$FATE
Fate Therapeutics Inc

2018 Q3 Form 10-Q Financial Statement

#000156459018026214 Filed on November 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3 2017 Q2
Revenue $1.026M $1.026M $1.026M
YoY Change 0.0% 0.0% -0.1%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.080M $2.790M $2.670M
YoY Change 46.24% 6.9% 18.67%
% of Gross Profit
Research & Development $13.64M $8.578M $7.927M
YoY Change 58.98% 26.07% 16.92%
% of Gross Profit
Depreciation & Amortization $310.0K $240.0K $230.0K
YoY Change 29.17% 9.09% 0.0%
% of Gross Profit
Operating Expenses $17.72M $11.37M $10.60M
YoY Change 55.89% 20.72% 17.33%
Operating Profit -$16.69M -$10.34M -$9.570M
YoY Change 61.43% 23.26%
Interest Expense $429.0K $378.0K -$80.00K
YoY Change 13.49% -1.82% -80.0%
% of Operating Profit
Other Income/Expense, Net -$90.00K
YoY Change
Pretax Income -$16.78M -$10.68M -$9.650M
YoY Change 57.12% 22.2% 14.74%
Income Tax
% Of Pretax Income
Net Earnings -$16.78M -$10.68M -$9.645M
YoY Change 57.08% 22.28% 14.71%
Net Earnings / Revenue -1635.67% -1041.33% -940.06%
Basic Earnings Per Share
Diluted Earnings Per Share -$309.7K -$257.8K -$233.0K
COMMON SHARES
Basic Shares Outstanding 53.42M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $211.2M $69.20M $71.00M
YoY Change 205.2% 48.5% 54.68%
Cash & Equivalents $183.2M $43.35M $31.19M
Short-Term Investments $27.90M $26.00M $40.00M
Other Short-Term Assets $2.200M $800.0K $800.0K
YoY Change 175.0% 0.0% -33.33%
Inventory
Prepaid Expenses
Receivables $500.0K
Other Receivables $0.00
Total Short-Term Assets $213.9M $70.00M $71.90M
YoY Change 205.57% 47.68% 52.65%
LONG-TERM ASSETS
Property, Plant & Equipment $3.800M $2.500M $1.900M
YoY Change 52.0% 38.89% 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.0K $100.0K $100.0K
YoY Change 100.0% 0.0% 0.0%
Total Long-Term Assets $6.100M $2.700M $2.100M
YoY Change 125.93% 42.11% 0.0%
TOTAL ASSETS
Total Short-Term Assets $213.9M $70.00M $71.90M
Total Long-Term Assets $6.100M $2.700M $2.100M
Total Assets $220.0M $72.70M $74.00M
YoY Change 202.61% 47.46% 50.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.200M $2.200M $1.200M
YoY Change 136.36% 83.33% -40.0%
Accrued Expenses $9.600M $5.400M $4.800M
YoY Change 77.78% 63.64% 100.0%
Deferred Revenue $3.250M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.300M $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $22.70M $9.700M $8.100M
YoY Change 134.02% -33.91% -43.36%
LONG-TERM LIABILITIES
Long-Term Debt $11.60M $14.80M $6.700M
YoY Change -21.62% 221.04% 0.0%
Other Long-Term Liabilities $11.80M $2.400M $4.000M
YoY Change 391.67% -47.83% -20.0%
Total Long-Term Liabilities $23.40M $17.20M $10.70M
YoY Change 36.05% 273.1% -8.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.70M $9.700M $8.100M
Total Long-Term Liabilities $23.40M $17.20M $10.70M
Total Liabilities $46.00M $26.90M $18.70M
YoY Change 71.0% 39.46% -28.08%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $173.9M $45.75M $55.21M
YoY Change
Total Liabilities & Shareholders Equity $220.0M $72.70M $74.00M
YoY Change 202.61% 47.48% 50.41%

Cashflow Statement

Concept 2018 Q3 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income -$16.78M -$10.68M -$9.645M
YoY Change 57.08% 22.28% 14.71%
Depreciation, Depletion And Amortization $310.0K $240.0K $230.0K
YoY Change 29.17% 9.09% 0.0%
Cash From Operating Activities -$3.560M -$9.770M -$8.870M
YoY Change -63.56% 30.09% 18.11%
INVESTING ACTIVITIES
Capital Expenditures -$730.0K -$360.0K -$410.0K
YoY Change 102.78% 800.0% 105.0%
Acquisitions
YoY Change
Other Investing Activities $14.00M $14.00M $1.750M
YoY Change 0.0% 2757.14% -70.83%
Cash From Investing Activities $13.27M $13.64M $1.340M
YoY Change -2.71% 2865.22% -76.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 137.4M 8.300M -2.010M
YoY Change 1555.06% 0.24% 5.79%
NET CHANGE
Cash From Operating Activities -3.560M -9.770M -8.870M
Cash From Investing Activities 13.27M 13.64M 1.340M
Cash From Financing Activities 137.4M 8.300M -2.010M
Net Change In Cash 147.1M 12.17M -9.540M
YoY Change 1108.55% 889.43% 163.54%
FREE CASH FLOW
Cash From Operating Activities -$3.560M -$9.770M -$8.870M
Capital Expenditures -$730.0K -$360.0K -$410.0K
Free Cash Flow -$2.830M -$9.410M -$8.460M
YoY Change -69.93% 25.97% 15.73%

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<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The Company&#8217;s consolidated financial statements are prepared in accordance with United States generally accepted accounting principles (GAAP). The preparation of the Company&#8217;s consolidated financial statements requires it 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&#8217;s consolidated financial statements and accompanying notes. The most significant estimates in the Company&#8217;s consolidated financial statements relate to accrued expenses. Although these estimates are based on the Company&#8217;s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.</p></div>
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CY2017Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
15000000
CY2018Q3 fate Debt Instrument Discount Non Current
DebtInstrumentDiscountNonCurrent
66000
CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1382000
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-10000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-14135000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
64995000
CY2018Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
175000
CY2018Q2 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
19000
CY2018Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1485000
CY2018Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
4845000
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-2000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-19654000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
51825000
CY2018Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1133000
CY2018Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
134855000
CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1642000
CY2018Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
1255000
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
73154000
CY2018Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1000
CY2017Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
35000
CY2017Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
867000
CY2017Q1 fate Common Stock Issued During Period Value Private Placement
CommonStockIssuedDuringPeriodValuePrivatePlacement
-13000
CY2017Q1 fate Convertible Preferred Stock Issued During Period Value New Issues
ConvertiblePreferredStockIssuedDuringPeriodValueNewIssues
-26000
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-33000
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-10126000
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
63858000
CY2017Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
32000
CY2017Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-5000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-9645000
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
55213000
CY2017Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
119000
CY2017Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
13000
CY2017Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
871000
CY2017Q3 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
217000
CY2017Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
26000
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
45749000

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