$VLCN
Volcon Inc

2023 Q3 Form 10-Q Financial Statement

#000168316823005583 Filed on August 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $487.4K $519.3K
YoY Change 100.83% -78.07%
Cost Of Revenue $3.542M $334.6K
YoY Change 75.99% -94.43%
Gross Profit -$3.055M $184.7K
YoY Change 72.59% -105.07%
Gross Profit Margin -626.76% 35.56%
Selling, General & Admin $3.415M $3.949M
YoY Change 1.42% -5.41%
% of Gross Profit 2138.78%
Research & Development $2.710M $881.3K
YoY Change 28.26% -56.96%
% of Gross Profit 477.27%
Depreciation & Amortization $65.73K $53.33K
YoY Change -75.28% -72.27%
% of Gross Profit 28.88%
Operating Expenses $6.398M $5.116M
YoY Change 15.39% -18.51%
Operating Profit -$9.453M -$4.931M
YoY Change 29.23% -50.29%
Interest Expense $1.135M $1.603M
YoY Change 83.58% -33570.06%
% of Operating Profit
Other Income/Expense, Net -$1.875M -$18.10M
YoY Change 220.75% 261338.86%
Pretax Income -$11.33M -$23.03M
YoY Change 43.43% 131.99%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$11.33M -$23.03M
YoY Change 43.41% 131.99%
Net Earnings / Revenue -2324.0% -4434.47%
Basic Earnings Per Share -$1.84 -$0.85
Diluted Earnings Per Share -$1.84 -$0.85
COMMON SHARES
Basic Shares Outstanding 30.62M shares 123.5K shares
Diluted Shares Outstanding 171.0 shares 1.205K shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.830M $10.24M
YoY Change -86.47% 81.39%
Cash & Equivalents $2.977M $8.519M
Short-Term Investments $410.0K $2.275M
Other Short-Term Assets $3.360M $3.356M
YoY Change 148.02% 115.87%
Inventory $7.052M $4.694M
Prepaid Expenses
Receivables $206.4K $233.6K
Other Receivables $0.00 $0.00
Total Short-Term Assets $13.45M $18.53M
YoY Change -47.99% 70.68%
LONG-TERM ASSETS
Property, Plant & Equipment $1.264M $904.8K
YoY Change 107.28% -4.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $199.3K $285.0K
YoY Change -32.33% 3.72%
Total Long-Term Assets $2.696M $2.517M
YoY Change 7.57% 24.13%
TOTAL ASSETS
Total Short-Term Assets $13.45M $18.53M
Total Long-Term Assets $2.696M $2.517M
Total Assets $16.15M $21.04M
YoY Change -43.09% 63.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.471M $655.4K
YoY Change 630.5% -51.74%
Accrued Expenses $1.809M $1.447M
YoY Change -27.62% 8.03%
Deferred Revenue
YoY Change
Short-Term Debt $29.71M $28.58M
YoY Change
Long-Term Debt Due $10.00K $14.55K
YoY Change -99.94% -18.81%
Total Short-Term Liabilities $36.17M $44.00M
YoY Change 87.79% 943.21%
LONG-TERM LIABILITIES
Long-Term Debt $70.00K $77.40K
YoY Change 27.43% 29.78%
Other Long-Term Liabilities $850.0K $947.6K
YoY Change -31.33% 85.83%
Total Long-Term Liabilities $920.0K $1.025M
YoY Change -28.83% 79.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $36.17M $44.00M
Total Long-Term Liabilities $920.0K $1.025M
Total Liabilities $37.09M $45.03M
YoY Change 80.45% 840.52%
SHAREHOLDERS EQUITY
Retained Earnings -$117.4M -$106.1M
YoY Change 72.79% 76.66%
Common Stock $63.00 $260.00
YoY Change -68.18% 31.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$20.94M -$23.99M
YoY Change
Total Liabilities & Shareholders Equity $16.15M $21.04M
YoY Change -43.09% 63.35%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$11.33M -$23.03M
YoY Change 43.41% 131.99%
Depreciation, Depletion And Amortization $65.73K $53.33K
YoY Change -75.28% -72.27%
Cash From Operating Activities -$6.220M -$4.102M
YoY Change -5.78% -53.23%
INVESTING ACTIVITIES
Capital Expenditures $430.0K $59.67K
YoY Change -517.15% -120.32%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$430.0K -$59.67K
YoY Change 317.15% -79.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.110M 7.908M
YoY Change -95.02% 36958.62%
NET CHANGE
Cash From Operating Activities -6.220M -4.102M
Cash From Investing Activities -430.0K -59.67K
Cash From Financing Activities 1.110M 7.908M
Net Change In Cash -5.540M 3.747M
YoY Change -135.53% -141.43%
FREE CASH FLOW
Cash From Operating Activities -$6.220M -$4.102M
Capital Expenditures $430.0K $59.67K
Free Cash Flow -$6.650M -$4.162M
YoY Change 2.33% -50.91%

Facts In Submission

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us-gaap Share Based Compensation
ShareBasedCompensation
1682827 usd
us-gaap Share Based Compensation
ShareBasedCompensation
2199869 usd
VLCN Loss On Write Down Of Inventory And Inventory Deposits
LossOnWriteDownOfInventoryAndInventoryDeposits
165324 usd
VLCN Loss On Write Down Of Inventory And Inventory Deposits
LossOnWriteDownOfInventoryAndInventoryDeposits
606963 usd
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
-0 usd
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
-395848 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
6423 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-79712 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
51198 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 usd
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
6427 usd
us-gaap Other Noncash Expense
OtherNoncashExpense
3385204 usd
us-gaap Other Noncash Expense
OtherNoncashExpense
0 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
181677 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
257647 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
106625 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
306756 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-580155 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1093909 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-786821 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1971245 usd
us-gaap Increase Decrease In Inventories And Other Operating Assets
IncreaseDecreaseInInventoriesAndOtherOperatingAssets
1847714 usd
us-gaap Increase Decrease In Inventories And Other Operating Assets
IncreaseDecreaseInInventoriesAndOtherOperatingAssets
-1787673 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
954117 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
225547 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-0 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
9453 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-381252 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-96224 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-626788 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
550889 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-174365 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-199966 usd
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
295739 usd
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-2275386 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10578552 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-18218754 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
393291 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
517205 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
89000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-304291 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-517205 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
72859 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
8424 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
501300 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
3998700 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
3913032 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 usd
VLCN Proceeds From Issuance Of Warrants To Convertible Note Holders Net Of Issuance Costs
ProceedsFromIssuanceOfWarrantsToConvertibleNoteHoldersNetOfIssuanceCosts
0 usd
VLCN Proceeds From Issuance Of Warrants To Convertible Note Holders Net Of Issuance Costs
ProceedsFromIssuanceOfWarrantsToConvertibleNoteHoldersNetOfIssuanceCosts
18089184 usd
VLCN Proceeds From Issuance Of Preferred Stock Preference Stock And Warrant
ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrant
25000 usd
VLCN Proceeds From Issuance Of Preferred Stock Preference Stock And Warrant
ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrant
40000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7863873 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18120760 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-3018970 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-615199 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11537842 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5572199 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8518872 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4957000 usd
us-gaap Interest Paid Net
InterestPaidNet
4648 usd
us-gaap Interest Paid Net
InterestPaidNet
6020 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
VLCN Recognition Of Initial Right Of Use Asset Operating Lease
RecognitionOfInitialRightOfUseAssetOperatingLease
0 usd
VLCN Recognition Of Initial Right Of Use Asset Operating Lease
RecognitionOfInitialRightOfUseAssetOperatingLease
143540 usd
VLCN Acquisition Of Property And Equipment With Note Payable
AcquisitionOfPropertyAndEquipmentWithNotePayable
96024 usd
VLCN Acquisition Of Property And Equipment With Note Payable
AcquisitionOfPropertyAndEquipmentWithNotePayable
0 usd
CY2023Q2 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
4000000 usd
CY2023Q2 us-gaap Shares Issued
SharesIssued
6000000 shares
CY2023Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.75
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_842_eus-gaap--UseOfEstimates_zOJSYCMPPzp3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_865_zqKDX3XMjvdk">Use of Estimates</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of any contingent assets and liabilities as of the dates of the financial statements and the reported amounts of expenses during the reporting periods.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Making estimates requires management to exercise judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, actual results could differ significantly from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">Management utilizes various estimates, including but not limited to determining the estimated lives of long-lived assets and the fair value of conversion features and warrants with variable exercise prices, and the valuation allowance for deferred tax assets. The results of any changes in accounting estimates are reflected in the financial statements in the period in which the changes become evident. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the period that they are determined to be necessary.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">  </p>
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
us-gaap Depreciation
Depreciation
303849 usd
CY2023Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
2071795 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
3060160 usd
CY2023Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
0 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
439839 usd
CY2023Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2621943 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2145884 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
4693738 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
5645883 usd
CY2023Q2 us-gaap Contractual Obligation
ContractualObligation
463967 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1444487 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1107272 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
539701 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
505506 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
904786 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
601766 usd
CY2023Q2 us-gaap Depreciation
Depreciation
53330 usd
us-gaap Depreciation
Depreciation
103718 usd
CY2022Q2 us-gaap Depreciation
Depreciation
192322 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
11536 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
23073 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
23073 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
23073 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
23073 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
11913 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1816 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
117557 usd
CY2023Q2 VLCN Long Term Debt Interest
LongTermDebtInterest
25606 usd
CY2023Q2 us-gaap Notes Payable
NotesPayable
91951 usd
CY2023Q2 us-gaap Notes Payable Current
NotesPayableCurrent
14550 usd
CY2023Q2 us-gaap Long Term Notes Payable
LongTermNotesPayable
77401 usd
CY2022Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.10 pure
CY2023Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
1136997 usd
us-gaap Interest And Debt Expense
InterestAndDebtExpense
2913632 usd
VLCN Aggregate Excess Amount
AggregateExcessAmount
250000 usd
CY2023Q2 VLCN Number Of Warrants Exchanged
NumberOfWarrantsExchanged
9057951 shares
CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
2.85
CY2022Q3 VLCN Number Of Warrants Issued
NumberOfWarrantsIssued
17057091 shares
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.09
CY2022Q3 VLCN Exercise Price Adjusted
ExercisePriceAdjusted
0.75
CY2022Q3 VLCN Warrants Expire Date
WarrantsExpireDate
2027-08-24
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-22296988 usd
CY2023Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1330296 usd
CY2023Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.149 pure
CY2023Q2 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
28694519 usd
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
32109096 usd
CY2023Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
18369849 usd
CY2023Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
12577061 usd
CY2022Q2 us-gaap Adjustment For Amortization
AdjustmentForAmortization
12342 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
49367 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
0 usd
CY2023Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
108115942 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
625394 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
624614 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1682827 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2199779 usd
CY2022Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
1502868 usd
CY2023Q2 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
1457766 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
1308956 usd
CY2023Q2 VLCN Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
285550 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-23028194 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9926462 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-30327663 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-18538808 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27120614 shares
CY2023Q2 us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
27120614 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24243189 shares
CY2022Q2 us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
24243189 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25835014 shares
us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
25835014 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23001040 shares
us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
23001040 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.85
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.85
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.41
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.41
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.17
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.17
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.81
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.81
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
60258777 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7724030 shares
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
10499611 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
9106430 usd
CY2023Q2 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
1745020 usd
CY2022Q4 VLCN Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
322167 usd
CY2023Q2 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
1253237 usd
CY2022Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
1290968 usd
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3202130 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3103037 usd
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
284550 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
233284 usd
CY2023Q2 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
276522 usd
CY2022Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
261922 usd
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
25966 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
177074 usd
CY2023Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
19030354 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
17306705 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
18276890 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
16661612 usd
CY2023Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
753464 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
645093 usd
CY2023Q2 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
475358 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
328836 usd
CY2023Q2 VLCN Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
278106 usd
CY2022Q4 VLCN Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
316257 usd
CY2023Q2 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2023Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
50000000.0 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
117250 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
140583 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
234499 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
299256 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
29730 usd
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
90782 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
89520 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
131380 usd
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
0 usd
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
0 usd
us-gaap Sublease Income
SubleaseIncome
0 usd
us-gaap Sublease Income
SubleaseIncome
0 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
146980 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
231365 usd
us-gaap Lease Cost
LeaseCost
324019 usd
us-gaap Lease Cost
LeaseCost
430636 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
174365 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
199966 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
181677 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
257647 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1324310 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1505987 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
412159 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
391117 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
947604 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1143011 usd
CY2023Q2 VLCN Operating Lease Liability1
OperatingLeaseLiability1
1359763 usd
CY2022Q4 VLCN Operating Lease Liability1
OperatingLeaseLiability1
1534128 usd
CY2023Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P3Y2M12D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0605 pure
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
231384 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
471638 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
485702 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
340591 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1529315 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
169552 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1359763 usd

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