$CADL
Candel Therapeutics, Inc.

2022 Q3 Form 10-Q Financial Statement

#000095017022014970 Filed on August 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $31.00K $31.00K $31.00K
YoY Change 0.0% 0.0% 0.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.536M $3.762M $3.600M
YoY Change 26.51% 84.41% 86.05%
% of Gross Profit
Research & Development $5.376M $5.022M $5.417M
YoY Change 2.11% 52.55% 96.77%
% of Gross Profit
Depreciation & Amortization $205.0K $187.0K $165.0K
YoY Change 876.19% 2571.43% 534.62%
% of Gross Profit
Operating Expenses $8.912M $8.784M $9.017M
YoY Change 10.57% 64.74% 92.34%
Operating Profit -$8.881M -$8.753M -$8.986M
YoY Change 10.61% 65.12% 92.96%
Interest Expense -$176.0K -$365.0K -$175.0K
YoY Change 1157.14% 2333.33% 1358.33%
% of Operating Profit
Other Income/Expense, Net $193.0K $4.604M $8.112M
YoY Change -102.37% -139.09% 4431.84%
Pretax Income -$8.688M -$4.149M -$874.0K
YoY Change -46.24% -75.71% -80.48%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$8.688M -$4.149M -$874.0K
YoY Change -46.24% -75.71% -80.48%
Net Earnings / Revenue -28025.81% -13383.87% -2819.35%
Basic Earnings Per Share -$0.30 -$0.14 -$0.03
Diluted Earnings Per Share -$0.30 -$0.14 -$30.46K
COMMON SHARES
Basic Shares Outstanding 28.89M 28.81M 28.69M
Diluted Shares Outstanding 28.89M 28.81M 28.69M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $77.18M $86.78M $94.32M
YoY Change -12.67% 256.89% 223.55%
Cash & Equivalents $77.18M $86.78M $94.32M
Short-Term Investments
Other Short-Term Assets $1.887M $544.0K $1.325M
YoY Change -26.43% 394.55% 315.36%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $79.07M $87.33M $95.65M
YoY Change -13.06% 257.51% 224.54%
LONG-TERM ASSETS
Property, Plant & Equipment $4.561M $4.545M $4.264M
YoY Change -0.57% -1.32% 0.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $266.0K $266.0K $437.0K
YoY Change -37.12% -84.46% -67.87%
Total Long-Term Assets $5.937M $5.975M $5.916M
YoY Change 18.5% -5.43% 5.21%
TOTAL ASSETS
Total Short-Term Assets $79.07M $87.33M $95.65M
Total Long-Term Assets $5.937M $5.975M $5.916M
Total Assets $85.01M $93.30M $101.6M
YoY Change -11.41% 203.48% 189.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $970.0K $1.584M $1.386M
YoY Change 4.86% 108.7% -8.39%
Accrued Expenses $4.445M $3.791M $3.563M
YoY Change 37.06% 7.97% 8.04%
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 $5.898M $5.878M $5.472M
YoY Change 34.14% 30.8% -0.47%
LONG-TERM LIABILITIES
Long-Term Debt $20.75M $20.63M $20.53M
YoY Change 3735.12% 3859.69% 3988.65%
Other Long-Term Liabilities $6.234M $6.721M $11.80M
YoY Change -77.76% -66.13% 56.73%
Total Long-Term Liabilities $26.98M $27.35M $32.33M
YoY Change -5.58% 34.3% 302.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.898M $5.878M $5.472M
Total Long-Term Liabilities $26.98M $27.35M $32.33M
Total Liabilities $32.88M $33.23M $37.80M
YoY Change -0.28% 33.67% 179.36%
SHAREHOLDERS EQUITY
Retained Earnings -$94.00M -$85.30M -$81.17M
YoY Change 14.79% 29.78%
Common Stock $146.6M $145.8M $144.9M
YoY Change 1.18% 546.62%
Preferred Stock
YoY Change
Treasury Stock (at cost) $448.0K $448.0K
YoY Change
Treasury Stock Shares
Shareholders Equity $52.13M $60.07M $63.76M
YoY Change
Total Liabilities & Shareholders Equity $85.01M $93.30M $101.6M
YoY Change -11.41% 203.48% 189.4%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$8.688M -$4.149M -$874.0K
YoY Change -46.24% -75.71% -80.48%
Depreciation, Depletion And Amortization $205.0K $187.0K $165.0K
YoY Change 876.19% 2571.43% 534.62%
Cash From Operating Activities -$9.384M -$7.097M -$8.053M
YoY Change 36.12% 59.16% 43.11%
INVESTING ACTIVITIES
Capital Expenditures -$215.0K -$635.0K $171.0K
YoY Change -45.15% -10.56% -25.33%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$215.0K -$635.0K -$171.0K
YoY Change -45.15% -10.56% -25.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 22.00K 19.92M
YoY Change -100.0% -93.39% 17682.14%
NET CHANGE
Cash From Operating Activities -9.384M -7.097M -8.053M
Cash From Investing Activities -215.0K -635.0K -171.0K
Cash From Financing Activities 0.000 22.00K 19.92M
Net Change In Cash -9.599M -7.710M 11.69M
YoY Change -114.98% 59.43% -303.55%
FREE CASH FLOW
Cash From Operating Activities -$9.384M -$7.097M -$8.053M
Capital Expenditures -$215.0K -$635.0K $171.0K
Free Cash Flow -$9.169M -$6.462M -$8.224M
YoY Change 41.02% 72.37% 40.44%

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Arial;font-style:italic;min-width:fit-content;">Use of estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Arial;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:3.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">The </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.5pt;font-family:Arial;min-width:fit-content;">preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and related disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. On an ongoing basis, the Company’s management evaluates its estimates, which include but are not limited to management’s judgments of accrued expenses, valuation of stock-based option awards, valuations of warrants, and income taxes. Actual results could differ from those estimates.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.5pt;font-family:Arial;min-width:fit-content;"> </span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.5pt;font-family:Arial;min-width:fit-content;">Prior to the IPO, the Company utilized significant estimates and assumptions in determining the fair value of its common stock. The Company has utilized various valuation methodologies in accordance with the framework of the American Institute of Certified Public Accountants Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued as Compensation (the "Practice Aid"), to estimate the fair value of its common stock and warrants. Each valuation methodology includes estimates and assumptions that require the Company’s judgment. These estimates and assumptions include a number of objective and subjective factors, including external market conditions, the prices at which the Company sold shares of preferred stock, the superior rights and preferences of securities senior to the Company’s common stock at the time of, and the likelihood of, achieving a liquidity event, such as an initial public offering or sale. Significant changes to the key assumptions used in the valuations could result in different fair values of common stock at each valuation</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;"> date. </span>
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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