$ARCT
Arcturus Therapeutics Holdings Inc.

2022 Q4 Form 10-Q Financial Statement

#000095017022023969 Filed on November 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $160.3M $13.37M $2.437M
YoY Change 2666.53% 448.58% 4.46%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $11.86M $12.49M $10.86M
YoY Change 9.75% 14.99% 94.97%
% of Gross Profit
Research & Development $26.98M $37.69M $45.40M
YoY Change -17.32% -16.98% 156.5%
% of Gross Profit
Depreciation & Amortization $551.0K $417.0K $289.0K
YoY Change 77.74% 44.29% 31.36%
% of Gross Profit
Operating Expenses $38.84M $50.18M $45.40M
YoY Change 19.02% 10.52% 156.5%
Operating Profit -$36.81M -$53.82M
YoY Change -31.61% 157.05%
Interest Expense -$2.810M $1.541M -$263.0K
YoY Change 176.03% -685.93% 275.71%
% of Operating Profit
Other Income/Expense, Net -$321.0K -$519.0K
YoY Change -38.15%
Pretax Income $118.6M -$35.27M -$54.08M
YoY Change -406.86% -34.79% 157.54%
Income Tax $1.295M $0.00 $0.00
% Of Pretax Income 1.09%
Net Earnings $117.3M -$35.27M -$54.08M
YoY Change -403.51% -34.79% 157.49%
Net Earnings / Revenue 73.21% -263.79% -2219.29%
Basic Earnings Per Share -$1.33 -$2.05
Diluted Earnings Per Share $4.03 -$1.33 -$2.053M
COMMON SHARES
Basic Shares Outstanding 26.49M 26.47M 26.34M
Diluted Shares Outstanding 26.47M 26.34M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $391.9M $237.7M $413.9M
YoY Change 5.77% -42.57% 34.81%
Cash & Equivalents $391.9M $237.7M $413.9M
Short-Term Investments
Other Short-Term Assets $8.686M $6.960M $5.071M
YoY Change 70.25% 37.25% 10.24%
Inventory
Prepaid Expenses
Receivables $2.764M $2.044M $2.015M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $403.3M $246.7M $421.0M
YoY Change 6.43% -41.4% 34.02%
LONG-TERM ASSETS
Property, Plant & Equipment $12.42M $11.35M $4.843M
YoY Change 120.01% 134.3% -41.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $670.0K
YoY Change -100.0% -100.0%
Other Assets $2.094M $2.081M $2.074M
YoY Change 0.82% 0.34% 1974.0%
Total Long-Term Assets $47.05M $46.95M $13.57M
YoY Change 239.67% 245.96% 61.55%
TOTAL ASSETS
Total Short-Term Assets $403.3M $246.7M $421.0M
Total Long-Term Assets $47.05M $46.95M $13.57M
Total Assets $450.4M $293.6M $434.5M
YoY Change 14.66% -32.43% 34.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.449M $17.96M $8.265M
YoY Change -25.94% 117.33% 27.15%
Accrued Expenses $30.23M $25.53M $52.36M
YoY Change 28.52% -51.24% 336.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $60.66M $27.70M $18.48M
YoY Change 169.89% 49.89%
Total Short-Term Liabilities $127.0M $75.85M $118.2M
YoY Change 27.57% -35.85% 322.28%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $32.04M $42.35M
YoY Change -100.0% -24.34% 180.43%
Other Long-Term Liabilities $2.804M $3.676M $14.83M
YoY Change -88.52% -75.21% -16.71%
Total Long-Term Liabilities $2.804M $35.71M $57.17M
YoY Change -93.1% -37.53% 73.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $127.0M $75.85M $118.2M
Total Long-Term Liabilities $2.804M $35.71M $57.17M
Total Liabilities $180.1M $148.0M $175.4M
YoY Change 9.4% -15.65% 188.03%
SHAREHOLDERS EQUITY
Retained Earnings -$338.1M -$455.5M -$308.8M
YoY Change -2.71% 47.51%
Common Stock $27.00K $26.00K
YoY Change 3.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $270.3M $145.7M $259.1M
YoY Change
Total Liabilities & Shareholders Equity $450.4M $293.6M $434.5M
YoY Change 14.66% -32.43% 34.74%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $117.3M -$35.27M -$54.08M
YoY Change -403.51% -34.79% 157.49%
Depreciation, Depletion And Amortization $551.0K $417.0K $289.0K
YoY Change 77.74% 44.29% 31.36%
Cash From Operating Activities $160.3M -$42.41M -$16.65M
YoY Change -477.11% 154.64% 4.87%
INVESTING ACTIVITIES
Capital Expenditures $3.807M -$2.186M -$1.766M
YoY Change -440.52% 23.78% 301.36%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.807M -$2.186M -$1.766M
YoY Change 240.52% 23.78% 301.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.232M -1.220M 692.0K
YoY Change -1070.43% -276.3% -99.63%
NET CHANGE
Cash From Operating Activities 160.3M -42.41M -16.65M
Cash From Investing Activities -3.807M -2.186M -1.766M
Cash From Financing Activities -2.232M -1.220M 692.0K
Net Change In Cash 154.2M -45.81M -17.73M
YoY Change -455.47% 158.43% -110.37%
FREE CASH FLOW
Cash From Operating Activities $160.3M -$42.41M -$16.65M
Capital Expenditures $3.807M -$2.186M -$1.766M
Free Cash Flow $156.5M -$40.22M -$14.89M
YoY Change -478.1% 170.17% -3.58%

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us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
46599000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
962000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
672000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
411000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
515000
us-gaap Repayments Of Debt
RepaymentsOfDebt
2000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-627000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
47786000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-132812000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-47048000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
372569000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
463002000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
239757000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
415954000
us-gaap Interest Paid Net
InterestPaidNet
585000
us-gaap Interest Paid Net
InterestPaidNet
514000
arct Acquisition Of Research And Development In Process Through Issuance Of Common Stock
AcquisitionOfResearchAndDevelopmentInProcessThroughIssuanceOfCommonStock
5000000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2761000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
60000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
30191000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1828000
arct Upfront Fee And Consideration
UpfrontFeeAndConsideration
9200000
CY2022Q3 us-gaap Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
9200000
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
0
CY2022Q3 arct Percentage Of Equity Interest In Joint Venture
PercentageOfEquityInterestInJointVenture
0.49
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-455500000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-347500000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
239800000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
237676000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
413880000
CY2022Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2081000
CY2021Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2074000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
239757000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
415954000
us-gaap Dividends
Dividends
0
us-gaap Dividends
Dividends
0
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
3367000
arct Contract With Customer Asset Additions For Revenue Recognized
ContractWithCustomerAssetAdditionsForRevenueRecognized
1700000
arct Contract With Customer Asset Deductions For Cash Collections
ContractWithCustomerAssetDeductionsForCashCollections
-3023000
CY2022Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
2044000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
63413000
arct Contract With Customer Liability Additions For Advanced Billings
ContractWithCustomerLiabilityAdditionsForAdvancedBillings
1700000
arct Contract With Customer Liability Reclassifications To Accrued Liabilities
ContractWithCustomerLiabilityReclassificationsToAccruedLiabilities
-9572000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-45706000
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
9835000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
13369000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2437000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
45706000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6565000
CY2022Q3 arct Grant Revenue
GrantRevenue
63200000
arct Grant Revenue Outstanding
GrantRevenueOutstanding
63200000
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
16579000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9899000
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5232000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4256000
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11347000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5643000
CY2022Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
400000
CY2021Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
300000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1000000.0
us-gaap Depreciation And Amortization
DepreciationAndAmortization
900000
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7802000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3578000
CY2021Q4 arct Accrued Cystic Fibrosis Foundation Liability
AccruedCysticFibrosisFoundationLiability
2777000
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3783000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1537000
CY2022Q3 arct Clinical Accruals Current
ClinicalAccrualsCurrent
2026000
CY2021Q4 arct Clinical Accruals Current
ClinicalAccrualsCurrent
8675000
CY2022Q3 arct Vinbiocare Contractual Liabilities
VinbiocareContractualLiabilities
5896000
CY2022Q3 arct Other Accrued Research And Development Expenses
OtherAccruedResearchAndDevelopmentExpenses
6022000
CY2021Q4 arct Other Accrued Research And Development Expenses
OtherAccruedResearchAndDevelopmentExpenses
6956000
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
25529000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
23523000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
3000000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
10300000
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
13300000
CY2022Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
700000
CY2021Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
700000
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
2100000
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
2000000.0
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
507021
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
650144
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1457223
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1514023
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9436000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6870000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
24081000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
21397000
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1338000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5482000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5646000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4019000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3603000
CY2022Q3 arct Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
23282000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
43370000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
8369000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
35001000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1400000
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
500000
us-gaap Operating Lease Cost
OperatingLeaseCost
3300000
us-gaap Operating Lease Cost
OperatingLeaseCost
1400000

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0000950170-22-023969.txt Edgar Link pending
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arct-20220930.htm Edgar Link pending
arct-20220930.xsd Edgar Link pending
arct-ex10_36.htm Edgar Link pending
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arct-ex31_1.htm Edgar Link pending
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arct-20220930_pre.xml Edgar Link unprocessable
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