$APVO
Aptevo Therapeutics Inc.

2018 Q3 Form 10-Q Financial Statement

#000156459018029562 Filed on November 14, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $5.824M $6.170M
YoY Change -5.61% -34.4%
Cost Of Revenue $2.437M $1.870M
YoY Change 30.32% -69.66%
Gross Profit $3.387M $4.300M
YoY Change -21.23% 32.63%
Gross Profit Margin 58.16% 69.69%
Selling, General & Admin $6.940M $7.470M
YoY Change -7.1% -36.04%
% of Gross Profit 204.9% 173.72%
Research & Development $8.574M $7.180M
YoY Change 19.42% 0.93%
% of Gross Profit 253.14% 166.98%
Depreciation & Amortization $590.0K $1.270M
YoY Change -53.54% -46.41%
% of Gross Profit 17.42% 29.53%
Operating Expenses $15.51M $14.65M
YoY Change 5.9% -22.05%
Operating Profit -$12.13M -$10.35M
YoY Change 17.17% -88.04%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$440.0K -$440.0K
YoY Change 0.0% -10.75%
Pretax Income -$12.56M -$10.78M
YoY Change 16.53% -87.62%
Income Tax $0.00 -$13.77M
% Of Pretax Income
Net Earnings -$12.56M $37.87M
YoY Change -133.17% -152.78%
Net Earnings / Revenue -215.66% 613.73%
Basic Earnings Per Share $1.77
Diluted Earnings Per Share -$0.56 $1.75
COMMON SHARES
Basic Shares Outstanding 21.39M
Diluted Shares Outstanding 22.67M 21.67M

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.60M $96.80M
YoY Change -61.16% 59.47%
Cash & Equivalents $36.30M $86.23M
Short-Term Investments $9.200M $20.90M
Other Short-Term Assets $6.990M $16.80M
YoY Change -58.39% 300.0%
Inventory $4.000M $1.200M
Prepaid Expenses $5.195M
Receivables $6.200M $500.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $60.40M $115.3M
YoY Change -47.61% 45.16%
LONG-TERM ASSETS
Property, Plant & Equipment $5.608M $6.200M
YoY Change -9.55% 0.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $25.00K $3.250M
YoY Change -99.23%
Total Long-Term Assets $18.53M $15.70M
YoY Change 18.05% -25.92%
TOTAL ASSETS
Total Short-Term Assets $60.40M $115.3M
Total Long-Term Assets $18.53M $15.70M
Total Assets $78.93M $131.0M
YoY Change -39.75% 30.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.800M $900.0K
YoY Change 988.89% -90.0%
Accrued Expenses $3.900M $3.800M
YoY Change 2.63% 11.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $15.44M $14.90M
YoY Change 3.64% -2.19%
LONG-TERM LIABILITIES
Long-Term Debt $19.10M $17.50M
YoY Change 9.14% -3.37%
Other Long-Term Liabilities $300.0K $8.400M
YoY Change -96.43% 1839.95%
Total Long-Term Liabilities $19.40M $25.90M
YoY Change -25.1% 39.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.44M $14.90M
Total Long-Term Liabilities $19.40M $25.90M
Total Liabilities $34.90M $40.70M
YoY Change -14.25% 10.38%
SHAREHOLDERS EQUITY
Retained Earnings -$63.96M
YoY Change -2.72%
Common Stock $157.3M $154.3M
YoY Change 1.95% 3.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $44.00M $90.31M
YoY Change
Total Liabilities & Shareholders Equity $78.90M $131.0M
YoY Change -39.78% 30.21%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$12.56M $37.87M
YoY Change -133.17% -152.78%
Depreciation, Depletion And Amortization $590.0K $1.270M
YoY Change -53.54% -46.41%
Cash From Operating Activities -$11.15M -$1.610M
YoY Change 592.55% 1050.0%
INVESTING ACTIVITIES
Capital Expenditures -$360.0K -$140.0K
YoY Change 157.14% -380.0%
Acquisitions
YoY Change
Other Investing Activities $28.31M $65.49M
YoY Change -56.77% -231.51%
Cash From Investing Activities $27.95M $65.36M
YoY Change -57.24% -231.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -590.0K -10.18M
YoY Change -94.2% -118.41%
NET CHANGE
Cash From Operating Activities -11.15M -1.610M
Cash From Investing Activities 27.95M 65.36M
Cash From Financing Activities -590.0K -10.18M
Net Change In Cash 16.21M 53.57M
YoY Change -69.74% 893.88%
FREE CASH FLOW
Cash From Operating Activities -$11.15M -$1.610M
Capital Expenditures -$360.0K -$140.0K
Free Cash Flow -$10.79M -$1.470M
YoY Change 634.01% 673.68%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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apvo Non Cash Interest Expense And Other
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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apvo Payment Of Tax Liability For Vsted Equity Awards
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us-gaap Use Of Estimates
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<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.</p></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Reclassifications</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-weight:bold;;font-size:6pt;">&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Our financial statements reflect all adjustments that we consider to be necessary for the fair presentation of our results, due to changes in accounting policies, sale of our Hyperimmune Business, and the reclassification of restricted cash.</p></div>
us-gaap Allocated Share Based Compensation Expense
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Cash
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us-gaap Revenue Recognition Milestone Method Description
RevenueRecognitionMilestoneMethodDescription
The date on which the term loans begin to amortize would be extended to February 1, 2019 if we achieved net commercial product revenues of $16.0 million for the twelve month period ending June 30, 2018 and maintain such level of net commercial product revenues for each quarter prior to February 1, 2019 thereafter.
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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apvo Percentage Limitation Of Taxable Income For Net Operating Losses Carryforward
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apvo Tax Cuts And Jobs Act Description
TaxCutsAndJobsActDescription
On December 22, 2017, the President of the United States signed into law Public Law No. 115-97, commonly referred to as the Tax Reform Act, following its passage by the United States Congress. The Tax Act made significant changes to U.S. federal income tax laws, including reduction of the corporate tax rate from 35.0% to 21.0%, limitation of the deduction for net operating losses to 80.0% of current year taxable income and elimination of net operating loss carrybacks, one-time taxation of offshore earning at reduced rates regardless of whether they are repatriated, elimination of U.S. tax on foreign earnings (subject to certain important exceptions), immediate deductions for certain new investments instead of deductions for depreciation expense over time, and modifying or repealing many business deductions.

Files In Submission

Name View Source Status
R4.htm Edgar Link pending
0001564590-18-029562-index-headers.html Edgar Link pending
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