$MCRB
Seres Therapeutics, Inc.

2018 Q3 Form 10-Q Financial Statement

#000156459018018757 Filed on August 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q2
Revenue $9.055M $4.612M $3.014M
YoY Change -60.66% 53.02% 0.33%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.590M $8.700M $8.370M
YoY Change -6.53% 3.94% -6.9%
% of Gross Profit
Research & Development $23.68M $24.05M $23.06M
YoY Change 6.6% 4.31% 4.0%
% of Gross Profit
Depreciation & Amortization $1.974M $1.954M $1.760M
YoY Change 5.79% 11.02% 101.37%
% of Gross Profit
Operating Expenses $31.27M $32.75M $31.43M
YoY Change 3.09% 4.19% 0.92%
Operating Profit -$22.21M -$28.14M -$28.42M
YoY Change 203.68% -0.99% 0.98%
Interest Expense $262.0K $349.0K $620.0K
YoY Change -47.6% -43.71% 226.32%
% of Operating Profit
Other Income/Expense, Net $262.0K $349.0K $398.0K
YoY Change -30.87% -12.31% 75.33%
Pretax Income -$21.95M -$27.79M -$28.02M
YoY Change 216.28% -0.82% 0.39%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$21.95M -$27.79M -$28.02M
YoY Change 216.5% -0.82% 0.38%
Net Earnings / Revenue -242.4% -602.49% -929.6%
Basic Earnings Per Share
Diluted Earnings Per Share -$537.9K -$683.5K -$693.7K
COMMON SHARES
Basic Shares Outstanding 40.80M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $72.89M $96.10M $171.2M
YoY Change -57.45% -43.87% -19.21%
Cash & Equivalents $55.71M $57.96M $33.64M
Short-Term Investments $17.18M $38.10M $137.6M
Other Short-Term Assets $6.600M $5.500M $4.800M
YoY Change 24.53% 14.58% -7.69%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $79.40M $101.5M $176.1M
YoY Change -55.04% -42.34% -18.89%
LONG-TERM ASSETS
Property, Plant & Equipment $28.10M $29.90M $34.80M
YoY Change -16.62% -14.07% 28.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.000M
YoY Change -93.4%
Other Assets $1.500M $1.500M $1.500M
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $29.60M $31.42M $40.24M
YoY Change -16.15% -21.92% -54.84%
TOTAL ASSETS
Total Short-Term Assets $79.40M $101.5M $176.1M
Total Long-Term Assets $29.60M $31.42M $40.24M
Total Assets $109.0M $133.0M $216.3M
YoY Change -48.56% -38.54% -29.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.500M $5.158M $3.889M
YoY Change 20.37% 32.63% -13.58%
Accrued Expenses $4.000M $3.100M $2.700M
YoY Change 21.21% 14.81% 12.5%
Deferred Revenue $17.90M $17.96M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $39.00M $36.77M $25.67M
YoY Change 44.44% 43.27% -5.99%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.129M $1.129M $102.7M
YoY Change -98.86% -98.9% -7.89%
Total Long-Term Liabilities $1.129M $1.129M $102.7M
YoY Change -98.86% -98.9% -7.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $39.00M $36.77M $25.67M
Total Long-Term Liabilities $1.129M $1.129M $102.7M
Total Liabilities $139.6M $37.90M $128.4M
YoY Change 10.45% -70.48% -7.49%
SHAREHOLDERS EQUITY
Retained Earnings -$368.1M -$346.1M
YoY Change 56.89%
Common Stock $337.5M $332.9M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$30.57M -$13.25M $87.90M
YoY Change
Total Liabilities & Shareholders Equity $109.0M $133.0M $216.3M
YoY Change -48.54% -38.53% -29.36%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$21.95M -$27.79M -$28.02M
YoY Change 216.5% -0.82% 0.38%
Depreciation, Depletion And Amortization $1.974M $1.954M $1.760M
YoY Change 5.79% 11.02% 101.37%
Cash From Operating Activities -$23.10M -$25.60M -$25.70M
YoY Change 541.67% -0.39% 1.58%
INVESTING ACTIVITIES
Capital Expenditures -$400.0K -$700.0K -$1.300M
YoY Change -20.0% -46.15% -80.0%
Acquisitions
YoY Change
Other Investing Activities $21.10M $37.00M $18.80M
YoY Change 29.45% 96.81% -118.38%
Cash From Investing Activities $20.50M $36.40M $17.50M
YoY Change 29.75% 108.0% -116.08%
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 100.0K 0.000
YoY Change 200.0% -100.0%
NET CHANGE
Cash From Operating Activities -23.10M -25.60M -25.70M
Cash From Investing Activities 20.50M 36.40M 17.50M
Cash From Financing Activities 300.0K 100.0K 0.000
Net Change In Cash -2.300M 10.90M -8.200M
YoY Change -118.7% -232.93% -93.85%
FREE CASH FLOW
Cash From Operating Activities -$23.10M -$25.60M -$25.70M
Capital Expenditures -$400.0K -$700.0K -$1.300M
Free Cash Flow -$22.70M -$24.90M -$24.40M
YoY Change 632.26% 2.05% 29.79%

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<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;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, revenue recognition, the accrual of research and development expenses and the valuation of stock-based awards. 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>
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P6Y9M10D
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
15808000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
11509000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
11509000
CY2018Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
11390000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.89
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.44
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4334000
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4503000
mcrb Period Of Performance Identifiable Deliverables
PeriodOfPerformanceIdentifiableDeliverables
P10Y
CY2018Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
4271000
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
8037000
CY2018Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
151000000
CY2016Q1 mcrb Collaborative Arrangement Upfront License Fee Received
CollaborativeArrangementUpfrontLicenseFeeReceived
120000000
mcrb Collaborative Arrangement Upfront License Fee Received
CollaborativeArrangementUpfrontLicenseFeeReceived
120000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2018Q2 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2017Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0

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