$NXTC
NextCure Inc

2022 Q1 Form 10-Q Financial Statement

#000155837022007439 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.747M $4.850M
YoY Change 18.49% 35.1%
% of Gross Profit
Research & Development $15.02M $12.39M
YoY Change 21.3% 17.07%
% of Gross Profit
Depreciation & Amortization $2.097M $1.110M
YoY Change 88.92% 48.0%
% of Gross Profit
Operating Expenses $20.77M $17.23M
YoY Change 20.52% 21.62%
Operating Profit -$20.77M -$17.23M
YoY Change 20.52%
Interest Expense $169.0K $700.0K
YoY Change -75.86% -53.95%
% of Operating Profit
Other Income/Expense, Net $169.0K $701.0K
YoY Change -75.89%
Pretax Income -$20.60M -$16.53M
YoY Change 24.63% -269.89%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$20.60M -$16.53M
YoY Change 24.61% -269.87%
Net Earnings / Revenue
Basic Earnings Per Share -$0.74 -$0.60
Diluted Earnings Per Share -$0.74 -$0.60
COMMON SHARES
Basic Shares Outstanding 27.71M 27.60M
Diluted Shares Outstanding 27.71M 27.60M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $201.3M $268.2M
YoY Change -24.94% -16.73%
Cash & Equivalents $10.65M $39.62M
Short-Term Investments $190.7M $231.7M
Other Short-Term Assets $7.609M $4.800M
YoY Change 58.52% 4.35%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $208.9M $273.1M
YoY Change -23.5% -16.41%
LONG-TERM ASSETS
Property, Plant & Equipment $13.24M $15.50M
YoY Change -14.59% 21.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $574.0K $2.400M
YoY Change -76.08% -40.0%
Total Long-Term Assets $13.81M $17.90M
YoY Change -22.83% 6.55%
TOTAL ASSETS
Total Short-Term Assets $208.9M $273.1M
Total Long-Term Assets $13.81M $17.90M
Total Assets $222.7M $291.0M
YoY Change -23.45% -15.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.801M $2.000M
YoY Change 40.05% -13.04%
Accrued Expenses $3.411M $4.300M
YoY Change -20.67% 4.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.700M
YoY Change 0.0%
Total Short-Term Liabilities $6.424M $8.200M
YoY Change -21.66% 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $1.400M
YoY Change -100.0% -54.84%
Other Long-Term Liabilities $2.386M $2.200M
YoY Change 8.45% 340.0%
Total Long-Term Liabilities $2.386M $3.600M
YoY Change -33.72% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.424M $8.200M
Total Long-Term Liabilities $2.386M $3.600M
Total Liabilities $8.810M $11.80M
YoY Change -25.34% 0.85%
SHAREHOLDERS EQUITY
Retained Earnings -$207.6M
YoY Change
Common Stock $28.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $213.9M $279.2M
YoY Change
Total Liabilities & Shareholders Equity $222.7M $291.0M
YoY Change -23.45% -15.28%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$20.60M -$16.53M
YoY Change 24.61% -269.87%
Depreciation, Depletion And Amortization $2.097M $1.110M
YoY Change 88.92% 48.0%
Cash From Operating Activities -$15.45M -$13.91M
YoY Change 11.04% 31.36%
INVESTING ACTIVITIES
Capital Expenditures $305.0K $766.0K
YoY Change -60.18% -152.83%
Acquisitions
YoY Change
Other Investing Activities $14.01M $18.37M
YoY Change -23.75% 169.35%
Cash From Investing Activities $13.70M $17.60M
YoY Change -22.15% 227.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 60.00K -354.0K
YoY Change -116.95% 47.5%
NET CHANGE
Cash From Operating Activities -15.45M -13.91M
Cash From Investing Activities 13.70M 17.60M
Cash From Financing Activities 60.00K -354.0K
Net Change In Cash -1.685M 3.335M
YoY Change -150.52% -161.08%
FREE CASH FLOW
Cash From Operating Activities -$15.45M -$13.91M
Capital Expenditures $305.0K $766.0K
Free Cash Flow -$15.75M -$14.68M
YoY Change 7.32% 60.58%

Facts In Submission

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<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>
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CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12337000
CY2022Q1 nxtc Restricted Cash And Other Assets Current
RestrictedCashAndOtherAssetsCurrent
39000
CY2021Q4 nxtc Restricted Cash And Other Assets Current
RestrictedCashAndOtherAssetsCurrent
39000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10691000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12376000
CY2022Q1 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
192871000
CY2022Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
184200000
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
138270000
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
137228000
CY2022Q1 nxtc Available For Sale Securities Debt Maturities After One Through Two Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsAmortizedCost
54601000
CY2022Q1 nxtc Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue
53444000
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
192871000
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
190672000
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2628000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2508000
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.797
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.797
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-20602000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-16533000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27708768
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27597426
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.74
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.60
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5638992
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4340135
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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