2023 Q2 Form 10-Q Financial Statement

#000162828023017657 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $22.53M
YoY Change 19.38%
Cost Of Revenue $23.96M
YoY Change 27.59%
Gross Profit -$1.430M
YoY Change -1621.28%
Gross Profit Margin -6.35%
Selling, General & Admin $19.57M
YoY Change -0.63%
% of Gross Profit
Research & Development $8.628M
YoY Change 9.63%
% of Gross Profit
Depreciation & Amortization $1.000M
YoY Change -16.67%
% of Gross Profit
Operating Expenses $28.20M
YoY Change 2.3%
Operating Profit -$29.60M
YoY Change 7.64%
Interest Expense $2.626M
YoY Change 146.8%
% of Operating Profit
Other Income/Expense, Net $2.057M
YoY Change -25.44%
Pretax Income -$28.86M
YoY Change 11.97%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$28.86M
YoY Change 11.97%
Net Earnings / Revenue -128.07%
Basic Earnings Per Share -$0.16
Diluted Earnings Per Share -$0.16
COMMON SHARES
Basic Shares Outstanding 183.4M shares 181.8M shares
Diluted Shares Outstanding 182.3M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $81.29M
YoY Change -54.85%
Cash & Equivalents $81.30M
Short-Term Investments
Other Short-Term Assets $13.81M
YoY Change 28.8%
Inventory $42.19M
Prepaid Expenses
Receivables $47.53M
Other Receivables $0.00
Total Short-Term Assets $193.6M
YoY Change -23.19%
LONG-TERM ASSETS
Property, Plant & Equipment $19.04M
YoY Change -6.47%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.87M
YoY Change -9.32%
Total Long-Term Assets $39.59M
YoY Change -14.06%
TOTAL ASSETS
Total Short-Term Assets $193.6M
Total Long-Term Assets $39.59M
Total Assets $233.2M
YoY Change -21.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.22M
YoY Change 172.55%
Accrued Expenses $20.76M
YoY Change 12.66%
Deferred Revenue $23.95M
YoY Change 72.56%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $73.48M
YoY Change 812.15%
Total Short-Term Liabilities $166.8M
YoY Change 109.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change -100.0%
Other Long-Term Liabilities $2.066M
YoY Change -27.02%
Total Long-Term Liabilities $2.066M
YoY Change -96.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $166.8M
Total Long-Term Liabilities $2.066M
Total Liabilities $177.9M
YoY Change 18.14%
SHAREHOLDERS EQUITY
Retained Earnings -$873.3M
YoY Change 14.47%
Common Stock $928.6M
YoY Change 2.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $55.26M
YoY Change
Total Liabilities & Shareholders Equity $233.2M
YoY Change -21.78%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$28.86M
YoY Change 11.97%
Depreciation, Depletion And Amortization $1.000M
YoY Change -16.67%
Cash From Operating Activities -$53.60M
YoY Change 65.43%
INVESTING ACTIVITIES
Capital Expenditures $1.177M
YoY Change -3.37%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.177M
YoY Change -3.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$2.185M
YoY Change 41.15%
NET CHANGE
Cash From Operating Activities -$53.60M
Cash From Investing Activities -$1.177M
Cash From Financing Activities -$2.185M
Net Change In Cash -$56.96M
YoY Change 62.05%
FREE CASH FLOW
Cash From Operating Activities -$53.60M
Capital Expenditures $1.177M
Free Cash Flow -$54.78M
YoY Change 62.94%

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288000 usd
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CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
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FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
6795000 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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1944000 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
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CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
2234000 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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CY2023Q1 us-gaap Purchase Obligation
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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22534000 usd
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CY2023Q1 vray Long Term Trade Credit Maintenance Services Term
LongTermTradeCreditMaintenanceServicesTerm
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8900000 usd
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9000000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
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700000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
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300000 usd
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
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6500000 usd
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
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4500000 usd
CY2023Q1 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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CY2023Q1 vray Class Of Warrant Or Right Exercised
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CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
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CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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2800000 usd
CY2023Q1 vray Share Based Compensation Arrangement By Share Based Payment Award Number Of Plans
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfPlans
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
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1501304 shares
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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3337000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5032000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.97
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3307000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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224741 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.28
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.16
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1530000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.30
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
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CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1267000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
7.17
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1510000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
200000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0
CY2023Q1 us-gaap Income Tax Expense Benefit
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CY2023Q1 us-gaap Unrecognized Tax Benefits
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4000000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
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3900000 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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0 usd
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18453952 shares

Files In Submission

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exhibit106midcap-vrayxstan.htm Edgar Link pending
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vray-20230331_htm.xml Edgar Link completed