$DTIL
PRECISION BIOSCIENCES INC

2019 Q2 Form 10-Q Financial Statement

#000156459019032150 Filed on August 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2019 Q1 2018 Q2
Revenue $5.389M $5.462M $1.874M
YoY Change 187.57% 257.46%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.500M $5.000M $3.130M
YoY Change 107.67% 88.68%
% of Gross Profit
Research & Development $22.76M $19.96M $10.87M
YoY Change 109.4% 145.92%
% of Gross Profit
Depreciation & Amortization $1.170M $940.0K $510.0K
YoY Change 129.41% 104.35%
% of Gross Profit
Operating Expenses $29.26M $24.96M $14.00M
YoY Change 109.01% 131.87%
Operating Profit -$23.87M -$19.49M -$12.13M
YoY Change 96.87% 111.09%
Interest Expense $4.440M $182.0K $300.0K
YoY Change 1380.0% -17.27%
% of Operating Profit
Other Income/Expense, Net $4.435M -$12.29M $299.0K
YoY Change 1383.28% -5610.76%
Pretax Income -$19.44M -$31.78M -$11.83M
YoY Change 64.33% 252.72%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$19.44M -$31.78M -$11.83M
YoY Change 64.35% 252.67%
Net Earnings / Revenue -360.66% -581.89% -631.06%
Basic Earnings Per Share
Diluted Earnings Per Share -$388.5K -$631.1K -$241.3K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2019 Q1 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $226.1M $116.5M
YoY Change
Cash & Equivalents $226.1M $116.5M $125.3M
Short-Term Investments
Other Short-Term Assets $2.474M $6.025M
YoY Change
Inventory
Prepaid Expenses $8.265M $8.299M
Receivables $250.0K $6.157M
Other Receivables $0.00 $0.00
Total Short-Term Assets $237.1M $137.0M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $32.96M $27.91M
YoY Change
Goodwill
YoY Change
Intangibles $1.453M $1.460M
YoY Change
Long-Term Investments
YoY Change
Other Assets $417.0K $453.0K
YoY Change
Total Long-Term Assets $34.83M $29.82M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $237.1M $137.0M
Total Long-Term Assets $34.83M $29.82M
Total Assets $271.9M $166.8M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.882M $5.057M
YoY Change
Accrued Expenses $5.000M $3.800M
YoY Change
Deferred Revenue $7.129M $8.029M
YoY Change
Short-Term Debt $0.00 $52.40M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.82M $71.38M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $82.10M $84.60M
YoY Change
Total Long-Term Liabilities $82.10M $84.60M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $15.82M $71.38M
Total Long-Term Liabilities $82.10M $84.60M
Total Liabilities $97.94M $156.0M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$135.4M -$84.19M
YoY Change
Common Stock $310.3M $127.8M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $952.0K $952.0K
YoY Change
Treasury Stock Shares
Shareholders Equity $174.0M $10.83M $41.11M
YoY Change
Total Liabilities & Shareholders Equity $271.9M $166.8M
YoY Change

Cashflow Statement

Concept 2019 Q2 2019 Q1 2018 Q2
OPERATING ACTIVITIES
Net Income -$19.44M -$31.78M -$11.83M
YoY Change 64.35% 252.67%
Depreciation, Depletion And Amortization $1.170M $940.0K $510.0K
YoY Change 129.41% 104.35%
Cash From Operating Activities -$16.57M -$19.91M -$9.310M
YoY Change 77.98% 37.73%
INVESTING ACTIVITIES
Capital Expenditures -$8.140M -$5.080M -$1.130M
YoY Change 620.35% 719.35%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$8.140M -$5.082M -$1.130M
YoY Change 620.35% 721.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 134.3M 38.30M 88.03M
YoY Change 52.57% 191375.0%
NET CHANGE
Cash From Operating Activities -16.57M -19.91M -9.310M
Cash From Investing Activities -8.140M -5.082M -1.130M
Cash From Financing Activities 134.3M 38.30M 88.03M
Net Change In Cash 109.6M 13.31M 77.59M
YoY Change 41.26% -188.39%
FREE CASH FLOW
Cash From Operating Activities -$16.57M -$19.91M -$9.310M
Capital Expenditures -$8.140M -$5.080M -$1.130M
Free Cash Flow -$8.430M -$14.83M -$8.180M
YoY Change 3.06% 7.18%

Facts In Submission

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AllocatedShareBasedCompensationExpense
255000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3828000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
998177
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6846
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6819
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0242
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0245
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y9M25D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y4M9D
CY2019Q2 dtil Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Fair Value Per Option
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageFairValuePerOption
9.31
dtil Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Fair Value Per Option
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageFairValuePerOption
8.90
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7763464
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
376247
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
279912
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8105482
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.00
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
13.38
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.01
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
9.80
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.06
CY2019Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
25000000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y2M8D
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
4600000
CY2018Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
600000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
1198000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
2690000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2635000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2718000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2795000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
3742000
CY2019Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2016Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
105000000
CY2016Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P7Y
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2019Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
6884000
CY2018Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2491000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
10809000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2906000

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