2024 Q4 Form 10-Q Financial Statement

#000095017024121818 Filed on November 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $11.61M
YoY Change 8.15%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $11.22M
YoY Change 21.85%
% of Gross Profit
Research & Development $33.26M
YoY Change 22.52%
% of Gross Profit
Depreciation & Amortization $622.0K
YoY Change 1.97%
% of Gross Profit
Operating Expenses $44.49M
YoY Change 22.35%
Operating Profit -$32.88M
YoY Change 28.3%
Interest Expense $1.809M
YoY Change -3.26%
% of Operating Profit
Other Income/Expense, Net $3.765M
YoY Change 11.19%
Pretax Income -$29.11M
YoY Change 30.9%
Income Tax $100.0K
% Of Pretax Income
Net Earnings -$29.17M
YoY Change 31.01%
Net Earnings / Revenue -251.29%
Basic Earnings Per Share -$0.27
Diluted Earnings Per Share -$0.27
COMMON SHARES
Basic Shares Outstanding 107.4M 107.1M
Diluted Shares Outstanding 108.5M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $293.3M
YoY Change -18.51%
Cash & Equivalents $53.15M
Short-Term Investments $240.1M
Other Short-Term Assets $7.537M
YoY Change -32.1%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $300.8M
YoY Change -18.89%
LONG-TERM ASSETS
Property, Plant & Equipment $8.590M
YoY Change -16.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.00K
YoY Change -72.92%
Total Long-Term Assets $51.60M
YoY Change -9.94%
TOTAL ASSETS
Total Short-Term Assets $300.8M
Total Long-Term Assets $51.60M
Total Assets $352.4M
YoY Change -17.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.112M
YoY Change 44.94%
Accrued Expenses $17.87M
YoY Change 32.36%
Deferred Revenue $15.60M
YoY Change -42.37%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $37.58M
YoY Change -13.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $85.66M
YoY Change -20.83%
Total Long-Term Liabilities $85.66M
YoY Change -20.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.58M
Total Long-Term Liabilities $85.66M
Total Liabilities $123.2M
YoY Change -18.7%
SHAREHOLDERS EQUITY
Retained Earnings -$463.9M
YoY Change 36.24%
Common Stock $107.0K
YoY Change 4.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $229.2M
YoY Change
Total Liabilities & Shareholders Equity $352.4M
YoY Change -17.7%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$29.17M
YoY Change 31.01%
Depreciation, Depletion And Amortization $622.0K
YoY Change 1.97%
Cash From Operating Activities -$33.39M
YoY Change 7.23%
INVESTING ACTIVITIES
Capital Expenditures $115.0K
YoY Change 475.0%
Acquisitions
YoY Change
Other Investing Activities $32.68M
YoY Change -157.7%
Cash From Investing Activities $32.57M
YoY Change -157.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.402M
YoY Change -97.01%
NET CHANGE
Cash From Operating Activities -33.39M
Cash From Investing Activities 32.57M
Cash From Financing Activities 2.402M
Net Change In Cash 1.582M
YoY Change -121.01%
FREE CASH FLOW
Cash From Operating Activities -$33.39M
Capital Expenditures $115.0K
Free Cash Flow -$33.51M
YoY Change 7.53%

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<p style="text-indent:4.533%;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;">Use of Estimates</span></p><p style="text-indent:4.533%;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-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of consolidated financial statements requires that the Company make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, equity, revenues and expenses and related disclosures. Significant estimates and assumptions made in the consolidated financial statements include, but are not limited to, the revenue recognized from collaboration agreements, the valuation of stock-based awards and the accrual for research and development expenses. On an ongoing basis, the Company evaluates its estimates, judgments and methodologies. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets, liabilities and equity and the amount of revenues and expenses. As of the date of issuance of these consolidated financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update estimates, judgments or revise the carrying value of any assets or liabilities. Actual results may differ from these estimates under different assumptions or conditions. Changes in estimates are reflected in reported results in the period in which they become known.</span></p>
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