10-K Filing

Vicarious Surgical Inc. CIK: 1812173 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001213900-22-016785`
Period End Date	20211231
Filing Date	20220331
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	f10k2021_vicarioussurg_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 24 Cash Flow Statement 69 Stockholders Equity 22

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$173.51M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$258.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$178.37M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$118.00K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.05M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$445.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.25M	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$100.00K	USD	Point-in-time
Total assets	`Assets`	$17.79M	USD	Point-in-time
Total assets	`Assets`	$181.68M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$373.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.10M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$394.00K	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Current portion of equipment loans	`CapitalLeaseObligationsCurrent`	$47.00K	USD	Point-in-time
Current portion of equipment loans	`CapitalLeaseObligationsCurrent`	$47.00K	USD	Point-in-time
Current portion of term loan	`CurrentPortionOfTermLoan`	$600.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$814.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.25M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$58.00K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$1.63M	USD	Point-in-time
Equipment loans, net of current portion	`NotesPayableEquipmentLoansOfNetCurrent`	$63.00K	USD	Point-in-time
Equipment loans, net of current portion	`NotesPayableEquipmentLoansOfNetCurrent`	$16.00K	USD	Point-in-time
Term loan, net of current portion and issuance costs	`LongTermDebtNoncurrent`	$675.00K	USD	Point-in-time
Warrant liabilities	`DerivativeLiabilitiesNoncurrent`	$90.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$935.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$98.59M	USD	Point-in-time
Commitments and Contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Legacy convertible preferred stock (Note 10)	`ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue`	-	USD	Point-in-time
Legacy convertible preferred stock (Note 10)	`ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; no shares issued or outstanding at December 31, 2021 and 2020	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; no shares issued or outstanding at December 31, 2021 and 2020	`PreferredStockValue`	-	USD	Point-in-time
Class A Common stock, $0.0001 par value; 300,000,000 and 200,000,000 shares authorized at December 31, 2021 and 2020, respectively; 99,979,207 and 67,640,740 issued and outstanding at December 31, 2021 and 2020, respectively	`CommonStockValue`	$12.00K	USD	Point-in-time
Class A Common stock, $0.0001 par value; 300,000,000 and 200,000,000 shares authorized at December 31, 2021 and 2020, respectively; 99,979,207 and 67,640,740 issued and outstanding at December 31, 2021 and 2020, respectively	`CommonStockValue`	$7.00K	USD	Point-in-time
Class B Common stock, $0.0001 par value; 22,000,000 and 20,000,000 shares authorized at December 31, 2021 and 2020, respectively; 19,789,860 and 19,572,257 shares issued and outstanding at December 31, 2021 and 2020	`CommonStockValueOne`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$149.88M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$48.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-66.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-31.59M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$16.85M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-17.52M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$83.09M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$181.68M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$17.79M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$9.80M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$22.06M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$861.00K	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$2.96M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$13.20M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.33M	USD	Annual
Total operating expenses	`OperatingExpenses`	$12.98M	USD	Annual
Total operating expenses	`OperatingExpenses`	$38.22M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-38.22M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-12.98M	USD	Annual
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-3.08M	USD	Annual
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	-	USD	Annual
Interest income	`InvestmentIncomeInterest`	$113.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$20.00K	USD	Annual
Interest expense	`InterestExpense`	$89.00K	USD	Annual
Interest expense	`InterestExpense`	$3.00K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-12.88M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-35.21M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-35.21M	USD	Annual
Net loss	`NetIncomeLoss`	$-12.88M	USD	Annual
Net loss per share of Class A and Class B common stock, basic and diluted (in Dollars per share)	`EarningsPerShareBasic`	$-0.16	USD	Annual
Net loss per share of Class A and Class B common stock, basic and diluted (in Dollars per share)	`EarningsPerShareBasic`	$-0.36	USD	Annual

Cash Flow Statement 69 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-35.21M	USD	Annual
Net loss	`NetIncomeLoss`	$-12.88M	USD	Annual
Depreciation	`Depreciation`	$157.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$157.00K	USD	Annual
Depreciation	`Depreciation`	$316.00K	USD	Annual
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	Annual
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-8.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$448.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$3.69M	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	-	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$21.00K	USD	Annual
Change in fair value of warrant liabilities	`ChangeInFairValuesOfWarrantLiabilities`	-	USD	Annual
Change in fair value of warrant liabilities	`ChangeInFairValuesOfWarrantLiabilities`	$-3.08M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$3.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$4.61M	USD	Annual
Accounts payable	`OfferingCostsIncludedInNotePayable`	$-170.00K	USD	Annual
Accounts payable	`OfferingCostsIncludedInNotePayable`	$-1.13M	USD	Annual
Accrued expenses	`OfferingCostsIncludedInAccruedExpenses`	$-3.70M	USD	Annual
Accrued expenses	`OfferingCostsIncludedInAccruedExpenses`	$-80.00K	USD	Annual
Deferred rent	`IncreaseDecreaseInDeferredRent`	$-733.00K	USD	Annual
Deferred rent	`IncreaseDecreaseInDeferredRent`	-	USD	Annual
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	Annual
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$15.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-12.04M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-33.30M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.29M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$120.00K	USD	Annual
Proceeds from short term investments	`PaymentsForProceedsFromShortTermInvestments`	$-13.32M	USD	Annual
Proceeds from short term investments	`PaymentsForProceedsFromShortTermInvestments`	-	USD	Annual
Net cash provided by/(used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$13.20M	USD	Annual
Net cash provided by/(used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.29M	USD	Annual
Repayment of equipment loans	`RepaymentsOfConstructionLoansPayable`	$48.00K	USD	Annual
Repayment of equipment loans	`RepaymentsOfConstructionLoansPayable`	$47.00K	USD	Annual
Proceeds from issuance of common stock, net of issuance costs	`ProceedsFromDebtNetOfIssuanceCosts`	$13.52M	USD	Annual
Proceeds from issuance of common stock, net of issuance costs	`ProceedsFromDebtNetOfIssuanceCosts`	-	USD	Annual
Proceeds from term loan	`ProceedsFromBankDebt`	$1.50M	USD	Annual
Proceeds from term loan	`ProceedsFromBankDebt`	-	USD	Annual
Repayment of term loan	`RepaymentsOfBankDebt`	$150.00K	USD	Annual
Repayment of term loan	`RepaymentsOfBankDebt`	-	USD	Annual
Proceeds from reverse recapitalization, net of issuance costs	`ProceedsFromReverseRecapitalizationNetOfIssuanceCosts`	$190.42M	USD	Annual
Proceeds from reverse recapitalization, net of issuance costs	`ProceedsFromReverseRecapitalizationNetOfIssuanceCosts`	-	USD	Annual
Proceeds from exercise of public warrants	`ProceedsFromIssuanceOfWarrants`	$16.00K	USD	Annual
Proceeds from exercise of public warrants	`ProceedsFromIssuanceOfWarrants`	-	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$43.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$421.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.52M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$192.16M	USD	Annual
Change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$14.68M	USD	Annual
Change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$157.58M	USD	Annual
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.98M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.30M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$174.56M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$174.56M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.30M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.98M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsRestricted`	$173.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsRestricted`	$16.87M	USD	Point-in-time
Restricted cash	`RestrictedCashEquivalents`	$118.00K	USD	Point-in-time
Restricted cash	`RestrictedCashEquivalents`	$1.05M	USD	Point-in-time
Reconciliation of restricted cash total	`RestrictedCashAndCashEquivalents`	$16.98M	USD	Point-in-time
Reconciliation of restricted cash total	`RestrictedCashAndCashEquivalents`	$174.56M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$3.00K	USD	Annual
Interest paid	`InterestPaidNet`	$36.00K	USD	Annual
Leasehold improvements funded by the landlord	`LeaseholdImprovementsAcquiredInConnectionWithWalthamLease`	$840.00K	USD	Annual
Leasehold improvements funded by the landlord	`LeaseholdImprovementsAcquiredInConnectionWithWalthamLease`	-	USD	Annual
Warrants assumed in acquisition	`WarrantsAssumedInAcquisition`	-	USD	Annual
Warrants assumed in acquisition	`WarrantsAssumedInAcquisition`	$93.11M	USD	Annual
Issuance of warrants recorded as deferred financing costs	`ReverseRecapitalizationCostsInAccountsPayableAndAccruedExpenses`	-	USD	Annual
Issuance of warrants recorded as deferred financing costs	`ReverseRecapitalizationCostsInAccountsPayableAndAccruedExpenses`	$85.00K	USD	Annual

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Series A-3 financing, net issuance cost	`PaymentsOfStockIssuanceCosts`	$95.00K	USD	Annual
Balance,	`StockholdersEquity`	$16.85M	USD	Point-in-time
Balance,	`StockholdersEquity`	$-17.52M	USD	Point-in-time
Balance,	`StockholdersEquity`	$83.09M	USD	Point-in-time
Retroactive application of recapitalization (Note 1)	`StockIssuedDuringPeriodValueOther`	$33.15M	USD	Annual
Adjusted balance, beginning of period	`StockRepurchasedAndRetiredDuringPeriodValue`	$15.63M	USD	Annual
Series A-3 financing, net issuance cost of $95	`StockIssuedDuringPeriodValueNewIssues`	$13.52M	USD	Annual
Reverse recapitalization, net of transaction costs (Note 1)	`StockIssuedDuringPeriodValueIssuedForServices`	$97.31M	USD	Annual
Cashless exercise of warrants	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Exercise of common stock options	`ExerciseOfCommonStockOptions`	$421.00K	USD	Annual
Exercise of common stock options	`ExerciseOfCommonStockOptions`	$43.00K	USD	Annual
Exercise of public warrants	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$16.00K	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$3.69M	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$448.00K	USD	Annual
Vesting of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Vesting of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Issuance of common stock warrants	`StockIssuedDuringPeriodValueIssuanceOfCommonStockWarrants`	$85.00K	USD	Annual
Net loss	`ProfitLoss`	$-35.21M	USD	Annual
Net loss	`ProfitLoss`	$-12.88M	USD	Annual
Balance,	`StockholdersEquity`	$-17.52M	USD	Point-in-time
Balance,	`StockholdersEquity`	$16.85M	USD	Point-in-time
Balance,	`StockholdersEquity`	$83.09M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.