2019 Q2 Form 10-Q Financial Statement

#000106282219000022 Filed on August 01, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $9.682M $13.80M
YoY Change -29.83% 14.16%
Cost Of Revenue $1.327M $838.0K
YoY Change 58.35% 56.05%
Gross Profit $8.355M $12.96M
YoY Change -35.53% 12.21%
Gross Profit Margin 86.29% 93.93%
Selling, General & Admin $14.30M $16.80M
YoY Change -14.88% -9.07%
% of Gross Profit 171.15% 129.63%
Research & Development $12.64M $26.48M
YoY Change -52.27% -1.7%
% of Gross Profit 151.25% 204.3%
Depreciation & Amortization $900.0K $1.000M
YoY Change -10.0% 0.0%
% of Gross Profit 10.77% 7.72%
Operating Expenses $28.23M $44.07M
YoY Change -35.95% -4.08%
Operating Profit -$18.55M -$30.27M
YoY Change -38.74% -9.61%
Interest Expense $5.164M $5.187M
YoY Change -0.44% 221.38%
% of Operating Profit
Other Income/Expense, Net $691.0K $910.0K
YoY Change -24.07% 103.13%
Pretax Income -$23.00M -$34.71M
YoY Change -33.73% -1.01%
Income Tax
% Of Pretax Income
Net Earnings -$23.02M -$34.55M
YoY Change -33.38% -0.31%
Net Earnings / Revenue -237.74% -250.39%
Basic Earnings Per Share -$0.22
Diluted Earnings Per Share -$0.22 -$326.1K
COMMON SHARES
Basic Shares Outstanding 106.3M shares 105.8M shares
Diluted Shares Outstanding 106.3M shares

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $106.0M $209.7M
YoY Change -49.45% -9.3%
Cash & Equivalents $11.11M $48.90M
Short-Term Investments $94.90M $194.6M
Other Short-Term Assets $6.625M $3.954M
YoY Change 67.55% -61.14%
Inventory $4.277M $2.142M
Prepaid Expenses
Receivables $5.580M $4.406M
Other Receivables $0.00 $0.00
Total Short-Term Assets $122.5M $220.2M
YoY Change -44.39% -10.92%
LONG-TERM ASSETS
Property, Plant & Equipment $15.01M $16.77M
YoY Change -10.52% -9.77%
Goodwill $44.54M $44.54M
YoY Change 0.0% 0.0%
Intangibles $49.24M $51.00M
YoY Change -3.46% -3.35%
Long-Term Investments
YoY Change
Other Assets $1.898M $429.0K
YoY Change 342.42% 0.23%
Total Long-Term Assets $110.7M $112.7M
YoY Change -1.83% -3.08%
TOTAL ASSETS
Total Short-Term Assets $122.5M $220.2M
Total Long-Term Assets $110.7M $112.7M
Total Assets $233.1M $332.9M
YoY Change -29.97% -8.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.03M $50.45M
YoY Change -80.12% 15.04%
Accrued Expenses $9.083M $12.87M
YoY Change -29.4% 17.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.115M $12.90M
YoY Change -91.35% -14.91%
Total Short-Term Liabilities $22.47M $81.34M
YoY Change -72.38% -38.92%
LONG-TERM LIABILITIES
Long-Term Debt $244.0M $232.2M
YoY Change 5.06% 171.95%
Other Long-Term Liabilities $1.325M $265.0K
YoY Change 400.0% -15.34%
Total Long-Term Liabilities $245.3M $232.5M
YoY Change 5.51% 171.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.47M $81.34M
Total Long-Term Liabilities $245.3M $232.5M
Total Liabilities $298.0M $338.0M
YoY Change -11.83% 31.42%
SHAREHOLDERS EQUITY
Retained Earnings -$1.516B -$1.444B
YoY Change 5.02% 9.2%
Common Stock $106.0K $106.0K
YoY Change 0.0% 0.95%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.817M $2.876M
YoY Change 32.72% 51.05%
Treasury Stock Shares 407.0K shares 236.0K shares
Shareholders Equity -$64.89M -$5.071M
YoY Change
Total Liabilities & Shareholders Equity $233.1M $332.9M
YoY Change -29.97% -8.41%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$23.02M -$34.55M
YoY Change -33.38% -0.31%
Depreciation, Depletion And Amortization $900.0K $1.000M
YoY Change -10.0% 0.0%
Cash From Operating Activities -$26.90M -$52.50M
YoY Change -48.76% 63.04%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$100.0K
YoY Change -100.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities -$7.400M $47.40M
YoY Change -115.61% -16.7%
Cash From Investing Activities -$7.500M $47.30M
YoY Change -115.86% -16.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -300.0K -200.0K
YoY Change 50.0% -105.41%
NET CHANGE
Cash From Operating Activities -26.90M -52.50M
Cash From Investing Activities -7.500M 47.30M
Cash From Financing Activities -300.0K -200.0K
Net Change In Cash -34.70M -5.400M
YoY Change 542.59% -119.15%
FREE CASH FLOW
Cash From Operating Activities -$26.90M -$52.50M
Capital Expenditures $0.00 -$100.0K
Free Cash Flow -$26.90M -$52.40M
YoY Change -48.66% 63.24%

Facts In Submission

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LesseeOperatingLeaseLiabilityPaymentsDueYearThree
632000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
620000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
322000 USD
CY2018Q4 us-gaap Liabilities
Liabilities
310541000 USD
CY2019Q2 us-gaap Liabilities
Liabilities
298029000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2019Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2018Q4 us-gaap Liabilities Current
LiabilitiesCurrent
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CY2019Q2 us-gaap Liabilities Current
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22469000 USD
CY2018Q4 us-gaap Long Term Debt Current
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CY2019Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
1115000 USD
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
243887000 USD
CY2019Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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us-gaap Net Cash Provided By Used In Financing Activities
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-1749000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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-1584000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
54430000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-15176000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-99298000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-52520000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-34549000 USD
us-gaap Net Income Loss
NetIncomeLoss
-76369000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-67984000 USD
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-18545000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-36014000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-23018000 USD
us-gaap Net Income Loss
NetIncomeLoss
-44815000 USD
us-gaap New Accounting Pronouncement Or Change In Accounting Principle Effect Of Adoption Quantification
NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification
14212000 USD
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
44070000 USD
us-gaap Operating Expenses
OperatingExpenses
107156000 USD
CY2019Q2 us-gaap Operating Expenses
OperatingExpenses
28227000 USD
us-gaap Operating Expenses
OperatingExpenses
54912000 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-30272000 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1878000 USD
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
553000 USD
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
600000 USD
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1325000 USD
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1300000 USD
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1900000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2100000 USD
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
2668000 USD
CY2019Q2 us-gaap Other Assets Current
OtherAssetsCurrent
6625000 USD
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
285000 USD
CY2019Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1898000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-172000 USD
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
176000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
4000 USD
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
45000 USD
CY2019Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
53000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
98000 USD
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
238000 USD
CY2019Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1325000 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
910000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1915000 USD
CY2019Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
691000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1480000 USD
CY2014Q4 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
3400000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
972000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
941000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
49638000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
106706000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
55000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
70000 USD
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q2 us-gaap Property Plant And Equipment Net
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15007000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
0 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
91600000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15865000 USD
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
87500000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
392000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
104123000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1169000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
643000 USD
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
26477000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
74173000 USD
CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12637000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
24659000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1471577000 USD
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1516392000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6404000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
26236000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
860000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3299000 USD
CY2018Q2 us-gaap Revenues
Revenues
13798000 USD
us-gaap Revenues
Revenues
39172000 USD
CY2019Q2 us-gaap Revenues
Revenues
9682000 USD
us-gaap Revenues
Revenues
18898000 USD
CY2018Q2 us-gaap Royalty Income Nonoperating
RoyaltyIncomeNonoperating
78000 USD
us-gaap Royalty Income Nonoperating
RoyaltyIncomeNonoperating
160000 USD
CY2019Q2 us-gaap Royalty Income Nonoperating
RoyaltyIncomeNonoperating
150000 USD
us-gaap Royalty Income Nonoperating
RoyaltyIncomeNonoperating
187000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5972000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7177000 USD
CY2018Q4 us-gaap Short Term Investments
ShortTermInvestments
79666000 USD
CY2019Q2 us-gaap Short Term Investments
ShortTermInvestments
94871000 USD
CY2018Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
25000 USD
CY2018Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
367000 USD
CY2019Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
0 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
-26405000 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
-64886000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
68265000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
42612000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11504000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-26405000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-45687000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-64886000 USD
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2876000 USD
CY2019Q2 us-gaap Treasury Stock Value
TreasuryStockValue
3817000 USD
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
236000 shares
CY2019Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
407000 shares
CY2018Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
972000 USD
CY2019Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
941000 USD
CY2019Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1200000 USD
us-gaap Unrealized Gain Loss On Investments
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4000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
98000 USD
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
105848000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
105758000 shares
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
106272000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
106164000 shares
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Concentration of Credit Risk:</font><font style="font-family:inherit;font-size:10pt;"> Lexicon&#8217;s cash equivalents, short-term investments and accounts receivable represent potential concentrations of credit risk. The Company attempts to minimize potential concentrations of risk in cash equivalents and short-term investments by placing investments in high-quality financial instruments. The Company&#8217;s accounts receivable are unsecured and are concentrated in pharmaceutical and biotechnology companies located in Europe and the United States.&#160;&#160;The Company has not experienced any significant credit losses to date.&#160;&#160;</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates:</font><font style="font-family:inherit;font-size:10pt;"> The preparation of financial statements in conformity with U. S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.</font></div></div>

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0001062822-19-000022.txt Edgar Link pending
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exh311certificationofprinc.htm Edgar Link pending
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