$CRSP
CRISPR Therapeutics AG

2020 Q1 Form 10-Q Financial Statement

#000156459020019278 Filed on April 28, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $157.0K $328.0K
YoY Change -52.13% -75.85%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $19.60M $14.90M
YoY Change 31.54% 69.32%
% of Gross Profit
Research & Development $54.19M $33.82M
YoY Change 60.23% 73.28%
% of Gross Profit
Depreciation & Amortization $2.091M $812.0K
YoY Change 157.51% -1.69%
% of Gross Profit
Operating Expenses $73.74M $48.75M
YoY Change 51.26% 71.93%
Operating Profit -$73.59M -$48.42M
YoY Change 51.96% 79.36%
Interest Expense $0.00 -$1.000M
YoY Change -100.0% -9.09%
% of Operating Profit
Other Income/Expense, Net $4.232M $100.0K
YoY Change 4132.0% -108.22%
Pretax Income -$69.35M -$48.32M
YoY Change 43.52% 71.27%
Income Tax $400.0K $100.0K
% Of Pretax Income
Net Earnings -$69.73M -$48.41M
YoY Change 44.05% 71.05%
Net Earnings / Revenue -44414.65% -14758.54%
Basic Earnings Per Share -$1.15 -$0.93
Diluted Earnings Per Share -$1.15 -$0.93
COMMON SHARES
Basic Shares Outstanding 60.85M 52.09M
Diluted Shares Outstanding 60.85M 52.09M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $889.7M $437.5M
YoY Change 103.36% 28.0%
Cash & Equivalents $889.7M $437.5M
Short-Term Investments
Other Short-Term Assets $14.50M $11.90M
YoY Change 21.85% 40.0%
Inventory
Prepaid Expenses
Receivables $25.10M $331.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $929.3M $449.8M
YoY Change 106.6% 27.97%
LONG-TERM ASSETS
Property, Plant & Equipment $31.77M $18.87M
YoY Change 68.37% -0.19%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $662.0K $3.800M
YoY Change -82.58% 565.5%
Total Long-Term Assets $78.00M $48.10M
YoY Change 62.15% 109.38%
TOTAL ASSETS
Total Short-Term Assets $929.3M $449.8M
Total Long-Term Assets $78.00M $48.10M
Total Assets $1.007B $497.9M
YoY Change 102.31% 32.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.28M $7.100M
YoY Change 58.83% 178.87%
Accrued Expenses $21.92M $20.60M
YoY Change 6.43% 101.43%
Deferred Revenue $803.0K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $55.09M $28.40M
YoY Change 93.96% 97.29%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $11.95M $89.70M
YoY Change -86.68% 30000.67%
Total Long-Term Liabilities $11.95M $89.70M
YoY Change -86.68% 30000.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $55.09M $28.40M
Total Long-Term Liabilities $11.95M $89.70M
Total Liabilities $121.2M $118.1M
YoY Change 2.63% 40.4%
SHAREHOLDERS EQUITY
Retained Earnings -$294.4M
YoY Change
Common Stock $1.181B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $63.00K
YoY Change
Treasury Stock Shares $232.4K $307.9K
Shareholders Equity $886.1M $379.8M
YoY Change
Total Liabilities & Shareholders Equity $1.007B $497.9M
YoY Change 102.32% 32.96%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$69.73M -$48.41M
YoY Change 44.05% 71.05%
Depreciation, Depletion And Amortization $2.091M $812.0K
YoY Change 157.51% -1.69%
Cash From Operating Activities -$52.18M -$43.74M
YoY Change 19.29% 92.78%
INVESTING ACTIVITIES
Capital Expenditures $2.991M $1.097M
YoY Change 172.65% 97.66%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.991M -$1.097M
YoY Change 172.65% 97.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $23.89M
YoY Change -80.51%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.132M 25.73M
YoY Change -95.6% -79.46%
NET CHANGE
Cash From Operating Activities -52.18M -43.74M
Cash From Investing Activities -2.991M -1.097M
Cash From Financing Activities 1.132M 25.73M
Net Change In Cash -54.06M -19.10M
YoY Change 183.03% -118.72%
FREE CASH FLOW
Cash From Operating Activities -$52.18M -$43.74M
Capital Expenditures $2.991M $1.097M
Free Cash Flow -$55.17M -$44.83M
YoY Change 23.05% 92.89%

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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:6.67%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. <span style="color:#212529;">On an ongoing basis, the Company’s management evaluates its estimates, which include, but are not limited to, revenue recognition, equity-based compensation expense and reported amounts of expenses during the period. Significant estimates in these consolidated financial statements have been made in connection with revenue recognition and equity-based compensation expense. The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results may differ from those estimates or assumptions.</span><span style="color:#000000;"> Changes in estimates are reflected in reported results in the period in which they become known.</span></p>
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CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
9000
CY2020Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
21924000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
30180000
CY2020Q1 crsp Joint Venture Agreement Date
JointVentureAgreementDate
2015-12-19
CY2016Q4 us-gaap Equity Method Investments
EquityMethodInvestments
36500000
CY2016 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-36500000
CY2020Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
6784000
CY2020Q1 crsp Prepaid Expenses And Other Current Assets Fair Value Disclosure
PrepaidExpensesAndOtherCurrentAssetsFairValueDisclosure
2565000
CY2020Q1 us-gaap Property Plant And Equipment Fair Value Disclosure
PropertyPlantAndEquipmentFairValueDisclosure
9340000
CY2020Q1 crsp Operating Lease Assets Fair Value Disclosure
OperatingLeaseAssetsFairValueDisclosure
11003000
CY2020Q1 crsp Restricted Cash Fair Value Disclosure
RestrictedCashFairValueDisclosure
1226000
CY2020Q1 crsp Accrued Expenses And Other Current Liabilities Fair Value Disclosure
AccruedExpensesAndOtherCurrentLiabilitiesFairValueDisclosure
3915000
CY2020Q1 crsp Operating Lease Liabilities Fair Value Disclosure
OperatingLeaseLiabilitiesFairValueDisclosure
11003000
CY2020Q1 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
16000000
CY2020Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
103901006
CY2020Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.03
CY2020Q1 crsp Common Stock Registered Share Capital
CommonStockRegisteredShareCapital
61036566
CY2019Q4 crsp Common Stock Registered Share Capital
CommonStockRegisteredShareCapital
61036566
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14151000
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10696000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8495315
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
32.82
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3697079
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
25.25
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
8495315
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
32.82
CY2020Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
107300000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7782437
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
31.30
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
887458
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
45.73
CY2020Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
88466
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
19.37
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
86114
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
42.20
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9462375
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8377878
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100000
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.005
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.002

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