$PRKR
PARKERVISION INC

2021 Q2 Form 10-Q Financial Statement

#000091413921000020 Filed on May 17, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2021 Q1 2020 Q1
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.848M $2.280M $5.495M
YoY Change -20.62% -58.51% 154.87%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $94.00K $97.00K $208.0K
YoY Change -37.33% -53.37% -1.89%
% of Gross Profit
Operating Expenses $1.848M $2.280M $5.495M
YoY Change -20.62% -58.51% 120.68%
Operating Profit -$1.848M -$2.280M -$5.495M
YoY Change -20.62% -58.51% 120.68%
Interest Expense $78.00K $37.00K $186.0K
YoY Change -32.17% -80.11% 200.0%
% of Operating Profit
Other Income/Expense, Net -$2.558M -$187.0K -$2.426M
YoY Change 103.5% -92.29% -712.63%
Pretax Income -$4.406M -$2.467M -$7.921M
YoY Change 22.9% -68.85% 278.27%
Income Tax
% Of Pretax Income
Net Earnings -$4.406M -$2.467M -$7.921M
YoY Change 22.9% -68.85% 278.27%
Net Earnings / Revenue
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share -$61.25K -$0.04 -$206.7K
COMMON SHARES
Basic Shares Outstanding 72.24M 63.70M 43.10M
Diluted Shares Outstanding 63.70M

Balance Sheet

Concept 2021 Q2 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.487M $2.247M $173.0K
YoY Change 173.85% 1198.84% -53.87%
Cash & Equivalents $1.500M $2.247M $173.0K
Short-Term Investments
Other Short-Term Assets $62.00K $13.00K $112.0K
YoY Change 148.0% -88.39% 1020.0%
Inventory
Prepaid Expenses $636.0K $682.0K $627.0K
Receivables
Other Receivables
Total Short-Term Assets $2.185M $2.942M $912.0K
YoY Change 92.17% 222.59% -13.39%
LONG-TERM ASSETS
Property, Plant & Equipment $37.00K $27.00K $62.00K
YoY Change 164.29% -56.45% -46.09%
Goodwill
YoY Change
Intangibles $1.974M $2.077M
YoY Change -19.33%
Long-Term Investments
YoY Change
Other Assets $12.00K $16.00K
YoY Change -25.0% 0.0%
Total Long-Term Assets $2.020M $2.126M $3.044M
YoY Change -20.32% -30.16% -29.55%
TOTAL ASSETS
Total Short-Term Assets $2.185M $2.942M $912.0K
Total Long-Term Assets $2.020M $2.126M $3.044M
Total Assets $4.205M $5.068M $3.956M
YoY Change 14.52% 28.11% -26.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $564.0K $849.0K $4.816M
YoY Change -86.83% -82.37% 399.07%
Accrued Expenses $774.0K $908.0K $1.407M
YoY Change -37.38% -35.47% -13.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $758.0K $101.0K $121.0K
YoY Change 521.31% -16.53% -92.78%
Total Short-Term Liabilities $2.096M $1.948M $6.344M
YoY Change -63.27% -69.29% 48.36%
LONG-TERM LIABILITIES
Long-Term Debt $9.218M $9.528M $6.151M
YoY Change 27.16% 54.9% 114.4%
Other Long-Term Liabilities $35.84M $33.68M $27.74M
YoY Change 27469.23% 21.43% 8.73%
Total Long-Term Liabilities $45.06M $43.21M $33.89M
YoY Change 24.13% 27.51% 19.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.096M $1.948M $6.344M
Total Long-Term Liabilities $45.06M $43.21M $33.89M
Total Liabilities $47.15M $45.16M $40.23M
YoY Change 12.26% 12.24% 23.2%
SHAREHOLDERS EQUITY
Retained Earnings -$428.0M -$423.5M
YoY Change 3.56%
Common Stock $385.0M $383.5M $431.0K
YoY Change 2.68% 88869.84% -99.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$42.95M -$40.09M -$36.28M
YoY Change
Total Liabilities & Shareholders Equity $4.205M $5.068M $3.956M
YoY Change 14.52% 28.11% -26.39%

Cashflow Statement

Concept 2021 Q2 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$4.406M -$2.467M -$7.921M
YoY Change 22.9% -68.85% 278.27%
Depreciation, Depletion And Amortization $94.00K $97.00K $208.0K
YoY Change -37.33% -53.37% -1.89%
Cash From Operating Activities -$1.112M -$4.989M -$1.301M
YoY Change -33.65% 283.47% -22.24%
INVESTING ACTIVITIES
Capital Expenditures -$1.000K $1.000K $0.00
YoY Change -66.67% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$1.000K -$1.000K $0.00
YoY Change -66.67% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.209M
YoY Change 51.13%
Cash From Financing Activities 353.0K 5.610M 1.417M
YoY Change -82.77% 295.91% 175.15%
NET CHANGE
Cash From Operating Activities -1.112M -4.989M -1.301M
Cash From Investing Activities -1.000K -1.000K 0.000
Cash From Financing Activities 353.0K 5.610M 1.417M
Net Change In Cash -760.0K 620.0K 116.0K
YoY Change -305.41% 434.48% -110.07%
FREE CASH FLOW
Cash From Operating Activities -$1.112M -$4.989M -$1.301M
Capital Expenditures -$1.000K $1.000K $0.00
Free Cash Flow -$1.111M -$4.990M -$1.301M
YoY Change -33.59% 283.55% -21.86%

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<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-weight:bold;font-size:12pt;">&#xFEFF;</font> </p> <p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-weight:bold;font-size:11pt;">1.&nbsp;&nbsp;Description of Business</font> </p> <p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-size:11pt;">&#xFEFF;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-size:11pt;">ParkerVision, Inc. and its wholly-owned German subsidiary, ParkerVision GmbH (collectively &#x201C;ParkerVision&#x201D;, &#x201C;we&#x201D; or the &#x201C;Company&#x201D;) is </font><font style="display: inline;font-size:11pt;">in the business of innovating fundamental wireless technologies and products. </font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-size:11pt;">&#xFEFF;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-size:11pt;">We have designed and developed proprietary radio frequency (&#x201C;</font><font style="display: inline;font-size:11pt;">RF</font><font style="display: inline;font-size:11pt;">&#x201D;) technologies and integrated circuits for use in wireless communication products. We have expended significant financial and other resources to research and develop our RF technologies and to obtain patent protection for those technologies in the United States of America (&#x201C;U.S.&#x201D;) and certain foreign jurisdictions. We believe certain patents protecting&nbsp;our&nbsp;proprietary technologies have been broadly infringed by others, and therefore the primary focus of our business plan is the enforcement of our intellectual property rights through patent infringement litigation and licensing efforts. </font><font style="display: inline;font-size:11pt;">We currently have patent enforcement actions ongoing in various U.S. district courts against</font><font style="display: inline;font-size:11pt;"> providers of</font><font style="display: inline;font-size:11pt;"> mobile handset</font><font style="display: inline;font-size:11pt;">s, smart televisions and other WiFi products </font><font style="display: inline;font-size:11pt;">and</font><font style="display: inline;font-size:11pt;">, in certain cases,</font><font style="display: inline;font-size:11pt;"> their chip suppliers for the infringement of </font><font style="display: inline;font-size:11pt;">a number</font><font style="display: inline;font-size:11pt;"> of our RF patents.&nbsp;&nbsp;We have made significant investments in developing and protecting our technologies.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p><font size="1"> </font></p> </div> </div>
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CY2021Q1 us-gaap Revenues
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CY2020Q4 us-gaap Secured Debt Current
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CY2020Q1 us-gaap Selling General And Administrative Expense
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CY2021Q1 us-gaap Selling General And Administrative Expense
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CY2021Q1 us-gaap Stock Issued During Period Shares New Issues
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CY2021Q1 us-gaap Stock Issued During Period Shares New Issues
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CY2020Q1 us-gaap Stock Issued During Period Value Issued For Services
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CY2020Q1 us-gaap Stock Issued During Period Value New Issues
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2850000
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
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CY2021Q1 us-gaap Stock Issued During Period Value New Issues
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CY2021Q1 us-gaap Stock Issued During Period Value New Issues
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CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
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CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
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CY2020Q4 us-gaap Unsecured Debt Current
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CY2021Q1 us-gaap Unsecured Debt Current
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CY2020Q4 us-gaap Unsecured Long Term Debt
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CY2021Q1 us-gaap Unsecured Long Term Debt
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5383000
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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38329000
CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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63695000

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