2021 Q4 Form 10-K Financial Statement

#000156459022009634 Filed on March 10, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.724M $31.90M $5.680M
YoY Change 53.59% 52.98% 42.71%
% of Gross Profit
Research & Development $15.80M $54.17M $8.900M
YoY Change 77.55% 68.24% 25.53%
% of Gross Profit
Depreciation & Amortization $235.0K $1.000M $240.0K
YoY Change -2.08% 11.11% 71.43%
% of Gross Profit
Operating Expenses $24.53M $86.07M $14.59M
YoY Change 68.15% 62.25% 31.77%
Operating Profit -$86.07M -$14.59M
YoY Change 62.25% 31.77%
Interest Expense $36.00K $120.0K $10.00K
YoY Change 260.0% -82.86% -98.89%
% of Operating Profit
Other Income/Expense, Net $42.00K $260.0K $20.00K
YoY Change 110.0% -67.54%
Pretax Income -$24.45M -$85.81M -$14.56M
YoY Change 67.91% 64.25% 43.31%
Income Tax
% Of Pretax Income
Net Earnings -$24.45M -$85.81M -$14.56M
YoY Change 67.9% 64.24% 43.32%
Net Earnings / Revenue
Basic Earnings Per Share -$2.34
Diluted Earnings Per Share -$663.7K -$2.336M -$414.9K
COMMON SHARES
Basic Shares Outstanding 36.74M
Diluted Shares Outstanding 36.74M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $219.8M $219.8M $287.3M
YoY Change -23.49% -23.49% 29.13%
Cash & Equivalents $144.9M $144.9M $287.3M
Short-Term Investments $74.92M $74.92M $0.00
Other Short-Term Assets $9.276M $9.276M $6.600M
YoY Change 40.55% 40.55% 100.0%
Inventory
Prepaid Expenses $6.943M
Receivables
Other Receivables
Total Short-Term Assets $229.2M $229.2M $293.9M
YoY Change -22.02% -22.01% 30.04%
LONG-TERM ASSETS
Property, Plant & Equipment $4.139M $9.078M $2.675M
YoY Change 54.73% 138.89% 6.49%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $569.0K $569.0K $200.0K
YoY Change 184.5% 184.5% 0.0%
Total Long-Term Assets $9.647M $9.647M $3.995M
YoY Change 141.48% 141.18% 47.04%
TOTAL ASSETS
Total Short-Term Assets $229.2M $229.2M $293.9M
Total Long-Term Assets $9.647M $9.647M $3.995M
Total Assets $238.9M $238.9M $297.9M
YoY Change -19.82% -19.82% 30.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.385M $2.385M $1.495M
YoY Change 59.53% 59.0% 99.07%
Accrued Expenses $14.21M $14.21M $8.500M
YoY Change 67.22% 67.22% 157.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $17.14M $17.14M $11.43M
YoY Change 50.01% 50.34% 178.59%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.949M $3.949M $400.0K
YoY Change 887.25% 887.25% 100.0%
Total Long-Term Liabilities $3.949M $3.949M $422.0K
YoY Change 835.78% 887.25% 90.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.14M $17.14M $11.43M
Total Long-Term Liabilities $3.949M $3.949M $422.0K
Total Liabilities $21.09M $21.09M $11.85M
YoY Change 78.0% 78.71% 174.11%
SHAREHOLDERS EQUITY
Retained Earnings -$196.1M -$110.3M
YoY Change 77.81% 90.02%
Common Stock $4.000K $4.000K
YoY Change 0.0% 33.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $217.8M $217.8M $286.1M
YoY Change
Total Liabilities & Shareholders Equity $238.9M $238.9M $297.9M
YoY Change -19.82% -19.82% 30.24%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$24.45M -$85.81M -$14.56M
YoY Change 67.9% 64.24% 43.32%
Depreciation, Depletion And Amortization $235.0K $1.000M $240.0K
YoY Change -2.08% 11.11% 71.43%
Cash From Operating Activities -$16.26M -$66.91M -$10.93M
YoY Change 48.75% 58.47% 7.05%
INVESTING ACTIVITIES
Capital Expenditures -$203.0K $1.200M -$90.00K
YoY Change 125.56% 14.29% -84.21%
Acquisitions
YoY Change
Other Investing Activities $12.00M -$75.23M $0.00
YoY Change
Cash From Investing Activities $11.80M -$76.43M -$90.00K
YoY Change -13207.78% 7178.67% -83.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 171.0K 1.284M 106.9M
YoY Change -99.84% -98.81% 56147.37%
NET CHANGE
Cash From Operating Activities -16.26M -66.91M -10.93M
Cash From Investing Activities 11.80M -76.43M -90.00K
Cash From Financing Activities 171.0K 1.284M 106.9M
Net Change In Cash -4.290M -142.0M 95.85M
YoY Change -104.48% -319.09% -1005.95%
FREE CASH FLOW
Cash From Operating Activities -$16.26M -$66.91M -$10.93M
Capital Expenditures -$203.0K $1.200M -$90.00K
Free Cash Flow -$16.05M -$68.11M -$10.84M
YoY Change 48.11% 57.4% 12.45%

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CY2018Q3 us-gaap Lessee Operating Lease Term Of Contract
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200000
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1507000
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1066000
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540000
CY2020Q4 us-gaap Other Liabilities Current
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459000
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0.03
CY2018Q3 stok Operating Lease Commencement Date
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2018-12-10
CY2018Q4 stok Area Of Space Subject To Operating Lease
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2485
CY2018Q4 us-gaap Lessee Operating Lease Term Of Contract
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P3Y
CY2018Q4 stok Number Of Renewal Option To Extend Operating Lease Terms
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1
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2019-05-01
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2124000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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2532000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2608000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
173000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7437000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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462000
CY2021Q4 us-gaap Operating Lease Liability
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6975000
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4939000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
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CY2021Q4 us-gaap Operating Lease Liability Noncurrent
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3532000
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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2.70
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41973
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
40.12
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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1476
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
28.73
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5435304
CY2020Q4 stok Operating Lease Liability Excluding Leases Entered Access Yet To Be Granted
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1146000
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.0414
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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1311897
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1231532
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4454422
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.80
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236685000
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1311897
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
53.93
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
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287566
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
19.77
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
64981000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3103635
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.74
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
52003000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
34.07
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
14.75
CY2021 stok Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodFairValue
44700000
CY2020 stok Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodFairValue
18200000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
9900000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
27300000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16500000
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5800000
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
45000000.0
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P2Y9M18D
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.70
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-85805000
CY2020 us-gaap Net Income Loss
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-52243000
CY2021 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
36739269
CY2020 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33488456
CY2021 us-gaap Earnings Per Share Basic And Diluted
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-2.34
CY2020 us-gaap Earnings Per Share Basic And Diluted
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-1.56
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.079
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.083
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.004
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.062
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.041
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.012
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.000
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.002
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.334
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.369
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
52231000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
32097000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
7726000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
2816000
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
6075000
CY2020Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
2293000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
66032000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
37206000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
66032000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
37206000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
66000000.0
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
37200000
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
28800000
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
19300000
CY2021 stok Percentage Of Taxable Income Limitation Repealed Under Cares Act
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0.80
CY2021 stok Percentage Of Federal Nol Carry Forwards Subject To Limitation Under Cares Act
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0.80
CY2021 stok Federal Nol Carry Forwards Period Under Cares Act
FederalNOLCarryForwardsPeriodUnderCARESAct
P5Y
CY2021 us-gaap Defined Contribution Plan Cost Recognized
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500000
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
200000

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