2023 Q2 Form 10-Q Financial Statement

#000165130823000068 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $595.3M $447.8M $2.698B
YoY Change 74.27% 46.04% 98.0%
Cost Of Revenue $95.99M $81.79M $501.9M
YoY Change 34.87% 25.37% 52.43%
Gross Profit $499.3M $366.0M $2.196B
YoY Change 84.64% 51.63% 112.52%
Gross Profit Margin 83.87% 81.74% 81.39%
Selling, General & Admin $395.0M $328.5M $2.367B
YoY Change 19.2% 11.52% 7.91%
% of Gross Profit 79.12% 89.75% 107.81%
Research & Development $422.8M $408.6M $3.135B
YoY Change 11.78% 4.79% 10.96%
% of Gross Profit 84.68% 111.63% 142.76%
Depreciation & Amortization $21.31M $20.01M
YoY Change 47.34% 20.55%
% of Gross Profit 4.27% 5.47%
Operating Expenses $817.8M $737.1M $5.519B
YoY Change 15.25% 7.68% 6.59%
Operating Profit -$318.7M -$371.3M -$3.323B
YoY Change -27.47% -16.25% -19.82%
Interest Expense -$406.4M $102.6M $246.5M
YoY Change -50.21% 373.18% -307.01%
% of Operating Profit
Other Income/Expense, Net -$63.82M $18.30M -$1.219M
YoY Change -50.76% 52.95% -524.74%
Pretax Income -$367.5M -$336.9M -$3.078B
YoY Change -34.1% -20.01% -27.82%
Income Tax $13.67M $11.49M $130.8M
% Of Pretax Income
Net Earnings -$381.1M -$348.4M -$3.208B
YoY Change -33.3% -19.77% -24.46%
Net Earnings / Revenue -64.03% -77.81% -118.93%
Basic Earnings Per Share -$0.28 -$0.26
Diluted Earnings Per Share -$0.28 -$0.26 -$2.38
COMMON SHARES
Basic Shares Outstanding 1.363B shares 1.356B shares 1.350B shares
Diluted Shares Outstanding 1.360B shares 1.354B shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.77B $24.32B $26.79B
YoY Change -10.91% 289.43% 304.86%
Cash & Equivalents $3.410B $3.539B $3.870B
Short-Term Investments $6.126B $6.499B $6.659B
Other Short-Term Assets $2.615B $3.875B $6.136B
YoY Change -77.7% -72.35% 22575.15%
Inventory $321.3M $297.0M $282.3M
Prepaid Expenses
Receivables $299.3M $309.6M $173.2M
Other Receivables $253.9M $62.13M $89.94M
Total Short-Term Assets $4.401B $4.704B $5.207B
YoY Change -30.64% -32.29% -31.61%
LONG-TERM ASSETS
Property, Plant & Equipment $1.032B $925.4M $845.9M
YoY Change 63.0% 48.14% 43.97%
Goodwill $109.0K $109.0K $109.0K
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $30.02M $32.37M $27.71M
YoY Change 10.77% 44.26% 20.71%
Other Assets $147.5M $173.4M $170.4M
YoY Change 12.67% 5.36% 4.52%
Total Long-Term Assets $1.327B $1.252B $1.172B
YoY Change 28.57% 16.7% 13.58%
TOTAL ASSETS
Total Short-Term Assets $4.401B $4.704B $5.207B
Total Long-Term Assets $1.327B $1.252B $1.172B
Total Assets $5.729B $5.957B $6.379B
YoY Change -22.36% -25.74% -26.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $267.0M $241.4M $294.8M
YoY Change 13.92% 1.88% 12.34%
Accrued Expenses $455.0M $417.9M $467.4M
YoY Change 0.17% 8.28% -16.25%
Deferred Revenue $159.0M $185.5M $213.9M
YoY Change -2.67% 13.33% 14.11%
Short-Term Debt $2.908B $1.834B $2.203B
YoY Change 20.64% -25.84% -15.99%
Long-Term Debt Due 3.053B cnies 1.935B cnies 2.269B cnies
YoY Change 19.72% -25.06% -16.73%
Total Short-Term Liabilities $1.405B $1.255B $1.469B
YoY Change 0.48% -8.85% -8.19%
LONG-TERM LIABILITIES
Long-Term Debt 1.504B cnies 1.417B cnies 1.443B cnies
YoY Change 21.25% 10.86% 12.0%
Other Long-Term Liabilities $43.12M $45.62M $46.10M
YoY Change -10.97% -11.98% -15.01%
Total Long-Term Liabilities $525.1M $544.9M $527.4M
YoY Change -22.47% -28.26% -34.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.405B $1.255B $1.469B
Total Long-Term Liabilities $525.1M $544.9M $527.4M
Total Liabilities $1.930B $1.799B $1.996B
YoY Change -7.01% -15.75% -16.94%
SHAREHOLDERS EQUITY
Retained Earnings -$7.810B -$7.429B -$7.080B
YoY Change 30.78% 37.56% 42.57%
Common Stock $137.0K $136.0K $135.0K
YoY Change 2.24% 2.26% 1.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.799B $4.157B $4.383B
YoY Change
Total Liabilities & Shareholders Equity $5.729B $5.957B $6.379B
YoY Change -22.36% -25.74% -26.22%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income -$381.1M -$348.4M -$3.208B
YoY Change -33.3% -19.77% -24.46%
Depreciation, Depletion And Amortization $21.31M $20.01M
YoY Change 47.34% 20.55%
Cash From Operating Activities -$1.526B -$563.8M -$1.341B
YoY Change 10.88% 138.32% -56.88%
INVESTING ACTIVITIES
Capital Expenditures $1.006B $125.6M $861.3M
YoY Change -316.47% 178.27% -169.45%
Acquisitions
YoY Change
Other Investing Activities $2.113B $9.250M -$3.814B
YoY Change -57.86% -99.55% -1747.16%
Cash From Investing Activities $1.107B $241.1M -$4.675B
YoY Change -75.67% 14.58% 363.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.457M
YoY Change
Cash From Financing Activities 1.098B -$19.87M -891.3M
YoY Change -827.69% 76.34% -104.15%
NET CHANGE
Cash From Operating Activities -1.526B -$563.8M -1.341B
Cash From Investing Activities 1.107B $241.1M -4.675B
Cash From Financing Activities 1.098B -$19.87M -891.3M
Net Change In Cash 678.5M -$331.3M -6.908B
YoY Change -77.55% 1064.93% -139.83%
FREE CASH FLOW
Cash From Operating Activities -$1.526B -$563.8M -$1.341B
Capital Expenditures $1.006B $125.6M $861.3M
Free Cash Flow -$2.532B -$689.4M -$2.202B
YoY Change 177.82% 144.72% 17.82%

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CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
75322000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
65555000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-169000 usd
CY2023Q1 bgne Amortization Of Research And Development Financing Liability
AmortizationOfResearchAndDevelopmentFinancingLiability
-17398000 usd
CY2022Q1 bgne Amortization Of Research And Development Financing Liability
AmortizationOfResearchAndDevelopmentFinancingLiability
-21819000 usd
CY2023Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
36000 usd
CY2022Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
50000 usd
CY2023Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
575000 usd
CY2022Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
3544000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
136487000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-292554000 usd
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
13027000 usd
CY2022Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3002000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
50408000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
16942000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-22589000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-35024000 usd
CY2023Q1 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-38681000 usd
CY2022Q1 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-78750000 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-33066000 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-39676000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
197000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1429000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-563777000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-236563000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
125585000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
45131000 usd
CY2023Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
1064000 usd
CY2022Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
504000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
376962000 usd
CY2022Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
331028000 usd
CY2023Q1 bgne Payments To Purchase In Process Research And Development
PaymentsToPurchaseInProcessResearchAndDevelopment
0 usd
CY2022Q1 bgne Payments To Purchase In Process Research And Development
PaymentsToPurchaseInProcessResearchAndDevelopment
75000000 usd
CY2023Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
9250000 usd
CY2022Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
241063000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
210393000 usd
CY2023Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1457000 usd
CY2022Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 usd
CY2023Q1 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
0 usd
CY2022Q1 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
50000000 usd
CY2023Q1 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
50000000 usd
CY2022Q1 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
73147000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
31589000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
11880000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-19868000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-11267000 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11311000 usd
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9000000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-331271000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-28437000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3875037000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4382887000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3543766000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4354450000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3538644000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4347162000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
159000 usd
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
330000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
4963000 usd
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
6958000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
7616000 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
736000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
5017000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
6617000 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
64013000 usd
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
62736000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
4383355000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
28657000 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
75322000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
18403000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-348431000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
4157306000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
6132563000 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
0 usd
CY2022Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
11880000 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
65555000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-496000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-435198000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
5774152000 usd
CY2023Q1 bgne Number Of Persons
NumberOfPersons
2700 people
CY2023Q1 bgne Product Candidate
ProductCandidate
3 product
CY2023Q1 dei Entity Number Of Employees
EntityNumberOfEmployees
9400 employee
CY2023Q1 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
30 country
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of estimates</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Areas where management uses subjective judgment include, but are not limited to, estimating the useful lives of long-lived assets, estimating variable consideration in product sales and collaboration revenue arrangements, identifying separate accounting units and determining the standalone selling price of each performance obligation in the Company’s revenue arrangements, assessing the impairment of long-lived assets, valuation and recognition of share-based compensation expenses, realizability of deferred tax assets, estimating uncertain tax positions, valuation of inventory, estimating the allowance for credit losses, determining defined benefit pension plan obligations, measurement of right-of-use assets and lease liabilities and the fair value of financial instruments. Management bases the estimates on historical experience, known trends and various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities and reported amounts of revenues and expenses. Actual results could differ from these estimates.</span></div>
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revision of prior period financial statements </span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company evaluates the recoverability of its deferred tax assets on a jurisdiction-by-jurisdiction basis by assessing the adequacy of future expected taxable income from all sources, including reversal of temporary differences, forecasted operating earnings and available tax planning strategies in accordance with ASC 740. This assessment is subject to a high degree of subjectivity, as the sources of income rely heavily on estimates that are based on a number of factors, including historical experience and short-range and long-range business forecasts. A valuation allowance is provided when the Company determines that it is more-likely-than-not that some portion or all of a deferred tax asset will not be realized.</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Prior to the third quarter of 2022, the Company determined that the majority of its net deferred tax assets (primarily in the U.S.) were realizable on a more-likely-than-not basis, primarily due to cumulative pre-tax income at the taxpaying entity and the weighting of available positive and negative evidence. Accordingly, no valuation allowance was previously recorded related to those deferred tax assets. In October 2022, in connection with the preparation of its condensed consolidated financial statements for the three and nine months ended September 30, 2022, the Company reassessed its position on the realizability of its net deferred tax assets and determined that the negative evidence associated with cumulative losses at the consolidated financial statement level are not able to be overcome by other positive evidence, and therefore, a valuation allowance should be applied to its net deferred tax asset balance. The Company determined the previous conclusion to not apply a valuation allowance to certain net deferred tax assets was an error. </span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In accordance with Staff Accounting Bulletin (SAB) No. 99, “Materiality,” and SAB No. 108, “Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements,” the Company evaluated the error and determined that the related impact was not material to any of its previously issued financial statements, but that correcting the cumulative impact of the error would be significant to its statements of operations for the three and nine months ended September 30, 2022. Accordingly, the Company has revised the first quarter of 2022 condensed consolidated financial statements and related notes included herein to record a valuation allowance against the Company’s net deferred tax asset balance for all periods presented. A summary of revisions to previously reported financial statements is presented in Note 2, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Revision of Prior Period Financial Statements.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> Note 9, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Income Taxes</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> and Note 13, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Loss Per Share</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> have been updated to reflect the revision. The Company will also correct previously reported financial information for this error in its future filings, as applicable.</span></div>
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13949000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-435198000 usd
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.33
CY2022Q1 bgne Earnings Per American Depository Share Diluted
EarningsPerAmericanDepositoryShareDiluted
-4.25
CY2022Q1 bgne Earnings Per American Depository Share Basic
EarningsPerAmericanDepositoryShareBasic
-4.25
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-435198000 usd
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-435694000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-435198000 usd
CY2022Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
50000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
16942000 usd
CY2022Q1 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-78750000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1429000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-236563000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
6132563000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-435198000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
5774152000 usd
CY2022Q1 bgne Number Of Products Initiated Marketing And Promotion
NumberOfProductsInitiatedMarketingAndPromotion
5 product
CY2023Q1 bgne Reimbursement Expense
ReimbursementExpense
11583000 usd
CY2022Q1 bgne Reimbursement Expense
ReimbursementExpense
11711000 usd
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
5122000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
5473000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
298012000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
3955000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Current
DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent
294057000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
674262000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
9011000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Current
DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent
665251000 usd
CY2023Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
59673000 usd
CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
57054000 usd
CY2023Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueUpwardPriceAdjustmentAnnualAmount
1081000 usd
CY2022Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueUpwardPriceAdjustmentAnnualAmount
336000 usd
CY2023Q1 us-gaap Equity Method Investments
EquityMethodInvestments
32368000 usd
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
27710000 usd
CY2023Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
108655000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
88957000 usd
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
24582000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
20886000 usd
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
163758000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
172503000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
296995000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
282346000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
739603000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
723789000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
191097000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
171470000 usd
CY2023Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
376898000 usd
CY2022Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
293627000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
925404000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
845946000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
19025000 usd
CY2022Q1 us-gaap Depreciation
Depreciation
15580000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
49664000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
9929000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
39735000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
49551000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8935000 usd
CY2022Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
5528000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
40616000 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
986000 usd
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1020000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2945000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3928000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3928000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3928000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3678000 usd
CY2023Q1 bgne Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
21328000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
39735000 usd
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 usd
CY2023Q1 bgne Accounts Receivable Allowance For Credit Loss Exchange Rate Changes
AccountsReceivableAllowanceForCreditLossExchangeRateChanges
0 usd
CY2022Q1 bgne Accounts Receivable Allowance For Credit Loss Exchange Rate Changes
AccountsReceivableAllowanceForCreditLossExchangeRateChanges
19000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11492000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13949000 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
11965000 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
410000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
211000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
415000 usd
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
222000 usd
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-241000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
433000 usd
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
193000 usd
CY2023Q1 bgne Prepaid Research And Development Costs
PrepaidResearchAndDevelopmentCosts
76403000 usd
CY2022Q4 bgne Prepaid Research And Development Costs
PrepaidResearchAndDevelopmentCosts
71488000 usd
CY2023Q1 bgne Prepaid Manufacturing Costs
PrepaidManufacturingCosts
62571000 usd
CY2022Q4 bgne Prepaid Manufacturing Costs
PrepaidManufacturingCosts
58950000 usd
CY2023Q1 us-gaap Prepaid Taxes
PrepaidTaxes
20402000 usd
CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
20478000 usd
CY2023Q1 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
21195000 usd
CY2022Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
22777000 usd
CY2023Q1 us-gaap Interest Receivable Current
InterestReceivableCurrent
1335000 usd
CY2022Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
3039000 usd
CY2023Q1 us-gaap Prepaid Insurance
PrepaidInsurance
5719000 usd
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
3664000 usd
CY2023Q1 bgne Short Term Deposits
ShortTermDeposits
34837000 usd
CY2022Q4 bgne Short Term Deposits
ShortTermDeposits
1510000 usd
CY2023Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
42373000 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
34647000 usd
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
264835000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
216553000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
109000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
109000 usd
CY2023Q1 bgne Prepayment Of Long Term Asset
PrepaymentOfLongTermAsset
19165000 usd
CY2022Q4 bgne Prepayment Of Long Term Asset
PrepaymentOfLongTermAsset
22025000 usd
CY2023Q1 bgne Prepaid Supply Cost
PrepaidSupplyCost
47763000 usd
CY2022Q4 bgne Prepaid Supply Cost
PrepaidSupplyCost
48642000 usd
CY2023Q1 us-gaap Value Added Tax Receivable Noncurrent
ValueAddedTaxReceivableNoncurrent
1428000 usd
CY2022Q4 us-gaap Value Added Tax Receivable Noncurrent
ValueAddedTaxReceivableNoncurrent
804000 usd
CY2023Q1 bgne Rental Deposits And Other
RentalDepositsAndOther
6954000 usd
CY2022Q4 bgne Rental Deposits And Other
RentalDepositsAndOther
7054000 usd
CY2023Q1 us-gaap Long Term Investments
LongTermInvestments
97947000 usd
CY2022Q4 us-gaap Long Term Investments
LongTermInvestments
91779000 usd
CY2023Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
173366000 usd
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
170413000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
87950000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
184775000 usd
CY2023Q1 bgne Accrued Liabilities External Research And Development
AccruedLiabilitiesExternalResearchAndDevelopment
143137000 usd
CY2022Q4 bgne Accrued Liabilities External Research And Development
AccruedLiabilitiesExternalResearchAndDevelopment
139168000 usd
CY2023Q1 bgne Accrued Expenses Commercial Activities
AccruedExpensesCommercialActivities
48465000 usd
CY2022Q4 bgne Accrued Expenses Commercial Activities
AccruedExpensesCommercialActivities
51806000 usd
CY2023Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
28040000 usd
CY2022Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
18815000 usd
CY2023Q1 bgne Accrued Sales Rebates And Returns Current
AccruedSalesRebatesAndReturnsCurrent
78732000 usd
CY2022Q4 bgne Accrued Sales Rebates And Returns Current
AccruedSalesRebatesAndReturnsCurrent
41817000 usd
CY2023Q1 bgne Accrued Professional Fees And Other Current
AccruedProfessionalFeesAndOtherCurrent
31598000 usd
CY2022Q4 bgne Accrued Professional Fees And Other Current
AccruedProfessionalFeesAndOtherCurrent
30971000 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
417922000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
467352000 usd
CY2023Q1 bgne Government Grants Or Incentives Received And Deferred Noncurrent
GovernmentGrantsOrIncentivesReceivedAndDeferredNoncurrent
37576000 usd
CY2022Q4 bgne Government Grants Or Incentives Received And Deferred Noncurrent
GovernmentGrantsOrIncentivesReceivedAndDeferredNoncurrent
38176000 usd
CY2023Q1 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
7851000 usd
CY2022Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
7760000 usd
CY2023Q1 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
192000 usd
CY2022Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
159000 usd
CY2023Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
45619000 usd
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
46095000 usd
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
281808000 usd
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
1935363000 cny
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
328969000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
2268905000 cny
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
206298000 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1416786000 cny
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
209148000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1442500000 cny
CY2023Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
4574000 usd
CY2023Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
344000 usd
CY2022Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1281000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-348431000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-435198000 usd
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1354164760 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1354164760 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1332017262 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1332017262 shares
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
75388000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
65555000 usd
CY2023Q1 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
76097000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
18403000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
18403000 usd
CY2023Q1 bgne Restricted Net Assets Minimum Required Statutory Reserve Of Annual After Tax Profit Percentage
RestrictedNetAssetsMinimumRequiredStatutoryReserveOfAnnualAfterTaxProfitPercentage
0.10
CY2023Q1 bgne Restricted Net Assets Required Statutory Reserve As Percentage Of Registered Capital
RestrictedNetAssetsRequiredStatutoryReserveAsPercentageOfRegisteredCapital
0.50
CY2023Q1 bgne Restricted Net Assets Minimum Required Statutory Reserve Of Annual After Tax Profit Percentage
RestrictedNetAssetsMinimumRequiredStatutoryReserveOfAnnualAfterTaxProfitPercentage
0.10
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
447801000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
306626000 usd

Files In Submission

Name View Source Status
bgne-20230331_lab.xml Edgar Link unprocessable
bgne-20230331_cal.xml Edgar Link unprocessable
0001651308-23-000068-index-headers.html Edgar Link pending
0001651308-23-000068-index.html Edgar Link pending
0001651308-23-000068.txt Edgar Link pending
0001651308-23-000068-xbrl.zip Edgar Link pending
bgne-20230331.htm Edgar Link pending
bgne-20230331.xsd Edgar Link pending
bgne-20230331_g1.jpg Edgar Link pending
exhibit101-secondamendment.htm Edgar Link pending
exhibit103-amendmentno2tor.htm Edgar Link pending
exhibit311-2023q1.htm Edgar Link pending
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