2022 Q1 Form 10-Q Financial Statement

#000143774922012182 Filed on May 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $3.965M $12.12M
YoY Change -67.28% 480.04%
Cost Of Revenue $8.000K
YoY Change
Gross Profit $3.957M
YoY Change
Gross Profit Margin 99.8%
Selling, General & Admin $2.734M $1.890M
YoY Change 44.66% -29.21%
% of Gross Profit 69.09%
Research & Development $3.082M $2.265M
YoY Change 36.07% 6.54%
% of Gross Profit 77.89%
Depreciation & Amortization $65.00K $64.00K
YoY Change 1.56% -11.11%
% of Gross Profit 1.64%
Operating Expenses $3.082M $2.265M
YoY Change 36.07% 6.54%
Operating Profit -$1.859M $6.960M
YoY Change -126.71% -284.37%
Interest Expense $5.000K $199.0K
YoY Change -97.49% -84.21%
% of Operating Profit 2.86%
Other Income/Expense, Net -$9.000K -$17.26M
YoY Change -99.95% 771.96%
Pretax Income -$1.868M -$10.30M
YoY Change -81.86% 78.94%
Income Tax -$4.000K $0.00
% Of Pretax Income
Net Earnings -$1.864M -$10.30M
YoY Change -81.9% 78.94%
Net Earnings / Revenue -47.01% -84.97%
Basic Earnings Per Share -$0.05 -$2.49
Diluted Earnings Per Share -$54.02K -$2.49
COMMON SHARES
Basic Shares Outstanding 34.51M 19.15M
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $101.6M $75.90M
YoY Change 33.83% 3062.5%
Cash & Equivalents $100.2M $75.92M
Short-Term Investments $1.338M
Other Short-Term Assets $880.0K $500.0K
YoY Change 76.0% -44.44%
Inventory
Prepaid Expenses
Receivables $3.320M $11.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $105.8M $87.73M
YoY Change 20.58% 1491.89%
LONG-TERM ASSETS
Property, Plant & Equipment $835.0K $975.0K
YoY Change -14.36% -19.42%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $17.56M
YoY Change
Other Assets $437.0K $437.0K
YoY Change 0.0% -17.08%
Total Long-Term Assets $19.93M $2.706M
YoY Change 636.36% -19.8%
TOTAL ASSETS
Total Short-Term Assets $105.8M $87.73M
Total Long-Term Assets $19.93M $2.706M
Total Assets $125.7M $90.44M
YoY Change 39.0% 917.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.582M $2.900M
YoY Change -10.97% -54.69%
Accrued Expenses $356.0K $300.0K
YoY Change 18.67% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.000K $800.0K
YoY Change -99.13% -98.84%
Total Short-Term Liabilities $2.945M $4.238M
YoY Change -30.51% -94.39%
LONG-TERM LIABILITIES
Long-Term Debt $4.000K $100.0K
YoY Change -96.0% 0.0%
Other Long-Term Liabilities $29.00K $14.00K
YoY Change 107.14% -88.43%
Total Long-Term Liabilities $29.00K $14.00K
YoY Change 107.14% -88.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.945M $4.238M
Total Long-Term Liabilities $29.00K $14.00K
Total Liabilities $4.207M $6.184M
YoY Change -31.97% -92.03%
SHAREHOLDERS EQUITY
Retained Earnings -$268.9M -$268.8M
YoY Change 0.05% 6.88%
Common Stock $397.9M $353.0M
YoY Change 12.72% 93.13%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.536M
YoY Change
Treasury Stock Shares
Shareholders Equity $121.5M $84.25M
YoY Change
Total Liabilities & Shareholders Equity $125.7M $90.44M
YoY Change 39.0% 917.84%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$1.864M -$10.30M
YoY Change -81.9% 78.94%
Depreciation, Depletion And Amortization $65.00K $64.00K
YoY Change 1.56% -11.11%
Cash From Operating Activities -$3.485M -$2.586M
YoY Change 34.76% 27.89%
INVESTING ACTIVITIES
Capital Expenditures $16.00K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$3.832M
YoY Change
Cash From Investing Activities -$3.848M $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.723M $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$4.801M $74.29M
YoY Change -106.46% 7183.33%
NET CHANGE
Cash From Operating Activities -$3.485M -$2.586M
Cash From Investing Activities -$3.848M $0.00
Cash From Financing Activities -$4.801M $74.29M
Net Change In Cash -$12.13M $71.70M
YoY Change -116.92% -7178.38%
FREE CASH FLOW
Cash From Operating Activities -$3.485M -$2.586M
Capital Expenditures $16.00K $0.00
Free Cash Flow -$3.501M -$2.586M
YoY Change 35.38% 27.2%

Facts In Submission

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"/> <p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i><b>Use of Estimates</b></i></p> <p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to revenue recognition, the useful lives of property and equipment, the recoverability of long-lived assets, the incremental borrowing rate for leases, and assumptions used for purposes of determining stock-based compensation, income taxes, the fair value of long-term investments and the fair value of the derivative and warrant liability, among others. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable, the results of which form the basis for making judgments about the carrying value of assets and liabilities.</p>
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CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
306000 USD
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
255000 USD
CY2022Q1 kmph Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Cumulative Effect Adjustment
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityCumulativeEffectAdjustment
222000 USD
CY2021Q1 kmph Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Cumulative Effect Adjustment
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityCumulativeEffectAdjustment
-37000 USD
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
84000 USD
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
292000 USD
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6439369
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9899562
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-1864000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-10296000 USD
CY2022Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
-0 USD
CY2021Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
37444000 USD
CY2022Q1 us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
-1864000 USD
CY2021Q1 us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
-47740000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34507000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19146000
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.49
CY2022Q1 kmph Lessee Lease Option To Extend Maximum Term
LesseeLeaseOptionToExtendMaximumTerm
P5Y
CY2022Q1 kmph Lessee Lease Option To Terminate Term
LesseeLeaseOptionToTerminateTerm
P1Y
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
32000 USD
CY2021Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
32000 USD
CY2022Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1000 USD
CY2021Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
4000 USD
CY2022Q1 kmph Finance Lease Cost Total
FinanceLeaseCostTotal
33000 USD
CY2021Q1 kmph Finance Lease Cost Total
FinanceLeaseCostTotal
36000 USD
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
91000 USD
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
91000 USD
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
50000 USD
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
50000 USD
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
13000 USD
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
13000 USD
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
39000 USD
CY2021Q1 us-gaap Sublease Income
SubleaseIncome
-0 USD
CY2022Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
11000 USD
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
21000 USD
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1090000 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1141000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1500000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1588000 USD
CY2022Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2022Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.143 pure
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.120 pure
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.075 pure
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.075 pure
CY2022Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
5000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
346000 USD
CY2022Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
6000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
472000 USD
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
0 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
484000 USD
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
390000 USD
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
30000 USD
CY2022Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
11000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1722000 USD
CY2022Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
-0 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
222000 USD
CY2022Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
11000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1500000 USD
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
-0 USD
CY2022Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
3832000 USD
CY2021Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
-0 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3848000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 USD
CY2022Q1 kmph Proceeds From Underwritten Public Offering Net
ProceedsFromUnderwrittenPublicOfferingNet
0 USD
CY2021Q1 kmph Proceeds From Underwritten Public Offering Net
ProceedsFromUnderwrittenPublicOfferingNet
49285000 USD
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4723000 USD
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
-0 USD
CY2022Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
68000 USD
CY2021Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1106000 USD
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
10000 USD
CY2021Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
61000 USD
CY2022Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
-0 USD
CY2021Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2881000 USD
CY2022Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
-0 USD
CY2021Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
37924000 USD
CY2022Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 USD
CY2021Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
25593000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4801000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
74290000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-12134000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
71704000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
112346000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4322000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
100212000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
76026000 USD
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
5000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
199000 USD
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 USD
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4000 USD
CY2022Q1 kmph Deferred Offering Costs Included In Accounts Payable And Accrued Expense
DeferredOfferingCostsIncludedInAccountsPayableAndAccruedExpense
0 USD
CY2021Q1 kmph Deferred Offering Costs Included In Accounts Payable And Accrued Expense
DeferredOfferingCostsIncludedInAccountsPayableAndAccruedExpense
17000 USD
CY2022Q1 kmph Warrants Issued
WarrantsIssued
0 USD
CY2021Q1 kmph Warrants Issued
WarrantsIssued
3485000 USD
CY2021Q3 kmph Sale Of Stock Authorized Amount
SaleOfStockAuthorizedAmount
350000000.0 USD
CY2021Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
50000000 USD
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
117000 USD
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
114000 USD
CY2021Q1 us-gaap Variable Lease Payment
VariableLeasePayment
13000 USD
CY2022Q1 us-gaap Short Term Lease Payments
ShortTermLeasePayments
50000 USD
CY2021Q1 us-gaap Short Term Lease Payments
ShortTermLeasePayments
50000 USD
CY2022Q1 us-gaap Variable Lease Payment
VariableLeasePayment
13000 USD
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD

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