2024 Q4 Form 10-Q Financial Statement

#000181577624000071 Filed on November 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.494M
YoY Change -42.48%
% of Gross Profit
Research & Development $6.451M
YoY Change 170.6%
% of Gross Profit
Depreciation & Amortization $10.00K
YoY Change -98.75%
% of Gross Profit
Operating Expenses $12.95M
YoY Change -48.28%
Operating Profit -$12.95M
YoY Change -48.28%
Interest Expense $2.736M
YoY Change -7.57%
% of Operating Profit
Other Income/Expense, Net $2.730M
YoY Change 7.4%
Pretax Income -$10.22M
YoY Change -54.58%
Income Tax
% Of Pretax Income
Net Earnings -$10.22M
YoY Change -54.57%
Net Earnings / Revenue
Basic Earnings Per Share -$0.38
Diluted Earnings Per Share -$0.38
COMMON SHARES
Basic Shares Outstanding 27.50M shares 27.50M shares
Diluted Shares Outstanding 27.17M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $217.1M
YoY Change -7.21%
Cash & Equivalents $41.05M
Short-Term Investments $176.1M
Other Short-Term Assets $3.597M
YoY Change -25.06%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $220.7M
YoY Change -7.57%
LONG-TERM ASSETS
Property, Plant & Equipment $372.0K
YoY Change -97.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.398M
YoY Change
Total Long-Term Assets $3.303M
YoY Change -87.97%
TOTAL ASSETS
Total Short-Term Assets $220.7M
Total Long-Term Assets $3.303M
Total Assets $224.0M
YoY Change -15.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.762M
YoY Change -26.41%
Accrued Expenses $4.948M
YoY Change -43.77%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.710M
YoY Change -38.5%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $64.00K
YoY Change -99.87%
Total Long-Term Liabilities $64.00K
YoY Change -99.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.710M
Total Long-Term Liabilities $64.00K
Total Liabilities $8.727M
YoY Change -85.97%
SHAREHOLDERS EQUITY
Retained Earnings -$132.4M
YoY Change -61.52%
Common Stock $0.00
YoY Change -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $215.3M
YoY Change
Total Liabilities & Shareholders Equity $224.0M
YoY Change -15.86%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$10.22M
YoY Change -54.57%
Depreciation, Depletion And Amortization $10.00K
YoY Change -98.75%
Cash From Operating Activities -$10.58M
YoY Change 12.56%
INVESTING ACTIVITIES
Capital Expenditures $186.0K
YoY Change -96.14%
Acquisitions
YoY Change
Other Investing Activities -$62.04M
YoY Change -190.32%
Cash From Investing Activities -$62.23M
YoY Change -197.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 29.82M
YoY Change
NET CHANGE
Cash From Operating Activities -10.58M
Cash From Investing Activities -62.23M
Cash From Financing Activities 29.82M
Net Change In Cash -42.99M
YoY Change -178.92%
FREE CASH FLOW
Cash From Operating Activities -$10.58M
Capital Expenditures $186.0K
Free Cash Flow -$10.77M
YoY Change -24.28%

Facts In Submission

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The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting period. Estimates used in preparing the accompanying financial statements include, but are not limited to, estimates related to the research and development accruals, preferred stock warrants liability, and share-based compensation. Although actual results could differ from those estimates, management does not believe that such differences would be material.
us-gaap Concentration Risk Credit Risk
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<div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments, which potentially subject the Company to a concentration of credit risk, consist primarily of cash and cash equivalents and marketable securities. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.</span></div>
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CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
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CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
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11700000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
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CY2024Q3 us-gaap Liabilities Fair Value Disclosure
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CY2024Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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CY2024Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
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CY2024Q3 us-gaap Lessee Operating Lease Remaining Lease Term
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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168000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2023Q4 us-gaap Temporary Equity Shares Authorized
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CY2024Q1 lenz Stock Issued During Period Shares Reverse Recapitalization
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CY2024Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
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CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2024Q3 us-gaap Sale Of Stock Price Per Share
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CY2024Q3 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
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lenz Common Stock Voting Rights Votes Per Share
CommonStockVotingRightsVotesPerShare
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CY2024Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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CY2024Q1 lenz Class Of Warrant Or Right Preferred Stock Warrants Conversion To Common Stock Warrants
ClassOfWarrantOrRightPreferredStockWarrantsConversionToCommonStockWarrants
164676 shares
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
1900000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
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2191000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
494000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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AllocatedShareBasedCompensationExpense
825000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3099592 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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13404320 shares
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
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CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
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false

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