$NXTC
NextCure Inc

2023 Q2 Form 10-Q Financial Statement

#000155837023008131 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.711M $5.424M
YoY Change 7.69% -5.62%
% of Gross Profit
Research & Development $13.45M $11.65M
YoY Change 4.85% -22.48%
% of Gross Profit
Depreciation & Amortization $954.0K $960.0K
YoY Change -95500.0% -54.22%
% of Gross Profit
Operating Expenses $19.16M $17.07M
YoY Change 5.68% -17.81%
Operating Profit -$19.16M -$17.07M
YoY Change 5.68% -17.81%
Interest Expense $1.299M $975.0K
YoY Change 524.52% 476.92%
% of Operating Profit
Other Income/Expense, Net $1.299M $975.0K
YoY Change 524.52% 476.92%
Pretax Income -$17.86M -$16.10M
YoY Change -0.34% -21.87%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$17.86M -$16.10M
YoY Change -0.34% -21.87%
Net Earnings / Revenue
Basic Earnings Per Share -$0.64 -$0.58
Diluted Earnings Per Share -$0.64 -$0.58
COMMON SHARES
Basic Shares Outstanding 27.83M 27.77M
Diluted Shares Outstanding 27.83M 27.77M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $130.6M $145.5M
YoY Change -29.58% -27.73%
Cash & Equivalents $22.02M $29.97M
Short-Term Investments $108.6M $115.5M
Other Short-Term Assets $4.676M $3.425M
YoY Change -37.34% -54.99%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $135.3M $148.9M
YoY Change -29.88% -28.72%
LONG-TERM ASSETS
Property, Plant & Equipment $15.22M $11.19M
YoY Change 20.67% -15.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.858M $2.823M
YoY Change 256.8% 391.81%
Total Long-Term Assets $18.08M $18.87M
YoY Change 34.77% 36.63%
TOTAL ASSETS
Total Short-Term Assets $135.3M $148.9M
Total Long-Term Assets $18.08M $18.87M
Total Assets $153.4M $167.8M
YoY Change -25.68% -24.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.813M $1.919M
YoY Change 23.81% -31.49%
Accrued Expenses $5.007M $4.347M
YoY Change 50.59% 27.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.820M $6.266M
YoY Change 37.27% -2.46%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.130M $872.0K
YoY Change 187.85% -63.45%
Total Long-Term Liabilities $7.130M $872.0K
YoY Change 187.85% -63.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.820M $6.266M
Total Long-Term Liabilities $7.130M $872.0K
Total Liabilities $14.95M $13.59M
YoY Change 82.9% 54.23%
SHAREHOLDERS EQUITY
Retained Earnings -$295.7M -$277.9M
YoY Change 31.11% 33.82%
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 $138.4M $154.2M
YoY Change
Total Liabilities & Shareholders Equity $153.4M $167.8M
YoY Change -25.68% -24.67%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$17.86M -$16.10M
YoY Change -0.34% -21.87%
Depreciation, Depletion And Amortization $954.0K $960.0K
YoY Change -95500.0% -54.22%
Cash From Operating Activities -$14.75M -$14.78M
YoY Change 1.78% -4.32%
INVESTING ACTIVITIES
Capital Expenditures $280.0K $248.0K
YoY Change -167.63% -18.69%
Acquisitions
YoY Change
Other Investing Activities $6.990M $18.37M
YoY Change -78.38% 31.15%
Cash From Investing Activities $6.710M $18.12M
YoY Change -78.98% 32.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 83.00K 0.000
YoY Change 5.06% -100.0%
NET CHANGE
Cash From Operating Activities -14.75M -14.78M
Cash From Investing Activities 6.710M 18.12M
Cash From Financing Activities 83.00K 0.000
Net Change In Cash -7.954M 3.343M
YoY Change -145.42% -298.4%
FREE CASH FLOW
Cash From Operating Activities -$14.75M -$14.78M
Capital Expenditures $280.0K $248.0K
Free Cash Flow -$15.03M -$15.03M
YoY Change 6.76% -4.6%

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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CY2023Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0
CY2022Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
2000
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
99200000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
81747000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
81051000
CY2023Q1 nxtc Available For Sale Securities Debt Maturities After One Through Two Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsAmortizedCost
34576000
CY2023Q1 nxtc Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue
34469000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
116323000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
115520000
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2023Q1 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2023Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
272000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
246000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0746
CY2023Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
248000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
787000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1127000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1214000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1355000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1396000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
3295000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
9174000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2165000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
7009000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2078000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2628000
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2022Q1 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
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-16096000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-20602000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27774536
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27708768
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.58
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.74
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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