$OCUL
OCULAR THERAPEUTIX, INC

2016 Q2 Form 10-Q Financial Statement

#000119312516584714 Filed on May 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q1
Revenue $441.0K $458.0K $426.0K
YoY Change -3.92% 7.51% 1477.78%
Cost Of Revenue $105.0K $99.00K $56.00K
YoY Change 31.25% 76.79% 522.22%
Gross Profit $336.0K $359.0K $370.0K
YoY Change -11.35% -2.97% 1955.56%
Gross Profit Margin 76.19% 78.38% 86.85%
Selling, General & Admin $4.465M $3.795M $2.764M
YoY Change 36.5% 37.3% 46.63%
% of Gross Profit 1328.87% 1057.1% 747.03%
Research & Development $6.978M $7.073M $4.719M
YoY Change 3.49% 49.88% -4.82%
% of Gross Profit 2076.79% 1970.19% 1275.41%
Depreciation & Amortization $200.0K $205.0K $173.0K
YoY Change 5.26% 18.5% 86.02%
% of Gross Profit 59.52% 57.1% 46.76%
Operating Expenses $11.44M $10.97M $7.539M
YoY Change 13.36% 45.47% 10.03%
Operating Profit -$11.11M -$10.51M -$7.113M
YoY Change 15.28% 47.74% 4.22%
Interest Expense $418.0K $418.0K $505.0K
YoY Change 3.21% -17.23% 1074.42%
% of Operating Profit
Other Income/Expense, Net -$338.0K -$331.0K -$465.0K
YoY Change -9.63% -28.82% 154.1%
Pretax Income -$11.45M -$10.84M -$7.580M
YoY Change 14.39% 43.01% 8.13%
Income Tax
% Of Pretax Income
Net Earnings -$11.45M -$10.84M -$7.578M
YoY Change 14.35% 43.05% 8.13%
Net Earnings / Revenue -2595.24% -2366.81% -1778.87%
Basic Earnings Per Share
Diluted Earnings Per Share -$462.3K -$438.0K -$354.9K
COMMON SHARES
Basic Shares Outstanding 24.77M shares 24.75M shares 21.42M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $83.89M $95.46M $67.42M
YoY Change -32.2% 41.58% 426.74%
Cash & Equivalents $48.17M $46.21M $12.52M
Short-Term Investments $35.72M $49.24M $54.90M
Other Short-Term Assets $700.0K $1.300M $1.500M
YoY Change -73.08% -13.33% 150.0%
Inventory $149.0K $127.0K $158.0K
Prepaid Expenses
Receivables $200.0K $200.0K $352.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $84.97M $97.10M $69.47M
YoY Change -32.9% 39.77% 403.41%
LONG-TERM ASSETS
Property, Plant & Equipment $3.199M $3.107M $1.799M
YoY Change 22.9% 72.71% 79.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.700M $200.0K $200.0K
YoY Change 750.0% 0.0% 0.0%
Total Long-Term Assets $4.927M $3.335M $2.027M
YoY Change 74.04% 64.53% 55.92%
TOTAL ASSETS
Total Short-Term Assets $84.97M $97.10M $69.47M
Total Long-Term Assets $4.927M $3.335M $2.027M
Total Assets $89.90M $100.4M $71.50M
YoY Change -30.56% 40.47% 373.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.611M $2.063M $2.195M
YoY Change -42.71% -6.01% 119.5%
Accrued Expenses $2.342M $2.779M $1.922M
YoY Change 2.54% 44.59% 174.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.500M $1.200M $2.900M
YoY Change -43.18% -58.62% 1350.0%
Total Short-Term Liabilities $6.419M $6.003M $7.227M
YoY Change -33.07% -16.94% 244.14%
LONG-TERM LIABILITIES
Long-Term Debt $13.00M $14.20M $12.10M
YoY Change 21.5% 17.36% 536.84%
Other Long-Term Liabilities $0.00 $100.0K $100.0K
YoY Change -100.0% 0.0% -75.0%
Total Long-Term Liabilities $13.00M $14.30M $12.20M
YoY Change 20.37% 17.21% 430.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.419M $6.003M $7.227M
Total Long-Term Liabilities $13.00M $14.30M $12.20M
Total Liabilities $19.45M $20.26M $19.42M
YoY Change -4.45% 4.31% 351.72%
SHAREHOLDERS EQUITY
Retained Earnings -$151.5M -$140.0M -$97.01M
YoY Change 41.53% 44.34%
Common Stock $221.9M $220.2M $149.1M
YoY Change 2.67% 47.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $70.45M $80.17M $52.07M
YoY Change
Total Liabilities & Shareholders Equity $89.90M $100.4M $71.50M
YoY Change -30.56% 40.47% 373.49%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$11.45M -$10.84M -$7.578M
YoY Change 14.35% 43.05% 8.13%
Depreciation, Depletion And Amortization $200.0K $205.0K $173.0K
YoY Change 5.26% 18.5% 86.02%
Cash From Operating Activities -$9.800M -$9.260M -$6.880M
YoY Change 14.89% 34.59% 70.72%
INVESTING ACTIVITIES
Capital Expenditures -$240.0K $127.0K $354.0K
YoY Change -72.73% -64.12% 19.19%
Acquisitions
YoY Change
Other Investing Activities $12.00M $25.00M -$17.50M
YoY Change 22.08% -242.86%
Cash From Investing Activities $11.76M $24.87M -$17.85M
YoY Change 31.4% -239.33% 5850.0%
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 -190.0K -140.0K
YoY Change -100.0% 35.71% -67.44%
NET CHANGE
Cash From Operating Activities -9.800M -9.260M -6.880M
Cash From Investing Activities 11.76M 24.87M -17.85M
Cash From Financing Activities 0.000 -190.0K -140.0K
Net Change In Cash 1.960M 15.42M -24.87M
YoY Change -97.04% -162.0% 422.48%
FREE CASH FLOW
Cash From Operating Activities -$9.800M -$9.260M -$6.880M
Capital Expenditures -$240.0K $127.0K $354.0K
Free Cash Flow -$9.560M -$9.387M -$7.234M
YoY Change 24.97% 29.76% 67.18%

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CY2016Q1 dei Entity Central Index Key
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0001393434
CY2016Q1 dei Entity Filer Category
EntityFilerCategory
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CY2016Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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CY2016Q1 dei Entity Registrant Name
EntityRegistrantName
Ocular Therapeutix, Inc.
CY2016Q1 dei Document Period End Date
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> 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 contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, revenue recognition, the accrual of research and development expenses and the valuation of common stock and stock-based awards and preferred stock warrants. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Actual results could differ from the Company&#x2019;s estimates.</p> </div>
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InterestExpense
418000
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
24873000
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-189000
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7073000
CY2016Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-424000
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5000
CY2016Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2406000
CY2016Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
35000
CY2016Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
99000
CY2016Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
25000000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
79000
CY2016Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
205000
CY2016Q1 ocul Earliest Year Open For Tax Examination
EarliestYearOpenForTaxExamination
2012
CY2016Q1 ocul Maturity Period For Marketable Securities Classified As Available For Sale
MaturityPeriodForMarketableSecuritiesClassifiedAsAvailableForSale
P1Y
CY2016Q1 ocul Class Of Warrant Or Rights Date From Which Warrants Or Rights Expired
ClassOfWarrantOrRightsDateFromWhichWarrantsOrRightsExpired
2021-04-17
CY2016Q1 ocul Non Cancelable Operating Leases Expiration Dates
NonCancelableOperatingLeasesExpirationDates
June 2017 and June 2018
CY2016Q1 ocul Warrant Exercised
WarrantExercised
0 shares
CY2016Q1 ocul Repayments Of Insurance Costs Financed By Third Party
RepaymentsOfInsuranceCostsFinancedByThirdParty
194000

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