$OMIC
Singular Genomics Systems, Inc.

2021 Q3 Form 10-Q Financial Statement

#000095017021000664 Filed on August 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.551M $6.201M $1.443M
YoY Change 403.59% 329.73%
% of Gross Profit
Research & Development $8.910M $7.682M $5.325M
YoY Change 46.55% 44.26%
% of Gross Profit
Depreciation & Amortization $303.0K $256.0K $140.0K
YoY Change 77.19% 82.86%
% of Gross Profit
Operating Expenses $17.46M $13.88M $6.768M
YoY Change 124.49% 105.13%
Operating Profit -$17.46M -$13.88M -$6.768M
YoY Change 124.49% 105.13%
Interest Expense $234.0K $232.0K $235.0K
YoY Change 15.84% -1.28%
% of Operating Profit
Other Income/Expense, Net -$7.000K $22.00K $0.00
YoY Change -135.0%
Pretax Income -$17.61M -$37.48M -$6.847M
YoY Change 122.0% 447.38%
Income Tax
% Of Pretax Income
Net Earnings -$17.61M -$37.48M -$6.847M
YoY Change 122.0% 447.38%
Net Earnings / Revenue
Basic Earnings Per Share -$0.25
Diluted Earnings Per Share -$245.5K -$524.0K -$98.69K
COMMON SHARES
Basic Shares Outstanding 71.56M
Diluted Shares Outstanding 71.72M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $357.0M $371.7M
YoY Change
Cash & Equivalents $239.3M $257.3M $11.61M
Short-Term Investments $117.8M $114.4M
Other Short-Term Assets $7.214M $7.201M
YoY Change
Inventory
Prepaid Expenses $7.214M $7.201M
Receivables
Other Receivables
Total Short-Term Assets $364.2M $378.9M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $4.917M $3.434M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.000M $990.0K
YoY Change
Total Long-Term Assets $6.604M $5.111M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $364.2M $378.9M
Total Long-Term Assets $6.604M $5.111M
Total Assets $370.8M $384.0M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.390M $2.698M
YoY Change
Accrued Expenses $3.443M $1.809M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $3.473M
YoY Change
Total Short-Term Liabilities $5.991M $8.152M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $9.868M $6.082M
YoY Change
Other Long-Term Liabilities $2.904M $3.168M
YoY Change
Total Long-Term Liabilities $12.77M $9.250M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.991M $8.152M
Total Long-Term Liabilities $12.77M $9.250M
Total Liabilities $18.76M $17.40M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$132.1M -$114.5M
YoY Change
Common Stock $7.000K $7.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $352.1M $366.6M -$36.28M
YoY Change
Total Liabilities & Shareholders Equity $370.8M $384.0M
YoY Change

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$17.61M -$37.48M -$6.847M
YoY Change 122.0% 447.38%
Depreciation, Depletion And Amortization $303.0K $256.0K $140.0K
YoY Change 77.19% 82.86%
Cash From Operating Activities -$10.98M -$15.84M -$6.512M
YoY Change 64.68% 143.18%
INVESTING ACTIVITIES
Capital Expenditures -$1.621M -$963.0K -$159.0K
YoY Change 123.9% 505.66%
Acquisitions
YoY Change
Other Investing Activities -$4.088M -$10.40M $7.562M
YoY Change -156.22% -237.58%
Cash From Investing Activities -$5.709M -$11.37M $7.403M
YoY Change -187.2% -253.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.320M 239.2M 0.000
YoY Change 5639.13%
NET CHANGE
Cash From Operating Activities -10.98M -15.84M -6.512M
Cash From Investing Activities -5.709M -11.37M 7.403M
Cash From Financing Activities -1.320M 239.2M 0.000
Net Change In Cash -18.00M 212.0M 891.0K
YoY Change 12669.5% 23688.44%
FREE CASH FLOW
Cash From Operating Activities -$10.98M -$15.84M -$6.512M
Capital Expenditures -$1.621M -$963.0K -$159.0K
Free Cash Flow -$9.355M -$14.87M -$6.353M
YoY Change 57.47% 134.11%

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us-gaap Concentration Risk Credit Risk
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<p style="text-indent:0.0pt;font-size:10.0pt;margin-top:16.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="color:rgba(0,0,0,1);font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">Concentration of Credit Risk</span></p><p style="text-indent:21.6pt;font-size:10.0pt;margin-top:5.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Financial </span><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">instruments, which potentially subject the Company to a concentration of credit risk, consist primarily of cash, cash equivalents and short-term investments. The Company maintains deposits in federally insured financial institutions in excess of</span><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:5.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">federally </span><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">insured limits. The Company has not experienced any losses in such accounts and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.</span></p>
us-gaap Asset Impairment Charges
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us-gaap Fair Value Adjustment Of Warrants
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2200000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
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CY2021Q2 us-gaap Property Plant And Equipment Gross
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5140000
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1234000
CY2021Q2 us-gaap Accrued Professional Fees Current
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18000
us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2023-09-01
omic Number Of Monthly Payments
NumberOfMonthlyPayments
24
us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0065
us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.0590
CY2020 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.0590
omic Debt Instrument Interest Rate Due On Maturity Date
DebtInstrumentInterestRateDueOnMaturityDate
0.0550
omic Percentage Of Outstanding Principal Balance Repaid Prior To First Anniversary
PercentageOfOutstandingPrincipalBalanceRepaidPriorToFirstAnniversary
0.03
omic Percentage Of Outstanding Principal Balance Repaid On Or After First Anniversary
PercentageOfOutstandingPrincipalBalanceRepaidOnOrAfterFirstAnniversary
0.02
omic Percentage Of Outstanding Principal Balance Repaid On Or After Second Anniversary
PercentageOfOutstandingPrincipalBalanceRepaidOnOrAfterSecondAnniversary
0.01
omic Percentage Of Line Fee Payable To Svb Related To Undrawn Portion Of Borrowing Capacity
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0.01
CY2021Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
500000
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
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CY2021Q2 us-gaap Debt Instrument Carrying Amount
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10000000
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CY2021Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
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CY2020Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
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CY2021Q2 us-gaap Long Term Debt Noncurrent
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6082000
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
8469000
CY2021Q2 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
38826388
omic Future Minimum Payments Under Oustanding Draw Down
FutureMinimumPaymentsUnderOustandingDrawDown
10000.0
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1544000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
5386000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4393000
CY2021Q2 omic Long Term Debt Maturities Repayments Of Principal Including Interest Payments
LongTermDebtMaturitiesRepaymentsOfPrincipalIncludingInterestPayments
11323000
CY2021Q2 omic Interest Payments
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CY2021Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
10000000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
800000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
300000
CY2021Q2 omic Lessee Operating Lease Liability Payments Due Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsDueRemainderOfFiscalYear
1166000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6265000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
7892000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6394000
CY2021Q2 omic Lessee Operating Lease Liability Payments Due Year Four And Thereafter
LesseeOperatingLeaseLiabilityPaymentsDueYearFourAndThereafter
42122000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
63839000
CY2021Q2 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
39020122
us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
38826388
CY2021Q2 omic Temporary Equity Share Issued
TemporaryEquityShareIssued
38826388
CY2021Q2 omic Aggregate Liquidation Preference
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69500000
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
13387621
CY2021Q2 omic Fair Value Of Preferred Stock Warrants
FairValueOfPreferredStockWarrants
2600000
CY2021Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
129156
CY2021Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
2.3228
CY2021Q2 omic Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right Exercised
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRightExercised
117088
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7274953
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.57
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y9M21D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
7274953
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.57
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y9M21D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2855700
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
8.62
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
5381217
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.65
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
70398
omic Share Based Compensation Arrangements By Share Based Payment Award Options Forfeited In Period Weighted Average Forfeiture Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeitedInPeriodWeightedAverageForfeiturePrice
3.43
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4679038
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.35
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y10M17D
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3335363
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.41
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
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CY2020Q4 omic Number Of Early Exercise Stock Option Remain Subject To Repurchase
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CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31628921
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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10382036
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2021Q2 omic Liability For Cash Received From Early Exercise Of Stock
LiabilityForCashReceivedFromEarlyExerciseOfStock
2200000
CY2020Q4 omic Liability For Cash Received From Early Exercise Of Stock
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CY2021Q2 omic Number Of Early Exercise Stock Option Remain Subject To Repurchase
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2958410
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2020Q2 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 Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0090
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0072
omic Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
0.0000
omic Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
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CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
-61400000
us-gaap Net Income Loss
NetIncomeLoss
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CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4746538
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
45971395

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