$TLIS
Talis Biomedical Corp

2022 Q1 Form 10-K Financial Statement

#000095017022003779 Filed on March 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021
Revenue $3.187M $858.0K $8.193M
YoY Change -54.47% 273.04% -25.11%
Cost Of Revenue $3.521M $0.00
YoY Change
Gross Profit -$334.0K $8.193M
YoY Change -104.77%
Gross Profit Margin -10.48% 100.0%
Selling, General & Admin $11.93M $12.32M $42.42M
YoY Change 62.82% 131.94% 223.73%
% of Gross Profit 517.73%
Research & Development $20.70M $17.06M $157.6M
YoY Change -65.61% -56.37% 77.03%
% of Gross Profit 1923.48%
Depreciation & Amortization $363.0K $937.0K $1.600M
YoY Change 65.0% 368.5% 100.0%
% of Gross Profit 19.53%
Operating Expenses $32.63M $29.38M $200.0M
YoY Change -51.67% -33.86% 95.85%
Operating Profit -$32.97M -$191.8M
YoY Change -45.53% 110.36%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$84.00K -$134.0K -$220.0K
YoY Change -400.0% -507.41%
Pretax Income -$33.05M -$28.65M -$192.0M
YoY Change -45.36% -35.17% 110.73%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$33.05M -$28.65M -$192.0M
YoY Change -45.36% -35.17% 110.73%
Net Earnings / Revenue -1037.06% -3339.63% -2343.9%
Basic Earnings Per Share -$1.25 -$8.48
Diluted Earnings Per Share -$1.249M -$886.1K -$8.476M
COMMON SHARES
Basic Shares Outstanding 56.64M 56.15M 22.66M
Diluted Shares Outstanding 26.47M 22.66M

Balance Sheet

Concept 2022 Q1 2021 Q4 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $187.6M $232.5M $232.5M
YoY Change -46.1% 67.9% 67.9%
Cash & Equivalents $187.6M $232.5M
Short-Term Investments
Other Short-Term Assets $7.138M $3.387M $3.387M
YoY Change -83.55% -93.2% -93.2%
Inventory $3.499M $0.00
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $200.8M $236.1M $236.1M
YoY Change -48.68% 25.11% 25.13%
LONG-TERM ASSETS
Property, Plant & Equipment $10.77M $10.53M $23.44M
YoY Change 6.58% 15.51% 141.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.307M $6.278M $6.278M
YoY Change 271.0%
Total Long-Term Assets $29.77M $29.71M $29.71M
YoY Change 150.13% 206.92% 206.32%
TOTAL ASSETS
Total Short-Term Assets $200.8M $236.1M $236.1M
Total Long-Term Assets $29.77M $29.71M $29.71M
Total Assets $230.6M $265.8M $265.8M
YoY Change -42.81% 33.98% 33.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.263M $5.122M $5.122M
YoY Change -51.27% 4.4% 4.53%
Accrued Expenses $3.496M $6.383M $12.90M
YoY Change -90.07% -17.03% 24.08%
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 $15.28M $19.11M $19.11M
YoY Change -67.36% 19.18% 19.41%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $12.53M $12.75M $12.75M
YoY Change
Total Long-Term Liabilities $12.53M $12.75M $12.75M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $15.28M $19.11M $19.11M
Total Long-Term Liabilities $12.53M $12.75M $12.75M
Total Liabilities $27.80M $31.85M $31.85M
YoY Change -40.59% 98.68% 99.07%
SHAREHOLDERS EQUITY
Retained Earnings -$398.0M -$364.9M
YoY Change 70.52% 111.06%
Common Stock $600.8M $598.9M
YoY Change 1.87% 830.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $202.8M $234.0M $234.0M
YoY Change
Total Liabilities & Shareholders Equity $230.6M $265.8M $265.8M
YoY Change -42.81% 33.98% 33.99%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021
OPERATING ACTIVITIES
Net Income -$33.05M -$28.65M -$192.0M
YoY Change -45.36% -35.17% 110.73%
Depreciation, Depletion And Amortization $363.0K $937.0K $1.600M
YoY Change 65.0% 368.5% 100.0%
Cash From Operating Activities -$43.76M -$40.74M -$171.4M
YoY Change 94.61% 11.04% 96.94%
INVESTING ACTIVITIES
Capital Expenditures $507.0K -$987.0K $2.866M
YoY Change -27.36% -58.87% -65.05%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$507.0K -$987.0K -$2.866M
YoY Change -27.36% -58.87% -65.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $232.5M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 314.0K 670.0K 234.4M
YoY Change -99.87% -99.45% -4.99%
NET CHANGE
Cash From Operating Activities -43.76M -40.74M -171.4M
Cash From Investing Activities -507.0K -987.0K -2.866M
Cash From Financing Activities 314.0K 670.0K 234.4M
Net Change In Cash -43.95M -41.06M 60.18M
YoY Change -120.9% -149.42% -60.29%
FREE CASH FLOW
Cash From Operating Activities -$43.76M -$40.74M -$171.4M
Capital Expenditures $507.0K -$987.0K $2.866M
Free Cash Flow -$44.27M -$39.75M -$174.3M
YoY Change 90.94% 15.93% 82.99%

Facts In Submission

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CY2021 us-gaap Use Of Estimates
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Use of estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company bases its estimates and judgments on historical experience and on various other assumptions, including knowledge about current events and expectations about actions the Company may take in the future, that the Company believes are reasonable under the circumstances. Significant estimates include, but are not limited to, recoverability of long-lived assets, accrued research and development costs, stock-based compensation expense, the measurement of right-of-use assets and lease liabilities, uncertain tax positions, and the fair value of common stock and convertible preferred stock prior to the Company’s IPO. Actual results could vary fro</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">m the amounts derived from management’s estimates and assumptions.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p>
CY2021 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Reclassifications</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The accompanying balance sheets as of December 31, 2020 reflects the Company's reclassification of unbilled grants receivables to grants receivables, to conform to the presentation of the current period.</span></p>
CY2021Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Concentration of credit risk and other risks and uncertainties</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, and</span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> grant receivables.</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> The Company’s cash is deposited in accounts at large financial institutions and its cash equivalents are primarily held in prime and U.S. government money market funds. The Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash and cash equivalents are held and government grant funded nature of the Company’s grant receivables.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:6.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company is subject to risks common to companies in the diagnostics industry including, but not limited to, uncertainties related to commercialization of products, regulatory approvals, and protection of intellectual property rights.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:6.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The extent to which the COVID-19 pandemic will further directly or indirectly impact its business, results of operations, financial condition and liquidity, including planned and future clinical trials and research and development costs, will depend on future developments that are highly uncertain, as a result of new information that may emerge concerning COVID-19, the actions taken to contain or treat it, and the duration and intensity of the related effects. If the financial markets and/or the overall economy are impacted for an extended period, the Company’s business, financial condition, results of operations and prospects may be adversely affected.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:6.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company is dependent on key suppliers for certain manufacturing and research and development activities. An interruption in the supply of these materials could temporarily impact the Company’s ability to commercialize, manufacture inventory and perform research and development, testing and clinical trials related to its products. The Company is also dependent on its manufacturing partners and third party logistic partner that are critical to its ability to supply product to its end customers.</span></p>
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2020 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0
CY2020Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
0
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9805000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5536000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3992000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2998000
CY2021Q4 tlis Property Plant And Equipment Before Construction Inprogress
PropertyPlantAndEquipmentBeforeConstructionInprogress
5813000
CY2020Q4 tlis Property Plant And Equipment Before Construction Inprogress
PropertyPlantAndEquipmentBeforeConstructionInprogress
2538000
CY2021Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
4715000
CY2020Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
6576000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10528000
CY2020Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
53509351
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9114000
CY2021 us-gaap Depreciation
Depreciation
1600000
CY2020 us-gaap Depreciation
Depreciation
800000
CY2021Q4 tlis Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
5303000
CY2020Q4 tlis Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
6360000
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1080000
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1333000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6383000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7693000
CY2020Q2 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2020Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P6M
CY2020Q2 tlis Lease Extending Date
LeaseExtendingDate
2021-10-31
CY2021Q2 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2021Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P2M
CY2021Q2 tlis Lease Extending Date
LeaseExtendingDate
2021-12-31
CY2021Q3 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2021Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P2M
CY2021Q3 tlis Lease Extending Date
LeaseExtendingDate
2022-03-31
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
1984000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
626000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
110000
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
22000
CY2021 us-gaap Lease Cost
LeaseCost
2094000
CY2020 us-gaap Lease Cost
LeaseCost
648000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
1050000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
811000
CY2020Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
290945000
CY2020Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
475617000
CY2020Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
37419080
CY2021Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
0
CY2020Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
0
CY2021Q4 tlis Percentage Of Voting Rights Held
PercentageOfVotingRightsHeld
0.50
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q2 tlis Temporary Equity Stock Issuance Cost
TemporaryEquityStockIssuanceCost
100000
CY2021Q1 us-gaap Common Stock Voting Rights
CommonStockVotingRights
one vote per share
CY2020Q2 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
77427646
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y2M12D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y10M24D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.052
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.012
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1265000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1644000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1684000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1725000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1766000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
10335000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
18419000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4442000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
13977000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1232000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
12745000
CY2021Q4 us-gaap Purchase Obligation
PurchaseObligation
15800000
CY2020Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
229296908
CY2020Q4 tlis Temporary Equity Authorized Amount
TemporaryEquityAuthorizedAmount
153800000
CY2020Q4 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
109100000
CY2020Q4 tlis Temporary Equity Stock Issuance Cost
TemporaryEquityStockIssuanceCost
2800000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
170000000
CY2021Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0.0001
CY2020Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
53509351
CY2020Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
53509351
CY2020Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
229296908
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7737095
CY2020Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
53509351
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.22
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
43187458
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
47084431
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y3M18D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
16374000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3953160
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.31
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
789225
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.83
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
2243260
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.70
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
67359
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
5.18
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8590411
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.48
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y9M18D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
6196000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2538244
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.78
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y7M6D
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2634000
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
6052167
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
5.77
CY2021 tlis Share Based Compensation Arrangement By Share Based Payment Award Option Nonvested Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionNonvestedWeightedAverageRemainingContractualTerm
P9Y
CY2021Q4 tlis Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedIntrinsicValue
3590000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
300000
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M18D
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M18D
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.731
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.800
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.011
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.017
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.51
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.80
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.015
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
6655000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
4444000
CY2021Q4 tlis Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
4221000
CY2020Q4 tlis Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
208000
CY2021Q4 tlis Deferred Tax Assets Manufacturing Line And Production Equipment
DeferredTaxAssetsManufacturingLineAndProductionEquipment
29153000
CY2021 tlis Effective Income Tax Rate Reconciliation Permanent Deterrence Percentage
EffectiveIncomeTaxRateReconciliationPermanentDeterrencePercentage
-0.002
CY2020 tlis Effective Income Tax Rate Reconciliation Permanent Deterrence Percentage
EffectiveIncomeTaxRateReconciliationPermanentDeterrencePercentage
-0.008
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.293
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.294
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
60966000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9207000
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3683000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-192000000.0
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-91100000
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
0.077
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.077
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.008
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
31700000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
111024000
CY2020Q4 tlis Deferred Tax Assets Manufacturing Line And Production Equipment
DeferredTaxAssetsManufacturingLineAndProductionEquipment
12201000
CY2021Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
11076000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
51291000
CY2020Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
1890000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
2877000
CY2021Q4 tlis Deferred Tax Assets Other Accruals
DeferredTaxAssetsOtherAccruals
141000
CY2020Q4 tlis Deferred Tax Assets Other Accruals
DeferredTaxAssetsOtherAccruals
1070000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
115089000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
51513000
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
4065000
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
222000
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
167000
CY2020Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
53000
CY2021Q4 tlis Deferred Tax Liabilities Operating Lease Right Of Use Asset
DeferredTaxLiabilitiesOperatingLeaseRightOfUseAsset
3898000
CY2020Q4 tlis Deferred Tax Liabilities Operating Lease Right Of Use Asset
DeferredTaxLiabilitiesOperatingLeaseRightOfUseAsset
169000
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
4065000
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
222000
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
59700000
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
28700000
CY2021 tlis Percentage Of Net Operating Loss And Tax Credit Carryforwards Utilization Subject To Substantial Annual Limitation
PercentageOfNetOperatingLossAndTaxCreditCarryforwardsUtilizationSubjectToSubstantialAnnualLimitation
0.50
CY2021 tlis Net Operating Loss And Tax Credit Carryforwards Utilization Period
NetOperatingLossAndTaxCreditCarryforwardsUtilizationPeriod
P3Y
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4841000
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2395000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
2403000
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
2446000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
7244000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4841000
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2020 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2021 tlis Pending Income Tax Examination
PendingIncomeTaxExamination
0
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-192036000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-91130000
CY2021 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22655339
CY2020 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2120322
CY2021 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-8.48
CY2020 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-42.98
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
39058363
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
45156222
CY2021 us-gaap Description Of Defined Contribution Pension And Other Postretirement Plans
DescriptionOfDefinedContributionPensionAndOtherPostretirementPlans
The Company has a qualified deferred compensation plan under Section 401(k) of the Internal Revenue Code of 1986, as amended (401(k) Plan).
CY2021 tlis Defined Contribution Plan Automatic Matching Contribution Basis
DefinedContributionPlanAutomaticMatchingContributionBasis
one-for-one
CY2021 tlis Defined Contribution Plan First Automatic Matching Contribution Plan Percent
DefinedContributionPlanFirstAutomaticMatchingContributionPlanPercent
0.03
CY2021 tlis Percentage Of Employees Eligible For Dollar Automatic Matching Contribution Plan
PercentageOfEmployeesEligibleForDollarAutomaticMatchingContributionPlan
0.50
CY2021 tlis Defined Contribution Plan On Dollar Automatic Matching Contribution Plan Percent
DefinedContributionPlanOnDollarAutomaticMatchingContributionPlanPercent
0.02
CY2021 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.04
CY2021 tlis Defined Contribution Plan Employer Matching Contribution Amount
DefinedContributionPlanEmployerMatchingContributionAmount
1100000
CY2020 tlis Defined Contribution Plan Employer Matching Contribution Amount
DefinedContributionPlanEmployerMatchingContributionAmount
500000
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2020 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0

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