2024 Q1 Form 10-K Financial Statement

#000095017024033461 Filed on March 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.119M $4.957M $17.43M
YoY Change 30.39% 7.34% 9.47%
% of Gross Profit
Research & Development $17.20M $20.68M $62.52M
YoY Change 65.29% 98.82% 45.36%
% of Gross Profit
Depreciation & Amortization $122.0K $102.0K $353.0K
YoY Change 46.99% 24.39% 19.26%
% of Gross Profit
Operating Expenses $22.32M $25.63M $79.95M
YoY Change 55.73% 70.69% 35.67%
Operating Profit -$22.32M -$79.95M
YoY Change 55.73% 35.67%
Interest Expense $4.130M $2.815M $10.85M
YoY Change 68.23% 30.57% 197.1%
% of Operating Profit
Other Income/Expense, Net $4.130M -$11.00K -$39.00K
YoY Change 68.3% -66.67% -101.08%
Pretax Income -$18.19M -$22.83M -$69.13M
YoY Change 53.13% 77.05% 24.96%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$18.19M -$22.83M -$69.13M
YoY Change 53.13% 77.05% 24.96%
Net Earnings / Revenue
Basic Earnings Per Share -$0.35 -$1.62
Diluted Earnings Per Share -$0.35 -$0.53 -$1.62
COMMON SHARES
Basic Shares Outstanding 52.52M 43.06M 42.70M
Diluted Shares Outstanding 52.23M 42.70M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $382.5M $203.5M $203.5M
YoY Change 58.24% -19.01% -19.01%
Cash & Equivalents $254.4M $58.01M $58.01M
Short-Term Investments $128.1M $145.5M $145.5M
Other Short-Term Assets $8.316M $8.202M $8.202M
YoY Change 66.05% 35.01% 35.01%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $390.8M $211.7M $211.7M
YoY Change 58.4% -17.73% -17.73%
LONG-TERM ASSETS
Property, Plant & Equipment $1.593M $8.154M $8.154M
YoY Change 52.0% 657.1% 130.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.958M $6.032M $6.032M
YoY Change 27.98% 38.67% 12.75%
Total Long-Term Assets $13.96M $14.19M $14.19M
YoY Change 67.3% 59.52% 59.52%
TOTAL ASSETS
Total Short-Term Assets $390.8M $211.7M $211.7M
Total Long-Term Assets $13.96M $14.19M $14.19M
Total Assets $404.7M $225.9M $225.9M
YoY Change 58.69% -15.15% -15.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.879M $4.662M $4.662M
YoY Change 124.92% 307.16% 307.16%
Accrued Expenses $5.837M $10.67M $10.67M
YoY Change 143.01% 134.22% 134.22%
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 $8.716M $15.33M $15.33M
YoY Change 136.72% 168.95% 168.95%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $29.00K $6.262M $6.262M
YoY Change -79.14% 3605.33% 136.21%
Total Long-Term Liabilities $29.00K $6.262M $6.262M
YoY Change -79.14% 3605.33% 136.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.716M $15.33M $15.33M
Total Long-Term Liabilities $29.00K $6.262M $6.262M
Total Liabilities $14.86M $21.60M $21.60M
YoY Change 137.22% 158.56% 158.56%
SHAREHOLDERS EQUITY
Retained Earnings -$183.0M -$164.8M
YoY Change 70.13% 72.2%
Common Stock $572.9M $368.7M
YoY Change 60.76% 4.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $389.9M $204.3M $204.3M
YoY Change
Total Liabilities & Shareholders Equity $404.7M $225.9M $225.9M
YoY Change 58.69% -15.15% -15.15%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$18.19M -$22.83M -$69.13M
YoY Change 53.13% 77.05% 24.96%
Depreciation, Depletion And Amortization $122.0K $102.0K $353.0K
YoY Change 46.99% 24.39% 19.26%
Cash From Operating Activities -$22.03M -$13.53M -$50.14M
YoY Change 123.7% 12.95% -0.29%
INVESTING ACTIVITIES
Capital Expenditures $136.0K $603.0K $770.0K
YoY Change 231.71% 2771.43% 37.75%
Acquisitions
YoY Change
Other Investing Activities $18.21M -$143.8M -$143.8M
YoY Change
Cash From Investing Activities $18.07M -$144.4M -$144.6M
YoY Change -44180.49% 687700.0% 25768.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.537M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 200.3M 324.0K 1.537M
YoY Change 53175.27% 10700.0% 143.2%
NET CHANGE
Cash From Operating Activities -22.03M -13.53M -50.14M
Cash From Investing Activities 18.07M -144.4M -144.6M
Cash From Financing Activities 200.3M 324.0K 1.537M
Net Change In Cash 196.4M -157.6M -193.2M
YoY Change -2164.34% 1213.94% 284.78%
FREE CASH FLOW
Cash From Operating Activities -$22.03M -$13.53M -$50.14M
Capital Expenditures $136.0K $603.0K $770.0K
Free Cash Flow -$22.16M -$14.14M -$50.91M
YoY Change 124.15% 17.78% 0.13%

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0
CY2023 tyra Vesting Of Options Early Exercised Subject To Repurchase
VestingOfOptionsEarlyExercisedSubjectToRepurchase
124000
CY2022 tyra Vesting Of Options Early Exercised Subject To Repurchase
VestingOfOptionsEarlyExercisedSubjectToRepurchase
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CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-164800000
CY2023Q4 tyra Cash Cash Equivalents And Marketable Securities
CashCashEquivalentsAndMarketableSecurities
203500000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<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;">Use of Estimates</span></p><p style="text-indent:48.95pt;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 financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Accounting estimates and management judgments reflected in the financial statements include: normal recurring accruals, including the accrual of research and development expenses and stock-based compensation. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may materially differ from these estimates and assumptions.</span></p>
CY2023 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</span></p><p style="text-indent:48.95pt;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;">Financial instruments which potentially subject the Company to significant concentration of credit risk consist of cash, cash equivalents and marketable securities. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts, and management believes that the Company is not exposed to significant credit risk due to the nature of the instruments held in the depository institutions.</span></p>
CY2023Q4 us-gaap Restricted Cash
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CY2022Q4 us-gaap Restricted Cash
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132000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
94000
CY2023Q4 tyra Accrued Other General And Administrative Fee
AccruedOtherGeneralAndAdministrativeFee
294000
CY2022Q4 tyra Accrued Other General And Administrative Fee
AccruedOtherGeneralAndAdministrativeFee
440000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
10391000
CY2023 us-gaap Dividend Payment Restrictions Schedule Description
DividendPaymentRestrictionsScheduleDescription
The Company has historically not declared or paid any dividends and does not currently expect to do so in the foreseeable future, and therefore has estimated the dividend yield to be zero.
CY2023 tyra Dividend Yield
DividendYield
0
CY2023Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2023 us-gaap Assets Fair Value Adjustment
AssetsFairValueAdjustment
0
CY2022 us-gaap Assets Fair Value Adjustment
AssetsFairValueAdjustment
0
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384000
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9939000
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3000
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0
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CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
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CY2023Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
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2435000
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1538000
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807000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1628000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1077000
CY2023 us-gaap Depreciation
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CY2022 us-gaap Depreciation
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4848000
CY2022Q4 tyra Accrued Research And Development
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1028000
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4416000
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CY2022Q4 tyra Common Stock Options Granted And Outstanding
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CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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13492000
CY2023 tyra Share Based Compensation Arrangement By Share Based Payment Award Options Granted In Period
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CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2022 tyra Forfeitures Resulted In The Reversal Of Compensation Expense
ForfeituresResultedInTheReversalOfCompensationExpense
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ForfeituresResultedInTheReversalOfCompensationExpense
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CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
40600000
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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CY2022 tyra Incremental Stock Based Compensation Recorded Due To Terminations
IncrementalStockBasedCompensationRecordedDueToTerminations
2000000
CY2022 tyra Accelerate Expense Or Compensation Cost Expense Recognized Due To Termination
AccelerateExpenseOrCompensationCostExpenseRecognizedDueToTermination
1200000
CY2022 tyra Stock Compensation Expense Related To Modification Of Options
StockCompensationExpenseRelatedToModificationOfOptions
800000
CY2023Q4 tyra Provision Related To Repurchase Of Early Exercised Options
ProvisionRelatedToRepurchaseOfEarlyExercisedOptions
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CY2022Q4 tyra Provision Related To Repurchase Of Early Exercised Options
ProvisionRelatedToRepurchaseOfEarlyExercisedOptions
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CY2023Q4 tyra Liability Related To Repurchase Of Early Exercised Options
LiabilityRelatedToRepurchaseOfEarlyExercisedOptions
100000
CY2022Q4 tyra Liability Related To Repurchase Of Early Exercised Options
LiabilityRelatedToRepurchaseOfEarlyExercisedOptions
200000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
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CY2022 us-gaap Net Income Loss
NetIncomeLoss
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CY2023 us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
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CY2022 us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
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CY2023 tyra Weighted Average Unvested Restricted Common Stock Subject To Repurchase
WeightedAverageUnvestedRestrictedCommonStockSubjectToRepurchase
-2393
CY2022 tyra Weighted Average Unvested Restricted Common Stock Subject To Repurchase
WeightedAverageUnvestedRestrictedCommonStockSubjectToRepurchase
-269174
CY2023 tyra Weighted Average Unvested Common Stock Issued Upon Exercise Of Common Stock Options
WeightedAverageUnvestedCommonStockIssuedUponExerciseOfCommonStockOptions
175563
CY2022 tyra Weighted Average Unvested Common Stock Issued Upon Exercise Of Common Stock Options
WeightedAverageUnvestedCommonStockIssuedUponExerciseOfCommonStockOptions
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CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42704876
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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41883904
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
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12466000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2000
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1090000
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40920000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q4 us-gaap Deferred Tax Assets Net
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1643000
CY2022Q4 us-gaap Deferred Tax Assets Net
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672000
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2023Q4 us-gaap Deferred Income Tax Liabilities
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1643000
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672000
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1574000
CY2021Q4 us-gaap Unrecognized Tax Benefits
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1142000
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CY2023Q4 us-gaap Unrecognized Tax Benefits
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CY2022Q4 us-gaap Unrecognized Tax Benefits
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CY2023Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
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800000
CY2022 us-gaap Operating Lease Payments
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CY2023 us-gaap Operating Lease Cost
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79000
CY2022 us-gaap Variable Lease Cost
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CY2023 us-gaap Lease Cost
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848000
CY2022 us-gaap Lease Cost
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459000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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772000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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954000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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5027000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
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9451000
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2955000
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P9Y10M24D
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P10Y6M
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CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2023Q4 ecd Rule10b51 Arr Adopted Flag
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CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
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false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
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CY2023 dei Auditor Firm
AuditorFirmId
42

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