$IMVT
Immunovant, Inc.

2023 Q3 Form 10-Q Financial Statement

#000176401323000092 Filed on August 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $13.84M $15.40M
YoY Change 16.55% 28.93%
% of Gross Profit
Research & Development $47.96M $50.58M
YoY Change 27.08% 77.9%
% of Gross Profit
Depreciation & Amortization $60.00K $53.00K
YoY Change 30.43% 20.45%
% of Gross Profit
Operating Expenses $61.80M $78.48M
YoY Change 24.56% 94.37%
Operating Profit
YoY Change
Interest Expense $3.570M $4.065M
YoY Change 209.36%
% of Operating Profit
Other Income/Expense, Net $20.00K $464.0K
YoY Change -97.48% 31.07%
Pretax Income -$58.21M -$73.95M
YoY Change 22.11% 84.77%
Income Tax $454.0K -$11.00K
% Of Pretax Income
Net Earnings -$58.66M -$73.94M
YoY Change 22.4% 83.13%
Net Earnings / Revenue
Basic Earnings Per Share -$0.45 -$0.57
Diluted Earnings Per Share -$0.45 -$0.57
COMMON SHARES
Basic Shares Outstanding 130.7M shares 130.4M shares
Diluted Shares Outstanding 131.2M shares 130.5M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $269.9M $330.0M
YoY Change -33.48% -22.76%
Cash & Equivalents $269.9M $330.0M
Short-Term Investments
Other Short-Term Assets $19.80M $19.23M
YoY Change 19.74% 20.79%
Inventory
Prepaid Expenses $19.83M $19.23M
Receivables $1.421M $823.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $291.2M $350.0M
YoY Change -31.66% -23.29%
LONG-TERM ASSETS
Property, Plant & Equipment $304.0K $325.0K
YoY Change -2.56% -0.91%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $893.0K $1.207M
YoY Change -56.55% -48.68%
TOTAL ASSETS
Total Short-Term Assets $291.2M $350.0M
Total Long-Term Assets $893.0K $1.207M
Total Assets $292.1M $351.2M
YoY Change -31.78% -23.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.511M $26.46M
YoY Change 0.67% 2382.08%
Accrued Expenses $32.13M $23.98M
YoY Change 38.88% 26.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $40.26M $51.36M
YoY Change 26.66% 141.75%
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 $40.26M $51.36M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $40.26M $51.36M
YoY Change 24.26% 131.72%
SHAREHOLDERS EQUITY
Retained Earnings -$698.9M -$640.3M
YoY Change 57.52% 61.77%
Common Stock $13.00K $13.00K
YoY Change 8.33% 8.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $251.8M $299.9M
YoY Change
Total Liabilities & Shareholders Equity $292.1M $351.2M
YoY Change -31.78% -23.42%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$58.66M -$73.94M
YoY Change 22.4% 83.13%
Depreciation, Depletion And Amortization $60.00K $53.00K
YoY Change 30.43% 20.45%
Cash From Operating Activities -$60.06M -$47.37M
YoY Change 197.53% -28.03%
INVESTING ACTIVITIES
Capital Expenditures $30.00K $45.00K
YoY Change -196.77% 7.14%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$30.00K -$45.00K
YoY Change -3.23% 7.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 150.0K $890.0K
YoY Change 4138.1%
NET CHANGE
Cash From Operating Activities -60.06M -$47.37M
Cash From Investing Activities -30.00K -$45.00K
Cash From Financing Activities 150.0K $890.0K
Net Change In Cash -59.94M -$46.57M
YoY Change 196.48% -30.08%
FREE CASH FLOW
Cash From Operating Activities -$60.06M -$47.37M
Capital Expenditures $30.00K $45.00K
Free Cash Flow -$60.09M -$47.42M
YoY Change 198.14% -28.01%

Facts In Submission

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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">[B] Use of Estimates</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and accompanying notes. The Company regularly evaluates estimates and assumptions related to assets, liabilities, stock-based compensation, litigation accruals, clinical trial accruals, operating leases, research and development costs and income taxes. The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Additionally, the Company assessed the impact of the post-COVID-19 environment, geopolitical tensions and global slowdown of economic activity, changes in inflation, rising interest rates and a potential recession in the U.S. on its operations and financial results as of June 30, 2023 and through the issuance of these unaudited condensed consolidated financial statements. The Company’s analysis was informed by the facts and circumstances as they were known to the Company. This assessment considered the impact that these uncertainties may have on financial estimates and assumptions that affect the reported amounts of assets and liabilities and expenses.</span></div>
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
58827000 usd
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M9D
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M9D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10653000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7555000 usd

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