$ARDX
ARDELYX, INC.

2017 Q3 Form 10-Q Financial Statement

#000119312517252121 Filed on August 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2016 Q2
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.860M $5.850M $4.850M
YoY Change 35.02% 20.62% 67.82%
% of Gross Profit
Research & Development $15.37M $20.57M $23.84M
YoY Change -38.2% -13.7% 284.61%
% of Gross Profit
Depreciation & Amortization $730.0K $650.0K $320.0K
YoY Change 170.37% 103.13% 100.0%
% of Gross Profit
Operating Expenses $21.23M $26.42M $28.69M
YoY Change -27.31% -7.92% 215.73%
Operating Profit -$21.23M -$26.42M -$28.69M
YoY Change -27.31% -7.92% -416.81%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $501.0K $697.0K $77.00K
YoY Change 196.45% 805.19% -257.14%
Pretax Income -$20.72M -$25.72M -$28.61M
YoY Change -28.61% -10.11% -417.68%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$20.72M -$25.72M -$28.61M
YoY Change -28.61% -10.11% -417.68%
Net Earnings / Revenue
Basic Earnings Per Share -$0.83
Diluted Earnings Per Share -$436.6K -$542.6K -$0.83
COMMON SHARES
Basic Shares Outstanding 47.45M shares 47.39M shares 34.64M shares
Diluted Shares Outstanding 34.64M shares

Balance Sheet

Concept 2017 Q3 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $129.3M $148.7M $146.7M
YoY Change -43.81% 1.38% 3.67%
Cash & Equivalents $59.45M $63.64M $146.7M
Short-Term Investments $69.83M $85.09M
Other Short-Term Assets $4.300M $5.200M $3.700M
YoY Change 4.88% 40.54% 54.17%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $133.6M $153.9M $150.4M
YoY Change -42.94% 2.35% 4.5%
LONG-TERM ASSETS
Property, Plant & Equipment $8.622M $9.335M $4.827M
YoY Change 23.72% 93.39% 18.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $853.0K $842.0K $148.0K
YoY Change 476.35% 468.92% 42.31%
Total Long-Term Assets $9.475M $10.18M $4.975M
YoY Change 33.13% 104.56% 16.65%
TOTAL ASSETS
Total Short-Term Assets $133.6M $153.9M $150.4M
Total Long-Term Assets $9.475M $10.18M $4.975M
Total Assets $143.1M $164.1M $155.4M
YoY Change -40.7% 5.63% 4.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.723M $4.713M $4.746M
YoY Change -72.64% -0.7% 76.83%
Accrued Expenses $13.30M $12.80M $8.500M
YoY Change 26.67% 50.59% 193.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.73M $18.39M $14.06M
YoY Change -10.82% 30.77% 153.53%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $741.0K $756.0K $713.0K
YoY Change -6.08% 6.03% 86.65%
Total Long-Term Liabilities $741.0K $756.0K $713.0K
YoY Change -6.08% 6.03% 86.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.73M $18.39M $14.06M
Total Long-Term Liabilities $741.0K $756.0K $713.0K
Total Liabilities $16.47M $19.14M $14.77M
YoY Change -10.62% 29.58% 149.22%
SHAREHOLDERS EQUITY
Retained Earnings -$288.3M -$267.6M -$153.6M
YoY Change 57.9% 74.26% 131.41%
Common Stock $415.0M $412.6M $294.2M
YoY Change 2.33% 40.26% 41.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $126.6M $145.0M $140.6M
YoY Change
Total Liabilities & Shareholders Equity $143.1M $164.1M $155.4M
YoY Change -40.7% 5.63% 4.85%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$20.72M -$25.72M -$28.61M
YoY Change -28.61% -10.11% -417.68%
Depreciation, Depletion And Amortization $730.0K $650.0K $320.0K
YoY Change 170.37% 103.13% 100.0%
Cash From Operating Activities -$19.24M -$23.89M -$24.90M
YoY Change -22.48% -4.06% -17.6%
INVESTING ACTIVITIES
Capital Expenditures -$420.0K -$790.0K -$300.0K
YoY Change -73.91% 163.33% -76.19%
Acquisitions
YoY Change
Other Investing Activities $15.23M $17.08M
YoY Change -121.84%
Cash From Investing Activities $14.81M $16.29M -$300.0K
YoY Change -120.76% -5530.0% -76.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 260.0K 10.00K 190.0K
YoY Change -99.76% -94.74% -99.75%
NET CHANGE
Cash From Operating Activities -19.24M -23.89M -24.90M
Cash From Investing Activities 14.81M 16.29M -300.0K
Cash From Financing Activities 260.0K 10.00K 190.0K
Net Change In Cash -4.170M -7.590M -25.01M
YoY Change -130.44% -69.65% -157.87%
FREE CASH FLOW
Cash From Operating Activities -$19.24M -$23.89M -$24.90M
Capital Expenditures -$420.0K -$790.0K -$300.0K
Free Cash Flow -$18.82M -$23.10M -$24.60M
YoY Change -18.91% -6.1% -15.06%

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Although management believes these estimates are based upon reasonable assumptions within the bounds of its knowledge of the Company&#x2019;s business and operations, actual results could differ materially from those estimates.</p> </div>
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-28613000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-28690000
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2016Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
200000
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
23838000
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34636559 shares
CY2016Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
20118 shares
CY2017Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6600000 shares
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.54
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2790000
CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5846000
CY2017Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-25712000
CY2017Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
697000
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
26418000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-25721000
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-25721000
CY2017Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
9000
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-26418000
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2017Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
200000
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20572000
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
47403243 shares
CY2017Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
46858 shares

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