$GLTO
Galecto, Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024049808 Filed on April 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.775M $3.278M
YoY Change -9.61% 4.73%
% of Gross Profit
Research & Development $1.834M $2.463M
YoY Change -77.33% -76.23%
% of Gross Profit
Depreciation & Amortization $5.000K $5.000K
YoY Change -70.59% -72.22%
% of Gross Profit
Operating Expenses $5.577M $5.741M
YoY Change -50.02% -57.45%
Operating Profit -$5.577M -$5.741M
YoY Change -50.02% -57.45%
Interest Expense $281.0K $264.0K
YoY Change -32.29% -46.99%
% of Operating Profit
Other Income/Expense, Net $281.0K $264.0K
YoY Change -32.29% -46.99%
Pretax Income -$5.296M -$5.477M
YoY Change -50.71% -57.85%
Income Tax $42.00K
% Of Pretax Income
Net Earnings -$5.338M -$5.477M
YoY Change -50.32% -57.85%
Net Earnings / Revenue
Basic Earnings Per Share -$0.20 -$0.20
Diluted Earnings Per Share -$0.20 -$0.20
COMMON SHARES
Basic Shares Outstanding 27.11M 27.11M
Diluted Shares Outstanding 27.12M 27.11M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.86M $27.17M
YoY Change -56.14% -48.97%
Cash & Equivalents $22.86M $21.09M
Short-Term Investments $0.00 $6.080M
Other Short-Term Assets $464.0K $3.370M
YoY Change -5.88% 367.41%
Inventory
Prepaid Expenses
Receivables $121.0K $944.0K
Other Receivables $1.721M $1.703M
Total Short-Term Assets $25.20M $30.50M
YoY Change -54.48% -46.58%
LONG-TERM ASSETS
Property, Plant & Equipment $67.00K $73.00K
YoY Change -93.03% -78.84%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.986M $1.711M
YoY Change -19.92% -31.26%
Total Long-Term Assets $2.097M $1.977M
YoY Change -39.06% -73.75%
TOTAL ASSETS
Total Short-Term Assets $25.20M $30.50M
Total Long-Term Assets $2.097M $1.977M
Total Assets $27.30M $32.48M
YoY Change -53.58% -49.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $724.0K $1.665M
YoY Change -86.97% -53.1%
Accrued Expenses $2.985M $2.653M
YoY Change 36.3% -74.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.700M $4.300M
YoY Change -75.16% -69.5%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.700M $4.300M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $3.709M $4.318M
YoY Change -75.44% -69.8%
SHAREHOLDERS EQUITY
Retained Earnings -$266.9M -$261.6M
YoY Change 10.52% 13.39%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.59M $28.16M
YoY Change
Total Liabilities & Shareholders Equity $27.30M $32.48M
YoY Change -53.58% -49.75%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$5.338M -$5.477M
YoY Change -50.32% -57.85%
Depreciation, Depletion And Amortization $5.000K $5.000K
YoY Change -70.59% -72.22%
Cash From Operating Activities -$4.100M -$5.900M
YoY Change -47.76% -35.41%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $6.000M $5.650M
YoY Change 94.11% 311.21%
Cash From Investing Activities $6.000M $5.650M
YoY Change 94.11% 311.21%
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 0.000
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -4.100M -5.900M
Cash From Investing Activities 6.000M 5.650M
Cash From Financing Activities 0.000 0.000
Net Change In Cash 1.900M -250.0K
YoY Change -191.52% -96.77%
FREE CASH FLOW
Cash From Operating Activities -$4.100M -$5.900M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2024Q1 us-gaap Depreciation
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5000
CY2023Q1 us-gaap Depreciation
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CY2024Q1 us-gaap Assets Fair Value Disclosure
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100000
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CY2023Q1 us-gaap Operating Lease Cost
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CY2023Q1 us-gaap Operating Lease Payments
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P0Y9M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P0Y10M24D
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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145000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
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6886889
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.58
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P6Y8M12D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2024Q1 glto Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodIntrinsicValue
0
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
891925
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.38
CY2024Q1 glto Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledIntrinsicValue
0
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5994964
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.6
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y10M24D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
5710318
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
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CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
0
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
4435373
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
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CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
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CY2024Q1 us-gaap Allocated Share Based Compensation Expense
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1359000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.039
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.038
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y10M24D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.946
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.907
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
0
CY2023 us-gaap Restructuring Charges
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CY2023 us-gaap Payments For Restructuring
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CY2023Q4 us-gaap Restructuring Reserve
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1734000
CY2024Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
1249000
CY2024Q1 us-gaap Restructuring Reserve
RestructuringReserve
485000
CY2023Q3 glto Employees Retention Bonus Payable
EmployeesRetentionBonusPayable
1200000
CY2024Q1 glto Employees Retention Bonus Amount
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CY2023 glto Employees Retention Bonus Amount
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CY2024Q1 us-gaap Net Income Loss
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CY2023Q1 us-gaap Net Income Loss
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CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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27112697
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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27112697
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25672902
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25672902
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.2
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.2
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.51
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.51

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