$ERAS
Erasca, Inc.

2023 Q3 Form 10-Q Financial Statement

#000095017023041333 Filed on August 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.450M $9.752M
YoY Change 7.66% 15.86%
% of Gross Profit
Research & Development $25.21M $26.22M
YoY Change -10.54% -4.62%
% of Gross Profit
Depreciation & Amortization $941.0K $955.0K
YoY Change 22.05% 78.84%
% of Gross Profit
Operating Expenses $34.66M $35.97M
YoY Change -6.23% 0.18%
Operating Profit -$34.66M -$35.97M
YoY Change -6.23% 0.18%
Interest Expense $4.346M $4.251M
YoY Change 185.55% 995.62%
% of Operating Profit
Other Income/Expense, Net $4.297M $4.189M
YoY Change 191.72% 1310.44%
Pretax Income -$30.36M -$31.78M
YoY Change -14.45% -10.75%
Income Tax
% Of Pretax Income
Net Earnings -$30.36M -$31.78M
YoY Change -14.45% -10.75%
Net Earnings / Revenue
Basic Earnings Per Share -$0.20 -$0.21
Diluted Earnings Per Share -$0.20 -$0.21
COMMON SHARES
Basic Shares Outstanding 151.0M 150.8M
Diluted Shares Outstanding 150.5M 150.0M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $296.7M $317.2M
YoY Change -16.64% -14.6%
Cash & Equivalents $112.9M $138.8M
Short-Term Investments $183.8M $178.5M
Other Short-Term Assets $9.300M $6.606M
YoY Change -5.32% -33.57%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $306.0M $323.9M
YoY Change -16.35% -15.09%
LONG-TERM ASSETS
Property, Plant & Equipment $23.23M $23.91M
YoY Change -6.62% -1.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $46.90M $48.08M
YoY Change 390.12% 148.95%
Other Assets $4.388M $5.248M
YoY Change -8.1% 11.38%
Total Long-Term Assets $113.4M $116.8M
YoY Change 40.61% 84.24%
TOTAL ASSETS
Total Short-Term Assets $306.0M $323.9M
Total Long-Term Assets $113.4M $116.8M
Total Assets $419.4M $440.7M
YoY Change -6.05% -0.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.701M $2.631M
YoY Change -14.31% 14.84%
Accrued Expenses $22.40M $19.86M
YoY Change 4.52% 11.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.73M $23.29M
YoY Change -3.43% 4.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $761.0K $697.0K
YoY Change -98.58% -97.46%
Total Long-Term Liabilities $761.0K $697.0K
YoY Change -98.58% -97.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.73M $23.29M
Total Long-Term Liabilities $761.0K $697.0K
Total Liabilities $80.43M $77.96M
YoY Change -0.84% 56.68%
SHAREHOLDERS EQUITY
Retained Earnings -$576.3M -$546.0M
YoY Change 66.71% 76.02%
Common Stock $915.9M $909.4M
YoY Change 28.56% 28.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $339.0M $362.7M
YoY Change
Total Liabilities & Shareholders Equity $419.4M $440.7M
YoY Change -6.05% -0.94%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$30.36M -$31.78M
YoY Change -14.45% -10.75%
Depreciation, Depletion And Amortization $941.0K $955.0K
YoY Change 22.05% 78.84%
Cash From Operating Activities -$24.12M -$25.95M
YoY Change 0.73% -4.38%
INVESTING ACTIVITIES
Capital Expenditures $240.0K $247.0K
YoY Change -113.39% -105.42%
Acquisitions
YoY Change
Other Investing Activities -$1.570M -$108.4M
YoY Change -97.06% 2240.67%
Cash From Investing Activities -$1.820M -$108.7M
YoY Change -96.7% 1082.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.00K 649.0K
YoY Change -97.66% -34.58%
NET CHANGE
Cash From Operating Activities -24.12M -25.95M
Cash From Investing Activities -1.820M -108.7M
Cash From Financing Activities 10.00K 649.0K
Net Change In Cash -25.93M -134.0M
YoY Change -67.07% 279.09%
FREE CASH FLOW
Cash From Operating Activities -$24.12M -$25.95M
Capital Expenditures $240.0K $247.0K
Free Cash Flow -$24.36M -$26.20M
YoY Change 9.96% 16.01%

Facts In Submission

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">Use of estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">The preparation of the Company’s condensed consolidated financial statements in conformity with US GAAP requires the Company to make estimates and assumptions that impact the reported amounts of assets, liabilities, expenses, and the disclosure of contingent assets and liabilities in the condensed consolidated financial statements and accompanying notes. Accounting estimates and management judgments reflected in the condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses, fair value of common stock, stock-based compensation expense, and the incremental borrowing rate for determining the operating lease asset and liability. Management evaluates its estimates on an ongoing basis. Although estimates are based on the Company’s historical experience, knowledge of current events, and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.</span></p>
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