2022 Q1 Form 10-Q Financial Statement

#000112534522000047 Filed on May 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $11.10M $16.88M
YoY Change -34.24% 23.38%
Cost Of Revenue $48.00K $17.00K
YoY Change 182.35%
Gross Profit $11.05M $16.86M
YoY Change -34.46% 23.26%
Gross Profit Margin 99.57% 99.9%
Selling, General & Admin $16.25M $15.00M
YoY Change 8.35% 47.06%
% of Gross Profit 147.05% 88.95%
Research & Development $61.44M $53.12M
YoY Change 15.66% 8.65%
% of Gross Profit 555.85% 315.0%
Depreciation & Amortization $2.913M $2.729M
YoY Change 6.74% -11.37%
% of Gross Profit 26.35% 16.18%
Operating Expenses $61.44M $53.12M
YoY Change 15.66% 8.65%
Operating Profit -$66.64M -$51.29M
YoY Change 29.92% 12.87%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $195.0K $21.00K
YoY Change 828.57% -97.09%
Pretax Income -$66.44M -$51.30M
YoY Change 29.52% 14.77%
Income Tax
% Of Pretax Income
Net Earnings -$66.44M -$51.27M
YoY Change 29.59% 14.64%
Net Earnings / Revenue -598.53% -303.73%
Basic Earnings Per Share -$1.08 -$0.90
Diluted Earnings Per Share -$1.08 -$0.90
COMMON SHARES
Basic Shares Outstanding 61.32M shares 57.20M shares
Diluted Shares Outstanding 61.32M shares 57.20M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $184.0M $343.2M
YoY Change -46.39% 100.94%
Cash & Equivalents $47.33M $218.5M
Short-Term Investments $136.7M $124.7M
Other Short-Term Assets $14.71M $18.20M
YoY Change -19.16% 44.44%
Inventory $4.598M $6.172M
Prepaid Expenses
Receivables $14.91M $7.148M
Other Receivables $0.00 $0.00
Total Short-Term Assets $218.2M $374.7M
YoY Change -41.77% 91.88%
LONG-TERM ASSETS
Property, Plant & Equipment $36.03M $40.48M
YoY Change -10.97% -12.61%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $17.21M $20.25M
YoY Change -15.02% -14.95%
Total Long-Term Assets $53.24M $60.73M
YoY Change -12.32% -13.41%
TOTAL ASSETS
Total Short-Term Assets $218.2M $374.7M
Total Long-Term Assets $53.24M $60.73M
Total Assets $271.4M $435.4M
YoY Change -37.66% 64.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.731M $10.35M
YoY Change -63.94% 428.94%
Accrued Expenses $32.97M $34.97M
YoY Change -5.71% 39.53%
Deferred Revenue $25.56M $3.520M
YoY Change 626.19% -62.97%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $67.10M $53.04M
YoY Change 26.5% 33.91%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $258.0K $258.0K
YoY Change 0.0% -49.9%
Total Long-Term Liabilities $258.0K $258.0K
YoY Change 0.0% -49.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $67.10M $53.04M
Total Long-Term Liabilities $258.0K $258.0K
Total Liabilities $93.23M $84.91M
YoY Change 9.79% 13.46%
SHAREHOLDERS EQUITY
Retained Earnings -$1.040B -$823.1M
YoY Change 26.4% 19.84%
Common Stock $1.219B $1.174B
YoY Change 3.86% 33.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $178.2M $350.5M
YoY Change
Total Liabilities & Shareholders Equity $271.4M $435.4M
YoY Change -37.66% 64.06%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$66.44M -$51.27M
YoY Change 29.59% 14.64%
Depreciation, Depletion And Amortization $2.913M $2.729M
YoY Change 6.74% -11.37%
Cash From Operating Activities -$57.70M -$29.04M
YoY Change 98.71% -34.22%
INVESTING ACTIVITIES
Capital Expenditures $1.415M $626.0K
YoY Change 126.04% -50.04%
Acquisitions
YoY Change
Other Investing Activities -$17.07M -$33.63M
YoY Change -49.25% -384.52%
Cash From Investing Activities -$18.48M -$34.26M
YoY Change -46.05% -424.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $98.20M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $37.00K $100.7M
YoY Change -99.96% 62034.57%
NET CHANGE
Cash From Operating Activities -$57.70M -$29.04M
Cash From Investing Activities -$18.48M -$34.26M
Cash From Financing Activities $37.00K $100.7M
Net Change In Cash -$76.14M $37.37M
YoY Change -303.78% -211.82%
FREE CASH FLOW
Cash From Operating Activities -$57.70M -$29.04M
Capital Expenditures $1.415M $626.0K
Free Cash Flow -$59.11M -$29.66M
YoY Change 99.28% -34.66%

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AvailableForSaleSecuritiesDebtSecurities
136658000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
120208000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
61000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
120147000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 USD
CY2022Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
3724000 USD
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
3929000 USD
CY2022Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
874000 USD
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
459000 USD
CY2022Q1 us-gaap Inventory Net
InventoryNet
4598000 USD
CY2021Q4 us-gaap Inventory Net
InventoryNet
4388000 USD
CY2022Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2000000 USD
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2000000 USD
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5274000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5286000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M12D
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8373921 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
21.47
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y7M6D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
2349197 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
10.21
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
25646 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.44
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
157197 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
16.51
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
33695 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
21.16
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10506580 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
19.08
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M6D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
904000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5853827 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
22.61
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y6M
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
898000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
9693151 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
19.41
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
903000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.48
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
14.23
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
300000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1400000 USD
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2500000 USD
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
5400000 USD
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
4100000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
38400000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y7M6D

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