THIS IS LQMT =
WHAT THEY CLAIM THEY DO
We are a materials technology company that develops and commercializes products made from amorphous alloys. ( IS THIS A LIE ? )Our Liquidmetal® family of alloys consists of a variety of proprietary bulk alloys and composites that utilize the advantages offered by amorphous alloy technology. We design, develop, and sell custom products and parts from bulk amorphous alloys to customers in various industries. We also partner with third-party manufacturers and licensees to develop and commercialize Liquidmetal alloy products.
WHAT THEY REALLY DO
Revenue. Total revenue decreased
revenue decreased to $306 for the
period was attributable to lower
development projects, following the Company’s transition to outsourced manufacturing in 2020.
Cost of sales. Cost of sales was $15, or 83% of total revenue, for the three months ended September 30, 2022, a decrease from $319, or 79% of total revenue, for the three months ended September 30, 2021. Cost of sales was $243, or 79% of total revenue, for the nine months ended September 30, 2022, an increase from $528, or 73% of total revenue, for the nine months ended September 30, 2021. The decrease for the three months ended September 30, 2022 and 2021 was attributable to lower products revenue, increase in licensing and royalties revenue, and lower gross profit percentages. The decrease for the nine months ended September 30, 2022 and 2021 was attributable to lower products revenue, decrease in licensing and royalties revenue, and higher gross profit percentages. If we begin increasing our products revenues with shipments of routine, commercial products and parts through third party contract manufacturers, we expect our cost of sales percentages to decrease, stabilize and be more predictable.
Gross profit. Our gross profit decreased to $3 for the three months ended September 30, 2022 from $87 for the three months ended September 30, 2021. Our gross profit as a percentage of total revenue, decreased to 17% for the three months ended September 30, 2022 from 21% for the three months ended September 30, 2021. Our gross profit decreased to $63 for the nine months ended September 30, 2022 from $193 for the nine months ended September 30, 2021. Our gross profit as a percentage of total revenue, decreased to 21% for the nine months ended September 30, 2022 from 27% for the nine months ended September 30, 2021. Early prototype and pre-production orders generally result in a higher cost mix, relative to revenue, than would otherwise be incurred in an on-site production environment, with higher volumes and more established operating processes, or through contract manufacturers. As such, our gross profit percentages have fluctuated and may continue to fluctuate based on volume and quoted production prices per unit and may not be representative of our future business. If we begin increasing our products revenues with shipments of routine, commercial products and parts through future orders to third party contract manufacturers, we expect our gross profit percentages to stabilize, increase, and be more predictable.
20
to $18 for the three months ended September 30, 2022 from $406 for the three months ended September 30, 2021. Total nine months ended September 30, 2022 from $721 for the nine months ended September 30, 2021. The decrease for both general production shipments of products made by our contract manufacturers and decreases in payments under
THE HOOK
However, as of September 30, 2022, we had $5,420 in cash and restricted cash, as well as $19,208 in investments in debt securities. We view this total of $24,628 as readily available sources of liquidity in the event needed to advance our existing strategy, and/or pursue an alternative strategy. As such, we anticipate that our current capital resources, when considering expected losses from operations, will be sufficient to fund our operations for the foreseeable future.
