2023 Q4 Form 10-Q Financial Statement
#000143774923031957 Filed on November 14, 2023
Income Statement
Concept | 2023 Q4 | 2023 Q3 | 2022 Q4 |
---|---|---|---|
Revenue | $1.299M | $19.52M | $5.846M |
YoY Change | -77.78% | 263.5% | -30.76% |
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $2.327M | $6.840M | $3.985M |
YoY Change | -41.61% | 73.21% | -2.45% |
% of Gross Profit | |||
Research & Development | $4.454M | $9.595M | $13.38M |
YoY Change | -66.71% | -29.39% | -12.87% |
% of Gross Profit | |||
Depreciation & Amortization | -$196.0K | $740.0K | $575.0K |
YoY Change | -134.09% | -3.52% | -5.58% |
% of Gross Profit | |||
Operating Expenses | $6.781M | $31.33M | $17.37M |
YoY Change | -60.95% | 78.62% | -10.68% |
Operating Profit | -$11.81M | ||
YoY Change | -2.97% | ||
Interest Expense | $455.0K | $549.0K | $351.0K |
YoY Change | 29.63% | 127.8% | -5950.0% |
% of Operating Profit | |||
Other Income/Expense, Net | -$538.0K | $506.0K | -$325.0K |
YoY Change | 65.54% | -30.01% | -185.98% |
Pretax Income | -$4.584M | -$10.75M | -$8.102M |
YoY Change | -43.42% | 10.41% | -15.0% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$4.584M | -$10.80M | -$8.102M |
YoY Change | -43.42% | 11.34% | -15.0% |
Net Earnings / Revenue | -352.89% | -55.33% | -138.59% |
Basic Earnings Per Share | -$0.11 | ||
Diluted Earnings Per Share | -$3.71 | -$0.11 | -$0.11 |
COMMON SHARES | |||
Basic Shares Outstanding | 98.85M | 98.85M | 74.41M |
Diluted Shares Outstanding | 1.236M |
Balance Sheet
Concept | 2023 Q4 | 2023 Q3 | 2022 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $26.37M | $44.80M | $59.17M |
YoY Change | -55.44% | -35.84% | -49.76% |
Cash & Equivalents | $17.40M | $32.89M | $38.64M |
Short-Term Investments | $8.970M | $11.90M | $20.53M |
Other Short-Term Assets | $6.275M | $13.30M | $8.445M |
YoY Change | -25.7% | 68.18% | 28.97% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $572.0K | $1.045M | $5.810M |
Other Receivables | $5.467M | $0.00 | $0.00 |
Total Short-Term Assets | $38.68M | $59.09M | $73.42M |
YoY Change | -47.32% | -24.78% | -42.47% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $0.00 | $0.00 | $16.99M |
YoY Change | -100.0% | -100.0% | -11.14% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $0.00 | $287.0K | $1.369M |
YoY Change | -100.0% | -78.04% | -52.86% |
Total Long-Term Assets | $0.00 | $287.0K | $22.07M |
YoY Change | -100.0% | -98.61% | -14.92% |
TOTAL ASSETS | |||
Total Short-Term Assets | $38.68M | $59.09M | $73.42M |
Total Long-Term Assets | $0.00 | $287.0K | $22.07M |
Total Assets | $38.68M | $59.38M | $95.49M |
YoY Change | -59.49% | -40.12% | -37.82% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $3.372M | $2.816M | $4.154M |
YoY Change | -18.83% | -22.66% | -51.75% |
Accrued Expenses | $8.187M | $24.50M | $11.12M |
YoY Change | -26.39% | 115.25% | -25.02% |
Deferred Revenue | $0.00 | $994.0K | $20.82M |
YoY Change | -100.0% | -94.63% | -17.09% |
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $11.92M | $28.87M | $36.58M |
YoY Change | -67.41% | -13.89% | -27.65% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $0.00 | $0.00 | $30.98M |
YoY Change | -100.0% | -100.0% | |
Total Long-Term Liabilities | $0.00 | $0.00 | $30.98M |
YoY Change | -100.0% | -100.0% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $11.92M | $28.87M | $36.58M |
Total Long-Term Liabilities | $0.00 | $0.00 | $30.98M |
Total Liabilities | $11.92M | $28.87M | $67.56M |
YoY Change | -82.35% | -54.47% | -34.28% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$315.0M | -$310.4M | -$290.4M |
YoY Change | 8.47% | 9.95% | 12.93% |
Common Stock | $98.00K | $99.00K | $74.00K |
YoY Change | 32.43% | 33.78% | -99.98% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $26.76M | $30.51M | $27.93M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $38.68M | $59.38M | $95.49M |
YoY Change | -59.49% | -40.12% | -37.82% |
Cashflow Statement
Concept | 2023 Q4 | 2023 Q3 | 2022 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$4.584M | -$10.80M | -$8.102M |
YoY Change | -43.42% | 11.34% | -15.0% |
Depreciation, Depletion And Amortization | -$196.0K | $740.0K | $575.0K |
YoY Change | -134.09% | -3.52% | -5.58% |
Cash From Operating Activities | -$19.67M | -$9.720M | -$12.93M |
YoY Change | 52.08% | 10.73% | 18.17% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$9.000K | $60.00K | -$11.00K |
YoY Change | -18.18% | -276.47% | -96.78% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $3.433M | -$1.910M | $1.096M |
YoY Change | 213.23% | -134.7% | |
Cash From Investing Activities | $3.452M | -$1.990M | $1.107M |
YoY Change | 211.83% | -136.38% | -423.68% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 15.00K | 0.000 | 93.00K |
YoY Change | -83.87% | -100.0% | -98.1% |
NET CHANGE | |||
Cash From Operating Activities | -19.67M | -9.720M | -12.93M |
Cash From Investing Activities | 3.452M | -1.990M | 1.107M |
Cash From Financing Activities | 15.00K | 0.000 | 93.00K |
Net Change In Cash | -16.20M | -11.71M | -11.73M |
YoY Change | 38.09% | 286.98% | 83.76% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$19.67M | -$9.720M | -$12.93M |
Capital Expenditures | -$9.000K | $60.00K | -$11.00K |
Free Cash Flow | -$19.66M | -$9.780M | -$12.92M |
YoY Change | 52.14% | 11.85% | 21.88% |
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1628000 | usd | |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10752000 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9736000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-19959000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-25175000 | usd | |
CY2023Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-204000 | usd |
CY2022Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-31000 | usd |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-159000 | usd | |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-387000 | usd | |
CY2023Q3 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
2000 | usd |
CY2022Q3 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
-70000 | usd |
us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
74000 | usd | |
us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
82000 | usd | |
CY2023Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-10954000 | usd |
CY2022Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-9837000 | usd |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-20044000 | usd | |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-25480000 | usd | |
CY2023Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.11 | |
CY2022Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.13 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.23 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.34 | ||
CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
98852000 | |
CY2022Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
74397000 | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
87093000 | ||
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
74080000 | ||
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
44365000 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9736000 | usd |
CY2022Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-31000 | usd |
CY2022Q3 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-70000 | usd |
CY2022Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
974000 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
40498000 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10752000 | usd |
CY2023Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-204000 | usd |
CY2023Q3 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
2000 | usd |
CY2023Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
966000 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
30510000 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
50755000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-25175000 | usd | |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-387000 | usd | |
us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
82000 | usd | |
us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
3453000 | usd | |
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
95000 | usd | |
us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
104000 | usd | |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
27929000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-19959000 | usd | |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-159000 | usd | |
us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
74000 | usd | |
us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2898000 | usd | |
us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
52000 | usd | |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
30510000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-19959000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-25175000 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
2102000 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
2195000 | usd | |
pirs |
Operating Lease Right Of Use Asset Accretion
OperatingLeaseRightOfUseAssetAccretion
|
98000 | usd | |
pirs |
Operating Lease Right Of Use Asset Accretion
OperatingLeaseRightOfUseAssetAccretion
|
-0 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2898000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3453000 | usd | |
us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
14893000 | usd | |
us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
0 | usd | |
us-gaap |
Realized Investment Gains Losses
RealizedInvestmentGainsLosses
|
53000 | usd | |
us-gaap |
Realized Investment Gains Losses
RealizedInvestmentGainsLosses
|
299000 | usd | |
us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
129000 | usd | |
us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-216000 | usd | |
us-gaap |
Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
|
33804000 | usd | |
us-gaap |
Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
|
27389000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-34150000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-46999000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
184000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1052000 | usd | |
us-gaap |
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
|
24007000 | usd | |
us-gaap |
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
|
21900000 | usd | |
us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
15270000 | usd | |
us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
43191000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
8553000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-22343000 | usd | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
0 | usd | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
95000 | usd | |
us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
52000 | usd | |
us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
104000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
19729000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
6922000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
19781000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
7121000 | usd | |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
75000 | usd | |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-7120000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-5741000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-69341000 | usd | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
38635000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
117764000 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
32894000 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
48423000 | usd |
us-gaap |
Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
|
74000 | usd | |
us-gaap |
Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
|
82000 | usd | |
us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
0 | usd | |
us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
31000 | usd | |
CY2023Q3 | pirs |
Reduction In Workforce Percentage
ReductionInWorkforcePercentage
|
0.70 | pure |
CY2023Q3 | pirs |
Reduction In Workforce Cost
ReductionInWorkforceCost
|
6800000 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
44800000 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10800000 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9700000 | usd |
CY2023Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-310400000 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Basis of Presentation and Use of Estimates</b></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The accompanying condensed consolidated financial statements of Pieris Pharmaceuticals, Inc. and its wholly-owned subsidiaries were prepared in accordance with U.S. GAAP. The condensed consolidated financial statements include the accounts of all subsidiaries. All intercompany balances and transactions have been eliminated.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The preparation of the financial statements in accordance with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and the related disclosures at the date of the financial statements and during the reporting period. Significant estimates are used for, but are <em style="font: inherit;">not</em> limited to, revenue recognition; deferred tax assets, deferred tax liabilities and valuation allowances; determination of the incremental borrowing rate to calculate right-of-use assets and lease liabilities; beneficial conversion features; fair value of stock options, preferred stock, and warrants; fair value of assets held for sale; and prepaid and accrued clinical trial expenses. Management evaluates its estimates on an ongoing basis. Actual results and outcomes could differ materially from management’s estimates, judgments and assumptions.</p> | ||
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Concentration of Credit Risk and Off-Balance Sheet Risk</b></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Company has <em style="font: inherit;">no</em> financial instruments with off-balance sheet risk such as foreign exchange contracts, option contracts or other foreign hedging arrangements. Financial instruments that subject Pieris to concentrations of credit risk include cash and cash equivalents, investments, and accounts receivable. The Company’s cash, cash equivalents, and investments are held in accounts with financial institutions that management believes are creditworthy. The Company’s investment policy includes guidelines on the quality of the institutions and financial instruments and defines allowable investments that the Company believes minimize the exposure to concentration of credit risk. The Company has <em style="font: inherit;">not</em> experienced any credit losses in such accounts and does <em style="font: inherit;">not</em> believe it is exposed to any significant credit risk on these funds. Accounts receivable primarily consist of amounts due under strategic partnership and other license agreements with major multi-national pharmaceutical companies for which the Company does <em style="font: inherit;">not</em> obtain collateral.</p> | ||
CY2023Q3 | us-gaap |
Revenues
Revenues
|
19520000 | usd |
CY2022Q3 | us-gaap |
Revenues
Revenues
|
5370000 | usd |
us-gaap |
Revenues
Revenues
|
41511000 | usd | |
us-gaap |
Revenues
Revenues
|
20056000 | usd | |
CY2023Q3 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
0 | usd |
CY2023Q3 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
17100000 | usd |
us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
38700000 | usd | |
CY2021Q2 | us-gaap |
Grants Receivable
GrantsReceivable
|
17000000 | usd |
CY2023Q3 | pirs |
Cash Equivalents And Investments
CashEquivalentsAndInvestments
|
39569000 | usd |
CY2022Q4 | pirs |
Cash Equivalents And Investments
CashEquivalentsAndInvestments
|
38152000 | usd |
CY2023Q3 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
11915000 | usd |
CY2023Q3 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
1000 | usd |
CY2023Q3 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
0 | usd |
CY2023Q3 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
11916000 | usd |
CY2023Q3 | us-gaap |
Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
|
0 | usd |
us-gaap |
Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
|
-100000 | usd | |
CY2022Q3 | us-gaap |
Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
|
200000 | usd |
us-gaap |
Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
|
300000 | usd | |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
26639000 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
9647000 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
16992000 | usd |
CY2023Q3 | pirs |
Longlived Assets Heldforsale Net Book Value
LonglivedAssetsHeldforsaleNetBookValue
|
2098000 | usd |
CY2023Q3 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
14900000 | usd |
CY2023Q3 | pirs |
Longlived Assets Heldforsale Net Book Value
LonglivedAssetsHeldforsaleNetBookValue
|
2100000 | usd |
CY2023Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
8735000 | usd |
CY2022Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
3015000 | usd |
CY2023Q3 | pirs |
Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
|
1971000 | usd |
CY2022Q4 | pirs |
Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
|
5758000 | usd |
CY2023Q3 | pirs |
Accrued Accounts Payable Current
AccruedAccountsPayableCurrent
|
1348000 | usd |
CY2022Q4 | pirs |
Accrued Accounts Payable Current
AccruedAccountsPayableCurrent
|
1245000 | usd |
CY2023Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
575000 | usd |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
483000 | usd |
CY2023Q3 | pirs |
Accrued Collaboration Costs Current
AccruedCollaborationCostsCurrent
|
135000 | usd |
CY2022Q4 | pirs |
Accrued Collaboration Costs Current
AccruedCollaborationCostsCurrent
|
245000 | usd |
CY2023Q3 | pirs |
Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
|
12764000 | usd |
CY2022Q4 | pirs |
Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
|
10746000 | usd |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
41000000 | ||
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
38800000 | ||
CY2023Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
300000000 | |
CY2023Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
98851927 | |
CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
74519103 | |
CY2023Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | |
CY2023Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
15617 | |
CY2023Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
280000 | usd |
CY2022Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
314000 | usd |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
862000 | usd | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
943000 | usd | |
CY2023Q3 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
98000 | usd |
CY2022Q3 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
148000 | usd |
us-gaap |
Variable Lease Cost
VariableLeaseCost
|
476000 | usd | |
us-gaap |
Variable Lease Cost
VariableLeaseCost
|
446000 | usd | |
CY2023Q3 | us-gaap |
Lease Cost
LeaseCost
|
378000 | usd |
CY2022Q3 | us-gaap |
Lease Cost
LeaseCost
|
462000 | usd |
us-gaap |
Lease Cost
LeaseCost
|
1338000 | usd | |
us-gaap |
Lease Cost
LeaseCost
|
1389000 | usd | |
CY2023Q3 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P8Y9M18D | |
CY2023Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.105 | pure |
CY2023Q3 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
500000 | usd |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1600000 | usd | |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
522000 | usd |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
2087000 | usd |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
2087000 | usd |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
2087000 | usd |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
2087000 | usd |
CY2023Q3 | pirs |
Lessee Operating Lease Liability To Be Paid Due After Year Four
LesseeOperatingLeaseLiabilityToBePaidDueAfterYearFour
|
9565000 | usd |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
18435000 | usd |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
6142000 | usd |
CY2023Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
12293000 | usd |