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Altimmune Inc

2017 Q2 Form 10-Q Financial Statement

#000114420417024254 Filed on May 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2017 Q1 2016 Q4
Revenue $3.038M $299.6K $1.080M
YoY Change 307.25% -70.34% -14.96%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.790M $2.030M $1.800M
YoY Change 118.29% 70.59% 83.67%
% of Gross Profit
Research & Development $5.255M $2.786M $2.380M
YoY Change 280.36% 170.73% 103.42%
% of Gross Profit
Depreciation & Amortization $50.00K $12.97K $20.00K
YoY Change 23.66% -67.59% -33.33%
% of Gross Profit
Operating Expenses $7.049M $4.817M $4.180M
YoY Change 200.2% 368.03% 91.74%
Operating Profit -$4.011M -$4.517M -$5.512M
YoY Change 150.36% 260.09% 486.13%
Interest Expense $97.16K $60.60K -$10.00K
YoY Change 910.15% 5671.71% -96.43%
% of Operating Profit
Other Income/Expense, Net -$92.83K -$61.71K $40.00K
YoY Change 523.7%
Pretax Income -$4.104M -$4.579M -$3.060M
YoY Change 153.8% 278.41% 150.82%
Income Tax -$993.7K -$1.001M $0.00
% Of Pretax Income
Net Earnings -$3.110M -$4.579M $77.80M
YoY Change 92.35% 273.2% -6382.43%
Net Earnings / Revenue -102.38% -1528.45% 7203.85%
Basic Earnings Per Share $1.16
Diluted Earnings Per Share -$7.585M -$19.91M $1.15
COMMON SHARES
Basic Shares Outstanding 68.82M shares 68.82M shares 66.73M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q2 2017 Q1 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.400M $15.80M $2.900M
YoY Change -63.79% 11.27% -81.41%
Cash & Equivalents $8.368M $15.78M $2.876M
Short-Term Investments $0.00
Other Short-Term Assets $1.400M $500.0K $400.0K
YoY Change 250.0% 0.0% 100.0%
Inventory
Prepaid Expenses
Receivables $3.600M $1.000M $400.0K
Other Receivables $3.500M $1.000M $800.0K
Total Short-Term Assets $17.00M $18.29M $4.487M
YoY Change -33.09% 13.62% -73.95%
LONG-TERM ASSETS
Property, Plant & Equipment $293.2K $87.94K $177.9K
YoY Change 59.63% -56.03% -23.89%
Goodwill $35.40M $2.348M $18.76M
YoY Change 1407.33% -16.61%
Intangibles $38.13M $14.95M
YoY Change
Long-Term Investments
YoY Change
Other Assets $22.25K $22.25K
YoY Change -58.32%
Total Long-Term Assets $73.85M $2.436M $33.91M
YoY Change 2816.37% -6.29% 1186.77%
TOTAL ASSETS
Total Short-Term Assets $17.00M $18.29M $4.487M
Total Long-Term Assets $73.85M $2.436M $33.91M
Total Assets $90.84M $20.73M $38.40M
YoY Change 225.24% 10.85% 93.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.131M $839.5K $2.005M
YoY Change 59.02% 319.73% 284.79%
Accrued Expenses $4.300M $1.400M $2.973M
YoY Change 152.94% -30.0% 85.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $500.0K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.528M $2.235M $5.471M
YoY Change 69.12% -14.05% 151.01%
LONG-TERM LIABILITIES
Long-Term Debt $600.0K $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K $442.6K $442.6K
YoY Change -51.41% -11.48% 2.12%
Total Long-Term Liabilities $800.0K $442.6K $442.6K
YoY Change 94.34% -11.48% 2.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.528M $2.235M $5.471M
Total Long-Term Liabilities $800.0K $442.6K $442.6K
Total Liabilities $14.87M $2.677M $6.193M
YoY Change 303.93% -13.64% 92.73%
SHAREHOLDERS EQUITY
Retained Earnings -$38.95M -$32.07M -$31.26M
YoY Change -82.04% -85.74% -86.03%
Common Stock $1.542K $6.882K $692.00
YoY Change -76.2% -89.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $75.98M $29.10M $32.21M
YoY Change
Total Liabilities & Shareholders Equity $90.84M $20.73M $38.40M
YoY Change 225.24% 10.64% 93.33%

Cashflow Statement

Concept 2017 Q2 2017 Q1 2016 Q4
OPERATING ACTIVITIES
Net Income -$3.110M -$4.579M $77.80M
YoY Change 92.35% 273.2% -6382.43%
Depreciation, Depletion And Amortization $50.00K $12.97K $20.00K
YoY Change 23.66% -67.59% -33.33%
Cash From Operating Activities -$7.810M -$3.340M -$1.490M
YoY Change -191.45% 145.59% -18.58%
INVESTING ACTIVITIES
Capital Expenditures -$50.00K $39.58K -$40.00K
YoY Change 66.67% 26288.0% 100.0%
Acquisitions
YoY Change
Other Investing Activities $13.68M $200.0K $0.00
YoY Change
Cash From Investing Activities $13.63M $140.0K -$40.00K
YoY Change -45533.33% 100.0%
FINANCING ACTIVITIES
Cash Dividend Paid $200.3M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -200.0K 3.050M -690.0K
YoY Change -147.62% 15150.0% -2400.0%
NET CHANGE
Cash From Operating Activities -7.810M -3.340M -1.490M
Cash From Investing Activities 13.63M 140.0K -40.00K
Cash From Financing Activities -200.0K 3.050M -690.0K
Net Change In Cash 5.620M -150.0K -2.220M
YoY Change -37.07% -88.81% 21.98%
FREE CASH FLOW
Cash From Operating Activities -$7.810M -$3.340M -$1.490M
Capital Expenditures -$50.00K $39.58K -$40.00K
Free Cash Flow -$7.760M -$3.380M -$1.450M
YoY Change -190.55% 148.47% -19.89%

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CY2017Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Use of Estimates</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Our unaudited condensed consolidated financial statements include significant estimates for our share-based compensation, deferred tax assets, liabilities and valuation allowances, income tax receivable from the carryback of net operating losses, the expected economic life and value of our tangible assets and value of our indefinite lived intangible asset, and the value of our financial instruments, among other things. Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates.</div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2017Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Concentration of Credit Risk</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <i>&#160;</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Financial instruments that potentially subject us to concentrations of credit risk are primarily cash and cash equivalents, short-term investments, and billed and unbilled accounts receivable. We maintain our cash and cash equivalents in the form of U.S. Government money market accounts. Because our billed and unbilled accounts receivable consist of amounts due from the U.S. Government, there is minimal credit risk.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2014Q3 pip Total Contract Funding
TotalContractFunding
15100000 USD

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