$DMTKQ
DermTech Inc

2020 Q1 Form 10-Q Financial Statement

#000156459020025096 Filed on May 13, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $1.557M $596.0K
YoY Change 161.24%
Cost Of Revenue $1.203M
YoY Change
Gross Profit $354.0K
YoY Change
Gross Profit Margin 22.74%
Selling, General & Admin $6.458M
YoY Change
% of Gross Profit 1824.29%
Research & Development $897.0K $572.0K
YoY Change 56.82%
% of Gross Profit 253.39%
Depreciation & Amortization $60.00K $19.00K
YoY Change 215.79%
% of Gross Profit 16.95%
Operating Expenses $7.355M $572.0K
YoY Change 1185.84% 599.69%
Operating Profit -$7.001M
YoY Change
Interest Expense -$1.968M
YoY Change -518.72%
% of Operating Profit
Other Income/Expense, Net $104.0K -$2.153M
YoY Change -104.83%
Pretax Income -$6.900M $0.00
YoY Change -100.0%
Income Tax
% Of Pretax Income
Net Earnings -$6.897M -$5.156M
YoY Change 33.77% 126.04%
Net Earnings / Revenue -442.97% -865.1%
Basic Earnings Per Share
Diluted Earnings Per Share -$526.7K $0.00
COMMON SHARES
Basic Shares Outstanding 14.84M 18.53M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $67.90M $0.00
YoY Change -100.0%
Cash & Equivalents $67.92M $30.49K
Short-Term Investments
Other Short-Term Assets $127.0K $100.0K
YoY Change 27.0% 0.0%
Inventory $100.0K
Prepaid Expenses $51.26K
Receivables $1.200M
Other Receivables $0.00
Total Short-Term Assets $70.10M $81.74K
YoY Change 85655.53% -84.96%
LONG-TERM ASSETS
Property, Plant & Equipment $1.700M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $12.40M
YoY Change -91.53%
Other Assets $200.0K
YoY Change
Total Long-Term Assets $1.900M $12.36M
YoY Change -84.63% -91.56%
TOTAL ASSETS
Total Short-Term Assets $70.10M $81.74K
Total Long-Term Assets $1.900M $12.36M
Total Assets $72.00M $12.44M
YoY Change 478.79% -91.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.600M $1.500M
YoY Change 6.67%
Accrued Expenses $1.300M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.300M $1.558M
YoY Change 240.12% 3614.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.300M $1.558M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $5.861M $6.590M
YoY Change -11.06% 29.89%
SHAREHOLDERS EQUITY
Retained Earnings -$98.45M $1.798M
YoY Change -5575.25% 110.64%
Common Stock $164.6M $3.202M
YoY Change 5039.21% -22.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $66.11M -$10.30M
YoY Change
Total Liabilities & Shareholders Equity $72.00M $12.44M
YoY Change 478.79% -91.53%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$6.897M -$5.156M
YoY Change 33.77% 126.04%
Depreciation, Depletion And Amortization $60.00K $19.00K
YoY Change 215.79%
Cash From Operating Activities -$7.397M -$10.00K
YoY Change 73870.0% -90.0%
INVESTING ACTIVITIES
Capital Expenditures $175.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $136.9M
YoY Change
Cash From Investing Activities -$175.0K $136.9M
YoY Change -100.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 60.12M -136.9M
YoY Change -143.91%
NET CHANGE
Cash From Operating Activities -7.397M -10.00K
Cash From Investing Activities -175.0K 136.9M
Cash From Financing Activities 60.12M -136.9M
Net Change In Cash 52.55M -2.712M
YoY Change -2037.61% 2612.0%
FREE CASH FLOW
Cash From Operating Activities -$7.397M -$10.00K
Capital Expenditures $175.0K
Free Cash Flow -$7.572M
YoY Change

Facts In Submission

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<div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:18pt;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">(c)</font></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:18pt;font-weight:bold;font-style:italic;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"><font style="font-weight:normal;"></font>Use of Estimates </p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;margin-left:4.54%;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of condensed consolidated financial statements in conformity with U.S.&#160;GAAP requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the amounts of revenues and expenses reported during the period. On an ongoing basis, management evaluates these estimates and judgments, including those related to assay revenue, stock-based compensation, accounts receivable and the realization of deferred tax assets. Actual results may differ from those estimates. </p>
CY2020Q1 us-gaap Concentration Risk Credit Risk
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CY2020Q1 us-gaap Description Of Lessee Leasing Arrangements Operating Leases
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In January 2013, DermTech Operations entered into a non-cancelable lease agreement for its operating facilities. In January 2014, DermTech Operations signed an amendment to the lease to extend the term through January 2017. In November 2016, DermTech Operations signed a second amendment to the lease to extend the term through March 2022. In August 2019, DermTech Operations signed a third amendment to the lease to add additional space, and in September 2019, the Company signed a fourth amendment to the lease to add additional space. In February 2020, the Company signed a fifth amendment to the lease to add additional space. In connection with the Business Combination, the Company assumed all obligations under the lease, as amended, from DermTech Operations.
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CY2020Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
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CY2019Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
0

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