$APVO
Aptevo Therapeutics Inc.

2019 Q2 Form 10-Q Financial Statement

#000156459019031118 Filed on August 09, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $7.360M $6.826M $4.071M
YoY Change 7.82% -36.58% 90.06%
Cost Of Revenue $5.985M $2.534M $1.781M
YoY Change 136.19% -57.03% 264.96%
Gross Profit $1.375M $4.292M $2.290M
YoY Change -67.96% -11.81% 38.45%
Gross Profit Margin 18.68% 62.88% 56.25%
Selling, General & Admin $6.538M $7.023M $7.592M
YoY Change -6.91% -19.78% -28.02%
% of Gross Profit 475.49% 163.63% 331.53%
Research & Development $7.733M $9.713M $8.199M
YoY Change -20.39% 43.09% 38.66%
% of Gross Profit 562.4% 226.3% 358.03%
Depreciation & Amortization $580.0K $600.0K $587.0K
YoY Change -3.33% -31.82% -30.2%
% of Gross Profit 42.18% 13.98% 25.63%
Operating Expenses $10.40M $16.74M $15.79M
YoY Change -37.83% 7.68% -4.06%
Operating Profit -$12.90M -$12.44M -$13.50M
YoY Change 3.63% 16.56% 41.53%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$436.0K -$700.0K -$353.0K
YoY Change -37.71% 36.45% -13.05%
Pretax Income -$10.84M -$13.16M -$13.85M
YoY Change -17.6% -13.24% 39.27%
Income Tax
% Of Pretax Income
Net Earnings -$13.33M -$13.14M -$13.85M
YoY Change 1.42% 17.47% 39.31%
Net Earnings / Revenue -181.11% -192.56% -340.31%
Basic Earnings Per Share -$0.58 -$0.63
Diluted Earnings Per Share -$4.140M -$7.874M -$8.822M
COMMON SHARES
Basic Shares Outstanding 22.59M 22.03M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.00M $44.70M $61.70M
YoY Change -53.02% -7.26% 1.31%
Cash & Equivalents $20.96M $20.08M $23.47M
Short-Term Investments $37.50M $49.80M
Other Short-Term Assets $3.170M $12.40M $6.630M
YoY Change -74.44% 96.83% 2.0%
Inventory $6.967M $3.000M $1.285M
Prepaid Expenses $5.200M $4.093M
Receivables $7.378M $6.100M $3.098M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $43.67M $66.20M $77.20M
YoY Change -34.03% -1.49% -0.26%
LONG-TERM ASSETS
Property, Plant & Equipment $4.610M $5.600M $5.900M
YoY Change -17.68% -9.68% -7.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.248M $12.40M $11.20M
YoY Change -89.94%
Total Long-Term Assets $22.43M $23.80M $23.00M
YoY Change -5.76% 20.87% 12.75%
TOTAL ASSETS
Total Short-Term Assets $43.67M $66.20M $77.20M
Total Long-Term Assets $22.43M $23.80M $23.00M
Total Assets $66.10M $90.00M $100.2M
YoY Change -26.56% 3.58% 2.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.90M $9.500M $7.300M
YoY Change 25.31% 79.25% -17.05%
Accrued Expenses $3.600M $2.700M $2.100M
YoY Change 33.33% -6.9% -16.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.167M $5.300M
YoY Change
Total Short-Term Liabilities $16.60M $18.10M $17.30M
YoY Change -8.3% 52.32% 19.31%
LONG-TERM LIABILITIES
Long-Term Debt $19.56M $15.40M $14.00M
YoY Change 27.0% -17.84% -23.91%
Other Long-Term Liabilities $13.00K $500.0K $600.0K
YoY Change -97.4% -75.57% -82.35%
Total Long-Term Liabilities $19.57M $15.90M $14.60M
YoY Change 23.09% -23.53% -33.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.60M $18.10M $17.30M
Total Long-Term Liabilities $19.57M $15.90M $14.60M
Total Liabilities $39.93M $34.00M $31.80M
YoY Change 17.44% -4.15% -12.4%
SHAREHOLDERS EQUITY
Retained Earnings -$152.8M
YoY Change
Common Stock $179.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $26.20M $56.03M $68.36M
YoY Change
Total Liabilities & Shareholders Equity $66.13M $90.00M $100.2M
YoY Change -26.53% 3.58% 2.45%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income -$13.33M -$13.14M -$13.85M
YoY Change 1.42% 17.47% 39.31%
Depreciation, Depletion And Amortization $580.0K $600.0K $587.0K
YoY Change -3.33% -31.82% -30.2%
Cash From Operating Activities -$15.90M -$16.00M -$16.98M
YoY Change -0.63% 27.9% 41.13%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$100.0K $473.0K
YoY Change -100.0% -44.44% -40.43%
Acquisitions
YoY Change
Other Investing Activities $0.00 $12.38M $23.99M
YoY Change -100.0% -40.91% -1275.98%
Cash From Investing Activities $0.00 $12.30M $23.51M
YoY Change -100.0% -40.78% -930.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -110.0K 320.0K -556.0K
YoY Change -134.37% -3300.0% -102.9%
NET CHANGE
Cash From Operating Activities -15.90M -16.00M -16.98M
Cash From Investing Activities 0.000 12.30M 23.51M
Cash From Financing Activities -110.0K 320.0K -556.0K
Net Change In Cash -16.01M -3.380M 5.978M
YoY Change 373.67% -140.97% 37.81%
FREE CASH FLOW
Cash From Operating Activities -$15.90M -$16.00M -$16.98M
Capital Expenditures $0.00 -$100.0K $473.0K
Free Cash Flow -$15.90M -$15.90M -$17.45M
YoY Change 0.0% 28.95% 36.08%

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LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1510000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1387000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1294000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1399000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
6466000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1642000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4824000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y9M18D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1456
CY2016Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
35000000
CY2017Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
10000000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
401000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
449000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
995000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1166000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0
CY2019Q1 apvo Pre Funded Warrants And Rights Outstanding Term
PreFundedWarrantsAndRightsOutstandingTerm
P10Y
CY2019Q1 apvo Prefunded Warrant Expiration Date
PrefundedWarrantExpirationDate
2029-03-11

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