$NXTC
NextCure Inc

2021 Q2 Form 10-Q Financial Statement

#000155837021010578 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q4 2020 Q2
Revenue $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.007M $4.130M $4.670M
YoY Change 28.63% 57.63% 72.32%
% of Gross Profit
Research & Development $11.95M $12.11M $11.13M
YoY Change 7.32% 6.23% 45.68%
% of Gross Profit
Depreciation & Amortization $1.887M $990.0K $790.0K
YoY Change 138.86% 30.26% 33.9%
% of Gross Profit
Operating Expenses $17.95M $16.24M $15.80M
YoY Change 13.61% 15.83% 52.52%
Operating Profit -$17.95M -$15.80M
YoY Change 13.61%
Interest Expense -$35.00K $780.0K $1.290M
YoY Change -102.71% -27.78% 76.71%
% of Operating Profit
Other Income/Expense, Net -$35.00K $1.293M
YoY Change -102.71%
Pretax Income -$17.99M -$15.46M -$14.51M
YoY Change 23.96% 41.45% 76.52%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$17.99M -$15.46M -$14.51M
YoY Change 23.98% 41.45% 76.5%
Net Earnings / Revenue
Basic Earnings Per Share -$0.65
Diluted Earnings Per Share -$0.65 -$561.0K -$527.3K
COMMON SHARES
Basic Shares Outstanding 27.61M
Diluted Shares Outstanding 27.61M

Balance Sheet

Concept 2021 Q2 2020 Q4 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $249.5M $283.4M $309.3M
YoY Change -19.33% -15.29% 60.51%
Cash & Equivalents $34.90M $32.77M $29.40M
Short-Term Investments $214.6M $250.7M $284.3M
Other Short-Term Assets $9.112M $4.500M $5.700M
YoY Change 59.86% -16.67% 46.15%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $258.6M $288.0M $315.1M
YoY Change -17.92% -15.3% 60.36%
LONG-TERM ASSETS
Property, Plant & Equipment $14.71M $15.81M $14.80M
YoY Change -0.61% 30.65% 20.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.018M $2.857M $3.600M
YoY Change -43.94% -30.32% -14.29%
Total Long-Term Assets $16.73M $18.67M $18.40M
YoY Change -9.09% 15.22% 10.84%
TOTAL ASSETS
Total Short-Term Assets $258.6M $288.0M $315.1M
Total Long-Term Assets $16.73M $18.67M $18.40M
Total Assets $275.4M $306.6M $333.5M
YoY Change -17.43% -13.91% 56.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.351M $3.901M $2.400M
YoY Change -43.71% 105.32% 20.0%
Accrued Expenses $5.344M $4.627M $4.100M
YoY Change 30.34% -5.57% 86.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.667M $1.667M $1.700M
YoY Change -1.94% -1.94% 112.5%
Total Short-Term Liabilities $8.565M $10.33M $8.400M
YoY Change 1.96% -31.17% -26.96%
LONG-TERM LIABILITIES
Long-Term Debt $972.0K $1.806M $2.600M
YoY Change -62.62% -45.27% -38.1%
Other Long-Term Liabilities $2.224M $800.0K $600.0K
YoY Change 270.67% -95.09% -96.81%
Total Long-Term Liabilities $972.0K $1.806M $3.200M
YoY Change -69.63% -90.79% -86.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.565M $10.33M $8.400M
Total Long-Term Liabilities $972.0K $1.806M $3.200M
Total Liabilities $11.76M $12.92M $11.60M
YoY Change 1.39% -62.76% -66.38%
SHAREHOLDERS EQUITY
Retained Earnings -$152.2M -$117.6M
YoY Change
Common Stock $28.00K $28.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $263.6M $293.7M $321.9M
YoY Change
Total Liabilities & Shareholders Equity $275.4M $306.6M $333.5M
YoY Change -17.43% -13.91% 56.5%

Cashflow Statement

Concept 2021 Q2 2020 Q4 2020 Q2
OPERATING ACTIVITIES
Net Income -$17.99M -$15.46M -$14.51M
YoY Change 23.98% 41.45% 76.5%
Depreciation, Depletion And Amortization $1.887M $990.0K $790.0K
YoY Change 138.86% 30.26% 33.9%
Cash From Operating Activities -$17.22M -$6.270M -$12.41M
YoY Change 38.78% -37.24% 16.97%
INVESTING ACTIVITIES
Capital Expenditures -$209.0K -$980.0K -$2.830M
YoY Change -92.61% 20.99% 150.44%
Acquisitions
YoY Change
Other Investing Activities $15.80M $17.48M $11.38M
YoY Change 38.81% -113.84%
Cash From Investing Activities $15.59M $16.49M $8.550M
YoY Change 82.32% -112.97% -856.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -408.0K -400.0K -410.0K
YoY Change -0.49% -100.25% -100.52%
NET CHANGE
Cash From Operating Activities -17.22M -6.270M -12.41M
Cash From Investing Activities 15.59M 16.49M 8.550M
Cash From Financing Activities -408.0K -400.0K -410.0K
Net Change In Cash -2.043M 9.820M -4.270M
YoY Change -52.15% -59.34% -106.36%
FREE CASH FLOW
Cash From Operating Activities -$17.22M -$6.270M -$12.41M
Capital Expenditures -$209.0K -$980.0K -$2.830M
Free Cash Flow -$17.01M -$5.290M -$9.580M
YoY Change 77.6% -42.37% 1.05%

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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
13922000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
76000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
40000
us-gaap Repayments Of Debt
RepaymentsOfDebt
834000
us-gaap Repayments Of Debt
RepaymentsOfDebt
694000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-758000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-654000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-9735000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36284000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39130000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37581000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29395000
us-gaap Interest Paid Net
InterestPaidNet
67000
us-gaap Interest Paid Net
InterestPaidNet
85000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
809000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of assets and liabilities as of the date of the condensed financial statements, and the reported amounts of revenues and expenses during the reporting periods. Although actual results could differ from those estimates, management does not believe that such differences would be material.</p>
CY2021Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
5000000.0
CY2021Q2 nxtc Required Reserve Restricted Cash Current
RequiredReserveRestrictedCashCurrent
2600000
CY2020Q4 nxtc Required Reserve Restricted Cash Current
RequiredReserveRestrictedCashCurrent
3500000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
34903000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32772000
CY2021Q2 nxtc Restricted Cash Other Assets Non Current
RestrictedCashOtherAssetsNonCurrent
972000
CY2020Q4 nxtc Restricted Cash Other Assets Non Current
RestrictedCashOtherAssetsNonCurrent
1806000
CY2021Q2 nxtc Restricted Cash And Other Assets Current
RestrictedCashAndOtherAssetsCurrent
2678000
CY2020Q4 nxtc Restricted Cash And Other Assets Current
RestrictedCashAndOtherAssetsCurrent
3512000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37581000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36284000
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
214812000
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
169000
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
364000
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
214617000
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
249897000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
854000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
75000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
250676000
us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
56000
us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
68000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
82259000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
82427000
CY2021Q2 nxtc Available For Sale Securities Debt Maturities After One Through Two Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsAmortizedCost
132553000
CY2021Q2 nxtc Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue
132190000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
214812000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
214617000
CY2020Q2 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2020Q2 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2021Q2 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2021Q2 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2787000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2187000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5295000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3195000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.797
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-17987000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-14508000
us-gaap Net Income Loss
NetIncomeLoss
-34520000
us-gaap Net Income Loss
NetIncomeLoss
-4775000
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27610398
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27518129
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27603948
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27512528
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.65
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.53
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.25
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.17
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4554173
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3162258
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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