$NAUT
Nautilus Biotechnology, Inc.

2024 Q2 Form 10-Q Financial Statement

#000180880524000041 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.353M $8.677M
YoY Change 17.58% 20.8%
% of Gross Profit
Research & Development $12.44M $12.93M
YoY Change 4.4% 18.87%
% of Gross Profit
Depreciation & Amortization $500.0K $516.0K
YoY Change 25.0% 29.0%
% of Gross Profit
Operating Expenses $20.79M $21.61M
YoY Change 9.32% 19.64%
Operating Profit
YoY Change
Interest Expense $2.798M $2.877M
YoY Change -13.16% -7.13%
% of Operating Profit
Other Income/Expense, Net $2.779M $0.00
YoY Change -13.37% -100.0%
Pretax Income -$18.01M -$18.73M
YoY Change 13.93% 25.16%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$18.01M -$18.73M
YoY Change 13.93% 25.16%
Net Earnings / Revenue
Basic Earnings Per Share -$0.14 -$0.15
Diluted Earnings Per Share -$0.14 -$0.15
COMMON SHARES
Basic Shares Outstanding 125.3M shares 125.1M shares
Diluted Shares Outstanding 125.3M shares 125.1M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $167.4M $181.4M
YoY Change 2.54% 8.38%
Cash & Equivalents $24.89M $25.73M
Short-Term Investments $142.6M $155.6M
Other Short-Term Assets $3.490M $3.728M
YoY Change 2.41% 18.88%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $170.9M $185.1M
YoY Change 2.54% 8.57%
LONG-TERM ASSETS
Property, Plant & Equipment $4.694M $36.08M
YoY Change 12.35% 813.98%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $65.47M $66.29M
YoY Change -46.96% -50.76%
Other Assets $1.180M $1.180M
YoY Change -33.3% 6.5%
Total Long-Term Assets $101.8M $103.6M
YoY Change -37.94% -40.96%
TOTAL ASSETS
Total Short-Term Assets $170.9M $185.1M
Total Long-Term Assets $101.8M $103.6M
Total Assets $272.7M $288.7M
YoY Change -17.54% -16.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.627M $1.860M
YoY Change 33.14% 46.92%
Accrued Expenses $7.054M $7.352M
YoY Change 5.79% 10.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.681M $9.212M
YoY Change 10.03% 16.18%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $28.79M $29.95M
YoY Change -13.3% -12.54%
Total Long-Term Liabilities $28.79M $29.95M
YoY Change -13.3% -12.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.681M $9.212M
Total Long-Term Liabilities $28.79M $29.95M
Total Liabilities $37.47M $39.16M
YoY Change -8.82% -7.14%
SHAREHOLDERS EQUITY
Retained Earnings -$239.0M -$221.0M
YoY Change 41.17% 43.97%
Common Stock $13.00K $13.00K
YoY Change 8.33% 8.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $235.3M $249.5M
YoY Change
Total Liabilities & Shareholders Equity $272.7M $288.7M
YoY Change -17.54% -16.55%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$18.01M -$18.73M
YoY Change 13.93% 25.16%
Depreciation, Depletion And Amortization $500.0K $516.0K
YoY Change 25.0% 29.0%
Cash From Operating Activities -$15.46M -$16.27M
YoY Change 14.08% 29.88%
INVESTING ACTIVITIES
Capital Expenditures $512.0K $647.0K
YoY Change 10.58% -6.5%
Acquisitions
YoY Change
Other Investing Activities $14.81M $23.00M
YoY Change -926.23% -279.65%
Cash From Investing Activities $14.29M $22.35M
YoY Change -733.88% -265.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 319.0K 245.0K
YoY Change 225.51% 24400.0%
NET CHANGE
Cash From Operating Activities -15.46M -16.27M
Cash From Investing Activities 14.29M 22.35M
Cash From Financing Activities 319.0K 245.0K
Net Change In Cash -844.0K 6.332M
YoY Change -94.63% -124.34%
FREE CASH FLOW
Cash From Operating Activities -$15.46M -$16.27M
Capital Expenditures $512.0K $647.0K
Free Cash Flow -$15.97M -$16.91M
YoY Change 13.97% 27.97%

Facts In Submission

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CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the condensed consolidated financial statements, and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include determining the estimated lives of property and equipment, stock-based compensation, research and development accruals, and the valuation allowance for deferred tax assets. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions.
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Credit risk represents the accounting loss that would be recognized as of the reporting date if counterparties failed to perform as contracted. </span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments, which potentially subject the Company to concentration of credit risk, consist of cash balances maintained in excess of federal depository insurance limits and investments in marketable debt securities that are not federally insured. The Company has not experienced any losses in such accounts and believes it is not exposed to significant credit risk on cash or investments. The Company relies, and expects to continue to rely, on a number of vendors to provide services, supplies and materials related to its research and development programs. The Company relies on single source suppliers for certain components and materials used in the Nautilus platform. The loss of any of these single source suppliers would require the Company to expend significant time and effort to locate and qualify an alternative source of supply for these components. The Company also relies, and expects to continue to rely, on third-party manufacturers and, in many cases, single third-party manufacturers for the production of certain reagents and antibodies. These programs could be adversely affected by a significant interruption in these services or the availability of materials.</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to risks similar to those of</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> pre-clinical stage companies in the biopharmaceutical industry, including dependence on key individuals, the need to develop commercially viable products, competition from other companies, many of whom are larger and better capitalized, the impact of negative global and national </span></div><div style="margin-bottom:9pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">events and the need to obtain adequate additional financing to fund the development of its products. There can be no assurance that the Company’s research and development will be successfully completed, that adequate protection for the Company’s intellectual property will be maintained, that any products developed will obtain required regulatory approval or that any approved products will be commercially viable. Even if the Company’s development efforts are successful, it is uncertain when, if ever, the Company will generate significant revenue from the sale of its products.</span></div>
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RestrictedCashAndCashEquivalents
1002000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26731000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20399000 usd
CY2024Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1000000 usd
CY2024Q1 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
200000 usd
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1000000 usd
CY2023Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
200000 usd
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
125265015 shares
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
125265015 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
16304969 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
14676335 shares
CY2024Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
45768735 shares
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
38461033 shares
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
14676335 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.63
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2003800 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.72
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
196414 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.24
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
178752 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.13
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
16304969 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.55
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y10M24D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
11061000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
16304969 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
3.55
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
8592134 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
3.85
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y1M6D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
7785000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
20000000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
CY2024Q1 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
2400000 usd
CY2024Q1 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
1800000 usd
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16438947 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13663979 shares
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4674000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
7182000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
6874000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6889000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5816000 usd
CY2024Q1 naut Lessee Operating Lease Liability To Be Paid Due After Year Four
LesseeOperatingLeaseLiabilityToBePaidDueAfterYearFour
13207000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
44642000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11021000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
33621000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1700000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1200000 usd
CY2024Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
1000000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-18730000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-18730000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14965000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-14965000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125135451 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
125135451 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124590351 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124590351 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.15
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.15
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001808805-24-000041-index.html Edgar Link pending
0001808805-24-000041.txt Edgar Link pending
0001808805-24-000041-xbrl.zip Edgar Link pending
exhibit311-q124.htm Edgar Link pending
exhibit312-q124.htm Edgar Link pending
exhibit321-q124.htm Edgar Link pending
exhibit322-q124.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
naut-20240331.htm Edgar Link pending
naut-20240331.xsd Edgar Link pending
R1.htm Edgar Link pending
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naut-20240331_lab.xml Edgar Link unprocessable
naut-20240331_pre.xml Edgar Link unprocessable
naut-20240331_htm.xml Edgar Link completed
R37.htm Edgar Link pending
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Show.js Edgar Link pending
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naut-20240331_cal.xml Edgar Link unprocessable
naut-20240331_def.xml Edgar Link unprocessable