2021 Q4 Form 10-Q Financial Statement

#000155837021014338 Filed on November 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $8.617M $10.29M $13.11M
YoY Change 52.51% -21.56% 216.76%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.260M $7.256M $4.890M
YoY Change 45.49% 48.38% 21.64%
% of Gross Profit
Research & Development $38.37M $36.96M $16.00M
YoY Change 96.89% 131.05% -7.51%
% of Gross Profit
Depreciation & Amortization $235.0K $213.0K $180.0K
YoY Change 23.68% 18.33% -5.26%
% of Gross Profit
Operating Expenses $45.63M $44.21M $20.89M
YoY Change 86.41% 111.68% -1.98%
Operating Profit -$33.93M -$7.772M
YoY Change 336.52% -54.73%
Interest Expense $122.0K $122.0K $19.00K
YoY Change -344.0% 542.11% -97.12%
% of Operating Profit
Other Income/Expense, Net -$13.00K $0.00 -$59.00K
YoY Change 30.0% -100.0% -44.34%
Pretax Income -$36.91M -$33.80M -$7.763M
YoY Change 95.38% 335.45% -52.98%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$36.91M -$33.80M -$7.763M
YoY Change 95.38% 335.45% -52.69%
Net Earnings / Revenue -428.3% -328.64% -59.2%
Basic Earnings Per Share -$0.70
Diluted Earnings Per Share -$766.1K -$704.4K -$207.5K
COMMON SHARES
Basic Shares Outstanding 47.73M 47.55M 36.81M
Diluted Shares Outstanding 47.99M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $326.9M $314.3M $194.0M
YoY Change 6.9% 62.01% 40.89%
Cash & Equivalents $123.7M $120.5M $83.63M
Short-Term Investments $203.2M $193.8M $110.3M
Other Short-Term Assets $9.478M $8.877M $6.800M
YoY Change 50.44% 30.54% 61.9%
Inventory
Prepaid Expenses
Receivables
Other Receivables $975.0K
Total Short-Term Assets $340.7M $327.7M $204.2M
YoY Change 7.96% 60.51% 41.77%
LONG-TERM ASSETS
Property, Plant & Equipment $1.798M $1.723M $1.459M
YoY Change 22.98% 18.09% -81.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $38.17M $6.000M
YoY Change 536.15%
Other Assets $225.0K $225.0K $500.0K
YoY Change -55.0% -55.0% -80.77%
Total Long-Term Assets $6.959M $45.49M $13.17M
YoY Change -21.47% 245.42% 24.24%
TOTAL ASSETS
Total Short-Term Assets $340.7M $327.7M $204.2M
Total Long-Term Assets $6.959M $45.49M $13.17M
Total Assets $347.7M $373.2M $217.3M
YoY Change 7.16% 71.72% 40.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.600M $706.0K $2.797M
YoY Change -47.97% -74.76% 74.81%
Accrued Expenses $37.72M $33.06M $15.52M
YoY Change 103.89% 113.05% 34.94%
Deferred Revenue $1.601M $2.241M $16.77M
YoY Change -88.94% -86.63%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $44.02M $39.16M $38.56M
YoY Change 9.38% 1.54% 25.2%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.658M $121.0K $170.0K
YoY Change 2923.14% -28.82% -99.4%
Total Long-Term Liabilities $3.658M $121.0K $170.0K
YoY Change 2923.14% -28.82% -99.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.02M $39.16M $38.56M
Total Long-Term Liabilities $3.658M $121.0K $170.0K
Total Liabilities $47.67M $43.52M $47.73M
YoY Change 6.27% -8.83% -19.51%
SHAREHOLDERS EQUITY
Retained Earnings -$409.4M -$372.5M -$264.9M
YoY Change 44.24% 40.62%
Common Stock $709.7M $702.3M $434.6M
YoY Change 25.97% 61.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $300.0M $329.7M $169.6M
YoY Change
Total Liabilities & Shareholders Equity $347.7M $373.2M $217.3M
YoY Change 7.16% 71.72% 40.57%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$36.91M -$33.80M -$7.763M
YoY Change 95.38% 335.45% -52.69%
Depreciation, Depletion And Amortization $235.0K $213.0K $180.0K
YoY Change 23.68% 18.33% -5.26%
Cash From Operating Activities -$26.94M -$28.47M -$16.29M
YoY Change 42.84% 74.77% 14.32%
INVESTING ACTIVITIES
Capital Expenditures -$196.0K -$265.0K -$80.00K
YoY Change 63.33% 231.25% -125.81%
Acquisitions
YoY Change
Other Investing Activities $28.06M -$44.44M -$54.05M
YoY Change -137.79% -17.78% 67.08%
Cash From Investing Activities $27.87M -$44.71M -$54.12M
YoY Change -137.45% -17.39% 68.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.173M 1.381M 7.670M
YoY Change -98.29% -81.99% -69.61%
NET CHANGE
Cash From Operating Activities -26.94M -28.47M -16.29M
Cash From Investing Activities 27.87M -44.71M -54.12M
Cash From Financing Activities 2.173M 1.381M 7.670M
Net Change In Cash 3.101M -71.80M -62.74M
YoY Change -90.8% 14.43% 198.05%
FREE CASH FLOW
Cash From Operating Activities -$26.94M -$28.47M -$16.29M
Capital Expenditures -$196.0K -$265.0K -$80.00K
Free Cash Flow -$26.74M -$28.21M -$16.21M
YoY Change 42.71% 74.0% 11.33%

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CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
27600000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
21.92
CY2020 ptgx Expected Volatility Calculation Percentage Of Average Volatility Expected Term Of Stock Option Grants
ExpectedVolatilityCalculationPercentageOfAverageVolatilityExpectedTermOfStockOptionGrants
0.75
CY2020 ptgx Expected Volatility Calculation Percentage Of Volatility Of Stock Price Since Ipo
ExpectedVolatilityCalculationPercentageOfVolatilityOfStockPriceSinceIpo
0.25
CY2021Q1 ptgx Expected Volatility Calculation Percentage Of Average Volatility Expected Term Of Stock Option Grants
ExpectedVolatilityCalculationPercentageOfAverageVolatilityExpectedTermOfStockOptionGrants
0.50
CY2021Q1 ptgx Expected Volatility Calculation Percentage Of Volatility Of Stock Price Since Ipo
ExpectedVolatilityCalculationPercentageOfVolatilityOfStockPriceSinceIpo
0.50
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4775000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1888000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11371000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5932000
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
51500000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y10M24D
us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.50
CY2021Q3 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.50
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Amount
DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount
3500
CY2021Q3 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Amount
DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount
3500
CY2021Q3 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
100000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
300000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2020Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1300000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.028
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-33804000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-7763000
us-gaap Net Income Loss
NetIncomeLoss
-88644000
us-gaap Net Income Loss
NetIncomeLoss
-47264000
CY2021Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
47987184
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
37386881
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
45705782
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32647524
CY2021Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.70
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.21
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.94
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.45
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9376775
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7638045
CY2020Q2 ptgx Percentage Of Employee Base Impacted By Restructuring Plan
PercentageOfEmployeeBaseImpactedByRestructuringPlan
0.12
CY2020Q3 us-gaap Restructuring Charges
RestructuringCharges
300000

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