2022 Q3 Form 10-Q Financial Statement

#000174647322000027 Filed on August 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $1.482M $4.989M $1.249M
YoY Change -7.38% 178.87% -42.55%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.823M $8.296M $8.579M
YoY Change 15.02% 51.53% 30.58%
% of Gross Profit
Research & Development $24.61M $26.34M $20.88M
YoY Change 16.88% 37.03% 12.71%
% of Gross Profit
Depreciation & Amortization $500.0K $500.0K $500.0K
YoY Change 25.0% 25.0% 25.0%
% of Gross Profit
Operating Expenses $33.43M $34.63M $29.46M
YoY Change 16.38% 40.25% 17.4%
Operating Profit -$31.95M -$29.64M -$28.21M
YoY Change 17.83% 29.42% 23.09%
Interest Expense $1.332M $96.00K $111.0K
YoY Change 1858.82% 31.51% 85.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$30.62M -$29.55M -$28.10M
YoY Change 13.2% 29.41% 22.92%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$30.62M -$29.55M -$28.10M
YoY Change 13.2% 29.41% 22.94%
Net Earnings / Revenue -2065.79% -592.22% -2249.8%
Basic Earnings Per Share -$0.65 -$0.82 -$0.78
Diluted Earnings Per Share -$0.65 -$0.82 -$0.78
COMMON SHARES
Basic Shares Outstanding 48.68M shares 36.17M shares 36.12M shares
Diluted Shares Outstanding 46.80M shares 36.17M shares 36.12M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $360.2M $163.6M $178.3M
YoY Change 62.97% -32.95% -32.5%
Cash & Equivalents $44.62M $25.07M $32.55M
Short-Term Investments $315.6M $138.5M $145.7M
Other Short-Term Assets $4.159M $4.857M $5.751M
YoY Change -28.87% 0.66% 36.93%
Inventory
Prepaid Expenses
Receivables $1.482M $4.989M $1.249M
Other Receivables $83.00K $83.00K $83.00K
Total Short-Term Assets $366.0M $173.5M $185.4M
YoY Change 60.1% -30.79% -31.48%
LONG-TERM ASSETS
Property, Plant & Equipment $4.799M $4.534M $4.738M
YoY Change 1.98% 3.82% 11.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $397.0K $913.0K $835.0K
YoY Change -52.23% 44.92% 85.14%
Total Long-Term Assets $11.22M $11.09M $11.66M
YoY Change 102.56% 121.99% 147.17%
TOTAL ASSETS
Total Short-Term Assets $366.0M $173.5M $185.4M
Total Long-Term Assets $11.22M $11.09M $11.66M
Total Assets $377.2M $184.6M $197.0M
YoY Change 61.11% -27.8% -28.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.206M $3.116M $4.684M
YoY Change 23.07% 12.74% 62.3%
Accrued Expenses $20.31M $17.40M $11.63M
YoY Change 96.76% 112.97% 57.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.649M $2.042M $1.999M
YoY Change
Total Short-Term Liabilities $26.16M $22.55M $18.31M
YoY Change 102.41% 106.3% 78.62%
LONG-TERM LIABILITIES
Long-Term Debt $14.03M $14.28M $4.920M
YoY Change
Other Long-Term Liabilities $4.126M $4.407M $4.920M
YoY Change 445.77% 448.13% 489.22%
Total Long-Term Liabilities $14.03M $14.28M $4.920M
YoY Change 1755.29% 1675.87% 489.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.16M $22.55M $18.31M
Total Long-Term Liabilities $14.03M $14.28M $4.920M
Total Liabilities $40.19M $36.83M $23.23M
YoY Change 193.74% 213.83% 109.55%
SHAREHOLDERS EQUITY
Retained Earnings -$303.4M -$272.7M -$243.2M
YoY Change 59.19% 66.8% 72.86%
Common Stock $642.8M $421.8M $417.9M
YoY Change 56.38% 3.5% 3.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $337.0M $147.8M $173.8M
YoY Change
Total Liabilities & Shareholders Equity $377.2M $184.6M $197.0M
YoY Change 61.11% -27.8% -28.42%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$30.62M -$29.55M -$28.10M
YoY Change 13.2% 29.41% 22.94%
Depreciation, Depletion And Amortization $500.0K $500.0K $500.0K
YoY Change 25.0% 25.0% 25.0%
Cash From Operating Activities -$18.50M -$24.40M -$20.50M
YoY Change -17.82% 25.77% 50.0%
INVESTING ACTIVITIES
Capital Expenditures -$696.0K -$254.0K $644.0K
YoY Change 45.0% -60.37% 166.12%
Acquisitions
YoY Change
Other Investing Activities -$177.6M $6.749M $2.175M
YoY Change -644.98% 59.66% -82.56%
Cash From Investing Activities -$178.3M $6.495M $1.531M
YoY Change -655.3% 81.12% -87.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 216.3M 10.43M -$153.0K
YoY Change 48073.05% 5330.21% -111.17%
NET CHANGE
Cash From Operating Activities -18.50M -24.40M -$20.50M
Cash From Investing Activities -178.3M 6.495M $1.531M
Cash From Financing Activities 216.3M 10.43M -$153.0K
Net Change In Cash 19.55M -7.475M -$19.12M
YoY Change 94.71% -52.14% 30249.21%
FREE CASH FLOW
Cash From Operating Activities -$18.50M -$24.40M -$20.50M
Capital Expenditures -$696.0K -$254.0K $644.0K
Free Cash Flow -$17.80M -$24.14M -$21.14M
YoY Change -19.19% 28.71% 52.02%

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<div style="margin-top:18pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-indent:63pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and expenses as well as the disclosure of contingent assets and liabilities as of and during the reporting period. The Company bases its estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances. Significant estimates and assumptions reflected in these financial statements include, but are not limited to stock-based compensation expense and accruals for research and development costs. The Company assesses estimates on an ongoing basis, however, actual results could materially differ from those estimates.</span></div>
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CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q2 us-gaap Earnings Per Share Basic
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