2024 Q4 Form 10-Q Financial Statement

#000180880524000072 Filed on October 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.812M
YoY Change -3.79%
% of Gross Profit
Research & Development $12.29M
YoY Change 2.43%
% of Gross Profit
Depreciation & Amortization $500.0K
YoY Change 0.0%
% of Gross Profit
Operating Expenses $19.10M
YoY Change 0.13%
Operating Profit
YoY Change
Interest Expense $2.674M
YoY Change -16.36%
% of Operating Profit
Other Income/Expense, Net $2.654M
YoY Change -16.98%
Pretax Income -$16.45M
YoY Change 3.56%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$16.45M
YoY Change 3.58%
Net Earnings / Revenue
Basic Earnings Per Share -$0.13
Diluted Earnings Per Share -$0.13
COMMON SHARES
Basic Shares Outstanding 125.6M shares 125.4M shares
Diluted Shares Outstanding 125.5M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $140.6M
YoY Change -23.29%
Cash & Equivalents $4.409M
Short-Term Investments $136.2M
Other Short-Term Assets $3.596M
YoY Change 2.74%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $144.2M
YoY Change -22.8%
LONG-TERM ASSETS
Property, Plant & Equipment $4.324M
YoY Change 0.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $80.62M
YoY Change -12.75%
Other Assets $1.180M
YoY Change 1.99%
Total Long-Term Assets $115.5M
YoY Change -12.2%
TOTAL ASSETS
Total Short-Term Assets $144.2M
Total Long-Term Assets $115.5M
Total Assets $259.7M
YoY Change -18.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.487M
YoY Change 30.21%
Accrued Expenses $7.175M
YoY Change -8.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.662M
YoY Change -2.61%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $27.61M
YoY Change -14.26%
Total Long-Term Liabilities $27.61M
YoY Change -14.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.662M
Total Long-Term Liabilities $27.61M
Total Liabilities $36.27M
YoY Change -11.67%
SHAREHOLDERS EQUITY
Retained Earnings -$255.4M
YoY Change 37.9%
Common Stock $13.00K
YoY Change 8.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $223.4M
YoY Change
Total Liabilities & Shareholders Equity $259.7M
YoY Change -18.42%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$16.45M
YoY Change 3.58%
Depreciation, Depletion And Amortization $500.0K
YoY Change 0.0%
Cash From Operating Activities -$13.11M
YoY Change 11.7%
INVESTING ACTIVITIES
Capital Expenditures $58.24M
YoY Change 14.78%
Acquisitions
YoY Change
Other Investing Activities $50.74M
YoY Change -20.5%
Cash From Investing Activities -$7.503M
YoY Change -157.41%
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
YoY Change 600.0%
NET CHANGE
Cash From Operating Activities -13.11M
Cash From Investing Activities -7.503M
Cash From Financing Activities 140.0K
Net Change In Cash -20.48M
YoY Change -1616.74%
FREE CASH FLOW
Cash From Operating Activities -$13.11M
Capital Expenditures $58.24M
Free Cash Flow -$71.35M
YoY Change 14.2%

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<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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NAUTILUS BIOTECHNOLOGY, INC.
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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.
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Files In Submission

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