2022 Q4 Form 10-Q Financial Statement

#000168937522000045 Filed on November 07, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.894M $6.978M
YoY Change 62.25% 81.2%
% of Gross Profit
Research & Development $15.69M $18.96M
YoY Change 26.88% 80.33%
% of Gross Profit
Depreciation & Amortization $525.0K $500.0K
YoY Change 44.23% 66.67%
% of Gross Profit
Operating Expenses $25.58M $25.94M
YoY Change 38.56% 80.56%
Operating Profit -$25.94M
YoY Change 80.56%
Interest Expense $950.0K $799.0K
YoY Change 7207.69% -1310.61%
% of Operating Profit
Other Income/Expense, Net $799.0K
YoY Change -1310.61%
Pretax Income -$24.63M -$25.14M
YoY Change 33.51% 74.2%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$24.63M -$25.14M
YoY Change 33.51% 74.2%
Net Earnings / Revenue
Basic Earnings Per Share -$0.80
Diluted Earnings Per Share -$0.79 -$0.80
COMMON SHARES
Basic Shares Outstanding 31.41M shares 31.37M shares
Diluted Shares Outstanding 31.30M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $188.7M $215.6M
YoY Change -35.16% 76.45%
Cash & Equivalents $45.16M $53.31M
Short-Term Investments $143.6M $162.3M
Other Short-Term Assets $21.16M $19.16M
YoY Change 177.15% 1316.19%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $209.9M $234.7M
YoY Change -29.74% 90.03%
LONG-TERM ASSETS
Property, Plant & Equipment $7.681M $7.444M
YoY Change 22.68% 26.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.210M $954.0K
YoY Change 497.48% -67.87%
Total Long-Term Assets $42.18M $39.73M
YoY Change 491.35% 347.91%
TOTAL ASSETS
Total Short-Term Assets $209.9M $234.7M
Total Long-Term Assets $42.18M $39.73M
Total Assets $252.1M $274.5M
YoY Change -17.58% 107.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.990M $1.341M
YoY Change 748.44% -41.13%
Accrued Expenses $7.576M $11.95M
YoY Change 25.99% 144.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.97M $21.55M
YoY Change 227.01% 201.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $17.53M $19.69M
YoY Change 4326.77% 5760.54%
Total Long-Term Liabilities $17.53M $19.69M
YoY Change 4326.77% 5760.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.97M $21.55M
Total Long-Term Liabilities $17.53M $19.69M
Total Liabilities $39.50M $41.24M
YoY Change 455.19% 450.13%
SHAREHOLDERS EQUITY
Retained Earnings -$188.3M -$163.7M
YoY Change 101.03% 117.69%
Common Stock $3.000K $3.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $212.6M $233.2M
YoY Change
Total Liabilities & Shareholders Equity $252.1M $274.5M
YoY Change -17.58% 107.31%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$24.63M -$25.14M
YoY Change 33.51% 74.2%
Depreciation, Depletion And Amortization $525.0K $500.0K
YoY Change 44.23% 66.67%
Cash From Operating Activities -$27.30M -$27.48M
YoY Change 32.92% 95.25%
INVESTING ACTIVITIES
Capital Expenditures $708.0K -$810.0K
YoY Change -153.56% 0.5%
Acquisitions
YoY Change
Other Investing Activities $19.50M -$9.324M
YoY Change
Cash From Investing Activities $18.79M -$10.13M
YoY Change -1521.48% 1157.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 358.0K 60.00K
YoY Change -99.81% -43.4%
NET CHANGE
Cash From Operating Activities -27.30M -27.48M
Cash From Investing Activities 18.79M -10.13M
Cash From Financing Activities 358.0K 60.00K
Net Change In Cash -8.154M -37.56M
YoY Change -104.83% 154.19%
FREE CASH FLOW
Cash From Operating Activities -$27.30M -$27.48M
Capital Expenditures $708.0K -$810.0K
Free Cash Flow -$28.01M -$26.67M
YoY Change 45.75% 101.01%

Facts In Submission

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trda Transfer Of Deposits For Equipment From Operating To Investing Cash Flows
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CY2022Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
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162300000 usd
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137967000 usd
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27041000 usd
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165008000 usd
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162261000 usd
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Cash
300000 usd
CY2022Q3 us-gaap Cash
Cash
300000 usd
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10220000 usd
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485000 usd
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7677000 usd
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1416000 usd
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7444000 usd
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6261000 usd
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500000 usd
CY2021Q3 us-gaap Depreciation
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300000 usd
us-gaap Depreciation
Depreciation
1400000 usd
us-gaap Depreciation
Depreciation
800000 usd
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6013000 usd
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150000000 shares
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4033000 usd
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4077000 usd
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2620000 usd
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1032000 usd
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563000 usd
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419000 usd
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4494000 usd
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241000 usd
CY2022Q3 us-gaap Common Stock Shares Authorized
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150000000 shares
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0.0001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.0001
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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11.83
CY2022Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
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2707000 usd
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1068000 usd
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CY2022Q3 trda Share Based Compensation Arrangement By Share Based Payment Award Options Early Exercised Nonvested Amount
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200000 usd
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsEarlyExercisedNonvestedAmount
300000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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3461870 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.38
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1660987 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.34
us-gaap Stock Issued During Period Shares Stock Options Exercised
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57018 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.12
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
63109 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5002730 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.77
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2506844 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.16
CY2022Q3 us-gaap Security Deposit
SecurityDeposit
800000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
9219000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9494000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8650000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
2294000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
6479000 usd
CY2022Q3 us-gaap Variable Lease Cost
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0 usd
us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
2294000 usd
us-gaap Lease Cost
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6479000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
6306000 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y2M12D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0381
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2268000 usd
CY2022Q3 trda Lessee Operating Lease Liability To Be Paid Due After Year Three
LesseeOperatingLeaseLiabilityToBePaidDueAfterYearThree
0 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
29631000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1680000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
27951000 usd
CY2022Q1 us-gaap Lessee Operating Lease Lease Not Yet Commenced Term Of Contract1
LesseeOperatingLeaseLeaseNotYetCommencedTermOfContract1
P10Y
CY2022Q1 us-gaap Lessee Operating Lease Lease Not Yet Commenced Renewal Term1
LesseeOperatingLeaseLeaseNotYetCommencedRenewalTerm1
P5Y
CY2022Q1 trda Operating Leases Rental Expenses Initial Fixed Monthly Rental Payments First12 Months
OperatingLeasesRentalExpensesInitialFixedMonthlyRentalPaymentsFirst12Months
500000 usd
CY2022Q1 trda Number Of Square Feet In Lease Agreement
NumberOfSquareFeetInLeaseAgreement
65000 sqft
CY2022Q1 trda Operating Leases Rental Expenses Annual Increase
OperatingLeasesRentalExpensesAnnualIncrease
0.03
CY2022Q1 trda Tenant Improvements Allowance
TenantImprovementsAllowance
19500000 usd
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InitialFixedRentalIncomePerRentableSquareFootOfPremisesPerAnnum
240.00
CY2022Q1 trda Operating Leases Additional Allowance
OperatingLeasesAdditionalAllowance
1600000 usd
CY2022Q1 trda Tenant Allowance Rentable Square Foot Of Premises Per Annum
TenantAllowanceRentableSquareFootOfPremisesPerAnnum
20.00
CY2022Q1 trda Interest Rate For Additional Improvements Allowance
InterestRateForAdditionalImprovementsAllowance
0.08
CY2022Q3 trda Operating Lease Related Expenses Prior To Commencement
OperatingLeaseRelatedExpensesPriorToCommencement
13700000 usd
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.80
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-9.78
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-25137000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-14430000 usd
us-gaap Net Income Loss
NetIncomeLoss
-69987000 usd
us-gaap Net Income Loss
NetIncomeLoss
-32711000 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31298052 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31298052 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1475170 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1475170 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31273612 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31273612 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1352721 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1352721 shares
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.80
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-9.78
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.24
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.24
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-24.18
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-24.18
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5515912 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21691266 shares

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