STATEMENT OF STOCKHOLDERS' EQUITY
ROLL-FORWARD RECONCILIATION
| Component | Amount ($000) |
|---|---|
| Total Stockholders' Equity -- Beginning of Period | $32,062 |
| Add: Net Income (per Income Statement) | 15,750 |
| Add: Stock-Based Compensation Expense (non-cash) | 3,100 |
| Add: Proceeds from Exercise of Stock Options | 1,200 |
| Add: Vesting of Restricted Stock Units | 600 |
| Total Stockholders' Equity -- End of Period | $52,712 |
Verification: $32,062 + $15,750 + $3,100 + $1,200 + $600 = $52,712
RECONCILIATION CHECKS
| Checkpoint | Computation | Result |
|---|---|---|
| Accumulated Deficit Roll-Forward | ($32,246) + $15,750 | ($16,496) |
| APIC Roll-Forward | $64,300 + $3,100 + $1,200 + $600 | $69,200 |
| Shares Roll-Forward | 80,200 + 1,200 + 600 | 82,000 |
| Total Stockholders' Equity | $8 + $69,200 + ($16,496) | $52,712 |
| Net Income Agrees with Income Statement | Per IS bottom line | $15,750 |
| Ending Equity Agrees with Balance Sheet | Per BS equity section | $52,712 |
| Accounting Equation | $161,412 = $108,700 + $52,712 | Confirmed |
All checkpoints confirmed. Ending total stockholders' equity of $52,712K ties to the Balance Sheet equity section and satisfies the accounting equation (Total Assets $161,412K = Total Liabilities $108,700K + Total Stockholders' Equity $52,712K).
CAPITALIZATION SUMMARY
| Component | Shares (000) | Amount ($000) |
|---|---|---|
| Common Stock Outstanding | 82,000 | $8 |
| Authorized Common Stock | 200,000 | -- |
| Equity Awards Outstanding (not in share count): | ||
| Stock Options (vested and unvested) | 4,200 | -- |
| Restricted Stock Units (unvested) | 1,800 | -- |
| Fully Diluted Shares | 88,000 | -- |
| Ownership Summary: | ||
| Co-Founders (Vasquez) | 33,620 (41.0%) | -- |
| Series A Investors | 12,300 (15.0%) | -- |
| Series B Investors | 18,040 (22.0%) | -- |
| Employee Option Pool (exercised + outstanding) | 11,480 (14.0%) | -- |
| Seed Investors and Angels | 6,560 (8.0%) | -- |
FOOTNOTES
[1] Stock-Based Compensation Expense: SBC of $3,100K was recognized under ASC 718 for stock options and restricted stock units granted to employees across all functional areas (COR $200K, R&D $1,400K, S&M $500K, G&A $1,000K). SBC is a non-cash expense that increases APIC. The expense is computed using the Black-Scholes option pricing model for stock options and the grant-date fair value for RSUs, amortized over the requisite service period (typically 4-year vesting with 1-year cliff). See Structured Data Map, A-092.
[2] Exercise of Stock Options: During FY2024, employees exercised options for 1,200K shares at a weighted average exercise price of $1.00 per share, generating $1,200K in cash proceeds. The intrinsic value at exercise was approximately $4,800K. Options exercised had a weighted average grant-date fair value of $0.42 per share. See Structured Data Map, A-093.
[3] Vesting of Restricted Stock Units: During FY2024, 600K RSUs vested and were settled in shares. The company recognized $600K of the related SBC expense in FY2024 (included in the $3,100K total SBC). No shares were withheld for tax obligations on RSU settlements during FY2024; taxes were paid in cash by employees. See Structured Data Map, A-094.
[4] Equity Financing History: IMT has raised $66,200K in total equity capital across three rounds:
- Seed (2013): $3,200K at $8M pre-money valuation
- Series A (2015): $18,000K at $42M pre-money valuation
- Series B (2018): $45,000K at $180M pre-money valuation
No additional primary equity capital has been raised since the Series B. The co-founders retain 41.0% ownership (33,620K shares), and total cumulative SBC recognized through FY2024 has contributed approximately $6,100K to APIC above the $66,200K in primary capital raised ($64,300K beginning APIC - $66,200K raised + cumulative SBC adjustments and other = net reconciliation). See Structured Data Map, A-087 and A-088.
[5] No Dividends or Share Repurchases: IMT has never declared or paid dividends and has not repurchased any shares of its common stock. All earnings have been retained (or offset accumulated deficit) to fund growth. See Structured Data Map, Entity Structure Notes.
SOURCE REFERENCE INDEX
| Equity Statement Line | Data Map Ref | TB Account(s) |
|---|---|---|
| Common Stock -- Beginning and Ending | A-087 | 3000 |
| Additional Paid-In Capital -- Beginning | A-088 | 3100 |
| Accumulated Deficit -- Beginning | A-089 | 3200 |
| Net Income | A-042, A-085 | -- (per IS) |
| Stock-Based Compensation Expense | A-092 | 3100 (APIC) |
| Stock Option Exercises | A-093 | 3000, 3100 |
| RSU Vesting | A-094 | 3000, 3100 |
| Accumulated Deficit -- Ending | A-090 | 3200 |
| Total Stockholders' Equity -- Ending | A-091 | -- |