$PROK
PROKIDNEY CORP.

2024 Q3 Form 10-Q Financial Statement

#000095017024125312 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $17.72M
YoY Change 22.91%
% of Gross Profit
Research & Development $31.25M
YoY Change -2.94%
% of Gross Profit
Depreciation & Amortization $1.199M
YoY Change 48.57%
% of Gross Profit
Operating Expenses $48.97M
YoY Change 5.05%
Operating Profit -$48.97M
YoY Change 5.05%
Interest Expense $2.000K
YoY Change 0.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$43.40M
YoY Change 5.64%
Income Tax -$2.342M
% Of Pretax Income
Net Earnings -$17.91M
YoY Change 63.06%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.14
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $406.8M
YoY Change 2.64%
Cash & Equivalents $108.1M
Short-Term Investments $298.7M
Other Short-Term Assets $1.031M
YoY Change 34266.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $430.2M
YoY Change 5.86%
LONG-TERM ASSETS
Property, Plant & Equipment $38.52M
YoY Change -9.61%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $44.57M
YoY Change -1.8%
TOTAL ASSETS
Total Short-Term Assets $430.2M
Total Long-Term Assets $44.57M
Total Assets $474.8M
YoY Change 5.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.850M
YoY Change -36.33%
Accrued Expenses $21.26M
YoY Change 37.51%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $35.00K
YoY Change -65.0%
Total Short-Term Liabilities $25.18M
YoY Change 19.98%
LONG-TERM LIABILITIES
Long-Term Debt $82.00K
YoY Change -18.0%
Other Long-Term Liabilities $6.062M
YoY Change 142.48%
Total Long-Term Liabilities $6.144M
YoY Change 136.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.18M
Total Long-Term Liabilities $6.144M
Total Liabilities $31.33M
YoY Change 32.63%
SHAREHOLDERS EQUITY
Retained Earnings -$1.180B
YoY Change 4.02%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$979.7M
YoY Change
Total Liabilities & Shareholders Equity $474.8M
YoY Change 5.09%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income -$17.91M
YoY Change 63.06%
Depreciation, Depletion And Amortization $1.199M
YoY Change 48.57%
Cash From Operating Activities -$29.24M
YoY Change 22.96%
INVESTING ACTIVITIES
Capital Expenditures $2.404M
YoY Change -91.4%
Acquisitions
YoY Change
Other Investing Activities -$79.23M
YoY Change 18325.81%
Cash From Investing Activities -$81.63M
YoY Change 187.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.456M
YoY Change -44660.0%
NET CHANGE
Cash From Operating Activities -29.24M
Cash From Investing Activities -81.63M
Cash From Financing Activities 4.456M
Net Change In Cash -106.4M
YoY Change 104.03%
FREE CASH FLOW
Cash From Operating Activities -$29.24M
Capital Expenditures $2.404M
Free Cash Flow -$31.65M
YoY Change -38.81%

Facts In Submission

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dei Entity Registrant Name
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ProKidney Corp.
dei Entity Incorporation State Country Code
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dei Entity Tax Identification Number
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2000 Frontis Plaza Blvd.
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Suite 250
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
108088000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
191389000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2621000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
714000
prok Exchange Of Class B Ordinary Shares Amount
ExchangeOfClassBOrdinarySharesAmount
15357000
prok Exchange Of Class B Ordinary Shares Amount
ExchangeOfClassBOrdinarySharesAmount
64000
prok Change In Redeemable Noncontrolling Interest For Equity Compensation And Equity Transactions
ChangeInRedeemableNoncontrollingInterestForEquityCompensationAndEquityTransactions
18748000
prok Change In Redeemable Noncontrolling Interest For Equity Compensation And Equity Transactions
ChangeInRedeemableNoncontrollingInterestForEquityCompensationAndEquityTransactions
3207000
us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
0
us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-79000
prok Equipment And Facility Expansion Included In Accounts Payable And Accrued Expenses
EquipmentAndFacilityExpansionIncludedInAccountsPayableAndAccruedExpenses
910000
prok Equipment And Facility Expansion Included In Accounts Payable And Accrued Expenses
EquipmentAndFacilityExpansionIncludedInAccountsPayableAndAccruedExpenses
1386000
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Note 1: Description of Business and Basis of Presentation</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Description of Business</span></p><p style="text-indent:4.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">ProKidney Corp. (the “Company” or “ProKidney”) was originally incorporated as </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Social Capital Suvretta Holdings Corp. III (“SCS”). SCS was a blank check company incorporated as a Cayman Islands exempted company on </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">February 25, 2021</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">. SCS was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On January 18, 2022, SCS executed a definitive business combination agreement (the “Business Combination Agreement”), with ProKidney LP (“PKLP”), a limited partnership under the laws and regulations of Ireland. Pursuant to the terms of the Business Combination Agreement, PKLP became a subsidiary of SCS and was organized in an umbrella partnership corporation (“Up-C”) structure, which would provide potential future tax benefits for SCS when the equity holders ultimately exchanged their pass-through interests for Class A ordinary shares. The business combination between SCS and PKLP (the “Business Combination”) closed (the “Closing”) on July 11, 2022 (the “Closing Date”). Upon consummation of the transaction, SCS changed its name to ProKidney Corp.</span></p><p style="text-indent:4.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Business Combination was accounted for as a reverse recapitalization transaction between entities under common control, through which PKLP was considered the accounting acquiror and predecessor entity. The Business Combination was reflected as the equivalent of PKLP issuing stock for the net assets of SCS accompanied by a recapitalization with no goodwill or intangible assets recognized.</span></p><p style="text-indent:4.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">ProKidney Corp., through its operating subsidiaries, ProKidney, which is incorporated under the Cayman Islands Companies Act (as amended) as an exempted company (“ProKidney-KY”) and ProKidney LLC, a limited liability company under the laws of Delaware (“ProKidney-US”) is focused on the development of rilparencel, which has the potential to preserve kidney function in patients with chronic kidney disease or delay or eliminate the need for dialysis and organ transplantation.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Principles of Consolidation</span></p><p style="text-indent:4.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">ProKidney is a holding company, and its principal asset is a controlling equity interest in PKLP and its wholly-owned operating subsidiaries ProKidney-KY and ProKidney-US. The Company has determined that PKLP is a variable-interest entity for accounting purposes and that ProKidney is the primary beneficiary of PKLP because (through its managing member interest in PKLP and the fact that the senior management of ProKidney is also the senior management of PKLP) it has the power and benefits to direct all of the activities of PKLP, which include those that most significantly impact PKLP’s economic performance. The Company has therefore consolidated PKLP’s results pursuant to Accounting Standards Codification Topic 810, “Consolidation” in its Condensed Consolidated Financial Statements. As of September 30, 2024, various holders own non-voting interests in PKLP, representing a </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">56.1</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> economic interest in PKLP, effectively restricting ProKidney’s interest to </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">43.9</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of PKLP’s economic results, subject to increase in the future, should ProKidney purchase additional non-voting common units (“PKLP Units”) of PKLP, or should the holders of PKLP Units decide to exchange such units (together with shares of Class B ordinary shares) for Class A ordinary shares (or cash) pursuant to the Exchange Agreement (as defined in Note 6). The Company will not be required to provide financial or other support for PKLP. However, ProKidney will control its business and other activities through its managing member interest in PKLP, and its management is the management of PKLP. Nevertheless, because ProKidney will have no material assets other than its interests in PKLP and its subsidiaries, any financial difficulties at PKLP could result in ProKidney recognizing a loss.</span></p><p style="text-indent:4.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">All intercompany transactions and balances have been eliminated.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2021-02-25
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of unaudited condensed consolidated financial statements, in accordance with GAAP, requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the condensed consolidated financial statements, and the amounts of expenses during the reported periods. Certain estimates in these condensed consolidated financial statements have been made in connection with the calculation of research and development expenses, equity-based compensation expense and the provision for or benefit from income taxes. The Company bases its estimates on historical experience and various other assumptions, including in certain circumstances future projections, which management believes to be reasonable under the circumstances. Actual results could differ from those estimates. Changes in estimates are reflected in reported results in the period in which they become known.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Concentrations of Credit Risk</span></p><p style="text-indent:4.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Cash and equivalents are the primary financial instruments held by the Company that are potentially subject to concentrations of credit risk. The Company’s cash and equivalents are deposited in accounts at large financial institutions, and such amounts may exceed federally insured limits.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
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AccruedCompensationAndRelatedCostsCurrent
7467000
CY2023Q4 prok Accrued Compensation And Related Costs Current
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5237000
CY2024Q3 prok Accrued Severance Cost Current
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1278000
CY2023Q4 prok Accrued Severance Cost Current
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2283000
CY2024Q3 prok Accrued Clinical Study Related Costs Current
AccruedClinicalStudyRelatedCostsCurrent
4271000
CY2023Q4 prok Accrued Clinical Study Related Costs Current
AccruedClinicalStudyRelatedCostsCurrent
1658000
CY2024Q3 prok Accrued Facility Related Cost Current
AccruedFacilityRelatedCostCurrent
1622000
CY2023Q4 prok Accrued Facility Related Cost Current
AccruedFacilityRelatedCostCurrent
693000
CY2024Q3 prok Accrued Legal Expense Current
AccruedLegalExpenseCurrent
633000
CY2023Q4 prok Accrued Legal Expense Current
AccruedLegalExpenseCurrent
1015000
CY2024Q3 prok Accrued Investment Purchases Payable Current
AccruedInvestmentPurchasesPayableCurrent
2943000
CY2023Q4 prok Accrued Investment Purchases Payable Current
AccruedInvestmentPurchasesPayableCurrent
0
CY2024Q3 prok Accrued Manufacturing Improvement Costs Current
AccruedManufacturingImprovementCostsCurrent
0
CY2023Q4 prok Accrued Manufacturing Improvement Costs Current
AccruedManufacturingImprovementCostsCurrent
4365000
CY2024Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
425000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
878000
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2625000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1536000
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
21264000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
17665000
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10571000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7642000
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
38519000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
42143000
CY2024Q3 us-gaap Depreciation
Depreciation
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CY2023Q3 us-gaap Depreciation
Depreciation
807000
us-gaap Depreciation
Depreciation
2996000
us-gaap Depreciation
Depreciation
2084000
CY2024Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
5300000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
5300000
CY2023Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2024Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
324702000
CY2024Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
27116000
CY2024Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
351818000
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18681000
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
24000
CY2024Q3 prok Available For Sale Securities Continuous Unrealized Loss Positions12 Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositions12MonthsOrLongerFairValue
0
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0
CY2024Q3 prok Available For Sale Securities Continuous Unrealized Loss Positions Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionsFairValue
18681000
CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
24000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
prok Cashsavingpercentage
Cashsavingpercentage
0.85
CY2024Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2024Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
479000
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
276000
us-gaap Operating Lease Expense
OperatingLeaseExpense
1413000
us-gaap Operating Lease Expense
OperatingLeaseExpense
736000
us-gaap Operating Lease Payments
OperatingLeasePayments
968000
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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1032000
CY2023Q4 us-gaap Operating Lease Liability Current
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CY2024Q3 us-gaap Operating Lease Liability Noncurrent
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5290000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
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3506000
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2023Q4 us-gaap Operating Lease Liability
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CY2024Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
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CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
147000
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CY2023Q4 us-gaap Finance Lease Liability Current
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CY2024Q3 us-gaap Finance Lease Liability Noncurrent
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FinanceLeaseLiability
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CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
156000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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496000
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
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FinanceLeaseLiabilityPaymentsDueYearFour
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2024Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
136000
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CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2061000
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2080000
CY2024Q3 us-gaap Operating Lease Liability
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CY2024Q3 us-gaap Finance Lease Liability
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CY2024Q3 prok Operating And Finance Lease Liability
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CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.109
CY2024Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
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CY2023Q1 prok Shares Unlocked Percentage
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prok Earnout Right Vesting Period
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CY2024Q3 prok Consolidation Changes Wholly Owned Subsidiary Parent Ownership Interest Changes Impact Of Equity Changes
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CY2023Q3 prok Consolidation Changes Wholly Owned Subsidiary Parent Ownership Interest Changes Impact Of Equity Changes
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prok Consolidation Changes Wholly Owned Subsidiary Parent Ownership Interest Changes Impact Of Equity Changes
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prok Consolidation Changes Wholly Owned Subsidiary Parent Ownership Interest Changes Impact Of Equity Changes
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CY2024Q3 us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Change Due To Net Income Attributable To Parent And Effects Of Changes Net
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-16747000
CY2023Q3 us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Change Due To Net Income Attributable To Parent And Effects Of Changes Net
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us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Change Due To Net Income Attributable To Parent And Effects Of Changes Net
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us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Change Due To Net Income Attributable To Parent And Effects Of Changes Net
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CY2024Q2 us-gaap Proceeds From Issuance Or Sale Of Equity
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CY2024Q3 us-gaap Profit Loss
ProfitLoss
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CY2023Q3 us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
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us-gaap Profit Loss
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CY2024Q3 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
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CY2023Q3 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
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us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
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us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
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prok Earnout Shares
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prok Earnout Shares
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17500000
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
22076832
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
17356148
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.829
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.85
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.813
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.84
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.037
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.046
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.035
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.043
CY2024Q3 prok Expected Dividend Yield
ExpectedDividendYield
0
CY2023Q3 prok Expected Dividend Yield
ExpectedDividendYield
0
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y2M12D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
3011000
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6934000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12993000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22424000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37215000
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6934000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12993000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22424000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37215000
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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0000950170-24-125312-index.html Edgar Link pending
0000950170-24-125312.txt Edgar Link pending
0000950170-24-125312-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
prok-20240930.htm Edgar Link pending
prok-20240930.xsd Edgar Link pending
prok-ex31_1.htm Edgar Link pending
prok-ex31_2.htm Edgar Link pending
prok-ex32_1.htm Edgar Link pending
prok-ex32_2.htm Edgar Link pending
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prok-20240930_htm.xml Edgar Link completed
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report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable