2022 Q1 Form 10-Q Financial Statement

#000112479622000060 Filed on May 06, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $64.46M $61.35M
YoY Change 5.08% 41.95%
Cost Of Revenue $48.28M $43.70M
YoY Change 10.49% 29.62%
Gross Profit $16.18M $17.65M
YoY Change -8.32% 85.72%
Gross Profit Margin 25.1% 28.76%
Selling, General & Admin $10.78M $11.71M
YoY Change -8.02% 52.13%
% of Gross Profit 66.61% 66.39%
Research & Development $13.71M $11.71M
YoY Change 17.09% 37.15%
% of Gross Profit 84.76% 66.36%
Depreciation & Amortization $2.556M $2.157M
YoY Change 18.5% 21.93%
% of Gross Profit 15.8% 12.22%
Operating Expenses $24.49M $23.42M
YoY Change 4.53% 44.25%
Operating Profit -$8.309M -$5.779M
YoY Change 43.78% -14.22%
Interest Expense $0.00 -$74.00K
YoY Change -100.0% -126.15%
% of Operating Profit
Other Income/Expense, Net $29.00K $26.00K
YoY Change 11.54% -122.41%
Pretax Income -$8.280M -$5.827M
YoY Change 42.1% -11.31%
Income Tax $343.0K $322.0K
% Of Pretax Income
Net Earnings -$8.623M -$6.149M
YoY Change 40.23% -17.74%
Net Earnings / Revenue -13.38% -10.02%
Basic Earnings Per Share -$0.20 -$0.15
Diluted Earnings Per Share -$0.20 -$0.15
COMMON SHARES
Basic Shares Outstanding 43.66M shares 40.05M shares
Diluted Shares Outstanding 43.66M shares 40.05M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $134.9M $185.6M
YoY Change -27.29% 59.59%
Cash & Equivalents $134.9M $185.6M
Short-Term Investments
Other Short-Term Assets $6.276M $5.200M
YoY Change 20.69% 4.0%
Inventory $77.24M $58.80M
Prepaid Expenses
Receivables $36.91M $31.66M
Other Receivables $0.00 $0.00
Total Short-Term Assets $269.5M $285.6M
YoY Change -5.65% 42.96%
LONG-TERM ASSETS
Property, Plant & Equipment $58.31M $46.13M
YoY Change 26.41% 12.47%
Goodwill $12.41M $12.45M
YoY Change -0.34% 24.82%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.808M $5.038M
YoY Change -24.41% 6.78%
Total Long-Term Assets $98.41M $89.42M
YoY Change 10.05% 24.24%
TOTAL ASSETS
Total Short-Term Assets $269.5M $285.6M
Total Long-Term Assets $98.41M $89.42M
Total Assets $367.9M $375.1M
YoY Change -1.91% 38.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.12M $23.64M
YoY Change -2.2% 37.11%
Accrued Expenses $13.38M $13.92M
YoY Change -3.86% 50.56%
Deferred Revenue $983.0K $2.589M
YoY Change -62.03% 30.56%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $40.63M $42.91M
YoY Change -5.3% 37.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $29.00K
YoY Change -100.0% -99.81%
Other Long-Term Liabilities $4.193M $4.506M
YoY Change -6.95% 158.97%
Total Long-Term Liabilities $4.193M $4.535M
YoY Change -7.54% -72.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $40.63M $42.91M
Total Long-Term Liabilities $4.193M $4.535M
Total Liabilities $67.34M $71.02M
YoY Change -5.18% 20.69%
SHAREHOLDERS EQUITY
Retained Earnings -$176.7M -$144.5M
YoY Change 22.24% 15.69%
Common Stock $15.00K $15.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $300.6M $304.1M
YoY Change
Total Liabilities & Shareholders Equity $367.9M $375.1M
YoY Change -1.91% 38.0%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$8.623M -$6.149M
YoY Change 40.23% -17.74%
Depreciation, Depletion And Amortization $2.556M $2.157M
YoY Change 18.5% 21.93%
Cash From Operating Activities -$7.004M $4.115M
YoY Change -270.21% -481.37%
INVESTING ACTIVITIES
Capital Expenditures $5.019M $3.134M
YoY Change 60.15% -79.36%
Acquisitions $0.00 $291.0K
YoY Change -100.0%
Other Investing Activities $0.00 -$290.0K
YoY Change -100.0% -825.0%
Cash From Investing Activities -$5.133M -$3.505M
YoY Change 46.45% -77.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $82.76M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $611.0K $82.93M
YoY Change -99.26% 433.98%
NET CHANGE
Cash From Operating Activities -$7.004M $4.115M
Cash From Investing Activities -$5.133M -$3.505M
Cash From Financing Activities $611.0K $82.93M
Net Change In Cash -$11.59M $83.32M
YoY Change -113.91% -8414.87%
FREE CASH FLOW
Cash From Operating Activities -$7.004M $4.115M
Capital Expenditures $5.019M $3.134M
Free Cash Flow -$12.02M $981.0K
YoY Change -1325.59% -106.03%

Facts In Submission

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CY2021Q1 us-gaap Amortization Of Intangible Assets
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CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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CY2021Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
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1285000 USD
CY2022Q1 us-gaap Standard Product Warranty Accrual
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CY2021Q1 us-gaap Standard Product Warranty Accrual
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CY2021Q1 us-gaap Standard Product Warranty Accrual Noncurrent
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P8Y
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.61
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y4M24D
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CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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1.63
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39000 shares
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9.67
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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1992000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.45
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y2M12D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
31651000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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1892000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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1.34
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y1M6D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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30283000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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1992000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.45
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y2M12D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
31651000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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6400000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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15000000 USD
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
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700000 USD
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
600000 USD
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
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6553000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
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8054000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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55800000 USD
CY2022Q1 us-gaap Number Of Reportable Segments
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2 segment
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P2Y6M
CY2019Q4 us-gaap Stock Repurchase Program Authorized Amount1
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10000000 USD
CY2022Q1 us-gaap Treasury Stock Shares Acquired
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0 shares
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64459000 USD
CY2022Q1 us-gaap Gross Profit
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16177000 USD
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0.251
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61345000 USD
CY2021Q1 us-gaap Gross Profit
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17645000 USD
CY2021Q1 lasr Gross Margin
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0.288
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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3403000 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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5344000 shares

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