$MMATQ
META MATERIALS INC.

2021 Q3 Form 10-Q Financial Statement

#000095017021004631 Filed on November 15, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q4
Revenue $572.6K $1.221M $1.560K
YoY Change 188.94% 2583.86% -98.8%
Cost Of Revenue $145.1K $1.110K $16.82K
YoY Change 15419.04% -98.62% -81.31%
Gross Profit $427.5K $1.220M -$15.26K
YoY Change 116.75% -3616.46% -150.87%
Gross Profit Margin 74.66% 99.91% -978.21%
Selling, General & Admin $10.20M $7.136M $1.282M
YoY Change 514.86% 1075.92% 78.04%
% of Gross Profit 2386.82% 585.12%
Research & Development $1.817M $3.413M
YoY Change 74.01%
% of Gross Profit 424.91% 279.86%
Depreciation & Amortization $379.8K $1.173M $18.12K
YoY Change 1.9% 322.43% -99.55%
% of Gross Profit 88.85% 96.22%
Operating Expenses $12.02M $10.55M $1.300M
YoY Change 344.63% 1092.45% -72.69%
Operating Profit -$11.59M -$9.329M -$1.315M
YoY Change 362.57% 914.81% -72.19%
Interest Expense $215.1K -$1.209M -$313.6K
YoY Change -42.91% 345.08% 16.13%
% of Operating Profit
Other Income/Expense, Net $83.99K $933.9K -$100.00
YoY Change -177.55%
Pretax Income -$11.51M -$50.14M -$4.904M
YoY Change 340.19% 1419.87% -18.54%
Income Tax -$83.66K -$102.5K
% Of Pretax Income
Net Earnings -$11.43M -$5.883M -$4.904M
YoY Change 342.63% 223.84% -18.54%
Net Earnings / Revenue -1995.29% -481.99% -314348.08%
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share -$0.04 -$201.7K -$98.96K
COMMON SHARES
Basic Shares Outstanding 280.1M
Diluted Shares Outstanding 280.1M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $140.8M $154.6M $131.3K
YoY Change 54303.42% 54816.69% 31.33%
Cash & Equivalents $140.8M $1.396M
Short-Term Investments
Other Short-Term Assets $77.40M $74.89M $134.5K
YoY Change 5416.46% 7763.24% 34.47%
Inventory $359.0K $368.3K $463.4K
Prepaid Expenses $227.4K
Receivables $96.85K $207.8K $22.83K
Other Receivables $285.1K $407.5K $1.034M
Total Short-Term Assets $218.9M $230.5M $2.724M
YoY Change 8640.39% 15291.44% 289.14%
LONG-TERM ASSETS
Property, Plant & Equipment $7.526M $8.377M $2.761M
YoY Change -77.51% -74.42% -93.13%
Goodwill $218.8M
YoY Change
Intangibles $4.643M $4.477M
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $235.8M $230.4M $7.508M
YoY Change 604.47% 603.47% -81.32%
TOTAL ASSETS
Total Short-Term Assets $218.9M $230.5M $2.724M
Total Long-Term Assets $235.8M $230.4M $7.508M
Total Assets $454.7M $460.9M $10.23M
YoY Change 1164.02% 1245.8% -74.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.557M $5.377M $2.940M
YoY Change 700.12% 697.06% 110.03%
Accrued Expenses $330.9K $279.8K $1.717M
YoY Change -79.73% -80.61% 329.25%
Deferred Revenue $1.187M $1.240M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Long-Term Debt Due $532.3K $1.349M $290.5K
YoY Change -96.49% -90.0% -85.47%
Total Short-Term Liabilities $87.38M $87.25M $12.40M
YoY Change 378.44% 437.06% -3.91%
LONG-TERM LIABILITIES
Long-Term Debt $2.699M $3.599M $2.744M
YoY Change -76.95%
Other Long-Term Liabilities $3.100M $1.903M $382.4K
YoY Change 12950.74% 7965.59% -65.24%
Total Long-Term Liabilities $2.699M $5.503M $2.744M
YoY Change -78.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $87.38M $87.25M $12.40M
Total Long-Term Liabilities $2.699M $5.503M $2.744M
Total Liabilities $94.18M $92.98M $19.13M
YoY Change 364.84% 409.8% -26.14%
SHAREHOLDERS EQUITY
Retained Earnings -$98.86M -$37.40M
YoY Change
Common Stock $459.4M $455.0M $29.16M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $360.5M $367.9M -$8.897M
YoY Change
Total Liabilities & Shareholders Equity $454.7M $460.9M $10.23M
YoY Change 1164.02% 1245.8% -74.98%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q4
OPERATING ACTIVITIES
Net Income -$11.43M -$5.883M -$4.904M
YoY Change 342.63% 223.84% -18.54%
Depreciation, Depletion And Amortization $379.8K $1.173M $18.12K
YoY Change 1.9% 322.43% -99.55%
Cash From Operating Activities -$9.976M -$2.071M -$40.96K
YoY Change 2830.11% 222.36% -202.4%
INVESTING ACTIVITIES
Capital Expenditures -$3.076M -$2.735M -$570.7K
YoY Change 395.11% -0.03% -126.18%
Acquisitions
YoY Change
Other Investing Activities $0.00 $157.1M $337.2K
YoY Change
Cash From Investing Activities -$3.076M $154.3M -$233.5K
YoY Change 395.12% -5739.91% -89.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -623.7K -11.76M -353.0K
YoY Change -143.34% -428.83% -124.01%
NET CHANGE
Cash From Operating Activities -9.976M -2.071M -40.96K
Cash From Investing Activities -3.076M 154.3M -233.5K
Cash From Financing Activities -623.7K -11.76M -353.0K
Net Change In Cash -13.68M 140.5M -627.5K
YoY Change -2965.74% 70527.76% -6.35%
FREE CASH FLOW
Cash From Operating Activities -$9.976M -$2.071M -$40.96K
Capital Expenditures -$3.076M -$2.735M -$570.7K
Free Cash Flow -$6.900M $664.3K $529.7K
YoY Change -2557.21% -68.27% -124.75%

Facts In Submission

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185606
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-103831
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
129407
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
73436
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-25583
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1342530
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
73946
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
598307
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-118626
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-258128
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-1302225
mmat Increase Decrease In Due From To Related Parties Current
IncreaseDecreaseInDueFromToRelatedPartiesCurrent
24889
mmat Increase Decrease In Due From To Related Parties Current
IncreaseDecreaseInDueFromToRelatedPartiesCurrent
9349
mmat Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-408430
mmat Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
18382
us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
1764867
us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
1556324
mmat Gain Loss On Unsecured Convertible Debentures
GainLossOnUnsecuredConvertibleDebentures
478469
CY2020Q3 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-118455
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-40540091
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
1167310
CY2020Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P10Y
CY2021Q1 us-gaap Land Subject To Ground Leases
LandSubjectToGroundLeases
53000
CY2021Q3 mmat Operating Lease And Right Of Use Asset
OperatingLeaseAndRightOfUseAsset
1021499
CY2020Q3 mmat Gain Loss On Unsecured Convertible Debentures
GainLossOnUnsecuredConvertibleDebentures
-29808
mmat Gain Loss On Unsecured Convertible Debentures
GainLossOnUnsecuredConvertibleDebentures
-4076448
CY2021Q3 us-gaap Contractual Obligation
ContractualObligation
868169
CY2020Q4 us-gaap Contractual Obligation
ContractualObligation
776884
CY2021Q3 mmat Operating Lease Liabilities
OperatingLeaseLiabilities
2753990
CY2020Q4 mmat Operating Lease Liabilities
OperatingLeaseLiabilities
270581
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
3230861
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
3034048
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
572612
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
198175
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1793235
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
848858
CY2021Q3 us-gaap Deferred Revenue
DeferredRevenue
1824444
CY2020Q4 us-gaap Deferred Revenue
DeferredRevenue
2044070
CY2021Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
1186885
CY2020Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
1239927
CY2021Q3 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
637559
CY2020Q4 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
804143
mmat Loss On Secured Convertible Promissory Notes
LossOnSecuredConvertiblePromissoryNotes
-5235
CY2020Q3 mmat Loss Gain On Secured Convertible Debentures
LossGainOnSecuredConvertibleDebentures
-96931
mmat Loss Gain On Secured Convertible Debentures
LossGainOnSecuredConvertibleDebentures
-16957029
mmat Loss Gain On Secured Convertible Debentures
LossGainOnSecuredConvertibleDebentures
685792
CY2021Q3 us-gaap Area Of Land
AreaOfLand
5475
CY2021Q3 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2024-09-01
CY2021Q3 mmat Lease Extended Expiry Date
LeaseExtendedExpiryDate
2026-09-30
CY2021Q3 mmat Additional Land Subject To Ground Leases
AdditionalLandSubjectToGroundLeases
8904
CY2021Q3 us-gaap Land Subject To Ground Leases
LandSubjectToGroundLeases
19506
CY2021Q3 mmat Lease Commencement Date
LeaseCommencementDate
2021-10-01
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
196547
CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
69455
us-gaap Operating Lease Expense
OperatingLeaseExpense
515084
us-gaap Operating Lease Expense
OperatingLeaseExpense
207808
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
170660
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
766674
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
760951
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
741064
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
764748
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
1935263
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
5139360
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2385370
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2753990
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
330867
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2423123

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