$NAUT
Nautilus Biotechnology, Inc.

2024 Q3 Form 10-Q Financial Statement

#000180880524000058 Filed on July 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.812M $8.353M
YoY Change -3.79% 17.58%
% of Gross Profit
Research & Development $12.29M $12.44M
YoY Change 2.43% 4.4%
% of Gross Profit
Depreciation & Amortization $500.0K $500.0K
YoY Change 0.0% 25.0%
% of Gross Profit
Operating Expenses $19.10M $20.79M
YoY Change 0.13% 9.32%
Operating Profit
YoY Change
Interest Expense $2.674M $2.798M
YoY Change -16.36% -13.16%
% of Operating Profit
Other Income/Expense, Net $2.654M $2.779M
YoY Change -16.98% -13.37%
Pretax Income -$16.45M -$18.01M
YoY Change 3.56% 13.93%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$16.45M -$18.01M
YoY Change 3.58% 13.93%
Net Earnings / Revenue
Basic Earnings Per Share -$0.13 -$0.14
Diluted Earnings Per Share -$0.13 -$0.14
COMMON SHARES
Basic Shares Outstanding 125.4M shares 125.3M shares
Diluted Shares Outstanding 125.5M shares 125.3M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $140.6M $167.4M
YoY Change -23.29% 2.54%
Cash & Equivalents $4.409M $24.89M
Short-Term Investments $136.2M $142.6M
Other Short-Term Assets $3.596M $3.490M
YoY Change 2.74% 2.41%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $144.2M $170.9M
YoY Change -22.8% 2.54%
LONG-TERM ASSETS
Property, Plant & Equipment $4.324M $4.694M
YoY Change 0.96% 12.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $80.62M $65.47M
YoY Change -12.75% -46.96%
Other Assets $1.180M $1.180M
YoY Change 1.99% -33.3%
Total Long-Term Assets $115.5M $101.8M
YoY Change -12.2% -37.94%
TOTAL ASSETS
Total Short-Term Assets $144.2M $170.9M
Total Long-Term Assets $115.5M $101.8M
Total Assets $259.7M $272.7M
YoY Change -18.42% -17.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.487M $1.627M
YoY Change 30.21% 33.14%
Accrued Expenses $7.175M $7.054M
YoY Change -8.01% 5.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.662M $8.681M
YoY Change -2.61% 10.03%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $27.61M $28.79M
YoY Change -14.26% -13.3%
Total Long-Term Liabilities $27.61M $28.79M
YoY Change -14.26% -13.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.662M $8.681M
Total Long-Term Liabilities $27.61M $28.79M
Total Liabilities $36.27M $37.47M
YoY Change -11.67% -8.82%
SHAREHOLDERS EQUITY
Retained Earnings -$255.4M -$239.0M
YoY Change 37.9% 41.17%
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 $223.4M $235.3M
YoY Change
Total Liabilities & Shareholders Equity $259.7M $272.7M
YoY Change -18.42% -17.54%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$16.45M -$18.01M
YoY Change 3.58% 13.93%
Depreciation, Depletion And Amortization $500.0K $500.0K
YoY Change 0.0% 25.0%
Cash From Operating Activities -$13.11M -$15.46M
YoY Change 11.7% 14.08%
INVESTING ACTIVITIES
Capital Expenditures $58.24M $512.0K
YoY Change 14.78% 10.58%
Acquisitions
YoY Change
Other Investing Activities $50.74M $14.81M
YoY Change -20.5% -926.23%
Cash From Investing Activities -$7.503M $14.29M
YoY Change -157.41% -733.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 140.0K 319.0K
YoY Change 600.0% 225.51%
NET CHANGE
Cash From Operating Activities -13.11M -15.46M
Cash From Investing Activities -7.503M 14.29M
Cash From Financing Activities 140.0K 319.0K
Net Change In Cash -20.48M -844.0K
YoY Change -1616.74% -94.63%
FREE CASH FLOW
Cash From Operating Activities -$13.11M -$15.46M
Capital Expenditures $58.24M $512.0K
Free Cash Flow -$71.35M -$15.97M
YoY Change 14.2% 13.97%

Facts In Submission

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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, loss contingency 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.
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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CommonStockSharesIssued
125406748 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
17545835 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
14676335 shares
CY2024Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
45627002 shares
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
38461033 shares
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
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
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3423900 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.65
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
214252 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.28
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
340148 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.40
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
17545835 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.47
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y9M18D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
6304000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
17545835 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
3.47
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
9482993 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
3.83
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P6Y10M24D
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
5446000 usd
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
19400000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
2300000 usd
CY2024Q2 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
1700000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2931000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
7182000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
6874000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6889000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5816000 usd
CY2024Q2 naut Lessee Operating Lease Liability To Be Paid Due After Year Four
LesseeOperatingLeaseLiabilityToBePaidDueAfterYearFour
13207000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
42899000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
10297000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
32602000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
3500000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
2800000 usd
CY2024Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
1000000.0 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-15808000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-15808000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-36740000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-36740000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-30773000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-30773000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124603181 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124603181 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125226552 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
125226552 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124601762 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124601762 shares
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.29
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.29
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17685696 shares
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17685696 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14777058 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14777058 shares
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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