2022 Q4 Form 10-Q Financial Statement

#000112534522000104 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $73.10M $41.73M
YoY Change 416.71% 166.47%
Cost Of Revenue $1.791M $3.007M
YoY Change 89.12% 80.6%
Gross Profit $71.31M $38.73M
YoY Change 440.21% 176.68%
Gross Profit Margin 97.55% 92.79%
Selling, General & Admin $13.67M $15.36M
YoY Change -12.26% -10.52%
% of Gross Profit 19.17% 39.65%
Research & Development $45.65M $48.19M
YoY Change -18.26% -3.28%
% of Gross Profit 64.02% 124.44%
Depreciation & Amortization $3.231M $2.844M
YoY Change 9.45% 1.72%
% of Gross Profit 4.53% 7.34%
Operating Expenses $59.33M $48.19M
YoY Change -16.95% -3.28%
Operating Profit $11.98M -$24.96M
YoY Change -120.58% -52.9%
Interest Expense $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $819.0K $142.0K
YoY Change 282.71% 40.59%
Pretax Income $12.80M -$24.81M
YoY Change -122.06% -53.08%
Income Tax
% Of Pretax Income
Net Earnings $12.80M -$24.81M
YoY Change -122.06% -53.08%
Net Earnings / Revenue 17.51% -59.46%
Basic Earnings Per Share -$0.40
Diluted Earnings Per Share $0.21 -$0.40
COMMON SHARES
Basic Shares Outstanding 61.48M shares 61.46M shares
Diluted Shares Outstanding 61.46M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $154.3M $123.6M
YoY Change -36.64% -58.64%
Cash & Equivalents $108.9M $83.99M
Short-Term Investments $45.46M $39.62M
Other Short-Term Assets $10.16M $9.273M
YoY Change -52.0% -48.66%
Inventory $1.451M $1.086M
Prepaid Expenses $10.16M
Receivables $56.22M $13.84M
Other Receivables $0.00 $0.00
Total Short-Term Assets $222.2M $147.8M
YoY Change -20.53% -55.84%
LONG-TERM ASSETS
Property, Plant & Equipment $29.58M $31.99M
YoY Change -21.5% -17.3%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.378M $15.54M
YoY Change -92.35% -17.23%
Total Long-Term Assets $58.29M $47.54M
YoY Change 4.67% -17.28%
TOTAL ASSETS
Total Short-Term Assets $222.2M $147.8M
Total Long-Term Assets $58.29M $47.54M
Total Assets $280.5M $195.3M
YoY Change -16.34% -50.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.899M $4.619M
YoY Change -68.39% -25.14%
Accrued Expenses $29.00M $33.32M
YoY Change -14.09% -20.4%
Deferred Revenue $9.988M $7.085M
YoY Change -51.62% -56.57%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $48.61M $50.05M
YoY Change -34.82% -27.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $258.0K $258.0K
YoY Change 0.0% 0.0%
Total Long-Term Liabilities $258.0K $258.0K
YoY Change 0.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $48.61M $50.05M
Total Long-Term Liabilities $258.0K $258.0K
Total Liabilities $138.5M $72.39M
YoY Change 44.79% -28.13%
SHAREHOLDERS EQUITY
Retained Earnings -$1.094B -$1.106B
YoY Change 12.3% 20.81%
Common Stock $1.236B $1.230B
YoY Change 1.82% 1.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $142.0M $123.0M
YoY Change
Total Liabilities & Shareholders Equity $280.5M $195.3M
YoY Change -16.34% -50.19%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income $12.80M -$24.81M
YoY Change -122.06% -53.08%
Depreciation, Depletion And Amortization $3.231M $2.844M
YoY Change 9.45% 1.72%
Cash From Operating Activities $29.32M -$9.422M
YoY Change -153.99% -36.32%
INVESTING ACTIVITIES
Capital Expenditures $393.0K -$804.0K
YoY Change -128.58% -62.31%
Acquisitions
YoY Change
Other Investing Activities -$5.395M $72.75M
YoY Change -55.7% -15130.99%
Cash From Investing Activities -$5.788M $71.95M
YoY Change -57.29% -2849.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.359M 0.000
YoY Change 69.88% -100.0%
NET CHANGE
Cash From Operating Activities 29.32M -9.422M
Cash From Investing Activities -5.788M 71.95M
Cash From Financing Activities 1.359M 0.000
Net Change In Cash 24.89M 62.52M
YoY Change -137.12% 3905.38%
FREE CASH FLOW
Cash From Operating Activities $29.32M -$9.422M
Capital Expenditures $393.0K -$804.0K
Free Cash Flow $28.93M -$8.618M
YoY Change -154.65% -31.94%

Facts In Submission

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IncreaseDecreaseInOtherOperatingAssets
-5146000 usd
us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-10897000 usd
us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-1931000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-184000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
7744000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-3447000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-2701000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-8477000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
14507000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
0 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
258000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-116279000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-89521000 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
75457000 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
164780000 usd
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
155190000 usd
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
146550000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3230000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4826000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
76503000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-23056000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
117818000 usd
mgnx Proceedsfrom Stock Options Exercised And Espp Purchases
ProceedsfromStockOptionsExercisedAndESPPPurchases
314000 usd
mgnx Proceedsfrom Stock Options Exercised And Espp Purchases
ProceedsfromStockOptionsExercisedAndESPPPurchases
5722000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
14000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1563000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
300000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
121977000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-39476000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
9400000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
123469000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
181131000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
83993000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
190531000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
295000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
69000 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2000000 usd
CY2022Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
39736000 usd
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
113000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
39623000 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
CY2022Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
4900000 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
CY2022Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2022Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
209000 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
3929000 usd
CY2022Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
877000 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
459000 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
1086000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
4388000 usd
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017Q2 mgnx Share Based Compensation Arrangement By Share Based Payment Award Offering Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOfferingPeriod
P6M
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5123000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6358000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15697000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17714000 usd
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.46
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M12D
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
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y7M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
2730597 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
9.40
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
82963 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
427074 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
16.05
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
267238 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
22.76
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10327243 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.63
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y8M12D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
124000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
6455853 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
21.77
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y6M
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
96000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
9622594 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
18.96
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y7M6D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
120000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.89
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
15.21
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
500000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3200000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
300000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5400000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
15100000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
14800000 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
28600000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y4M24D

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