2022 Q3 Form 10-Q Financial Statement

#000162828022020318 Filed on August 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $26.49M $22.15M $18.88M
YoY Change 38.13% 47.37% 21.58%
Cost Of Revenue $22.04M $21.06M $18.78M
YoY Change 27.5% 26.08% 23.54%
Gross Profit $4.454M $1.091M $94.00K
YoY Change 135.16% -165.25% -70.81%
Gross Profit Margin 16.81% 4.93% 0.5%
Selling, General & Admin $20.27M $20.65M $19.70M
YoY Change 20.55% 22.13% 6.55%
% of Gross Profit 455.1% 1893.03% 20955.32%
Research & Development $8.100M $8.412M $7.870M
YoY Change -3.23% 6.44% 20.89%
% of Gross Profit 181.86% 771.04% 8372.34%
Depreciation & Amortization $1.000M $1.200M $1.200M
YoY Change -33.33% -25.0% -20.0%
% of Gross Profit 22.45% 109.99% 1276.6%
Operating Expenses $28.37M $30.88M $27.57M
YoY Change 12.65% 24.45% 10.29%
Operating Profit -$23.92M -$29.79M -$27.50M
YoY Change 2.68% 12.48% 11.45%
Interest Expense $1.509M $192.0K $1.064M
YoY Change 42.22% -81.89% 0.57%
% of Operating Profit
Other Income/Expense, Net -$1.222M $2.266M $2.759M
YoY Change 33.84% -165.99% -372.63%
Pretax Income -$26.11M -$27.63M -$25.77M
YoY Change 3.35% -10.79% -3.62%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$26.11M -$27.63M -$25.77M
YoY Change 3.35% -10.79% -3.62%
Net Earnings / Revenue -98.55% -124.76% -136.54%
Basic Earnings Per Share -$0.14 -$0.15 -$0.14
Diluted Earnings Per Share -$0.14 -$0.15 -$0.14
COMMON SHARES
Basic Shares Outstanding 181.0M shares 180.6M shares 179.7M shares
Diluted Shares Outstanding 181.0M shares 180.6M shares 179.7M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $142.3M $157.6M $180.1M
YoY Change -5.09% -5.59% -1.07%
Cash & Equivalents $142.3M $157.6M $180.1M
Short-Term Investments
Other Short-Term Assets $10.58M $6.862M $10.72M
YoY Change 86.44% 8.92% 41.11%
Inventory $30.92M $29.38M $26.08M
Prepaid Expenses
Receivables $28.70M $33.01M $28.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $221.9M $233.4M $252.0M
YoY Change 0.79% -0.34% -0.23%
LONG-TERM ASSETS
Property, Plant & Equipment $20.02M $20.23M $20.36M
YoY Change -1.54% -6.99% -10.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.185M $11.76M $11.99M
YoY Change -8.69% 32.83% 313.48%
Total Long-Term Assets $38.33M $43.63M $46.07M
YoY Change -4.05% 9.99% 30.5%
TOTAL ASSETS
Total Short-Term Assets $221.9M $233.4M $252.0M
Total Long-Term Assets $38.33M $43.63M $46.07M
Total Assets $260.2M $277.0M $298.1M
YoY Change 0.05% 1.16% 3.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.67M $16.85M $9.252M
YoY Change 142.03% 123.96% 21.74%
Accrued Expenses $18.89M $15.94M $18.43M
YoY Change -2.24% -12.93% 30.1%
Deferred Revenue $23.37M $16.28M $13.88M
YoY Change 87.46% 47.49% 38.49%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $8.056M
YoY Change
Total Short-Term Liabilities $83.20M $76.73M $79.62M
YoY Change 40.63% 44.8% 61.84%
LONG-TERM LIABILITIES
Long-Term Debt $58.63M $58.51M $49.28M
YoY Change 2.54% 2.46% -13.54%
Other Long-Term Liabilities $1.586M $2.035M $2.831M
YoY Change -36.96% -19.02% 147.03%
Total Long-Term Liabilities $60.22M $60.54M $52.11M
YoY Change 0.87% 1.56% 4447.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $83.20M $76.73M $79.62M
Total Long-Term Liabilities $60.22M $60.54M $52.11M
Total Liabilities $156.0M $152.2M $150.6M
YoY Change 9.56% 12.91% 21.93%
SHAREHOLDERS EQUITY
Retained Earnings -$816.6M -$790.5M -$762.9M
YoY Change 15.01% 15.44%
Common Stock $920.9M $915.4M $910.4M
YoY Change 11.25% 11.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $104.3M $124.8M $147.5M
YoY Change
Total Liabilities & Shareholders Equity $260.2M $277.0M $298.1M
YoY Change 0.05% 1.16% 3.54%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$26.11M -$27.63M -$25.77M
YoY Change 3.35% -10.79% -3.62%
Depreciation, Depletion And Amortization $1.000M $1.200M $1.200M
YoY Change -33.33% -25.0% -20.0%
Cash From Operating Activities -$14.38M -$21.95M -$32.40M
YoY Change -10.57% 56.75% 23.16%
INVESTING ACTIVITIES
Capital Expenditures -$950.0K -$1.448M $1.218M
YoY Change 250.55% 535.09% 262.5%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$950.0K -$1.448M -$1.218M
YoY Change 250.55% 535.09% 262.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.000K 929.0K -$1.548M
YoY Change -101.33% -208.65% -102.98%
NET CHANGE
Cash From Operating Activities -14.38M -21.95M -$32.40M
Cash From Investing Activities -950.0K -1.448M -$1.218M
Cash From Financing Activities 9.000K 929.0K -$1.548M
Net Change In Cash -15.32M -22.47M -$35.15M
YoY Change -10.03% 48.94% -238.94%
FREE CASH FLOW
Cash From Operating Activities -$14.38M -$21.95M -$32.40M
Capital Expenditures -$950.0K -$1.448M $1.218M
Free Cash Flow -$13.43M -$20.50M -$33.62M
YoY Change -15.05% 48.83% 26.18%

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us-gaap Share Based Compensation
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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Depreciation
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vray Class Of Warrant Or Right Exercised
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
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CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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CY2021Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
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CY2021Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
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CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
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CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
5484000 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
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CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
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CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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CY2021Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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CY2021Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
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CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
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CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
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CY2021Q2 us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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vray Class Of Warrant Or Right Exercised
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CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
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CY2022Q2 vray Share Based Compensation Arrangement By Share Based Payment Award Number Of Equity Plans
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
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6300000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
1501304 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2021Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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14949000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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5203000 usd
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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StockIssuedDuringPeriodSharesStockOptionsExercised
24208 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.76
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6912414 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.96
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y8M12D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1228000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
6289250 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.13
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y6M
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1008000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
6866646 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
6.99
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y8M12D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1201000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.20
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1600000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y1M6D
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3700000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3400000 usd
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18314634 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18314634 shares
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18410141 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18410141 shares
CY2022Q2 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
1816000 usd
CY2021Q2 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0 usd
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
1816000 usd
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0 usd

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