2024 Q4 Form 10-Q Financial Statement

#000174183024000067 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $2.400M
YoY Change 166.67%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.545M
YoY Change -22.08%
% of Gross Profit
Research & Development $12.27M
YoY Change -51.59%
% of Gross Profit
Depreciation & Amortization $400.0K
YoY Change -20.0%
% of Gross Profit
Operating Expenses $18.09M
YoY Change -47.94%
Operating Profit -$15.72M
YoY Change -53.54%
Interest Expense $1.608M
YoY Change -34.37%
% of Operating Profit
Other Income/Expense, Net $1.608M
YoY Change -34.39%
Pretax Income -$14.11M
YoY Change -55.03%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$14.11M
YoY Change -55.03%
Net Earnings / Revenue -587.83%
Basic Earnings Per Share -$0.23
Diluted Earnings Per Share -$0.23
COMMON SHARES
Basic Shares Outstanding 60.34M shares 60.29M shares
Diluted Shares Outstanding 60.31M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $124.9M
YoY Change -33.12%
Cash & Equivalents $74.96M
Short-Term Investments $49.89M
Other Short-Term Assets $3.062M
YoY Change -30.41%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $127.9M
YoY Change -33.22%
LONG-TERM ASSETS
Property, Plant & Equipment $7.233M
YoY Change -36.05%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $577.0K
YoY Change -40.52%
Total Long-Term Assets $22.11M
YoY Change -52.39%
TOTAL ASSETS
Total Short-Term Assets $127.9M
Total Long-Term Assets $22.11M
Total Assets $150.0M
YoY Change -36.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.279M
YoY Change -68.67%
Accrued Expenses $8.850M
YoY Change -3.29%
Deferred Revenue $5.159M
YoY Change -39.85%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.38M
YoY Change -40.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $23.51M
YoY Change
Total Long-Term Liabilities $23.51M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $15.38M
Total Long-Term Liabilities $23.51M
Total Liabilities $38.90M
YoY Change -34.49%
SHAREHOLDERS EQUITY
Retained Earnings -$569.1M
YoY Change 17.7%
Common Stock $60.00K
YoY Change 3.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $111.1M
YoY Change
Total Liabilities & Shareholders Equity $150.0M
YoY Change -36.96%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$14.11M
YoY Change -55.03%
Depreciation, Depletion And Amortization $400.0K
YoY Change -20.0%
Cash From Operating Activities -$12.37M
YoY Change -45.24%
INVESTING ACTIVITIES
Capital Expenditures -$7.000K
YoY Change -103.18%
Acquisitions
YoY Change
Other Investing Activities $17.12M
YoY Change -52.45%
Cash From Investing Activities $17.13M
YoY Change -52.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.000K
YoY Change
NET CHANGE
Cash From Operating Activities -12.37M
Cash From Investing Activities 17.13M
Cash From Financing Activities -1.000K
Net Change In Cash 4.757M
YoY Change -63.96%
FREE CASH FLOW
Cash From Operating Activities -$12.37M
Capital Expenditures -$7.000K
Free Cash Flow -$12.36M
YoY Change -45.8%

Facts In Submission

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2475000 usd
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kron Reclassification From Research And Development Expense To Restructuring Settlement And Impairment Provisions
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<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div>The preparation of condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of assets and liabilities at the date of the condensed financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed financial statements include, but are not limited to, revenue, the accrual of research and development expenses, the fair value of investments, the fair value of long-lived assets, income tax uncertainties, the valuation of equity instruments and the incremental borrowing rate for determining the operating lease assets and liabilities. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Actual results could differ from the Company’s estimates.
CY2024Q3 kron Cash And Cash Equivalent And Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
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2310000 usd
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5821000 usd
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ImpairmentOfLongLivedAssetsHeldForUse
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OperatingLeaseImpairmentLoss
5400000 usd
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2900000 usd
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OperatingLeaseImpairmentLoss
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600000 usd
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RevenueFromContractWithCustomerExcludingAssessedTax
2400000 usd
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RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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OperatingLeaseRightOfUseAsset
12269000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
19657000 usd
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OperatingLeaseLiabilityCurrent
3259000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2893000 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
22539000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
25379000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
25798000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
28272000 usd
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1148000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1458000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
3793000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
4013000 usd
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OperatingLeasePayments
1900000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
4400000 usd
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
1300000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
3700000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
984000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5921000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5405000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4874000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5020000 usd
CY2024Q3 kron Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
11404000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
33608000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
7810000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
25798000 usd
CY2024Q3 kron Research And Development Arrangement Contract To Perform For Others Sales Milestone Payable
ResearchAndDevelopmentArrangementContractToPerformForOthersSalesMilestonePayable
0 usd
CY2023Q4 kron Research And Development Arrangement Contract To Perform For Others Sales Milestone Payable
ResearchAndDevelopmentArrangementContractToPerformForOthersSalesMilestonePayable
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
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CY2024Q3 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
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us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
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UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
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CY2023Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
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CY2023Q3 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
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CY2024Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8253000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.92
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y8M26D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
19000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2485000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.03
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1613000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
8.90
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
56000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.74
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9069000 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.80
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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85000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
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CY2023 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.74
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
5400000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2030000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6296000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11939000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19809000 usd
CY2024Q3 us-gaap Net Income Loss
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-14108000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
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-60266000 usd
us-gaap Net Income Loss
NetIncomeLoss
-87353000 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60312000 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60312000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58146000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58146000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59979000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59979000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57567000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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57567000 shares
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.23
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.54
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.54
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.52
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.52
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11225000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12976000 shares

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