2024 Q2 Form 10-Q Financial Statement

#000174647324000076 Filed on May 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00 $0.00
YoY Change -100.0% -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $15.02M $15.25M
YoY Change 3.07% 7.72%
% of Gross Profit
Research & Development $45.62M $37.15M
YoY Change 38.22% 26.9%
% of Gross Profit
Depreciation & Amortization $600.0K $500.0K
YoY Change 25.79% 0.0%
% of Gross Profit
Operating Expenses $60.64M $52.39M
YoY Change 27.46% 20.64%
Operating Profit -$60.64M -$52.39M
YoY Change 28.13% 24.46%
Interest Expense $4.785M $445.0K
YoY Change 1400.0% 43.09%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$55.85M -$46.96M
YoY Change 35.59% 25.05%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$55.85M -$46.96M
YoY Change 35.59% 25.05%
Net Earnings / Revenue
Basic Earnings Per Share -$0.92 -$0.78
Diluted Earnings Per Share -$0.92 -$0.78
COMMON SHARES
Basic Shares Outstanding 60.33M shares 60.24M shares
Diluted Shares Outstanding 60.38M shares 60.18M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $436.6M $482.4M
YoY Change -21.35% -16.44%
Cash & Equivalents $80.39M $114.3M
Short-Term Investments $356.2M $368.1M
Other Short-Term Assets $8.143M $5.194M
YoY Change 24.89% -15.63%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $447.6M $489.9M
YoY Change -20.89% -16.72%
LONG-TERM ASSETS
Property, Plant & Equipment $5.395M $5.605M
YoY Change -36.66% 33.55%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $437.0K $392.0K
YoY Change -34.97% -39.13%
Total Long-Term Assets $36.18M $31.71M
YoY Change 293.66% 228.43%
TOTAL ASSETS
Total Short-Term Assets $447.6M $489.9M
Total Long-Term Assets $36.18M $31.71M
Total Assets $483.7M $521.6M
YoY Change -15.86% -12.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.247M $7.327M
YoY Change 40.56% 416.35%
Accrued Expenses $8.196M $5.868M
YoY Change -69.88% -73.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $30.92M $30.39M
YoY Change 4.76% 31.26%
LONG-TERM LIABILITIES
Long-Term Debt $30.07M $30.00M
YoY Change 201.06% 201.29%
Other Long-Term Liabilities $30.06M $23.88M
YoY Change 1196.72% 737.89%
Total Long-Term Liabilities $60.13M $53.88M
YoY Change 388.61% 320.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.92M $30.39M
Total Long-Term Liabilities $60.13M $53.88M
Total Liabilities $91.05M $84.27M
YoY Change 117.69% 134.35%
SHAREHOLDERS EQUITY
Retained Earnings -$602.6M -$546.7M
YoY Change 44.45% 45.42%
Common Stock $995.9M $984.5M
YoY Change 4.56% 4.82%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $392.7M $437.3M
YoY Change
Total Liabilities & Shareholders Equity $483.7M $521.6M
YoY Change -15.86% -12.76%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$55.85M -$46.96M
YoY Change 35.59% 25.05%
Depreciation, Depletion And Amortization $600.0K $500.0K
YoY Change 25.79% 0.0%
Cash From Operating Activities -$45.30M -$30.27M
YoY Change 82.95% -0.02%
INVESTING ACTIVITIES
Capital Expenditures $1.251M $1.492M
YoY Change 107.46% 815.34%
Acquisitions
YoY Change
Other Investing Activities $11.95M $61.04M
YoY Change -153.42% -135.07%
Cash From Investing Activities $10.70M $59.55M
YoY Change -146.57% -134.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 684.0K $21.79M
YoY Change 324.84% -92.03%
NET CHANGE
Cash From Operating Activities -45.30M -$30.27M
Cash From Investing Activities 10.70M $59.55M
Cash From Financing Activities 684.0K $21.79M
Net Change In Cash -33.91M $51.06M
YoY Change -28.72% -25.83%
FREE CASH FLOW
Cash From Operating Activities -$45.30M -$30.27M
Capital Expenditures $1.251M $1.492M
Free Cash Flow -$46.55M -$31.76M
YoY Change 83.53% 4.35%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2024Q1 us-gaap Use Of Estimates
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<div style="margin-top:6pt"><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-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and expenses as well as the disclosure of contingent assets and liabilities as of and during the reporting period. The Company bases its estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, stock-based compensation expense, operating lease right-of-use (“ROU”) assets and liabilities, accruals and prepayments for research and development costs, income taxes and uncertain tax positions. The Company assesses estimates on an ongoing basis, however, actual results could materially differ from those estimates.</span></div>
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CY2024Q1 plrx Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
0 usd
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
30000000 usd
CY2024Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
191000 usd
CY2024Q1 plrx Long Term Debt Accretion Of Final Payment
LongTermDebtAccretionOfFinalPayment
193000 usd
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
30002000 usd
CY2024Q1 plrx Number Of Classes Of Stock Authorized
NumberOfClassesOfStockAuthorized
2 class
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2024Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2024Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
15742708 shares
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
12544982 shares
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.094
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9666000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11923000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024Q1 plrx Valuation Allowance As Percentage On Deferred Tax Assets
ValuationAllowanceAsPercentageOnDeferredTaxAssets
1
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2024Q1 plrx Contractual Arrangements Cancellation Period
ContractualArrangementsCancellationPeriod
P30D
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2037000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2849000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3537000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4735000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5996000 usd
CY2024Q1 plrx Lessee Operating Lease Liability To Be Paid Year Four And After Year Four
LesseeOperatingLeaseLiabilityToBePaidYearFourAndAfterYearFour
16718000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
35872000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11219000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
773000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
23880000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y10M24D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y1M6D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.082
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
972000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
770000 usd
CY2024Q1 us-gaap Variable Lease Cost
VariableLeaseCost
165000 usd
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
243000 usd
CY2024Q1 us-gaap Lease Cost
LeaseCost
1137000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
1013000 usd
CY2024Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
300000 usd
CY2023Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
300000 usd
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8861584 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7549127 shares
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001746473-24-000076.txt Edgar Link pending
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