2023 Q1 Form 10-K Financial Statement

#000181838223000016 Filed on March 24, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $0.00 $1.565M
YoY Change -100.0% -100.0% 23.91%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.234M $5.833M $22.88M
YoY Change -7.88% 5.02% 8.3%
% of Gross Profit
Research & Development $17.28M $14.96M $63.26M
YoY Change 5.91% -7.96% 3.13%
% of Gross Profit
Depreciation & Amortization $1.600M $2.114M $6.200M
YoY Change 6.67% 3.32% 0.0%
% of Gross Profit
Operating Expenses $22.51M $20.79M $86.14M
YoY Change 2.35% -4.65% 4.45%
Operating Profit -$22.50M -$84.60M
YoY Change 3.39% 4.18%
Interest Expense $1.699M -$225.0K $6.200M
YoY Change 18.65% -83.77% 42.59%
% of Operating Profit
Other Income/Expense, Net -$14.46M $17.30M $72.61M
YoY Change -848.68% -73.63% 32.67%
Pretax Income -$36.97M -$3.720M -$11.97M
YoY Change 86.41% -108.74% -54.81%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$36.97M -$3.720M -$11.97M
YoY Change 86.41% -108.74% -54.85%
Net Earnings / Revenue -764.54%
Basic Earnings Per Share -$0.36 -$0.12
Diluted Earnings Per Share -$0.36 -$0.04 -$0.12
COMMON SHARES
Basic Shares Outstanding 103.3M shares 103.1M shares 103.1M shares
Diluted Shares Outstanding 103.3M shares 103.1M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $131.7M $151.9M $151.9M
YoY Change -36.15% -32.65% -32.65%
Cash & Equivalents $129.6M $149.8M $149.8M
Short-Term Investments $2.107M $2.107M $2.107M
Other Short-Term Assets $2.178M $2.298M $2.298M
YoY Change -23.31% -37.25% -37.25%
Inventory
Prepaid Expenses
Receivables $0.00 $31.00K $31.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $133.9M $154.2M $154.2M
YoY Change -36.04% -32.76% -32.76%
LONG-TERM ASSETS
Property, Plant & Equipment $29.59M $30.04M $50.09M
YoY Change -11.77% -14.26% -12.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $682.0K
YoY Change
Total Long-Term Assets $49.12M $50.09M $50.09M
YoY Change -10.97% -12.41% -12.41%
TOTAL ASSETS
Total Short-Term Assets $133.9M $154.2M $154.2M
Total Long-Term Assets $49.12M $50.09M $50.09M
Total Assets $183.0M $204.3M $204.3M
YoY Change -30.81% -28.7% -28.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.954M $1.595M $1.595M
YoY Change -35.66% -23.83% -23.83%
Accrued Expenses $6.411M $7.108M $7.158M
YoY Change 17.42% 5.19% 5.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $15.19M $10.83M $10.83M
YoY Change 641.87% 446.54% 446.54%
Total Short-Term Liabilities $23.60M $19.58M $19.58M
YoY Change 119.28% 77.19% 77.19%
LONG-TERM LIABILITIES
Long-Term Debt $34.66M $39.19M $39.19M
YoY Change -28.27% -19.15% -19.15%
Other Long-Term Liabilities $42.83M $28.61M $28.61M
YoY Change -57.8% -72.72% -72.72%
Total Long-Term Liabilities $77.49M $67.79M $67.79M
YoY Change -48.28% -55.78% -55.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.60M $19.58M $19.58M
Total Long-Term Liabilities $77.49M $67.79M $67.79M
Total Liabilities $101.1M $87.37M $87.37M
YoY Change -37.05% -46.84% -46.84%
SHAREHOLDERS EQUITY
Retained Earnings -$463.5M -$426.5M
YoY Change 6.7% 2.87%
Common Stock $10.00K $10.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $81.89M $116.9M $116.9M
YoY Change
Total Liabilities & Shareholders Equity $183.0M $204.3M $204.3M
YoY Change -30.81% -28.7% -28.7%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$36.97M -$3.720M -$11.97M
YoY Change 86.41% -108.74% -54.85%
Depreciation, Depletion And Amortization $1.600M $2.114M $6.200M
YoY Change 6.67% 3.32% 0.0%
Cash From Operating Activities -$18.60M -$18.96M -$71.10M
YoY Change -1.06% -11.6% -12.44%
INVESTING ACTIVITIES
Capital Expenditures $1.152M $681.0K $1.048M
YoY Change 5136.36% -1613.33% 376.36%
Acquisitions
YoY Change
Other Investing Activities $5.893M $5.893M
YoY Change -173.66% -173.66%
Cash From Investing Activities -$1.152M $5.212M $4.845M
YoY Change 5136.36% -164.79% -158.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$409.0K -212.0K -$1.446M
YoY Change -11.28% -103.24% -100.54%
NET CHANGE
Cash From Operating Activities -$18.60M -18.96M -$71.10M
Cash From Investing Activities -$1.152M 5.212M $4.845M
Cash From Financing Activities -$409.0K -212.0K -$1.446M
Net Change In Cash -$20.20M -13.96M -$67.73M
YoY Change 4.78% -39.17% -138.14%
FREE CASH FLOW
Cash From Operating Activities -$18.60M -$18.96M -$71.10M
Capital Expenditures $1.152M $681.0K $1.048M
Free Cash Flow -$19.75M -$19.64M -$72.15M
YoY Change 4.94% -8.24% -11.39%

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CY2021 huma Reverse Recapitalization Contingent Consideration Liability Recognized
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<div style="margin-top:10pt"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates in the financial statements include stock-based compensation costs, right-of-use assets, accruals for research and development activities, contingent earnout liability, fair value of common stock warrants, redeemable convertible preferred stock and income taxes. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could differ from those estimates.</span></div>
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20440000 usd
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CY2022Q4 huma Reverse Recapitalization Contingent Consideration Liability Shares
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1
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1
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27346449 shares
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242400000 usd
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3900000 usd
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2437000 usd
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2520000 usd
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3943000 usd
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294000 usd
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7108000 usd
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6757000 usd
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30000000 usd
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8571000 usd
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17143000 usd
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4286000 usd
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21100000 usd
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23100000 usd
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19400000 usd
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21400000 usd
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700000 usd
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700000 usd
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700000 usd
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700000 usd
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2059000 usd
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2060000 usd
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1887000 usd
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FinanceLeaseInterestExpense
2044000 usd
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FinanceLeaseCost
3946000 usd
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FinanceLeaseCost
4104000 usd
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OperatingLeaseCost
105000 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
105000 usd
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4051000 usd
CY2021 us-gaap Lease Cost
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4209000 usd
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1887000 usd
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105000 usd
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2044000 usd
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105000 usd
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1981000 usd
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1729000 usd
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P4Y6M25D
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P5Y2M26D
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P5Y8M26D
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FinanceLeaseWeightedAverageDiscountRatePercent
0.0850
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0.0850
CY2022Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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3965000 usd
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105000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Two
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4065000 usd
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105000 usd
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2673000 usd
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105000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
10026000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
469000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
29133000 usd
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LesseeOperatingLeaseLiabilityPaymentsDue
994000 usd
CY2022Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
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8024000 usd
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312000 usd
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21109000 usd
CY2022Q4 us-gaap Operating Lease Liability
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682000 usd
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242400000 usd
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3900000 usd
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103003384 shares
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0.0001
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250000000 shares
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0 usd
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1 vote
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
35523301 shares
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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35748668 shares
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20000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
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20000000 shares
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0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
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CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
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CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
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5588506 shares
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0 shares
CY2021 huma Number Of Warrants Exercised
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32961 shares
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8.21
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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5.90
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
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27900000 usd
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2 plan
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6184000 usd
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10146000 usd
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6711192 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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7.48
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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8276000 usd
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2791029 shares
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3.54
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2.37
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2072980 shares
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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429000 usd
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3375289 shares
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6.46
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CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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429000 usd
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
429000 usd
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2.70
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7.63
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
300000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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1400000 usd
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13300000 usd
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CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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67879000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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58646000 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
43818000 usd
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
36830000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
18054000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
16765000 usd
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3047000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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1323000 usd
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144000 usd
CY2021Q4 huma Deferred Tax Assets Right Of Use Liabilities
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153000 usd
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65000 usd
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92000 usd
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1000 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
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CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
113810000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
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CY2022Q4 us-gaap Deferred Tax Assets Net
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1857000 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
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2235000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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1713000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
2082000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
144000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
153000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
1857000 usd
CY2021Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
2235000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
0 usd
CY2021Q4 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
6900000 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-2512000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-5560000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1767000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.148
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1706000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.064
CY2022 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
2325000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
-0.194
CY2021 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
2662000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
-0.101
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
-15735000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
1.315
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
-11991000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.453
CY2022 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
1698000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.142
CY2021 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
8981000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.339
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
1065000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.089
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
3120000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.118
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
19576000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-1.636
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
9818000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.371
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.000
CY2022 huma Operating Loss Carryforwards Percent Of Limitation On Taxable Income
OperatingLossCarryforwardsPercentOfLimitationOnTaxableIncome
0.80
CY2022Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
18100000 usd
CY2021Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
15700000 usd
CY2022 huma Number Of Defined Contribution Employee Retirement Plans
NumberOfDefinedContributionEmployeeRetirementPlans
2 retirement_plan
CY2022 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.04
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
700000 usd
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
600000 usd
CY2022 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
119000 usd
CY2021 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
176000 usd

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