2023 Q3 Form 10-Q Financial Statement

#000155837023013429 Filed on August 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $165.8M $16.07M $594.0K
YoY Change 176298.94% 2606.06% -61.55%
Cost Of Revenue $3.509M $1.911M $23.00K
YoY Change 175350.0% 8208.7% -84.46%
Gross Profit $162.3M $14.16M $571.0K
YoY Change 176319.57% 2380.39% -59.13%
Gross Profit Margin 97.88% 88.11% 96.13%
Selling, General & Admin $32.77M $30.72M $12.64M
YoY Change 129.89% 143.04% -62.85%
% of Gross Profit 20.19% 216.87% 2213.31%
Research & Development $14.75M $28.12M $26.87M
YoY Change -29.08% 4.64% -40.11%
% of Gross Profit 9.09% 198.56% 4706.48%
Depreciation & Amortization $70.00K $32.00K $78.00K
YoY Change -7.89% -58.97% 18.18%
% of Gross Profit 0.04% 0.23% 13.66%
Operating Expenses $47.52M $58.84M $39.51M
YoY Change 35.56% 48.91% -50.01%
Operating Profit $114.8M -$44.67M -$38.94M
YoY Change -428.3% 14.72% -49.75%
Interest Expense $3.713M -$3.627M -$3.017M
YoY Change 125.3% 20.22% -285.89%
% of Operating Profit 3.23%
Other Income/Expense, Net -$854.0K $691.0K $1.448M
YoY Change -0.12% -52.28% -244.08%
Pretax Income $113.9M -$47.61M -$40.51M
YoY Change -418.0% 17.53% -48.39%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $113.9M -$47.61M -$40.51M
YoY Change -418.08% 17.53% -48.39%
Net Earnings / Revenue 68.71% -296.19% -6819.87%
Basic Earnings Per Share $0.80 -$0.34 -$0.30
Diluted Earnings Per Share $0.73 -$0.34 -$300.6K
COMMON SHARES
Basic Shares Outstanding 151.0M 149.4M 144.4M
Diluted Shares Outstanding 155.9M 141.5M 134.8M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $229.2M $144.9M $195.7M
YoY Change 30.27% -25.96% -55.87%
Cash & Equivalents $150.9M $97.01M $147.1M
Short-Term Investments $78.30M $47.90M $48.64M
Other Short-Term Assets $12.08M $11.09M $6.763M
YoY Change 308.97% 63.95% 129.25%
Inventory $33.55M $30.23M
Prepaid Expenses
Receivables $39.30M $17.48M $88.00K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $319.1M $208.6M $202.6M
YoY Change 74.45% 2.97% -55.49%
LONG-TERM ASSETS
Property, Plant & Equipment $133.0K $206.0K $10.96M
YoY Change -64.63% -98.12% 1736.35%
Goodwill $799.0K $799.0K
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $36.08M
YoY Change -100.0% -100.0% 182.81%
Other Assets $1.300M $1.279M $1.266M
YoY Change 2.44% 1.03% 0.4%
Total Long-Term Assets $11.95M $12.28M $49.11M
YoY Change -65.82% -74.99% 86.49%
TOTAL ASSETS
Total Short-Term Assets $319.1M $208.6M $202.6M
Total Long-Term Assets $11.95M $12.28M $49.11M
Total Assets $331.1M $220.9M $251.7M
YoY Change 51.94% -12.24% -47.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $39.70M $62.95M $37.22M
YoY Change 33.55% 69.1% -7.47%
Accrued Expenses $9.800M $8.153M $4.362M
YoY Change 65.71% 86.91% -56.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $57.68M $72.67M $43.33M
YoY Change 58.25% 67.72% -50.51%
LONG-TERM LIABILITIES
Long-Term Debt $98.91M $97.70M $68.95M
YoY Change 41.22% 41.7%
Other Long-Term Liabilities $9.700M $10.03M $10.36M
YoY Change -11.21% -3.13% -3.37%
Total Long-Term Liabilities $98.91M $97.70M $79.31M
YoY Change 41.22% 23.2% 639.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $57.68M $72.67M $43.33M
Total Long-Term Liabilities $98.91M $97.70M $79.31M
Total Liabilities $166.3M $180.4M $122.6M
YoY Change 41.64% 47.11% 24.79%
SHAREHOLDERS EQUITY
Retained Earnings -$1.500B -$1.614B
YoY Change 0.0%
Common Stock $151.0K $151.0K
YoY Change 4.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $164.8M $40.45M $129.0M
YoY Change
Total Liabilities & Shareholders Equity $331.1M $220.9M $251.7M
YoY Change 51.94% -12.24% -47.72%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $113.9M -$47.61M -$40.51M
YoY Change -418.08% 17.53% -48.39%
Depreciation, Depletion And Amortization $70.00K $32.00K $78.00K
YoY Change -7.89% -58.97% 18.18%
Cash From Operating Activities $83.71M -$42.00M -$49.12M
YoY Change -342.67% -14.48% -18.36%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$30.23M $30.50M $10.38M
YoY Change 912.39% 193.87% -551.85%
Cash From Investing Activities -$30.23M $30.50M $10.38M
YoY Change 911.04% 193.87% -518.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 420.0K 47.05M 135.0K
YoY Change 52.73% 34749.63% -101.89%
NET CHANGE
Cash From Operating Activities 83.71M -42.00M -49.12M
Cash From Investing Activities -30.23M 30.50M 10.38M
Cash From Financing Activities 420.0K 47.05M 135.0K
Net Change In Cash 53.90M 35.54M -38.60M
YoY Change -244.85% -192.08% -44.7%
FREE CASH FLOW
Cash From Operating Activities $83.71M -$42.00M -$49.12M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow $83.71M -$42.00M -$49.12M
YoY Change -342.7% -14.48% -18.13%

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