$MBOT
Microbot Medical Inc.

2014 Q3 Form 10-Q Financial Statement

#000119312514306843 Filed on August 12, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2013 Q2
Revenue $82.00K $23.00K $33.00K
YoY Change 115.79% -30.3% -86.75%
Cost Of Revenue $58.16K $78.10K $77.57K
YoY Change -32.17% 0.68% 21.21%
Gross Profit $211.5K $164.1K $204.1K
YoY Change -11.52% -19.6% 10.6%
Gross Profit Margin 257.93% 713.51% 618.56%
Selling, General & Admin $2.071M $2.176M $1.582M
YoY Change 21.07% 37.58% -10.92%
% of Gross Profit 979.29% 1325.84% 774.78%
Research & Development $4.397M $5.839M $4.805M
YoY Change -15.19% 21.53% 28.16%
% of Gross Profit 2078.89% 3558.24% 2353.91%
Depreciation & Amortization $246.0K $330.0K $230.0K
YoY Change -5.38% 43.48% -8.0%
% of Gross Profit 116.31% 201.09% 112.68%
Operating Expenses $6.462M $7.983M $6.131M
YoY Change -2.5% 30.21% 10.79%
Operating Profit -$6.380M -$7.960M -$6.221M
YoY Change -4.15% 27.94% 16.29%
Interest Expense $311.3K $343.2K $392.9K
YoY Change -18.52% -12.63% 2671.46%
% of Operating Profit
Other Income/Expense, Net $3.760M -$4.011M $352.6K
YoY Change -802.03% -1237.67% -94.3%
Pretax Income -$2.620M -$11.95M -$5.870M
YoY Change -63.56% 103.58% -807.23%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.757M -$12.12M -$5.869M
YoY Change -61.66% 106.44% -804.52%
Net Earnings / Revenue -3362.42% -52674.89% -17783.88%
Basic Earnings Per Share
Diluted Earnings Per Share -$69.00M -$403.0M -$293.5M
COMMON SHARES
Basic Shares Outstanding 68.64M shares 55.51M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.21M $17.85M $24.18M
YoY Change 53.67% -26.18% 171.69%
Cash & Equivalents $32.21M $17.85M $22.75M
Short-Term Investments $1.430M
Other Short-Term Assets $40.00K $107.4K $704.0K
YoY Change -63.84% -84.75% -40.84%
Inventory
Prepaid Expenses $1.037M $690.2K $569.0K
Receivables $70.50K $88.04K $68.47K
Other Receivables $170.0K $130.0K $420.0K
Total Short-Term Assets $33.56M $18.90M $25.99M
YoY Change 51.19% -27.29% 149.71%
LONG-TERM ASSETS
Property, Plant & Equipment $5.126M $5.141M $3.451M
YoY Change -5.75% 48.99% 105.41%
Goodwill $2.094M $2.208M $1.855M
YoY Change 6.1% 19.01%
Intangibles $1.584M $1.727M $1.654M
YoY Change -5.32% 4.39%
Long-Term Investments
YoY Change
Other Assets $399.7K $373.7K $1.054M
YoY Change -60.02% -64.54% 0.37%
Total Long-Term Assets $9.208M $9.458M $8.057M
YoY Change -8.99% 17.39% 23.2%
TOTAL ASSETS
Total Short-Term Assets $33.56M $18.90M $25.99M
Total Long-Term Assets $9.208M $9.458M $8.057M
Total Assets $42.77M $28.36M $34.05M
YoY Change 32.35% -16.72% 100.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.217M $1.706M $3.022M
YoY Change -34.59% -43.54% 297.57%
Accrued Expenses $2.611M $2.613M $1.918M
YoY Change 13.33% 36.26% -41.71%
Deferred Revenue
YoY Change
Short-Term Debt $3.920M $3.830M $2.610M
YoY Change 8.89% 46.74%
Long-Term Debt Due $20.00K $17.92K $213.8K
YoY Change -88.81% -91.62% 6.88%
Total Short-Term Liabilities $7.869M $8.296M $7.822M
YoY Change -2.39% 6.07% 82.75%
LONG-TERM LIABILITIES
Long-Term Debt $12.06M $11.13M $17.50K
YoY Change 21.82% 63500.0% -92.39%
Other Long-Term Liabilities $7.090M $11.48M $10.47M
YoY Change -34.29% 9.65% 47.88%
Total Long-Term Liabilities $19.15M $22.61M $17.50K
YoY Change -7.44% 129100.0% -99.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.869M $8.296M $7.822M
Total Long-Term Liabilities $19.15M $22.61M $17.50K
Total Liabilities $27.02M $30.90M $25.29M
YoY Change -6.02% 22.18% 118.24%
SHAREHOLDERS EQUITY
Retained Earnings -$410.0M -$407.3M -$373.4M
YoY Change 7.74% 9.08%
Common Stock $425.6M $404.4M $382.2M
YoY Change 10.84% 5.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.75M -$2.543M $8.758M
YoY Change
Total Liabilities & Shareholders Equity $42.77M $28.36M $34.05M
YoY Change 32.35% -16.72% 100.9%

Cashflow Statement

Concept 2014 Q3 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income -$2.757M -$12.12M -$5.869M
YoY Change -61.66% 106.44% -804.52%
Depreciation, Depletion And Amortization $246.0K $330.0K $230.0K
YoY Change -5.38% 43.48% -8.0%
Cash From Operating Activities -$6.680M -$7.770M -$3.780M
YoY Change 11.33% 105.56% -25.74%
INVESTING ACTIVITIES
Capital Expenditures -$240.0K -$130.0K -$2.100M
YoY Change -88.79% -93.81% 10400.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $8.390M
YoY Change -100.0% 1806.82%
Cash From Investing Activities -$240.0K -$130.0K $6.290M
YoY Change -66.2% -102.07% 1329.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 21.29M -720.0K 13.00M
YoY Change 333.6% -105.54% 441.67%
NET CHANGE
Cash From Operating Activities -6.680M -7.770M -3.780M
Cash From Investing Activities -240.0K -130.0K 6.290M
Cash From Financing Activities 21.29M -720.0K 13.00M
Net Change In Cash 14.37M -8.620M 15.51M
YoY Change -898.33% -155.58% -789.33%
FREE CASH FLOW
Cash From Operating Activities -$6.680M -$7.770M -$3.780M
Capital Expenditures -$240.0K -$130.0K -$2.100M
Free Cash Flow -$6.440M -$7.640M -$1.680M
YoY Change 66.84% 354.76% -66.86%

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dei Document Period End Date
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2014-06-30
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dei Current Fiscal Year End Date
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> Use of Estimates</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, assumptions and estimates that affect the amounts reported in our condensed consolidated financial statements and accompanying notes. Actual results could differ materially from these estimates.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Significant estimates include the following:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="1%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">the grant date fair value of stock-based awards recognized as compensation expense (see Note 5, &#x201C;Stock-Based Compensation&#x201D;);</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="1%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">the fair value of warrants recorded as a liability (see Note 8, &#x201C;Warrant Liability&#x201D;); and</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="1%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">the fair value of goodwill and other intangible assets (see Note 4, &#x201C;Goodwill and Other Intangible Assets&#x201D;).</td> </tr> </table> </div>
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