2023 Q4 Form 10-K Financial Statement

#000121465924005647 Filed on April 01, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022
Revenue $379.0K $496.0K
YoY Change
Cost Of Revenue $15.00K $1.029M
YoY Change
Gross Profit $364.0K -$533.0K
YoY Change
Gross Profit Margin 96.04% -107.46%
Selling, General & Admin $6.160M $35.49M $59.13M
YoY Change -24.48% -39.98% -55.18%
% of Gross Profit 1692.31%
Research & Development $620.0K $11.31M $9.648M
YoY Change -91.28% 17.23% 482.83%
% of Gross Profit 170.33%
Depreciation & Amortization $219.0K $689.0K $348.0K
YoY Change 41.29% 97.99% 290.79%
% of Gross Profit 60.16%
Operating Expenses $6.780M $46.87M $68.80M
YoY Change -55.6% -31.88% -48.53%
Operating Profit -$6.416M -$47.40M -$68.80M
YoY Change -31.1% -48.53%
Interest Expense $4.258M $73.00K -$3.884M
YoY Change -286.18% -101.88%
% of Operating Profit
Other Income/Expense, Net -$36.00K $7.223M -$1.881M
YoY Change -3700.0% -484.0% 3353.91%
Pretax Income -$2.206M -$40.18M -$70.68M
YoY Change -87.43% -43.16% -47.15%
Income Tax
% Of Pretax Income
Net Earnings -$2.206M -$40.18M -$70.68M
YoY Change -87.43% -43.16% -47.15%
Net Earnings / Revenue -582.06% -8100.4%
Basic Earnings Per Share -$72.16 $8.88
Diluted Earnings Per Share -$1.44 -$72.16 -$8.88
COMMON SHARES
Basic Shares Outstanding 556.8K shares 7.961M shares
Diluted Shares Outstanding 556.8K shares 53.07K shares

Balance Sheet

Concept 2023 Q4 2023 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.846M $2.701M
YoY Change 5.37% -14.15%
Cash & Equivalents $2.846M $2.701M
Short-Term Investments
Other Short-Term Assets $999.0K $966.0K
YoY Change 3.42% 232.79%
Inventory
Prepaid Expenses
Receivables $250.0K
Other Receivables $0.00
Total Short-Term Assets $4.095M $3.667M
YoY Change 11.67% 6.7%
LONG-TERM ASSETS
Property, Plant & Equipment $3.865M $3.239M
YoY Change 58.34% 230.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.000M $122.0K
YoY Change 2359.02% -34.55%
Other Assets $772.0K $120.0K
YoY Change 532.79% -36.84%
Total Long-Term Assets $9.164M $3.371M
YoY Change 171.85% 186.29%
TOTAL ASSETS
Total Short-Term Assets $4.095M $3.667M
Total Long-Term Assets $9.164M $3.371M
Total Assets $13.26M $7.038M
YoY Change 88.39% 52.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.371M $1.523M
YoY Change 121.34% 2211.08%
Accrued Expenses $864.0K $2.040M
YoY Change -48.75% 813.12%
Deferred Revenue $0.00
YoY Change -100.0%
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $157.0K
YoY Change
Total Short-Term Liabilities $5.609M $4.243M
YoY Change 32.19% 498.41%
LONG-TERM LIABILITIES
Long-Term Debt $65.00K $10.91M
YoY Change -99.4%
Other Long-Term Liabilities $233.0K $932.0K
YoY Change -75.0% 799.35%
Total Long-Term Liabilities $233.0K $11.84M
YoY Change -98.03% 11328.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.609M $4.243M
Total Long-Term Liabilities $233.0K $11.84M
Total Liabilities $6.595M $16.09M
YoY Change -59.0% 1879.4%
SHAREHOLDERS EQUITY
Retained Earnings -$259.6M
YoY Change 18.76%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.664M -$9.048M
YoY Change
Total Liabilities & Shareholders Equity $13.26M $7.038M
YoY Change 88.39% 52.53%

Cashflow Statement

Concept 2023 Q4 2023 2022
OPERATING ACTIVITIES
Net Income -$2.206M -$40.18M -$70.68M
YoY Change -87.43% -43.16% -47.15%
Depreciation, Depletion And Amortization $219.0K $689.0K $348.0K
YoY Change 41.29% 97.99% 290.79%
Cash From Operating Activities -$4.291M -$27.99M -$23.45M
YoY Change -43.61% 19.36% 110.36%
INVESTING ACTIVITIES
Capital Expenditures $659.0K $2.217M $1.787M
YoY Change 67.68% 24.06% -273.44%
Acquisitions
YoY Change
Other Investing Activities $79.00K $559.0K $230.0K
YoY Change 143.04% -669.31%
Cash From Investing Activities -$580.0K -$1.670M -$1.557M
YoY Change 47.58% 7.26% 45.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $15.30M
YoY Change 2.53%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.686M $29.81M $24.56M
YoY Change -38.79% 21.35% 60.31%
NET CHANGE
Cash From Operating Activities -4.291M -$27.99M -$23.45M
Cash From Investing Activities -580.0K -$1.670M -$1.557M
Cash From Financing Activities 5.686M $29.81M $24.56M
Net Change In Cash 815.0K $145.0K -$445.0K
YoY Change -36.67% -132.58% -114.34%
FREE CASH FLOW
Cash From Operating Activities -$4.291M -$27.99M -$23.45M
Capital Expenditures $659.0K $2.217M $1.787M
Free Cash Flow -$4.950M -$30.21M -$25.24M
YoY Change -38.14% 19.7% 149.44%

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6000 usd
CY2022 us-gaap Interest Paid Net
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CapitalExpendituresIncurredButNotYetPaid
232000 usd
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490000 usd
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CY2023 NXU Sale Value Of Inventory
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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3865000 usd
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2441000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
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CY2023 us-gaap Depreciation
Depreciation
600000 usd
CY2022 us-gaap Depreciation
Depreciation
300000 usd
CY2023 us-gaap Capitalized Computer Software Period Increase Decrease
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900000 usd
CY2023Q4 us-gaap Value Added Tax Receivable Current
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372000 usd
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302000 usd
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CY2022Q4 us-gaap Other Prepaid Expense Current
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999000 usd
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CY2022Q4 us-gaap Security Deposit
SecurityDeposit
101000 usd
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OtherAssetsNoncurrent
122000 usd
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AccountsPayableCurrentAndNoncurrent
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AccountsPayableCurrentAndNoncurrent
1523000 usd
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OtherAccruedLiabilitiesCurrent
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OtherAccruedLiabilitiesCurrent
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3371000 usd
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3219000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
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60537000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
51919000 usd
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DeferredTaxAssetsValuationAllowance
51919000 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
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54300000 usd
CY2022 NXU Operating Loss Carryforwards Expiration Date1
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0.21 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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53074 shares
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CY2023 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
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CY2023 NXU Weightedaverage Asconverted Convertible Notes
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200000 shares
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P1Y8M12D
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P2Y6M
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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OperatingLeaseWeightedAverageDiscountRatePercent
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CY2023 us-gaap Operating Lease Expense
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CY2022 us-gaap Operating Lease Expense
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335000 usd
CY2023 us-gaap Amortization Of Leased Asset
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66000 usd
CY2022 us-gaap Amortization Of Leased Asset
AmortizationOfLeasedAsset
23000 usd
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
6000 usd
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
7000 usd
CY2023 NXU Total Lease Expense
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726000 usd
CY2022 NXU Total Lease Expense
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365000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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968000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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40000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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716000 usd
CY2023Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1684000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
40000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
132000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1552000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
40000 usd
CY2023 us-gaap Debt Instrument Term
DebtInstrumentTerm
P5Y
CY2023Q4 us-gaap Liabilities Subject To Compromise Early Contract Termination Fees
LiabilitiesSubjectToCompromiseEarlyContractTerminationFees
700000 usd
CY2023 NXU Legal Liability Payment Term
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P21M
CY2023 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
20200000 usd
CY2022 us-gaap Stock Issued During Period Value Share Based Compensation Gross
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42346000 usd
CY2023 NXU Stockbased Compensation Capitalized To Property And Equipment
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CY2023 us-gaap Share Based Compensation
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19710000 usd
CY2022 us-gaap Share Based Compensation
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CY2023 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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500000 usd
CY2022 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0 usd
CY2022 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
800000 usd
CY2023 NXU Unrecognized Stockbased Compensation Related To Outstanding Awards
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12487000 usd
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P7Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.7533 pure
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0.0165 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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-0 pure
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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350000000 shares
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
250000000 shares
CY2023Q4 NXU Common Stock Relating To Portion Of Outstanding Stock Options And Restricted Stock
CommonStockRelatingToPortionOfOutstandingStockOptionsAndRestrictedStock
100000000 shares
CY2022Q4 us-gaap Convertible Debt
ConvertibleDebt
10911000 usd
CY2023 NXU Convertible Debt Issued During Period
ConvertibleDebtIssuedDuringPeriod
7330000 usd
CY2022 NXU Convertible Debt Issued During Period
ConvertibleDebtIssuedDuringPeriod
7034000 usd
CY2023 us-gaap Conversion Of Stock Amount Issued1
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17623000 usd
CY2023 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
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CY2023 NXU Change In Fair Value Measurement Of Convertible Debt
ChangeInFairValueMeasurementOfConvertibleDebt
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CY2022 NXU Change In Fair Value Measurement Of Convertible Debt
ChangeInFairValueMeasurementOfConvertibleDebt
3877000 usd
CY2023Q4 us-gaap Convertible Debt
ConvertibleDebt
10000 usd
CY2022Q4 us-gaap Convertible Debt
ConvertibleDebt
10911000 usd
CY2022Q4 us-gaap Warrants And Rights Outstanding
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CY2023 us-gaap Proceeds From Issuance Of Warrants
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CY2022 us-gaap Proceeds From Issuance Of Warrants
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CY2023 NXU Liability Warrants Exercised During Period
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CY2022 NXU Change In Fair Value Measurement
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CY2022Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
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CY2023Q4 us-gaap Long Term Debt Fair Value
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65000 usd
CY2022Q4 us-gaap Long Term Debt Fair Value
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11285000 usd
CY2023Q4 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
10000 usd
CY2022Q4 us-gaap Convertible Debt Fair Value Disclosures
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CY2023Q4 NXU Convertible Notes Contractual Principal Outstanding
ConvertibleNotesContractualPrincipalOutstanding
10000 usd
CY2022Q4 NXU Convertible Notes Contractual Principal Outstanding
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10000000 usd
CY2022Q4 NXU Fair Value Less Unpaid Principal Balance
FairValueLessUnpaidPrincipalBalance
911000 usd

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R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable