$MGTX
MeiraGTx Holdings plc

2020 Q4 Form 10-Q Financial Statement

#000155837020012733 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $3.790M $5.092M $3.583M
YoY Change -45.39% 42.13%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $12.01M $8.900M $9.870M
YoY Change -19.23% -9.83% 48.87%
% of Gross Profit
Research & Development $5.000M $4.626M $4.614M
YoY Change 24.38% 0.25% -43.1%
% of Gross Profit
Depreciation & Amortization $1.350M $1.060M $530.0K
YoY Change 101.49% 100.0% 0.0%
% of Gross Profit
Operating Expenses $17.01M $13.52M $14.49M
YoY Change 37.29% -6.68% -1.69%
Operating Profit -$8.430M -$10.91M
YoY Change -22.71% -26.0%
Interest Expense $2.790M $35.00K $9.283K
YoY Change 615.38% 277.03% -2.37%
% of Operating Profit
Other Income/Expense, Net -$40.00K -$30.00K $0.00
YoY Change
Pretax Income -$10.46M -$6.432M -$10.80M
YoY Change 107.13% -40.44% -29.99%
Income Tax $0.00 -$338.7K
% Of Pretax Income
Net Earnings -$10.46M -$6.432M -$10.46M
YoY Change 90.88% -38.51% -32.18%
Net Earnings / Revenue -275.99% -126.32% -291.99%
Basic Earnings Per Share -$0.17
Diluted Earnings Per Share -$261.0K -$0.17 -$301.8K
COMMON SHARES
Basic Shares Outstanding 38.41M 37.22M 33.37M
Diluted Shares Outstanding 37.22M

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $209.5M $179.1M $253.3M
YoY Change -7.79% -29.29% 185.89%
Cash & Equivalents $209.5M $179.1M $253.3M
Short-Term Investments
Other Short-Term Assets $4.565M $818.7K $11.51M
YoY Change 131.66% -92.89% 1505.77%
Inventory
Prepaid Expenses $7.082M $4.002M $6.249M
Receivables $38.50M $26.60M
Other Receivables $12.90M $7.100M
Total Short-Term Assets $272.6M $217.9M $271.1M
YoY Change 1.34% -19.63% 196.9%
LONG-TERM ASSETS
Property, Plant & Equipment $44.04M $34.82M $16.90M
YoY Change 84.6% 106.05% 24.03%
Goodwill
YoY Change
Intangibles $2.119M
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.026M $203.3K $1.000M
YoY Change 426.01% -79.67% 233.33%
Total Long-Term Assets $91.12M $75.16M $46.66M
YoY Change 65.95% 61.08% 235.0%
TOTAL ASSETS
Total Short-Term Assets $272.6M $217.9M $271.1M
Total Long-Term Assets $91.12M $75.16M $46.66M
Total Assets $363.7M $293.0M $317.8M
YoY Change 12.29% -7.78% 201.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.134M $5.196M $3.798M
YoY Change 89.77% 36.79% 57.24%
Accrued Expenses $20.86M $15.56M $9.347M
YoY Change 15.36% 66.51% 54.69%
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 $54.15M $46.61M $39.29M
YoY Change 10.06% 18.63% 362.93%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $70.80M $67.10M $83.60M
YoY Change -15.41% -19.74% 45956.8%
Total Long-Term Liabilities $70.80M $67.10M $83.60M
YoY Change -15.41% -19.74% 45956.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $54.15M $46.61M $39.29M
Total Long-Term Liabilities $70.80M $67.10M $83.60M
Total Liabilities $125.1M $114.0M $122.9M
YoY Change -5.97% -7.24% 1281.7%
SHAREHOLDERS EQUITY
Retained Earnings -$261.0M -$250.6M -$197.6M
YoY Change 28.56% 26.83% 55.27%
Common Stock $2.000K $1.491K $1.420K
YoY Change 39.96% 5.0% 34.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $238.6M $179.1M $194.9M
YoY Change
Total Liabilities & Shareholders Equity $363.7M $293.0M $317.8M
YoY Change 12.29% -7.78% 201.94%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$10.46M -$6.432M -$10.46M
YoY Change 90.88% -38.51% -32.18%
Depreciation, Depletion And Amortization $1.350M $1.060M $530.0K
YoY Change 101.49% 100.0% 0.0%
Cash From Operating Activities -$29.56M -$9.150M -$18.40M
YoY Change 34.49% -50.27% 67.42%
INVESTING ACTIVITIES
Capital Expenditures -$10.14M -$5.960M -$2.020M
YoY Change 113.47% 195.05% 92.38%
Acquisitions
YoY Change
Other Investing Activities -$90.00K -$13.88M
YoY Change -76.92%
Cash From Investing Activities -$10.23M -$19.84M -$2.020M
YoY Change 99.03% 882.18% 92.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 69.44M 13.13M 70.21M
YoY Change 14995.65% -81.3% -5044.37%
NET CHANGE
Cash From Operating Activities -29.56M -9.150M -18.40M
Cash From Investing Activities -10.23M -19.84M -2.020M
Cash From Financing Activities 69.44M 13.13M 70.21M
Net Change In Cash 29.65M -15.86M 49.79M
YoY Change -211.22% -131.85% -469.91%
FREE CASH FLOW
Cash From Operating Activities -$29.56M -$9.150M -$18.40M
Capital Expenditures -$10.14M -$5.960M -$2.020M
Free Cash Flow -$19.42M -$3.190M -$16.38M
YoY Change 12.71% -80.53% 64.79%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 24.45pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 24.45pt;">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 condensed consolidated 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 if these results differ from historical experience, or other assumptions do not turn out to be substantially accurate, even if such assumptions are reasonable when made. In preparing these condensed consolidated financial statements, management used significant estimates in the following areas, among others: collaboration revenue, the accounting for research and development costs, share-based compensation, leases, asset retirement obligations and tax incentive receivable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 24.45pt;">Additionally, the Company has made estimates of the impact of the COVID-19 pandemic within the condensed consolidated financial statements and there may be changes to those estimates in future periods. Actual results may differ from these estimates.</p>
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