2024 Q2 Form 10-Q Financial Statement

#000162828024022349 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $35.52M $26.61M
YoY Change 33.51% 651.21%
% of Gross Profit
Research & Development $2.409M $2.509M $464.0K
YoY Change 476.32% 440.73% -69.97%
% of Gross Profit
Depreciation & Amortization $620.0K $84.00K $38.00K
YoY Change 1531.58% 121.05% -19.15%
% of Gross Profit
Operating Expenses $39.53M $38.12M $27.11M
YoY Change 43.36% 40.6% 428.05%
Operating Profit -$39.53M -$38.12M -$27.11M
YoY Change 43.36% 40.6% 428.05%
Interest Expense $26.03M $25.48M $0.00
YoY Change -129.77%
% of Operating Profit
Other Income/Expense, Net $41.84M $224.9M -$237.0K
YoY Change -145.13% -94991.14% -96.24%
Pretax Income $186.8M -$27.35M
YoY Change -782.98% 139.11%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $2.304M $186.8M -$27.35M
YoY Change -101.92% -782.98% 139.11%
Net Earnings / Revenue
Basic Earnings Per Share -$0.13 $0.11 -$0.23
Diluted Earnings Per Share -$0.13 $0.11 -$0.23
COMMON SHARES
Basic Shares Outstanding 258.0M shares 256.7M shares 150.6M
Diluted Shares Outstanding 257.8M shares 266.9M shares 146.9M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $38.14M $45.75M $51.14M
YoY Change -4.67% -10.54% 128.74%
Cash & Equivalents $38.10M $45.80M $51.14M
Short-Term Investments
Other Short-Term Assets $2.103M $3.193M $468.0K
YoY Change 711.97% 582.26% 27.87%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $224.1M $283.9M $52.71M
YoY Change 320.05% 438.63% 125.39%
LONG-TERM ASSETS
Property, Plant & Equipment $3.734B $3.158B $243.9M
YoY Change 1301.43% 1195.05% 39.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.56M $17.05M $30.11M
YoY Change -51.49% -43.36% 32.86%
Total Long-Term Assets $4.533B $3.892B $275.2M
YoY Change 1413.84% 1314.26% 38.79%
TOTAL ASSETS
Total Short-Term Assets $224.1M $283.9M $52.71M
Total Long-Term Assets $4.533B $3.892B $275.2M
Total Assets $4.757B $4.176B $327.9M
YoY Change 1248.46% 1173.5% 47.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $131.8M $175.4M $1.854M
YoY Change 928.48% 9359.76% 259.3%
Accrued Expenses $364.9M $322.0M $29.61M
YoY Change 1736.76% 987.57% 809.59%
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 $499.6M $505.7M $34.89M
YoY Change 1002.58% 1349.19% 381.67%
LONG-TERM LIABILITIES
Long-Term Debt $2.834B $2.394B $0.00
YoY Change
Other Long-Term Liabilities $0.00 $5.297M $23.00M
YoY Change -100.0% -76.97% 0.0%
Total Long-Term Liabilities $2.834B $2.394B $23.00M
YoY Change 12220.91% 10307.52% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $499.6M $505.7M $34.89M
Total Long-Term Liabilities $2.834B $2.394B $23.00M
Total Liabilities $3.478B $3.045B $61.94M
YoY Change 2121.14% 4815.8% 63.59%
SHAREHOLDERS EQUITY
Retained Earnings -$396.0M -$363.4M -$257.5M
YoY Change 4.82% 41.14% 41.86%
Common Stock $15.00K
YoY Change 25.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $14.37M $14.31M $4.634M
YoY Change 208.5% 208.76% 160.48%
Treasury Stock Shares
Shareholders Equity $633.0M $520.1M $56.84M
YoY Change
Total Liabilities & Shareholders Equity $4.757B $4.176B $327.9M
YoY Change 1248.46% 1173.5% 47.92%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $2.304M $186.8M -$27.35M
YoY Change -101.92% -782.98% 139.11%
Depreciation, Depletion And Amortization $620.0K $84.00K $38.00K
YoY Change 1531.58% 121.05% -19.15%
Cash From Operating Activities $5.987M -$28.83M -$23.19M
YoY Change -133.23% 24.33% 127.44%
INVESTING ACTIVITIES
Capital Expenditures $593.6M $790.3M $21.53M
YoY Change 1695.22% 3571.18% 1538.36%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$593.6M -$796.4M -$23.40M
YoY Change 1695.22% 3302.83% 675.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 539.3M $782.1M $34.94M
YoY Change 1249.76% 2138.44% 248.81%
NET CHANGE
Cash From Operating Activities 5.987M -$28.83M -$23.19M
Cash From Investing Activities -593.6M -$796.4M -$23.40M
Cash From Financing Activities 539.3M $782.1M $34.94M
Net Change In Cash -48.32M -$43.08M -$11.65M
YoY Change 334.17% 269.85% 264.68%
FREE CASH FLOW
Cash From Operating Activities $5.987M -$28.83M -$23.19M
Capital Expenditures $593.6M $790.3M $21.53M
Free Cash Flow -$587.7M -$819.2M -$44.71M
YoY Change 1050.3% 1732.03% 288.54%

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CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3158242000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2437733000 usd
CY2024Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P30Y
CY2024Q1 next Lessee Operating Lease Number Of Consecutive Renewal Term
LesseeOperatingLeaseNumberOfConsecutiveRenewalTerm
2 renewal_period
CY2024Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P10Y
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
3000000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
300000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5568000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
7610000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9522000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
9565000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
9609000 usd
CY2024Q1 next Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
199241000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
241115000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
92676000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
148438000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P27Y7M6D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2143000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
290000 usd
CY2024Q1 next Business Acquisition Deferred Transaction Costs Current
BusinessAcquisitionDeferredTransactionCostsCurrent
270393000 usd
CY2023Q4 next Business Acquisition Deferred Transaction Costs Current
BusinessAcquisitionDeferredTransactionCostsCurrent
268821000 usd
CY2024Q1 us-gaap Interest Payable Current
InterestPayableCurrent
44716000 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
20392000 usd
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2944000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9270000 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3944000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
781000 usd
CY2024Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
321997000 usd
CY2023Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
299264000 usd
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2442881000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1850000000 usd
CY2024Q1 us-gaap Deferred Finance Costs Noncurrent Gross
DeferredFinanceCostsNoncurrentGross
49151000 usd
CY2023Q4 us-gaap Deferred Finance Costs Noncurrent Gross
DeferredFinanceCostsNoncurrentGross
33699000 usd
CY2024Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2393730000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1816301000 usd
CY2024Q1 next Long Term Debt Maturity Remainder Of Fiscal Year And Year One
LongTermDebtMaturityRemainderOfFiscalYearAndYearOne
0 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
26881000 usd
CY2024Q1 us-gaap Long Term Debt Maturing In Years Four And Five
LongTermDebtMaturingInYearsFourAndFive
0 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
2416000000 usd
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
2442881000 usd
CY2024Q1 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
36591000 usd
CY2023Q1 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
0 usd
CY2024Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
16388000 usd
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
0 usd
CY2024Q1 us-gaap Interest Expense Other
InterestExpenseOther
551000 usd
CY2023Q1 us-gaap Interest Expense Other
InterestExpenseOther
0 usd
CY2024Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
53530000 usd
CY2023Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
0 usd
CY2024Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
28051000 usd
CY2023Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
0 usd
CY2024Q1 us-gaap Interest Expense
InterestExpense
25479000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
0 usd
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
56055000 shares
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4439000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1559000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
1461000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2024Q1 next Accounts Payable Acquisition Of Property Plant And Equipment
AccountsPayableAcquisitionOfPropertyPlantAndEquipment
166893000 usd
CY2023Q1 next Accounts Payable Acquisition Of Property Plant And Equipment
AccountsPayableAcquisitionOfPropertyPlantAndEquipment
72000 usd
CY2024Q1 next Accrued Liabilities Acquisition Of Property Plant And Equipment
AccruedLiabilitiesAcquisitionOfPropertyPlantAndEquipment
270393000 usd
CY2023Q1 next Accrued Liabilities Acquisition Of Property Plant And Equipment
AccruedLiabilitiesAcquisitionOfPropertyPlantAndEquipment
15826000 usd
CY2024Q1 next Noncash Or Part Noncash Settlement Of Warrant Liabilities
NoncashOrPartNoncashSettlementOfWarrantLiabilities
4886000 usd
CY2023Q1 next Noncash Or Part Noncash Settlement Of Warrant Liabilities
NoncashOrPartNoncashSettlementOfWarrantLiabilities
0 usd
CY2024Q1 us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
1000000 usd
CY2023Q1 us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
0 usd
CY2024Q1 next Accrued Liabilities Acquisition Of Other Noncurrent Assets
AccruedLiabilitiesAcquisitionOfOtherNoncurrentAssets
0 usd
CY2023Q1 next Accrued Liabilities Acquisition Of Other Noncurrent Assets
AccruedLiabilitiesAcquisitionOfOtherNoncurrentAssets
140000 usd
CY2024Q1 us-gaap Dividends Preferred Stock Paidinkind
DividendsPreferredStockPaidinkind
0 usd
CY2023Q1 us-gaap Dividends Preferred Stock Paidinkind
DividendsPreferredStockPaidinkind
6686000 usd
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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