2023 Q2 Form 10-Q Financial Statement

#000158897823000016 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $33.10M $24.40M
YoY Change 98.33% 71.9%
Cost Of Revenue $14.68M $11.91M
YoY Change 78.85% 83.14%
Gross Profit $18.43M $12.49M
YoY Change 117.17% 62.39%
Gross Profit Margin 55.67% 51.18%
Selling, General & Admin $32.44M $30.13M
YoY Change 65.05% 63.89%
% of Gross Profit 176.03% 241.22%
Research & Development $11.61M $10.74M
YoY Change 73.17% 114.27%
% of Gross Profit 63.01% 85.96%
Depreciation & Amortization $642.0K $793.0K
YoY Change -10.46% 4.62%
% of Gross Profit 3.48% 6.35%
Operating Expenses $44.05M $40.87M
YoY Change 67.12% 74.68%
Operating Profit -$25.63M -$28.38M
YoY Change 43.36% 80.7%
Interest Expense $340.0K $886.0K
YoY Change -76.41% -37.65%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$25.29M -$28.48M
YoY Change 31.8% 65.75%
Income Tax
% Of Pretax Income
Net Earnings -$25.29M -$28.48M
YoY Change 31.8% 65.75%
Net Earnings / Revenue -76.38% -116.72%
Basic Earnings Per Share -$0.56 -$0.63
Diluted Earnings Per Share -$0.56 -$0.63
COMMON SHARES
Basic Shares Outstanding 45.05M shares 44.87M shares
Diluted Shares Outstanding 45.16M shares 45.07M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $149.7M $181.0M
YoY Change -44.52% -36.34%
Cash & Equivalents $149.7M $181.0M
Short-Term Investments
Other Short-Term Assets $4.516M $5.040M
YoY Change 16.99% 42.74%
Inventory $42.64M $38.93M
Prepaid Expenses
Receivables $33.17M $20.64M
Other Receivables $0.00 $0.00
Total Short-Term Assets $230.0M $245.6M
YoY Change -22.9% -20.26%
LONG-TERM ASSETS
Property, Plant & Equipment $16.36M $11.93M
YoY Change 272.0% 161.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $131.0K $51.00K
YoY Change -56.62% -98.66%
Total Long-Term Assets $42.43M $38.88M
YoY Change 237.01% 200.61%
TOTAL ASSETS
Total Short-Term Assets $230.0M $245.6M
Total Long-Term Assets $42.43M $38.88M
Total Assets $272.4M $284.5M
YoY Change -12.38% -11.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.04M $10.34M
YoY Change 200.3% 293.49%
Accrued Expenses $12.30M $10.41M
YoY Change 34.25% 20.79%
Deferred Revenue $4.717M $3.943M
YoY Change 153.19% 188.23%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $35.95M $32.50M
YoY Change 92.91% 120.26%
LONG-TERM LIABILITIES
Long-Term Debt $51.28M $51.24M
YoY Change 1.52% 1.96%
Other Long-Term Liabilities $29.32M $27.59M
YoY Change 14562.0% 13693.5%
Total Long-Term Liabilities $51.28M $51.24M
YoY Change 1.12% 1.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.95M $32.50M
Total Long-Term Liabilities $51.28M $51.24M
Total Liabilities $116.5M $111.3M
YoY Change 62.46% 63.33%
SHAREHOLDERS EQUITY
Retained Earnings -$402.4M -$377.2M
YoY Change 35.09% 35.33%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $155.9M $173.1M
YoY Change
Total Liabilities & Shareholders Equity $272.4M $284.5M
YoY Change -12.38% -11.36%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$25.29M -$28.48M
YoY Change 31.8% 65.75%
Depreciation, Depletion And Amortization $642.0K $793.0K
YoY Change -10.46% 4.62%
Cash From Operating Activities -$28.34M -$35.93M
YoY Change 65.47% 97.07%
INVESTING ACTIVITIES
Capital Expenditures $5.372M $5.339M
YoY Change -2564.22% 9607.27%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$5.372M -$5.339M
YoY Change 2364.22% 9607.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.430M $380.0K
YoY Change -15.09% -70.57%
NET CHANGE
Cash From Operating Activities -28.34M -$35.93M
Cash From Investing Activities -5.372M -$5.339M
Cash From Financing Activities 2.430M $380.0K
Net Change In Cash -31.28M -$40.89M
YoY Change 116.0% 140.58%
FREE CASH FLOW
Cash From Operating Activities -$28.34M -$35.93M
Capital Expenditures $5.372M $5.339M
Free Cash Flow -$33.71M -$41.27M
YoY Change 99.38% 125.68%

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CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1291000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
380000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1291000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-40887000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-16995000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
225674000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
305097000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
184787000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
288102000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
180972000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
284288000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
3815000 usd
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
3814000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
184787000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
288102000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
1121000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
1171000 usd
CY2023Q1 prct Transfer From Inventory To Property And Equipment Net
TransferFromInventoryToPropertyAndEquipmentNet
-62000 usd
CY2022Q1 prct Transfer From Inventory To Property And Equipment Net
TransferFromInventoryToPropertyAndEquipmentNet
0 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2269000 usd
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
351000 usd
CY2023Q1 prct Number Of Men Impacted By Benign Prostatic Hyperplasia
NumberOfMenImpactedByBenignProstaticHyperplasia
40000000 customer
CY2023Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
2846000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts and disclosures reported in the condensed consolidated financial statements. Management uses significant judgment when making estimates related to its stock-based compensation expense, right-of-use lease asset, lease liability, loan facility derivative liability, as well as certain accrued liabilities. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates.
CY2023Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
15663000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
12417000 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1738000 usd
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
20417000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
14388000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
38926000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
28543000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
21649000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17660000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9715000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9004000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11934000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8656000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
84600000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
126300000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
115000000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
185300000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2300000 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
8700000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
14900000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4137000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1552000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-28484000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-17185000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45066000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45066000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43855000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43855000 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.63
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.63
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.39
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.39
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7097000 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6414000 shares
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
24404000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14197000 usd
CY2021Q4 prct Lessee Operating Lease Number Of Renewal Options
LesseeOperatingLeaseNumberOfRenewalOptions
2 renewaloption
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
2000000 usd
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
700000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4615000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2023Q1 prct Operating Lease Liability And Long Term Debt Maturity Remainder Of Fiscal Year
OperatingLeaseLiabilityAndLongTermDebtMaturityRemainderOfFiscalYear
4615000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4183000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2023Q1 prct Operating Lease Liability And Long Term Debt Maturity Year One
OperatingLeaseLiabilityAndLongTermDebtMaturityYearOne
4183000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4297000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4333000 usd
CY2023Q1 prct Operating Lease Liability And Long Term Debt Maturity Year Two
OperatingLeaseLiabilityAndLongTermDebtMaturityYearTwo
8630000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4426000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
26000000 usd
CY2023Q1 prct Operating Lease Liability And Long Term Debt Maturity Year Three
OperatingLeaseLiabilityAndLongTermDebtMaturityYearThree
30426000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4808000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
21667000 usd
CY2023Q1 prct Operating Lease Liability And Long Term Debt Maturity Year Four
OperatingLeaseLiabilityAndLongTermDebtMaturityYearFour
26475000 usd
CY2023Q1 prct Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
27250000 usd
CY2023Q1 prct Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
0 usd
CY2023Q1 prct Operating Lease Liability And Long Term Debt Maturity Thereafter
OperatingLeaseLiabilityAndLongTermDebtMaturityThereafter
27250000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
49579000 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
52000000 usd
CY2023Q1 prct Operating Lease Liability And Long Term Debt Maturity Gross
OperatingLeaseLiabilityAndLongTermDebtMaturityGross
101579000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
20799000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
759000 usd
CY2023Q1 prct Operating Lease Liability And Long Term Debt Maturity Unamortized Debt Discount
OperatingLeaseLiabilityAndLongTermDebtMaturityUnamortizedDebtDiscount
21558000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
28780000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
51241000 usd
CY2023Q1 prct Operating Lease Liability And Long Term Debt
OperatingLeaseLiabilityAndLongTermDebt
80021000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2998000 usd
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 usd
CY2023Q1 prct Operating Lease Liability And Long Term Debt Current
OperatingLeaseLiabilityAndLongTermDebtCurrent
2998000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
25782000 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
51241000 usd
CY2023Q1 prct Operating Lease Liability And Long Term Debt Excluding Current Maturities
OperatingLeaseLiabilityAndLongTermDebtExcludingCurrentMaturities
77023000 usd
CY2023Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
500000 usd
CY2022Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0 usd

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0001588978-23-000016.txt Edgar Link pending
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prct-20230331_cal.xml Edgar Link unprocessable
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prct-20230331_pre.xml Edgar Link unprocessable
prct-20230331_htm.xml Edgar Link completed
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