$IMVT
Immunovant, Inc.

2024 Q1 Form 10-Q Financial Statement

#000176401324000026 Filed on February 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $14.82M $13.22M
YoY Change 19.33% 12.23%
% of Gross Profit
Research & Development $66.06M $48.34M
YoY Change 27.43% 14.4%
% of Gross Profit
Depreciation & Amortization $64.00K $57.00K
YoY Change 18.52% 16.33%
% of Gross Profit
Operating Expenses $80.88M $61.55M
YoY Change 25.86% -3.86%
Operating Profit
YoY Change
Interest Expense $8.379M $8.933M
YoY Change 140.78% 203.43%
% of Operating Profit
Other Income/Expense, Net -$2.587M $1.094M
YoY Change -826.69% -162.27%
Pretax Income -$75.09M -$51.53M
YoY Change 24.27% -18.0%
Income Tax $232.0K -$108.0K
% Of Pretax Income
Net Earnings -$75.32M -$51.42M
YoY Change 26.73% -18.68%
Net Earnings / Revenue
Basic Earnings Per Share -$0.36
Diluted Earnings Per Share -$0.52 -$0.36
COMMON SHARES
Basic Shares Outstanding 145.3M shares 144.7M shares
Diluted Shares Outstanding 144.5M shares

Balance Sheet

Concept 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $635.4M $690.9M
YoY Change 68.74% 59.71%
Cash & Equivalents $635.4M $690.9M
Short-Term Investments
Other Short-Term Assets $24.90M $18.81M
YoY Change -7.48% -10.9%
Inventory
Prepaid Expenses $24.90M $18.81M
Receivables $5.337M $1.029M
Other Receivables $166.0K $0.00
Total Short-Term Assets $665.8M $710.8M
YoY Change 64.66% 56.41%
LONG-TERM ASSETS
Property, Plant & Equipment $462.0K $376.0K
YoY Change 38.74% 3.87%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $595.0K $670.0K
YoY Change -60.47% -63.21%
TOTAL ASSETS
Total Short-Term Assets $665.8M $710.8M
Total Long-Term Assets $595.0K $670.0K
Total Assets $666.4M $711.4M
YoY Change 64.19% 55.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.155M $3.910M
YoY Change 428.82% -72.08%
Accrued Expenses $41.30M $27.89M
YoY Change 2.17% 7.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $48.61M $32.10M
YoY Change 12.27% -22.19%
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 $48.61M $32.10M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $48.61M $32.10M
YoY Change 12.14% -22.77%
SHAREHOLDERS EQUITY
Retained Earnings -$825.7M -$750.4M
YoY Change 45.81% 48.04%
Common Stock $14.00K $14.00K
YoY Change 7.69% 7.69%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $617.8M $679.3M
YoY Change
Total Liabilities & Shareholders Equity $666.4M $711.4M
YoY Change 64.19% 55.94%

Cashflow Statement

Concept 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$75.32M -$51.42M
YoY Change 26.73% -18.68%
Depreciation, Depletion And Amortization $64.00K $57.00K
YoY Change 18.52% 16.33%
Cash From Operating Activities -$59.70M -$47.10M
YoY Change 7.0% 1.52%
INVESTING ACTIVITIES
Capital Expenditures $150.0K $130.0K
YoY Change 476.92% 32.65%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$150.0K -$130.0K
YoY Change 476.92% 32.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.545M 469.8M
YoY Change 563.09% 565.21%
NET CHANGE
Cash From Operating Activities -59.70M -47.10M
Cash From Investing Activities -150.0K -130.0K
Cash From Financing Activities 1.545M 469.8M
Net Change In Cash -58.30M 422.6M
YoY Change 4.89% 1650.82%
FREE CASH FLOW
Cash From Operating Activities -$59.70M -$47.10M
Capital Expenditures $150.0K $130.0K
Free Cash Flow -$59.85M -$47.23M
YoY Change 7.22% 1.58%

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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, heightened interest rates and a potential recession in the U.S. on its operations and financial results as of December 31, 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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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.18
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y10M20D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
236767000 usd
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M9D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M9D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M9D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M9D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10197000 usd
CY2022Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8856000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
31351000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
24462000 usd
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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exhibit101-20231231q3.htm Edgar Link pending
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