$ONVO
ORGANOVO HOLDINGS, INC.

2021 Q1 Form 10-K Financial Statement

#000156459021032980 Filed on June 15, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2021 2020 Q1
Revenue $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cost Of Revenue $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Gross Profit $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Gross Profit Margin
Selling, General & Admin $1.921M $12.90M $3.090M
YoY Change -37.83% -28.57% -7.49%
% of Gross Profit
Research & Development $655.0K $1.077M
YoY Change -78.67%
% of Gross Profit
Depreciation & Amortization $21.00K $41.00K $0.00
YoY Change -96.41% -100.0%
% of Gross Profit
Operating Expenses $2.598M $14.02M $2.960M
YoY Change -12.23% -22.38% -61.76%
Operating Profit -$2.598M -$14.02M -$2.960M
YoY Change -12.23% -13.27% -58.66%
Interest Expense $2.000K $15.00K $90.00K
YoY Change -97.78% -97.46% -50.0%
% of Operating Profit
Other Income/Expense, Net $0.00 $6.000K $80.00K
YoY Change -100.0% -99.61%
Pretax Income -$2.596M -$16.82M -$2.720M
YoY Change -4.56% -10.08% -61.03%
Income Tax $0.00 $2.000K $0.00
% Of Pretax Income
Net Earnings -$2.596M -$16.83M -$2.720M
YoY Change -4.56% -10.07% -61.03%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$339.2K -$2.438M -$416.5K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2021 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.36M $37.36M $27.36M
YoY Change 36.56% 36.56% -25.0%
Cash & Equivalents $37.36M $37.36M $27.36M
Short-Term Investments
Other Short-Term Assets $1.034M $1.034M $850.0K
YoY Change 21.65% 21.65% -19.05%
Inventory $0.00
Prepaid Expenses
Receivables $0.00 $0.00 $111.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $38.40M $38.40M $28.32M
YoY Change 35.6% 35.59% -26.59%
LONG-TERM ASSETS
Property, Plant & Equipment $381.0K $381.0K $0.00
YoY Change -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.027M $1.029M $123.0K
YoY Change 734.96% -10.87%
Total Long-Term Assets $1.519M $1.519M $123.0K
YoY Change 1134.96% 1165.83% -94.0%
TOTAL ASSETS
Total Short-Term Assets $38.40M $38.40M $28.32M
Total Long-Term Assets $1.519M $1.519M $123.0K
Total Assets $39.92M $39.92M $28.44M
YoY Change 40.35% 40.36% -29.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $281.0K $281.0K $720.0K
YoY Change -60.97% -60.97% 14.65%
Accrued Expenses $440.0K $440.0K $1.090M
YoY Change -59.63% -59.63% -57.24%
Deferred Revenue $0.00
YoY Change -100.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $721.0K $721.0K $1.810M
YoY Change -60.17% -60.17% -51.57%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $721.0K $721.0K $1.810M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $721.0K $721.0K $1.810M
YoY Change -60.17% -60.17% -58.15%
SHAREHOLDERS EQUITY
Retained Earnings -$296.3M -$279.5M
YoY Change 6.02% 7.18%
Common Stock $335.5M $306.1M
YoY Change 9.6% 3.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $39.20M $39.20M $26.63M
YoY Change
Total Liabilities & Shareholders Equity $39.92M $39.92M $28.44M
YoY Change 40.35% 40.36% -29.99%

Cashflow Statement

Concept 2021 Q1 2021 2020 Q1
OPERATING ACTIVITIES
Net Income -$2.596M -$16.83M -$2.720M
YoY Change -4.56% -10.07% -61.03%
Depreciation, Depletion And Amortization $21.00K $41.00K $0.00
YoY Change -96.41% -100.0%
Cash From Operating Activities -$2.113M -$13.32M -$3.210M
YoY Change -34.17% -10.48% -36.81%
INVESTING ACTIVITIES
Capital Expenditures -$115.0K $405.0K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $2.000K $12.00K $20.00K
YoY Change -90.0% -98.4%
Cash From Investing Activities -$113.0K -$393.0K $20.00K
YoY Change -665.0% -152.61% -140.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$23.80M
YoY Change 376.32%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 20.76M 23.84M 0.000
YoY Change 382.98% -100.0%
NET CHANGE
Cash From Operating Activities -2.113M -13.32M -3.210M
Cash From Investing Activities -113.0K -393.0K 20.00K
Cash From Financing Activities 20.76M 23.84M 0.000
Net Change In Cash 18.53M 10.12M -3.190M
YoY Change -680.85% -209.99% -368.07%
FREE CASH FLOW
Cash From Operating Activities -$2.113M -$13.32M -$3.210M
Capital Expenditures -$115.0K $405.0K $0.00
Free Cash Flow -$1.998M -$13.73M -$3.210M
YoY Change -37.76% -7.75% -36.31%

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of estimates </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Significant estimates used in preparing the consolidated financial statements include those assumed in revenue recognition, the valuation of stock-based compensation expense, and the valuation allowance on deferred tax assets. On an ongoing basis, management reviews these estimates and assumptions. Though the impact of the COVID-19 pandemic to the Company&#8217;s business and operating results presents additional uncertainty, the Company continues to use the best information available to inform its significant accounting estimates.</p>
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CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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0
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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P1Y2M4D
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2021Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2021 onvo Office Space Area Under Lease Agreement
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CY2021 onvo Operating Leases Monthly Rent Expense
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CY2021 onvo Lease Option Termination Description
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CY2020Q4 onvo Number Of Lease Agreement
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CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2020 onvo Effective Income Tax Rate Reconciliation Executive Compensation Amount
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2662000
CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
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CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Research And Development
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CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Research And Development
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CY2020 us-gaap Income Tax Reconciliation Other Adjustments
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-1552000
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 onvo Provision Benefit For Income Taxes
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0
CY2020 onvo Provision Benefit For Income Taxes
ProvisionBenefitForIncomeTaxes
0
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Defined Benefit Plan Administration Expenses
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CY2020 us-gaap Defined Benefit Plan Administration Expenses
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152000
CY2020 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
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52
CY2020 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
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CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
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CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2021 onvo Effective Income Tax Reconciliation Employee Compensation Percentage
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CY2020 onvo Effective Income Tax Reconciliation Employee Compensation Percentage
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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-0.158
CY2020 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.042
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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0.000
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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0
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0
CY2021Q1 us-gaap Deferred Tax Assets In Process Research And Development
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9000
CY2020Q1 us-gaap Deferred Tax Assets In Process Research And Development
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5000
CY2021Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
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86000
CY2020Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
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173000
CY2021Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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2433000
CY2020Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2021Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
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3000
CY2020Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
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CY2021Q1 us-gaap Deferred Tax Assets Gross
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CY2020Q1 us-gaap Deferred Tax Assets Gross
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2524000
CY2020Q1 us-gaap Deferred Tax Assets Valuation Allowance
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4078000
CY2021Q1 us-gaap Deferred Tax Assets Liabilities Net
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0
CY2020Q1 us-gaap Deferred Tax Assets Liabilities Net
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0
CY2021Q1 us-gaap Unrecognized Tax Benefits
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CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2021Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
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CY2021Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
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40400000
CY2020 onvo Federal Net Operating Loss Carry Forwards Expiration Year Start
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2028
CY2020 onvo State Net Operating Loss Carry Forwards Expiration Year Start
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2028
CY2021 onvo Federal Research Tax Credit Carry Forwards Expiration Year Start
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2028
CY2021Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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0
CY2021 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
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0.06

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