$TLIS
Talis Biomedical Corp

2024 Q2 Form 10-Q Financial Statement

#000095017024055082 Filed on May 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00 $73.00K
YoY Change -100.0% -94.01%
Cost Of Revenue $0.00 $6.000K
YoY Change -100.0% -70.0%
Gross Profit $0.00 $67.00K
YoY Change -100.0% -94.41%
Gross Profit Margin 91.78%
Selling, General & Admin $7.977M $11.65M
YoY Change 24.45% 82.08%
% of Gross Profit 17389.55%
Research & Development $1.601M $2.533M
YoY Change -84.83% -81.64%
% of Gross Profit 3780.6%
Depreciation & Amortization $84.00K $262.0K
YoY Change -50.0% 50.57%
% of Gross Profit 391.04%
Operating Expenses $9.578M $14.18M
YoY Change -43.54% -29.76%
Operating Profit -$9.578M -$14.12M
YoY Change -41.57% -25.69%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $729.0K $1.082M
YoY Change -46.28% -7.2%
Pretax Income -$8.849M -$13.04M
YoY Change -41.14% -26.9%
Income Tax
% Of Pretax Income
Net Earnings -$8.849M -$13.04M
YoY Change -41.14% -26.9%
Net Earnings / Revenue -17856.16%
Basic Earnings Per Share -$4.86 -$7.15
Diluted Earnings Per Share -$4.86 -$7.15
COMMON SHARES
Basic Shares Outstanding 31.69M 31.69M
Diluted Shares Outstanding 1.822M 1.822M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.87M $70.34M
YoY Change -39.04% -37.73%
Cash & Equivalents $59.90M $70.30M
Short-Term Investments
Other Short-Term Assets $3.734M $827.0K
YoY Change 15.5% -66.95%
Inventory
Prepaid Expenses
Receivables $0.00 $6.000K
Other Receivables $0.00 $0.00
Total Short-Term Assets $63.60M $71.17M
YoY Change -37.62% -38.43%
LONG-TERM ASSETS
Property, Plant & Equipment $425.0K $1.628M
YoY Change -87.99% -55.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $766.0K $1.542M
YoY Change -50.32% 0.0%
Total Long-Term Assets $9.098M $11.32M
YoY Change -56.9% -35.16%
TOTAL ASSETS
Total Short-Term Assets $63.60M $71.17M
Total Long-Term Assets $9.098M $11.32M
Total Assets $72.70M $82.49M
YoY Change -40.93% -38.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.790M $3.619M
YoY Change 52.15% -6.51%
Accrued Expenses $634.0K $992.0K
YoY Change -32.41% -38.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.196M $9.471M
YoY Change -11.51% -15.29%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $15.88M $16.34M
YoY Change -10.04% 39.07%
Total Long-Term Liabilities $15.88M $16.34M
YoY Change -10.04% 39.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.196M $9.471M
Total Long-Term Liabilities $15.88M $16.34M
Total Liabilities $24.07M $25.81M
YoY Change -10.54% 12.56%
SHAREHOLDERS EQUITY
Retained Earnings -$561.8M -$553.0M
YoY Change 9.99% 11.54%
Common Stock $610.5M $609.7M
YoY Change 0.57% 0.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $48.63M $56.68M
YoY Change
Total Liabilities & Shareholders Equity $72.70M $82.49M
YoY Change -40.93% -38.0%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$8.849M -$13.04M
YoY Change -41.14% -26.9%
Depreciation, Depletion And Amortization $84.00K $262.0K
YoY Change -50.0% 50.57%
Cash From Operating Activities -$11.33M -$6.427M
YoY Change -20.62% -60.97%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $84.00K $30.00K
YoY Change
Cash From Investing Activities $84.00K $30.00K
YoY Change -117.32% -225.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 2.000K
YoY Change -93.94%
NET CHANGE
Cash From Operating Activities -11.33M -6.427M
Cash From Investing Activities 84.00K 30.00K
Cash From Financing Activities 0.000 2.000K
Net Change In Cash -11.25M -6.395M
YoY Change -23.8% -61.14%
FREE CASH FLOW
Cash From Operating Activities -$11.33M -$6.427M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$11.33M -$6.427M
YoY Change -23.23% -61.02%

Facts In Submission

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<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with 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. Actual results could vary from the amounts derived from management’s estimates and assumptions.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
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CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of credit risk and other risks and uncertainties</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, and accounts receivables. The Company’s cash and restricted cash are 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, restricted cash and cash equivalents are held.</span></p>
CY2023Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
2330000
CY2024Q1 tlis Accrued Charges
AccruedCharges
242000
CY2024Q1 tlis Accrued Cash Payments
AccruedCashPayments
-1527000
CY2024Q1 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
1045000
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2024Q1 tlis Sales To Customers
SalesToCustomers
0
CY2023Q1 tlis Remeasurement Of Operating Lease Right Of Use Asset For Lease Modification
RemeasurementOfOperatingLeaseRightOfUseAssetForLeaseModification
-18700000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2237000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3055000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3144000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3235000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3329000
CY2024Q1 tlis Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
9177000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
24177000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4936000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
19241000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2902000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
16339000
CY2022Q3 tlis Minimum Bid Price Requirement
MinimumBidPriceRequirement
1
CY2022Q3 tlis Trading Price
TradingPrice
1
CY2023Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
As a result of the Reverse Stock Split, every 15 shares of common stock issued and outstanding were converted into one share of common stock with any fractional shares resulting from the Reverse Stock Split rounded up to the nearest whole share.
CY2024Q1 tlis Stockholders Equity Decreased Reverse Stock Split
StockholdersEquityDecreasedReverseStockSplit
1-for-15
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
718230
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
38.28
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y7M6D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
167
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.43
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
160187
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
12.26
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
3274
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
63.35
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
554602
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
45.66
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y9M18D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
554602
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
45.66
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y9M18D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
178000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
326093
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
59.66
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y3M18D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
138000
CY2024Q1 tlis Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options Forfeitures
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptionsForfeitures
1300000
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
601000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1183000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-13035000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-17831000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1822050
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1822050
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1812723
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1812723
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.15
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.15
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-9.84
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-9.84
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
30421183
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
30656573

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