$NKTX
Nkarta Inc

2023 Q2 Form 10-Q Financial Statement

#000095017023021277 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.636M $8.178M $6.530M
YoY Change 16.35% 25.24% 9.93%
% of Gross Profit
Research & Development $25.12M $26.14M $19.57M
YoY Change 19.35% 33.56% 44.53%
% of Gross Profit
Depreciation & Amortization $800.0K $800.0K $600.0K
YoY Change 33.33% 33.33% 100.0%
% of Gross Profit
Operating Expenses $36.86M $34.31M $26.10M
YoY Change 33.49% 31.48% 33.97%
Operating Profit -$36.86M -$34.31M -$26.10M
YoY Change 33.49% 31.48% 33.97%
Interest Expense $3.570M $3.465M $112.0K
YoY Change 420.41% 2993.75% 1.82%
% of Operating Profit
Other Income/Expense, Net $3.571M $3.498M $111.0K
YoY Change 418.29% 3051.35% 2.78%
Pretax Income -$33.29M -$30.82M -$25.99M
YoY Change 23.64% 18.58% 34.16%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$33.29M -$30.82M -$25.99M
YoY Change 23.64% 18.58% 34.14%
Net Earnings / Revenue
Basic Earnings Per Share -$0.68 -$0.63 -$0.79
Diluted Earnings Per Share -$0.68 -$0.63 -$787.7K
COMMON SHARES
Basic Shares Outstanding 48.93M 48.93M 33.00M
Diluted Shares Outstanding 48.97M 48.92M 32.99M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $280.8M $323.3M $217.0M
YoY Change -32.01% 49.03% -27.51%
Cash & Equivalents $29.12M $53.67M $41.61M
Short-Term Investments $251.6M $269.7M $175.3M
Other Short-Term Assets $2.593M $3.372M $2.280M
YoY Change 24.36% 47.89% 110.14%
Inventory
Prepaid Expenses $3.390M $5.475M $3.981M
Receivables
Other Receivables
Total Short-Term Assets $286.7M $332.2M $223.2M
YoY Change -31.3% 48.82% -26.14%
LONG-TERM ASSETS
Property, Plant & Equipment $76.09M $69.78M $14.05M
YoY Change 349.22% 396.53% -37.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $18.73M $6.016M
YoY Change
Other Assets $3.666M $1.870M $1.461M
YoY Change 206.78% 27.99% 32.82%
Total Long-Term Assets $142.3M $126.0M $83.08M
YoY Change 64.96% 51.64% 253.54%
TOTAL ASSETS
Total Short-Term Assets $286.7M $332.2M $223.2M
Total Long-Term Assets $142.3M $126.0M $83.08M
Total Assets $429.0M $458.2M $306.3M
YoY Change -14.81% 49.58% -5.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.010M $5.411M $2.016M
YoY Change 1.42% 168.4% 0.8%
Accrued Expenses $17.55M $14.82M $6.321M
YoY Change 145.67% 134.42% 21.74%
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 $26.61M $25.98M $10.84M
YoY Change 101.86% 139.63% 15.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $84.45M $85.54M $11.00K
YoY Change 1055487.5% 777554.55% -85.33%
Total Long-Term Liabilities $84.45M $85.54M $11.00K
YoY Change 1055487.5% 777554.55% -85.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.61M $25.98M $10.84M
Total Long-Term Liabilities $84.45M $85.54M $11.00K
Total Liabilities $111.1M $111.5M $77.59M
YoY Change 34.46% 43.73% 293.83%
SHAREHOLDERS EQUITY
Retained Earnings -$382.0M -$348.7M -$230.1M
YoY Change 48.64% 51.54%
Common Stock $700.6M $695.6M $459.4M
YoY Change 3.19% 51.41%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $318.0M $346.6M $228.7M
YoY Change
Total Liabilities & Shareholders Equity $429.0M $458.2M $306.3M
YoY Change -14.81% 49.58% -5.96%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$33.29M -$30.82M -$25.99M
YoY Change 23.64% 18.58% 34.14%
Depreciation, Depletion And Amortization $800.0K $800.0K $600.0K
YoY Change 33.33% 33.33% 100.0%
Cash From Operating Activities -$21.77M -$20.76M -$18.26M
YoY Change 31.05% 13.69% 24.65%
INVESTING ACTIVITIES
Capital Expenditures $10.33M $4.823M $1.770M
YoY Change -492.85% 172.49% 71.35%
Acquisitions
YoY Change
Other Investing Activities $7.157M $41.75M $744.0K
YoY Change -106.71% 5511.83% -103.88%
Cash From Investing Activities -$3.171M $36.93M -$1.026M
YoY Change -97.1% -3699.32% -94.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 395.0K 1.000K 79.00K
YoY Change -99.82% -98.73% -89.56%
NET CHANGE
Cash From Operating Activities -21.77M -20.76M -18.26M
Cash From Investing Activities -3.171M 36.93M -1.026M
Cash From Financing Activities 395.0K 1.000K 79.00K
Net Change In Cash -24.55M 16.17M -19.21M
YoY Change -127.27% -184.21% -43.65%
FREE CASH FLOW
Cash From Operating Activities -$21.77M -$20.76M -$18.26M
Capital Expenditures $10.33M $4.823M $1.770M
Free Cash Flow -$32.10M -$25.58M -$20.03M
YoY Change 129.54% 27.73% 27.73%

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CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company’s financial statements and accompanying notes. On an ongoing basis, management evaluates its estimates, including those related to preclinical studies, fair value of assets and liabilities, leases, share-based compensation and income taxes. Management bases its estimates on historical experience, knowledge of current events and actions it may undertake in the future that management believes to be reasonable under the circumstances. Actual results may differ from these estimates and assumptions.</span></p>
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-30815000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-25987000
CY2023Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
48921535
CY2022Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
33000238
CY2023Q1 nktx Weighted Average Number Of Shares Unvested Common Stock Issued Upon Early Exercise Of Common Stock Options
WeightedAverageNumberOfSharesUnvestedCommonStockIssuedUponEarlyExerciseOfCommonStockOptions
-209
CY2022Q1 nktx Weighted Average Number Of Shares Unvested Common Stock Issued Upon Early Exercise Of Common Stock Options
WeightedAverageNumberOfSharesUnvestedCommonStockIssuedUponEarlyExerciseOfCommonStockOptions
-7656
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48921326
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48921326
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32992582
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32992582
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.63
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.63
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.79
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.79
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7620139
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5305042
CY2023Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
52666000
CY2023Q1 us-gaap Short Term Investments
ShortTermInvestments
269675000
CY2023Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
328357000
CY2022Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
36494000
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
314649000
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
351143000
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
275865000
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
336000
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
162000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
275691000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
315328000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
762000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
83000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
314649000
CY2022Q1 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
5475000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
5616000
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
3372000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
2929000
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8847000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8545000
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
76398000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
67732000
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6621000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5824000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
69777000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
61908000
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
800000
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
600000
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3768000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6691000
CY2023Q1 nktx Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
4856000
CY2022Q4 nktx Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
3486000
CY2023Q1 nktx Accrued Property And Equipment Liabilities Current
AccruedPropertyAndEquipmentLiabilitiesCurrent
5142000
CY2022Q4 nktx Accrued Property And Equipment Liabilities Current
AccruedPropertyAndEquipmentLiabilitiesCurrent
5001000
CY2023Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
1052000
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
858000
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
14818000
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
16036000
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
2700000
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
2600000
CY2023Q1 us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
5800000
CY2022Q1 us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
300000
CY2023Q1 us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
7800000
CY2022Q1 us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
900000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2000000.0
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
600000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y6M
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.097
CY2021Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P12Y
CY2021Q3 nktx Cash Received For Tenant Improvement Allowances To Be Repaid
CashReceivedForTenantImprovementAllowancesToBeRepaid
4400000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
9404000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
12823000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
13033000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13467000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
13917000
CY2023Q1 nktx Lessee Operating Lease Liability Payments Due Year Five And Thereafter
LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndThereafter
87290000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
149934000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
58640000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
91294000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5752000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
85542000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
91294000
CY2023Q1 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
CY2022Q4 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
CY2023Q1 nktx Contingency Loss Recorded
ContingencyLossRecorded
0
CY2023Q1 nktx Provision For Loss Contingency
ProvisionForLossContingency
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.22
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4746000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4097000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
35200000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y9M18D
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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