10-Q Filing

Vicarious Surgical Inc. CIK: 1812173 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001213900-22-024896`
Period End Date	20220331
Filing Date	20220509
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	f10q0322_vicarious_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 26 Cash Flow Statement 52 Stockholders Equity 16

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashEquivalentsAtCarryingValue`	$173.51M	USD	Point-in-time
Cash and cash equivalents	`CashEquivalentsAtCarryingValue`	$157.01M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$4.87M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$3.85M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$178.37M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$160.86M	USD	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$1.05M	USD	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$936.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.25M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.09M	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$14.09M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Total assets	`Assets`	$181.68M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Total assets	`Assets`	$179.97M	USD	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`	$2.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.50M	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.04M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.10M	USD	Point-in-time
Lease liabilities, current portion	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Lease liabilities, current portion	`OperatingLeaseLiabilityCurrent`	$580.00K	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
Current portion of term loan	`CurrentPortionOfTermLoan`	$600.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.39M	USD	Point-in-time
Lease liabilities, net of current portion	`FinanceLeaseLiabilityNoncurrent`	$15.52M	USD	Point-in-time
Lease liabilities, net of current portion	`FinanceLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	-	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$1.63M	USD	Point-in-time
Equipment loans, net of current portion	`NotesPayableEquipmentLoansOfNetCurrent`	$16.00K	USD	Point-in-time
Equipment loans, net of current portion	`NotesPayableEquipmentLoansOfNetCurrent`	$4.00K	USD	Point-in-time
Term loan, net of current portion and issuance costs	`LongTermDebtNoncurrent`	$675.00K	USD	Point-in-time
Term loan, net of current portion and issuance costs	`LongTermDebtNoncurrent`	$534.00K	USD	Point-in-time
Warrant liabilities	`WarrantsAndRightsOutstanding`	$29.29M	USD	Point-in-time
Warrant liabilities	`WarrantsAndRightsOutstanding`	$90.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$51.74M	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 11)	`ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue`	-	USD	Point-in-time
Legacy convertible preferred stock (Note 11)	`ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; no shares issued or outstanding at March 31, 2022 and December 31, 2021	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; no shares issued or outstanding at March 31, 2022 and December 31, 2021	`PreferredStockValue`	-	USD	Point-in-time
Class A Common stock, $0.0001 par value; 300,000,000 shares authorized at March 31, 2022 and December 31, 2021; 101,378,795 and 99,979,207 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$10.00K	USD	Point-in-time
Class A Common stock, $0.0001 par value; 300,000,000 shares authorized at March 31, 2022 and December 31, 2021; 101,378,795 and 99,979,207 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$10.00K	USD	Point-in-time
Class B Common stock, $0.0001 par value; 22,000,000 shares authorized at March 31, 2022 and December 31, 2021; 19,789,860 shares issued and outstanding at March 31, 2022 and December 31, 2021	`CommonStockValueOne`	$2.00K	USD	Point-in-time
Class B Common stock, $0.0001 par value; 22,000,000 shares authorized at March 31, 2022 and December 31, 2021; 19,789,860 shares issued and outstanding at March 31, 2022 and December 31, 2021	`CommonStockValueOne`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$149.88M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$152.49M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.27M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-66.80M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$83.09M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$128.23M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$179.97M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$181.68M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$9.85M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.61M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.40M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$226.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.40M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.93M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.23M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$18.18M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-18.18M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.23M	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-60.73M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$8.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$29.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Income/(loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.23M	USD	1 Quarter
Income/(loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$42.53M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income/(loss) and comprehensive gain/(loss)	`ProfitLoss`	$42.53M	USD	1 Quarter
Net income/(loss) and comprehensive gain/(loss)	`ProfitLoss`	$-5.23M	USD	1 Quarter
Net income/(loss) per share of Class A and Class B common stock, basic (in Dollars per share)	`EarningsPerShareBasic`	$0.35	USD	1 Quarter
Net income/(loss) per share of Class A and Class B common stock, basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.06	USD	1 Quarter
Net income/(loss) per share of Class A and Class B common stock, diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.06	USD	1 Quarter
Net income/(loss) per share of Class A and Class B common stock, diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.33	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`NetIncomeLoss`	$42.53M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$-5.23M	USD	1 Quarter
Depreciation	`Depreciation`	$185.00K	USD	1 Quarter
Depreciation	`Depreciation`	$41.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.28M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$256.00K	USD	1 Quarter
Amortization of capitalized debt issuance costs	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Amortization of capitalized debt issuance costs	`AmortizationOfFinancingCosts`	$8.00K	USD	1 Quarter
Non-cash lease expense	`OtherNoncashExpense`	$217.00K	USD	1 Quarter
Change in fair value of warrant liabilities	`ChangeInFairValuesOfWarrantLiabilities`	$-60.73M	USD	1 Quarter
Change in fair value of warrant liabilities	`ChangeInFairValuesOfWarrantLiabilities`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$164.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-1.01M	USD	1 Quarter
Accounts payable	`OfferingCostsIncludedInNotePayable`	$-618.00K	USD	1 Quarter
Accounts payable	`OfferingCostsIncludedInNotePayable`	$-132.00K	USD	1 Quarter
Accrued expenses	`OfferingCostsIncludedInAccruedExpenses`	$1.05M	USD	1 Quarter
Accrued expenses	`OfferingCostsIncludedInAccruedExpenses`	$-827.00K	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInLeasingReceivables`	$-167.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInDeferredRent`	$1.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.14M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-14.77M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.02M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$128.00K	USD	1 Quarter
Net cash (used in)/provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-128.00K	USD	1 Quarter
Net cash (used in)/provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.02M	USD	1 Quarter
Repayment of equipment loans	`RepaymentsOfConstructionLoansPayable`	$8.00K	USD	1 Quarter
Repayment of equipment loans	`RepaymentsOfConstructionLoansPayable`	$12.00K	USD	1 Quarter
Proceeds from term loan	`ProceedsFromBankDebt`	$1.50M	USD	1 Quarter
Repayment of term loan	`RepaymentsOfBankDebt`	$150.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$56.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$336.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$174.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.55M	USD	1 Quarter
Change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.72M	USD	1 Quarter
Change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-16.61M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$157.95M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$14.27M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$16.98M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$174.56M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$174.56M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$16.98M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$157.95M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$14.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsRestricted`	$13.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsRestricted`	$157.01M	USD	Point-in-time
Restricted cash	`RestrictedCashEquivalents`	$622.00K	USD	Point-in-time
Restricted cash	`RestrictedCashEquivalents`	$936.00K	USD	Point-in-time
Reconciliation of restricted cash total	`RestrictedCashAndCashEquivalents`	$14.27M	USD	Point-in-time
Reconciliation of restricted cash total	`RestrictedCashAndCashEquivalents`	$157.95M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$1.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$11.00K	USD	1 Quarter
Issuance of warrants recorded as deferred financing costs	`StockIssued1`	$85.00K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$11.93M	USD	Point-in-time
Balance	`StockholdersEquity`	$-29.82M	USD	Point-in-time
Balance	`StockholdersEquity`	$83.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$128.23M	USD	Point-in-time
Retroactive application of recapitalization (Note 1)	`StockIssuedDuringPeriodValueOther`	$46.67M	USD	1 Quarter
Adjusted balance, beginning of period	`StockRepurchasedAndRetiredDuringPeriodValue`	$16.85M	USD	1 Quarter
Exercise of common stock options	`ExerciseOfCommonStockOptions`	$56.00K	USD	1 Quarter
Exercise of common stock options	`ExerciseOfCommonStockOptions`	$336.00K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.28M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$256.00K	USD	1 Quarter
Net income (Loss)	`ProfitLoss`	$42.53M	USD	1 Quarter
Net income (Loss)	`ProfitLoss`	$-5.23M	USD	1 Quarter
Balance	`StockholdersEquity`	$11.93M	USD	Point-in-time
Balance	`StockholdersEquity`	$-29.82M	USD	Point-in-time
Balance	`StockholdersEquity`	$83.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$128.23M	USD	Point-in-time

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