2023 Q2 Form 10-Q Financial Statement

#000095017023017483 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $37.58M $38.70M $47.67M
YoY Change -5.29% -18.82% 104.94%
Cost Of Revenue $1.194M $1.351M $1.426M
YoY Change 27.16% -5.26% 53.33%
Gross Profit $36.39M $37.35M $46.24M
YoY Change -6.08% -19.24% 107.09%
Gross Profit Margin 96.82% 96.51% 97.01%
Selling, General & Admin $34.48M $35.91M $38.77M
YoY Change -7.65% -7.38% 2.97%
% of Gross Profit 94.77% 96.14% 83.83%
Research & Development $31.48M $32.34M $42.06M
YoY Change -28.96% -23.12% 13.53%
% of Gross Profit 86.51% 86.59% 90.96%
Depreciation & Amortization $83.00K $290.0K $177.0K
YoY Change -44.3% 63.84% -24.68%
% of Gross Profit 0.23% 0.78% 0.38%
Operating Expenses $65.96M $69.60M $82.26M
YoY Change -20.14% -15.39% 8.76%
Operating Profit -$29.57M -$30.90M -$34.59M
YoY Change -31.08% -10.66% -33.96%
Interest Expense -$2.960M $5.758M $6.684M
YoY Change -146.89% -13.85% 31.19%
% of Operating Profit
Other Income/Expense, Net $30.00K -$3.173M -$6.683M
YoY Change -100.5% -52.52% 36.61%
Pretax Income -$32.50M -$34.07M -$41.27M
YoY Change -33.59% -17.44% -27.93%
Income Tax $127.0K $54.00K $130.0K
% Of Pretax Income
Net Earnings -$32.63M -$34.13M -$41.40M
YoY Change -33.49% -17.57% -27.89%
Net Earnings / Revenue -86.83% -88.19% -86.84%
Basic Earnings Per Share -$0.29 -$0.30 -$0.53
Diluted Earnings Per Share -$0.29 -$0.30 -$533.7K
COMMON SHARES
Basic Shares Outstanding 114.0M 113.3M 79.16M
Diluted Shares Outstanding 114.2M 113.5M 77.57M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $236.8M $260.4M $205.3M
YoY Change 38.58% 26.82% -8.49%
Cash & Equivalents $80.89M $84.06M $153.3M
Short-Term Investments $155.9M $176.3M $52.06M
Other Short-Term Assets $18.66M $19.13M $29.14M
YoY Change -41.82% -34.34% 185.64%
Inventory $3.672M $3.827M $3.874M
Prepaid Expenses $12.21M
Receivables $32.28M $35.20M $24.99M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $291.4M $318.5M $276.5M
YoY Change 20.18% 15.19% 8.23%
LONG-TERM ASSETS
Property, Plant & Equipment $6.062M $849.0K $1.544M
YoY Change 334.55% -45.01% -22.18%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $387.0K $634.0K $8.438M
YoY Change -93.0% -92.49% 1105.43%
Total Long-Term Assets $6.449M $7.259M $17.50M
YoY Change -54.04% -58.52% -9.78%
TOTAL ASSETS
Total Short-Term Assets $291.4M $318.5M $276.5M
Total Long-Term Assets $6.449M $7.259M $17.50M
Total Assets $297.8M $325.8M $294.0M
YoY Change 16.12% 10.8% 6.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.287M $9.045M $3.440M
YoY Change 35.01% 162.94% 13.16%
Accrued Expenses $54.89M $47.03M $58.37M
YoY Change -2.62% -19.43% 4.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $58.93M $61.56M $66.34M
YoY Change -5.78% -7.21% 6.98%
LONG-TERM LIABILITIES
Long-Term Debt $303.2M $303.0M $302.5M
YoY Change 0.17% 0.18% 25.1%
Other Long-Term Liabilities $6.935M $1.085M $8.286M
YoY Change -8.56% -86.91% -22.56%
Total Long-Term Liabilities $310.2M $1.085M $310.8M
YoY Change -0.04% -99.65% 23.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $58.93M $61.56M $66.34M
Total Long-Term Liabilities $310.2M $1.085M $310.8M
Total Liabilities $369.1M $371.0M $377.1M
YoY Change -1.0% -1.63% 19.89%
SHAREHOLDERS EQUITY
Retained Earnings -$1.411B -$1.378B -$1.220B
YoY Change 11.16% 12.95% 9.72%
Common Stock $1.340B $1.333B $1.137B
YoY Change 16.21% 17.28% 6.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$71.25M -$45.17M -$83.08M
YoY Change
Total Liabilities & Shareholders Equity $297.8M $325.8M $294.0M
YoY Change 16.12% 10.8% 6.96%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$32.63M -$34.13M -$41.40M
YoY Change -33.49% -17.57% -27.89%
Depreciation, Depletion And Amortization $83.00K $290.0K $177.0K
YoY Change -44.3% 63.84% -24.68%
Cash From Operating Activities -$25.70M -$18.91M -$59.20M
YoY Change -26.88% -68.06% 11.93%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $79.00K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $21.17M -$32.39M -$13.96M
YoY Change -157.85% 132.07% -132.31%
Cash From Investing Activities $21.17M -$32.39M -$14.04M
YoY Change -157.85% 130.77% -132.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 860.0K 0.000 30.78M
YoY Change -34.5% -100.0% 188.34%
NET CHANGE
Cash From Operating Activities -25.70M -18.91M -59.20M
Cash From Investing Activities 21.17M -32.39M -14.04M
Cash From Financing Activities 860.0K 0.000 30.78M
Net Change In Cash -3.668M -51.34M -42.54M
YoY Change -94.79% 20.7% -4917.55%
FREE CASH FLOW
Cash From Operating Activities -$25.70M -$18.91M -$59.20M
Capital Expenditures $0.00 $0.00 $79.00K
Free Cash Flow -$25.70M -$18.91M -$59.28M
YoY Change -26.88% -68.1% 12.08%

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CY2023Q1 us-gaap Assets Fair Value Disclosure
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CY2022Q4 us-gaap Available For Sale Securities Debt Securities
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CY2023Q1 kpti Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax Other Than Temporary Impairments
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTaxOtherThanTemporaryImpairments
0
CY2023Q1 kpti Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than One Years
AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYears
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CY2022Q4 kpti Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than One Years
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CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
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CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
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CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
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CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
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CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
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CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
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CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2023Q1 kpti Debt Instrument Convertible Threshold Measurement Period Description
DebtInstrumentConvertibleThresholdMeasurementPeriodDescription
during the five-business day period immediately after any five consecutive trading day period
CY2023Q1 us-gaap Debt Instrument Convertible Threshold Consecutive Trading Days1
DebtInstrumentConvertibleThresholdConsecutiveTradingDays1
5
CY2023Q1 kpti Principal Amount Of Notes Used In Conversion Rate
PrincipalAmountOfNotesUsedInConversionRate
1000
CY2023Q1 kpti Debt Instrument Convertible Threshold Maximum Percentage Of Product Of Last Reported Sale Price Of Common Stock
DebtInstrumentConvertibleThresholdMaximumPercentageOfProductOfLastReportedSalePriceOfCommonStock
0.98

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