$MCRB
Seres Therapeutics, Inc.

2016 Q1 Form 10-K Financial Statement

#000156459016014692 Filed on March 14, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 2014 Q4
Revenue $2.710M $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.210M $16.76M $2.150M
YoY Change 176.25% 284.4% 451.28%
% of Gross Profit
Research & Development $15.42M $38.10M $5.060M
YoY Change 177.22% 255.43% 232.89%
% of Gross Profit
Depreciation & Amortization $386.0K $728.0K $100.0K
YoY Change 319.57% 283.16%
% of Gross Profit
Operating Expenses $22.63M $54.86M $7.213M
YoY Change 177.04% 263.72% 277.64%
Operating Profit -$19.92M -$54.86M -$7.213M
YoY Change 143.86% 263.72%
Interest Expense $270.0K $630.0K -$910.0K
YoY Change 28.57% -144.37% 9000.0%
% of Operating Profit
Other Income/Expense, Net $212.0K $76.00K -$60.00K
YoY Change 8.16% -104.67% 50.0%
Pretax Income -$19.70M -$54.78M -$8.180M
YoY Change 147.18% 227.83% 319.49%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$19.70M -$54.78M -$8.182M
YoY Change 147.2% 227.85% 319.59%
Net Earnings / Revenue -727.08%
Basic Earnings Per Share
Diluted Earnings Per Share -$502.7K -$2.328M -$216.2K
COMMON SHARES
Basic Shares Outstanding 39.19M
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $303.3M $205.1M $114.2M
YoY Change 190.8% 79.6%
Cash & Equivalents $193.2M $73.90M $114.2M
Short-Term Investments $110.1M $131.1M $0.00
Other Short-Term Assets $3.600M $2.500M $100.0K
YoY Change 350.0% 2400.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $306.8M $207.6M $114.2M
YoY Change 191.91% 81.79%
LONG-TERM ASSETS
Property, Plant & Equipment $16.10M $7.800M $1.264M
YoY Change 1138.46% 500.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.500M $1.500M $1.800M
YoY Change -31.82% -16.67%
Total Long-Term Assets $17.70M $9.300M $3.102M
YoY Change 405.71% 200.0%
TOTAL ASSETS
Total Short-Term Assets $306.8M $207.6M $114.2M
Total Long-Term Assets $17.70M $9.300M $3.102M
Total Assets $324.5M $216.9M $117.3M
YoY Change 198.8% 84.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.800M $5.400M $2.166M
YoY Change 427.27% 145.45%
Accrued Expenses $1.200M $2.800M $500.0K
YoY Change 300.0% 460.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $1.200M
YoY Change -100.0%
Total Short-Term Liabilities $24.82M $10.90M $5.103M
YoY Change 630.06% 113.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $1.300M
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $109.8M $600.0K $1.600M
YoY Change 7742.86% -62.5%
Total Long-Term Liabilities $109.8M $600.0K $2.900M
YoY Change 4475.0% -79.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.82M $10.90M $5.103M
Total Long-Term Liabilities $109.8M $600.0K $2.900M
Total Liabilities $134.6M $11.50M $7.989M
YoY Change 2221.36% 43.75%
SHAREHOLDERS EQUITY
Retained Earnings -$102.3M -$27.83M
YoY Change
Common Stock $292.0M $1.111M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $189.8M $205.4M -$26.72M
YoY Change
Total Liabilities & Shareholders Equity $324.5M $216.9M $117.3M
YoY Change 198.77% 84.91%

Cashflow Statement

Concept 2016 Q1 2015 2014 Q4
OPERATING ACTIVITIES
Net Income -$19.70M -$54.78M -$8.182M
YoY Change 147.2% 227.85% 319.59%
Depreciation, Depletion And Amortization $386.0K $728.0K $100.0K
YoY Change 319.57% 283.16%
Cash From Operating Activities $101.4M -$40.84M -$4.200M
YoY Change -1321.69% 294.21% 162.5%
INVESTING ACTIVITIES
Capital Expenditures $3.400M $4.362M -$400.0K
YoY Change 1488.79% 335.76% 300.0%
Acquisitions
YoY Change
Other Investing Activities $21.10M -$132.8M $0.00
YoY Change -135.58% 132670.0%
Cash From Investing Activities $17.70M -$137.1M -$400.0K
YoY Change -129.75% 12366.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $143.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 200.0K 137.7M 111.6M
YoY Change -115.38% 11.08%
NET CHANGE
Cash From Operating Activities 101.4M -40.84M -4.200M
Cash From Investing Activities 17.70M -137.1M -400.0K
Cash From Financing Activities 200.0K 137.7M 111.6M
Net Change In Cash 119.3M -40.24M 107.0M
YoY Change -272.65% -135.76% -6787.5%
FREE CASH FLOW
Cash From Operating Activities $101.4M -$40.84M -$4.200M
Capital Expenditures $3.400M $4.362M -$400.0K
Free Cash Flow $98.00M -$45.20M -$3.800M
YoY Change -1251.05% 297.87% 153.33%

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944000
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112531000
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<div> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the accrual of research and development expenses and the valuation of common stock, stock-based awards and the preferred stock warrant liability. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Actual results could differ from the Company&#8217;s estimates.</p></div>
CY2015 us-gaap Concentration Risk Credit Risk
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<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk and of Significant Suppliers</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash, cash equivalents and investments. The Company has all cash, cash equivalents and investments balances at one accredited financial institution, in amounts that exceed federally insured limits. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is dependent on third-party manufacturers to supply products for research and development activities of its programs, including pre-clinical and clinical testing. These programs could be adversely affected by a significant interruption in the supply of such drug substance products.</p></div>
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CY2015 us-gaap Lease Expiration Date1
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