2023 Q3 Form 10-Q Financial Statement

#000095017023042439 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $3.100M $2.200M $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.240M $3.011M $2.822M
YoY Change 17.14% 6.7% 8.75%
% of Gross Profit
Research & Development $13.49M $13.13M $9.060M
YoY Change 53.5% 44.88% -0.65%
% of Gross Profit
Depreciation & Amortization $10.00K $18.00K $9.000K
YoY Change -56.52% 100.0% 80.0%
% of Gross Profit
Operating Expenses $16.73M $16.14M $11.88M
YoY Change 44.77% 35.81% 1.43%
Operating Profit -$13.66M -$13.97M -$11.88M
YoY Change 18.18% 17.59% 1.43%
Interest Expense $119.0K $127.0K $94.00K
YoY Change 8.18% 35.11% 17.5%
% of Operating Profit
Other Income/Expense, Net $1.420M $1.275M $104.0K
YoY Change 433.83% 1125.96% 420.0%
Pretax Income -$12.35M -$12.82M -$11.87M
YoY Change 8.32% 8.02% 0.83%
Income Tax
% Of Pretax Income
Net Earnings -$12.35M -$12.82M -$11.87M
YoY Change 8.36% 8.02% 0.83%
Net Earnings / Revenue -398.52% -582.91%
Basic Earnings Per Share -$0.30 -$0.32 -$0.51
Diluted Earnings Per Share -$0.30 -$0.32 -$505.3K
COMMON SHARES
Basic Shares Outstanding 40.71M 39.75M 23.49M
Diluted Shares Outstanding 40.71M 40.55M 23.49M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $108.0M $120.5M $93.30M
YoY Change 19.47% 29.18% -14.58%
Cash & Equivalents $98.80M $97.48M $47.21M
Short-Term Investments $9.200M $23.04M $46.09M
Other Short-Term Assets $419.0K $206.0K $390.0K
YoY Change -84.96% -47.18% -81.83%
Inventory
Prepaid Expenses $2.687M $3.400M $2.821M
Receivables
Other Receivables
Total Short-Term Assets $111.1M $124.1M $96.51M
YoY Change 19.26% 28.62% -13.35%
LONG-TERM ASSETS
Property, Plant & Equipment $1.200M $1.297M $127.0K
YoY Change -2.36% 921.26% -92.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.805M
YoY Change -80.5%
Other Assets $607.0K $536.0K $674.0K
YoY Change -9.0% -20.47% 0.15%
Total Long-Term Assets $1.847M $1.833M $8.009M
YoY Change -12.55% -77.11% -75.03%
TOTAL ASSETS
Total Short-Term Assets $111.1M $124.1M $96.51M
Total Long-Term Assets $1.847M $1.833M $8.009M
Total Assets $113.0M $126.0M $104.5M
YoY Change 18.56% 20.52% -27.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.152M $945.0K $1.445M
YoY Change 44.52% -34.6% 29.83%
Accrued Expenses $11.60M $12.11M $7.846M
YoY Change 34.82% 54.31% 33.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.622M $1.622M $811.0K
YoY Change 33.39% 100.0%
Total Short-Term Liabilities $24.19M $22.73M $10.10M
YoY Change 101.55% 125.04% 44.73%
LONG-TERM LIABILITIES
Long-Term Debt $2.113M $2.507M $4.077M
YoY Change -42.66% -38.51% -16.02%
Other Long-Term Liabilities $220.0K $202.0K $117.0K
YoY Change 58.27% 72.65% -92.24%
Total Long-Term Liabilities $2.333M $2.709M $4.194M
YoY Change -38.99% -35.41% -13.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.19M $22.73M $10.10M
Total Long-Term Liabilities $2.333M $2.709M $4.194M
Total Liabilities $27.60M $29.40M $15.39M
YoY Change 64.08% 90.99% 15.38%
SHAREHOLDERS EQUITY
Retained Earnings -$187.3M -$174.9M -$126.8M
YoY Change 35.53% 37.93% 53.7%
Common Stock $272.7M $271.5M $216.7M
YoY Change 25.35% 25.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $85.38M $96.56M $89.12M
YoY Change
Total Liabilities & Shareholders Equity $113.0M $126.0M $104.5M
YoY Change 18.56% 20.52% -27.14%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$12.35M -$12.82M -$11.87M
YoY Change 8.36% 8.02% 0.83%
Depreciation, Depletion And Amortization $10.00K $18.00K $9.000K
YoY Change -56.52% 100.0% 80.0%
Cash From Operating Activities -$12.27M $1.993M -$9.541M
YoY Change 43.04% -120.89% -1.55%
INVESTING ACTIVITIES
Capital Expenditures $10.00K $0.00 -$6.000K
YoY Change -600.0% -100.0% 200.0%
Acquisitions
YoY Change
Other Investing Activities $14.00M $22.00M $33.51M
YoY Change -182.88% -34.35% -155.09%
Cash From Investing Activities $14.00M $22.00M $33.51M
YoY Change -182.87% -34.34% -155.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -410.0K -432.0K -99.00K
YoY Change 355.56% 336.36% -155.31%
NET CHANGE
Cash From Operating Activities -12.27M 1.993M -9.541M
Cash From Investing Activities 14.00M 22.00M 33.51M
Cash From Financing Activities -410.0K -432.0K -99.00K
Net Change In Cash 1.320M 23.56M 23.87M
YoY Change -105.16% -1.28% -133.93%
FREE CASH FLOW
Cash From Operating Activities -$12.27M $1.993M -$9.541M
Capital Expenditures $10.00K $0.00 -$6.000K
Free Cash Flow -$12.28M $1.993M -$9.535M
YoY Change 43.19% -120.9% -1.59%

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us-gaap Use Of Estimates
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us-gaap Concentration Risk Credit Risk
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CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2022Q4 us-gaap Available For Sale Securities Debt Securities
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77086000
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
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16743000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
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CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
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sprb Weighted Average Remaining Contractual Term Maturities Available For Sale
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sprb Cash Equivalents And Short Term Investments Due Term
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us-gaap Common Stock Voting Rights
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us-gaap Dividends Common Stock
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CY2023Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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CY2023Q2 us-gaap Net Income Loss
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4519198

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