2023 Q3 Form 10-Q Financial Statement

#000162828023027013 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $126.2M $110.8M
YoY Change 75.56% 99.34%
Cost Of Revenue $9.100M $7.163M
YoY Change 55.56% 54.04%
Gross Profit $117.0M $103.6M
YoY Change 77.22% 103.48%
Gross Profit Margin 92.73% 93.53%
Selling, General & Admin $105.2M $101.0M
YoY Change 19.04% 0.7%
% of Gross Profit 89.91% 97.48%
Research & Development $41.55M $49.79M
YoY Change 24.87% 29.21%
% of Gross Profit 35.51% 48.05%
Depreciation & Amortization $130.0K $123.0K
YoY Change -23.53% -28.49%
% of Gross Profit 0.11% 0.12%
Operating Expenses $155.9M $150.8M
YoY Change 22.26% 5.09%
Operating Profit -$29.71M -$47.18M
YoY Change -46.59% -46.34%
Interest Expense $5.500M $4.530M
YoY Change 159.19% 243.18%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$24.22M -$42.65M
YoY Change -54.74% -50.75%
Income Tax $43.00K $135.0K
% Of Pretax Income
Net Earnings -$24.26M -$42.78M
YoY Change -54.66% -50.6%
Net Earnings / Revenue -19.23% -38.62%
Basic Earnings Per Share -$0.25 -$0.45
Diluted Earnings Per Share -$0.25 -$0.45
COMMON SHARES
Basic Shares Outstanding 96.09M shares 95.93M shares
Diluted Shares Outstanding 96.14M shares 95.95M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $493.0M $512.9M
YoY Change -25.83% -24.45%
Cash & Equivalents $99.40M $142.3M
Short-Term Investments $393.6M $370.6M
Other Short-Term Assets $63.80M $47.36M
YoY Change 39.06% 20.27%
Inventory $42.99M $41.90M
Prepaid Expenses
Receivables $102.7M $95.96M
Other Receivables $0.00 $0.00
Total Short-Term Assets $702.4M $698.1M
YoY Change -7.55% -11.55%
LONG-TERM ASSETS
Property, Plant & Equipment $1.789M $15.44M
YoY Change -14.16% 622.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $86.00K $86.00K
YoY Change 0.0% 0.0%
Total Long-Term Assets $15.24M $15.53M
YoY Change -31.49% -31.59%
TOTAL ASSETS
Total Short-Term Assets $702.4M $698.1M
Total Long-Term Assets $15.24M $15.53M
Total Assets $717.7M $713.6M
YoY Change -8.23% -12.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.61M $7.733M
YoY Change -25.36% -28.06%
Accrued Expenses $92.50M $84.35M
YoY Change 46.38% 40.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $103.1M $92.08M
YoY Change 33.18% 30.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.90M $14.43M
YoY Change -27.48% -24.34%
Total Long-Term Liabilities $13.90M $14.43M
YoY Change -27.48% -24.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $103.1M $92.08M
Total Long-Term Liabilities $13.90M $14.43M
Total Liabilities $117.0M $106.5M
YoY Change 21.13% 18.73%
SHAREHOLDERS EQUITY
Retained Earnings -$1.589B -$1.564B
YoY Change 10.82% 13.36%
Common Stock $2.191B $2.174B
YoY Change 3.12% 3.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $600.7M $607.1M
YoY Change
Total Liabilities & Shareholders Equity $717.7M $713.6M
YoY Change -8.23% -12.11%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$24.26M -$42.78M
YoY Change -54.66% -50.6%
Depreciation, Depletion And Amortization $130.0K $123.0K
YoY Change -23.53% -28.49%
Cash From Operating Activities -$25.27M -$36.80M
YoY Change -52.63% -61.18%
INVESTING ACTIVITIES
Capital Expenditures $270.0K $0.00
YoY Change -330.77% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$19.90M $94.75M
YoY Change -118.72% 153.66%
Cash From Investing Activities -$20.17M $94.75M
YoY Change -119.0% 154.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.580M 8.585M
YoY Change -54.37% 55.98%
NET CHANGE
Cash From Operating Activities -25.27M -36.80M
Cash From Investing Activities -20.17M 94.75M
Cash From Financing Activities 2.580M 8.585M
Net Change In Cash -42.86M 66.53M
YoY Change -173.3% -227.8%
FREE CASH FLOW
Cash From Operating Activities -$25.27M -$36.80M
Capital Expenditures $270.0K $0.00
Free Cash Flow -$25.54M -$36.80M
YoY Change -52.02% -61.13%

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