Lucira Health, Inc.

2021 Q3 Form 10-Q Financial Statement

#000156459021056692 Filed on November 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3 2020 Q2

Balance Sheet

Concept 2021 Q3 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $117.3M $68.30M
YoY Change 71.72%
Cash & Equivalents $119.6M $70.63M $19.81M
Short-Term Investments
Other Short-Term Assets $10.08M $6.800M
YoY Change 48.24%
Inventory $42.96M
Prepaid Expenses
Receivables $11.90M
Other Receivables $9.608M
Total Short-Term Assets $192.9M $75.20M
YoY Change 156.47%
LONG-TERM ASSETS
Property, Plant & Equipment $26.96M $6.600M
YoY Change 308.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $245.0K $600.0K
YoY Change -59.17%
Total Long-Term Assets $29.93M $7.200M
YoY Change 315.64%
TOTAL ASSETS
Total Short-Term Assets $192.9M $75.20M
Total Long-Term Assets $29.93M $7.200M
Total Assets $222.8M $82.40M
YoY Change 170.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.45M $4.300M
YoY Change 143.09%
Accrued Expenses $15.19M $2.000M
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 $6.300M
YoY Change 335.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.364M $500.0K
YoY Change 172.8%
Total Long-Term Liabilities $1.364M $500.0K
YoY Change 172.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.44M $6.300M
Total Long-Term Liabilities $1.364M $500.0K
Total Liabilities $28.80M $6.800M
YoY Change 323.53%
SHAREHOLDERS EQUITY
Retained Earnings -$120.7M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $194.0M -$45.39M -$33.75M
YoY Change
Total Liabilities & Shareholders Equity $222.8M $82.40M
YoY Change 170.37%

Cashflow Statement

Concept 2021 Q3 2020 Q3 2020 Q2

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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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 pre IPO 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 </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;">evaluates its 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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1600000
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1577000
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9726000
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431000
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487000
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281000
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145000
CY2021Q3 us-gaap Accrued Liabilities Current
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15194000
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4445000
CY2021Q3 us-gaap Other Commitment
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48200000
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476000
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2021-07-06
CY2021Q3 lhdx Lessee Operating Lease Expiration Date
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2024-06-30
CY2021Q3 us-gaap Lessee Operating Lease Option To Extend
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3 years
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2021-08-30
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P2Y
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P2Y
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402000
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1411000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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1040000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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147000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3000000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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212000
CY2021Q3 us-gaap Operating Lease Liability
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2788000
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1424000
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
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1364000
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253000
CY2020Q3 us-gaap Operating Lease Cost
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109000
us-gaap Operating Lease Cost
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471000
us-gaap Operating Lease Cost
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327000
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CY2020Q3 us-gaap Short Term Lease Cost
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99000
us-gaap Short Term Lease Cost
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939000
us-gaap Short Term Lease Cost
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289000
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P2Y1M6D
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P2Y4M24D
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200000000
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10000000
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0.001
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4100000
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CY2020Q4 lhdx Temporary Equity Shares Issued And Outstanding
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CY2020Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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121080000
CY2020Q4 us-gaap Temporary Equity Liquidation Preference
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CY2021Q3 us-gaap Dividends Payable Current And Noncurrent
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0
CY2018Q4 us-gaap Common Stock Shares Authorized
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28716724
CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.001
CY2019Q1 us-gaap Common Stock Shares Authorized
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50000000
CY2019Q3 us-gaap Common Stock Shares Authorized
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51000000
CY2019Q4 us-gaap Common Stock Shares Authorized
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52000000
CY2020Q1 us-gaap Common Stock Shares Authorized
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75000000
CY2020Q3 us-gaap Common Stock Shares Authorized
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150000000
CY2021Q3 us-gaap Dividends Payable Current And Noncurrent
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0
us-gaap Common Stock Voting Rights
CommonStockVotingRights
The holder of each share of common stock is entitled to one vote.
CY2021Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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2100000
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3500000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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400000
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400000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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4587700
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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1.51
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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3152000
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634093
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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17.00
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440055
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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3453000
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162671
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13.46
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4619067
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3.26
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24823000
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4619067
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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24823000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
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1931399
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
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2.05
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
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11507000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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7.52
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.81
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
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5028000
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118000
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6500000
us-gaap Allocated Share Based Compensation Expense
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235000
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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4400000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M6D
CY2021Q3 us-gaap Income Tax Expense Benefit
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0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
lhdx Related Party Transaction Consulting Expenses
RelatedPartyTransactionConsultingExpenses
100000
lhdx Related Party Transaction Consulting Expenses
RelatedPartyTransactionConsultingExpenses
100000

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