$NXTC
NextCure Inc

2024 Q3 Form 10-Q Financial Statement

#000155837024010605 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.076M $5.711M
YoY Change -28.63% 7.69%
% of Gross Profit
Research & Development $12.42M $13.45M
YoY Change -7.65% 4.85%
% of Gross Profit
Depreciation & Amortization $701.0K $954.0K
YoY Change -26.52% -95500.0%
% of Gross Profit
Operating Expenses $16.49M $19.16M
YoY Change -13.91% 5.68%
Operating Profit -$16.49M -$19.16M
YoY Change -13.91% 5.68%
Interest Expense $1.299M
YoY Change 524.52%
% of Operating Profit
Other Income/Expense, Net $1.090M $1.299M
YoY Change -16.09% 524.52%
Pretax Income -$15.40M -$17.86M
YoY Change -13.75% -0.34%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$15.40M -$17.86M
YoY Change -13.75% -0.34%
Net Earnings / Revenue
Basic Earnings Per Share -$0.55 -$0.64
Diluted Earnings Per Share -$0.55 -$0.64
COMMON SHARES
Basic Shares Outstanding 27.98M 27.97M 27.83M
Diluted Shares Outstanding 27.97M 27.83M

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $86.44M $130.6M
YoY Change -33.83% -29.58%
Cash & Equivalents $20.85M $22.02M
Short-Term Investments $65.59M $108.6M
Other Short-Term Assets $4.019M $4.676M
YoY Change -14.05% -37.34%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $90.46M $135.3M
YoY Change -33.14% -29.88%
LONG-TERM ASSETS
Property, Plant & Equipment $6.699M $15.22M
YoY Change -55.99% 20.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.874M $2.858M
YoY Change -34.43% 256.8%
Total Long-Term Assets $12.13M $18.08M
YoY Change -32.89% 34.77%
TOTAL ASSETS
Total Short-Term Assets $90.46M $135.3M
Total Long-Term Assets $12.13M $18.08M
Total Assets $102.6M $153.4M
YoY Change -33.11% -25.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.075M $2.813M
YoY Change 80.41% 23.81%
Accrued Expenses $5.758M $5.007M
YoY Change 15.0% 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 $10.83M $7.820M
YoY Change 38.53% 37.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $725.0K $7.130M
YoY Change -89.83% 187.85%
Total Long-Term Liabilities $725.0K $7.130M
YoY Change -89.83% 187.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.83M $7.820M
Total Long-Term Liabilities $725.0K $7.130M
Total Liabilities $17.15M $14.95M
YoY Change 14.7% 82.9%
SHAREHOLDERS EQUITY
Retained Earnings -$357.0M -$295.7M
YoY Change 20.72% 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 $85.44M $138.4M
YoY Change
Total Liabilities & Shareholders Equity $102.6M $153.4M
YoY Change -33.11% -25.68%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$15.40M -$17.86M
YoY Change -13.75% -0.34%
Depreciation, Depletion And Amortization $701.0K $954.0K
YoY Change -26.52% -95500.0%
Cash From Operating Activities -$9.776M -$14.75M
YoY Change -33.71% 1.78%
INVESTING ACTIVITIES
Capital Expenditures $301.0K $280.0K
YoY Change 7.5% -167.63%
Acquisitions
YoY Change
Other Investing Activities $12.46M $6.990M
YoY Change 78.27% -78.38%
Cash From Investing Activities $12.16M $6.710M
YoY Change 81.22% -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 106.0K 83.00K
YoY Change 27.71% 5.06%
NET CHANGE
Cash From Operating Activities -9.776M -14.75M
Cash From Investing Activities 12.16M 6.710M
Cash From Financing Activities 106.0K 83.00K
Net Change In Cash 2.490M -7.954M
YoY Change -131.31% -145.42%
FREE CASH FLOW
Cash From Operating Activities -$9.776M -$14.75M
Capital Expenditures $301.0K $280.0K
Free Cash Flow -$10.08M -$15.03M
YoY Change -32.94% 6.76%

Facts In Submission

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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Other Noncurrent Liabilities
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us-gaap Increase Decrease In Other Noncurrent Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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us-gaap Payments To Acquire Marketable Securities
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us-gaap Payments To Acquire Marketable Securities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
528000
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Of Common Stock
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5000
us-gaap Proceeds From Stock Plans
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us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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InterestPaidNet
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InterestPaidNet
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CY2024Q2 nxtc Cash And Cash Equivalents And Marketable Securities At Carrying Value
CashAndCashEquivalentsAndMarketableSecuritiesAtCarryingValue
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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>
CY2024Q2 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
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CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
21000
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2024Q2 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
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CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
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CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
41000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
263000
CY2023Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
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CY2024Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
56700000
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
19000000.0
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
65675000
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
65588000
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
65675000
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
65588000
CY2024Q2 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
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CY2023Q4 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
800000
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
CY2024Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
254000
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
272000
us-gaap Operating Lease Expense
OperatingLeaseExpense
526000
us-gaap Operating Lease Expense
OperatingLeaseExpense
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us-gaap Operating Lease Payments
OperatingLeasePayments
559000
us-gaap Operating Lease Payments
OperatingLeasePayments
512000
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0747
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
568000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1438000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1857000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7828000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1540000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2024Q2 us-gaap Allocated Share Based Compensation Expense
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CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
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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 Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.041
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
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CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
-32511000
us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27972744
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27828741
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27937892
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27801788
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7121924
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
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CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
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CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
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CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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