capital Expenditures $28.00K $13.00K
Free Cash Flow -$13.98M -$7.339M
YoY Change 90.48% 90.72%

Facts In Submission

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5000000 shares
CY2022Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1745000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
539000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.54
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.23
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3266000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.24
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y7D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
928000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.34
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
46000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.83
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
15000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
7.69
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4133000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.00
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
818000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.73
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y7M24D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
300000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
20000000.0 USD
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4426000 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21238000 shares

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