$KRYS
Krystal Biotech, Inc.

2019 Q2 Form 10-Q Financial Statement

#000156459019028548 Filed on August 05, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.670M $920.0K
YoY Change 81.52% 240.74%
% of Gross Profit
Research & Development $4.216M $1.525M
YoY Change 176.46% 241.93%
% of Gross Profit
Depreciation & Amortization $175.0K $23.00K
YoY Change 660.87% 666.67%
% of Gross Profit
Operating Expenses $5.890M $2.449M
YoY Change 140.51% 242.52%
Operating Profit -$5.890M -$2.449M
YoY Change 140.51% 242.52%
Interest Expense $540.0K $170.0K
YoY Change 217.65% -525.0%
% of Operating Profit
Other Income/Expense, Net $542.0K $173.0K
YoY Change 213.29% -493.18%
Pretax Income -$5.350M -$2.280M
YoY Change 134.65% 200.0%
Income Tax
% Of Pretax Income
Net Earnings -$5.348M -$2.276M
YoY Change 134.97% 199.87%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$368.5K -$221.1K
COMMON SHARES
Basic Shares Outstanding 10.31M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $195.5M $45.50M
YoY Change 329.67% 1200.0%
Cash & Equivalents $186.6M $41.81M
Short-Term Investments $8.900M $3.600M
Other Short-Term Assets $700.0K $300.0K
YoY Change 133.33% -25.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $196.2M $45.70M
YoY Change 329.33% 1071.79%
LONG-TERM ASSETS
Property, Plant & Equipment $5.961M $300.0K
YoY Change 1887.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $86.00K $64.00K
YoY Change 34.38%
Total Long-Term Assets $8.953M $330.0K
YoY Change 2613.03% 230.0%
TOTAL ASSETS
Total Short-Term Assets $196.2M $45.70M
Total Long-Term Assets $8.953M $330.0K
Total Assets $205.2M $46.03M
YoY Change 345.7% 1050.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $896.0K $214.0K
YoY Change 318.69% -28.67%
Accrued Expenses $2.600M $500.0K
YoY Change 420.0% 25.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.940M $759.0K
YoY Change 419.1% -84.19%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.900M
YoY Change
Total Long-Term Liabilities $2.900M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.940M $759.0K
Total Long-Term Liabilities $2.900M $0.00
Total Liabilities $6.866M $759.0K
YoY Change 804.61% -84.19%
SHAREHOLDERS EQUITY
Retained Earnings -$29.42M -$13.50M
YoY Change 117.98%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $198.3M $45.27M
YoY Change
Total Liabilities & Shareholders Equity $205.2M $46.03M
YoY Change 345.7% 1050.75%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$5.348M -$2.276M
YoY Change 134.97% 199.87%
Depreciation, Depletion And Amortization $175.0K $23.00K
YoY Change 660.87% 666.67%
Cash From Operating Activities -$4.200M -$1.620M
YoY Change 159.26% 295.12%
INVESTING ACTIVITIES
Capital Expenditures -$1.240M -$100.0K
YoY Change 1140.0% 233.33%
Acquisitions
YoY Change
Other Investing Activities $10.00K -$3.700M
YoY Change -100.27%
Cash From Investing Activities -$1.240M -$3.800M
YoY Change -67.37% 12566.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 94.02M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -4.200M -1.620M
Cash From Investing Activities -1.240M -3.800M
Cash From Financing Activities 94.02M 0.000
Net Change In Cash 88.58M -5.420M
YoY Change -1734.32% -447.44%
FREE CASH FLOW
Cash From Operating Activities -$4.200M -$1.620M
Capital Expenditures -$1.240M -$100.0K
Free Cash Flow -$2.960M -$1.520M
YoY Change 94.74% 300.0%

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.86%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. This process may result in actual results differing materially from those estimated amounts used in the preparation of the financial statements. Estimates are used in the following areas including stock-based compensation expense, accrued research and development expenses, the fair value of financial instruments and the valuation allowance included in deferred income taxes calculations.</p>
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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentrations of Credit Risk and&#160;Off-Balance&#160;Sheet Risk</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.86%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to credit risk consist of cash, cash equivalents and short-term investments. The Company&#8217;s policy is to invest its cash and cash equivalents in money market funds and various bank deposit accounts. The counterparties to the agreements relating to the Company&#8217;s investments consist of financial institutions of high credit standing. The Company is exposed to credit risk in the event of default by the financial institutions to the extent of amounts recorded on the balance sheets which may be in excess of insured limits.&#160;The Company has not experienced any credit losses in such accounts and does not believe it is exposed to any significant credit risk on these funds. The Company has no financial instruments with&#160;off-balance&#160;sheet risk of loss.</p>
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y
CY2019Q2 krys Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
2606000
CY2018Q4 krys Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
1708000
CY2019Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
174000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
299000
CY2018Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
34000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
65000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
42000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
109500
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
80500
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
135500
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
357089
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
16153
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
16500
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
433936
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
131348
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
151744
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.73
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
27.14
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.43
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
19.65
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.16
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.68
krys Share Based Compensation Arrangement By Share Based Payment Award Options Vested Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedWeightedAverageExercisePrice
6.22
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
252000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
110000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
456000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
175000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
588574

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