$CHRS
Coherus BioSciences Inc

2024 Q2 Form 10-Q Financial Statement

#000155837024007641 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $64.98M $77.06M $32.44M
YoY Change 10.67% 137.58% -46.04%
Cost Of Revenue $28.37M $34.59M $16.87M
YoY Change 14.17% 104.97% 80.09%
Gross Profit $36.61M $42.48M $15.56M
YoY Change 8.1% 172.95% -69.33%
Gross Profit Margin 56.34% 55.12% 47.98%
Selling, General & Admin $35.17M $56.53M $49.15M
YoY Change -22.1% 15.01% 0.82%
% of Gross Profit 96.05% 133.09% 315.85%
Research & Development $21.96M $28.47M $34.15M
YoY Change -5.64% -16.64% -58.81%
% of Gross Profit 59.97% 67.02% 219.47%
Depreciation & Amortization $500.0K $600.0K $949.0K
YoY Change -37.5% -36.78% 23.73%
% of Gross Profit 1.37% 1.41% 6.1%
Operating Expenses $57.12M $85.00M $83.31M
YoY Change -16.5% 2.03% -36.73%
Operating Profit -$20.51M -$42.53M -$67.75M
YoY Change -40.63% -37.23% -16.29%
Interest Expense $5.334M $11.12M $9.712M
YoY Change -46.35% 14.46% 8.28%
% of Operating Profit
Other Income/Expense, Net $1.467M $2.869M $1.728M
YoY Change -9.28% 66.03% 5300.0%
Pretax Income -$12.92M $102.9M -$75.73M
YoY Change -69.86% -235.85% -21.18%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$12.92M $102.9M -$75.73M
YoY Change -69.86% -235.85% -21.18%
Net Earnings / Revenue -19.88% 133.49% -233.47%
Basic Earnings Per Share -$0.11 $0.91 -$0.96
Diluted Earnings Per Share -$0.11 $0.83 -$0.96
COMMON SHARES
Basic Shares Outstanding 114.7M 112.7M 79.61M
Diluted Shares Outstanding 114.8M 125.5M 79.27M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $159.2M $259.8M $128.1M
YoY Change 10.04% 102.81% -60.67%
Cash & Equivalents $159.2M $259.8M $16.15M
Short-Term Investments $0.00 $111.9M
Other Short-Term Assets $22.96M $21.58M $36.97M
YoY Change -35.28% -41.64% 12.79%
Inventory $62.16M $61.98M $49.41M
Prepaid Expenses
Receivables $175.3M $252.0M $101.5M
Other Receivables $138.3M $32.19M $0.00
Total Short-Term Assets $557.9M $627.5M $315.9M
YoY Change 44.74% 98.62% -38.35%
LONG-TERM ASSETS
Property, Plant & Equipment $3.334M $4.188M $7.724M
YoY Change -51.88% -45.78% -3.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.256M $9.131M $7.825M
YoY Change 9.74% 16.69% -21.4%
Total Long-Term Assets $116.9M $136.1M $86.50M
YoY Change 39.02% 57.3% 6.86%
TOTAL ASSETS
Total Short-Term Assets $557.9M $627.5M $315.9M
Total Long-Term Assets $116.9M $136.1M $86.50M
Total Assets $674.9M $763.5M $402.4M
YoY Change 43.71% 89.74% -32.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $76.82M $38.29M $23.23M
YoY Change 162.37% 64.82% 10.14%
Accrued Expenses $61.04M $115.7M $32.06M
YoY Change 45.99% 260.94% -30.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $175.0M
YoY Change
Total Short-Term Liabilities $463.0M $538.3M $123.4M
YoY Change 173.26% 336.2% -19.73%
LONG-TERM LIABILITIES
Long-Term Debt $264.1M $299.7M $471.6M
YoY Change -44.07% -36.46% 12.17%
Other Long-Term Liabilities $27.70M $2.734M $102.0K
YoY Change 27053.92% 2580.39% 0.0%
Total Long-Term Liabilities $27.70M $2.734M $102.0K
YoY Change 27053.92% 2580.39% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $463.0M $538.3M $123.4M
Total Long-Term Liabilities $27.70M $2.734M $102.0K
Total Liabilities $759.0M $845.4M $598.9M
YoY Change 17.79% 41.15% 3.12%
SHAREHOLDERS EQUITY
Retained Earnings -$1.490B -$1.477B -$1.417B
YoY Change 2.01% 4.18% 23.68%
Common Stock $12.00K $11.00K $8.000K
YoY Change 33.33% 37.5% 14.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$84.11M -$81.84M -$196.5M
YoY Change
Total Liabilities & Shareholders Equity $674.9M $763.5M $402.4M
YoY Change 43.71% 89.74% -32.18%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$12.92M $102.9M -$75.73M
YoY Change -69.86% -235.85% -21.18%
Depreciation, Depletion And Amortization $500.0K $600.0K $949.0K
YoY Change -37.5% -36.78% 23.73%
Cash From Operating Activities $59.73M -$46.77M -$68.73M
YoY Change -253.5% -31.96% 27.18%
INVESTING ACTIVITIES
Capital Expenditures $152.0K
YoY Change -75.28%
Acquisitions
YoY Change
Other Investing Activities $27.66M -$52.00K $17.68M
YoY Change -33.3% -100.29% -150.51%
Cash From Investing Activities $27.66M $202.8M $17.53M
YoY Change -33.14% 1056.93% -149.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -187.9M 887.0K 3.804M
YoY Change -445.93% -76.68% -305.07%
NET CHANGE
Cash From Operating Activities 59.73M -46.77M -68.73M
Cash From Investing Activities 27.66M 202.8M 17.53M
Cash From Financing Activities -187.9M 887.0K 3.804M
Net Change In Cash -100.5M 156.9M -47.40M
YoY Change -277.08% -430.96% -48.2%
FREE CASH FLOW
Cash From Operating Activities $59.73M -$46.77M -$68.73M
Capital Expenditures $152.0K
Free Cash Flow -$68.88M
YoY Change 26.02%

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CY2023Q4 chrs Lease Liabilities Operating And Financing
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CY2024Q1 us-gaap Share Price
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CY2024Q1 us-gaap Business Combination Contingent Consideration Liability Noncurrent
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CY2023Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
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CY2024Q1 us-gaap Deferred Income Tax Liabilities Net
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2734000
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CY2024Q1 us-gaap Revenue From Collaborative Arrangement Excluding Revenue From Contract With Customer
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300000
CY2024Q1 chrs Transition Services Agreement Receivable Current
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CY2022Q1 chrs Collaboration Agreement Option Exercise Fee Per Program
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CY2024Q1 chrs Milestone Payments Amount Per Each Installment
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CY2024Q1 us-gaap Accrued Royalties Current And Noncurrent
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CY2023Q4 us-gaap Accrued Royalties Current And Noncurrent
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CY2024Q1 us-gaap Disposal Group Including Discontinued Operation Consideration
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CY2024Q1 chrs Disposal Group Including Discontinued Operation Additional Consideration For Product Inventory And Prepaid Manufacturing Assets
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17800000
CY2024Q1 chrs Debt Partial Prepayment To Be Made
DebtPartialPrepaymentToBeMade
175000000.0
CY2024Q1 chrs Minimum Net Sales Convenant Level Agreed To Be Maintained Over Past Year
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CY2024Q1 us-gaap Purchase Obligation Due In Next Twelve Months
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30609000
CY2024Q1 us-gaap Purchase Obligation Due In Second Year
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CY2024Q1 us-gaap Purchase Obligation Due In Third Year
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CY2024Q1 us-gaap Purchase Obligation
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CY2024Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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CY2024Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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