2021 Q2 Form 10-Q Financial Statement

#000095017021000674 Filed on August 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $5.263M $6.045M
YoY Change -12.94% -51.76%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $17.45M $6.490M
YoY Change 168.89% 16.52%
% of Gross Profit
Research & Development $35.95M $20.10M
YoY Change 78.88% 12.25%
% of Gross Profit
Depreciation & Amortization $1.426M $1.691M
YoY Change -15.67% -11.97%
% of Gross Profit
Operating Expenses $53.41M $26.59M
YoY Change 100.85% 13.25%
Operating Profit -$48.14M -$20.55M
YoY Change 134.32% 87.66%
Interest Expense $97.00K -$650.0K
YoY Change -114.92% -443.92%
% of Operating Profit
Other Income/Expense, Net -$188.0K -$169.0K
YoY Change 11.24% -189.42%
Pretax Income -$48.33M -$20.71M
YoY Change 133.37% 92.47%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$48.33M -$20.71M
YoY Change 133.32% 92.53%
Net Earnings / Revenue -918.3% -342.66%
Basic Earnings Per Share -$0.53
Diluted Earnings Per Share -$0.53 -$282.5K
COMMON SHARES
Basic Shares Outstanding 91.66M
Diluted Shares Outstanding 91.66M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $214.6M $63.90M
YoY Change 235.76% -37.48%
Cash & Equivalents $74.00M $61.54M
Short-Term Investments $140.6M $2.400M
Other Short-Term Assets $8.751M $5.800M
YoY Change 50.88% 11.54%
Inventory
Prepaid Expenses
Receivables $1.251M $2.929M
Other Receivables $0.00 $0.00
Total Short-Term Assets $224.6M $72.72M
YoY Change 208.81% -33.28%
LONG-TERM ASSETS
Property, Plant & Equipment $15.05M $16.31M
YoY Change -7.72% -28.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $14.88M
YoY Change
Other Assets $602.0K $1.400M
YoY Change -57.0% -6.67%
Total Long-Term Assets $45.09M $27.98M
YoY Change 61.14% -24.57%
TOTAL ASSETS
Total Short-Term Assets $224.6M $72.72M
Total Long-Term Assets $45.09M $27.98M
Total Assets $269.6M $100.7M
YoY Change 167.77% -31.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.450M $4.200M
YoY Change 29.76% -11.84%
Accrued Expenses $10.88M $8.200M
YoY Change 32.66% 2.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $6.298M
YoY Change
Total Short-Term Liabilities $56.17M $44.20M
YoY Change 27.07% 2.62%
LONG-TERM LIABILITIES
Long-Term Debt $19.04M $24.90M
YoY Change -23.55%
Other Long-Term Liabilities $1.119M $752.0K
YoY Change 48.8% 14.11%
Total Long-Term Liabilities $1.119M $752.0K
YoY Change 48.8% 14.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $56.17M $44.20M
Total Long-Term Liabilities $1.119M $752.0K
Total Liabilities $168.6M $166.3M
YoY Change 1.4% 1.34%
SHAREHOLDERS EQUITY
Retained Earnings -$632.6M -$500.2M
YoY Change 26.45% 17.85%
Common Stock $733.6M $434.7M
YoY Change 68.78% 6.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $101.1M -$65.58M
YoY Change
Total Liabilities & Shareholders Equity $269.6M $100.7M
YoY Change 167.83% -31.09%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$48.33M -$20.71M
YoY Change 133.32% 92.53%
Depreciation, Depletion And Amortization $1.426M $1.691M
YoY Change -15.67% -11.97%
Cash From Operating Activities -$39.69M -$25.50M
YoY Change 55.65% 116.1%
INVESTING ACTIVITIES
Capital Expenditures -$2.596M -$200.0K
YoY Change 1198.0% -33.33%
Acquisitions
YoY Change
Other Investing Activities $49.09M $17.90M
YoY Change 174.22%
Cash From Investing Activities $46.49M $17.70M
YoY Change 162.66% -6000.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 549.0K 14.60M
YoY Change -96.24% -75.95%
NET CHANGE
Cash From Operating Activities -39.69M -25.50M
Cash From Investing Activities 46.49M 17.70M
Cash From Financing Activities 549.0K 14.60M
Net Change In Cash 7.348M 6.800M
YoY Change 8.06% -86.01%
FREE CASH FLOW
Cash From Operating Activities -$39.69M -$25.50M
Capital Expenditures -$2.596M -$200.0K
Free Cash Flow -$37.10M -$25.30M
YoY Change 46.62% 120.0%

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<p style="text-indent:0.0pt;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="color:rgba(0,0,0,1);font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Use of Estimates</span></p><p style="text-indent:24.5pt;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">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, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. In the condensed consolidated financial statements, the Company uses estimates and assumptions related to revenue recognition and the accrual of research and development expenses. Estimates are periodically reviewed in light of changes in circumstances, facts and experience.</span><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:24.5pt;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company’s business, results of operations and financial condition, including revenue, operating expenses, clinical trials and employee-related amounts, will depend on future developments that are highly uncertain, including new information that may emerge concerning COVID-19 and the actions taken to contain it or treat its impact and the economic impact on local, regional, national and international markets. We have made estimates of the impact of COVID-19 within our financial statements and there may be changes to those estimates in future periods. Actual results could differ from the Company’s estimates.</span></p>
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0

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