$IRD
Opus Genetics, Inc.

2023 Q1 Form 10-K Financial Statement

#000114036123014868 Filed on March 30, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $1.749M $39.85M $39.85M
YoY Change 6665.7%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.285M $2.054M $7.269M
YoY Change 31.62% 45.26% -10.49%
% of Gross Profit
Research & Development $5.595M $3.586M $14.36M
YoY Change 17.25% -24.28% -5.39%
% of Gross Profit
Depreciation & Amortization $1.000K $1.000K $4.000K
YoY Change 0.0% 0.0% 0.0%
% of Gross Profit
Operating Expenses $7.880M $5.640M $21.62M
YoY Change 21.08% -8.29% -7.17%
Operating Profit -$6.131M $18.23M
YoY Change -5.79% -180.27%
Interest Expense $0.00 $46.00K $9.000K
YoY Change -100.0% -2400.0% 350.0%
% of Operating Profit 0.05%
Other Income/Expense, Net $340.0K $0.00 -$14.00K
YoY Change -514.63% -100.0% -91.08%
Pretax Income -$5.791M $34.26M $18.20M
YoY Change -12.19% -642.63% -132.11%
Income Tax $0.00 $315.0K $315.0K
% Of Pretax Income 0.92% 1.73%
Net Earnings -$5.791M $33.94M $17.89M
YoY Change -12.19% -637.64% -131.55%
Net Earnings / Revenue -331.1% 85.17% 44.89%
Basic Earnings Per Share -$0.28 $0.90
Diluted Earnings Per Share -$0.28 $1.58 $0.87
COMMON SHARES
Basic Shares Outstanding 20.95M 20.81M 19.93M
Diluted Shares Outstanding 20.94M 20.60M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $39.01M $42.68M $42.68M
YoY Change 101.28% 72.44% 72.44%
Cash & Equivalents $39.00M $42.60M $42.63M
Short-Term Investments $22.00K $49.00K $49.00K
Other Short-Term Assets $78.00K $80.00K $1.453M
YoY Change -92.88% 12.68% 10.58%
Inventory
Prepaid Expenses $1.010M $1.373M
Receivables $2.834M $1.298M $4.850M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $45.40M $48.99M $48.99M
YoY Change 121.72% 87.92% 87.92%
LONG-TERM ASSETS
Property, Plant & Equipment $5.000K $6.000K $6.000K
YoY Change -44.44% -40.0% -40.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $5.000K $6.000K $6.000K
YoY Change -44.44% -40.0% -40.0%
TOTAL ASSETS
Total Short-Term Assets $45.40M $48.99M $48.99M
Total Long-Term Assets $5.000K $6.000K $6.000K
Total Assets $45.40M $48.99M $48.99M
YoY Change 121.65% 87.87% 87.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.221M $1.069M $1.069M
YoY Change 40.66% -32.51% -32.51%
Accrued Expenses $1.933M $1.684M $1.684M
YoY Change 36.22% -2.83% -2.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.154M $2.753M $2.753M
YoY Change 29.29% -28.59% -28.59%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.154M $2.753M $2.753M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $4.154M $2.753M $2.753M
YoY Change 29.29% -28.59% -28.59%
SHAREHOLDERS EQUITY
Retained Earnings -$77.27M -$71.48M
YoY Change -20.02%
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 $41.25M $46.24M $46.24M
YoY Change
Total Liabilities & Shareholders Equity $45.40M $48.99M $48.99M
YoY Change 121.65% 87.87% 87.87%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$5.791M $33.94M $17.89M
YoY Change -12.19% -637.64% -131.55%
Depreciation, Depletion And Amortization $1.000K $1.000K $4.000K
YoY Change 0.0% 0.0% 0.0%
Cash From Operating Activities -$3.646M $28.79M $14.31M
YoY Change -40.91% -609.94% -173.9%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.428M
YoY Change -84.46%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -12.00K 3.786M
YoY Change -100.0% -100.15% -86.29%
NET CHANGE
Cash From Operating Activities -3.646M 28.79M 14.31M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 0.000 -12.00K 3.786M
Net Change In Cash -3.646M 28.78M 18.10M
YoY Change -31.05% 1160.03% 122.5%
FREE CASH FLOW
Cash From Operating Activities -$3.646M $28.79M $14.31M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
636000
CY2021Q4 us-gaap Deferred Revenue
DeferredRevenue
0
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
636000
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
0
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
18400000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
21700000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
17800000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
21700000
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
10900000
CY2021Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
15700000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
700000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
1000000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
2200000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
3600000
CY2021Q4 ocup Deferred Tax Assets Tax Credit Carryforwards Research State And Local
DeferredTaxAssetsTaxCreditCarryforwardsResearchStateAndLocal
0
CY2022Q4 ocup Deferred Tax Assets Tax Credit Carryforwards Research State And Local
DeferredTaxAssetsTaxCreditCarryforwardsResearchStateAndLocal
0
CY2022 ocup Federal Operating Loss Carryforwards Tax Effect
FederalOperatingLossCarryforwardsTaxEffect
4800000
CY2022 ocup State And Local Operating Loss Carryforwards Tax Effect
StateAndLocalOperatingLossCarryforwardsTaxEffect
1400000
CY2022 ocup Utilized Federal Research Credit Carryforwards
UtilizedFederalResearchCreditCarryforwards
900000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0

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