2024 Q3 Form 10-Q Financial Statement

#000106282224000046 Filed on August 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $1.750M $1.647M $317.0K
YoY Change 980.25% 419.56% 805.71%
Cost Of Revenue $71.00K $166.0K $8.000K
YoY Change 914.29% 1975.0%
Gross Profit $1.679M $1.481M $309.0K
YoY Change 983.23% 379.29% 782.86%
Gross Profit Margin 95.94% 89.92% 97.48%
Selling, General & Admin $39.59M $39.19M $30.01M
YoY Change 22.85% 30.61% 180.82%
% of Gross Profit 2358.07% 2646.32% 9711.33%
Research & Development $25.78M $17.64M $14.54M
YoY Change 46.83% 21.33% 8.87%
% of Gross Profit 1535.44% 1191.29% 4705.83%
Depreciation & Amortization $126.0K $139.0K $144.0K
YoY Change 26.0% -3.47% 34.58%
% of Gross Profit 7.5% 9.39% 46.6%
Operating Expenses $65.37M $56.84M $44.55M
YoY Change 31.31% 27.58% -285.3%
Operating Profit -$63.69M -$55.35M -$44.24M
YoY Change 28.33% 25.12% 84.28%
Interest Expense -$4.562M -$2.211M -$1.960M
YoY Change -217.0% 12.81% -378.81%
% of Operating Profit
Other Income/Expense, Net $4.562M $2.211M $1.296M
YoY Change 51.81% 70.6% 953.66%
Pretax Income -$64.81M -$53.43M -$44.90M
YoY Change 28.34% 18.98% 82.63%
Income Tax
% Of Pretax Income
Net Earnings -$64.81M -$53.43M -$44.90M
YoY Change 28.28% 18.98% 82.63%
Net Earnings / Revenue -3703.49% -3244.02% -14165.3%
Basic Earnings Per Share -$0.18 -$0.17 -$0.22
Diluted Earnings Per Share -$0.18 -$0.17 -$0.22
COMMON SHARES
Basic Shares Outstanding 361.5M shares 246.2M shares 204.8M shares
Diluted Shares Outstanding 361.5M shares 310.8M shares 204.8M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $258.4M $310.0M $256.7M
YoY Change 18.29% 20.73% 314.31%
Cash & Equivalents $34.55M $35.62M $102.3M
Short-Term Investments $223.8M $274.3M $154.5M
Other Short-Term Assets $6.706M $7.675M $6.124M
YoY Change 56.28% 25.33% 111.46%
Inventory $636.0K $585.0K $172.0K
Prepaid Expenses
Receivables $2.895M $2.620M $685.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $268.6M $320.8M $263.7M
YoY Change 20.25% 21.66% 306.36%
LONG-TERM ASSETS
Property, Plant & Equipment $2.135M $1.954M $2.202M
YoY Change 0.05% -11.26% 112.75%
Goodwill $44.54M $44.54M $44.54M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $828.0K $828.0K $6.259M
YoY Change 11.44% -86.77% 238.51%
Total Long-Term Assets $52.52M $52.51M $53.00M
YoY Change -1.11% -0.93% 11.76%
TOTAL ASSETS
Total Short-Term Assets $268.6M $320.8M $263.7M
Total Long-Term Assets $52.52M $52.51M $53.00M
Total Assets $321.1M $373.4M $316.7M
YoY Change 16.15% 17.88% 181.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.20M $12.22M $10.50M
YoY Change 17.99% 16.37% 42.93%
Accrued Expenses $21.85M $15.66M $15.61M
YoY Change 8.01% 0.31% 64.04%
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 $36.05M $27.88M $26.11M
YoY Change 11.73% 6.77% 54.84%
LONG-TERM LIABILITIES
Long-Term Debt $99.90M $99.50M $98.77M
YoY Change 0.64% 0.74% 317.98%
Other Long-Term Liabilities $6.670M $6.001M $5.482M
YoY Change 23.52% 9.47% 447.11%
Total Long-Term Liabilities $106.6M $105.5M $104.3M
YoY Change 7.36% 1.2% 323.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $36.05M $27.88M $26.11M
Total Long-Term Liabilities $106.6M $105.5M $104.3M
Total Liabilities $142.6M $133.4M $130.4M
YoY Change 4.12% 2.31% 214.17%
SHAREHOLDERS EQUITY
Retained Earnings -$1.933B -$1.869B -$1.667B
YoY Change 12.6% 12.13% 8.51%
Common Stock $363.0K $363.0K $245.0K
YoY Change 48.16% 48.16% 63.33%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.615M $4.615M $2.885M
YoY Change 59.97% 59.97% 39.98%
Treasury Stock Shares
Shareholders Equity $178.5M $240.0M $186.4M
YoY Change
Total Liabilities & Shareholders Equity $321.1M $373.4M $316.7M
YoY Change 16.15% 17.88% 181.97%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$64.81M -$53.43M -$44.90M
YoY Change 28.28% 18.98% 82.63%
Depreciation, Depletion And Amortization $126.0K $139.0K $144.0K
YoY Change 26.0% -3.47% 34.58%
Cash From Operating Activities -$53.62M -$48.54M -$38.12M
YoY Change 28.89% 27.34% 56.08%
INVESTING ACTIVITIES
Capital Expenditures $307.0K $250.0K $139.0K
YoY Change 207.0% 79.86%
Acquisitions
YoY Change
Other Investing Activities $53.78M -$12.07M -$74.47M
YoY Change -236.83% -83.79% 445.64%
Cash From Investing Activities $53.47M -$12.32M -$74.61M
YoY Change -236.05% -83.48% 446.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -916.0K -14.00K 189.0M
YoY Change 358.0% -100.01%
NET CHANGE
Cash From Operating Activities -53.62M -48.54M -38.12M
Cash From Investing Activities 53.47M -12.32M -74.61M
Cash From Financing Activities -916.0K -14.00K 189.0M
Net Change In Cash -1.066M -60.88M 76.27M
YoY Change -98.69% -179.82% -300.34%
FREE CASH FLOW
Cash From Operating Activities -$53.62M -$48.54M -$38.12M
Capital Expenditures $307.0K $250.0K $139.0K
Free Cash Flow -$53.93M -$48.79M -$38.26M
YoY Change 29.32% 27.54% 56.65%

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