$NXTC
NextCure Inc

2021 Q4 Form 10-Q Financial Statement

#000155837021014632 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.807M $4.911M $4.660M
YoY Change 16.39% 5.39% 77.86%
% of Gross Profit
Research & Development $12.26M $13.60M $12.74M
YoY Change 1.27% 6.73% 47.11%
% of Gross Profit
Depreciation & Amortization $2.103M $2.096M $880.0K
YoY Change 112.42% 138.18% 12.82%
% of Gross Profit
Operating Expenses $17.07M $18.51M $17.40M
YoY Change 5.12% 6.37% 54.11%
Operating Profit -$18.51M -$17.40M
YoY Change 6.37%
Interest Expense $132.0K $578.0K $1.030M
YoY Change -83.08% -43.88% -18.9%
% of Operating Profit
Other Income/Expense, Net $578.0K $1.032M
YoY Change -43.99%
Pretax Income -$16.94M -$17.93M -$16.37M
YoY Change 9.57% 9.53% 94.19%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$16.94M -$17.93M -$16.37M
YoY Change 9.57% 9.55% 94.15%
Net Earnings / Revenue
Basic Earnings Per Share -$0.65 -$0.59
Diluted Earnings Per Share -$607.3K -$0.65 -$0.59
COMMON SHARES
Basic Shares Outstanding 27.63M 27.62M 27.55M
Diluted Shares Outstanding 27.62M 27.55M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $219.6M $235.3M $291.2M
YoY Change -22.53% -19.18% 58.17%
Cash & Equivalents $12.34M $36.66M $26.46M
Short-Term Investments $207.3M $198.7M $268.7M
Other Short-Term Assets $8.226M $7.700M $5.800M
YoY Change 82.8% 32.76% 13.73%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $227.8M $243.0M $297.0M
YoY Change -20.89% -18.17% 57.06%
LONG-TERM ASSETS
Property, Plant & Equipment $13.99M $14.21M $15.80M
YoY Change -11.49% -10.08% 31.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $577.0K $581.0K $3.300M
YoY Change -79.8% -82.39% -15.38%
Total Long-Term Assets $14.57M $14.79M $19.10M
YoY Change -21.95% -22.57% 19.38%
TOTAL ASSETS
Total Short-Term Assets $227.8M $243.0M $297.0M
Total Long-Term Assets $14.57M $14.79M $19.10M
Total Assets $242.4M $257.8M $316.1M
YoY Change -20.96% -18.44% 54.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.942M $2.946M $200.0K
YoY Change -50.22% 1373.0% -92.31%
Accrued Expenses $4.449M $4.232M $3.800M
YoY Change -3.85% 11.37% 46.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $1.700M
YoY Change -100.0% -100.0% 30.77%
Total Short-Term Liabilities $6.608M $7.376M $5.700M
YoY Change -36.0% 29.4% -54.76%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $2.200M
YoY Change -100.0% -100.0% -42.11%
Other Long-Term Liabilities $2.392M $2.223M $800.0K
YoY Change 199.0% 177.88% -95.58%
Total Long-Term Liabilities $2.392M $2.223M $3.000M
YoY Change 32.45% -25.9% -86.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.608M $7.376M $5.700M
Total Long-Term Liabilities $2.392M $2.223M $3.000M
Total Liabilities $9.000M $9.599M $8.700M
YoY Change -30.36% 10.33% -74.78%
SHAREHOLDERS EQUITY
Retained Earnings -$187.0M -$170.1M
YoY Change 58.99%
Common Stock $28.00K $28.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $233.4M $248.2M $307.3M
YoY Change
Total Liabilities & Shareholders Equity $242.4M $257.8M $316.1M
YoY Change -20.96% -18.44% 54.12%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$16.94M -$17.93M -$16.37M
YoY Change 9.57% 9.55% 94.15%
Depreciation, Depletion And Amortization $2.103M $2.096M $880.0K
YoY Change 112.42% 138.18% 12.82%
Cash From Operating Activities -$13.45M -$12.66M -$15.68M
YoY Change 114.5% -19.25% 97.48%
INVESTING ACTIVITIES
Capital Expenditures -$825.0K -$556.0K -$1.870M
YoY Change -15.82% -70.27% 281.63%
Acquisitions
YoY Change
Other Investing Activities -$10.18M $14.97M $14.98M
YoY Change -158.22% -0.07% -108.6%
Cash From Investing Activities -$11.00M $14.41M $13.11M
YoY Change -166.71% 9.95% -107.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 123.0K -2.630M -370.0K
YoY Change -130.75% 610.81% 236.36%
NET CHANGE
Cash From Operating Activities -13.45M -12.66M -15.68M
Cash From Investing Activities -11.00M 14.41M 13.11M
Cash From Financing Activities 123.0K -2.630M -370.0K
Net Change In Cash -24.33M -878.0K -2.940M
YoY Change -347.73% -70.14% -98.39%
FREE CASH FLOW
Cash From Operating Activities -$13.45M -$12.66M -$15.68M
Capital Expenditures -$825.0K -$556.0K -$1.870M
Free Cash Flow -$12.62M -$12.11M -$13.81M
YoY Change 138.64% -12.34% 85.37%

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CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-14508000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
321917000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2372000
CY2020Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
54000
CY2020Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0
CY2020Q3 nxtc Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax Adjusted
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTaxAdjusted
-637000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-16367000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
307339000
us-gaap Profit Loss
ProfitLoss
-52450000
us-gaap Profit Loss
ProfitLoss
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5093000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2423000
us-gaap Share Based Compensation
ShareBasedCompensation
7778000
us-gaap Share Based Compensation
ShareBasedCompensation
5567000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4365000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
690000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-955000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-395000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1117000
nxtc Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
1499000
nxtc Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
336000
nxtc Increase Decrease In Deferred Revenue From Related Party
IncreaseDecreaseInDeferredRevenueFromRelatedParty
-22378000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-43795000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-38676000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
129169000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
121900000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
95992000
CY2020Q4 nxtc Restricted Cash Other Assets Non Current
RestrictedCashOtherAssetsNonCurrent
1806000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1535000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6152000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
47602000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
27025000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
85000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
94000
us-gaap Repayments Of Debt
RepaymentsOfDebt
3473000
us-gaap Repayments Of Debt
RepaymentsOfDebt
1111000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3388000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
419000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-12668000
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
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36703000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26462000
us-gaap Interest Paid Net
InterestPaidNet
139000
us-gaap Interest Paid Net
InterestPaidNet
130000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
134000
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;text-indent:0pt;margin:0pt 0pt 10pt 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>
CY2021Q3 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-2400000
CY2021Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
5000000.0
CY2021Q3 nxtc Restricted Cash Other Assets Non Current
RestrictedCashOtherAssetsNonCurrent
0
CY2021Q3 nxtc Required Reserve Restricted Cash Current
RequiredReserveRestrictedCashCurrent
0
CY2020Q4 nxtc Required Reserve Restricted Cash Current
RequiredReserveRestrictedCashCurrent
3500000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
36664000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32772000
CY2021Q3 nxtc Restricted Cash Other Assets Non Current
RestrictedCashOtherAssetsNonCurrent
0
CY2021Q3 nxtc Restricted Cash And Other Assets Current
RestrictedCashAndOtherAssetsCurrent
39000
CY2020Q4 nxtc Restricted Cash And Other Assets Current
RestrictedCashAndOtherAssetsCurrent
3512000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36703000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36284000
CY2021Q3 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
198801000
CY2021Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
43000
CY2021Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
172000
CY2021Q3 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
198672000
CY2020Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
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 Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
250676000
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
57000
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
70000
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
96103000
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
96114000
CY2021Q3 nxtc Available For Sale Securities Debt Maturities After One Through Two Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsAmortizedCost
102698000
CY2021Q3 nxtc Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue
102558000
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
198801000
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
198672000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2020Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2021Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2483000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2372000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7778000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5567000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.797
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-17930000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-16367000
us-gaap Net Income Loss
NetIncomeLoss
-52450000
us-gaap Net Income Loss
NetIncomeLoss
-21142000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27615038
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27547737
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27607685
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27524350
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.65
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.59
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.90
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.77
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4544382
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3149641
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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