$FATE
Fate Therapeutics Inc

2020 Q1 Form 10-Q Financial Statement

#000156459020024213 Filed on May 11, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $2.515M $2.632M
YoY Change -4.45% 156.53%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.730M $5.350M
YoY Change 44.49% 48.61%
% of Gross Profit
Research & Development $29.28M $17.73M
YoY Change 65.15% 54.48%
% of Gross Profit
Depreciation & Amortization $705.0K $440.0K
YoY Change 60.23% 53.85%
% of Gross Profit
Operating Expenses $37.01M $23.08M
YoY Change 60.36% 53.04%
Operating Profit -$34.49M -$20.45M
YoY Change 68.7%
Interest Expense $970.0K $405.0K
YoY Change 139.51% -606.25%
% of Operating Profit
Other Income/Expense, Net $972.0K $686.0K
YoY Change 41.69%
Pretax Income -$33.52M -$19.76M
YoY Change 69.64% 39.75%
Income Tax
% Of Pretax Income
Net Earnings -$33.52M -$19.76M
YoY Change 69.64% 39.79%
Net Earnings / Revenue -1332.8% -750.76%
Basic Earnings Per Share
Diluted Earnings Per Share -$441.7K -$304.4K
COMMON SHARES
Basic Shares Outstanding 75.93M 65.00M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $203.3M $183.0M
YoY Change 11.09% 106.55%
Cash & Equivalents $83.37M $183.0M
Short-Term Investments $119.9M $0.00
Other Short-Term Assets $5.000M $2.900M
YoY Change 72.41% 93.33%
Inventory
Prepaid Expenses
Receivables $500.0K
Other Receivables $0.00
Total Short-Term Assets $208.2M $186.4M
YoY Change 11.7% 105.77%
LONG-TERM ASSETS
Property, Plant & Equipment $11.90M $8.402M
YoY Change 41.59% 223.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $16.10M
YoY Change
Other Assets $9.000K $200.0K
YoY Change -95.5% 100.0%
Total Long-Term Assets $113.6M $34.47M
YoY Change 229.68% 1131.07%
TOTAL ASSETS
Total Short-Term Assets $208.2M $186.4M
Total Long-Term Assets $113.6M $34.47M
Total Assets $321.9M $220.9M
YoY Change 45.72% 136.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.173M $5.400M
YoY Change -4.2% 145.45%
Accrued Expenses $11.77M $11.20M
YoY Change 5.09% 51.35%
Deferred Revenue $2.923M $6.576M
YoY Change -55.55%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.941M
YoY Change 392.63%
Total Short-Term Liabilities $24.92M $29.14M
YoY Change -14.47% 131.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $10.96M
YoY Change -100.0% -22.28%
Other Long-Term Liabilities $77.70M $34.90M
YoY Change 122.64% 1838.89%
Total Long-Term Liabilities $77.70M $10.96M
YoY Change 609.07% -31.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.92M $29.14M
Total Long-Term Liabilities $77.70M $10.96M
Total Liabilities $102.7M $40.10M
YoY Change 156.12% 41.19%
SHAREHOLDERS EQUITY
Retained Earnings -$417.1M -$305.2M
YoY Change 36.67%
Common Stock $76.00K $65.00K
YoY Change 16.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $219.2M $145.8M
YoY Change
Total Liabilities & Shareholders Equity $321.9M $220.9M
YoY Change 45.74% 136.47%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$33.52M -$19.76M
YoY Change 69.64% 39.79%
Depreciation, Depletion And Amortization $705.0K $440.0K
YoY Change 60.23% 53.85%
Cash From Operating Activities -$26.67M -$17.49M
YoY Change 52.48% 39.38%
INVESTING ACTIVITIES
Capital Expenditures $1.070M $1.746M
YoY Change -38.72% 848.91%
Acquisitions
YoY Change
Other Investing Activities $24.84M $10.50M
YoY Change 136.57% -124.05%
Cash From Investing Activities $23.77M $8.754M
YoY Change 171.58% -119.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.451M 1.258M
YoY Change 15.34% 254.37%
NET CHANGE
Cash From Operating Activities -26.67M -17.49M
Cash From Investing Activities 23.77M 8.754M
Cash From Financing Activities 1.451M 1.258M
Net Change In Cash -1.448M -7.481M
YoY Change -80.64% -86.65%
FREE CASH FLOW
Cash From Operating Activities -$26.67M -$17.49M
Capital Expenditures $1.070M $1.746M
Free Cash Flow -$27.74M -$19.24M
YoY Change 44.2% 51.07%

Facts In Submission

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900000
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
600000
CY2020Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
600000
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2938000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9541000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
12610000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12988000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
13378000
CY2020Q1 fate Lessee Operating Lease Liability Payments Due Year Six
LesseeOperatingLeaseLiabilityPaymentsDueYearSix
13779000
CY2020Q1 fate Lessee Operating Lease Liability Payments Due After Year Six
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearSix
130447000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
195681000
CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
90678000
CY2020Q1 fate Amounts Associated With Tenant Improvement Allowance Not Yet Utilized
AmountsAssociatedWithTenantImprovementAllowanceNotYetUtilized
29271000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
75732000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6913000
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3868000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
244756000
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
949000
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6913000
CY2020Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
120000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-33520000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
219218000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
160469000
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1258000
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3868000
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
2000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-19760000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
145837000

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