2022 Q1 Form 10-Q Financial Statement

#000145368722000087 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $34.00M $11.05M
YoY Change 207.68%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.537M $5.200M
YoY Change 6.48% 26.83%
% of Gross Profit
Research & Development $17.69M $13.00M
YoY Change 36.03% -11.68%
% of Gross Profit
Depreciation & Amortization $100.0K $100.0K
YoY Change 0.0% -50.0%
% of Gross Profit
Operating Expenses $23.23M $18.21M
YoY Change 27.56% -3.26%
Operating Profit $10.77M -$7.158M
YoY Change -250.5% -61.97%
Interest Expense $707.0K $711.0K
YoY Change -0.56% 160.44%
% of Operating Profit 6.56%
Other Income/Expense, Net $154.0K $0.00
YoY Change -100.0%
Pretax Income $28.78M -$24.60M
YoY Change -216.98% 25.38%
Income Tax
% Of Pretax Income
Net Earnings $28.78M -$24.60M
YoY Change -217.0% 25.37%
Net Earnings / Revenue 84.64% -222.6%
Basic Earnings Per Share $0.23 -$0.22
Diluted Earnings Per Share $0.08 -$0.22
COMMON SHARES
Basic Shares Outstanding 124.2M shares 110.7M shares
Diluted Shares Outstanding 127.6M shares 110.7M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $117.4M $147.8M
YoY Change -20.55% 103.6%
Cash & Equivalents $113.4M $125.4M
Short-Term Investments $3.997M $22.41M
Other Short-Term Assets $5.420M $7.000M
YoY Change -22.57% 268.42%
Inventory
Prepaid Expenses
Receivables $7.153M $8.342M
Other Receivables $0.00 $0.00
Total Short-Term Assets $130.0M $163.1M
YoY Change -20.3% 119.14%
LONG-TERM ASSETS
Property, Plant & Equipment $2.689M $1.301M
YoY Change 106.69% 14.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.000M
YoY Change
Other Assets $1.464M $1.600M
YoY Change -8.5% 14.29%
Total Long-Term Assets $15.69M $13.62M
YoY Change 15.18% -5.15%
TOTAL ASSETS
Total Short-Term Assets $130.0M $163.1M
Total Long-Term Assets $15.69M $13.62M
Total Assets $145.7M $176.7M
YoY Change -17.57% 99.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $264.0K $594.0K
YoY Change -55.56% -55.34%
Accrued Expenses $8.889M $6.847M
YoY Change 29.82% -21.97%
Deferred Revenue $27.99M $75.76M
YoY Change -63.06% 4425.93%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $696.0K $500.0K
YoY Change 39.2% -97.04%
Total Short-Term Liabilities $39.25M $84.61M
YoY Change -53.61% 181.35%
LONG-TERM LIABILITIES
Long-Term Debt $25.04M $24.60M
YoY Change 1.8%
Other Long-Term Liabilities $25.64M $87.20M
YoY Change -70.59% 29.19%
Total Long-Term Liabilities $50.69M $111.8M
YoY Change -54.66% 65.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $39.25M $84.61M
Total Long-Term Liabilities $50.69M $111.8M
Total Liabilities $89.93M $196.3M
YoY Change -54.19% 101.22%
SHAREHOLDERS EQUITY
Retained Earnings -$401.5M -$429.2M
YoY Change -6.45% 20.77%
Common Stock $12.00K $11.00K
YoY Change 9.09% 22.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $55.76M -$19.57M
YoY Change
Total Liabilities & Shareholders Equity $145.7M $176.7M
YoY Change -17.57% 99.04%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $28.78M -$24.60M
YoY Change -217.0% 25.37%
Depreciation, Depletion And Amortization $100.0K $100.0K
YoY Change 0.0% -50.0%
Cash From Operating Activities -$11.86M -$12.13M
YoY Change -2.22% 3.72%
INVESTING ACTIVITIES
Capital Expenditures $455.0K $25.00K
YoY Change 1720.0% -81.48%
Acquisitions
YoY Change
Other Investing Activities $10.00M -$22.42M
YoY Change -144.6%
Cash From Investing Activities $9.545M -$22.45M
YoY Change -142.53% 16525.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.690M $20.99M
YoY Change -91.95% 1739.7%
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities $1.728M $21.31M
YoY Change -91.89% -496.78%
NET CHANGE
Cash From Operating Activities -$11.86M -$12.13M
Cash From Investing Activities $9.545M -$22.45M
Cash From Financing Activities $1.728M $21.31M
Net Change In Cash -$620.0K -$13.28M
YoY Change -95.33% -23.19%
FREE CASH FLOW
Cash From Operating Activities -$11.86M -$12.13M
Capital Expenditures $455.0K $25.00K
Free Cash Flow -$12.32M -$12.16M
YoY Change 1.32% 2.75%

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