$NXTC
NextCure Inc

2023 Q4 Form 10-Q Financial Statement

#000155837023017429 Filed on November 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.963M $4.610M
YoY Change -19.92% -19.28%
% of Gross Profit
Research & Development $11.83M $11.01M
YoY Change -7.76% -18.61%
% of Gross Profit
Depreciation & Amortization $824.0K $950.0K
YoY Change -18.17% -6.95%
% of Gross Profit
Operating Expenses $15.79M $15.62M
YoY Change -11.15% -18.82%
Operating Profit -$15.62M
YoY Change -18.82%
Interest Expense $1.323M $1.320M
YoY Change 180.89% 302.44%
% of Operating Profit
Other Income/Expense, Net $1.323M $1.317M
YoY Change 301.52%
Pretax Income -$14.47M -$14.30M
YoY Change -16.38% -24.38%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$14.47M -$14.30M
YoY Change -16.38% -24.38%
Net Earnings / Revenue
Basic Earnings Per Share -$0.51
Diluted Earnings Per Share -$0.52 -$0.51
COMMON SHARES
Basic Shares Outstanding 27.90M 27.84M
Diluted Shares Outstanding 27.84M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $108.3M $118.2M
YoY Change -32.28% -30.15%
Cash & Equivalents $13.08M $19.52M
Short-Term Investments $95.22M $98.70M
Other Short-Term Assets $4.426M $4.500M
YoY Change 8.69% -26.24%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $112.7M $122.7M
YoY Change -31.26% -30.02%
LONG-TERM ASSETS
Property, Plant & Equipment $9.033M $9.844M
YoY Change -24.07% -18.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.882M $2.854M
YoY Change -42.36% 15.59%
Total Long-Term Assets $15.31M $17.26M
YoY Change -24.11% 18.23%
TOTAL ASSETS
Total Short-Term Assets $112.7M $122.7M
Total Long-Term Assets $15.31M $17.26M
Total Assets $128.0M $139.9M
YoY Change -30.47% -26.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.330M $2.602M
YoY Change -45.43% 40.95%
Accrued Expenses $4.553M $4.000M
YoY Change -6.26% 1.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.883M $6.552M
YoY Change -24.59% 11.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $785.0K $815.0K
YoY Change -12.68% -67.1%
Total Long-Term Liabilities $785.0K $815.0K
YoY Change -12.68% -67.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.883M $6.552M
Total Long-Term Liabilities $785.0K $815.0K
Total Liabilities $13.62M $13.49M
YoY Change -18.12% 61.17%
SHAREHOLDERS EQUITY
Retained Earnings -$324.5M -$310.0M
YoY Change 23.96% 26.82%
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 $114.4M $126.5M
YoY Change
Total Liabilities & Shareholders Equity $128.0M $139.9M
YoY Change -30.47% -26.31%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$14.47M -$14.30M
YoY Change -16.38% -24.38%
Depreciation, Depletion And Amortization $824.0K $950.0K
YoY Change -18.17% -6.95%
Cash From Operating Activities -$10.67M -$12.77M
YoY Change 19.23% -14.87%
INVESTING ACTIVITIES
Capital Expenditures $13.00K $280.0K
YoY Change -98.5% -152.63%
Acquisitions
YoY Change
Other Investing Activities $4.175M $10.56M
YoY Change -21.71% -42.67%
Cash From Investing Activities $4.162M $10.28M
YoY Change -6.85% -42.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 71.00K 0.000
YoY Change 16.39%
NET CHANGE
Cash From Operating Activities -10.67M -12.77M
Cash From Investing Activities 4.162M 10.28M
Cash From Financing Activities 71.00K 0.000
Net Change In Cash -6.437M -2.490M
YoY Change 45.63% -186.25%
FREE CASH FLOW
Cash From Operating Activities -$10.67M -$12.77M
Capital Expenditures $13.00K $280.0K
Free Cash Flow -$10.68M -$13.05M
YoY Change 8.85% -9.81%

Facts In Submission

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IncreaseDecreaseInAccruedAndOtherCurrentLiabilities
907000
nxtc Increase Decrease In Accrued And Other Current Liabilities
IncreaseDecreaseInAccruedAndOtherCurrentLiabilities
536000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-485000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-42304000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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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
78029000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
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us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
13267000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
807000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1251000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
35110000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
63511000
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
-7111000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
18713000
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
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19519000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31089000
us-gaap Interest Paid Net
InterestPaidNet
62000
us-gaap Interest Paid Net
InterestPaidNet
68000
CY2023Q3 nxtc Cash And Cash Equivalents And Marketable Securities At Carrying Value
CashAndCashEquivalentsAndMarketableSecuritiesAtCarryingValue
118200000
CY2023Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
272000
us-gaap Operating Lease Expense
OperatingLeaseExpense
816000
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
245000
us-gaap Operating Lease Payments
OperatingLeasePayments
757000
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>
CY2023Q3 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
99290000
CY2023Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
603000
CY2023Q3 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
98687000
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
CY2023Q3 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0
CY2022Q3 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
CY2023Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
98700000
CY2023Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
18400000
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
97274000
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
96695000
CY2023Q3 nxtc Available For Sale Securities Debt Maturities After One Through Two Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsAmortizedCost
2016000
CY2023Q3 nxtc Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue
1992000
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
99290000
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
98687000
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
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y6M
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0746
CY2022Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
248000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
739000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
276000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1127000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1214000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1355000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1396000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
3295000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8663000
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1907000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
6756000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2001000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2312000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6204000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7182000
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
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-14301000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-18911000
us-gaap Net Income Loss
NetIncomeLoss
-48256000
us-gaap Net Income Loss
NetIncomeLoss
-57433000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27839968
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27748844
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27814655
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27734271
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.51
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.68
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.73
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.07
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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