2023 Q2 Form 10-Q Financial Statement

#000116169723000281 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $6.936M $7.393M $6.244M
YoY Change 5.95% 18.39% 15.0%
Cost Of Revenue $3.048M $3.246M $2.622M
YoY Change -4.77% 23.78% 19.18%
Gross Profit $3.888M $4.147M $3.622M
YoY Change 16.2% 14.49% 12.15%
Gross Profit Margin 56.06% 56.1% 58.01%
Selling, General & Admin $5.303M $5.426M $5.491M
YoY Change -4.1% -1.19% 10.04%
% of Gross Profit 136.39% 130.84% 151.59%
Research & Development $1.597M $1.565M $1.148M
YoY Change 22.46% 36.27% 237.75%
% of Gross Profit 41.06% 37.73% 31.7%
Depreciation & Amortization $212.9K $213.1K $109.3K
YoY Change 69.14% 95.07% -8.96%
% of Gross Profit 5.48% 5.14% 3.02%
Operating Expenses $7.113M $7.204M $6.749M
YoY Change 2.2% 6.74% 24.06%
Operating Profit -$3.225M -$3.057M -$3.127M
YoY Change -10.76% -2.23% 41.47%
Interest Expense $130.0K $124.8K -$8.600K
YoY Change -816.65% -1551.4% -14.0%
% of Operating Profit
Other Income/Expense, Net $128.7K $68.54K -$8.598K
YoY Change -809.49% -897.2%
Pretax Income -$3.096M -$2.988M -$3.135M
YoY Change -14.75% -4.68% 41.22%
Income Tax -$600.0K -$577.4K -$597.6K
% Of Pretax Income
Net Earnings -$2.496M -$2.411M -$2.538M
YoY Change -14.56% -4.99% 98.84%
Net Earnings / Revenue -35.98% -32.61% -40.64%
Basic Earnings Per Share -$0.05 -$0.05 -$0.06
Diluted Earnings Per Share -$0.05 -$0.05 -$56.81K
COMMON SHARES
Basic Shares Outstanding 45.61M shares 45.52M shares 44.67M shares
Diluted Shares Outstanding 45.61M shares 45.49M shares 44.67M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.72M $12.22M $22.58M
YoY Change -35.84% -45.85% -15.66%
Cash & Equivalents $11.72M $12.22M $22.58M
Short-Term Investments
Other Short-Term Assets $770.0K $1.172M $1.511M
YoY Change -33.94% -22.42% 118.96%
Inventory $5.278M $6.638M $6.018M
Prepaid Expenses $772.9K $1.172M
Receivables $3.640M $4.165M $3.145M
Other Receivables $1.130M $1.015M $680.1K
Total Short-Term Assets $22.54M $25.21M $33.93M
YoY Change -27.21% -25.69% -13.2%
LONG-TERM ASSETS
Property, Plant & Equipment $3.812M $3.906M $6.073M
YoY Change 35.02% -35.68% 346.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $98.97K $98.97K $2.628M
YoY Change 11.49% -96.23% 141.14%
Total Long-Term Assets $13.45M $13.04M $9.496M
YoY Change 17.07% 37.31% 189.52%
TOTAL ASSETS
Total Short-Term Assets $22.54M $25.21M $33.93M
Total Long-Term Assets $13.45M $13.04M $9.496M
Total Assets $36.00M $38.25M $43.43M
YoY Change -15.23% -11.91% 2.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.575M $1.503M $1.268M
YoY Change -34.11% 18.54% -33.96%
Accrued Expenses $1.362M $1.592M $3.073M
YoY Change -31.0% -48.21% 17.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $218.4K $255.6K
YoY Change -14.56%
Long-Term Debt Due $100.0K $99.69K
YoY Change 50.38%
Total Short-Term Liabilities $4.077M $4.524M $4.713M
YoY Change -28.86% -4.0% 4.03%
LONG-TERM LIABILITIES
Long-Term Debt $340.0K $368.8K $0.00
YoY Change 20.58%
Other Long-Term Liabilities $3.480M $3.565M $3.914M
YoY Change -9.09% -8.92% 6423.2%
Total Long-Term Liabilities $3.820M $3.933M $3.914M
YoY Change -7.05% 0.5% 6423.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.077M $4.524M $4.713M
Total Long-Term Liabilities $3.820M $3.933M $3.914M
Total Liabilities $7.895M $8.458M $8.627M
YoY Change -19.77% -1.96% 87.94%
SHAREHOLDERS EQUITY
Retained Earnings -$14.48M -$11.98M
YoY Change 127.32%
Common Stock $46.42M $45.62M
YoY Change 8.38%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.844M $3.844M
YoY Change 0.0%
Treasury Stock Shares 3.421M shares
Shareholders Equity $28.10M $29.80M $34.80M
YoY Change
Total Liabilities & Shareholders Equity $36.00M $38.25M $43.43M
YoY Change -15.23% -11.91% 2.5%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$2.496M -$2.411M -$2.538M
YoY Change -14.56% -4.99% 98.84%
Depreciation, Depletion And Amortization $212.9K $213.1K $109.3K
YoY Change 69.14% 95.07% -8.96%
Cash From Operating Activities -$150.0K -$4.661M -$1.752M
YoY Change -94.78% 166.0% -32.87%
INVESTING ACTIVITIES
Capital Expenditures $110.0K $283.8K -$752.6K
YoY Change -109.35% -137.71% 584.18%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$110.0K -$283.8K -$752.6K
YoY Change -90.65% -62.29% 652.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -240.0K -$239.0K -253.0K
YoY Change -8.47% -5.53% -111.66%
NET CHANGE
Cash From Operating Activities -150.0K -$4.661M -1.752M
Cash From Investing Activities -110.0K -$283.8K -752.6K
Cash From Financing Activities -240.0K -$239.0K -253.0K
Net Change In Cash -500.0K -$5.183M -2.758M
YoY Change -88.4% 87.96% 410.67%
FREE CASH FLOW
Cash From Operating Activities -$150.0K -$4.661M -$1.752M
Capital Expenditures $110.0K $283.8K -$752.6K
Free Cash Flow -$260.0K -$4.944M -$999.5K
YoY Change -84.68% 394.7% -60.02%

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CY2022Q1 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-38145 usd
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
233551 usd
CY2022Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-88601 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-288786 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
11805 usd
CY2023Q1 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
4207 usd
CY2022Q1 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
25625 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-888679 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
40447 usd
CY2023Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-41984 usd
CY2022Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
345712 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
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CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4660583 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
272605 usd
CY2022Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
750908 usd
CY2023Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
11232 usd
CY2022Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1694 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-283837 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-752602 usd
CY2023Q1 krmd Payments On Indebtedness
PaymentsOnIndebtedness
214892 usd
CY2022Q1 krmd Payments On Indebtedness
PaymentsOnIndebtedness
252968 usd
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
24080 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-238972 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-252968 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5183392 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2757642 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17408257 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
25334889 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
12224865 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
22577247 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
12326 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
4425 usd
CY2023Q1 krmd Issuance Of Common Stock Compensation
IssuanceOfCommonStockCompensation
175776 usd
CY2022Q1 krmd Issuance Of Common Stock Compensation
IssuanceOfCommonStockCompensation
142500 usd
CY2023Q1 us-gaap Depreciation
Depreciation
197233 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
31325963 usd
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
175776 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
535059 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
170387 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-2410885 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
29796300 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
36501055 usd
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
142500 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
524670 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
170386 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-2537514 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
34801097 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_84D_eus-gaap--NatureOfOperations_zzKIRQSGA5k" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_864_zB3oBBH8V2kf">NATURE OF OPERATIONS</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">KORU MEDICAL SYSTEMS, INC. (the “Company,” “KORU Medical,” “we,” “us” or “our”) designs, manufactures and markets proprietary portable and innovative medical devices primarily for the subcutaneous drug delivery market as governed by the United States Food and Drug Administration (the “FDA”) quality and regulatory system and international standards for quality system management. The Company operates as <span id="xdx_90D_eus-gaap--NumberOfReportableSegments_dxH_uN_c20230101__20230331_z6khHWU8N249" title="Number of segment::XDX::1">one</span> segment.</p>
CY2023Q1 us-gaap Cash Uninsured Amount
CashUninsuredAmount
250000 usd
CY2022Q1 us-gaap Depreciation
Depreciation
94085 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3706874 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3786545 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
349304 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
345834 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3564619 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-2410885 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-2537514 usd
CY2023Q1 krmd Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
45487593 shares
CY2022Q1 krmd Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
44667977 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_841_eus-gaap--UseOfEstimates_znCXw0p66DZi" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_863_zBvJqyLqXjYa">USE OF ESTIMATES IN THE FINANCIAL STATEMENTS</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.  Actual results could differ from those estimates. Important estimates include but are not limited to asset lives, valuation allowances, inventory valuation, and accruals.</p>
CY2023Q1 krmd Schedule Of Net Sales By Geography
ScheduleOfNetSalesByGeography
<p id="xdx_893_ecustom--ScheduleOfNetSalesByGeography_zDtUX3Yrh4q4" style="font: 10pt Times New Roman, Times, Serif; margin: 0">The following table summarizes net revenues by geography for the three months ended March 31, 2023, and 2022:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_8BA_zo7P6NdxwyU9" style="display: none; visibility: hidden">Schedule of net sales by geography</span> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 6.5in; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white"> <td> </td> <td> </td> <td colspan="5" style="border-bottom: black 1pt solid; text-align: center"><b>Three Months Ended March 31,</b></td> <td> </td> <td colspan="5" style="border-bottom: black 1pt solid; text-align: center"><b>% of Total Revenues</b></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><b>2023</b></td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><b>2022</b></td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><b>2023</b></td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><b>2022</b></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 94.75pt"><b>Revenues</b></td> <td style="width: 8.65pt"> </td> <td style="width: 8.6pt"> </td> <td style="width: 66.5pt; text-align: right"> </td> <td style="width: 18.8pt"> </td> <td style="width: 8.6pt"> </td> <td style="width: 66.5pt; text-align: right"> </td> <td style="width: 0.25in"> </td> <td style="width: 8.6pt"> </td> <td style="width: 66.5pt; text-align: right"> </td> <td style="width: 18.8pt"> </td> <td style="width: 8.6pt"> </td> <td style="width: 66.5pt; text-align: right"> </td> <td style="width: 8.6pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #E6E6E6"> <td style="padding-left: 0.2in">Domestic</td> <td> </td> <td>$</td> <td id="xdx_98B_eus-gaap--Revenues_c20230101__20230331__srt--StatementGeographicalAxis__country--US_zIAtShZb6s3" style="text-align: right" title="Net Revenue">6,283,965</td> <td> </td> <td>$</td> <td id="xdx_98E_eus-gaap--Revenues_c20220101__20220331__srt--StatementGeographicalAxis__country--US_zKtpwKDLTVN3" style="text-align: right" title="Net Revenue">5,301,388</td> <td> </td> <td> </td> <td id="xdx_980_ecustom--RevenuesInPercentage_pid_dp_uPure_c20230101__20230331__srt--StatementGeographicalAxis__country--US_zKJZfHLkk0k5" style="text-align: right" title="Net revenues (in percentage)">85%</td> <td> </td> <td> </td> <td id="xdx_98F_ecustom--RevenuesInPercentage_pid_dp_uPure_c20220101__20220331__srt--StatementGeographicalAxis__country--US_zca8xBQ4TKO3" style="text-align: right" title="Net revenues (in percentage)">85%</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 0.2in">International</td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td id="xdx_986_eus-gaap--Revenues_c20230101__20230331__srt--StatementGeographicalAxis__us-gaap--NonUsMember_zZRI8AkPece2" style="border-bottom: black 1pt solid; text-align: right" title="Net Revenues">1,108,640</td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td id="xdx_981_eus-gaap--Revenues_c20220101__20220331__srt--StatementGeographicalAxis__us-gaap--NonUsMember_zYtXfIWBDRze" style="border-bottom: black 1pt solid; text-align: right" title="Net Revenues">942,942</td> <td> </td> <td> </td> <td id="xdx_98B_ecustom--RevenuesInPercentage_c20230101__20230331__srt--StatementGeographicalAxis__us-gaap--NonUsMember_zjR2Hj4aAMai" style="text-align: right" title="Net revenues (in percentage)">15%</td> <td> </td> <td> </td> <td id="xdx_980_ecustom--RevenuesInPercentage_c20220101__20220331__srt--StatementGeographicalAxis__us-gaap--NonUsMember_zsJMVkuTBuA6" style="text-align: right" title="Net revenues (in percentage)">15%</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #E6E6E6"> <td><b>Total</b></td> <td> </td> <td style="border-bottom: black 2.25pt double">$</td> <td id="xdx_986_eus-gaap--Revenues_c20230101__20230331_zL0JtpDNc4Ve" style="border-bottom: black 2.25pt double; text-align: right" title="Revenues">7,392,605</td> <td> </td> <td style="border-bottom: black 2.25pt double">$</td> <td id="xdx_98E_eus-gaap--Revenues_c20220101__20220331_z2U25SPxZzwf" style="border-bottom: black 2.25pt double; text-align: right" title="Revenues">6,244,330</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> </table>
CY2023Q1 us-gaap Revenues
Revenues
7392605 usd
CY2022Q1 us-gaap Revenues
Revenues
6244330 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3886975 usd
CY2023Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
500000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6130730 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6681378 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2224663 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2794403 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
113813 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
63193 usd
CY2023Q1 us-gaap Debt Instrument Priority
DebtInstrumentPriority
(i) extends the maturity date of the Loan from June 1, 2022 to June 1, 2023; (ii) changes the interest rate applicable to the Loan from Prime – 1.50% to Prime + 0%; (iii) releases the Company from its obligations under a certain security agreement dated June 24, 2021 pursuant to which the Company had previously granted the Lender a first priority security interest in all equipment, inventory, accounts, instruments, chattel paper and general intangibles of the Company (the “Security Agreement”); and (iv) replaces the Security Agreement with a new pledge security agreement dated June 29, 2022 by and between the Company
CY2022Q3 us-gaap Debt Instrument Frequency Of Periodic Payment
DebtInstrumentFrequencyOfPeriodicPayment
Monthly payments are due on the first of each month beginning August 1, 2022 through June 1, 2023.
CY2023Q1 krmd Description Of Lessor Operating Lease Term
DescriptionOfLessorOperatingLeaseTerm
Our operating lease has remaining lease term of nine years and 4 months.
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
112522 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
78442 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
52894 usd
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
49709 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
165416 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
128151 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
27223 usd
CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
6720 usd
CY2023Q1 krmd Finance Lease Cost
FinanceLeaseCost
33943 usd
CY2023Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
30800 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3653257 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3913923 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3999091 usd
CY2023Q1 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
544468 usd
CY2022Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
544468 usd
CY2023Q1 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
78118 usd
CY2022Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
50895 usd
CY2023Q1 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
466350 usd
CY2022Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
493573 usd
CY2023Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
99694 usd
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
98335 usd
CY2023Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
368844 usd
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
394283 usd
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
468538 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
492618 usd
CY2023Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0400 pure
CY2022Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.040 pure
CY2023Q1 us-gaap Lessee Finance Lease Discount Rate
LesseeFinanceLeaseDiscountRate
0.0425 pure
CY2022Q4 us-gaap Lessee Finance Lease Discount Rate
LesseeFinanceLeaseDiscountRate
0.0425 pure
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
374627 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
92400 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
499503 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
123200 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
499503 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
123200 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
499503 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
123200 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
499503 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
65957 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
2331014 usd
CY2023Q1 krmd Lessee Operating Lease Liability Payments Due Total
LesseeOperatingLeaseLiabilityPaymentsDueTotal
4703653 usd
CY2023Q1 krmd Lessee Financing Lease Lease Liability Payments Due Total
LesseeFinancingLeaseLeaseLiabilityPaymentsDueTotal
527957 usd
CY2023Q1 krmd Lessee Operating Lease Imputed Interest
LesseeOperatingLeaseImputedInterest
789730 usd
CY2023Q1 krmd Lessee Financing Lease Imputed Interest
LesseeFinancingLeaseImputedInterest
59419 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3913923 usd
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
468538 usd

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