$CHRS
Coherus BioSciences Inc

2021 Q2 Form 10-Q Financial Statement

#000155837021010563 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $87.60M $135.7M
YoY Change -35.43% 62.61%
Cost Of Revenue $16.70M $10.14M
YoY Change 64.67% 1587.02%
Gross Profit $70.90M $125.5M
YoY Change -43.52% 51.55%
Gross Profit Margin 80.94% 92.53%
Selling, General & Admin $40.35M $34.05M
YoY Change 18.48% -6.59%
% of Gross Profit 56.9% 27.13%
Research & Development $54.77M $26.17M
YoY Change 109.25% 38.61%
% of Gross Profit 77.24% 20.85%
Depreciation & Amortization $926.0K $800.0K
YoY Change 15.75% 14.29%
% of Gross Profit 1.31% 0.64%
Operating Expenses $95.11M $70.36M
YoY Change 35.17% 25.78%
Operating Profit -$24.16M $65.31M
YoY Change -137.0% 137.55%
Interest Expense $5.747M $5.408M
YoY Change 6.27% 21.99%
% of Operating Profit 8.28%
Other Income/Expense, Net $11.00K $423.0K
YoY Change -97.4% -24.19%
Pretax Income -$29.90M $60.33M
YoY Change -149.56% 155.42%
Income Tax $0.00 $1.300M
% Of Pretax Income 2.15%
Net Earnings -$29.90M $59.03M
YoY Change -150.65% 150.48%
Net Earnings / Revenue -34.13% 43.51%
Basic Earnings Per Share -$0.40 $0.83
Diluted Earnings Per Share -$0.40 $0.70
COMMON SHARES
Basic Shares Outstanding 75.56M 71.10M
Diluted Shares Outstanding 75.56M 88.66M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $454.4M $456.5M
YoY Change -0.46% 307.95%
Cash & Equivalents $329.7M $224.6M
Short-Term Investments $124.7M $231.9M
Other Short-Term Assets $24.10M $19.70M
YoY Change 22.33% 64.17%
Inventory $39.67M $27.19M
Prepaid Expenses
Receivables $141.8M $172.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $660.0M $675.9M
YoY Change -2.34% 228.68%
LONG-TERM ASSETS
Property, Plant & Equipment $18.03M $10.32M
YoY Change 74.71% 82.78%
Goodwill $943.0K $943.0K
YoY Change 0.0% 0.0%
Intangibles $2.620M $2.620M
YoY Change 0.0% 0.0%
Long-Term Investments
YoY Change
Other Assets $10.40M $1.637M
YoY Change 535.31% 11592.86%
Total Long-Term Assets $79.53M $80.75M
YoY Change -1.51% 131.87%
TOTAL ASSETS
Total Short-Term Assets $660.0M $675.9M
Total Long-Term Assets $79.53M $80.75M
Total Assets $739.5M $756.6M
YoY Change -2.26% 214.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.57M $21.18M
YoY Change -31.21% 10.18%
Accrued Expenses $54.90M $25.56M
YoY Change 114.78% 208.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $119.0M $500.0K
YoY Change 23702.2%
Total Short-Term Liabilities $287.1M $129.8M
YoY Change 121.21% 111.94%
LONG-TERM LIABILITIES
Long-Term Debt $287.1M $403.0M
YoY Change -28.77% 127.43%
Other Long-Term Liabilities $751.0K $10.50M
YoY Change -92.85%
Total Long-Term Liabilities $751.0K $413.5M
YoY Change -99.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $287.1M $129.8M
Total Long-Term Liabilities $751.0K $413.5M
Total Liabilities $583.3M $543.2M
YoY Change 7.38% 122.24%
SHAREHOLDERS EQUITY
Retained Earnings -$965.6M -$800.4M
YoY Change 20.64% -18.43%
Common Stock $7.000K $1.014B
YoY Change -100.0% 3.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $156.2M $213.4M
YoY Change
Total Liabilities & Shareholders Equity $739.5M $756.6M
YoY Change -2.26% 214.66%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$29.90M $59.03M
YoY Change -150.65% 150.48%
Depreciation, Depletion And Amortization $926.0K $800.0K
YoY Change 15.75% 14.29%
Cash From Operating Activities -$221.0K $60.20M
YoY Change -100.37% 374.02%
INVESTING ACTIVITIES
Capital Expenditures -$460.0K -$2.400M
YoY Change -80.83% 1100.0%
Acquisitions
YoY Change
Other Investing Activities $23.97M -$236.9M
YoY Change -110.12% -2732.22%
Cash From Investing Activities $23.61M -$239.3M
YoY Change -109.87% -2819.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 46.89M 210.4M
YoY Change -77.71% 6913.33%
NET CHANGE
Cash From Operating Activities -221.0K 60.20M
Cash From Investing Activities 23.61M -239.3M
Cash From Financing Activities 46.89M 210.4M
Net Change In Cash 70.28M 31.30M
YoY Change 124.54% 27.76%
FREE CASH FLOW
Cash From Operating Activities -$221.0K $60.20M
Capital Expenditures -$460.0K -$2.400M
Free Cash Flow $239.0K $62.60M
YoY Change -99.62% 385.27%

Facts In Submission

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Coherus BioSciences, Inc.
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ProceedsFromIssuanceOfCommonStock
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us-gaap Use Of Estimates
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<p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:justify;text-indent:24.5pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make judgements, estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosures. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. These estimates form the basis for making judgments about the carrying values of assets and liabilities when these values are not readily apparent from other sources. Accounting estimates and judgements are inherently uncertain and the actual results could differ from these estimates.</p>
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225057000
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0
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FairValueAssetsLevel1ToLevel2TransfersAmount
0
chrs Available For Sale Marketable Securities Average Maturity Term
AvailableForSaleMarketableSecuritiesAverageMaturityTerm
P10M
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us-gaap Provision For Loan Losses Expensed
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us-gaap Provision For Loan Losses Expensed
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InventoryGross
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InventoryNet
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InventoryNet
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InventoryNoncurrent
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InventoryCurrentAndNoncurrent
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CY2021Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
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us-gaap Depreciation And Amortization
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us-gaap Depreciation And Amortization
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15452000
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EquivalentToConversionPricePerCommonShare
14.815
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LoansPayableCurrent
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CY2021Q2 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
30512000
CY2021Q2 us-gaap Purchase Obligation Due In Second Year
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CY2021Q2 us-gaap Purchase Obligation Due In Third Year
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CY2021Q2 us-gaap Purchase Obligation
PurchaseObligation
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CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2021Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2021Q2 us-gaap Net Income Loss Attributable To Parent Diluted
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CY2020Q2 us-gaap Net Income Loss Attributable To Parent Diluted
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us-gaap Net Income Loss Attributable To Parent Diluted
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NetIncomeLossAttributableToParentDiluted
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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EarningsPerShareBasic
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CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3208580
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3437358
CY2020Q2 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
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us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
96163
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
75559697
CY2020Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
88660280
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
74203858
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
83775353
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.40
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.73
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
37335701
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2021Q2 us-gaap Income Tax Expense Benefit
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CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1300000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2200000

Files In Submission

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0001558370-21-010563.txt Edgar Link pending
0001558370-21-010563-xbrl.zip Edgar Link pending
chrs-20210630.xsd Edgar Link pending
chrs-20210630x10q.htm Edgar Link pending
chrs-20210630x10q_htm.xml Edgar Link completed
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chrs-20210630xex31d2.htm Edgar Link pending
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chrs-20210630_def.xml Edgar Link unprocessable
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Financial_Report.xlsx Edgar Link pending
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