$NXTC
NextCure Inc

2023 Q3 Form 10-Q Financial Statement

#000155837023013250 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.610M $5.711M
YoY Change -19.28% 7.69%
% of Gross Profit
Research & Development $11.01M $13.45M
YoY Change -18.61% 4.85%
% of Gross Profit
Depreciation & Amortization $950.0K $954.0K
YoY Change -6.95% -95500.0%
% of Gross Profit
Operating Expenses $15.62M $19.16M
YoY Change -18.82% 5.68%
Operating Profit -$15.62M -$19.16M
YoY Change -18.82% 5.68%
Interest Expense $1.320M $1.299M
YoY Change 302.44% 524.52%
% of Operating Profit
Other Income/Expense, Net $1.317M $1.299M
YoY Change 301.52% 524.52%
Pretax Income -$14.30M -$17.86M
YoY Change -24.38% -0.34%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$14.30M -$17.86M
YoY Change -24.38% -0.34%
Net Earnings / Revenue
Basic Earnings Per Share -$0.51 -$0.64
Diluted Earnings Per Share -$0.51 -$0.64
COMMON SHARES
Basic Shares Outstanding 27.84M 27.83M
Diluted Shares Outstanding 27.84M 27.83M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $118.2M $130.6M
YoY Change -30.15% -29.58%
Cash & Equivalents $19.52M $22.02M
Short-Term Investments $98.70M $108.6M
Other Short-Term Assets $4.500M $4.676M
YoY Change -26.24% -37.34%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $122.7M $135.3M
YoY Change -30.02% -29.88%
LONG-TERM ASSETS
Property, Plant & Equipment $9.844M $15.22M
YoY Change -18.81% 20.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.854M $2.858M
YoY Change 15.59% 256.8%
Total Long-Term Assets $17.26M $18.08M
YoY Change 18.23% 34.77%
TOTAL ASSETS
Total Short-Term Assets $122.7M $135.3M
Total Long-Term Assets $17.26M $18.08M
Total Assets $139.9M $153.4M
YoY Change -26.31% -25.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.602M $2.813M
YoY Change 40.95% 23.81%
Accrued Expenses $4.000M $5.007M
YoY Change 1.45% 50.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.552M $7.820M
YoY Change 11.22% 37.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $815.0K $7.130M
YoY Change -67.1% 187.85%
Total Long-Term Liabilities $815.0K $7.130M
YoY Change -67.1% 187.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.552M $7.820M
Total Long-Term Liabilities $815.0K $7.130M
Total Liabilities $13.49M $14.95M
YoY Change 61.17% 82.9%
SHAREHOLDERS EQUITY
Retained Earnings -$310.0M -$295.7M
YoY Change 26.82% 31.11%
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 $126.5M $138.4M
YoY Change
Total Liabilities & Shareholders Equity $139.9M $153.4M
YoY Change -26.31% -25.68%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$14.30M -$17.86M
YoY Change -24.38% -0.34%
Depreciation, Depletion And Amortization $950.0K $954.0K
YoY Change -6.95% -95500.0%
Cash From Operating Activities -$12.77M -$14.75M
YoY Change -14.87% 1.78%
INVESTING ACTIVITIES
Capital Expenditures $280.0K $280.0K
YoY Change -152.63% -167.63%
Acquisitions
YoY Change
Other Investing Activities $10.56M $6.990M
YoY Change -42.67% -78.38%
Cash From Investing Activities $10.28M $6.710M
YoY Change -42.53% -78.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 83.00K
YoY Change 5.06%
NET CHANGE
Cash From Operating Activities -12.77M -14.75M
Cash From Investing Activities 10.28M 6.710M
Cash From Financing Activities 0.000 83.00K
Net Change In Cash -2.490M -7.954M
YoY Change -186.25% -145.42%
FREE CASH FLOW
Cash From Operating Activities -$12.77M -$14.75M
Capital Expenditures $280.0K $280.0K
Free Cash Flow -$13.05M -$15.03M
YoY Change -9.81% 6.76%

Facts In Submission

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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
45623000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
66000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
78000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
73000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
83000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
139000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4611000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
15826000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26630000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12376000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22019000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28202000
us-gaap Interest Paid Net
InterestPaidNet
42000
us-gaap Interest Paid Net
InterestPaidNet
46000
CY2023Q2 nxtc Cash And Cash Equivalents And Marketable Securities At Carrying Value
CashAndCashEquivalentsAndMarketableSecuritiesAtCarryingValue
130600000
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>
CY2023Q2 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
109529000
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
925000
CY2023Q2 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
108604000
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
134775000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1494000
CY2022Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
133281000
CY2023Q2 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0
CY2022Q2 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
7000
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
9000
CY2023Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
102200000
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
19400000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
87681000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
86986000
CY2023Q2 nxtc Available For Sale Securities Debt Maturities After One Through Two Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsAmortizedCost
21848000
CY2023Q2 nxtc Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue
21618000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
109529000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
108604000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2023Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
272000
us-gaap Operating Lease Expense
OperatingLeaseExpense
544000
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
266000
us-gaap Operating Lease Payments
OperatingLeasePayments
512000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y9M
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0747
CY2022Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
243000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
491000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
536000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1127000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1214000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1355000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1396000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
3295000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8923000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2050000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
6873000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2125000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2242000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4203000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4870000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.814
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.797
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-17859000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27828741
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.64
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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