$ONVO
ORGANOVO HOLDINGS, INC.

2015 Q3 Form 10-Q Financial Statement

#000156459015010138 Filed on November 09, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2015 Q1
Revenue $301.0K $306.0K $267.0K
YoY Change 502.0% 209.09% 122.5%
Cost Of Revenue $0.00
YoY Change
Gross Profit $306.0K
YoY Change
Gross Profit Margin 100.0%
Selling, General & Admin $6.850M $4.622M $4.600M
YoY Change 18.57% 25.09% 8.24%
% of Gross Profit 1510.46%
Research & Development $4.740M $4.142M $3.640M
YoY Change 46.79% 47.19% 42.75%
% of Gross Profit 1353.59%
Depreciation & Amortization $180.0K $135.0K $140.0K
YoY Change 63.64% 40.63% 40.0%
% of Gross Profit 44.12%
Operating Expenses $11.59M $8.764M $8.240M
YoY Change 28.69% 34.64% 21.18%
Operating Profit -$11.28M -$8.458M
YoY Change 25.99% 31.95%
Interest Expense $30.00K $3.000K $180.0K
YoY Change -70.0% 1284.62%
% of Operating Profit
Other Income/Expense, Net $27.00K -$33.00K
YoY Change -72.45% 43.48%
Pretax Income -$11.26M -$8.490M -$7.800M
YoY Change 27.09% 32.04% 20.37%
Income Tax $0.00 $3.000K
% Of Pretax Income
Net Earnings -$11.26M -$8.491M -$7.798M
YoY Change 27.08% 31.99% 20.34%
Net Earnings / Revenue -3739.87% -2774.84% -2920.6%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.437M -$1.887M -$1.926M
COMMON SHARES
Basic Shares Outstanding 80.46M
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2015 Q2 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.86M $86.00M $50.14M
YoY Change 41.31% 91.54% 4.09%
Cash & Equivalents $76.86M $86.00M $50.14M
Short-Term Investments
Other Short-Term Assets $710.0K $800.0K $1.050M
YoY Change 14.52% 12.68% 12.9%
Inventory $70.00K $70.00K $66.00K
Prepaid Expenses
Receivables $180.0K $130.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $77.83M $87.00M $51.26M
YoY Change 41.24% 90.21% 4.27%
LONG-TERM ASSETS
Property, Plant & Equipment $3.630M $3.380M $2.042M
YoY Change 185.15% 237.66% 138.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $220.0K $190.0K $106.0K
YoY Change 158.82% 115.91% 19.1%
Total Long-Term Assets $3.850M $3.560M $2.227M
YoY Change 167.92% 204.79% 117.27%
TOTAL ASSETS
Total Short-Term Assets $77.83M $87.00M $51.26M
Total Long-Term Assets $3.850M $3.560M $2.227M
Total Assets $81.68M $90.56M $53.49M
YoY Change 44.46% 93.06% 6.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $570.0K $1.030M $1.387M
YoY Change 7.55% 22.77% 325.46%
Accrued Expenses $3.530M $2.730M $2.257M
YoY Change 126.43% 56.99% 174.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $30.00K $130.0K
YoY Change -65.79%
Long-Term Debt Due $0.00 $0.00 $10.00K
YoY Change -100.0% -100.0% 0.0%
Total Short-Term Liabilities $5.520M $5.230M $4.761M
YoY Change 77.38% 69.53% 151.51%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $10.00K $20.00K $30.00K
YoY Change
Total Long-Term Liabilities $10.00K $20.00K $30.00K
YoY Change 200.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.520M $5.230M $4.761M
Total Long-Term Liabilities $10.00K $20.00K $30.00K
Total Liabilities $5.525M $5.240M $4.793M
YoY Change 77.42% 69.58% 152.0%
SHAREHOLDERS EQUITY
Retained Earnings -$142.0M -$122.3M
YoY Change
Common Stock $218.2M $171.0M
YoY Change 272642.5% 21.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $76.15M $85.32M $48.70M
YoY Change
Total Liabilities & Shareholders Equity $81.68M $90.56M $53.49M
YoY Change 44.46% 93.06% 6.58%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2015 Q1
OPERATING ACTIVITIES
Net Income -$11.26M -$8.491M -$7.798M
YoY Change 27.08% 31.99% 20.34%
Depreciation, Depletion And Amortization $180.0K $135.0K $140.0K
YoY Change 63.64% 40.63% 40.0%
Cash From Operating Activities -$8.620M -$6.300M -$5.610M
YoY Change 36.61% -285.29% 3.89%
INVESTING ACTIVITIES
Capital Expenditures -$450.0K $1.135M -$650.0K
YoY Change 32.35% 376.89% 441.67%
Acquisitions
YoY Change
Other Investing Activities $10.00K $0.00
YoY Change
Cash From Investing Activities -$430.0K -$1.140M -$650.0K
YoY Change 26.47% 375.0% 441.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $46.10M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -80.00K 43.29M 6.370M
YoY Change -100.5% 13018.18% 64.6%
NET CHANGE
Cash From Operating Activities -8.620M -6.300M -5.610M
Cash From Investing Activities -430.0K -1.140M -650.0K
Cash From Financing Activities -80.00K 43.29M 6.370M
Net Change In Cash -9.130M 35.85M 110.0K
YoY Change -196.11% 954.41% -106.67%
FREE CASH FLOW
Cash From Operating Activities -$8.620M -$6.300M -$5.610M
Capital Expenditures -$450.0K $1.135M -$650.0K
Free Cash Flow -$8.170M -$7.435M -$4.960M
YoY Change 36.85% -335.14% -6.06%

Facts In Submission

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5.21
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.13
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
6.28
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.94
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.91
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.21
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
4969499
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
64477
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3319866
CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2715019
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y2M9D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y2M9D
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7426
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7630
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7425
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.771
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0148
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0166
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0160
CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2014Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1145000
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1041000
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1072000
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
1572000
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
6564000
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.39
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.16
CY2015Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
17200000
CY2013Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
75000
CY2013Q4 onvo Class Of Warrant Or Right Life
ClassOfWarrantOrRightLife
P5Y
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.9690
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0060
CY2015Q3 onvo Warrant Or Right Expense Or Revenue Recognized
WarrantOrRightExpenseOrRevenueRecognized
101000
onvo Warrant Or Right Expense Or Revenue Recognized
WarrantOrRightExpenseOrRevenueRecognized
202000
onvo Common Stock Warrants Issued
CommonStockWarrantsIssued
50000
CY2014Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
145000
CY2014Q4 onvo Class Of Warrant Or Right Life
ClassOfWarrantOrRightLife
P5Y
CY2014Q4 onvo Warrant Earning Period Through Issuance Of Common Stock
WarrantEarningPeriodThroughIssuanceOfCommonStock
P17M
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7678
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0137
CY2015Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
17215227
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000
CY2015Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
onvo Leasehold Improvements Funded By Lease Incentive
LeaseholdImprovementsFundedByLeaseIncentive
518000
CY2014Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
235000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
549000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
470000
onvo Operating Leases Monthly Base Rent Expense
OperatingLeasesMonthlyBaseRentExpense
38800
onvo Lease Term With Option To Extend
LeaseTermWithOptionToExtend
P48M
CY2013Q4 onvo Increased Office Space Headquarters
IncreasedOfficeSpaceHeadquarters
15268
CY2013Q4 onvo Additional Leased Office Space
AdditionalLeasedOfficeSpace
15539
CY2013Q4 onvo Office Space Area Under Lease Agreement
OfficeSpaceAreaUnderLeaseAgreement
30807
CY2013Q4 onvo Operating Leases Monthly Base Rent Expense
OperatingLeasesMonthlyBaseRentExpense
38800
CY2013Q4 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2016-08-01
CY2013Q4 onvo Operating Leases Monthly Rent Expense
OperatingLeasesMonthlyRentExpense
38934
CY2013Q4 us-gaap Operating Leases Of Lessee Contingent Rentals Basis Spread On Variable Rate
OperatingLeasesOfLesseeContingentRentalsBasisSpreadOnVariableRate
0.03
CY2013Q4 onvo Additional Office Space
AdditionalOfficeSpace
14500
onvo Lease Amendment Effective Date
LeaseAmendmentEffectiveDate
2014-09-01
CY2015Q1 onvo Increased Office Space Headquarters
IncreasedOfficeSpaceHeadquarters
335
CY2015Q1 onvo Increase Of Net Adjustment Leased Space
IncreaseOfNetAdjustmentLeasedSpace
88
CY2015Q1 onvo Additional Leased Office Space
AdditionalLeasedOfficeSpace
5803
CY2015Q1 us-gaap Lessee Leasing Arrangements Operating Leases Term Of Contract
LesseeLeasingArrangementsOperatingLeasesTermOfContract
P36M
CY2015Q1 onvo Lease Rental Period Start Date
LeaseRentalPeriodStartDate
2015-02-01
CY2015Q1 onvo Lease Rental Period End Date
LeaseRentalPeriodEndDate
2018-01-31
CY2015Q1 onvo Operating Leases Monthly Base Rent Expense
OperatingLeasesMonthlyBaseRentExpense
12000
CY2015Q1 us-gaap Operating Leases Of Lessee Contingent Rentals Basis Spread On Variable Rate
OperatingLeasesOfLesseeContingentRentalsBasisSpreadOnVariableRate
0.030
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
577000
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1157000

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