7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 
      
    		                   
      cash flows from operating activities
    		                   
      net income
    		-47,229,000 -47,973,000 -59,413,000 -74,912,000 -64,602,000 -79,345,000 -68,357,000 -98,651,000 -62,199,000 -67,170,000 -11,218,000 -61,239,612 -44,823,212 -41,438,516 -39,632,311 -33,976,136 -34,882,677 -32,284,209 -29,259,970 
      adjustments to reconcile net income to net cash from operating activities:
    		                   
      stock-based compensation expense
    		23,103,000 24,611,000 23,308,000 21,986,000 21,660,000 21,382,000 20,190,000 18,915,000 14,840,000 15,922,000 12,943,000 10,768,490 9,197,661 10,161,678 7,598,329 5,888,824 5,725,217 5,456,242 3,731,097 
      amortization of intangible asset
    		1,607,000 1,589,000 1,572,000 1,607,000 1,606,000 1,590,000 1,589,000 1,607,000 1,607,000 1,589,000 1,572,000 1,606,789 1,606,789       
      amortization of debt discount
    		158,000 317,000 667,000 708,000 672,000 641,000 619,000 454,000 627,000 909,000 584,000 345,727 453,929 459,879 223,143 225,153 291,110 284,657 276,095 
      loss on debt extinguishment
    		0                   
      depreciation
    		120,000 120,000 149,000 129,000 131,000 140,000 132,000 133,000 136,000 100,000 90,000 85,333 73,677 67,794 36,636 31,045 27,230 9,749 8,326 
      loss in fair value of contingent consideration
    		   10,985,000 16,391,000               
      gain from lease modification
    		0 0 -2,250,000                 
      non-cash lease expense
    		817,000 823,000 609,000 346,000 341,000 341,000 360,000 335,000 343,000           
      right-of-use asset amortization for finance lease
    		684,000 537,000 412,000 337,000 324,000 263,000 110,000             
      change in operating lease liability
    		-182,000 -399,000 208,000 -187,000 -181,000 -163,000 109,000 213,000 240,000 18,000 -317,000 -352,464 -292,244 -258,128 -214,807 -259,441 -290,588 -355,751 -275,840 
      changes in operating assets and liabilities:
    		                   
      accounts receivable
    		2,318,000 -37,428,000 -19,396,000 -17,905,000 -3,754,000 -18,907,000 -6,615,000 -16,405,000 -11,005,000 -22,617,000 -7,094,000 -17,396,646 -4,134,295       
      inventories
    		-4,994,000 -1,777,000 -249,000 -1,129,000 1,288,000 690,000 -105,000 -4,888,000 1,664,000 -1,312,000 -3,620,000 -1,322,316 -285,854       
      prepaid expenses and other current assets
    		-3,451,000 -331,000 -4,029,000 1,433,000 -1,603,000 224,000 -3,917,000 -1,317,000 -888,000 -710,000 -2,420,000 -323,152 -1,207,737 872,368 -2,076,858 356,016 34,502 -60,498 -226,933 
      non-current inventory and other assets
    		-1,936,000 -2,268,000 -955,000 -3,014,000 860,000 -162,000 -867,000 3,093,000 1,142,000 260,000 -801,000 -3,217,009        
      accounts payable
    		-37,401,000 5,969,000 13,662,000 7,744,000 2,913,000 7,549,000 13,112,000 11,581,000 -13,860,000 7,188,000 -2,835,000 25,760,683 -6,586,332 6,835,849 -554,217 -232,352 1,769,685 -3,009,721 1,117,695 
      accrued expenses and other current liabilities
    		54,247,000 21,504,000 818,000 25,670,000 5,323,000 33,487,000 -8,415,000 11,361,000 13,985,000 3,963,000 7,143,000 13,196,054 23,541,437 5,493,100 1,692,042 -1,149,992 282,341 4,298,305 -2,848,723 
      net cash from operating activities
    		1,046,000 -32,423,000 -43,375,000 -26,202,000 -18,631,000 -30,110,000 -53,467,000 -30,362,000 -53,548,000 -55,349,000 -5,821,000 -27,563,242 -22,757,920 -33,536,656 -32,652,980 -28,840,519 -26,776,203 -25,393,553 -27,215,489 
      capex
    		-58,000 -13,000 -338,000 -30,000 -90,000 -52,000 -98,000 -7,000 -371,000 -133,000 -71,000 -180,858 -66,056 -241,459 -213,736 0 -258,677 -18,877 -29,995 
      free cash flows
    		988,000 -32,436,000 -43,713,000 -26,232,000 -18,721,000 -30,162,000 -53,565,000 -30,369,000 -53,919,000 -55,482,000 -5,892,000 -27,744,100 -22,823,976 -33,778,115 -32,866,716 -28,840,519 -27,034,880 -25,412,430 -27,245,484 
      cash flows from investing activities
    		                   
      purchases of equipment
    		-58,000 -13,000 -338,000 -30,000 -90,000 -52,000 -98,000 -7,000 -371,000 -133,000 -71,000 -180,858 -66,056 -241,459 -213,736 0 -258,677 -18,877 -29,995 
      net cash from investing activities
    		-58,000 -13,000 -338,000 -30,000 -90,000 -52,000 -98,000 -7,000 -371,000 -133,000 -71,000 -180,858 -66,056 -53,241,459 -213,736 0 -258,677 -18,877 -29,995 
      cash flows from financing activities
    		                   
      proceeds from draw down of debt
    		70,000,000       0 0 30,000,000 55,000,000 0 0       
      payment of debt issuance costs
    		0       855,000 -856,000 -224,000 -1,217,000 0 0       
      repayment of debt
    		-70,000,000                   
      payments on principal portion of finance lease obligation
    		-664,000 -518,000 -401,000 -330,000 -311,000 -186,000 -163,000             
      proceeds from issuance of common stock upon financing
    		9,946,000 32,633,000 19,650,000 16,419,000 13,101,000   0 33,750,000   0 174,984,808 30,794,647 31,008,601 0 0 1,096,503 6,115,864 
      cash paid for common stock issuance costs
    		-189,000 -517,000 -393,000 -329,000 -262,000   0 -2,046,000           
      proceeds from issuance of common stock upon exercise of options and under employee stock purchase plan
    		15,524,000   1,148,000 20,290,000               
      payment of contingent consideration
    		-2,507,000 -2,203,000 -2,285,000 -2,131,000 -1,940,000 -1,888,000 -1,907,000 -1,722,000 -1,440,000 -1,311,000 -1,738,000 -1,600,350        
      payments of tax withholdings on stock awards
    		-842,000 -888,000 -4,336,000 -533,000                
      net cash from financing activities
    		21,268,000 34,542,000 29,270,000 14,244,000 30,405,000 14,378,000 -1,187,000 -2,000 33,370,000 246,080,000 51,565,000 1,065,837 176,949,554 75,464,973 31,101,644 690,480 438,683 1,971,388 8,029,163 
      net increase in cash
    		   -11,988,000 11,684,000 -15,784,000 -54,752,000 -30,371,000 -20,549,000 190,598,000 45,673,000 -26,678,263 154,125,578 -11,313,142 -1,765,072 -28,150,039 -26,596,197 -23,441,042 -19,216,321 
      cash at beginning of period
    		0 0 315,353,000 0 0 0 386,193,000    200,842,000 0 0 0 86,472,854 0 0 0 183,876,453 
      cash at end of period
    		22,256,000 2,106,000 300,910,000 -11,988,000 11,684,000 -15,784,000 331,441,000    246,515,000 -26,678,263 154,125,578 -11,313,142 84,707,782 -28,150,039 -26,596,197 -23,441,042 164,660,132 
      supplemental disclosures of cash flow information:
    		                   
      interest paid
    		3,217,000 3,769,000 4,590,000 4,755,000 5,024,000 5,008,000 4,903,000 4,868,000 4,730,000 3,916,000 3,216,000 2,569,486 2,530,431 1,467,625 1,118,750 1,143,125 1,169,166 1,169,167 1,143,750 
      operating lease right-of-use asset obtained in exchange for operating lease liability
    		0 0 23,869,000     38,000 0 7,203,000 561,000 0 0 0 561,380     
      finance lease right-of-use asset obtained in exchange for finance lease liability
    		2,035,000 828,000 1,532,000 465,000 318,000 2,080,000 2,492,000             
      decrease in operating lease right-of-use asset due to lease modification
    		0 0 5,349,000                 
      decrease in operating lease liability due to lease modification
    		0 0 7,599,000                 
      trade receivables
    		-2,789,000 42,459,000 176,178,000  4,864,000 18,412,000 115,119,000             
      less: reserves for variable consideration
    		471,000 -5,032,000 -14,780,000  -1,110,000 496,000 -13,685,000             
      gain in fair value of contingent consideration
    		 -8,102,000 1,512,000    -1,412,000    -162,000  -42,120       
      net decrease in cash
    		 2,106,000 -14,443,000                 
      proceeds from issuance of common stock upon exercise of options
    		  17,035,000    2,501,000 1,145,000 4,317,000 6,570,000 387,000 2,828,863 3,064,261 176,412 181,637 1,091,523 438,683 958,895 1,913,299 
      ​
    		                   
      cash paid for business combination
    		           0 0       
      supplemental disclosures of non-cash investing activity:
    		                   
      fair value of contingent consideration in a business combination
    		       41,485,000 -1,620,000   2,600,000 -880,407       
      supplemental disclosures of non-cash financing activity:
    		                   
      issuance of warrants in connection with debt financing
    		                   
      cash at settlement
    		          53,000,000 0 0       
      fair value of contingent consideration
    		          36,140,000 0 -407       
      total
    		          89,140,000 0 -407 78,153,185 10,987,222  282,341 4,298,305 5,864,526 
      payments of tax withholdings on stock award
    		     -1,328,000 -1,618,000 -280,000 -355,000 -333,000 -867,000 -162,676 -261,635 -18,926 -88,594 -91,703 0   
      supplemental non-cash investing activities:
    		                   
      cash and cash equivalents at beginning of period
    		        0           
      cash and cash equivalents at end of period
    		        -20,549,000           
      amortization of operating lease right-of-use asset
    		          314,000 324,531 283,014 278,897 275,063 276,364 272,512 267,673 262,764 
      non-cash research and development license expense
    		                   
      loss on extinguishment of debt
    		                   
      repayment of principal on term loan
    		                   
      other assets
    		               0    
      accrued research and development
    		              2,726,847  -232,342 1,011,666 1,183,367 
      accrued compensation
    		              2,013,040  21,676 1,869,121 1,165,548 
      accrued general and administrative
    		              5,856,779  493,007 1,430,226 3,121,653 
      accrued interest
    		              390,556  0 -12,708 393,958 
      proceeds from issuance of term loan
    		                   
      proceeds from issuance of common stock upon exercise of warrants
    		                   
      basic and diluted net income per common share:
    		                   
      weighted-average common shares outstanding—basic and diluted
    		                   
      net income per common share—basic and diluted
    		                   
      payment of debt financing costs
    		                   
      common stock issued in connection with license agreement with pfizer, inc.
    		                   
      change in fair value of warrants
    		                   
      note 1.
    		                   
      establishment of warrant liabilities in connection with common stock issuance
    		                   
      ·
    		                   
      amortization of debt (premium) discount
    		                   
      amortization of debt issuance costs
    		                   
      non-cash interest expense
    		                   
      change in fair value of warrant and embedded derivative liabilities
    		                   
      accrued expenses
    		                   
      proceeds from issuance of convertible notes
    		                   
      debt issuance costs
    		                   
      deferred financing fees
    		                   
      proceeds from initial public offering
    		                   
      receipt of subscription receivable
    		                   
      payment of loan from related party
    		                   
      warrants issued to placement agent for offering costs
    		                   
      conversion of convertible notes to common stock
    		                   
      expected volatility based on comparable public companies
    		                   
      estimated fair value of the common stock
    		                   
      remaining contractual term
    		                   
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.