$KRYS
Krystal Biotech, Inc.

2020 Q2 Form 10-Q Financial Statement

#000156459020038503 Filed on August 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2018 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.320M $1.670M $1.420M
YoY Change 98.8% 81.52% 246.34%
% of Gross Profit
Research & Development $3.639M $4.216M $2.800M
YoY Change -13.69% 176.46% 156.88%
% of Gross Profit
Depreciation & Amortization $394.0K $175.0K $60.00K
YoY Change 125.14% 660.87% 500.0%
% of Gross Profit
Operating Expenses $6.954M $5.890M $4.220M
YoY Change 18.06% 140.51% 181.33%
Operating Profit -$6.954M -$5.890M
YoY Change 18.06% 140.51%
Interest Expense $0.00 $540.0K $510.0K
YoY Change -100.0% 217.65% 363.64%
% of Operating Profit
Other Income/Expense, Net $542.0K
YoY Change 213.29%
Pretax Income -$6.830M -$5.350M -$3.710M
YoY Change 27.66% 134.65% 166.91%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$6.833M -$5.348M -$3.710M
YoY Change 27.77% 134.97% 166.91%
Net Earnings / Revenue
Basic Earnings Per Share -$0.37
Diluted Earnings Per Share -$0.37 -$368.5K -$273.4K
COMMON SHARES
Basic Shares Outstanding 18.38M shares
Diluted Shares Outstanding 18.38M shares

Balance Sheet

Concept 2020 Q2 2019 Q2 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $297.2M $195.5M $111.8M
YoY Change 52.01% 329.67% 125.32%
Cash & Equivalents $291.7M $186.6M $103.7M
Short-Term Investments $5.496M $8.900M $8.091M
Other Short-Term Assets $1.400M $700.0K $900.0K
YoY Change 100.0% 133.33% 4636.84%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $298.5M $196.2M $112.7M
YoY Change 52.14% 329.33% 125.69%
LONG-TERM ASSETS
Property, Plant & Equipment $15.80M $5.961M $3.014M
YoY Change 165.06% 1887.0% 1407.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $1.436M $86.00K $452.0K
YoY Change 1569.77% 34.38%
Total Long-Term Assets $19.65M $8.953M $3.466M
YoY Change 119.42% 2613.03% 1633.0%
TOTAL ASSETS
Total Short-Term Assets $298.5M $196.2M $112.7M
Total Long-Term Assets $19.65M $8.953M $3.466M
Total Assets $318.1M $205.2M $116.1M
YoY Change 55.07% 345.7% 131.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.613M $896.0K $888.0K
YoY Change 80.02% 318.69% 360.1%
Accrued Expenses $4.100M $2.600M $1.500M
YoY Change 57.69% 420.0% 275.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.800M $3.940M $2.596M
YoY Change 47.21% 419.1% 305.63%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.600M $2.900M $294.0K
YoY Change -10.34%
Total Long-Term Liabilities $2.600M $2.900M $294.0K
YoY Change -10.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.800M $3.940M $2.596M
Total Long-Term Liabilities $2.600M $2.900M $294.0K
Total Liabilities $8.400M $6.866M $2.890M
YoY Change 22.34% 804.61% 351.56%
SHAREHOLDERS EQUITY
Retained Earnings -$29.42M -$19.96M
YoY Change 117.98% 120.06%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $309.7M $198.3M $113.2M
YoY Change
Total Liabilities & Shareholders Equity $318.1M $205.2M $116.1M
YoY Change 55.05% 345.7% 131.7%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2018 Q4
OPERATING ACTIVITIES
Net Income -$6.833M -$5.348M -$3.710M
YoY Change 27.77% 134.97% 166.91%
Depreciation, Depletion And Amortization $394.0K $175.0K $60.00K
YoY Change 125.14% 660.87% 500.0%
Cash From Operating Activities -$5.060M -$4.200M -$3.520M
YoY Change 20.48% 159.26% 65.26%
INVESTING ACTIVITIES
Capital Expenditures -$1.940M -$1.240M -$1.300M
YoY Change 56.45% 1140.0% 712.5%
Acquisitions
YoY Change
Other Investing Activities $1.000M $10.00K -$2.460M
YoY Change 9900.0% -100.27%
Cash From Investing Activities -$950.0K -$1.240M -$3.760M
YoY Change -23.39% -67.37% 2250.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 117.5M 94.02M 64.29M
YoY Change 24.94% -9417.39%
NET CHANGE
Cash From Operating Activities -5.060M -4.200M -3.520M
Cash From Investing Activities -950.0K -1.240M -3.760M
Cash From Financing Activities 117.5M 94.02M 64.29M
Net Change In Cash 111.5M 88.58M 57.01M
YoY Change 25.83% -1734.32% -2013.09%
FREE CASH FLOW
Cash From Operating Activities -$5.060M -$4.200M -$3.520M
Capital Expenditures -$1.940M -$1.240M -$1.300M
Free Cash Flow -$3.120M -$2.960M -$2.220M
YoY Change 5.41% 94.74% 12.69%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Research And Development Expense
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us-gaap Research And Development Expense
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CY2020Q2 us-gaap Operating Lease Right Of Use Asset
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CY2020Q2 us-gaap Depreciation
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us-gaap Use Of Estimates
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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 U.S. 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, incremental borrowing rate for lease liability, and the valuation allowance included in the deferred income tax calculation.</p>
us-gaap Depreciation
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us-gaap Depreciation
Depreciation
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us-gaap Concentration Risk Credit Risk
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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 investments. The Company&#8217;s policy is to invest its cash, cash equivalents and investments in money market funds, certificates of deposit and various other 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 amounts recorded on the balance sheets are 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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OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y8M12D
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.080
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.080
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
145000
us-gaap Operating Lease Cost
OperatingLeaseCost
310000
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
165000
us-gaap Operating Lease Cost
OperatingLeaseCost
282000
CY2020Q2 us-gaap Variable Lease Cost
VariableLeaseCost
15000
us-gaap Variable Lease Cost
VariableLeaseCost
28000
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
9000
us-gaap Variable Lease Cost
VariableLeaseCost
17000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
315400
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
544400
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
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
420766
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
34124
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
99932
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
831110
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
136967
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.71
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
48.10
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
12.48
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
21.68
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
37.36
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.71
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y4M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y3M18D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
15859000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3700000
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
7351000
CY2020Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
4480000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
325000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1346000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
638000

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