2024 Q2 Form 10-Q Financial Statement

#000155837024007329 Filed on May 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $47.48M $41.23M $34.75M
YoY Change 38.03% 18.63% 36.06%
Cost Of Revenue $36.72M $35.22M $30.31M
YoY Change -3.02% 16.19% -3.89%
Gross Profit $10.76M $6.011M $4.443M
YoY Change -410.21% 35.29% -174.12%
Gross Profit Margin 22.66% 14.58% 12.78%
Selling, General & Admin $7.451M $6.527M $37.00M
YoY Change -76.61% -82.36% 182.11%
% of Gross Profit 69.26% 108.58% 832.79%
Research & Development $4.984M $3.871M $5.900M
YoY Change -14.83% -34.39% 240.06%
% of Gross Profit 46.33% 64.4% 132.79%
Depreciation & Amortization $7.652M $7.436M $7.263M
YoY Change -10.16% 2.38% 101.41%
% of Gross Profit 71.13% 123.71% 163.47%
Operating Expenses $12.59M $11.26M $43.81M
YoY Change -67.41% -74.3% 2425.24%
Operating Profit -$13.95M -$21.98M -$42.83M
YoY Change -67.57% -48.68% 77.66%
Interest Expense -$13.87M -$17.72M $2.651M
YoY Change 330.44% -768.24% 295.08%
% of Operating Profit
Other Income/Expense, Net -$1.424M -$958.0K $5.885M
YoY Change -38.03% -116.28% 163.78%
Pretax Income -$15.37M -$22.94M -$36.95M
YoY Change -66.08% -37.91% 68.87%
Income Tax -$2.376M -$2.557M -$536.0K
% Of Pretax Income
Net Earnings -$13.00M -$20.38M -$43.08M
YoY Change -39.91% -52.68% 122.88%
Net Earnings / Revenue -27.37% -49.44% -123.95%
Basic Earnings Per Share -$0.26 -$0.41 -$0.91
Diluted Earnings Per Share -$0.26 -$0.41 -$0.91
COMMON SHARES
Basic Shares Outstanding 49.44M 49.44M 47.43M
Diluted Shares Outstanding 49.72M 49.44M 47.43M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.63M $23.56M $192.4M
YoY Change -62.61% -87.75% 190.55%
Cash & Equivalents $40.70M $21.99M $190.8M
Short-Term Investments $1.945M $1.569M $1.591M
Other Short-Term Assets $4.052M $3.157M $5.076M
YoY Change -27.76% -37.81% -48.55%
Inventory $19.99M $19.87M $23.56M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $72.15M $52.02M $223.5M
YoY Change -50.21% -76.72% 134.5%
LONG-TERM ASSETS
Property, Plant & Equipment $167.8M $167.1M $342.5M
YoY Change -50.48% -51.2% -0.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $390.1M $402.6M $89.99M
YoY Change 339.43% 347.42% 0.17%
Other Assets $673.0K $672.0K $703.0K
YoY Change -11.1% -4.41% 13.39%
Total Long-Term Assets $573.0M $586.7M $454.2M
YoY Change 27.82% 29.17% 3.12%
TOTAL ASSETS
Total Short-Term Assets $72.15M $52.02M $223.5M
Total Long-Term Assets $573.0M $586.7M $454.2M
Total Assets $645.1M $638.7M $677.7M
YoY Change 8.76% -5.75% 26.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.78M $24.73M $46.16M
YoY Change -29.41% -46.42% 8.77%
Accrued Expenses $679.0K $894.0K $1.167M
YoY Change -36.54% -23.39% -53.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $6.000M $3.000M $16.00M
YoY Change -81.25%
Total Short-Term Liabilities $43.02M $37.91M $89.39M
YoY Change -18.68% -57.59% 51.24%
LONG-TERM LIABILITIES
Long-Term Debt $40.00M $40.00M $48.12M
YoY Change 0.0% -16.88% -24.28%
Other Long-Term Liabilities $4.293M $3.562M $4.507M
YoY Change 1.25% -20.97% 54.93%
Total Long-Term Liabilities $44.29M $43.56M $4.507M
YoY Change 0.12% 866.54% -93.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $43.02M $37.91M $89.39M
Total Long-Term Liabilities $44.29M $43.56M $4.507M
Total Liabilities $159.9M $156.2M $172.4M
YoY Change 21.99% -9.39% 10.23%
SHAREHOLDERS EQUITY
Retained Earnings -$1.299B -$1.286B -$1.364B
YoY Change -6.25% -5.72% 8.31%
Common Stock $1.785B $1.769B $1.754B
YoY Change 1.74% 0.85% 7.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $485.2M $482.5M $389.7M
YoY Change
Total Liabilities & Shareholders Equity $645.1M $638.7M $677.7M
YoY Change 8.76% -5.75% 26.49%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$13.00M -$20.38M -$43.08M
YoY Change -39.91% -52.68% 122.88%
Depreciation, Depletion And Amortization $7.652M $7.436M $7.263M
YoY Change -10.16% 2.38% 101.41%
Cash From Operating Activities $3.606M $3.881M -$28.61M
YoY Change -114.34% -113.57% 83.15%
INVESTING ACTIVITIES
Capital Expenditures $6.631M $4.575M $4.950M
YoY Change -78.51% -7.58% -222.37%
Acquisitions
YoY Change
Other Investing Activities $82.00K
YoY Change -72.2%
Cash From Investing Activities -$6.549M -$4.575M -$4.950M
YoY Change -78.58% -7.58% 22.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 20.18M -142.0K 185.0M
YoY Change -179.01% -100.08% 527.89%
NET CHANGE
Cash From Operating Activities 3.606M 3.881M -28.61M
Cash From Investing Activities -6.549M -4.575M -4.950M
Cash From Financing Activities 20.18M -142.0K 185.0M
Net Change In Cash 17.24M -1.092M 151.4M
YoY Change -121.21% -100.72% 1445.77%
FREE CASH FLOW
Cash From Operating Activities $3.606M $3.881M -$28.61M
Capital Expenditures $6.631M $4.575M $4.950M
Free Cash Flow -$3.025M -$694.0K -$33.56M
YoY Change -94.6% -97.93% 189.92%

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