Lucira Health, Inc.

2021 Q3 Form 10-Q Financial Statement

#000156459021044271 Filed on August 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $117.3M $161.7M
YoY Change 71.72%
Cash & Equivalents $119.6M $161.7M $19.81M
Short-Term Investments
Other Short-Term Assets $10.08M $6.099M
YoY Change 48.24%
Inventory $42.96M $36.18M
Prepaid Expenses $6.164M
Receivables $11.90M $3.400M
Other Receivables $9.608M $92.00K
Total Short-Term Assets $192.9M $215.9M
YoY Change 156.47%
LONG-TERM ASSETS
Property, Plant & Equipment $26.96M $28.15M
YoY Change 308.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $245.0K $31.00K
YoY Change -59.17%
Total Long-Term Assets $29.93M $28.76M
YoY Change 315.64%
TOTAL ASSETS
Total Short-Term Assets $192.9M $215.9M
Total Long-Term Assets $29.93M $28.76M
Total Assets $222.8M $244.7M
YoY Change 170.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.45M $6.673M
YoY Change 143.09%
Accrued Expenses $15.19M $18.67M
YoY Change 659.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $27.44M $28.64M
YoY Change 335.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.364M $254.0K
YoY Change 172.8%
Total Long-Term Liabilities $1.364M $254.0K
YoY Change 172.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.44M $28.64M
Total Long-Term Liabilities $1.364M $254.0K
Total Liabilities $28.80M $28.89M
YoY Change 323.53%
SHAREHOLDERS EQUITY
Retained Earnings -$120.7M -$93.20M
YoY Change
Common Stock $39.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $194.0M $215.8M -$33.75M
YoY Change
Total Liabilities & Shareholders Equity $222.8M $244.7M
YoY Change 170.37%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2

Facts In Submission

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On January 28, 2021, the Company’s board of directors (the “Board”) approved a 1-for-4.3103 reverse stock split (the “Reverse Stock Split”) of the Company’s common stock and each series of its redeemable convertible preferred stock to be consummated prior to the effectiveness of the Company’s initial public offering (“IPO”) on February 4, 2021.
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<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:9.06%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Significant estimates and assumptions made in the accompanying financial statements include, but are not limited to recognition of grant income, the fair value of the Company’s common stock and redeemable convertible preferred stock, the fair value of derivative liabilities and convertible notes payable, stock-based compensation, incremental borrowing rate,<span style="font-weight:bold;"> </span>revenue recognition, inventory valuation,<span style="font-weight:bold;"> </span>sales returns, warranty reserves, allowance for doubtful accounts, accrued research and development costs, uncertain tax positions, the<span style="font-weight:bold;"> </span>recoverability of its long-lived assets and the valuation of deferred tax assets. The Company evaluates its </p> <p style="margin-top:12pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could materially differ from those estimates.</span></p>
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