2024 Q3 Form 10-Q Financial Statement

#000143774924026474 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $3.695M $4.449M
YoY Change 27.63% -47.47%
Cost Of Revenue $3.848M $1.546M
YoY Change 2572.22% 128.36%
Gross Profit -$153.0K $2.903M
YoY Change -105.56% -62.75%
Gross Profit Margin -4.14% 65.25%
Selling, General & Admin $16.21M $12.60M
YoY Change 178.58% 79.93%
% of Gross Profit 434.17%
Research & Development $10.95M $10.52M
YoY Change -10.99% 41.54%
% of Gross Profit 362.42%
Depreciation & Amortization $1.617M $1.562M
YoY Change 2595.0% 1852.5%
% of Gross Profit 53.81%
Operating Expenses $27.15M $23.13M
YoY Change 49.89% 60.17%
Operating Profit -$27.31M -$23.80M
YoY Change 77.73% 258.09%
Interest Expense -$1.173M $3.940M
YoY Change -420.49% 1900.0%
% of Operating Profit
Other Income/Expense, Net -$5.919M $3.940M
YoY Change -495.66% 164.96%
Pretax Income -$33.23M -$19.86M
YoY Change 139.58% 284.94%
Income Tax $0.00 $70.00K
% Of Pretax Income
Net Earnings -$33.23M -$19.93M
YoY Change 136.56% 291.92%
Net Earnings / Revenue -899.19% -447.85%
Basic Earnings Per Share -$0.69 -$0.48
Diluted Earnings Per Share -$0.70 -$0.48
COMMON SHARES
Basic Shares Outstanding 52.62M 41.85M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $89.38M $49.26M
YoY Change 7.76% -43.31%
Cash & Equivalents $54.04M $39.26M
Short-Term Investments $35.34M $9.998M
Other Short-Term Assets $2.276M $2.686M
YoY Change -94.79% 34.3%
Inventory
Prepaid Expenses
Receivables $7.790M $8.947M
Other Receivables $0.00 $0.00
Total Short-Term Assets $99.44M $60.89M
YoY Change -27.42% -41.13%
LONG-TERM ASSETS
Property, Plant & Equipment $607.0K $678.0K
YoY Change -5.45% -1.6%
Goodwill $4.700M $4.700M
YoY Change
Intangibles $70.61M $66.15M
YoY Change
Long-Term Investments $6.105M
YoY Change
Other Assets $512.0K $875.0K
YoY Change 245.95% 1550.94%
Total Long-Term Assets $92.11M $83.52M
YoY Change 4577.96% 3894.12%
TOTAL ASSETS
Total Short-Term Assets $99.44M $60.89M
Total Long-Term Assets $92.11M $83.52M
Total Assets $191.6M $144.4M
YoY Change 37.82% 36.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.46M $20.45M
YoY Change 86.75% 94.78%
Accrued Expenses $540.0K $596.0K
YoY Change 35.0% 19.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $34.48M $30.45M
YoY Change 58.8% 66.83%
LONG-TERM LIABILITIES
Long-Term Debt $58.90M $58.33M
YoY Change 51.81% 359.28%
Other Long-Term Liabilities $5.521M $6.638M
YoY Change 1214.52% 1994.01%
Total Long-Term Liabilities $64.43M $64.97M
YoY Change 15239.29% 20394.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $34.48M $30.45M
Total Long-Term Liabilities $64.43M $64.97M
Total Liabilities $121.8M $111.9M
YoY Change 70.29% 202.36%
SHAREHOLDERS EQUITY
Retained Earnings -$469.6M -$436.3M
YoY Change 38.33% 34.07%
Common Stock $550.4M $479.4M
YoY Change 31.63% 18.32%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.98M $10.98M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $69.77M $32.48M
YoY Change
Total Liabilities & Shareholders Equity $191.6M $144.4M
YoY Change 37.82% 36.86%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$33.23M -$19.93M
YoY Change 136.56% 291.92%
Depreciation, Depletion And Amortization $1.617M $1.562M
YoY Change 2595.0% 1852.5%
Cash From Operating Activities -$18.14M -$19.11M
YoY Change 291.81% 119.64%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$31.35M -$129.0K
YoY Change -29.19% -100.38%
Cash From Investing Activities -$31.35M -$129.0K
YoY Change -29.48% -100.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 64.77M 15.33M
YoY Change 146.63% 1513.68%
NET CHANGE
Cash From Operating Activities -18.14M -19.11M
Cash From Investing Activities -31.35M -129.0K
Cash From Financing Activities 64.77M 15.33M
Net Change In Cash 15.27M -3.908M
YoY Change -166.89% -114.86%
FREE CASH FLOW
Cash From Operating Activities -$18.14M -$19.11M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$18.14M -$19.11M
YoY Change 277.94% 119.14%

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us-gaap Paid In Kind Interest
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us-gaap Depreciation Depletion And Amortization
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2024Q1 zvra Common Stock Registered Shares
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CY2021Q4 srt Stock Repurchase Program Authorized Amount1
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us-gaap Use Of Estimates
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<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 unaudited condensed consolidated 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 investments and the fair value of the warrant liabilities, contingent value right ("CVR") liabilities and discount and rebate liabilities, 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> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p>
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284000 usd
us-gaap Short Term Lease Payments
ShortTermLeasePayments
118000 usd
us-gaap Short Term Lease Payments
ShortTermLeasePayments
110000 usd
us-gaap Variable Lease Payment
VariableLeasePayment
13000 usd
us-gaap Variable Lease Payment
VariableLeasePayment
26000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
419000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2024Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
125000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
149000 usd
CY2024Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
0 usd
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
0 usd
CY2024Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
0 usd
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
0 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
0 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
0 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
911000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
790000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
911000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
790000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
596000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
543000 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
544000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
456000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1140000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
999000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y
CY2024Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P14Y3M18D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.085 pure
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.076 pure
CY2024Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
332000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
532000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
141000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
130000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
154000 usd
CY2024Q2 zvra Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
0 usd
CY2024Q2 zvra Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
39000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1328000 usd
CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
-0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
188000 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
0 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1140000 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
575000 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
278000 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther
11000 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
9376000 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
35000 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets
209000 usd
CY2023Q4 zvra Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Approved Product Olpruva
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedApprovedProductOlpruva
68000000 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
2000000 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
85185000 usd
CY2023Q4 zvra Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Accounts Payable And Accrued Expenses
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccountsPayableAndAccruedExpenses
10881000 usd
CY2023Q4 zvra Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Collaboration Funding
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredCollaborationFunding
1500000 usd
CY2023Q4 zvra Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Operating Lease Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseLiabilities
175000 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
12556000 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
72629000 usd
CY2024Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
8470000 usd
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
11646000 usd
CY2024Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-8211000 usd
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-28863000 usd
CY2024Q2 us-gaap Goodwill
Goodwill
4700000 usd
CY2024Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
2000000 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1500000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3100000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
6200000 usd

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