2017 Q3 Form 10-Q Financial Statement

#000114420417041727 Filed on August 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2016 Q2
Revenue $2.520M $4.404M $2.230M
YoY Change 158.46% 97.49%
Cost Of Revenue $505.0K $878.0K $324.0K
YoY Change 1131.71% 170.99%
Gross Profit $2.015M $3.526M $1.906M
YoY Change 115.74% 84.99%
Gross Profit Margin 79.96% 80.06% 85.47%
Selling, General & Admin $15.10M $11.13M $8.635M
YoY Change 70.4% 28.94% 90.62%
% of Gross Profit 749.58% 315.77% 453.04%
Research & Development $0.00 $1.800M $2.060M
YoY Change -100.0% -12.62% -14.56%
% of Gross Profit 0.0% 51.05% 108.08%
Depreciation & Amortization $200.0K $180.0K $82.00K
YoY Change 0.0% 119.51% 1540.0%
% of Gross Profit 9.93% 5.1% 4.3%
Operating Expenses $79.49M $73.89M $17.37M
YoY Change 361.58% 325.49% 123.73%
Operating Profit -$31.80M -$25.50M -$17.04M
YoY Change 85.09% 49.6% 119.56%
Interest Expense $3.220M $1.380M $529.0K
YoY Change 367.34% 160.87% 50.28%
% of Operating Profit
Other Income/Expense, Net -$3.704M $244.0K -$1.253M
YoY Change 421.69% -119.47% -193.23%
Pretax Income -$36.31M -$22.95M -$16.39M
YoY Change 114.07% 40.02% 155.3%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$27.12M -$17.37M -$12.48M
YoY Change 108.89% 39.16% 102.07%
Net Earnings / Revenue -1076.03% -394.3% -559.55%
Basic Earnings Per Share
Diluted Earnings Per Share -$666.0K -$428.4K -$313.0K
COMMON SHARES
Basic Shares Outstanding 50.53M shares 50.33M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $156.2M $167.8M $71.30M
YoY Change 84.42% 135.34% 7.05%
Cash & Equivalents $128.5M $161.2M $71.34M
Short-Term Investments $45.70M $23.40M
Other Short-Term Assets $11.70M $12.90M $1.600M
YoY Change 108.93% 706.25% 60.0%
Inventory $318.0K $299.0K $100.0K
Prepaid Expenses
Receivables $5.582M $3.336M $967.0K
Other Receivables $10.20M $5.900M $2.500M
Total Short-Term Assets $184.1M $190.2M $76.60M
YoY Change 86.7% 148.28% 23.48%
LONG-TERM ASSETS
Property, Plant & Equipment $2.397M $7.329M $4.500M
YoY Change 105.93% 62.87% 4900.0%
Goodwill $18.65M $18.65M
YoY Change -14.23%
Intangibles
YoY Change
Long-Term Investments $0.00 $300.0K $250.0K
YoY Change -100.0% 20.0% 0.0%
Other Assets $346.0K $16.30M $14.60M
YoY Change 620.83% 11.64% 8388.37%
Total Long-Term Assets $61.00M $59.62M $21.46M
YoY Change 30.29% 177.79% -0.94%
TOTAL ASSETS
Total Short-Term Assets $184.1M $190.2M $76.60M
Total Long-Term Assets $61.00M $59.62M $21.46M
Total Assets $245.1M $249.8M $98.06M
YoY Change 68.54% 154.74% 17.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.00M $25.00M $5.100M
YoY Change 46.79% 390.2% 774.79%
Accrued Expenses $16.65M $12.37M $8.500M
YoY Change 93.5% 45.56% 93.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $13.00M $6.200M
YoY Change
Total Short-Term Liabilities $68.43M $53.50M $14.30M
YoY Change 77.31% 274.13% 186.29%
LONG-TERM LIABILITIES
Long-Term Debt $50.70M $40.70M $21.80M
YoY Change 85.04% 86.7% -6.03%
Other Long-Term Liabilities $4.736M $5.026M $3.700M
YoY Change 3.34% 35.84% 1301.52%
Total Long-Term Liabilities $4.736M $5.026M $25.50M
YoY Change 3.34% -80.29% 9559.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $68.43M $53.50M $14.30M
Total Long-Term Liabilities $4.736M $5.026M $25.50M
Total Liabilities $123.8M $99.23M $62.70M
YoY Change 75.44% 58.26% 120.07%
SHAREHOLDERS EQUITY
Retained Earnings -$301.7M -$274.6M
YoY Change 32.44%
Common Stock $51.00K $800.0K
YoY Change 4.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $36.94M $72.27M $35.34M
YoY Change
Total Liabilities & Shareholders Equity $245.1M $249.8M $98.10M
YoY Change 68.54% 154.69% 17.21%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$27.12M -$17.37M -$12.48M
YoY Change 108.89% 39.16% 102.07%
Depreciation, Depletion And Amortization $200.0K $180.0K $82.00K
YoY Change 0.0% 119.51% 1540.0%
Cash From Operating Activities -$25.08M -$23.88M -$7.380M
YoY Change 184.35% 223.58% 19.81%
INVESTING ACTIVITIES
Capital Expenditures -$550.0K -$190.0K -$2.160M
YoY Change -62.33% -91.2% 4220.0%
Acquisitions
YoY Change
Other Investing Activities -$24.29M -$20.03M -$2.060M
YoY Change -770.99% 872.33% 21.18%
Cash From Investing Activities -$24.83M -$20.23M -$4.220M
YoY Change -1249.54% 379.38% 141.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $34.20M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 17.14M 54.42M 1.520M
YoY Change -4.03% 3480.26% 4966.67%
NET CHANGE
Cash From Operating Activities -25.08M -23.88M -7.380M
Cash From Investing Activities -24.83M -20.23M -4.220M
Cash From Financing Activities 17.14M 54.42M 1.520M
Net Change In Cash -32.77M 10.31M -10.08M
YoY Change -392.59% -202.28% 27.92%
FREE CASH FLOW
Cash From Operating Activities -$25.08M -$23.88M -$7.380M
Capital Expenditures -$550.0K -$190.0K -$2.160M
Free Cash Flow -$24.53M -$23.69M -$5.220M
YoY Change 233.29% 353.83% -14.57%

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dei Document Type
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dei Amendment Flag
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dei Document Period End Date
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2017-06-30
dei Document Fiscal Year Focus
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2017
dei Document Fiscal Period Focus
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dei Entity Registrant Name
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Fortress Biotech, Inc.
dei Entity Central Index Key
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0001429260
dei Current Fiscal Year End Date
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dei Entity Filer Category
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dei Trading Symbol
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1826461000 USD
CY2017Q2 us-gaap Due From Other Related Parties Current
DueFromOtherRelatedPartiesCurrent
1605000 USD
CY2016Q4 us-gaap Due From Other Related Parties Current
DueFromOtherRelatedPartiesCurrent
1790000 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11902000 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9061000 USD
CY2017Q2 us-gaap Assets Current
AssetsCurrent
190180000 USD
CY2016Q4 us-gaap Assets Current
AssetsCurrent
109634000 USD
CY2017Q2 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
630000 USD
CY2016Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
424000 USD
CY2017Q2 fbio Warrants Issuable Current
WarrantsIssuableCurrent
8190000 USD
CY2016Q4 fbio Warrants Issuable Current
WarrantsIssuableCurrent
14359000 USD
fbio Change In Fair Value Of Subsidiaries Assets And Liabilities
ChangeInFairValueOfSubsidiariesAssetsAndLiabilities
10000 USD
fbio Change In Fair Value Of Subsidiaries Assets And Liabilities
ChangeInFairValueOfSubsidiariesAssetsAndLiabilities
249000 USD
fbio Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Granted Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedGrantedWeightedAverageRemainingContractualTerm
P9Y9M22D
fbio Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOutstandingWeightedAverageRemainingContractualTerm
P9Y9M22D
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7329000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7376000 USD
CY2017Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
15860000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
15860000 USD
CY2017Q2 us-gaap Long Term Investments
LongTermInvestments
903000 USD
CY2016Q4 us-gaap Long Term Investments
LongTermInvestments
1414000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
16533000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
17408000 USD
CY2017Q2 us-gaap Goodwill
Goodwill
18645000 USD
CY2016Q4 us-gaap Goodwill
Goodwill
18645000 USD

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