10-Q Filing

Vicarious Surgical Inc. CIK: 1812173 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001213900-23-037375`
Period End Date	20230331
Filing Date	20230508
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	f10q0323_vicarioussurg_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 31 Cash Flow Statement 62 Stockholders Equity 19

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$116.21M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	-	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$43.49M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$4.20M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$3.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$120.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$101.41M	USD	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$936.00K	USD	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$936.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$6.59M	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$6.46M	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$12.27M	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
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$12.08M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$205.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$92.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Total assets	`Assets`	$140.29M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Total assets	`Assets`	$121.09M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.91M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.73M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$5.81M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.83M	USD	Point-in-time
Lease liabilities, current portion	`OperatingLeaseLiabilityCurrent`	$838.00K	USD	Point-in-time
Lease liabilities, current portion	`OperatingLeaseLiabilityCurrent`	$928.00K	USD	Point-in-time
Current portion of equipment loans	`CapitalLeaseObligationsCurrent`	$4.00K	USD	Point-in-time
Current portion of equipment loans	`CapitalLeaseObligationsCurrent`	$16.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.67M	USD	Point-in-time
Lease liabilities, net of current portion	`FinanceLeaseLiabilityNoncurrent`	$14.59M	USD	Point-in-time
Lease liabilities, net of current portion	`FinanceLeaseLiabilityNoncurrent`	$14.83M	USD	Point-in-time
Warrant liabilities	`WarrantsAndRightsOutstanding`	$12.10M	USD	Point-in-time
Warrant liabilities	`WarrantsAndRightsOutstanding`	$6.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$29.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$33.36M	USD	Point-in-time
Commitments and Contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; no shares issued or outstanding at March 31, 2023 and December 31, 2022	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; no shares issued or outstanding at March 31, 2023 and December 31, 2022	`PreferredStockValue`	-	USD	Point-in-time
Class A Common stock, $0.0001 par value; 300,000,000 shares authorized at March 31, 2023 and December 31, 2022; 106,858,603 and 106,251,429 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$11.00K	USD	Point-in-time
Class A Common stock, $0.0001 par value; 300,000,000 shares authorized at March 31, 2023 and December 31, 2022; 106,858,603 and 106,251,429 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$11.00K	USD	Point-in-time
Class B Common stock, $0.0001 par value; 22,000,000 shares authorized at March 31, 2023 and December 31, 2022; 19,619,760 and 19,627,576 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	`CommonStockValueOne`	$2.00K	USD	Point-in-time
Class B Common stock, $0.0001 par value; 22,000,000 shares authorized at March 31, 2023 and December 31, 2022; 19,619,760 and 19,627,576 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	`CommonStockValueOne`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$176.21M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$172.67M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$65.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-88.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-61.64M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$111.05M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$87.73M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$140.29M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$121.09M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$13.36M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$9.85M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.40M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.96M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.93M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.00M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$22.32M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$18.18M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-22.32M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-18.18M	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$6.08M	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-60.73M	USD	1 Quarter
Interest and other income	`InvestmentIncomeInterest`	$8.00K	USD	1 Quarter
Interest and other income	`InvestmentIncomeInterest`	$1.47M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$29.00K	USD	1 Quarter
Income/(loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-26.92M	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)	`NetIncomeLoss`	$42.53M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$-26.92M	USD	1 Quarter
Net income/(loss) per share of Class A and Class B common stock, basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.21	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, diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.33	USD	1 Quarter
Net income/(loss) per share of Class A and Class B common stock, diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.21	USD	1 Quarter
Net unrealized gain on investments	`UnrealizedGainLossOnInvestments`	$65.00K	USD	1 Quarter
Other comprehensive gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$65.00K	USD	1 Quarter
Other comprehensive gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	-	USD	1 Quarter
Comprehensive net income/(loss)	`ComprehensiveIncomeNetOfTax`	$-26.86M	USD	1 Quarter
Comprehensive net income/(loss)	`ComprehensiveIncomeNetOfTax`	$42.53M	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`NetIncomeLoss`	$42.53M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$-26.92M	USD	1 Quarter
Depreciation	`Depreciation`	$441.00K	USD	1 Quarter
Depreciation	`Depreciation`	$185.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.25M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.28M	USD	1 Quarter
Amortization of capitalized debt issuance costs	`AmortizationOfFinancingCosts`	$8.00K	USD	1 Quarter
Amortization of capitalized debt issuance costs	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Non-cash lease expense	`OtherNoncashExpense`	$196.00K	USD	1 Quarter
Non-cash lease expense	`OtherNoncashExpense`	$217.00K	USD	1 Quarter
Change in fair value of warrant liabilities	`ChangeInFairValuesOfWarrantLiabilities`	$6.08M	USD	1 Quarter
Change in fair value of warrant liabilities	`ChangeInFairValuesOfWarrantLiabilities`	$-60.73M	USD	1 Quarter
Change in accrued interest and net accretion of discounts on short-term investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	-	USD	1 Quarter
Change in accrued interest and net accretion of discounts on short-term investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$169.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-1.01M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-623.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$170.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$618.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.05M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.98M	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-150.00K	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$167.00K	USD	1 Quarter
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$113.00K	USD	1 Quarter
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-14.77M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-18.57M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$306.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.02M	USD	1 Quarter
Purchases of available-for-sale investments	`PaymentsToAcquireInvestments`	$43.52M	USD	1 Quarter
Purchases of available-for-sale investments	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.02M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-43.83M	USD	1 Quarter
Repayment of equipment loans	`RepaymentsOfConstructionLoansPayable`	$12.00K	USD	1 Quarter
Repayment of equipment loans	`RepaymentsOfConstructionLoansPayable`	$12.00K	USD	1 Quarter
Repayment of term loan	`RepaymentsOfBankDebt`	$150.00K	USD	1 Quarter
Repayment of term loan	`RepaymentsOfBankDebt`	-	USD	1 Quarter
Proceeds from short swing rule	`ProceedsFromIssuanceOfWarrants`	$200.00K	USD	1 Quarter
Proceeds from short swing rule	`ProceedsFromIssuanceOfWarrants`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$85.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$336.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$273.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$174.00K	USD	1 Quarter
Change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-16.61M	USD	1 Quarter
Change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-62.12M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$174.56M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$157.95M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$117.14M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$55.02M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$117.14M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$55.02M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$157.95M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$174.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsRestricted`	$157.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsRestricted`	$54.08M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$936.00K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$936.00K	USD	Point-in-time
Reconciliation of restricted cash total	`RestrictedCashAndCashEquivalents`	$157.95M	USD	Point-in-time
Reconciliation of restricted cash total	`RestrictedCashAndCashEquivalents`	$55.02M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$11.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$1.00K	USD	1 Quarter
Accruals for property, plant and equipment purchased during the period	`AccrualsForPropertyPlantAndEquipmentPurchasedDuringThePeriod`	$10.00K	USD	1 Quarter
Accruals for property, plant and equipment purchased during the period	`AccrualsForPropertyPlantAndEquipmentPurchasedDuringThePeriod`	-	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$111.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$83.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$128.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$87.73M	USD	Point-in-time
Exercise of common stock options	`ExerciseOfCommonStockOptions`	$336.00K	USD	1 Quarter
Exercise of common stock options	`ExerciseOfCommonStockOptions`	$85.00K	USD	1 Quarter
Exercise of public warrants	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	-	USD	1 Quarter
Vesting of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	-	USD	1 Quarter
Vesting of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	-	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$3.25M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.28M	USD	1 Quarter
Proceeds from short swing rule	`StockIssuedDuringPeriodValueOther`	$200.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$42.53M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-26.92M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$65.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$111.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$83.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$128.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$87.73M	USD	Point-in-time

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