$OCUL
OCULAR THERAPEUTIX, INC

2023 Q3 Form 10-Q Financial Statement

#000155837023013591 Filed on August 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $15.08M $15.19M
YoY Change 26.04% 23.81%
Cost Of Revenue $1.377M $1.304M
YoY Change 28.33% 12.9%
Gross Profit $13.70M $13.88M
YoY Change 25.82% 24.94%
Gross Profit Margin 90.87% 91.41%
Selling, General & Admin $17.90M $19.36M
YoY Change -4.37% 7.98%
% of Gross Profit 130.61% 139.45%
Research & Development $15.02M $15.09M
YoY Change 9.48% 15.22%
% of Gross Profit 109.6% 108.73%
Depreciation & Amortization $890.0K $652.0K
YoY Change 74.85% 18.12%
% of Gross Profit 6.49% 4.7%
Operating Expenses $32.92M $34.45M
YoY Change 1.49% 11.04%
Operating Profit -$19.21M -$20.57M
YoY Change -10.82% 3.28%
Interest Expense $3.426M -$112.0K
YoY Change 90.65% -106.6%
% of Operating Profit
Other Income/Expense, Net $18.70M $0.00
YoY Change -807.19% -100.0%
Pretax Income -$520.0K -$20.68M
YoY Change -97.85% 10.21%
Income Tax
% Of Pretax Income
Net Earnings -$516.0K -$20.68M
YoY Change -97.87% 10.21%
Net Earnings / Revenue -3.42% -136.19%
Basic Earnings Per Share -$0.01 -$0.26
Diluted Earnings Per Share -$0.25 -$0.27
COMMON SHARES
Basic Shares Outstanding 79.38M 77.52M
Diluted Shares Outstanding 85.14M 78.05M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $110.6M $66.61M
YoY Change -8.56% -50.49%
Cash & Equivalents $110.6M $66.61M
Short-Term Investments
Other Short-Term Assets $4.900M $4.593M
YoY Change 47.68% 20.84%
Inventory $2.257M $2.204M
Prepaid Expenses
Receivables $23.59M $27.31M
Other Receivables $0.00 $0.00
Total Short-Term Assets $141.3M $100.7M
YoY Change -2.99% -37.18%
LONG-TERM ASSETS
Property, Plant & Equipment $12.49M $20.08M
YoY Change 73.62% 200.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.800M $1.764M
YoY Change 2.04% 0.0%
Total Long-Term Assets $21.13M $21.85M
YoY Change 62.96% 71.35%
TOTAL ASSETS
Total Short-Term Assets $141.3M $100.7M
Total Long-Term Assets $21.13M $21.85M
Total Assets $162.4M $122.6M
YoY Change 2.4% -29.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.984M $3.572M
YoY Change -24.94% -3.54%
Accrued Expenses $28.89M $26.31M
YoY Change 33.65% 35.28%
Deferred Revenue $317.0K $391.0K
YoY Change -47.43% -67.12%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.083M
YoY Change
Total Short-Term Liabilities $35.07M $32.36M
YoY Change 19.81% 23.91%
LONG-TERM LIABILITIES
Long-Term Debt $73.90M $53.28M
YoY Change 38.53% 1.12%
Other Long-Term Liabilities $106.0K $33.83M
YoY Change -99.64% 18.87%
Total Long-Term Liabilities $106.0K $87.11M
YoY Change -99.87% 7.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.07M $32.36M
Total Long-Term Liabilities $106.0K $87.11M
Total Liabilities $154.5M $119.5M
YoY Change 37.54% 11.38%
SHAREHOLDERS EQUITY
Retained Earnings -$668.4M -$667.8M
YoY Change 11.15% 15.72%
Common Stock $676.2M $670.9M
YoY Change 4.43% 4.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.853M $3.087M
YoY Change
Total Liabilities & Shareholders Equity $162.4M $122.6M
YoY Change 2.4% -29.19%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$516.0K -$20.68M
YoY Change -97.87% 10.21%
Depreciation, Depletion And Amortization $890.0K $652.0K
YoY Change 74.85% 18.12%
Cash From Operating Activities -$7.730M -$20.08M
YoY Change -41.3% 84.58%
INVESTING ACTIVITIES
Capital Expenditures $260.0K $1.990M
YoY Change -132.75% -502.02%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$260.0K -$1.990M
YoY Change -67.25% 302.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 51.94M 9.645M
YoY Change 13787.7% 1856.39%
NET CHANGE
Cash From Operating Activities -7.730M -20.08M
Cash From Investing Activities -260.0K -1.990M
Cash From Financing Activities 51.94M 9.645M
Net Change In Cash 43.95M -12.42M
YoY Change -423.42% 14.18%
FREE CASH FLOW
Cash From Operating Activities -$7.730M -$20.08M
Capital Expenditures $260.0K $1.990M
Free Cash Flow -$7.990M -$22.07M
YoY Change -35.43% 112.55%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 24.45pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.13;text-align:justify;text-indent:18pt;margin:6pt 0pt 12pt 0pt;">The preparation of these unaudited condensed consolidated 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 these unaudited condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant estimates and assumptions reflected in these unaudited condensed consolidated financial statements include, but are not limited to, the measurement and recognition of reserves for variable consideration related to product sales, revenue recognition related to a collaboration agreement that contains multiple promises, the fair value of derivatives, stock-based compensation, and realizability of net deferred tax assets. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Actual results could differ from the Company’s estimates.</p>
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