2023 Q1 Form 10-K Financial Statement

#000155837023003305 Filed on March 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $10.38M $7.162M $25.48M
YoY Change -26.83% 371.18% 66.03%
Cost Of Revenue $206.0K $292.0K $1.509M
YoY Change -82.38% 2.1%
Gross Profit $10.17M $6.870M $23.97M
YoY Change -21.84% 72.85%
Gross Profit Margin 98.02% 95.92% 94.08%
Selling, General & Admin $15.20M $14.66M $56.85M
YoY Change 29.54% 38.0% 52.49%
% of Gross Profit 149.44% 213.36% 237.16%
Research & Development $27.93M $21.42M $79.91M
YoY Change 55.26% 18.93% 8.69%
% of Gross Profit 274.55% 311.85% 333.4%
Depreciation & Amortization $157.0K $82.00K $418.0K
YoY Change 84.71% -11.83% 17.75%
% of Gross Profit 1.54% 1.19% 1.74%
Operating Expenses $43.14M $36.08M $136.8M
YoY Change 139.77% 26.0% 86.01%
Operating Profit -$32.96M -$29.21M -$112.8M
YoY Change 97.25% 16.36%
Interest Expense $4.147M -$1.946M $10.67M
YoY Change 145.09% 27.19% 313.32%
% of Operating Profit
Other Income/Expense, Net $37.00K -$717.0K -$2.696M
YoY Change -103.81% -232.53% -510.35%
Pretax Income -$34.73M -$32.67M -$16.43M
YoY Change 79.38% 15.44% -83.37%
Income Tax $1.637M $3.389M
% Of Pretax Income
Net Earnings -$34.70M -$33.98M -$19.80M
YoY Change 79.23% 20.04% -79.95%
Net Earnings / Revenue -334.3% -474.39% -77.71%
Basic Earnings Per Share -$0.67 -$0.51
Diluted Earnings Per Share -$0.67 -$0.75 -$0.51
COMMON SHARES
Basic Shares Outstanding 49.67M 37.20M 39.07M
Diluted Shares Outstanding 51.77M 39.07M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $199.2M $240.6M $240.6M
YoY Change 57.7% 95.69% 95.69%
Cash & Equivalents $146.9M $240.6M $240.6M
Short-Term Investments $52.30M
Other Short-Term Assets $9.064M $5.402M $5.402M
YoY Change 44.72% -2.93% -2.93%
Inventory $37.00K $77.00K $77.00K
Prepaid Expenses
Receivables $11.69M $6.348M $6.348M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $220.0M $252.4M $252.4M
YoY Change 62.87% 91.66% 91.66%
LONG-TERM ASSETS
Property, Plant & Equipment $4.037M $4.236M $5.536M
YoY Change 35.06% 69.51% 31.84%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.785M $2.904M $1.604M
YoY Change 1.27% 9.05% 66.56%
Total Long-Term Assets $6.822M $7.140M $7.140M
YoY Change 18.87% 38.32% 38.32%
TOTAL ASSETS
Total Short-Term Assets $220.0M $252.4M $252.4M
Total Long-Term Assets $6.822M $7.140M $7.140M
Total Assets $226.8M $259.5M $259.5M
YoY Change 61.08% 89.65% 89.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.466M $4.461M $4.461M
YoY Change -4.39% 42.71% 42.71%
Accrued Expenses $15.73M $19.54M $19.54M
YoY Change 5.8% 20.54% 20.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.51M $25.02M $25.02M
YoY Change 10.12% -38.33% -38.33%
LONG-TERM LIABILITIES
Long-Term Debt $71.50M $71.02M $71.02M
YoY Change 2.25% 74.03% 74.03%
Other Long-Term Liabilities $48.72M $47.48M $47.48M
YoY Change 345.26% 2299.34% 2299.34%
Total Long-Term Liabilities $120.2M $118.5M $118.5M
YoY Change 48.66% 176.95% 176.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.51M $25.02M $25.02M
Total Long-Term Liabilities $120.2M $118.5M $118.5M
Total Liabilities $141.7M $143.5M $143.5M
YoY Change 41.16% 72.18% 72.18%
SHAREHOLDERS EQUITY
Retained Earnings -$465.3M -$430.5M
YoY Change 8.18% 4.82%
Common Stock $50.00K $50.00K
YoY Change 35.14% 35.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $85.09M $116.0M $116.0M
YoY Change
Total Liabilities & Shareholders Equity $226.8M $259.5M $259.5M
YoY Change 61.08% 89.65% 89.65%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$34.70M -$33.98M -$19.80M
YoY Change 79.23% 20.04% -79.95%
Depreciation, Depletion And Amortization $157.0K $82.00K $418.0K
YoY Change 84.71% -11.83% 17.75%
Cash From Operating Activities -$41.48M -$21.91M -$112.9M
YoY Change 49.98% 0.75% 103.48%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $92.00K $1.774M
YoY Change -100.0% -112.76% -161.41%
Acquisitions
YoY Change
Other Investing Activities -$52.00M $171.0K $107.5M
YoY Change 7196.2%
Cash From Investing Activities -$52.00M $79.00K $105.8M
YoY Change 60359.3% -110.96% -7575.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -174.0K 94.14M 124.7M
YoY Change -100.56% 31595.96% 201.96%
NET CHANGE
Cash From Operating Activities -41.48M -21.91M -112.9M
Cash From Investing Activities -52.00M 79.00K 105.8M
Cash From Financing Activities -174.0K 94.14M 124.7M
Net Change In Cash -93.65M 72.30M 117.6M
YoY Change -2860.82% -426.07% -854.87%
FREE CASH FLOW
Cash From Operating Activities -$41.48M -$21.91M -$112.9M
Capital Expenditures $0.00 $92.00K $1.774M
Free Cash Flow -$41.48M -$22.01M -$114.7M
YoY Change 50.45% 4.65% 118.03%

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