$OCUL
OCULAR THERAPEUTIX, INC

2016 Q4 Form 10-Q Financial Statement

#000119312516763691 Filed on November 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q4
Revenue $510.0K $477.0K $436.0K
YoY Change 16.97% 11.19% -13.66%
Cost Of Revenue $130.0K $112.0K $90.00K
YoY Change 44.44% 23.08% 200.0%
Gross Profit $380.0K $365.0K $340.0K
YoY Change 11.76% 7.99% -29.17%
Gross Profit Margin 74.51% 76.52% 77.98%
Selling, General & Admin $5.530M $3.917M $3.730M
YoY Change 48.26% 20.56% 29.97%
% of Gross Profit 1455.26% 1073.15% 1097.06%
Research & Development $7.330M $5.686M $6.890M
YoY Change 6.39% -31.19% 33.79%
% of Gross Profit 1928.95% 1557.81% 2026.47%
Depreciation & Amortization $250.0K $220.0K $200.0K
YoY Change 25.0% 15.79% 17.65%
% of Gross Profit 65.79% 60.27% 58.82%
Operating Expenses $12.85M $9.603M $10.62M
YoY Change 21.0% -17.24% 32.42%
Operating Profit -$12.47M -$9.238M -$10.28M
YoY Change 21.36% -17.33% 36.15%
Interest Expense -$350.0K $426.0K -$360.0K
YoY Change -2.78% 4.93% -12.2%
% of Operating Profit
Other Income/Expense, Net $0.00 -$358.0K $0.00
YoY Change 2.29%
Pretax Income -$12.82M -$9.600M -$10.64M
YoY Change 20.49% -16.67% 33.84%
Income Tax
% Of Pretax Income
Net Earnings -$12.82M -$9.596M -$10.64M
YoY Change 20.52% -16.73% 33.73%
Net Earnings / Revenue -2513.73% -2011.74% -2439.68%
Basic Earnings Per Share
Diluted Earnings Per Share -$515.1K -$386.3K -$430.8K
COMMON SHARES
Basic Shares Outstanding 24.88M shares 24.82M shares 24.73M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $68.10M $75.75M $105.1M
YoY Change -35.18% -33.35% 40.41%
Cash & Equivalents $32.90M $52.23M $30.78M
Short-Term Investments $35.20M $23.51M $74.28M
Other Short-Term Assets $1.400M $700.0K $1.600M
YoY Change -12.5% -63.16% 77.78%
Inventory $100.0K $126.0K $134.0K
Prepaid Expenses
Receivables $300.0K $200.0K $193.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $69.90M $76.82M $107.0M
YoY Change -34.66% -33.71% 40.43%
LONG-TERM ASSETS
Property, Plant & Equipment $3.300M $3.795M $3.095M
YoY Change 6.62% 18.85% 73.68%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.700M $1.700M $200.0K
YoY Change 750.0% 750.0% 0.0%
Total Long-Term Assets $5.000M $5.523M $3.323M
YoY Change 50.47% 61.44% 65.32%
TOTAL ASSETS
Total Short-Term Assets $69.90M $76.82M $107.0M
Total Long-Term Assets $5.000M $5.523M $3.323M
Total Assets $74.90M $82.35M $110.3M
YoY Change -32.1% -30.99% 41.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.100M $1.680M $1.957M
YoY Change 7.31% 3.45% 48.71%
Accrued Expenses $4.600M $2.791M $3.379M
YoY Change 36.13% -22.28% 12.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.500M $3.800M $0.00
YoY Change -35.59% -100.0%
Total Short-Term Liabilities $8.300M $8.243M $5.378M
YoY Change 54.33% -26.28% -8.44%
LONG-TERM LIABILITIES
Long-Term Debt $14.10M $11.80M $15.30M
YoY Change -7.84% 28.26% 13.33%
Other Long-Term Liabilities $500.0K $0.00 $100.0K
YoY Change 400.0% -100.0% 0.0%
Total Long-Term Liabilities $14.60M $11.80M $15.40M
YoY Change -5.19% 26.88% 13.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.300M $8.243M $5.378M
Total Long-Term Liabilities $14.60M $11.80M $15.40M
Total Liabilities $22.90M $20.05M $20.72M
YoY Change 10.53% -2.23% 6.26%
SHAREHOLDERS EQUITY
Retained Earnings -$161.1M -$129.2M
YoY Change 35.87% 44.45%
Common Stock $223.3M $218.8M
YoY Change 2.75% 47.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $52.00M $62.29M $89.59M
YoY Change
Total Liabilities & Shareholders Equity $74.90M $82.35M $110.3M
YoY Change -32.1% -30.99% 41.07%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q4
OPERATING ACTIVITIES
Net Income -$12.82M -$9.596M -$10.64M
YoY Change 20.52% -16.73% 33.73%
Depreciation, Depletion And Amortization $250.0K $220.0K $200.0K
YoY Change 25.0% 15.79% 17.65%
Cash From Operating Activities -$7.610M -$7.330M -$8.630M
YoY Change -11.82% -24.43% 53.29%
INVESTING ACTIVITIES
Capital Expenditures -$680.0K -$870.0K -$470.0K
YoY Change 44.68% 987.5% 6.82%
Acquisitions
YoY Change
Other Investing Activities -$10.20M $12.19M -$1.610M
YoY Change 533.54% -144.31% -95.69%
Cash From Investing Activities -$10.88M $11.32M -$2.090M
YoY Change 420.57% -141.04% -94.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 700.0K 80.00K 300.0K
YoY Change 133.33% -140.0% -372.73%
NET CHANGE
Cash From Operating Activities -7.610M -7.330M -8.630M
Cash From Investing Activities -10.88M 11.32M -2.090M
Cash From Financing Activities 700.0K 80.00K 300.0K
Net Change In Cash -17.79M 4.070M -10.42M
YoY Change 70.73% -110.86% -76.05%
FREE CASH FLOW
Cash From Operating Activities -$7.610M -$7.330M -$8.630M
Capital Expenditures -$680.0K -$870.0K -$470.0K
Free Cash Flow -$6.930M -$6.460M -$8.160M
YoY Change -15.07% -32.85% 57.23%

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us-gaap Use Of Estimates
UseOfEstimates
<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.&#xA0;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>
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1334000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
64684000
dei Trading Symbol
TradingSymbol
OCUL
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
19737000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
153000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
4175000
us-gaap Share Based Compensation
ShareBasedCompensation
4233000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24792087 shares
ocul Class Of Warrant Or Rights Date From Which Warrants Or Rights Expired
ClassOfWarrantOrRightsDateFromWhichWarrantsOrRightsExpired
2021-04-17
ocul Lease Agreement Commencement Date
LeaseAgreementCommencementDate
2017-02-01
ocul Repayments Of Insurance Costs Financed By Third Party
RepaymentsOfInsuranceCostsFinancedByThirdParty
389000
ocul Premium On Marketable Securities
PremiumOnMarketableSecurities
17000
ocul Warrant Exercised
WarrantExercised
0 shares
ocul Maturity Period For Marketable Securities Classified As Available For Sale
MaturityPeriodForMarketableSecuritiesClassifiedAsAvailableForSale
P1Y
ocul Earliest Year Open For Tax Examination
EarliestYearOpenForTaxExamination
2013
ocul Non Cancelable Operating Leases Expiration Dates
NonCancelableOperatingLeasesExpirationDates
June 2017, June 2018 and July 2027
CY2015 ocul Maturity Period For Marketable Securities Classified As Available For Sale
MaturityPeriodForMarketableSecuritiesClassifiedAsAvailableForSale
P1Y
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.47
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2451000
CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-11532000
CY2015Q3 us-gaap Costs And Expenses
CostsAndExpenses
11603000
CY2015Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
91000
CY2015Q3 us-gaap Contracts Revenue
ContractsRevenue
41000
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
429000
CY2015Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
193000
CY2015Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-350000
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3000
CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-8000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-11524000
CY2015Q3 us-gaap Interest Expense
InterestExpense
406000
CY2015Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-8000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-11174000
CY2015Q3 us-gaap Investment Income Net
InvestmentIncomeNet
53000
CY2015Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
388000
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8263000
CY2015Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
798000
CY2015Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1231000
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.39
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2623000
CY2016Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-9601000
CY2016Q3 us-gaap Costs And Expenses
CostsAndExpenses
9715000
CY2016Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
112000
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24713597 shares
CY2016Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1294000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-9238000
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
477000
CY2016Q3 us-gaap Investment Income Net
InvestmentIncomeNet
69000
CY2016Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
477000
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5686000
CY2016Q3 us-gaap Interest Expense
InterestExpense
426000
CY2016Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-5000
CY2016Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
194000
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-358000
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000
CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-5000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-9596000
CY2016Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1369000
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24853880 shares

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