$MTEM
Molecular Templates, Inc.

2022 Q1 Form 10-K Financial Statement

#000156459022012055 Filed on March 29, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021
Revenue $8.486M $17.96M $38.70M
YoY Change 163.54% 413.26% 105.29%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.620M $7.928M $34.11M
YoY Change -6.85% 11.35% 27.64%
% of Gross Profit
Research & Development $21.50M $19.34M $84.67M
YoY Change 0.6% -13.29% -8.93%
% of Gross Profit
Depreciation & Amortization $1.872M $1.802M $6.600M
YoY Change 24.06% 29.64% 60.98%
% of Gross Profit
Operating Expenses $29.12M $27.27M $118.8M
YoY Change -1.46% -7.29% -0.77%
Operating Profit -$20.63M -$80.07M
YoY Change -21.64% -20.59%
Interest Expense $70.00K -$942.0K -$2.935M
YoY Change 34.62% 154.59% -385.51%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$21.61M -$10.24M -$83.01M
YoY Change -19.3% -64.0% -20.88%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$21.61M -$10.24M -$83.01M
YoY Change -19.3% -64.0% -20.88%
Net Earnings / Revenue -254.67% -57.02% -214.51%
Basic Earnings Per Share $0.38 -$1.50
Diluted Earnings Per Share -$383.8K -$181.9K -$1.501M
COMMON SHARES
Basic Shares Outstanding 56.31M 55.30M
Diluted Shares Outstanding 56.31M 55.30M

Balance Sheet

Concept 2022 Q1 2021 Q4 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $124.5M $143.0M $143.0M
YoY Change -38.45% 52.36% 52.34%
Cash & Equivalents $19.57M $24.98M $24.98M
Short-Term Investments $104.9M $118.1M $118.1M
Other Short-Term Assets $7.866M $1.254M $5.171M
YoY Change 994.02% 11.47% -28.18%
Inventory
Prepaid Expenses $3.917M
Receivables $0.00 $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $132.4M $148.2M $148.2M
YoY Change -36.71% 49.13% 46.31%
LONG-TERM ASSETS
Property, Plant & Equipment $18.63M $19.31M $27.92M
YoY Change -14.16% -13.23% -16.42%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $8.986M $8.986M
YoY Change -100.0%
Other Assets $3.940M $7.244M $6.144M
YoY Change -23.44% 39.44% 53.6%
Total Long-Term Assets $30.78M $44.15M $44.15M
YoY Change -27.73% 9.02% 14.37%
TOTAL ASSETS
Total Short-Term Assets $132.4M $148.2M $148.2M
Total Long-Term Assets $30.78M $44.15M $44.15M
Total Assets $163.2M $192.4M $192.4M
YoY Change -35.19% 37.52% 37.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00 $1.612M $1.612M
YoY Change -100.0% -31.4% -32.83%
Accrued Expenses $7.905M $9.515M $12.12M
YoY Change -19.34% -24.33% -18.1%
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 $45.02M $46.67M $46.67M
YoY Change -41.2% 24.28% 24.12%
LONG-TERM LIABILITIES
Long-Term Debt $35.74M $35.49M $35.49M
YoY Change 137.76% 137.78% 138.19%
Other Long-Term Liabilities $34.92M $1.625M $44.54M
YoY Change 2192.97% 9.06% 58.5%
Total Long-Term Liabilities $70.66M $37.12M $80.03M
YoY Change 326.84% 126.1% 86.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.02M $46.67M $46.67M
Total Long-Term Liabilities $70.66M $37.12M $80.03M
Total Liabilities $115.7M $126.7M $126.7M
YoY Change -19.34% 57.32% 57.39%
SHAREHOLDERS EQUITY
Retained Earnings -$352.1M
YoY Change 30.85%
Common Stock $417.8M
YoY Change 27.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $47.48M $65.66M $65.66M
YoY Change
Total Liabilities & Shareholders Equity $163.2M $192.4M $192.4M
YoY Change -35.19% 37.52% 37.5%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021
OPERATING ACTIVITIES
Net Income -$21.61M -$10.24M -$83.01M
YoY Change -19.3% -64.0% -20.88%
Depreciation, Depletion And Amortization $1.872M $1.802M $6.600M
YoY Change 24.06% 29.64% 60.98%
Cash From Operating Activities -$27.70M -$22.46M -$30.39M
YoY Change -165.61% 4.42% -63.74%
INVESTING ACTIVITIES
Capital Expenditures $553.0K -$883.0K -$3.996M
YoY Change 27.13% -69.34% -45.93%
Acquisitions
YoY Change
Other Investing Activities $21.84M $20.70M -$58.44M
YoY Change -154.66% 28.63% 114.32%
Cash From Investing Activities $21.29M $19.81M -$62.44M
YoY Change -152.7% 49.98% 80.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 38.00K 92.59M
YoY Change -100.0% -65.45% 57.22%
NET CHANGE
Cash From Operating Activities -27.70M -22.46M -30.39M
Cash From Investing Activities 21.29M 19.81M -62.44M
Cash From Financing Activities 0.000 38.00K 92.59M
Net Change In Cash -6.411M -2.610M -235.0K
YoY Change -108.71% -68.13% -99.61%
FREE CASH FLOW
Cash From Operating Activities -$27.70M -$22.46M -$30.39M
Capital Expenditures $553.0K -$883.0K -$3.996M
Free Cash Flow -$28.25M -$21.58M -$26.39M
YoY Change -167.62% 15.82% -65.46%

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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:2.68%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.86%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">The preparation of consolidated financial statements requires management to make estimates and assumptions that affect the recorded amounts reported therein. A change in facts or circumstances surrounding the estimates could result in a change to estimates and impact future operating results. Certain accounts in the prior financial statements have been reclassified for comparative purposes to conform to the presentation in the current financial statements. These reclassifications have no material effect on previously reported financials.</span></p>
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<p style="margin-top:18pt;margin-bottom:0pt;margin-left:2.72%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Accounting Estimates </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.86%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America as defined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. </p>
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14.06
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1000000.0
CY2021 mtem Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options1
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0
CY2021Q4 us-gaap Property Plant And Equipment Gross
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22254000
CY2021 us-gaap Depreciation
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6600000
CY2020 us-gaap Depreciation
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1577000
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1134000
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CY2020 us-gaap Operating Lease Payments
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CY2020 us-gaap Finance Lease Interest Payment On Liability
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CY2021 us-gaap Finance Lease Principal Payments
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1000
CY2020 us-gaap Finance Lease Principal Payments
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18000
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600000
CY2021Q4 us-gaap Contractual Obligation
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21700000
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10.21
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950000
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7854473
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
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10.21
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
950000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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4289745
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CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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2500000
CY2021 us-gaap Proceeds From Stock Options Exercised
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1600000
CY2020 mtem Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options1
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0
CY2021 mtem Income Tax Reconciliation Permanent Differences
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15000
CY2020 mtem Income Tax Reconciliation Permanent Differences
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CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
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CY2020 us-gaap Income Tax Reconciliation Tax Credits Research
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CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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24219000
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 mtem Income Tax Reconciliation Change In State Rate And Carryovers
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-1795000
CY2020 mtem Income Tax Reconciliation Change In State Rate And Carryovers
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CY2021 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Allocated Share Based Compensation Expense
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CY2021 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2021Q4 mtem Deferred Tax Assets Lease Liability
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3045000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
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CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
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1459000

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