2024 Q4 Form 10-Q Financial Statement

#000095017024118256 Filed on October 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $11.87M
YoY Change 337.08%
Cost Of Revenue $5.278M
YoY Change 486.44%
Gross Profit $6.593M
YoY Change 266.28%
Gross Profit Margin 55.54%
Selling, General & Admin $53.22M
YoY Change -31.89%
% of Gross Profit 807.2%
Research & Development $54.58M
YoY Change -46.45%
% of Gross Profit 827.79%
Depreciation & Amortization $255.0K
YoY Change -15.0%
% of Gross Profit 3.87%
Operating Expenses $113.1M
YoY Change -47.3%
Operating Profit -$101.2M
YoY Change -52.23%
Interest Expense $7.642M
YoY Change -25.62%
% of Operating Profit
Other Income/Expense, Net $9.000K
YoY Change -116.36%
Pretax Income -$93.55M
YoY Change -53.6%
Income Tax
% Of Pretax Income
Net Earnings -$93.55M
YoY Change -53.6%
Net Earnings / Revenue -788.06%
Basic Earnings Per Share -$1.53
Diluted Earnings Per Share -$1.53
COMMON SHARES
Basic Shares Outstanding 61.17M 61.05M
Diluted Shares Outstanding 61.12M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $569.2M
YoY Change -35.03%
Cash & Equivalents $99.63M
Short-Term Investments $469.5M
Other Short-Term Assets $17.76M
YoY Change -48.81%
Inventory
Prepaid Expenses
Receivables $14.87M
Other Receivables $0.00
Total Short-Term Assets $605.0M
YoY Change -35.18%
LONG-TERM ASSETS
Property, Plant & Equipment $1.019M
YoY Change -58.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.175M
YoY Change -21.51%
Total Long-Term Assets $17.45M
YoY Change 6.42%
TOTAL ASSETS
Total Short-Term Assets $605.0M
Total Long-Term Assets $17.45M
Total Assets $622.4M
YoY Change -34.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.126M
YoY Change -36.01%
Accrued Expenses $53.20M
YoY Change -53.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $60.41M
YoY Change -54.58%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $10.19M
YoY Change
Total Long-Term Liabilities $10.19M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $60.41M
Total Long-Term Liabilities $10.19M
Total Liabilities $70.60M
YoY Change -46.92%
SHAREHOLDERS EQUITY
Retained Earnings -$2.875B
YoY Change 13.31%
Common Stock $3.426B
YoY Change 2.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $551.8M
YoY Change
Total Liabilities & Shareholders Equity $622.4M
YoY Change -34.46%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$93.55M
YoY Change -53.6%
Depreciation, Depletion And Amortization $255.0K
YoY Change -15.0%
Cash From Operating Activities -$82.36M
YoY Change -39.39%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $81.05M
YoY Change -49.56%
Cash From Investing Activities $81.05M
YoY Change -49.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.037M
YoY Change -62.96%
NET CHANGE
Cash From Operating Activities -82.36M
Cash From Investing Activities 81.05M
Cash From Financing Activities 1.037M
Net Change In Cash -274.0K
YoY Change -101.0%
FREE CASH FLOW
Cash From Operating Activities -$82.36M
Capital Expenditures $0.00
Free Cash Flow -$82.36M
YoY Change -39.57%

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CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-201630000
us-gaap Net Income Loss
NetIncomeLoss
-304888000
us-gaap Net Income Loss
NetIncomeLoss
-508783000
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61116524
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61116524
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59912378
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59912378
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60598909
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60598909
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14207000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28691000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
45072000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
60422000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
14.55
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
30.27
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-93551000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-201630000
us-gaap Net Income Loss
NetIncomeLoss
-304888000
us-gaap Net Income Loss
NetIncomeLoss
-508783000
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61116524
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61116524
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59912378
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59912378
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60598909
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60598909
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59786254
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59786254
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.53
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.53
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.37
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.37
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-8.51
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-8.51
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9423915
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8195915
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9423915
CY2023Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.40
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
32800000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59786254
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59786254
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.53
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.53
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.37
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.37
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-8.51
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-8.51
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8195915
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9423915
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8195915
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9423915
CY2023Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.40
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
32800000
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
10589000
us-gaap Restructuring Charges
RestructuringCharges
597000
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
10589000
us-gaap Restructuring Charges
RestructuringCharges
597000
us-gaap Payments For Restructuring
PaymentsForRestructuring
9840000
us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
0
CY2024Q3 us-gaap Restructuring Reserve
RestructuringReserve
152000
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
us-gaap Payments For Restructuring
PaymentsForRestructuring
9840000
us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
0
CY2024Q3 us-gaap Restructuring Reserve
RestructuringReserve
152000
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

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