2021 Q2 Form 10-Q Financial Statement

#000156459021044448 Filed on August 16, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $12.77M $3.357M $2.613M
YoY Change 280.52% 20.8% 16.6%
% of Gross Profit
Research & Development $4.734M $8.469M $9.866M
YoY Change -44.1% -0.06% 1.88%
% of Gross Profit
Depreciation & Amortization $55.00K $20.00K $28.00K
YoY Change 175.0% -33.33% -3.45%
% of Gross Profit
Operating Expenses $17.51M $11.83M $12.48M
YoY Change 48.05% 5.09% 4.65%
Operating Profit -$17.51M -$11.83M -$12.48M
YoY Change 48.05% 5.63% 5.21%
Interest Expense $445.0K $319.0K $210.0K
YoY Change 39.5% 52.63% -42.78%
% of Operating Profit
Other Income/Expense, Net $15.03M $2.301M $5.477M
YoY Change 553.11% -17.62% -149.58%
Pretax Income -$2.480M -$9.525M -$7.000M
YoY Change -73.96% 13.35% -69.45%
Income Tax -$4.138M -$3.144M
% Of Pretax Income
Net Earnings $1.658M -$6.381M -$7.002M
YoY Change -125.98% -24.06% -69.43%
Net Earnings / Revenue
Basic Earnings Per Share $0.06 -$0.64 -$0.72
Diluted Earnings Per Share -$0.22 -$0.64 -$0.72
COMMON SHARES
Basic Shares Outstanding 26.02M 10.01M 9.745M
Diluted Shares Outstanding 26.49M 10.01M 9.745M

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $112.4M $37.60M $34.50M
YoY Change 199.06% 6.82% -11.76%
Cash & Equivalents $112.4M $34.00M $20.53M
Short-Term Investments $3.600M $14.30M
Other Short-Term Assets $369.0K $863.0K $914.0K
YoY Change -57.24% 1469.09% 1561.82%
Inventory $92.00K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $115.6M $40.57M $36.80M
YoY Change 185.04% 12.24% -8.23%
LONG-TERM ASSETS
Property, Plant & Equipment $3.118M $354.0K $3.500M
YoY Change 780.79% -23.04% -7.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.810M $812.0K $1.200M
YoY Change 122.91% 0.0% 0.0%
Total Long-Term Assets $5.500M $4.700M $4.700M
YoY Change 17.02% -4.68% -5.38%
TOTAL ASSETS
Total Short-Term Assets $115.6M $40.57M $36.80M
Total Long-Term Assets $5.500M $4.700M $4.700M
Total Assets $121.1M $45.27M $41.50M
YoY Change 167.59% 10.21% -7.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.946M $4.853M $5.200M
YoY Change 22.52% 27.51% 121.65%
Accrued Expenses $3.374M $2.387M $1.800M
YoY Change 41.35% -30.08% -18.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $19.88M $7.316M $7.100M
YoY Change 171.72% 0.94% 54.35%
LONG-TERM LIABILITIES
Long-Term Debt $40.37M $18.30M $11.10M
YoY Change 120.61%
Other Long-Term Liabilities $28.56M $13.40M $16.90M
YoY Change 113.13% 52.27% 56.48%
Total Long-Term Liabilities $68.93M $31.70M $28.00M
YoY Change 117.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.88M $7.316M $7.100M
Total Long-Term Liabilities $68.93M $31.70M $28.00M
Total Liabilities $88.81M $38.93M $35.05M
YoY Change 128.11% 437.17% 3.9%
SHAREHOLDERS EQUITY
Retained Earnings -$329.6M -$284.8M -$278.4M
YoY Change 15.73% 15.71%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $32.32M $6.333M $6.455M
YoY Change
Total Liabilities & Shareholders Equity $121.1M $45.27M $41.51M
YoY Change 167.59% 10.14% -7.89%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $1.658M -$6.381M -$7.002M
YoY Change -125.98% -24.06% -69.43%
Depreciation, Depletion And Amortization $55.00K $20.00K $28.00K
YoY Change 175.0% -33.33% -3.45%
Cash From Operating Activities -$11.69M -$8.850M -$14.06M
YoY Change 32.14% 14.05% 116.23%
INVESTING ACTIVITIES
Capital Expenditures -$51.00K $0.00 $4.000K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $10.67M -$7.760M
YoY Change -100.0% 6.49% -217.58%
Cash From Investing Activities -$51.00K $10.66M -$7.762M
YoY Change -100.48% 6.39% -217.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $214.0K
YoY Change -91.73%
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities 32.18M 11.96M 152.0K
YoY Change 169.06% 204.33% -89.26%
NET CHANGE
Cash From Operating Activities -11.69M -8.850M -14.06M
Cash From Investing Activities -51.00K 10.66M -7.762M
Cash From Financing Activities 32.18M 11.96M 152.0K
Net Change In Cash 20.43M 13.77M -21.67M
YoY Change 48.4% 122.46% -1533.95%
FREE CASH FLOW
Cash From Operating Activities -$11.69M -$8.850M -$14.06M
Capital Expenditures -$51.00K $0.00 $4.000K
Free Cash Flow -$11.64M -$8.850M -$14.06M
YoY Change 31.56% 14.05% 116.29%

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NetIncomeLossAvailableToCommonStockholdersDiluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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CY2020Q2 scyx Incremental Common Shares Attributable To Warrant Liabilities
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scyx Incremental Common Shares Attributable To Warrant Liabilities
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scyx Incremental Common Shares Attributable To Warrant Liabilities
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26505808
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0
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935000
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2190000
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3374000
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4141000
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0
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
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CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
9263000
CY2021Q2 us-gaap Debt Instrument Carrying Amount
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30000000
CY2021Q2 scyx Debt Instrument Final Fee Due At Maturity
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1185000
CY2021Q2 us-gaap Debt Instrument Face Amount
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31185000
CY2021Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
2809000
CY2021Q2 us-gaap Long Term Debt Current
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0
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
28376000
CY2018Q1 scyx Lease Agreement Area Of Office Space
LeaseAgreementAreaOfOfficeSpace
19275
CY2018Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P11Y
CY2018Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
7300000
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
The Company has the option to renew for two consecutive five-year periods from the end of the first term and the Company is not reasonably certain that the option to renew the Lease will be exercised. Under the Lease, the Company furnished a security deposit in the form of a standby letter of credit in the amount of $0.3 million, which was reduced by fifty-five thousand dollars on the first anniversary of the commencement date.  The security deposit will continue to be reduced by fifty-five thousand dollars every two years on the commencement date anniversary for eight years.
CY2018Q1 us-gaap Security Deposit
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300000
CY2018Q1 us-gaap Increase Decrease In Security Deposits
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55000
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166000
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us-gaap Operating Lease Cost
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scyx Variable Lease Cost And Income
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scyx Variable Lease Cost And Income
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CY2021Q2 us-gaap Lease Cost
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176000
CY2020Q2 us-gaap Lease Cost
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us-gaap Lease Cost
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us-gaap Lease Cost
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CY2021Q2 us-gaap Operating Lease Payments
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CY2020Q2 us-gaap Operating Lease Payments
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us-gaap Operating Lease Payments
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227000
us-gaap Operating Lease Payments
OperatingLeasePayments
223000
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.15
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OperatingLeaseWeightedAverageDiscountRatePercent
0.15
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
290000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
527000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
715000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
730000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
744000
CY2021Q2 scyx Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
2789000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5795000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3330000
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60000
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
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3270000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3330000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2465000
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
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0.001
CY2021Q2 us-gaap Common Stock Shares Authorized
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100000000
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
23147552
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
23147552
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
19663698
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
19663698
us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-10
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
25924000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
1658000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
542000
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3415000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
766000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
32320000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
22758000
us-gaap Net Income Loss
NetIncomeLoss
-3018000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
940000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
9000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3412000
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
766000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
32320000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
6455000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
410000
CY2020Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
0
CY2020Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2463000
CY2020Q2 scyx Stock Issued During Period Value Commitment Shares
StockIssuedDuringPeriodValueCommitmentShares
602000
CY2020Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
6333000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
12895000
us-gaap Net Income Loss
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-13383000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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821000
scyx Stock Issued During Period Value Employee Stock Purchase Plan And Stock Option Plans
StockIssuedDuringPeriodValueEmployeeStockPurchasePlanAndStockOptionPlans
18000
us-gaap Stock Issued During Period Value New Issues
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2669000
scyx Stock Issued During Period Value Commitment Shares
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602000
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
-73000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
6333000
CY2021Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
25249113
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
28028978
CY2021Q2 us-gaap Fair Value Adjustment Of Warrants
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-15300000
CY2020Q2 us-gaap Fair Value Adjustment Of Warrants
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-3600000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-16600000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-8300000
CY2021Q2 scyx Fair Value Of Liabilities
FairValueOfLiabilities
35000000.0
CY2020Q2 scyx Fair Value Of Liabilities
FairValueOfLiabilities
51200000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
830343
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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21.52
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
96000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
797050
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.39
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
20313
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
6.72
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1607080
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.70
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
576904
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
26.62
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
18000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1607080
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
14.70
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
175000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
500000
CY2021Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
542000

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