2024 Q2 Form 10-Q Financial Statement

#000142528724000101 Filed on May 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $842.4K $1.339M
YoY Change -78.76% -20.91%
Cost Of Revenue $7.301M $7.443M
YoY Change -13.36% 39.69%
Gross Profit -$6.459M -$6.103M
YoY Change 44.79% 67.92%
Gross Profit Margin -766.69% -455.72%
Selling, General & Admin $12.07M $14.10M
YoY Change -13.83% -4.05%
% of Gross Profit
Research & Development $1.993M $3.528M
YoY Change -60.62% -51.17%
% of Gross Profit
Depreciation & Amortization $2.059M $1.961M
YoY Change 175.87% 206.21%
% of Gross Profit
Operating Expenses $14.06M $17.62M
YoY Change -26.25% -19.58%
Operating Profit -$20.52M -$23.73M
YoY Change -12.77% -7.13%
Interest Expense -$5.159M -$5.429M
YoY Change -1120.55% -1086.47%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$26.32M -$29.16M
YoY Change 14.35% 16.63%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$26.32M -$29.20M
YoY Change 14.35% 16.8%
Net Earnings / Revenue -3124.26% -2180.25%
Basic Earnings Per Share -$1.40 -$0.10
Diluted Earnings Per Share -$1.40 -$0.10
COMMON SHARES
Basic Shares Outstanding 375.2M shares 314.8M shares
Diluted Shares Outstanding 18.86M shares 302.6M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.309M $6.728M
YoY Change -91.49% -91.49%
Cash & Equivalents $5.300M $6.700M
Short-Term Investments
Other Short-Term Assets $1.561M $981.3K
YoY Change 88.67% 36.51%
Inventory $46.50M $49.85M
Prepaid Expenses
Receivables $800.0K $1.800M
Other Receivables $0.00 $0.00
Total Short-Term Assets $59.47M $65.64M
YoY Change -52.15% -50.59%
LONG-TERM ASSETS
Property, Plant & Equipment $36.50M $38.54M
YoY Change 16.61% 43.13%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $176.3K $176.3K
YoY Change 0.0% 0.0%
Total Long-Term Assets $45.90M $48.23M
YoY Change -12.79% -0.63%
TOTAL ASSETS
Total Short-Term Assets $59.47M $65.64M
Total Long-Term Assets $45.90M $48.23M
Total Assets $105.4M $113.9M
YoY Change -40.44% -37.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.50M $14.20M
YoY Change 2.65% -1.79%
Accrued Expenses $6.335M $6.652M
YoY Change -85.28% -85.23%
Deferred Revenue $6.955M $4.690M
YoY Change 394.55% 112.46%
Short-Term Debt $9.649M $7.874M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $41.69M $41.40M
YoY Change -28.23% -36.47%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $5.048M $5.048M
YoY Change -55.9% -55.74%
Total Long-Term Liabilities $5.048M $5.048M
YoY Change -55.9% -55.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.69M $41.40M
Total Long-Term Liabilities $5.048M $5.048M
Total Liabilities $46.74M $46.45M
YoY Change -32.79% -39.34%
SHAREHOLDERS EQUITY
Retained Earnings -$807.0M -$780.7M
YoY Change 19.43% 19.63%
Common Stock $20.74K $330.8K
YoY Change -89.89% 83.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $58.64M $67.42M
YoY Change
Total Liabilities & Shareholders Equity $105.4M $113.9M
YoY Change -40.44% -37.22%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$26.32M -$29.20M
YoY Change 14.35% 16.8%
Depreciation, Depletion And Amortization $2.059M $1.961M
YoY Change 175.87% 206.21%
Cash From Operating Activities -$12.10M -$18.00M
YoY Change -63.39% -44.95%
INVESTING ACTIVITIES
Capital Expenditures $733.6K $3.026M
YoY Change -85.53% -44.02%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$733.6K -$3.026M
YoY Change -85.53% -44.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 11.41M -$8.128M
YoY Change -46.64% -145.19%
NET CHANGE
Cash From Operating Activities -12.10M -$18.00M
Cash From Investing Activities -733.6K -$3.026M
Cash From Financing Activities 11.41M -$8.128M
Net Change In Cash -1.420M -$29.12M
YoY Change -91.51% 44.39%
FREE CASH FLOW
Cash From Operating Activities -$12.10M -$18.00M
Capital Expenditures $733.6K $3.026M
Free Cash Flow -$12.83M -$21.03M
YoY Change -66.33% -44.82%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2024Q1 us-gaap Use Of Estimates
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<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, costs and expenses and related disclosures in the accompanying notes.</span></div>
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CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
572340 usd
CY2024Q1 us-gaap Lease Cost
LeaseCost
636681 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
630647 usd
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3942958 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4174800 usd
CY2024Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
5570992 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
5621181 usd
CY2024Q1 wkhs Lease Right Of Use Assets
LeaseRightOfUseAssets
9513950 usd
CY2023Q4 wkhs Lease Right Of Use Assets
LeaseRightOfUseAssets
9795981 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
6061502 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
6292954 usd
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
2402699 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
2548184 usd
CY2024Q1 wkhs Lease Liability
LeaseLiability
8464201 usd
CY2023Q4 wkhs Lease Liability
LeaseLiability
8841138 usd
CY2024Q1 wkhs Lease Liability Current
LeaseLiabilityCurrent
3416636 usd
CY2023Q4 wkhs Lease Liability Current
LeaseLiabilityCurrent
3560612 usd
CY2024Q1 wkhs Lease Liability Noncurrent
LeaseLiabilityNoncurrent
5047565 usd
CY2023Q4 wkhs Lease Liability Noncurrent
LeaseLiabilityNoncurrent
5280526 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
17500000 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3100000 shares
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3370205 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
292429 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.27
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y8M12D
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
292429 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
247023 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
10.27
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y4M24D
CY2022Q1 wkhs Sale Of Stock Authorized Amount
SaleOfStockAuthorizedAmount
175000000 usd
CY2024Q1 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
2700000 usd
CY2024Q1 wkhs Sale Of Stock Remaining Authorized Amount
SaleOfStockRemainingAuthorizedAmount
95600000 usd
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
75000000 shares
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q1 wkhs Number Of Classes Of Stock
NumberOfClassesOfStock
1 class_of_stock
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q1 wkhs Common Stock Number Of Votes On Each Share
CommonStockNumberOfVotesOnEachShare
1 vote
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
450000000 shares
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
1000000 usd
CY2023Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
1000000 usd
CY2024Q1 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
0 usd
CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
0 usd
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

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0001425287-24-000101.txt Edgar Link pending
0001425287-24-000101-xbrl.zip Edgar Link pending
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