2019 Q2 Form 10-Q Financial Statement

#000112534519000059 Filed on May 01, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2019 Q1 2018 Q1
Revenue $10.59M $9.662M $4.695M
YoY Change -43.76% 105.79% 128.47%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $12.10M $10.20M $9.200M
YoY Change 9.01% 10.87% 22.67%
% of Gross Profit
Research & Development $51.44M $47.06M $45.67M
YoY Change -1.1% 3.04% 39.23%
% of Gross Profit
Depreciation & Amortization $2.580M $2.903M $1.338M
YoY Change 115.0% 116.97% -32.36%
% of Gross Profit
Operating Expenses $51.44M $47.06M $45.67M
YoY Change -1.1% 3.04% 39.23%
Operating Profit -$52.97M -$47.62M -$50.21M
YoY Change 19.53% -5.16% 31.41%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $21.20M $2.600M $674.0K
YoY Change 1881.5% 285.76% 21.88%
Pretax Income -$31.80M -$45.00M -$49.50M
YoY Change -26.39% -9.09% 31.3%
Income Tax
% Of Pretax Income
Net Earnings -$31.77M -$45.02M -$49.54M
YoY Change -26.54% -9.12% 31.55%
Net Earnings / Revenue -299.89% -465.92% -1055.08%
Basic Earnings Per Share
Diluted Earnings Per Share -$651.6K -$986.8K -$1.341M
COMMON SHARES
Basic Shares Outstanding 48.81M shares 48.78M shares 36.94M shares
Diluted Shares Outstanding 36.94M shares

Balance Sheet

Concept 2019 Q2 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $272.1M $320.4M $260.1M
YoY Change -9.57% 23.18% 6.99%
Cash & Equivalents $180.3M $238.6M $200.4M
Short-Term Investments $91.80M $81.80M $59.60M
Other Short-Term Assets $9.800M $8.500M $3.600M
YoY Change 188.24% 136.11% -37.93%
Inventory
Prepaid Expenses $9.616M $8.309M $3.328M
Receivables $5.613M $6.115M $7.281M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $287.6M $335.0M $271.0M
YoY Change -10.7% 23.61% 7.98%
LONG-TERM ASSETS
Property, Plant & Equipment $52.30M $54.82M $53.44M
YoY Change -9.04% 2.57% 207.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $43.79M $24.79M $1.596M
YoY Change 496.04% 1453.07% 17.35%
Total Long-Term Assets $96.08M $79.61M $55.04M
YoY Change 48.19% 44.63% 132.09%
TOTAL ASSETS
Total Short-Term Assets $287.6M $335.0M $271.0M
Total Long-Term Assets $96.08M $79.61M $55.04M
Total Assets $383.7M $414.6M $326.1M
YoY Change -0.83% 27.16% 18.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $857.0K $925.0K $10.27M
YoY Change -51.5% -90.99% 577.62%
Accrued Expenses $30.41M $28.85M $30.49M
YoY Change -18.21% -5.37% 69.79%
Deferred Revenue $14.45M $18.09M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $49.54M $51.77M $49.96M
YoY Change 3.14% 3.63% 88.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $39.70M $42.30M $28.80M
YoY Change 48.13% 46.88% 113.33%
Total Long-Term Liabilities $39.70M $42.30M $28.80M
YoY Change 48.13% 46.88% 113.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $49.54M $51.77M $49.96M
Total Long-Term Liabilities $39.70M $42.30M $28.80M
Total Liabilities $89.23M $94.02M $78.80M
YoY Change 19.2% 19.31% 96.6%
SHAREHOLDERS EQUITY
Retained Earnings -$567.1M -$535.3M -$318.8M
YoY Change 37.77% 67.9% -3.5%
Common Stock $861.5M $855.9M $615.7M
YoY Change 19.05% 39.02% 8.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $294.5M $320.6M $247.3M
YoY Change
Total Liabilities & Shareholders Equity $383.7M $414.6M $326.1M
YoY Change -0.83% 27.16% 18.69%

Cashflow Statement

Concept 2019 Q2 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$31.77M -$45.02M -$49.54M
YoY Change -26.54% -9.12% 31.55%
Depreciation, Depletion And Amortization $2.580M $2.903M $1.338M
YoY Change 115.0% 116.97% -32.36%
Cash From Operating Activities -$48.84M -$30.00M -$31.30M
YoY Change -15.4% -4.15% -11.41%
INVESTING ACTIVITIES
Capital Expenditures -$580.0K $1.675M $14.52M
YoY Change -89.45% -88.46% 873.12%
Acquisitions
YoY Change
Other Investing Activities -$9.530M -$68.82M $33.91M
YoY Change 312.55% -302.95% -593.6%
Cash From Investing Activities -$10.12M -$70.49M $19.39M
YoY Change 29.58% -463.55% -331.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $118.7M $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 630.0K $119.0M 630.0K
YoY Change -99.39% 18789.68% 472.73%
NET CHANGE
Cash From Operating Activities -48.84M -$30.00M -31.30M
Cash From Investing Activities -10.12M -$70.49M 19.39M
Cash From Financing Activities 630.0K $119.0M 630.0K
Net Change In Cash -58.33M $18.51M -11.28M
YoY Change -252.66% -264.12% -74.12%
FREE CASH FLOW
Cash From Operating Activities -$48.84M -$30.00M -$31.30M
Capital Expenditures -$580.0K $1.675M $14.52M
Free Cash Flow -$48.26M -$31.68M -$45.82M
YoY Change -7.6% -30.87% 24.43%

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LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5322000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5468000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
5279000 USD
CY2019Q1 mgnx Lessee Operating Lease Liability Payments Due Year Six
LesseeOperatingLeaseLiabilityPaymentsDueYearSix
4293000 USD
CY2019Q1 mgnx Lessee Operating Lease Liability Payments Due After Year Six
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearSix
10081000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
40874000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
12097000 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
28777000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3799000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3432000 USD
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5273964 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
22.23
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y9M18D
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
1628022 shares
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
21.82
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
126707 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1600000 USD
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.84
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
55032 shares
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
21.02
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6720247 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
22.48
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M24D
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
10712000 USD
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3593089 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
21.44
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y10M24D
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
10670000 USD
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
6407781 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
22.41
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y4M24D
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
10707000 USD
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
14.65
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
18.75
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3600000 USD
CY2019Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
300000 USD
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
600000 USD
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3100000 USD
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3300000 USD
CY2019Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
42000000.0 USD
CY2019Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y1M6D

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