$ISCO
International Stem Cell CORP

2021 Q2 Form 10-Q Financial Statement

#000156459021044294 Filed on August 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $1.833M $1.812M $2.360M
YoY Change 1.16% -21.93% 6.4%
Cost Of Revenue $770.0K $719.0K $857.0K
YoY Change 7.09% -16.1% 1.9%
Gross Profit $1.063M $1.093M $1.503M
YoY Change -2.74% -25.34% 9.15%
Gross Profit Margin 57.99% 60.32% 63.69%
Selling, General & Admin $1.356M $1.725M $1.655M
YoY Change -21.39% -19.28% -24.01%
% of Gross Profit 127.56% 157.82% 110.11%
Research & Development $113.0K $200.0K $303.0K
YoY Change -43.5% -25.37% -53.6%
% of Gross Profit 10.63% 18.3% 20.16%
Depreciation & Amortization $64.00K $65.00K $63.00K
YoY Change -1.54% -1.52% -12.5%
% of Gross Profit 6.02% 5.95% 4.19%
Operating Expenses $1.469M $1.925M $303.0K
YoY Change -23.69% -19.96% -53.6%
Operating Profit -$406.0K -$832.0K -$455.0K
YoY Change -51.2% -11.58% -69.44%
Interest Expense -$39.00K -$254.0K $28.00K
YoY Change -84.65% -1370.0% 100.0%
% of Operating Profit
Other Income/Expense, Net $622.0K $82.00K
YoY Change -85.93%
Pretax Income $216.0K -$1.086M -$373.0K
YoY Change -119.89% 67.59% -58.83%
Income Tax
% Of Pretax Income
Net Earnings $216.0K -$1.086M -$373.0K
YoY Change -119.89% 67.59% -58.83%
Net Earnings / Revenue 11.78% -59.93% -15.81%
Basic Earnings Per Share $0.03
Diluted Earnings Per Share $0.03 -$144.1K -$49.48K
COMMON SHARES
Basic Shares Outstanding 7.767M 7.539M
Diluted Shares Outstanding 7.767M

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $750.0K $1.315M $708.0K
YoY Change -42.97% 119.17% 14.19%
Cash & Equivalents $750.0K $708.0K
Short-Term Investments
Other Short-Term Assets $416.0K $379.0K $434.0K
YoY Change 9.76% -13.86% -9.58%
Inventory $1.073M $1.010M $1.100M
Prepaid Expenses
Receivables $547.0K $694.0K $1.138M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.786M $3.398M $3.380M
YoY Change -18.01% 2.1% -3.7%
LONG-TERM ASSETS
Property, Plant & Equipment $451.0K $1.613M $630.0K
YoY Change -72.04% 131.42% -60.38%
Goodwill
YoY Change
Intangibles $1.351M
YoY Change
Long-Term Investments
YoY Change
Other Assets $413.0K $427.0K $448.0K
YoY Change -3.28% -51.48% -48.51%
Total Long-Term Assets $2.825M $3.385M $3.496M
YoY Change -16.54% -35.07% -32.12%
TOTAL ASSETS
Total Short-Term Assets $2.786M $3.398M $3.380M
Total Long-Term Assets $2.825M $3.385M $3.496M
Total Assets $5.611M $6.783M $6.876M
YoY Change -17.28% -20.58% -20.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $469.0K $579.0K $534.0K
YoY Change -19.0% -20.79% -34.07%
Accrued Expenses $830.0K $830.0K $718.0K
YoY Change 0.0% 51.46% -42.56%
Deferred Revenue
YoY Change
Short-Term Debt $2.882M $2.422M $2.395M
YoY Change 18.99%
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $4.431M $4.081M $4.205M
YoY Change 8.58% -8.46% -5.93%
LONG-TERM LIABILITIES
Long-Term Debt $476.0K $654.0K $0.00
YoY Change -27.22%
Other Long-Term Liabilities $714.0K $1.353M $1.214M
YoY Change -47.23% 39.48% 20.2%
Total Long-Term Liabilities $1.190M $2.007M $1.214M
YoY Change -40.71% 106.91% 20.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.431M $4.081M $4.205M
Total Long-Term Liabilities $1.190M $2.007M $1.214M
Total Liabilities $5.621M $6.088M $5.419M
YoY Change -7.67% 12.08% -1.06%
SHAREHOLDERS EQUITY
Retained Earnings -$109.5M
YoY Change
Common Stock $8.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.310M -$3.605M -$2.843M
YoY Change
Total Liabilities & Shareholders Equity $5.611M $6.783M $6.876M
YoY Change -17.28% -20.57% -20.63%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $216.0K -$1.086M -$373.0K
YoY Change -119.89% 67.59% -58.83%
Depreciation, Depletion And Amortization $64.00K $65.00K $63.00K
YoY Change -1.54% -1.52% -12.5%
Cash From Operating Activities -$363.0K -$18.00K $265.0K
YoY Change 1916.67% -97.22% -177.71%
INVESTING ACTIVITIES
Capital Expenditures -$4.000K -$29.00K $3.000K
YoY Change -86.21% -83.14% -94.83%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$4.000K -$29.00K -$41.00K
YoY Change -86.21% -83.14% -65.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 654.0K
YoY Change -100.0% -18.25%
NET CHANGE
Cash From Operating Activities -363.0K -18.00K 265.0K
Cash From Investing Activities -4.000K -29.00K -41.00K
Cash From Financing Activities 0.000 654.0K
Net Change In Cash -367.0K 607.0K 224.0K
YoY Change -160.46% -3135.0% -148.7%
FREE CASH FLOW
Cash From Operating Activities -$363.0K -$18.00K $265.0K
Capital Expenditures -$4.000K -$29.00K $3.000K
Free Cash Flow -$359.0K $11.00K $262.0K
YoY Change -3363.64% -102.31% -165.66%

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The Company's revenue consists primarily of sales of products from its two revenue-generating operating segments, the biomedical market and anti-aging market business segments. The biomedical market segment markets and sells primary human cell research products with two product categories, cells and media, which are sold both domestically within the United States and internationally. The anti-aging market segment markets and sells a line of skincare products sold through two sales channels: ecommerce and professional. The ecommerce channel sells direct to customers through online orders, while professional sales are primarily to spas, salons and other skincare providers.
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CY2014Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.75
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
47000
CY2020Q2 isco Cares Act Of2020 Aid Amount
CARESActOf2020AidAmount
654000
CY2020Q2 isco Paycheck Protection Program Loan Interest Rate
PaycheckProtectionProgramLoanInterestRate
0.01
CY2020Q2 isco Paycheck Protection Program Loan Deferred Payment Period
PaycheckProtectionProgramLoanDeferredPaymentPeriod
P10M
CY2021Q1 isco Cares Act Of2020 Aid Amount
CARESActOf2020AidAmount
474000
CY2021Q1 isco Paycheck Protection Program Loan Interest Rate
PaycheckProtectionProgramLoanInterestRate
0.01
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
120000000
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2014Q4 isco Class Of Warrant Or Right Issued Exercisable For Shares Of Common Stock
ClassOfWarrantOrRightIssuedExercisableForSharesOfCommonStock
62047
CY2016Q1 isco Class Of Warrant Or Right Issued Exercisable For Shares Of Common Stock
ClassOfWarrantOrRightIssuedExercisableForSharesOfCommonStock
11159995
CY2016Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.75
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0089
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0089
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0037
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0037
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8385
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8385
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8882
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8882
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
540000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y10M24D
CY2021Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
15202238
isco Related Party Rent Expense
RelatedPartyRentExpense
86000
isco Related Party Rent Expense
RelatedPartyRentExpense
84000
CY2021Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
350000
isco Number Of Operating Leases
NumberOfOperatingLeases
3
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
733000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1000000.0
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
118000
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
119000
us-gaap Operating Lease Cost
OperatingLeaseCost
236000
us-gaap Operating Lease Cost
OperatingLeaseCost
237000
CY2021Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
0
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
257000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
394000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
233000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1379000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
356000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1023000
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
309000
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
714000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
isco Number Of Business Units
NumberOfBusinessUnits
2
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1812000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3491000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4171000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1833000
CY2020Q2 us-gaap Costs And Expenses
CostsAndExpenses
2644000
us-gaap Costs And Expenses
CostsAndExpenses
4464000
us-gaap Costs And Expenses
CostsAndExpenses
5459000
CY2021Q2 us-gaap Costs And Expenses
CostsAndExpenses
2239000
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-406000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-832000
us-gaap Operating Income Loss
OperatingIncomeLoss
-973000
us-gaap Operating Income Loss
OperatingIncomeLoss
-1288000

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