$ALEC
Alector Inc

2023 Q1 Form 10-K Financial Statement

#000095017023005111 Filed on February 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $16.55M $14.44M $133.6M
YoY Change -32.38% 3.19% -35.48%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $14.78M $15.39M $61.03M
YoY Change -5.0% -9.14% 10.89%
% of Gross Profit
Research & Development $51.89M $54.49M $210.4M
YoY Change -2.18% 3.23% 11.09%
% of Gross Profit
Depreciation & Amortization $1.360M $1.394M $5.714M
YoY Change -14.41% -12.55% -9.72%
% of Gross Profit
Operating Expenses $66.66M $69.88M $271.5M
YoY Change -2.82% 0.22% 11.05%
Operating Profit -$50.12M -$137.8M
YoY Change 13.58% 268.93%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $5.159M $3.731M $7.778M
YoY Change 1854.17% 2983.47% 654.41%
Pretax Income -$44.96M -$51.71M -$130.1M
YoY Change 2.5% -7.02% 257.99%
Income Tax $901.0K $0.00 $3.254M
% Of Pretax Income
Net Earnings -$45.86M -$52.43M -$133.3M
YoY Change 2.78% -5.72% 266.95%
Net Earnings / Revenue -277.1% -363.07% -99.77%
Basic Earnings Per Share -$0.55 -$1.62
Diluted Earnings Per Share -$0.55 -$0.62 -$1.62
COMMON SHARES
Basic Shares Outstanding 83.03M 82.70M 82.47M
Diluted Shares Outstanding 83.10M 82.47M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $669.3M $712.9M $712.9M
YoY Change -22.94% -3.05% -3.05%
Cash & Equivalents $195.6M $154.3M $154.3M
Short-Term Investments $473.8M $558.5M $558.5M
Other Short-Term Assets $11.97M $11.00M $11.00M
YoY Change 25.57% 55.52% 55.52%
Inventory
Prepaid Expenses
Receivables $4.699M $2.587M $2.587M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $686.0M $726.4M $726.4M
YoY Change -23.0% -3.1% -3.1%
LONG-TERM ASSETS
Property, Plant & Equipment $25.00M $25.52M $53.33M
YoY Change -4.69% -6.62% -7.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.804M $6.409M $7.881M
YoY Change 48.42% 14.98% 11.85%
Total Long-Term Assets $62.34M $61.21M $61.21M
YoY Change -1.87% -5.75% -5.75%
TOTAL ASSETS
Total Short-Term Assets $686.0M $726.4M $726.4M
Total Long-Term Assets $62.34M $61.21M $61.21M
Total Assets $748.3M $787.6M $787.6M
YoY Change -21.6% -3.32% -3.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.126M $4.189M $4.189M
YoY Change -53.7% -11.79% -11.79%
Accrued Expenses $18.58M $27.77M $41.39M
YoY Change -7.29% 1.13% -5.94%
Deferred Revenue $61.77M $48.23M
YoY Change -35.39% -46.88%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $99.30M $93.81M $93.81M
YoY Change -30.5% -32.78% -32.78%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $898.0K $759.0K $479.4M
YoY Change 468.35% 380.38% 28.05%
Total Long-Term Liabilities $898.0K $759.0K $479.4M
YoY Change 468.35% 380.38% 28.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $99.30M $93.81M $93.81M
Total Long-Term Liabilities $898.0K $759.0K $479.4M
Total Liabilities $565.3M $573.2M $573.2M
YoY Change -17.7% 11.53% 11.53%
SHAREHOLDERS EQUITY
Retained Earnings -$625.5M -$579.7M
YoY Change 27.4% 29.86%
Common Stock $8.000K $8.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $183.0M $214.4M $214.4M
YoY Change
Total Liabilities & Shareholders Equity $748.3M $787.6M $787.6M
YoY Change -21.6% -3.32% -3.32%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$45.86M -$52.43M -$133.3M
YoY Change 2.78% -5.72% 266.95%
Depreciation, Depletion And Amortization $1.360M $1.394M $5.714M
YoY Change -14.41% -12.55% -9.72%
Cash From Operating Activities -$48.55M -$48.93M -$20.33M
YoY Change -135.94% -0.69% -106.81%
INVESTING ACTIVITIES
Capital Expenditures $1.025M $766.0K $4.117M
YoY Change 48.12% -237.52% 26.79%
Acquisitions
YoY Change
Other Investing Activities $89.73M $19.15M -$154.9M
YoY Change -886.1% -113.1% 233.71%
Cash From Investing Activities $88.70M $18.38M -$159.0M
YoY Change -832.7% -112.53% 220.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.079M 636.0K 4.514M
YoY Change -56.54% -92.64% -85.1%
NET CHANGE
Cash From Operating Activities -48.55M -48.93M -20.33M
Cash From Investing Activities 88.70M 18.38M -159.0M
Cash From Financing Activities 1.079M 636.0K 4.514M
Net Change In Cash 41.23M -29.91M -174.8M
YoY Change -67.14% -84.04% -162.62%
FREE CASH FLOW
Cash From Operating Activities -$48.55M -$48.93M -$20.33M
Capital Expenditures $1.025M $766.0K $4.117M
Free Cash Flow -$49.57M -$49.69M -$24.45M
YoY Change -136.88% 2.02% -108.28%

Facts In Submission

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835000
CY2021 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2957000
CY2020 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2498000
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-572000
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1917000
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2409000
CY2022 alec Increase Decrease In Accrued Liabilities And Accrued Clinical Supply Costs
IncreaseDecreaseInAccruedLiabilitiesAndAccruedClinicalSupplyCosts
-2655000
CY2021 alec Increase Decrease In Accrued Liabilities And Accrued Clinical Supply Costs
IncreaseDecreaseInAccruedLiabilitiesAndAccruedClinicalSupplyCosts
2391000
CY2020 alec Increase Decrease In Accrued Liabilities And Accrued Clinical Supply Costs
IncreaseDecreaseInAccruedLiabilitiesAndAccruedClinicalSupplyCosts
12232000
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
66383000
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
292915000
CY2020 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-21098000
CY2022 alec Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-4274000
CY2021 alec Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-4012000
CY2020 alec Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-2407000
CY2022 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
601000
CY2021 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-314000
CY2020 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-21000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-20329000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
298551000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-166734000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4117000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3247000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5032000
CY2022 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
556898000
CY2021 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
343402000
CY2020 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
506809000
CY2022 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0
CY2021 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
10696000
CY2020 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0
CY2022 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
402001000
CY2021 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
286290000
CY2020 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
406790000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-159014000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-49663000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-105051000
CY2022 alec Proceeds From Payments For Issuance Initial Public Offering
ProceedsFromPaymentsForIssuanceInitialPublicOffering
0
CY2021 alec Proceeds From Payments For Issuance Initial Public Offering
ProceedsFromPaymentsForIssuanceInitialPublicOffering
0
CY2020 alec Proceeds From Payments For Issuance Initial Public Offering
ProceedsFromPaymentsForIssuanceInitialPublicOffering
-224603000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3059000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
28530000
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6331000
CY2022 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1455000
CY2021 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1765000
CY2020 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1179000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4514000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
30295000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
232113000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-174829000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
279183000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-39672000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
330624000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51441000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
91113000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
155795000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
330624000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51441000
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
493000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
705000
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
428000
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:4.533%;text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;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;">Use of Estimates</span></p><p style="margin-left:4.533%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;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;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expense during the reporting period. The Company evaluates its estimates, including those related to revenue recognition, manufacturing accruals, clinical accruals, fair value of assets and liabilities, income taxes uncertainties, stock-based compensation, and related 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><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;font-style:italic;min-width:fit-content;">.</span><span style="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;"> </span></p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-left:4.533%;text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;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><span style="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;"> </span></p><p style="margin-left:4.533%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;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 that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, and short-term marketable securities. Cash and cash equivalents are deposited in checking and sweep accounts at financial institutions. Such deposits may, at times, exceed federally insured limits.</span><span style="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;"> </span></p>
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
154323000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
329152000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
49969000
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1472000
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1472000
CY2020Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1472000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
155795000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
330624000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51441000
CY2022 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
0
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0
CY2021 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0
CY2020 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
200000
CY2022Q4 alec Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
12321000
CY2021Q4 alec Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
13330000
CY2022 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1200000
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
800000
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
700000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
640800000
CY2022Q4 alec Available For Sale Securities Debt Maturities Within One Through Two Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneThroughTwoYearFairValue
9600000
CY2021 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
10700000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
444900000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
307900000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
48133000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
44616000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
22612000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
17286000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
25521000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
27330000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
12758000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
11664000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1983000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1588000
CY2022Q4 alec Accrued Property And Equipment Current
AccruedPropertyAndEquipmentCurrent
337000
CY2021Q4 alec Accrued Property And Equipment Current
AccruedPropertyAndEquipmentCurrent
560000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
372000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
318000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
27771000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
27460000
CY2022 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
The lease expires in 2029 with an option to renew for a period of ten years.
CY2022 alec Lease Expiration Year
LeaseExpirationYear
2029
CY2022Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P10Y
CY2022 us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
15700000
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1500000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
6638000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
6204000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
5589000
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
2785000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
3046000
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
2255000
CY2022 alec Sublease Income And Reimbursement Of Variable Lease Cost1
SubleaseIncomeAndReimbursementOfVariableLeaseCost1
1872000
CY2021 alec Sublease Income And Reimbursement Of Variable Lease Cost1
SubleaseIncomeAndReimbursementOfVariableLeaseCost1
2141000
CY2020 alec Sublease Income And Reimbursement Of Variable Lease Cost1
SubleaseIncomeAndReimbursementOfVariableLeaseCost1
2288000
CY2022 us-gaap Lease Cost
LeaseCost
7551000
CY2021 us-gaap Lease Cost
LeaseCost
7109000
CY2020 us-gaap Lease Cost
LeaseCost
5556000
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y2M12D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.085
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
8200000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
7900000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
6900000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
8436000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
8732000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
9037000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
9353000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
9681000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
11096000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
56335000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
13008000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
43327000
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-27205000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
46146000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
40785000
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
30522000
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
2209000
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1045000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3254000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-7627000
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-39948000
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-344000
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-398000
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-16570000
CY2022 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
20184000
CY2021 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
9389000
CY2020 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
8010000
CY2022 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
7733000
CY2021 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
2347000
CY2020 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
2003000
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
4919000
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-2368000
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
353000
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
38421000
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
16800000
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
62280000
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-86000
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-161000
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-108000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3254000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
20963000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
63868000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
806000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
1811000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
26319000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
19614000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
13351000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
9656000
CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
67673000
CY2021Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
27849000
CY2022Q4 alec Deferred Tax Assets Lease Liabilities
DeferredTaxAssetsLeaseLiabilities
10055000
CY2021Q4 alec Deferred Tax Assets Lease Liabilities
DeferredTaxAssetsLeaseLiabilities
11296000
CY2022Q4 alec Deferred Tax Assets Tax Deferred Expense Capitalized Research And Development Costs
DeferredTaxAssetsTaxDeferredExpenseCapitalizedResearchAndDevelopmentCosts
35150000
CY2021Q4 alec Deferred Tax Assets Tax Deferred Expense Capitalized Research And Development Costs
DeferredTaxAssetsTaxDeferredExpenseCapitalizedResearchAndDevelopmentCosts
0
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1608000
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
694000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
175925000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
134788000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
164316000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
122046000
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
11609000
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
12742000
CY2022Q4 alec Deferred Tax Liabilities Depreciation And Amortization
DeferredTaxLiabilitiesDepreciationAndAmortization
5155000
CY2021Q4 alec Deferred Tax Liabilities Depreciation And Amortization
DeferredTaxLiabilitiesDepreciationAndAmortization
5488000
CY2022Q4 alec Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
6454000
CY2021Q4 alec Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
7254000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
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CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
12742000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
42300000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4592000
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
59000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
2406000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
6939000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
8199000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
15138000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
8200000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
2400000
CY2022 alec Reversal Reserves On Uncertain Tax Provisions
ReversalReservesOnUncertainTaxProvisions
0
CY2021 alec Reversal Reserves On Uncertain Tax Provisions
ReversalReservesOnUncertainTaxProvisions
100000
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16925023
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13088350
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12928100

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