2024 Q4 Form 10-Q Financial Statement

#000162828024044445 Filed on October 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $62.18M
YoY Change
Cost Of Revenue $2.152M
YoY Change
Gross Profit $60.02M
YoY Change
Gross Profit Margin 96.54%
Selling, General & Admin $107.6M
YoY Change 289.8%
% of Gross Profit 179.24%
Research & Development $68.74M
YoY Change -3.11%
% of Gross Profit 114.53%
Depreciation & Amortization $298.0K
YoY Change 112.86%
% of Gross Profit 0.5%
Operating Expenses $178.5M
YoY Change 81.13%
Operating Profit -$116.3M
YoY Change 18.03%
Interest Expense $3.679M
YoY Change 4.99%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$107.0M
YoY Change 8.37%
Income Tax
% Of Pretax Income
Net Earnings -$107.0M
YoY Change 8.33%
Net Earnings / Revenue -172.04%
Basic Earnings Per Share -$4.92
Diluted Earnings Per Share -$4.92
COMMON SHARES
Basic Shares Outstanding 21.81M shares 21.71M shares
Diluted Shares Outstanding 21.75M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $998.6M
YoY Change 329.79%
Cash & Equivalents $232.7M
Short-Term Investments $765.9M
Other Short-Term Assets
YoY Change
Inventory $8.715M
Prepaid Expenses
Receivables $30.46M
Other Receivables
Total Short-Term Assets $1.064B
YoY Change 351.72%
LONG-TERM ASSETS
Property, Plant & Equipment $2.268M
YoY Change 244.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $9.599M
YoY Change 284.73%
TOTAL ASSETS
Total Short-Term Assets $1.064B
Total Long-Term Assets $9.599M
Total Assets $1.073B
YoY Change 351.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.97M
YoY Change 177.87%
Accrued Expenses $131.0M
YoY Change 58.58%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $177.8M
YoY Change 78.44%
LONG-TERM LIABILITIES
Long-Term Debt $117.1M
YoY Change 2.06%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $118.3M
YoY Change 1.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $177.8M
Total Long-Term Liabilities $118.3M
Total Liabilities $296.1M
YoY Change 37.27%
SHAREHOLDERS EQUITY
Retained Earnings -$1.743B
YoY Change 42.37%
Common Stock $2.519B
YoY Change 102.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $777.2M
YoY Change
Total Liabilities & Shareholders Equity $1.073B
YoY Change 351.02%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$107.0M
YoY Change 8.33%
Depreciation, Depletion And Amortization $298.0K
YoY Change 112.86%
Cash From Operating Activities -$66.98M
YoY Change -21.12%
INVESTING ACTIVITIES
Capital Expenditures $779.0K
YoY Change 129.12%
Acquisitions
YoY Change
Other Investing Activities -$201.6M
YoY Change -498.92%
Cash From Investing Activities -$202.4M
YoY Change -503.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.462M
YoY Change -61.89%
NET CHANGE
Cash From Operating Activities -66.98M
Cash From Investing Activities -202.4M
Cash From Financing Activities 7.462M
Net Change In Cash -261.9M
YoY Change 1629.94%
FREE CASH FLOW
Cash From Operating Activities -$66.98M
Capital Expenditures $779.0K
Free Cash Flow -$67.76M
YoY Change -20.52%

Facts In Submission

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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Bank Debt
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Amortization Of Financing Costs And Discounts
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mdgl Operating Lease Right Of Use Asset Periodic Reduction Increase
OperatingLeaseRightOfUseAssetPeriodicReductionIncrease
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mdgl Operating Lease Right Of Use Asset Periodic Reduction Increase
OperatingLeaseRightOfUseAssetPeriodicReductionIncrease
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
523000 usd
us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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IncreaseDecreaseInAccountsPayableTrade
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us-gaap Increase Decrease In Accounts Payable Trade
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
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mdgl Increase Decrease In Accrued Interest Net Of Interest Received
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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us-gaap Payments To Acquire Intangible Assets
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Bank Debt
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us-gaap Proceeds From Bank Debt
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Use of Estimates </span></div>The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, and the reported amounts of revenues and expenses during the reporting periods. The Company bases its estimates on historical experience and various other assumptions that management believes to be reasonable under the circumstances. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.
us-gaap Concentration Risk Credit Risk
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<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Concentrations of Credit Risk and Significant Customers</span></div>The Company generates revenue from a small number of large, reputable customers.
us-gaap Use Of Estimates
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<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Use of Estimates </span></div>The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, and the reported amounts of revenues and expenses during the reporting periods. The Company bases its estimates on historical experience and various other assumptions that management believes to be reasonable under the circumstances. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.
us-gaap Concentration Risk Credit Risk
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<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Concentrations of Credit Risk and Significant Customers</span></div>The Company generates revenue from a small number of large, reputable customers.
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us-gaap Debt Securities Available For Sale Realized Gain Loss
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CY2024Q1 us-gaap Sale Of Stock Consideration Received On Transaction
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CY2024Q2 us-gaap Sale Of Stock Consideration Received On Transaction
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CY2024Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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CY2024Q3 us-gaap Inventory Work In Process Net Of Reserves
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CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
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CY2024Q3 us-gaap Inventory Finished Goods Net Of Reserves
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CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
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CY2023Q4 us-gaap Inventory Net
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CY2024Q3 mdgl Accrued Contract Research Costs Current
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us-gaap Interest Expense Debt Excluding Amortization
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4066000 usd
CY2024Q3 us-gaap Long Term Debt
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mdgl Common Stock Voting Rights Number
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2355779 shares
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79.94
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3067000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2024Q3 mdgl Long Term Debt Maturity After Year Two
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CY2024Q3 us-gaap Debt Instrument Carrying Amount
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us-gaap Interest Expense Debt Excluding Amortization
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CY2024Q3 us-gaap Debt Instrument Unamortized Discount
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CY2024Q3 us-gaap Long Term Debt
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mdgl Common Stock Voting Rights Number
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2355779 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2024Q3 us-gaap Allocated Share Based Compensation Expense
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P2Y8M15D
us-gaap Revenues
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CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2024Q3 us-gaap Allocated Share Based Compensation Expense
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17898000 usd
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12660000 usd
us-gaap Allocated Share Based Compensation Expense
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62204000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
34883000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17898000 usd
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AllocatedShareBasedCompensationExpense
12660000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
62204000 usd
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CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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139100000 usd
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P2Y8M15D
us-gaap Revenues
Revenues
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1200000 usd
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CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
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false

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