$FATE
FATE THERAPEUTICS INC

2024 Q4 Form 10-Q Financial Statement

#000095017024125317 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $3.074M
YoY Change 58.13%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $20.80M
YoY Change 9.77%
% of Gross Profit
Research & Development $34.65M
YoY Change 1.09%
% of Gross Profit
Depreciation & Amortization $4.607M
YoY Change -2.81%
% of Gross Profit
Operating Expenses $55.45M
YoY Change 4.19%
Operating Profit -$52.38M
YoY Change 2.14%
Interest Expense $4.425M
YoY Change -23.04%
% of Operating Profit
Other Income/Expense, Net $4.699M
YoY Change -23.08%
Pretax Income -$47.68M
YoY Change 5.55%
Income Tax
% Of Pretax Income
Net Earnings -$47.68M
YoY Change 5.55%
Net Earnings / Revenue -1551.01%
Basic Earnings Per Share -$0.40
Diluted Earnings Per Share -$0.40
COMMON SHARES
Basic Shares Outstanding 113.9M 113.9M
Diluted Shares Outstanding 117.8M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $296.9M
YoY Change -15.09%
Cash & Equivalents $37.91M
Short-Term Investments $259.0M
Other Short-Term Assets $9.244M
YoY Change -28.34%
Inventory
Prepaid Expenses
Receivables $4.127M
Other Receivables $0.00
Total Short-Term Assets $310.3M
YoY Change -14.8%
LONG-TERM ASSETS
Property, Plant & Equipment $82.39M
YoY Change -18.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $33.61M
YoY Change
Other Assets $9.000K
YoY Change 0.0%
Total Long-Term Assets $184.7M
YoY Change 2.82%
TOTAL ASSETS
Total Short-Term Assets $310.3M
Total Long-Term Assets $184.7M
Total Assets $495.0M
YoY Change -8.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.349M
YoY Change 11.27%
Accrued Expenses $23.58M
YoY Change -17.38%
Deferred Revenue $600.0K
YoY Change -45.95%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $37.42M
YoY Change -9.46%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $95.22M
YoY Change -4.49%
Total Long-Term Liabilities $95.22M
YoY Change -4.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.42M
Total Long-Term Liabilities $95.22M
Total Liabilities $132.6M
YoY Change -5.93%
SHAREHOLDERS EQUITY
Retained Earnings -$1.346B
YoY Change 15.26%
Common Stock $114.0K
YoY Change 15.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $362.3M
YoY Change
Total Liabilities & Shareholders Equity $495.0M
YoY Change -8.98%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$47.68M
YoY Change 5.55%
Depreciation, Depletion And Amortization $4.607M
YoY Change -2.81%
Cash From Operating Activities -$29.42M
YoY Change -23.15%
INVESTING ACTIVITIES
Capital Expenditures $495.0K
YoY Change -11.61%
Acquisitions
YoY Change
Other Investing Activities $25.96M
YoY Change 2.31%
Cash From Investing Activities $25.46M
YoY Change 2.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -29.42M
Cash From Investing Activities 25.46M
Cash From Financing Activities 0.000
Net Change In Cash -3.958M
YoY Change -70.64%
FREE CASH FLOW
Cash From Operating Activities -$29.42M
Capital Expenditures $495.0K
Free Cash Flow -$29.91M
YoY Change -22.98%

Facts In Submission

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us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company’s unaudited condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States (U.S. GAAP). The preparation of the Company’s unaudited condensed consolidated financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in the Company’s unaudited condensed consolidated financial statements and accompanying notes. The most significant estimates and assumptions in the Company’s unaudited condensed consolidated financial statements relate to its stock price appreciation milestone obligations, contracts containing leases, and accrued expenses. Although these estimates are based on the Company’s 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>
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2024Q3 fate Weighted Average Pre Funded Warrants
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CY2023Q3 fate Weighted Average Pre Funded Warrants
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fate Weighted Average Pre Funded Warrants
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CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2024Q3 us-gaap Other Accrued Liabilities Current
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CY2023Q4 us-gaap Other Accrued Liabilities Current
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CY2024Q3 us-gaap Accrued Liabilities Current
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CY2023Q4 us-gaap Accrued Liabilities Current
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27514000
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
These leases have terms varying from one to approximately sixteen years, with renewal options of up to ten years
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y1M6D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2024Q3 us-gaap Operating Lease Liability
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CY2023Q2 us-gaap Net Rentable Area
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CY2024Q3 us-gaap Allocated Share Based Compensation Expense
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CY2023Q3 us-gaap Allocated Share Based Compensation Expense
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10104000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
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CY2024Q1 us-gaap Proceeds From Issuance Of Private Placement
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CY2024Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2024Q2 us-gaap Proceeds From Issuance Of Common Stock
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CY2024Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2023Q2 fate Conversion Of Preferred Shares To Common Stock Value
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CY2024Q3 ecd Rule10b51 Arr Adopted Flag
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CY2024Q3 fate Rule10 B51 Arr Modified Flag
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CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
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