$BLTE
BELITE BIO, INC

2023 Q4 Form 20-F Financial Statement

#000110465924033149 Filed on March 12, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.093M $6.824M $3.952M
YoY Change -47.04% 72.67% 66.19%
% of Gross Profit
Research & Development $4.862M $24.84M $8.869M
YoY Change -45.18% 180.12% 19.54%
% of Gross Profit
Depreciation & Amortization $139.0K
YoY Change 117.19%
% of Gross Profit
Operating Expenses $6.955M $31.67M $12.82M
YoY Change -45.75% 147.0% 30.87%
Operating Profit -$31.67M
YoY Change 147.0%
Interest Expense $45.00K $173.0K
YoY Change 181.25% 32.06%
% of Operating Profit
Other Income/Expense, Net -$36.00K $45.00K
YoY Change -73.99%
Pretax Income -$6.991M -$31.62M -$12.65M
YoY Change -44.73% 150.02% 30.85%
Income Tax -$1.000K $9.000K $0.00
% Of Pretax Income
Net Earnings -$6.990M -$31.63M -$12.65M
YoY Change -44.73% 151.05% 30.85%
Net Earnings / Revenue
Basic Earnings Per Share -$1.19
Diluted Earnings Per Share -$0.25 -$1.19 -$0.63
COMMON SHARES
Basic Shares Outstanding 29.15M 26.59M 24.90M
Diluted Shares Outstanding 26.59M

Balance Sheet

Concept 2023 Q4 2023 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $88.16M $88.16M $42.09M
YoY Change 109.45% 109.45% 142.67%
Cash & Equivalents $88.20M $42.10M
Short-Term Investments
Other Short-Term Assets $916.0K $916.0K $699.0K
YoY Change 31.04% 31.04% 992.19%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $89.94M $89.94M $42.81M
YoY Change 110.11% 110.11% 145.58%
LONG-TERM ASSETS
Property, Plant & Equipment $1.301M $1.301M $541.0K
YoY Change 140.48% -3.41% 475.53%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.401M $3.401M $119.0K
YoY Change 2757.98% 2757.98% -85.54%
Total Long-Term Assets $4.702M $4.702M $1.466M
YoY Change 220.74% 220.74% 59.87%
TOTAL ASSETS
Total Short-Term Assets $89.94M $89.94M $42.81M
Total Long-Term Assets $4.702M $4.702M $1.466M
Total Assets $94.64M $94.64M $44.27M
YoY Change 113.77% 113.77% 141.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $3.484M $3.484M $1.906M
YoY Change 82.79% 71.63% 34.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.633M $3.633M $2.104M
YoY Change 72.67% 72.67% 28.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $578.0K $578.0K $668.0K
YoY Change -13.47% -13.47%
Total Long-Term Liabilities $578.0K $578.0K $668.0K
YoY Change -13.47% -13.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.633M $3.633M $2.104M
Total Long-Term Liabilities $578.0K $578.0K $668.0K
Total Liabilities $4.211M $4.211M $2.772M
YoY Change 51.91% 51.91% 69.54%
SHAREHOLDERS EQUITY
Retained Earnings -$71.50M -$39.90M
YoY Change 79.2% 46.69%
Common Stock $3.000K $3.000K
YoY Change 0.0% 200.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $90.43M $90.43M $41.50M
YoY Change
Total Liabilities & Shareholders Equity $94.64M $94.64M $44.27M
YoY Change 113.77% 113.77% 141.3%

Cashflow Statement

Concept 2023 Q4 2023 2022 Q4
OPERATING ACTIVITIES
Net Income -$6.990M -$31.63M -$12.65M
YoY Change -44.73% 151.05% 30.85%
Depreciation, Depletion And Amortization $139.0K
YoY Change 117.19%
Cash From Operating Activities -$29.84M
YoY Change 160.4%
INVESTING ACTIVITIES
Capital Expenditures $63.00K
YoY Change -84.01%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$63.00K
YoY Change -84.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $22.00M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 75.96M
YoY Change 105.5%
NET CHANGE
Cash From Operating Activities -29.84M
Cash From Investing Activities -63.00K
Cash From Financing Activities 75.96M
Net Change In Cash 46.06M
YoY Change 86.13%
FREE CASH FLOW
Cash From Operating Activities -$29.84M
Capital Expenditures $63.00K
Free Cash Flow -$29.90M
YoY Change 152.28%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in our financial statements and accompanying notes. Significant accounting estimates reflected in the Company’s consolidated financial statements include, but are not limited to, valuation of ordinary shares, warrants, share options, valuation allowance for deferred income tax assets, useful lives for property and equipment, right-of-use (“ROU”) assets, operating lease liabilities and share-based compensation. Management bases the estimates on historical experience and various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Accordingly, actual results could differ from those estimates.</p>
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