$ALEC
Alector Inc

2024 Q1 Form 10-K Financial Statement

#000095017024021183 Filed on February 27, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $15.89M $15.19M $97.06M
YoY Change -3.96% 5.19% -27.36%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $14.43M $14.92M $56.69M
YoY Change -2.32% -3.02% -7.12%
% of Gross Profit
Research & Development $45.17M $47.72M $192.1M
YoY Change -12.95% -12.42% -8.7%
% of Gross Profit
Depreciation & Amortization $1.443M $1.437M $5.725M
YoY Change 6.1% 3.08% 0.19%
% of Gross Profit
Operating Expenses $59.60M $62.64M $248.8M
YoY Change -10.59% -10.35% -8.34%
Operating Profit -$43.71M -$151.7M
YoY Change -12.78% 10.09%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $7.636M $7.685M $26.56M
YoY Change 48.01% 105.98% 241.49%
Pretax Income -$36.07M -$39.77M -$125.2M
YoY Change -19.76% -23.09% -3.75%
Income Tax $7.000K $1.666M $5.212M
% Of Pretax Income
Net Earnings -$36.08M -$41.43M -$130.4M
YoY Change -21.32% -20.97% -2.19%
Net Earnings / Revenue -227.01% -272.77% -134.34%
Basic Earnings Per Share -$0.38 -$1.56
Diluted Earnings Per Share -$0.38 -$0.49 -$1.56
COMMON SHARES
Basic Shares Outstanding 95.75M 84.14M 83.73M
Diluted Shares Outstanding 93.81M 83.73M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $562.1M $548.9M $548.9M
YoY Change -16.02% -23.0% -23.0%
Cash & Equivalents $72.55M $74.56M $74.56M
Short-Term Investments $489.5M $474.3M $474.3M
Other Short-Term Assets $19.31M $16.95M $16.95M
YoY Change 61.24% 54.1% 54.1%
Inventory
Prepaid Expenses
Receivables $0.00 $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $581.4M $565.8M $565.8M
YoY Change -15.25% -22.11% -22.11%
LONG-TERM ASSETS
Property, Plant & Equipment $20.84M $21.86M $47.06M
YoY Change -16.65% -14.34% -11.77%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.402M $7.418M $8.964M
YoY Change -15.92% 15.74% 13.74%
Total Long-Term Assets $54.10M $56.02M $56.02M
YoY Change -13.21% -8.48% -8.48%
TOTAL ASSETS
Total Short-Term Assets $581.4M $565.8M $565.8M
Total Long-Term Assets $54.10M $56.02M $56.02M
Total Assets $635.5M $621.8M $621.8M
YoY Change -15.08% -21.05% -21.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.586M $3.775M $3.775M
YoY Change 46.71% -9.88% -9.88%
Accrued Expenses $19.39M $30.38M $44.06M
YoY Change 4.33% 9.39% 6.44%
Deferred Revenue $73.35M $82.98M
YoY Change 18.74% 72.04%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $164.9M $177.9M $177.9M
YoY Change 66.08% 89.69% 89.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.373M $1.373M $309.7M
YoY Change 52.9% 80.9% -35.39%
Total Long-Term Liabilities $1.373M $1.373M $309.7M
YoY Change 52.9% 80.9% -35.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $164.9M $177.9M $177.9M
Total Long-Term Liabilities $1.373M $1.373M $309.7M
Total Liabilities $456.6M $487.7M $487.7M
YoY Change -19.23% -14.92% -14.92%
SHAREHOLDERS EQUITY
Retained Earnings -$746.2M -$710.1M
YoY Change 19.28% 22.49%
Common Stock $9.000K $8.000K
YoY Change 12.5% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $178.9M $134.2M $134.2M
YoY Change
Total Liabilities & Shareholders Equity $635.5M $621.8M $621.8M
YoY Change -15.08% -21.05% -21.05%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$36.08M -$41.43M -$130.4M
YoY Change -21.32% -20.97% -2.19%
Depreciation, Depletion And Amortization $1.443M $1.437M $5.725M
YoY Change 6.1% 3.08% 0.19%
Cash From Operating Activities -$61.35M -$46.07M -$184.2M
YoY Change 26.36% -5.84% 805.91%
INVESTING ACTIVITIES
Capital Expenditures $533.0K $233.0K $2.381M
YoY Change -48.0% -69.58% -42.17%
Acquisitions
YoY Change
Other Investing Activities -$11.23M $18.30M $104.3M
YoY Change -112.52% -4.4% -167.33%
Cash From Investing Activities -$11.77M $18.07M $101.9M
YoY Change -113.26% -1.69% -164.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 71.11M 590.0K 2.550M
YoY Change 6490.18% -7.23% -43.51%
NET CHANGE
Cash From Operating Activities -61.35M -46.07M -184.2M
Cash From Investing Activities -11.77M 18.07M 101.9M
Cash From Financing Activities 71.11M 590.0K 2.550M
Net Change In Cash -2.003M -27.41M -79.69M
YoY Change -104.86% -8.36% -54.42%
FREE CASH FLOW
Cash From Operating Activities -$61.35M -$46.07M -$184.2M
Capital Expenditures $533.0K $233.0K $2.381M
Free Cash Flow -$61.88M -$46.30M -$186.5M
YoY Change 24.82% -6.82% 663.08%

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IncreaseDecreaseInOtherOperatingAssets
1009000
CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
835000
CY2021 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2957000
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-377000
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-572000
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1917000
CY2023 alec Increase Decrease In Accrued Liabilities And Accrued Clinical Supply Costs
IncreaseDecreaseInAccruedLiabilitiesAndAccruedClinicalSupplyCosts
2546000
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
CY2023 alec Increase Decrease In Payable To Collaboration Partner
IncreaseDecreaseInPayableToCollaborationPartner
7703000
CY2022 alec Increase Decrease In Payable To Collaboration Partner
IncreaseDecreaseInPayableToCollaborationPartner
0
CY2021 alec Increase Decrease In Payable To Collaboration Partner
IncreaseDecreaseInPayableToCollaborationPartner
0
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-66782000
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
66383000
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
292915000
CY2023 alec Increase Decrease In Refund Liability To Collaboration Partner
IncreaseDecreaseInRefundLiabilityToCollaborationPartner
24512000
CY2022 alec Increase Decrease In Refund Liability To Collaboration Partner
IncreaseDecreaseInRefundLiabilityToCollaborationPartner
0
CY2021 alec Increase Decrease In Refund Liability To Collaboration Partner
IncreaseDecreaseInRefundLiabilityToCollaborationPartner
0
CY2023 alec Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-4968000
CY2022 alec Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-4274000
CY2021 alec Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-4012000
CY2023 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
614000
CY2022 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
601000
CY2021 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-314000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-184162000
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
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2381000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4117000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3247000
CY2023 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
551729000
CY2022 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
556898000
CY2021 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
343402000
CY2023 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
652523000
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
CY2023 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
3505000
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
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
101918000
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
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1079000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3059000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
28530000
CY2023 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1471000
CY2022 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1455000
CY2021 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1765000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2550000
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
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-79694000
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
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
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
76101000
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
CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
172000
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
493000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
705000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="margin-left:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-left:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="margin-left:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
74555000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
154323000
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1546000
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1472000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
76101000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
155795000
CY2023 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
0
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
200000
CY2023 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1100000
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1200000
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
800000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
503100000
CY2023Q4 alec Available For Sale Securities Debt Maturities Over One Year Through Two Years Fairvalue
AvailableForSaleSecuritiesDebtMaturitiesOverOneYearThroughTwoYearsFairvalue
41100000
CY2023 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
3500000
CY2021 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
10700000
CY2023Q4 alec Indemnification Agreement Liability
IndemnificationAgreementLiability
0
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
49911000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
48133000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
28050000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
22612000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21861000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
25521000
CY2023Q4 alec Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
13539000
CY2022Q4 alec Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
12321000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
15297000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
12758000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1119000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1983000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
423000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
709000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
30378000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
27771000
CY2023 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.
CY2023 alec Lease Expiration Year
LeaseExpirationYear
2029
CY2023Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P10Y
CY2019 us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
15700000
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1500000
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
6626000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
6638000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
6204000
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
3149000
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
2785000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
3046000
CY2023 alec Sublease Income And Reimbursement Of Variable Lease Cost1
SubleaseIncomeAndReimbursementOfVariableLeaseCost1
2482000
CY2022 alec Sublease Income And Reimbursement Of Variable Lease Cost1
SubleaseIncomeAndReimbursementOfVariableLeaseCost1
1872000
CY2021 alec Sublease Income And Reimbursement Of Variable Lease Cost1
SubleaseIncomeAndReimbursementOfVariableLeaseCost1
2141000
CY2023 us-gaap Lease Cost
LeaseCost
7293000
CY2022 us-gaap Lease Cost
LeaseCost
7551000
CY2021 us-gaap Lease Cost
LeaseCost
7109000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y2M12D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.085
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
8400000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
8200000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
7900000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
8855000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9161000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
9477000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
9804000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
8969000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
2209000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
48475000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
9557000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
38918000
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
42798000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
46146000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
40785000
CY2021 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
7042000
CY2023 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
14460000
CY2022 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
15138000
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
4178000
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
2209000
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1034000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1045000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5212000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3254000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-26188000
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-27205000
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-7627000
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-431000
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
CY2023 alec Income Tax Reconciliation Uncertain Tax Positions
IncomeTaxReconciliationUncertainTaxPositions
612000
CY2022 alec Income Tax Reconciliation Uncertain Tax Positions
IncomeTaxReconciliationUncertainTaxPositions
2687000
CY2021 alec Income Tax Reconciliation Uncertain Tax Positions
IncomeTaxReconciliationUncertainTaxPositions
0
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
4842000
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
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
40661000
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
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
176000
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-86000
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-161000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5212000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3254000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
12448000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
20963000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
931000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
806000
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
26682000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
26319000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
15311000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
13351000
CY2023Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
63004000
CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
67673000
CY2023Q4 alec Deferred Tax Assets Lease Liabilities
DeferredTaxAssetsLeaseLiabilities
9030000
CY2022Q4 alec Deferred Tax Assets Lease Liabilities
DeferredTaxAssetsLeaseLiabilities
10055000
CY2023Q4 alec Deferred Tax Assets Tax Deferred Expense Capitalized Research And Development Costs
DeferredTaxAssetsTaxDeferredExpenseCapitalizedResearchAndDevelopmentCosts
62305000
CY2022Q4 alec Deferred Tax Assets Tax Deferred Expense Capitalized Research And Development Costs
DeferredTaxAssetsTaxDeferredExpenseCapitalizedResearchAndDevelopmentCosts
35150000
CY2023Q4 alec Deferred Tax Assets Refund Liability
DeferredTaxAssetsRefundLiability
24707000
CY2022Q4 alec Deferred Tax Assets Refund Liability
DeferredTaxAssetsRefundLiability
0
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
521000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1608000
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
214939000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
175925000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
204550000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
164316000
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
10389000
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
11609000
CY2023Q4 alec Deferred Tax Liabilities Depreciation And Amortization
DeferredTaxLiabilitiesDepreciationAndAmortization
4544000
CY2022Q4 alec Deferred Tax Liabilities Depreciation And Amortization
DeferredTaxLiabilitiesDepreciationAndAmortization
5155000
CY2023Q4 alec Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
5845000
CY2022Q4 alec Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
6454000
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
10389000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
11609000
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
40200000
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
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
594000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2588000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
3071000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
20203000
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
200000
CY2023 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
5100000
CY2022 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
8200000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2600000
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
600000
CY2022 alec Reversal Reserves On Uncertain Tax Provisions
ReversalReservesOnUncertainTaxProvisions
0
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18348694
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
CY2023Q1 alec Percentage Of Reduction In Workforce
PercentageOfReductionInWorkforce
0.11
CY2023Q1 alec Number Of Reduction In Workforce
NumberOfReductionInWorkforce
30
CY2023 us-gaap Restructuring Charges
RestructuringCharges
1700000
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
100000
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0000950170-24-021183.txt Edgar Link pending
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alec-20231231.htm Edgar Link pending
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