$NXTC
NextCure Inc

2022 Q4 Form 10-Q Financial Statement

#000155837022016275 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.949M $5.711M
YoY Change 2.95% 16.29%
% of Gross Profit
Research & Development $12.82M $13.53M
YoY Change 4.55% -0.51%
% of Gross Profit
Depreciation & Amortization $1.007M $1.021M
YoY Change -52.12% -51.29%
% of Gross Profit
Operating Expenses $17.77M $19.24M
YoY Change 4.1% 3.95%
Operating Profit -$19.24M
YoY Change 3.95%
Interest Expense $471.0K $328.0K
YoY Change 256.82% -43.25%
% of Operating Profit
Other Income/Expense, Net $328.0K
YoY Change -43.25%
Pretax Income -$17.30M -$18.91M
YoY Change 2.13% 5.47%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$17.30M -$18.91M
YoY Change 2.13% 5.47%
Net Earnings / Revenue
Basic Earnings Per Share -$0.68
Diluted Earnings Per Share -$0.62 -$0.68
COMMON SHARES
Basic Shares Outstanding 27.77M 27.75M
Diluted Shares Outstanding 27.75M

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $159.9M $169.2M
YoY Change -27.18% -28.1%
Cash & Equivalents $26.63M $31.05M
Short-Term Investments $133.3M $138.2M
Other Short-Term Assets $4.072M $6.101M
YoY Change -50.5% -20.77%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $164.0M $175.3M
YoY Change -28.02% -27.86%
LONG-TERM ASSETS
Property, Plant & Equipment $11.90M $12.13M
YoY Change -14.97% -14.66%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.265M $2.469M
YoY Change 465.86% 324.96%
Total Long-Term Assets $20.18M $14.59M
YoY Change 38.5% -1.32%
TOTAL ASSETS
Total Short-Term Assets $164.0M $175.3M
Total Long-Term Assets $20.18M $14.59M
Total Assets $184.2M $189.9M
YoY Change -24.02% -26.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.270M $1.846M
YoY Change 119.88% -37.34%
Accrued Expenses $4.857M $3.943M
YoY Change 9.17% -6.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $9.127M $5.891M
YoY Change 38.12% -20.13%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $899.0K $2.477M
YoY Change -62.42% 11.43%
Total Long-Term Liabilities $899.0K $2.477M
YoY Change -62.42% 11.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.127M $5.891M
Total Long-Term Liabilities $899.0K $2.477M
Total Liabilities $16.63M $8.368M
YoY Change 84.79% -12.82%
SHAREHOLDERS EQUITY
Retained Earnings -$261.8M -$244.5M
YoY Change 39.96% 43.73%
Common Stock $28.00K $28.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $167.5M $181.5M
YoY Change
Total Liabilities & Shareholders Equity $184.2M $189.9M
YoY Change -24.02% -26.34%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$17.30M -$18.91M
YoY Change 2.13% 5.47%
Depreciation, Depletion And Amortization $1.007M $1.021M
YoY Change -52.12% -51.29%
Cash From Operating Activities -$8.949M -$15.00M
YoY Change -33.46% 18.47%
INVESTING ACTIVITIES
Capital Expenditures $865.0K -$532.0K
YoY Change -204.85% -4.32%
Acquisitions
YoY Change
Other Investing Activities $5.333M $18.42M
YoY Change -152.41% 23.05%
Cash From Investing Activities $4.468M $17.89M
YoY Change -140.61% 24.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 61.00K 0.000
YoY Change -50.41% -100.0%
NET CHANGE
Cash From Operating Activities -8.949M -15.00M
Cash From Investing Activities 4.468M 17.89M
Cash From Financing Activities 61.00K 0.000
Net Change In Cash -4.420M 2.887M
YoY Change -81.83% -428.82%
FREE CASH FLOW
Cash From Operating Activities -$8.949M -$15.00M
Capital Expenditures $865.0K -$532.0K
Free Cash Flow -$9.814M -$14.47M
YoY Change -22.26% 19.52%

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nxtc Depreciation Depletion And Amortization And Other
DepreciationDepletionAndAmortizationAndOther
3117000
nxtc Depreciation Depletion And Amortization And Other
DepreciationDepletionAndAmortizationAndOther
3136000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-2594000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-1957000
us-gaap Share Based Compensation
ShareBasedCompensation
7182000
us-gaap Share Based Compensation
ShareBasedCompensation
7778000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-234000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4365000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-95000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-955000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-506000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-395000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1535000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
63511000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
47602000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
66000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
85000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
73000
us-gaap Repayments Of Debt
RepaymentsOfDebt
3473000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
139000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3388000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
18713000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
419000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12376000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36284000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31089000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36703000
us-gaap Interest Paid Net
InterestPaidNet
68000
us-gaap Interest Paid Net
InterestPaidNet
139000
CY2022Q3 nxtc Restricted Cash And Other Assets Current
RestrictedCashAndOtherAssetsCurrent
39000
CY2021Q4 nxtc Restricted Cash And Other Assets Current
RestrictedCashAndOtherAssetsCurrent
39000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31089000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12376000
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>
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
31050000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12337000
CY2022Q3 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
140560000
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2396000
CY2022Q3 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
138164000
CY2021Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
207917000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
3000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
666000
CY2021Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
207254000
CY2022Q3 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0
CY2021Q3 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
1000
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
9000
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
57000
CY2022Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
138200000
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
59000000.0
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
122104000
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
120303000
CY2022Q3 nxtc Available For Sale Securities Debt Maturities After One Through Two Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsAmortizedCost
18456000
CY2022Q3 nxtc Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue
17861000
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
140560000
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
138164000
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
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2312000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2483000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7182000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7778000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.797
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-18911000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-17930000
us-gaap Net Income Loss
NetIncomeLoss
-57433000
us-gaap Net Income Loss
NetIncomeLoss
-52450000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27748844
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27615038
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27734271
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27607685
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.68
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.65
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.90
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5276833
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4544382
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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