$ACET
Adicet Bio, Inc.

2022 Q4 Form 10-Q Financial Statement

#000095017022023230 Filed on November 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $3.429M
YoY Change -100.0% -100.0% 13.17%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.550M $6.415M $5.213M
YoY Change 3.12% 23.06% -32.65%
% of Gross Profit
Research & Development $25.02M $16.57M $11.93M
YoY Change 85.87% 38.94% 33.37%
% of Gross Profit
Depreciation & Amortization $1.059M $759.0K $388.0K
YoY Change 190.14% 95.62% -53.81%
% of Gross Profit
Operating Expenses $31.57M $22.99M $17.14M
YoY Change 59.34% 34.11% 2.73%
Operating Profit -$22.99M -$13.71M
YoY Change 67.65% 0.4%
Interest Expense $2.153M $18.00K $50.00K
YoY Change 17841.67% -64.0% 0.0%
% of Operating Profit
Other Income/Expense, Net -$463.0K -$217.0K -$246.0K
YoY Change 57.48% -11.79% -79.9%
Pretax Income -$29.88M -$22.00M -$14.00M
YoY Change 88.8% 57.09% -5.24%
Income Tax $0.00 $0.00 $11.00K
% Of Pretax Income
Net Earnings -$29.88M -$22.00M -$14.01M
YoY Change 88.93% 56.97% -5.18%
Net Earnings / Revenue -408.66%
Basic Earnings Per Share -$0.53 -$0.44
Diluted Earnings Per Share -$0.70 -$0.53 -$439.6K
COMMON SHARES
Basic Shares Outstanding 42.85M 41.64M 31.84M
Diluted Shares Outstanding 41.64M 31.88M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $257.7M $282.7M $192.2M
YoY Change -7.17% 47.06% 77.79%
Cash & Equivalents $257.7M $282.7M $192.2M
Short-Term Investments $0.00
Other Short-Term Assets $380.0K $380.0K $1.000K
YoY Change 1125.81% 37900.0% -98.18%
Inventory
Prepaid Expenses $295.0K $269.0K $655.0K
Receivables $0.00 $29.00K
Other Receivables $435.0K $259.0K
Total Short-Term Assets $261.0M $285.7M $199.0M
YoY Change -7.58% 43.57% 69.51%
LONG-TERM ASSETS
Property, Plant & Equipment $28.71M $26.83M $11.40M
YoY Change 96.07% 135.47% 457.76%
Goodwill $19.46M $19.46M $19.46M
YoY Change 0.0% 0.0% -6.16%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.211M $1.281M $1.921M
YoY Change -35.82% -33.32% -12.16%
Total Long-Term Assets $69.65M $68.57M $58.17M
YoY Change 23.28% 17.87% 76.33%
TOTAL ASSETS
Total Short-Term Assets $261.0M $285.7M $199.0M
Total Long-Term Assets $69.65M $68.57M $58.17M
Total Assets $330.7M $354.3M $257.2M
YoY Change -2.43% 37.76% 71.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.404M $4.570M $4.631M
YoY Change 34.97% -1.32% 21.87%
Accrued Expenses $15.30M $12.65M $5.313M
YoY Change 85.51% 138.11% -21.87%
Deferred Revenue $0.00 $0.00 $10.09M
YoY Change -100.0% -100.0% -47.97%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.71M $17.22M $20.03M
YoY Change 20.78% -14.03% -33.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $114.0K $116.0K $116.0K
YoY Change -0.87% 0.0% 182.93%
Total Long-Term Liabilities $114.0K $116.0K $116.0K
YoY Change -0.87% 0.0% 182.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.71M $17.22M $20.03M
Total Long-Term Liabilities $114.0K $116.0K $116.0K
Total Liabilities $38.35M $36.65M $39.97M
YoY Change 7.1% -8.32% 19.43%
SHAREHOLDERS EQUITY
Retained Earnings -$238.1M -$208.2M -$152.5M
YoY Change 41.46% 36.54% 56.64%
Common Stock $530.5M $525.9M $369.7M
YoY Change 12.51% 42.24% 72.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $292.3M $317.7M $217.2M
YoY Change
Total Liabilities & Shareholders Equity $330.7M $354.3M $257.2M
YoY Change -2.43% 37.76% 71.01%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$29.88M -$22.00M -$14.01M
YoY Change 88.93% 56.97% -5.18%
Depreciation, Depletion And Amortization $1.059M $759.0K $388.0K
YoY Change 190.14% 95.62% -53.81%
Cash From Operating Activities -$18.84M -$15.33M -$9.684M
YoY Change 40.11% 58.28% 23.68%
INVESTING ACTIVITIES
Capital Expenditures $6.490M -$4.811M -$7.178M
YoY Change -310.85% -32.98% 1039.37%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$6.490M -$4.811M -$7.178M
YoY Change 110.85% -32.98% -115.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 304.0K 42.18M 362.0K
YoY Change -99.69% 11550.83% 805.0%
NET CHANGE
Cash From Operating Activities -18.84M -15.33M -9.684M
Cash From Investing Activities -6.490M -4.811M -7.178M
Cash From Financing Activities 304.0K 42.18M 362.0K
Net Change In Cash -25.02M 22.04M -16.50M
YoY Change -130.92% -233.56% -144.02%
FREE CASH FLOW
Cash From Operating Activities -$18.84M -$15.33M -$9.684M
Capital Expenditures $6.490M -$4.811M -$7.178M
Free Cash Flow -$25.33M -$10.52M -$2.506M
YoY Change 144.33% 319.67% -65.19%

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us-gaap Concentration Risk Credit Risk
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and cash equivalents. The Company’s cash and cash equivalents are held at one financial institution in the U.S. and one financial institution in Israel and such amounts may, at times, exceed insured limits. The Company invests its cash equivalents in money market funds. The Company limits its credit risk associated with cash equivalents by placing them with banks and institutions it believes are highly creditworthy and in highly rated investments. The Company has not experienced any losses on its deposits of cash and cash equivalents to date.</span></p>
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WeightedAverageNumberOfSharesIssuedBasic
41642815
CY2021Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
31876016
CY2021Q3 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
31876016
us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
40547792
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
40547792
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
29954616
us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
29954616
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.53
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.53
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.44
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.44
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.98
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.98
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.54
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6181095
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4497246

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