2023 Q3 Form 10-Q Financial Statement

#000147793223006106 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $165.2K $216.3K
YoY Change 405.02% 444.15%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.168M $4.314M
YoY Change -2.81% -11.23%
% of Gross Profit
Research & Development $4.651M $5.451M
YoY Change 24.43% 66.23%
% of Gross Profit
Depreciation & Amortization $300.0K $288.3K
YoY Change 0.8% 27.91%
% of Gross Profit
Operating Expenses $8.818M $9.765M
YoY Change 9.88% 19.98%
Operating Profit -$8.653M -$9.549M
YoY Change 8.26% 17.9%
Interest Expense -$50.00K -$31.21K
YoY Change -640.54% 20.18%
% of Operating Profit
Other Income/Expense, Net $199.9K -$2.241K
YoY Change 16.58% -100.57%
Pretax Income -$8.450M -$9.551M
YoY Change 8.16% 23.53%
Income Tax
% Of Pretax Income
Net Earnings -$8.453M -$9.551M
YoY Change 8.2% 23.53%
Net Earnings / Revenue -5116.6% -4415.55%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.11 -$0.14
COMMON SHARES
Basic Shares Outstanding 78.14M shares 63.18M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.81M $19.74M
YoY Change -34.15% 18.01%
Cash & Equivalents $10.81M $19.74M
Short-Term Investments
Other Short-Term Assets $493.4K $542.6K
YoY Change 15.75% -44.29%
Inventory
Prepaid Expenses $860.8K $1.025M
Receivables $34.44K $196.5K
Other Receivables $0.00 $0.00
Total Short-Term Assets $12.20M $21.51M
YoY Change -30.99% 15.33%
LONG-TERM ASSETS
Property, Plant & Equipment $5.305M $5.455M
YoY Change 8.69% 13.47%
Goodwill
YoY Change
Intangibles $48.28K $67.72K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $5.844M $6.054M
YoY Change 3.1% 6.24%
TOTAL ASSETS
Total Short-Term Assets $12.20M $21.51M
Total Long-Term Assets $5.844M $6.054M
Total Assets $18.04M $27.56M
YoY Change -22.71% 13.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.060M $3.493M
YoY Change 24.0% 34.22%
Accrued Expenses $2.868M $3.391M
YoY Change -6.57% 4.77%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.258M $1.199M
YoY Change 18.17% 10.53%
Total Short-Term Liabilities $17.65M $18.80M
YoY Change 3.98% 8.37%
LONG-TERM LIABILITIES
Long-Term Debt $2.086M $2.452M
YoY Change -8.3% 40.68%
Other Long-Term Liabilities $320.0K $340.3K
YoY Change -28.78% -34.49%
Total Long-Term Liabilities $3.238M $2.452M
YoY Change 42.33% 40.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.65M $18.80M
Total Long-Term Liabilities $3.238M $2.452M
Total Liabilities $20.89M $22.44M
YoY Change 1.91% 10.73%
SHAREHOLDERS EQUITY
Retained Earnings -$193.9M -$185.5M
YoY Change 21.16% 21.83%
Common Stock $78.34K $78.14K
YoY Change 36.26% 45.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.043M $5.844M
YoY Change
Total Liabilities & Shareholders Equity $18.04M $27.56M
YoY Change -22.71% 13.2%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$8.453M -$9.551M
YoY Change 8.2% 23.53%
Depreciation, Depletion And Amortization $300.0K $288.3K
YoY Change 0.8% 27.91%
Cash From Operating Activities -$8.420M -$7.348M
YoY Change 23.48% 17.27%
INVESTING ACTIVITIES
Capital Expenditures $280.0K $301.4K
YoY Change -186.02% -155.68%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$280.0K -$301.4K
YoY Change -13.98% -44.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -280.0K 17.34M
YoY Change -104.16% -3867.97%
NET CHANGE
Cash From Operating Activities -8.420M -7.348M
Cash From Investing Activities -280.0K -301.4K
Cash From Financing Activities -280.0K 17.34M
Net Change In Cash -8.980M 9.691M
YoY Change 2048.63% -233.36%
FREE CASH FLOW
Cash From Operating Activities -$8.420M -$7.348M
Capital Expenditures $280.0K $301.4K
Free Cash Flow -$8.700M -$7.649M
YoY Change 33.98% 33.63%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Use Of Estimates
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company also regularly evaluates estimates and assumptions related to deferred income tax asset valuation allowances, useful lives of property and equipment and intangible assets, borrowing rate used in operating lease right-of-use asset and liability valuations, impairment analysis of intangible assets, and valuations of stock-based compensation.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. In addition, the Company has considered the potential impact of certain economic factors, including inflation, rising interest rates, and recessionary pressures, on its business and operations. Although the full impact of these factors is unknown and cannot be reasonably estimated, the Company believes it has made appropriate accounting estimates and assumptions based on the facts and circumstances available as of the reporting date. However, the Company’s actual results may differ materially and adversely from these estimates and assumptions, which may result in material effects on the Company’s financial condition, results of operations, and liquidity. To the extent there are material differences between the estimates and the actual results, the Company’s condensed consolidated financial statements could be materially affected.</p>
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Belgian Volition received an upfront payment of $10.0 million in 2022, and is eligible to receive further milestone payments of (i) $6.5 million upon the first commercial sale by or on behalf of Heska of a POC screening test for Canine Lymphoma & HSA, (ii) $6.5 million upon the first commercial sale by or on behalf of Heska of a POC monitoring test for the same conditions, and (iii) $5.0 million upon the first commercial sale by or on behalf of Heska of a screening or monitoring test for lymphoma in felines
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us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Risk Free Interest Rate
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vnrx Total Fair Value Of Warrants
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CY2023Q2 vnrx Total Fair Value Of Warrants
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vnrx Weighted Average Remaining Contractual Life
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CY2023Q2 vnrx Future Minimum Collaborative Agreement Obligations Of Fiscal Year One To Five
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CY2023Q2 vnrx Collaborative Agreement Obligations
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CY2020Q4 vnrx Aggerate Amount Payable Description
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CY2023Q2 vnrx Amount Repayable
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CY2023Q1 vnrx Fixed Interest Rate
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CY2023Q1 vnrx Line Of Credit Facility Expiration Dates One
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us-gaap Allocated Share Based Compensation Expense
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vnrx Un Amortised Of Outstanding Award
UnAmortisedOfOutstandingAward
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