$ARCT
Arcturus Therapeutics Holdings Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024090905 Filed on August 05, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $41.67M $49.86M
YoY Change -7.68% 373.99%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $13.28M $12.32M
YoY Change -0.93% -6.87%
% of Gross Profit
Research & Development $39.13M $58.67M
YoY Change -23.38% 11.39%
% of Gross Profit
Depreciation & Amortization $912.0K $909.0K
YoY Change 11.22% 23.34%
% of Gross Profit
Operating Expenses $52.41M $70.99M
YoY Change -18.69% 7.73%
Operating Profit -$10.74M -$21.13M
YoY Change -44.41% -61.85%
Interest Expense $3.617M $3.760M
YoY Change -9.58% 10.56%
% of Operating Profit
Other Income/Expense, Net $3.818M $4.148M
YoY Change -4.09% 27.55%
Pretax Income -$7.120M -$17.37M
YoY Change -53.55% -66.59%
Income Tax -$200.0K -$200.0K
% Of Pretax Income
Net Earnings -$6.903M -$17.22M
YoY Change -57.45% -67.24%
Net Earnings / Revenue -16.56% -34.53%
Basic Earnings Per Share -$0.26 -$0.64
Diluted Earnings Per Share -$0.26 -$0.64
COMMON SHARES
Basic Shares Outstanding 27.04M 26.93M
Diluted Shares Outstanding 27.06M 26.97M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $237.2M $260.3M
YoY Change -23.96% -19.52%
Cash & Equivalents $237.2M $260.3M
Short-Term Investments
Other Short-Term Assets $63.44M $62.59M
YoY Change 47.2% 6.14%
Inventory
Prepaid Expenses
Receivables $30.20M $24.09M
Other Receivables $0.00 $0.00
Total Short-Term Assets $330.8M $347.0M
YoY Change -15.88% -9.93%
LONG-TERM ASSETS
Property, Plant & Equipment $10.35M $11.18M
YoY Change -18.6% -74.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.885M $1.885M
YoY Change -91.47% -11.38%
Total Long-Term Assets $39.83M $41.60M
YoY Change -38.13% -8.37%
TOTAL ASSETS
Total Short-Term Assets $330.8M $347.0M
Total Long-Term Assets $39.83M $41.60M
Total Assets $370.7M $388.6M
YoY Change -19.01% -9.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.13M $13.91M
YoY Change -44.83% 2.1%
Accrued Expenses $32.40M $35.45M
YoY Change 13.46% 23.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $69.46M $91.72M
YoY Change -20.78% 1.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $39.33M $38.31M
YoY Change 3929.2% -30.51%
Total Long-Term Liabilities $39.33M $38.31M
YoY Change 87.48% -30.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $69.46M $91.72M
Total Long-Term Liabilities $39.33M $38.31M
Total Liabilities $108.8M $130.0M
YoY Change -38.74% -10.62%
SHAREHOLDERS EQUITY
Retained Earnings -$418.8M -$411.9M
YoY Change 17.57% 21.18%
Common Stock $27.00K $27.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $261.9M $258.6M
YoY Change
Total Liabilities & Shareholders Equity $370.7M $388.6M
YoY Change -19.01% -9.76%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$6.903M -$17.22M
YoY Change -57.45% -67.24%
Depreciation, Depletion And Amortization $912.0K $909.0K
YoY Change 11.22% 23.34%
Cash From Operating Activities -$23.76M -$30.14M
YoY Change -26.68% -159.33%
INVESTING ACTIVITIES
Capital Expenditures $80.00K $328.0K
YoY Change -91.84% -7.34%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$80.00K -$328.0K
YoY Change -91.84% -7.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 693.0K 2.403M
YoY Change -96.83% 2456.38%
NET CHANGE
Cash From Operating Activities -23.76M -30.14M
Cash From Investing Activities -80.00K -328.0K
Cash From Financing Activities 693.0K 2.403M
Net Change In Cash -23.15M -28.07M
YoY Change 100.44% -155.53%
FREE CASH FLOW
Cash From Operating Activities -$23.76M -$30.14M
Capital Expenditures $80.00K $328.0K
Free Cash Flow -$23.84M -$30.47M
YoY Change -28.59% -160.39%

Facts In Submission

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us-gaap Interest Paid Net
InterestPaidNet
2102000
arct Non Cash Asset Disposal
NonCashAssetDisposal
473000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2736000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
577000
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-411900000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-367900000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
317200000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2024Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1900000
CY2023Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2100000
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
260329000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
323471000
CY2024Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
55000000
CY2023Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
55000000
CY2024Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1885000
CY2023Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2127000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
317214000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
380598000
us-gaap Dividends
Dividends
0
us-gaap Dividends
Dividends
0
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
32064000
arct Contract With Customer Asset Additions
ContractWithCustomerAssetAdditions
55132000
arct Contract With Customer Asset Deductions
ContractWithCustomerAssetDeductions
-63111000
CY2024Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
24085000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
87325000
arct Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
54252000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-87871000
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
53706000
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
21262000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
21167000
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10080000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8740000
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11182000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12427000
CY2024Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
900000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1800000
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
700000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1300000
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9206000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5918000
CY2024Q2 arct Accrued Cystic Fibrosis Foundation Liability
AccruedCysticFibrosisFoundationLiability
6870000
CY2023Q4 arct Accrued Cystic Fibrosis Foundation Liability
AccruedCysticFibrosisFoundationLiability
7633000
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
641000
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3917000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4309000
CY2024Q2 arct Clinical Trial Accruals Current
ClinicalTrialAccrualsCurrent
968000
CY2023Q4 arct Clinical Trial Accruals Current
ClinicalTrialAccrualsCurrent
2333000
CY2024Q2 arct Vinbiocare Contractual Liabilities
VinbiocareContractualLiabilities
2514000
CY2023Q4 arct Vinbiocare Contractual Liabilities
VinbiocareContractualLiabilities
2514000
CY2024Q2 arct Other Accrued Research And Development Expenses
OtherAccruedResearchAndDevelopmentExpenses
11975000
CY2023Q4 arct Other Accrued Research And Development Expenses
OtherAccruedResearchAndDevelopmentExpenses
8533000
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
35450000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
31881000
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1100000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1300000
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1000000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
800000
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9424000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8383000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19512000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16565000
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-200000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
600000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
700000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2838000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5019000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5274000
CY2024Q2 arct Lessee Operating Lease Liability Payments Due After Year Three
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearThree
23703000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
36834000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5953000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
30881000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y6M
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.048
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1500000
us-gaap Operating Lease Cost
OperatingLeaseCost
2900000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1400000
us-gaap Operating Lease Cost
OperatingLeaseCost
2800000

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