$VTAK
Catheter Precision, Inc.

2021 Q3 Form 10-Q Financial Statement

#000156459021057029 Filed on November 15, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q4 2020 Q3
Revenue $5.000K $0.00 $914.0K
YoY Change -99.45% -100.0% -52.1%
Cost Of Revenue $246.0K $426.0K $1.418M
YoY Change -82.65% -75.66% -41.53%
Gross Profit -$241.0K -$426.0K -$500.0K
YoY Change -51.8% 18.33% -3.29%
Gross Profit Margin -4820.0% -54.7%
Selling, General & Admin $4.211M $6.379M $4.695M
YoY Change -10.31% -26.19% -70.45%
% of Gross Profit
Research & Development $2.942M $3.421M $2.312M
YoY Change 27.25% 308.23% 95.6%
% of Gross Profit
Depreciation & Amortization $200.0K $520.0K $400.0K
YoY Change -50.0% 39.04% 0.0%
% of Gross Profit
Operating Expenses $7.153M $9.800M $7.007M
YoY Change 2.08% 3.38% -58.95%
Operating Profit -$7.394M -$10.23M -$7.507M
YoY Change -1.51% 3.92% -57.32%
Interest Expense $14.00K
YoY Change -80.56%
% of Operating Profit
Other Income/Expense, Net $16.00K -$9.000K -$10.00K
YoY Change -260.0% -105.78%
Pretax Income -$7.378M -$10.24M -$7.779M
YoY Change -5.15% 5.13% -55.33%
Income Tax $0.00 $7.000K $0.00
% Of Pretax Income
Net Earnings -$4.298M -$10.44M -$7.779M
YoY Change -44.75% 7.19% -55.34%
Net Earnings / Revenue -85960.0% -851.09%
Basic Earnings Per Share -$33.58
Diluted Earnings Per Share -$670.0K -$3.599M -$3.260M
COMMON SHARES
Basic Shares Outstanding 128.0
Diluted Shares Outstanding 128.0

Balance Sheet

Concept 2021 Q3 2020 Q4 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.62M $23.91M $33.65M
YoY Change -38.73% -21.82% -16.87%
Cash & Equivalents $20.60M $23.91M $33.65M
Short-Term Investments $0.00
Other Short-Term Assets $1.169M $1.258M $466.0K
YoY Change 150.86% -32.37% -57.94%
Inventory $997.0K $877.0K $2.592M
Prepaid Expenses
Receivables $17.00K $24.00K $475.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $22.80M $27.62M $37.18M
YoY Change -38.68% -23.28% -18.2%
LONG-TERM ASSETS
Property, Plant & Equipment $2.030M $2.527M $6.155M
YoY Change -67.02% -49.96% -26.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $45.00K $45.00K $120.0K
YoY Change -62.5% -77.04% -43.66%
Total Long-Term Assets $4.280M $5.818M $6.275M
YoY Change -31.79% -28.0% -26.61%
TOTAL ASSETS
Total Short-Term Assets $22.80M $27.62M $37.18M
Total Long-Term Assets $4.280M $5.818M $6.275M
Total Assets $27.08M $33.44M $43.45M
YoY Change -37.68% -24.14% -19.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $543.0K $471.0K $899.0K
YoY Change -39.6% -69.26% -10.46%
Accrued Expenses $2.632M $4.147M $4.937M
YoY Change -46.69% 56.96% 5.15%
Deferred Revenue $1.801M
YoY Change -11.24%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $301.0K $686.0K $474.0K
YoY Change -36.5% 134.13% 29.51%
Total Short-Term Liabilities $3.476M $7.762M $8.039M
YoY Change -56.76% 13.91% 0.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $1.579M $1.866M
YoY Change -100.0% 495.85% 347.48%
Other Long-Term Liabilities $2.054M $2.950M $3.011M
YoY Change -31.78% -23.42% -22.04%
Total Long-Term Liabilities $2.054M $4.529M $4.877M
YoY Change -57.88% 10.01% 13.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.476M $7.762M $8.039M
Total Long-Term Liabilities $2.054M $4.529M $4.877M
Total Liabilities $5.530M $12.29M $12.92M
YoY Change -57.18% 12.44% 5.34%
SHAREHOLDERS EQUITY
Retained Earnings -$170.0M -$153.2M
YoY Change 30.77%
Common Stock $174.3M
YoY Change 16.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $21.55M $21.15M $30.54M
YoY Change
Total Liabilities & Shareholders Equity $27.08M $33.44M $43.45M
YoY Change -37.68% -24.14% -19.53%

Cashflow Statement

Concept 2021 Q3 2020 Q4 2020 Q3
OPERATING ACTIVITIES
Net Income -$4.298M -$10.44M -$7.779M
YoY Change -44.75% 7.19% -55.34%
Depreciation, Depletion And Amortization $200.0K $520.0K $400.0K
YoY Change -50.0% 39.04% 0.0%
Cash From Operating Activities -$7.215M -$9.414M -$6.047M
YoY Change 19.32% -1.65% -23.01%
INVESTING ACTIVITIES
Capital Expenditures -$148.0K $5.000K -$23.00K
YoY Change 543.48% -110.42% -4.17%
Acquisitions
YoY Change
Other Investing Activities $3.493M $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $3.345M $5.000K -$23.00K
YoY Change -14643.48% -99.95% -100.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.266M -331.0K 10.34M
YoY Change -58.73% 7.47% -11095.74%
NET CHANGE
Cash From Operating Activities -7.215M -9.414M -6.047M
Cash From Investing Activities 3.345M 5.000K -23.00K
Cash From Financing Activities 4.266M -331.0K 10.34M
Net Change In Cash 396.0K -9.740M 4.266M
YoY Change -90.72% -13627.78% 56.55%
FREE CASH FLOW
Cash From Operating Activities -$7.215M -$9.414M -$6.047M
Capital Expenditures -$148.0K $5.000K -$23.00K
Free Cash Flow -$7.067M -$9.419M -$6.024M
YoY Change 17.31% -1.1% -23.07%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:4pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain prior period amounts have been reclassified to conform to the current period presentation.</p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of estimates</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:4pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The unaudited condensed <span style="color:#000000;">financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States (“GAAP”). </span>The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and reported disclosures of contingent liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates. The Company’s financial statements are based upon a number of estimates, including but not limited to, allowance for doubtful accounts, evaluation of impairment of assets, reserves for warranty costs including product recalls, evaluation of probable loss contingencies, fair value of stock option awards granted and revenue recognition for multiple performance obligations. </p>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
214000
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Inventory Current
DisposalGroupIncludingDiscontinuedOperationInventoryCurrent
1341000
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Prepaid And Other Assets Current
DisposalGroupIncludingDiscontinuedOperationPrepaidAndOtherAssetsCurrent
158000
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment Current
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentCurrent
684000
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Other Assets
DisposalGroupIncludingDiscontinuedOperationOtherAssets
78000
CY2020Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
2475000
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Payable Current
DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent
100000
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Accrued Liabilities
DisposalGroupIncludingDiscontinuedOperationAccruedLiabilities
201000
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Deferred Revenue
DisposalGroupIncludingDiscontinuedOperationDeferredRevenue
2487000
CY2020Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
2788000
CY2021Q3 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
489000
CY2020Q3 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
847000
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
2600000
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
2929000
CY2021Q3 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
396000
CY2020Q3 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
851000
us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
2290000
us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
2423000
CY2021Q3 rmed Gros Income Loss From Discontinued Operations
GrosIncomeLossFromDiscontinuedOperations
93000
CY2020Q3 rmed Gros Income Loss From Discontinued Operations
GrosIncomeLossFromDiscontinuedOperations
-4000
rmed Gros Income Loss From Discontinued Operations
GrosIncomeLossFromDiscontinuedOperations
310000
rmed Gros Income Loss From Discontinued Operations
GrosIncomeLossFromDiscontinuedOperations
506000
CY2021Q3 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
464000
CY2020Q3 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
257000
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
1498000
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
1005000
CY2021Q3 rmed Disposal Group Including Discontinued Operation Operating Income Loss Gross
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLossGross
-371000
CY2020Q3 rmed Disposal Group Including Discontinued Operation Operating Income Loss Gross
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLossGross
-261000
rmed Disposal Group Including Discontinued Operation Operating Income Loss Gross
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLossGross
-1188000
rmed Disposal Group Including Discontinued Operation Operating Income Loss Gross
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLossGross
-499000
CY2021Q3 us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
22000
CY2020Q3 us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
3000
us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
94000
us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
24000
CY2021Q3 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-393000
CY2020Q3 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-264000
us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-1282000
us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-523000
CY2021Q3 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
3473000
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
3473000
CY2021Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
3080000
CY2020Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-264000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
2191000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-523000
CY2021Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
884000
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
547000
CY2021Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
60000
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
270000
CY2021Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
53000
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
60000
CY2021Q3 us-gaap Inventory Net
InventoryNet
997000
CY2020Q4 us-gaap Inventory Net
InventoryNet
877000
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4754000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5653000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2724000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3126000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2030000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2527000
CY2021Q3 us-gaap Depreciation
Depreciation
200000
CY2020Q3 us-gaap Depreciation
Depreciation
400000
us-gaap Depreciation
Depreciation
700000
us-gaap Depreciation
Depreciation
1300000
CY2021Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1393000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
957000
CY2021Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
496000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2479000
CY2021Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
195000
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
204000
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
548000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
507000
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2632000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4147000
CY2020 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
53000
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
204000
CY2019Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
234000
CY2020 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
19000
CY2020 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
4000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
9000
CY2021Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
195000
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
204000
CY2020Q3 rmed Amortization For Operating Lease Right Of Use Asset
AmortizationForOperatingLeaseRightOfUseAsset
100000
rmed Amortization For Operating Lease Right Of Use Asset
AmortizationForOperatingLeaseRightOfUseAsset
300000
rmed Amortization For Operating Lease Right Of Use Asset
AmortizationForOperatingLeaseRightOfUseAsset
300000
rmed Operating Lease Number Of Leases
OperatingLeaseNumberOfLeases
2
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y3M18D
CY2021Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.07
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
100000
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
100000
us-gaap Operating Lease Expense
OperatingLeaseExpense
400000
us-gaap Operating Lease Expense
OperatingLeaseExpense
400000
us-gaap Operating Lease Payments
OperatingLeasePayments
400000
us-gaap Operating Lease Payments
OperatingLeasePayments
400000
CY2021Q3 rmed Amortization For Operating Lease Right Of Use Asset
AmortizationForOperatingLeaseRightOfUseAsset
100000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
132000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
432000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
445000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
459000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
472000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
486000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
501000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2927000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
572000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2355000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
872000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1802000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2741000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y10M24D
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
0
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
105000

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