2022 Q4 Form 10-Q Financial Statement

#000162828022027622 Filed on November 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $34.69M $26.49M
YoY Change 70.16% 38.13%
Cost Of Revenue $30.29M $22.04M
YoY Change 47.04% 27.5%
Gross Profit $4.406M $4.454M
YoY Change -2208.13% 135.16%
Gross Profit Margin 12.7% 16.81%
Selling, General & Admin $22.30M $20.27M
YoY Change 11.95% 20.55%
% of Gross Profit 506.2% 455.1%
Research & Development $8.050M $8.100M
YoY Change -11.21% -3.23%
% of Gross Profit 182.71% 181.86%
Depreciation & Amortization $1.143M $1.000M
YoY Change -14.7% -33.33%
% of Gross Profit 25.94% 22.45%
Operating Expenses $30.35M $28.37M
YoY Change 4.71% 12.65%
Operating Profit -$25.95M -$23.92M
YoY Change -11.13% 2.68%
Interest Expense -$1.234M $1.509M
YoY Change 16.64% 42.22%
% of Operating Profit
Other Income/Expense, Net -$635.0K -$1.222M
YoY Change -119.92% 33.84%
Pretax Income -$27.82M -$26.11M
YoY Change 2.76% 3.35%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$27.82M -$26.11M
YoY Change 2.76% 3.35%
Net Earnings / Revenue -80.18% -98.55%
Basic Earnings Per Share -$0.14
Diluted Earnings Per Share -$0.15 -$0.14
COMMON SHARES
Basic Shares Outstanding 181.4M shares 181.0M shares
Diluted Shares Outstanding 181.0M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $136.0M $142.3M
YoY Change -37.73% -5.09%
Cash & Equivalents $136.0M $142.3M
Short-Term Investments
Other Short-Term Assets $12.22M $10.58M
YoY Change 33.67% 86.44%
Inventory $31.30M $30.92M
Prepaid Expenses
Receivables $41.38M $28.70M
Other Receivables $0.00 $0.00
Total Short-Term Assets $228.4M $221.9M
YoY Change -19.47% 0.79%
LONG-TERM ASSETS
Property, Plant & Equipment $19.64M $20.02M
YoY Change -2.97% -1.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.88M $7.185M
YoY Change 58.82% -8.69%
Total Long-Term Assets $43.04M $38.33M
YoY Change 12.5% -4.05%
TOTAL ASSETS
Total Short-Term Assets $228.4M $221.9M
Total Long-Term Assets $43.04M $38.33M
Total Assets $271.4M $260.2M
YoY Change -15.66% 0.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.30M $19.67M
YoY Change 207.64% 142.03%
Accrued Expenses $24.68M $18.89M
YoY Change -7.05% -2.24%
Deferred Revenue $24.73M $23.37M
YoY Change 77.69% 87.46%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $96.58M $83.20M
YoY Change 26.68% 40.63%
LONG-TERM LIABILITIES
Long-Term Debt $73.34M $58.63M
YoY Change 35.74% 2.54%
Other Long-Term Liabilities $1.782M $1.586M
YoY Change -32.68% -36.96%
Total Long-Term Liabilities $75.12M $60.22M
YoY Change 32.54% 0.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $96.58M $83.20M
Total Long-Term Liabilities $75.12M $60.22M
Total Liabilities $189.2M $156.0M
YoY Change 24.43% 9.56%
SHAREHOLDERS EQUITY
Retained Earnings -$844.5M -$816.6M
YoY Change 14.56% 15.01%
Common Stock $926.7M $920.9M
YoY Change 2.18% 11.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $82.24M $104.3M
YoY Change
Total Liabilities & Shareholders Equity $271.4M $260.2M
YoY Change -15.66% 0.05%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$27.82M -$26.11M
YoY Change 2.76% 3.35%
Depreciation, Depletion And Amortization $1.143M $1.000M
YoY Change -14.7% -33.33%
Cash From Operating Activities -$23.00M -$14.38M
YoY Change 303.33% -10.57%
INVESTING ACTIVITIES
Capital Expenditures $282.0K -$950.0K
YoY Change -139.17% 250.55%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$282.0K -$950.0K
YoY Change -60.83% 250.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 18.90M 9.000K
YoY Change -74.75% -101.33%
NET CHANGE
Cash From Operating Activities -23.00M -14.38M
Cash From Investing Activities -282.0K -950.0K
Cash From Financing Activities 18.90M 9.000K
Net Change In Cash -4.377M -15.32M
YoY Change -106.39% -10.03%
FREE CASH FLOW
Cash From Operating Activities -$23.00M -$14.38M
Capital Expenditures $282.0K -$950.0K
Free Cash Flow -$23.28M -$13.43M
YoY Change 367.28% -15.05%

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CY2021Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Fair Value Adjustment Of Warrants
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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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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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us-gaap Increase Decrease In Contract With Customer Liability
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
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CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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CY2021Q3 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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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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1910000 usd
CY2021Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
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CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
6795000 usd
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
4864000 usd
CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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CY2021Q3 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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CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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CY2021Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
10088000 usd
CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
3123000 usd
CY2021Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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vray Long Term Trade Credit Maintenance Services Term
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CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
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CY2021Q3 us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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us-gaap Allocated Share Based Compensation Expense
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CY2022Q3 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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3700000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
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CY2022Q3 vray Share Based Compensation Arrangement By Share Based Payment Award Number Of Equity Plans
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfEquityPlans
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
6300000 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
1501304 shares
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
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5536000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
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4634000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.97
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5203000 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 Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
27460 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.75
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
331784 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.95
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y6M
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2277000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
6362900 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.12
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y4M24D
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1837000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
6765944 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
6.97
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y6M
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
2230000 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 Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
900000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y1M6D
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18488170 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17513727 shares
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3800000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3400000 usd
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18488170 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17513727 shares
CY2022Q3 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0 usd
CY2021Q3 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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