AquaBounty (AQB) 10-Q 4 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	May 03, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Fiscal Period Focus	Q1
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-36426
Entity Registrant Name	AquaBounty Technologies, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3156167
Entity Address, Address Line One	2 Mill & Main Place
Entity Address, Address Line Two	Suite 395
Entity Address, City or Town	Maynard
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01754
City Area Code	978
Local Phone Number	648-6000
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	AQB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		71,345,649
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Entity Central Index Key	0001603978

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 72,776,543	$ 101,638,557
Inventory	2,376,207	2,276,592
Prepaid expenses and other current assets	2,290,836	2,133,583
Total current assets	77,443,586	106,048,732
Property, plant and equipment, net	127,357,662	106,286,186
Right of use assets, net	206,734	222,856
Intangible assets, net	214,713	218,139
Restricted cash	1,000,000	1,000,000
Other assets	65,162	64,859
Total assets	206,287,857	213,840,772
Current liabilities:
Accounts payable and accrued liabilities	10,836,269	12,000,592
Accrued employee compensation	704,925	1,021,740
Current debt	2,377,781	2,387,231
Other current liabilities	4,631	20,830
Total current liabilities	13,923,606	15,430,393
Long-term lease obligations	202,103	203,227
Long-term debt, net	6,526,105	6,286,109
Total liabilities	20,651,814	21,919,729
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.001 par value, 150,000,000 shares authorized at March 31, 2023 and December 31, 2022; 71,338,938 and 71,110,713 shares outstanding at March 31, 2023 and December 31, 2022, respectively	71,339	71,111
Additional paid-in capital	385,585,097	385,388,684
Accumulated other comprehensive loss	(512,348)	(516,775)
Accumulated deficit	(199,508,045)	(193,021,977)
Total stockholders’ equity	185,636,043	191,921,043
Total liabilities and stockholders’ equity	$ 206,287,857	$ 213,840,772

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Condensed Consolidated Balance Sheets [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares outstanding (in shares)	71,338,938	71,110,713

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Revenues
Product revenues	$ 397,846	$ 962,881
Costs and expenses
Product costs	3,559,240	3,275,690
Sales and marketing	198,285	247,572
Research and development	122,917	167,189
General and administrative	3,000,482	2,376,236
Total costs and expenses	6,880,924	6,066,687
Operating loss	(6,483,078)	(5,103,806)
Other expense
Interest expense	(66,274)	(75,288)
Other income, net	63,284	67,368
Total other expense	(2,990)	(7,920)
Net loss	(6,486,068)	(5,111,726)
Other comprehensive income (loss):
Foreign currency translation gain	4,427	82,905
Unrealized loss on marketable securities		(114,065)
Total other comprehensive income (loss)	4,427	(31,160)
Comprehensive loss	$ (6,481,641)	$ (5,142,886)
Net Loss Per Share, Basic	$ (0.09)		$ (0.07)
Net Loss Per Share, Diluted	$ (0.09)		$ (0.07)
Weighted average number of Common Shares -
Weighted Average Number of Shares Outstanding, Basic and Diluted	71,169,277		71,004,454
Weighted Average Number of Shares Outstanding, Diluted	71,169,277		71,004,454

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]	Total
Beginning balance (in shares) at Dec. 31, 2021	71,025,738
Beginning balance at Dec. 31, 2021	$ 71,026	$ 384,852,107	$ (255,588)	$ (170,864,782)	$ 213,802,763
Net loss				(5,111,726)	(5,111,726)
Other comprehensive income (loss)			(31,160)		(31,160)
Share based compensation (in shares)	83,963
Share based compensation	$ 84	211,244			211,328
Ending balance (in shares) at Mar. 31, 2022	71,109,701
Ending balance at Mar. 31, 2022	$ 71,110	385,063,351	(286,748)	(175,976,508)	208,871,205
Beginning balance (in shares) at Dec. 31, 2022	71,110,713
Beginning balance at Dec. 31, 2022	$ 71,111	385,388,684	(516,775)	(193,021,977)	191,921,043
Net loss				(6,486,068)	(6,486,068)
Other comprehensive income (loss)			4,427		4,427
Share based compensation (in shares)	228,225
Share based compensation	$ 228	196,413			196,641
Ending balance (in shares) at Mar. 31, 2023	71,338,938
Ending balance at Mar. 31, 2023	$ 71,339	$ 385,585,097	$ (512,348)	$ (199,508,045)	$ 185,636,043

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating activities
Net loss	$ (6,486,068)	$ (5,111,726)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	531,726	490,563
Share-based compensation	196,641	211,328
Other non-cash charge	3,834	4,251
Changes in operating assets and liabilities:
Inventory	(99,936)	(411,794)
Prepaid expenses and other assets	(155,167)	(139,671)
Accounts payable and accrued liabilities	184,232	(6,949)
Accrued employee compensation	(316,815)	(362,416)
Net cash used in operating activities	(6,141,553)	(5,326,414)
Investing activities
Purchases of and deposits on property, plant and equipment	(22,931,293)	(5,762,143)
Maturities of marketable securities		45,915,851
Purchases of marketable securities		(47,621,291)
Other investing activities	(3,959)
Net cash used in investing activities	(22,935,252)	(7,467,583)
Financing activities
Proceeds from issuance of debt	394,156
Repayment of term debt	(179,392)	(159,304)
Net cash provided by (used in) financing activities	214,764	(159,304)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	27	8,106
Net change in cash, cash equivalents and restricted cash	(28,862,014)	(12,945,195)
Cash, cash equivalents and restricted cash at beginning of period	102,638,557	89,454,988
Cash, cash equivalents and restricted cash at end of period	73,776,543	76,509,793
Reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheet:
Cash and cash equivalents	72,776,543	75,509,793
Restricted cash	1,000,000	1,000,000
Cash, cash equivalents and restricted cash at end of period	73,776,543	76,509,793
Supplemental disclosure of cash flow information and non-cash transactions:
Interest paid in cash	62,439	71,037
Property and equipment included in accounts payable and accrued liabilities	$ 9,216,027	$ 1,507,514

Nature of Business and Organiza

Nature of Business and Organization	3 Months Ended
	Mar. 31, 2023
Nature of Business and Organization [Abstract]
Nature of Business and Organization	1. Nature of business and organization AquaBounty Technologies, Inc. (the “Parent” and, together with its wholly owned subsidiaries, the “Company”) was incorporated in December 1991 in the State of Delaware for the purpose of conducting research and development of the commercial viability of a group of proteins commonly known as antifreeze proteins. In 1996, the Parent obtained the exclusive licensing rights for a gene construct (transgene) used to create a breed of farm - raised Atlantic salmon that exhibit growth rates that are substantially faster than conventional Atlantic salmon. In 2015, the Parent obtained regulatory approval from the U.S. Food and Drug Administration for the production and sale of its genetically engineered AquAdvantage salmon product (“GE Atlantic salmon”) in the United States and in 2016, the Parent obtained regulatory approval from Health Canada for the production and sale of its GE Atlantic salmon product in Canada. In 2021, the Parent obtained regulatory approval from the National Biosafety Technical Commission for the sale of its GE Atlantic salmon product in Brazil. In 2021, the Company began harvesting and selling its GE Atlantic salmon in the United States and Canada.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Basis of Presentation [Abstract]
Basis of Presentation	2. Basis of presentation The unaudited interim condensed consolidated financial statements include the accounts of AquaBounty Technologies, Inc. and its wholly owned direct subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation. The unaudited interim condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States (“GAAP”) consistent with those applied in, and should be read in conjunction with, the Company’s audited financial statements and related notes for the year ended December 31, 2022. The unaudited interim condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the Company’s financial position as of March 31, 2023, results of operations and cash flows for the interim periods presented, and are not necessarily indicative of results for subsequent interim periods or for the full year. The unaudited interim condensed consolidated financial statements do not include all of the information and notes required by GAAP for complete financial statements, as allowed by the relevant U.S. Securities and Exchange Commission (“SEC”) rules and regulations; however, the Company believes that its disclosures are adequate to ensure that the information presented is not misleading. Liquidity The Company had $ 73.8 million in cash and cash equivalents, and restricted cash as of March 31, 2023. The Company’s plans include the continued construction of a 10,000 metric ton salmon farm in Ohio at a total project cost that is estimated to be between $ 375 million and $ 395 million, of which $ 99 million has been expended as of March 31, 2023. The Company plans to use cash-on-hand and debt financing to fund the remaining construction cost of the Ohio farm. While the Company has committed a significant amount of its current cash to fund a portion of the project, if necessary, management can utilize that cash for working capital purposes and therefore, management believes that it has sufficient cash to meet the Company's requirements beyond the next twelve months from the filing date of these condensed consolidated financial statements. However, until such time as the Company reaches profitability, it will require additional financing to fund its operations and execute its business plan. Inventories Inventories are mainly comprised of feed, eggs, fry, fish in process and fish for sale. Fish in process inventory is a biological asset that is measured based on the estimated biomass of fish on hand. The Company has established a standard procedure to estimate the biomass of fish on hand using counting and sampling techniques. The Company measures inventory at the lower of cost or net realizable value (“NRV”), where NRV is defined as the estimated market price, less the estimated costs of processing, packaging and transportation. The Company considers fish that has been harvested and transported from its farm to be fish for sale. Revenue recognition The Company is comprised of one reporting segment and generates revenue from the sale of its products. Revenue is recognized when the customer takes physical control of the goods, in an amount that reflects the transaction price consideration that the Company expects to receive in exchange for the goods. Revenue excludes any sales tax collected and includes any estimate of future credits. During the period ended March 31, 2023 and 2022, the Company recognized the following product revenue: Three Months Ended March 31, 2023 U.S. Canada Total GE Atlantic salmon $ 392,428 $ - $ 392,428 Non-GE Atlantic salmon eggs - 730 730 Non-GE Atlantic salmon fry 730 730 Other revenue - 3,958 3,958 Total Revenue $ 392,428 $ 5,418 $ 397,846 Three Months Ended March 31, 2022 U.S. Canada Total GE Atlantic salmon $ 788,977 $ 131,860 $ 920,837 Non-GE Atlantic salmon eggs - - - Non-GE Atlantic salmon fry - 41,807 41,807 Other revenue - 237 237 Total Revenue $ 788,977 $ 173,904 $ 962,881 During the period ended March 31, 2023 and 2022, the Company had the following customer concentration of revenue: Three Months Ended March 31 2023 2022 Customer A 54 % 34 % Customer B 24 % 21 % Customer C 15 % 14 % All other 7 % 31 % Total of all customers 100 % 100 % Net loss per share Basic and diluted net loss per share available to common stockholders has been calculated by dividing net loss by the weighted average number of shares of common stock outstanding during the year. Basic net loss per share is based solely on the number of shares of common stock outstanding during the year. Fully diluted net loss per share includes the number of shares of common stock issuable upon the exercise or vesting of equity instruments with an exercise price less than the fair value of the common stock. Since the Company is reporting a net loss for all periods presented, all potential shares of common stock are considered anti-dilutive and are excluded from the calculation of diluted net loss per share. The following potentially dilutive securities have been excluded from the calculation of diluted net loss per share, as their effect is anti-dilutive: Three Months Ended March 31, Weighted Average Outstanding 2023 2022 Stock options 840,110 768,303 Warrants 209,221 418,441 Unvested stock awards 301,474 124,873 Accounting Pronouncements Management does not expect any recently issued, but not yet effective, accounting standards to have a material effect on its results of operations or financial condition.

Risks and Uncertainties

Risks and Uncertainties	3 Months Ended
	Mar. 31, 2023
Risks and Uncertainties [Abstract]
Risks and Uncertainties	3. Risks and uncertainties The Company is subject to risks and uncertainties common in the biotechnology and aquaculture industries. Such risks and uncertainties include, but are not limited to: (i) results from current and planned product development studies and trials; (ii) decisions made by the FDA or similar regulatory bodies in other countries with respect to approval and commercial sale of any of the Company’s proposed products; (iii) the commercial acceptance of any products approved for sale and the Company’s ability to produce, distribute, and sell for a profit any products approved for sale; (iv) the Company’s ability to obtain the necessary patents and proprietary rights to effectively protect its technologies; and (v) the outcome of any collaborations or alliances entered into by the Company. Concentration of credit risk Financial instruments that potentially subject the Company to credit risk consist principally of cash and cash equivalents. This risk is mitigated by the Company’s policy of maintaining all balances with highly rated financial institutions and investing cash equivalents with maturities of less than 90 days. The Company’s cash balances may at times exceed insurance limitations. The Company holds cash balances in bank accounts located in Canada to fund its local operations. These amounts are subject to foreign currency exchange risk, which is minimized by the Company’s policy to limit the balances held in these accounts. Balances in Canadian bank accounts totaled $ 488 thousand and $ 518 thousand as of March 31, 2023 and December 31, 2022, respectively. The Company also holds cash equivalent investments in a highly liquid investment account at a major financial institution. As of March 31, 2023 and December 31, 2022 the cash equivalent investment balance was $ 651 thousand and $ 10.6 million, respectively.

Inventory

Inventory	3 Months Ended
	Mar. 31, 2023
Inventory [Abstract]
Inventory	4. Inventory Major classifications of inventory are summarized as follows: March 31, 2023 December 31, 2022 Feed $ 282,620 366,957 Eggs and fry 106,250 22,140 Fish in process 1,932,745 1,869,387 Fish for sale 54,592 18,108 Inventory $ 2,376,207 2,276,592

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	5. Property, plant and equipment Major classifications of property, plant and equipment are summarized as follows: March 31, 2023 December 31, 2022 Land $ 2,968,937 $ 2,968,561 Building and improvements 15,605,291 15,535,904 Construction in process 100,226,546 78,806,762 Equipment 17,358,133 17,259,301 Office furniture and equipment 271,449 258,972 Vehicles 106,200 106,074 Total property and equipment $ 136,536,556 $ 114,935,574 Less accumulated depreciation and amortization ( 9,178,894 ) ( 8,649,388 ) Property, plant and equipment, net $ 127,357,662 $ 106,286,186 Depreciation expense was $ 525 thousand and $ 484 thousand, for the three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023, construction in process included $ 95.6 million, $ 3.4 million, and $ 1.2 million for construction related to the Ohio, Rollo Bay and Indiana farm sites, respectively. An additional $ 36.5 million has been contractually committed for these farm sites as of March 31, 2023.

Debt

Debt	3 Months Ended
	Mar. 31, 2023
Debt [Abstract]
Debt	6. Debt The current material terms and conditions of debt outstanding are as follows: Interest rate Monthly repayment Maturity date March 31, 2023 December 31, 2022 ACOA AIF Grant 0 % Royalties - $ 2,122,348 $ 2,119,476 ACOA term loan #1 0 % C$ 3,120 Feb 2027 108,397 115,158 ACOA term loan #2 0 % C$ 4,630 Sep 2029 266,853 276,743 ACOA term loan #3 0 % C$ 6,945 Dec 2025 169,353 184,500 Kubota Canada Ltd 0 % C$ 1,142 Jan 2025 18,573 21,077 DFO term loan 0 % C$ 16,865 Jan 2034 1,254,896 854,885 Finance PEI term loan 4 % C$ 16,313 Nov 2023 1,736,008 1,752,547 First Farmers Bank & Trust term loan 5.375 % $ 56,832 Oct 2028 3,275,690 3,401,019 Total debt $ 8,952,118 $ 8,725,405 less: debt issuance costs ( 48,232 ) ( 52,065 ) less: current portion ( 2,377,781 ) ( 2,387,231 ) Long-term debt, net $ 6,526,105 $ 6,286,109 Estimated principal payments remaining on debt outstanding are as follows: Total 2023 remaining $ 2,225,269 2024 732,763 2025 830,977 2026 800,284 2027 810,753 Thereafter 3,552,072 Total $ 8,952,118 In September 2020, the Canadian Subsidiary entered into a Contribution Agreement with the Department of Fisheries and Ocean's Atlantic Fisheries Fund, whereby it is eligible to receive up to C$ 1.9 million ($ 1.4 million) to finance new equipment for its Rollo Bay farm (the “DFO Term Loan”). O n March 28, 2023, the Canadian Subsidiary borrowed an additional C$ 539,718 ($ 394,156 ) under the DFO Term Loan . Borrowings are interest free and monthly repayments commence in August 2024, with maturity in January 2034. In August 2020, the Indiana Subsidiary entered into a term loan agreement with First Farmers Bank and Trust (“FFBT”) in the amount of $ 4 million, which is secured by the assets of the Indiana subsidiary and a corporate guarantee. The agreement contains certain financial and non-financial covenants, which if not met, could result in an event of default pursuant to the terms of the loan. At March 31, 2023, the Indiana subsidiary was in compliance with its loan covenants. The Company recognized interest expense of $ 66 thousand and $ 75 thousand for the three months ended March 31, 2023 and 2022, respectively, on its interest-bearing debt.

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	7. Leases Lease expense for the three months ended March 31, 2023 and 2022, amounted to $ 22 thousand and $ 21 thousand, respectively. The weighted average remaining lease term of the Company’s operating leases was 26 years. Lease payments included in operating cash flows totaled $ 26 thousand and $ 25 thousand for the three months ended March 31, 2023 and 2022, respectively. The table below summarizes the outstanding lease liabilities at March 31, 2023 and December 31, 2022: Lease Liability March 31, 2023 December 31, 2022 Total leases $ 206,734 $ 224,058 Less: current portion ( 4,631 ) ( 20,831 ) Long-term leases $ 202,103 $ 203,227 Remaining payments under leases are as follows: Year Amount 2023 remaining $ 12,729 2024 17,481 2025 18,006 2026 18,546 2027 19,103 Thereafter 564,225 Total lease payments 650,090 Less: imputed interest ( 443,356 ) Total operational lease liabilities $ 206,734

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2023
Stockholders' Equity [Abstract]
Stockholders' Equity	8. Stockholders’ equity Warrants At March 31, 2023 and December 31, 2022, there were zero and 418,441 warrants outstanding, respectively, which were issued in conjunction with a public equity offering in January 2018. All outstanding warrants expired on January 17, 2023 . Share-based compensation At March 31, 2023, the Company has reserved 840,110 and 403,232 shares of common stock issuable upon the exercise of outstanding stock options and unvested stock awards, respectively under its 2006 and 2016 Equity Incentive Plans. An additional 533 shares of common stock are reserved for future equity awards under the 2016 Equity Incentive Plan. Unvested Stock Awards A summary of the Company’s unvested stock awards for the three months ended March 31, 2023, is as follows: Shares Weighted average grant date fair value Unvested at December 31, 2022 199,454 $ 1.86 Granted 452,087 0.65 Vested ( 248,047 ) 1.28 Forfeited — — Unvested at March 31, 2023 403,494 $ 0.87 During the three months ended March 31, 2023 and 2022, the Company expensed $ 155 thousand and $ 168 thousand, respectively, related to the stock awards. At March 31, 2023, the balance of unearned share-based compensation to be expensed in future periods related to the stock awards is $ 130 thousand. The period over which the unearned share-based compensation is expected to be earned is approximately 2 years. Stock options The Company’s option activity is summarized as follows: Number of options Weighted average exercise price Outstanding at December 31, 2022 840,110 $ 3.58 Issued — — Exercised — — Outstanding at March 31, 2023 840,110 $ 3.58 Exercisable at March 31, 2023 705,942 $ 3.90 Unless otherwise indicated, options issued to employees, members of the Board of Directors, and non-employees are vested daily over one to three years and are exercisable for a term of ten years from the date of issuance. There were no stock options granted during the three months ended March 31, 2023. The total intrinsic value of all options outstanding was $ 0 at March 31, 2023 and December 31, 2022. The total intrinsic value of exercisable options was $ 0 at March 31, 2023 and December 31, 2022. The following table summarizes information about options outstanding and exercisable at March 31, 2023: Weighted average exercise price of outstanding options Number of options outstanding Weighted average remaining estimated life (in years) Number of options exercisable $ 1.49 - $ 2.50 715,985 6.9 591,820 $ 5.44 - $ 6.72 45,235 7.3 35,232 $ 7.50 - $ 10.80 12,303 0.7 12,303 $ 14.20 - $ 23.40 66,587 3.0 66,587 840,110 705,942 Total share-based compensation on stock options amounted to $ 41 thousand and $ 43 thousand for the three months ended March 31, 2023 and 2022, respectively. At March 31, 2023, the balance of unearned share-based compensation to be expensed in future periods related to unvested share-based awards was $ 192 thousand. The period over which the unearned share-based compensation is expected to be earned is approximately 2.2 years.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies [Abstract]
Commitments and Contingencies	9. Commitments and contingencies The Company recognizes and discloses commitments when it enters into executed contractual obligations with other parties. The Company accrues contingent liabilities when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. The Company is subject to legal proceedings and claims arising in the normal course of business. Management believes that final disposition of any such matters existing at March 31, 2023, will not have a material adverse effect on the Company’s financial position or results of operations.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Taxes [Abstract]
Income Taxes	10. Income Taxes The Company estimates an annual effective tax rate of 0 % for the year ending December 31, 2023 as the Company incurred losses for the three months ended March 31, 2023 and is forecasting additional losses through the remainder of the year ending December 31, 2023, resulting in an estimated net loss for both financial statement and tax purposes for the year ending December 31, 2023. Therefore, no federal or state income taxes are expected and none have been recorded at this time. Income taxes have been accounted for using the liability method. Due to the Company’s history of losses since inception, there is not enough evidence at this time to support that the Company will generate future income of a sufficient amount and nature to utilize the benefits of its net deferred tax assets. Accordingly, the deferred tax assets have been reduced by a full valuation allowance, since the Company does not currently believe that realization of its deferred tax assets is more likely than not. As of March 31, 2023, the Company had no unrecognized income tax benefits that would reduce the Company’s effective tax rate if recognized.

Nature of Business and Organi_2

Nature of Business and Organization (Policy)	3 Months Ended
	Mar. 31, 2023
Nature of Business and Organization [Abstract]
Nature of Business and Organization	1. Nature of business and organization AquaBounty Technologies, Inc. (the “Parent” and, together with its wholly owned subsidiaries, the “Company”) was incorporated in December 1991 in the State of Delaware for the purpose of conducting research and development of the commercial viability of a group of proteins commonly known as antifreeze proteins. In 1996, the Parent obtained the exclusive licensing rights for a gene construct (transgene) used to create a breed of farm - raised Atlantic salmon that exhibit growth rates that are substantially faster than conventional Atlantic salmon. In 2015, the Parent obtained regulatory approval from the U.S. Food and Drug Administration for the production and sale of its genetically engineered AquAdvantage salmon product (“GE Atlantic salmon”) in the United States and in 2016, the Parent obtained regulatory approval from Health Canada for the production and sale of its GE Atlantic salmon product in Canada. In 2021, the Parent obtained regulatory approval from the National Biosafety Technical Commission for the sale of its GE Atlantic salmon product in Brazil. In 2021, the Company began harvesting and selling its GE Atlantic salmon in the United States and Canada.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	3 Months Ended
	Mar. 31, 2023
Basis of Presentation [Abstract]
Consolidation	The unaudited interim condensed consolidated financial statements include the accounts of AquaBounty Technologies, Inc. and its wholly owned direct subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation.
Basis of Presentation	The unaudited interim condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States (“GAAP”) consistent with those applied in, and should be read in conjunction with, the Company’s audited financial statements and related notes for the year ended December 31, 2022. The unaudited interim condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the Company’s financial position as of March 31, 2023, results of operations and cash flows for the interim periods presented, and are not necessarily indicative of results for subsequent interim periods or for the full year. The unaudited interim condensed consolidated financial statements do not include all of the information and notes required by GAAP for complete financial statements, as allowed by the relevant U.S. Securities and Exchange Commission (“SEC”) rules and regulations; however, the Company believes that its disclosures are adequate to ensure that the information presented is not misleading.
Liquidity	Liquidity The Company had $ 73.8 million in cash and cash equivalents, and restricted cash as of March 31, 2023. The Company’s plans include the continued construction of a 10,000 metric ton salmon farm in Ohio at a total project cost that is estimated to be between $ 375 million and $ 395 million, of which $ 99 million has been expended as of March 31, 2023. The Company plans to use cash-on-hand and debt financing to fund the remaining construction cost of the Ohio farm. While the Company has committed a significant amount of its current cash to fund a portion of the project, if necessary, management can utilize that cash for working capital purposes and therefore, management believes that it has sufficient cash to meet the Company's requirements beyond the next twelve months from the filing date of these condensed consolidated financial statements. However, until such time as the Company reaches profitability, it will require additional financing to fund its operations and execute its business plan.
Inventories	Inventories Inventories are mainly comprised of feed, eggs, fry, fish in process and fish for sale. Fish in process inventory is a biological asset that is measured based on the estimated biomass of fish on hand. The Company has established a standard procedure to estimate the biomass of fish on hand using counting and sampling techniques. The Company measures inventory at the lower of cost or net realizable value (“NRV”), where NRV is defined as the estimated market price, less the estimated costs of processing, packaging and transportation. The Company considers fish that has been harvested and transported from its farm to be fish for sale.
Revenue Recognition	Revenue recognition The Company is comprised of one reporting segment and generates revenue from the sale of its products. Revenue is recognized when the customer takes physical control of the goods, in an amount that reflects the transaction price consideration that the Company expects to receive in exchange for the goods. Revenue excludes any sales tax collected and includes any estimate of future credits. During the period ended March 31, 2023 and 2022, the Company recognized the following product revenue: Three Months Ended March 31, 2023 U.S. Canada Total GE Atlantic salmon $ 392,428 $ - $ 392,428 Non-GE Atlantic salmon eggs - 730 730 Non-GE Atlantic salmon fry 730 730 Other revenue - 3,958 3,958 Total Revenue $ 392,428 $ 5,418 $ 397,846 Three Months Ended March 31, 2022 U.S. Canada Total GE Atlantic salmon $ 788,977 $ 131,860 $ 920,837 Non-GE Atlantic salmon eggs - - - Non-GE Atlantic salmon fry - 41,807 41,807 Other revenue - 237 237 Total Revenue $ 788,977 $ 173,904 $ 962,881 During the period ended March 31, 2023 and 2022, the Company had the following customer concentration of revenue: Three Months Ended March 31 2023 2022 Customer A 54 % 34 % Customer B 24 % 21 % Customer C 15 % 14 % All other 7 % 31 % Total of all customers 100 % 100 %
Net Loss Per Share	Net loss per share Basic and diluted net loss per share available to common stockholders has been calculated by dividing net loss by the weighted average number of shares of common stock outstanding during the year. Basic net loss per share is based solely on the number of shares of common stock outstanding during the year. Fully diluted net loss per share includes the number of shares of common stock issuable upon the exercise or vesting of equity instruments with an exercise price less than the fair value of the common stock. Since the Company is reporting a net loss for all periods presented, all potential shares of common stock are considered anti-dilutive and are excluded from the calculation of diluted net loss per share. The following potentially dilutive securities have been excluded from the calculation of diluted net loss per share, as their effect is anti-dilutive: Three Months Ended March 31, Weighted Average Outstanding 2023 2022 Stock options 840,110 768,303 Warrants 209,221 418,441 Unvested stock awards 301,474 124,873
Accounting Pronouncements	Accounting Pronouncements Management does not expect any recently issued, but not yet effective, accounting standards to have a material effect on its results of operations or financial condition.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2023
Basis of Presentation [Abstract]
Schedule of Product Information	Three Months Ended March 31, 2023 U.S. Canada Total GE Atlantic salmon $ 392,428 $ - $ 392,428 Non-GE Atlantic salmon eggs - 730 730 Non-GE Atlantic salmon fry 730 730 Other revenue - 3,958 3,958 Total Revenue $ 392,428 $ 5,418 $ 397,846 Three Months Ended March 31, 2022 U.S. Canada Total GE Atlantic salmon $ 788,977 $ 131,860 $ 920,837 Non-GE Atlantic salmon eggs - - - Non-GE Atlantic salmon fry - 41,807 41,807 Other revenue - 237 237 Total Revenue $ 788,977 $ 173,904 $ 962,881
Schedule of Customer Concentration of Revenue	Three Months Ended March 31 2023 2022 Customer A 54 % 34 % Customer B 24 % 21 % Customer C 15 % 14 % All other 7 % 31 % Total of all customers 100 % 100 %
Schedule of Impact of Potentially Dilutive Securities Outstanding	Three Months Ended March 31, Weighted Average Outstanding 2023 2022 Stock options 840,110 768,303 Warrants 209,221 418,441 Unvested stock awards 301,474 124,873

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2023
Inventory [Abstract]
Schedule of Inventory	March 31, 2023 December 31, 2022 Feed $ 282,620 366,957 Eggs and fry 106,250 22,140 Fish in process 1,932,745 1,869,387 Fish for sale 54,592 18,108 Inventory $ 2,376,207 2,276,592

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	March 31, 2023 December 31, 2022 Land $ 2,968,937 $ 2,968,561 Building and improvements 15,605,291 15,535,904 Construction in process 100,226,546 78,806,762 Equipment 17,358,133 17,259,301 Office furniture and equipment 271,449 258,972 Vehicles 106,200 106,074 Total property and equipment $ 136,536,556 $ 114,935,574 Less accumulated depreciation and amortization ( 9,178,894 ) ( 8,649,388 ) Property, plant and equipment, net $ 127,357,662 $ 106,286,186

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2023
Debt [Abstract]
Terms and Conditions of Long-term Debt Outstanding	Interest rate Monthly repayment Maturity date March 31, 2023 December 31, 2022 ACOA AIF Grant 0 % Royalties - $ 2,122,348 $ 2,119,476 ACOA term loan #1 0 % C$ 3,120 Feb 2027 108,397 115,158 ACOA term loan #2 0 % C$ 4,630 Sep 2029 266,853 276,743 ACOA term loan #3 0 % C$ 6,945 Dec 2025 169,353 184,500 Kubota Canada Ltd 0 % C$ 1,142 Jan 2025 18,573 21,077 DFO term loan 0 % C$ 16,865 Jan 2034 1,254,896 854,885 Finance PEI term loan 4 % C$ 16,313 Nov 2023 1,736,008 1,752,547 First Farmers Bank & Trust term loan 5.375 % $ 56,832 Oct 2028 3,275,690 3,401,019 Total debt $ 8,952,118 $ 8,725,405 less: debt issuance costs ( 48,232 ) ( 52,065 ) less: current portion ( 2,377,781 ) ( 2,387,231 ) Long-term debt, net $ 6,526,105 $ 6,286,109
Principal Payments Due on Long-term Debt	Total 2023 remaining $ 2,225,269 2024 732,763 2025 830,977 2026 800,284 2027 810,753 Thereafter 3,552,072 Total $ 8,952,118

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Operating Lease Obligations And Remaining Payments	Lease Liability March 31, 2023 December 31, 2022 Total leases $ 206,734 $ 224,058 Less: current portion ( 4,631 ) ( 20,831 ) Long-term leases $ 202,103 $ 203,227
Remaining Payments Under Leases	Year Amount 2023 remaining $ 12,729 2024 17,481 2025 18,006 2026 18,546 2027 19,103 Thereafter 564,225 Total lease payments 650,090 Less: imputed interest ( 443,356 ) Total operational lease liabilities $ 206,734

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2023
Stockholders' Equity [Abstract]
Restricted Stock Activity	Shares Weighted average grant date fair value Unvested at December 31, 2022 199,454 $ 1.86 Granted 452,087 0.65 Vested ( 248,047 ) 1.28 Forfeited — — Unvested at March 31, 2023 403,494 $ 0.87
Stock Option Activity	Number of options Weighted average exercise price Outstanding at December 31, 2022 840,110 $ 3.58 Issued — — Exercised — — Outstanding at March 31, 2023 840,110 $ 3.58 Exercisable at March 31, 2023 705,942 $ 3.90
Information About Options Outstanding and Exercisable	Weighted average exercise price of outstanding options Number of options outstanding Weighted average remaining estimated life (in years) Number of options exercisable $ 1.49 - $ 2.50 715,985 6.9 591,820 $ 5.44 - $ 6.72 45,235 7.3 35,232 $ 7.50 - $ 10.80 12,303 0.7 12,303 $ 14.20 - $ 23.40 66,587 3.0 66,587 840,110 705,942

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) kg in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) kg	Dec. 31, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 73,776,543	$ 102,638,557	$ 76,509,793	$ 89,454,988
Construction In Process [Member] | 10,000 metric ton salmon farm, Ohio [Member]
Capacity of fish farm | kg	10
Construction expense	$ 99,000,000
Construction In Process [Member] | 10,000 metric ton salmon farm, Ohio [Member] | Maximum [Member]
Expected construction cost	395,000,000
Construction In Process [Member] | 10,000 metric ton salmon farm, Ohio [Member] | Minimum [Member]
Expected construction cost	$ 375,000,000

Basis of Presentation (Schedule

Basis of Presentation (Schedule of Product Information) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues	$ 397,846	$ 962,881
U.S. [Member]
Revenues	392,428	788,977
Canada [Member]
Revenues	5,418	173,904
GE Atlantic salmon [Member]
Revenues	392,428	920,837
GE Atlantic salmon [Member] | U.S. [Member]
Revenues	392,428	788,977
GE Atlantic salmon [Member] | Canada [Member]
Revenues		131,860
Non-GE Atlantic salmon eggs [Member]
Revenues	730
Non-GE Atlantic salmon eggs [Member] | Canada [Member]
Revenues	730
Non-GE Atlantic salmon fry [Member]
Revenues	730	41,807
Non-GE Atlantic salmon fry [Member] | Canada [Member]
Revenues	730	41,807
Other Revenue [Member]
Revenues	3,958	237
Other Revenue [Member] | Canada [Member]
Revenues	$ 3,958	$ 237

Basis of Presentation (Schedu_2

Basis of Presentation (Schedule of Customer Concentration of Revenue) (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member]	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Concentration Risk, Percentage	100%	100%
Customer A [Member]
Concentration Risk, Percentage	54%	34%
Customer B [Member]
Concentration Risk, Percentage	24%	21%
Customer C [Member]
Concentration Risk, Percentage	15%	14%
All other customers [Member]
Concentration Risk, Percentage	7%	31%

Basis of Presentation (Schedu_3

Basis of Presentation (Schedule of Impact of Potentially Dilutive Securities) (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Stock Options [Member]
Potentially dilutive securities	840,110	768,303
Warrants [Member]
Potentially dilutive securities	209,221	418,441
Unvested Restricted Shares [Member]
Potentially dilutive securities	301,474	124,873

Risks and Uncertainties (Narrat

Risks and Uncertainties (Narrative) (Details) - Credit Concentration Risk [Member] - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Concentration Risk [Line Items]
Cash equivalent investment balance	$ 651	$ 10,600
Canada [Member]
Concentration Risk [Line Items]
Cash in Canadian bank accounts	$ 488	$ 518

Inventory (Schedule of Inventor

Inventory (Schedule of Inventory) (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Inventory [Line Items]
Inventory, net	$ 2,376,207	$ 2,276,592
Feed, net [Member]
Inventory [Line Items]
Inventory, net	282,620	366,957
Eggs And Fry [Member]
Inventory [Line Items]
Inventory, net	106,250	22,140
Fish In process [Member]
Inventory [Line Items]
Inventory, net	1,932,745	1,869,387
Fish For Sale [Member]
Inventory [Line Items]
Inventory, net	$ 54,592	$ 18,108

Property, Plant and Equipment_2

Property, Plant and Equipment (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 525,000,000	$ 484,000,000
Gross property, plant, and equipment	136,536,556		$ 114,935,574
Commitments to purchase property, plant, and equipment	36,500,000
Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	100,226,546		$ 78,806,762
Rollo Bay Farm And Fortune Bay Hatchery [Member] | Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	3,400,000
Indiana Farm [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	1,200,000
10,000 metric ton salmon farm, Ohio [Member] | Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	$ 95,600,000

Property, Plant and Equipment_3

Property, Plant and Equipment (Schedule of Property, Plant and Equipment) (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 136,536,556	$ 114,935,574
Less accumulated depreciation and amortization	(9,178,894)	(8,649,388)
Property, plant and equipment, net	127,357,662	106,286,186
Land [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	2,968,937	2,968,561
Building And Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	15,605,291	15,535,904
Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	100,226,546	78,806,762
Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	17,358,133	17,259,301
Office Furniture And Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	271,449	258,972
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 106,200	$ 106,074

Debt (Narrative) (Details)

Debt (Narrative) (Details)	1 Months Ended		3 Months Ended
	Sep. 30, 2020 USD ($)	Sep. 30, 2020 CAD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 28, 2023 USD ($)	Mar. 28, 2023 CAD ($)	Aug. 31, 2020 USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of debt			$ 394,156
DFO Term Loan [Member]
Debt Instrument [Line Items]
Amount borrowed					$ 394,156	$ 539,718
Maturity date			Jan 2034
Interest rate			0%
Interest expense			$ 66,000	$ 75,000
ACOA Term Loan #3 [Member]
Debt Instrument [Line Items]
Maturity date			Dec 2025
Interest rate			0%
First Farmers Bank & Trust Term Loan [Member]
Debt Instrument [Line Items]
Maturity date			Oct 2028
Interest rate			5.375%
Secured Debt [Member] | First Farmers Bank & Trust Term Loan [Member]
Debt Instrument [Line Items]
Amount borrowed							$ 4,000,000
Canadian Subsidiary [Member] | Secured Debt [Member] | DFO Term Loan [Member]
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ 1,400,000	$ 1,900,000

Debt (Terms and Conditions of L

Debt (Terms and Conditions of Long-term Debt Outstanding) (Details)	3 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2023 CAD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Total	$ 8,952,118		$ 8,725,405
less: debt issuance costs	(48,232)		(52,065)
less: current portion	(2,377,781)		(2,387,231)
Long-term debt, net	$ 6,526,105		6,286,109
ACOA AIF Grant [Member]
Debt Instrument [Line Items]
Interest rate	0%
Maturity date	-	-
Total	$ 2,122,348		2,119,476
ACOA Term Loan #1 [Member]
Debt Instrument [Line Items]
Interest rate	0%
Monthly repayment		$ 3,120
Maturity date	Feb 2027	Feb 2027
Total	$ 108,397		115,158
ACOA Term Loan #2 [Member]
Debt Instrument [Line Items]
Interest rate	0%
Monthly repayment		$ 4,630
Maturity date	Sep 2029	Sep 2029
Total	$ 266,853		276,743
ACOA Term Loan #3 [Member]
Debt Instrument [Line Items]
Interest rate	0%
Monthly repayment		$ 6,945
Maturity date	Dec 2025	Dec 2025
Total	$ 169,353		184,500
Kubota Canada Ltd [Member]
Debt Instrument [Line Items]
Interest rate	0%
Monthly repayment		$ 1,142
Maturity date	Jan 2025	Jan 2025
Total	$ 18,573		21,077
DFO Term Loan [Member]
Debt Instrument [Line Items]
Interest rate	0%
Monthly repayment		$ 16,865
Maturity date	Jan 2034	Jan 2034
Total	$ 1,254,896		854,885
PEI Finance Term Loan [Member]
Debt Instrument [Line Items]
Interest rate	4%
Monthly repayment		$ 16,313
Maturity date	Nov 2023	Nov 2023
Total	$ 1,736,008		1,752,547
First Farmers Bank & Trust Term Loan [Member]
Debt Instrument [Line Items]
Interest rate	5.375%
Monthly repayment	$ 56,832
Maturity date	Oct 2028	Oct 2028
Total	$ 3,275,690		$ 3,401,019

Debt (Principal Payments Due on

Debt (Principal Payments Due on Long-term Debt) (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Estimated principal payments remaining on debt outstanding
2023 remaining	$ 2,225,269
2024	732,763
2025	830,977
2026	800,284
2027	810,753
Thereafter	3,552,072
Total	$ 8,952,118	$ 8,725,405

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Lease expense	$ 22	$ 21
Weighted average remaining lease term	26 years
Lease payment	$ 26	$ 25

Leases (Operating Lease Obligat

Leases (Operating Lease Obligations And Remaining Payments) (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Lease Obligations [Abstract]
Lease Liability	$ 206,734	$ 224,058
Lease Liability - Less: current portion	(4,631)	(20,831)
Lease Liability - Long-term leases	$ 202,103	$ 203,227

Leases (Remaining Payments Unde

Leases (Remaining Payments Under Leases) (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2023 remaining	$ 12,729
2024	17,481
2025	18,006
2026	18,546
2027	19,103
Thereafter	564,225
Total lease payments	650,090
Less: imputed interest	(443,356)
Total operating lease liabilities	$ 206,734	$ 224,058

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Stockholders' Equity
Intrinsic value of exercisable options	$ 0		$ 0
Share-based compensation	$ 196,641	$ 211,328
Class of Warrant or Right, Outstanding	0		418,441
Restricted Stock [Member]
Stockholders' Equity
Granted	452,087
Share-based compensation expense	$ 155,000	168,000
Unearned share-based compensation expense in future periods	$ 130,000
Unearned share-based compensation earn period	2 years
Stock Options [Member]
Stockholders' Equity
Unearned share-based compensation expense in future periods	$ 192,000
Unearned share-based compensation earn period	2 years 2 months 12 days
Intrinsic value of options outstanding	$ 0		$ 0
Share-based compensation	$ 41,000	$ 43,000
Share-based Compensation
Exercisable term	10 years
Employees, members of the Board of Directors, and non-employees [Member]
Stockholders' Equity
Granted	0
Minimum [Member] | Stock Options [Member]
Share-based Compensation
Award vesting period	1 year
Maximum [Member] | Stock Options [Member]
Share-based Compensation
Award vesting period	3 years
2006 Equity Incentive Plan [Member]
Stockholders' Equity
Common stock reserved for future issuances (in shares)	840,110
2016 Equity Incentive Plan, Additional Grants [Member]
Stockholders' Equity
Common stock reserved for future issuances (in shares)	533
2016 Equity Incentive Plan [Member]
Stockholders' Equity
Common stock reserved for future issuances (in shares)	403,232
Common Stock [Member] | Warrants [Member]
Stockholders' Equity
Expiration date	Jan. 17, 2023

Stockholders' Equity (Restricte

Stockholders' Equity (Restricted Stock Activity) (Details) - Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Shares
Beginning balance | shares	199,454
Granted | shares	452,087
Vested | shares	(248,047)
Ending balance | shares	403,494
Weighted average grant date fair value
Beginning balance | $ / shares	$ 1.86
Granted | $ / shares	0.65
Vested | $ / shares	1.28
Ending balance | $ / shares	$ 0.87

Stockholders' Equity (Stock Opt

Stockholders' Equity (Stock Option Activity) (Details) - Stock Options [Member]	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of options
Outstanding, beginning balance | shares	840,110
Issued | shares
Exercised | shares
Outstanding, ending balance | shares	840,110
Exercisable | shares	705,942
Weighted average exercise price
Outstanding, beginning balance | $ / shares	$ 3.58
Issued | $ / shares
Exercised | $ / shares
Outstanding, ending balance | $ / shares	3.58
Exercisable | $ / shares	$ 3.90

Stockholders' Equity (Informati

Stockholders' Equity (Information About Options Outstanding and Exercisable) (Details) - Stock Options [Member]	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	840,110
Number of options exercisable	705,942
$1.49 - $2.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	715,985
Weighted average remaining estimated life (in years)	6 years 10 months 24 days
Number of options exercisable	591,820
$5.44 - $6.72 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	45,235
Weighted average remaining estimated life (in years)	7 years 3 months 18 days
Number of options exercisable	35,232
$7.50 - $10.80 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	12,303
Weighted average remaining estimated life (in years)	8 months 12 days
Number of options exercisable	12,303
$14.20 - $23.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	66,587
Weighted average remaining estimated life (in years)	3 years
Number of options exercisable	66,587
Minimum [Member] | $1.49 - $2.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	$ 1.49
Minimum [Member] | $5.44 - $6.72 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	5.44
Minimum [Member] | $7.50 - $10.80 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	7.50
Minimum [Member] | $14.20 - $23.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	14.20
Maximum [Member] | $1.49 - $2.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	2.50
Maximum [Member] | $5.44 - $6.72 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	6.72
Maximum [Member] | $7.50 - $10.80 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	10.80
Maximum [Member] | $14.20 - $23.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	$ 23.40

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2023
Tax Credit Carryforward [Line Items]
Unrecognized income tax benefits	$ 0
Income Tax Expense (Benefit)	$ 0
Forecast [Member]
Tax Credit Carryforward [Line Items]
Effective tax rate		0%