$PLX
Protalix BioTherapeutics, Inc.

2023 Q4 Form 10-Q Financial Statement

#000155837023017664 Filed on November 06, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $10.49M $10.35M
YoY Change 21.65% -27.06%
Cost Of Revenue $8.856M $4.893M
YoY Change 269.0% -30.83%
Gross Profit $1.630M $5.452M
YoY Change -73.79% -23.31%
Gross Profit Margin 15.54% 52.7%
Selling, General & Admin $4.143M $3.670M
YoY Change 33.65% 28.86%
% of Gross Profit 254.17% 67.31%
Research & Development $3.102M $3.669M
YoY Change -44.8% -50.32%
% of Gross Profit 190.31% 67.3%
Depreciation & Amortization $313.0K $308.0K
YoY Change 11.79% 14.07%
% of Gross Profit 19.2% 5.65%
Operating Expenses $7.245M $7.339M
YoY Change -16.82% -28.29%
Operating Profit -$5.615M -$1.887M
YoY Change 125.5% -39.62%
Interest Expense -$811.0K $168.0K
YoY Change 12.64% -138.18%
% of Operating Profit
Other Income/Expense, Net $168.0K
YoY Change -138.01%
Pretax Income -$6.426M -$1.719M
YoY Change 100.19% -51.85%
Income Tax -$382.0K $133.0K
% Of Pretax Income
Net Earnings -$6.044M -$1.852M
YoY Change 61.6% -48.08%
Net Earnings / Revenue -57.64% -17.9%
Basic Earnings Per Share -$0.03
Diluted Earnings Per Share -$0.08 -$0.04
COMMON SHARES
Basic Shares Outstanding 72.95M 71.58M
Diluted Shares Outstanding 83.78M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.63M $20.41M
YoY Change 38.21% 90.73%
Cash & Equivalents $23.63M $20.41M
Short-Term Investments
Other Short-Term Assets $1.055M $1.125M
YoY Change -19.47% -35.2%
Inventory $19.05M $21.58M
Prepaid Expenses $444.0K
Receivables $5.272M $8.935M
Other Receivables $0.00 $0.00
Total Short-Term Assets $69.93M $72.62M
YoY Change 55.82% 58.69%
LONG-TERM ASSETS
Property, Plant & Equipment $4.973M $4.684M
YoY Change 9.22% 0.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.620M $4.352M
YoY Change 178.46% 210.86%
Total Long-Term Assets $14.50M $14.95M
YoY Change 32.96% 36.55%
TOTAL ASSETS
Total Short-Term Assets $69.93M $72.62M
Total Long-Term Assets $14.50M $14.95M
Total Assets $84.43M $87.57M
YoY Change 51.35% 54.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.55M $18.74M
YoY Change 59.32% 234.64%
Accrued Expenses $9.009M $9.249M
YoY Change 12.5% 824.9%
Deferred Revenue $0.00
YoY Change -100.0%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $20.25M $20.19M
YoY Change
Total Short-Term Liabilities $45.53M $43.36M
YoY Change 40.4% 26.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $5.335M $5.963M
YoY Change -8.02% 2.81%
Total Long-Term Liabilities $5.335M $5.963M
YoY Change -84.31% -82.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.53M $43.36M
Total Long-Term Liabilities $5.335M $5.963M
Total Liabilities $50.87M $49.32M
YoY Change -23.43% -27.7%
SHAREHOLDERS EQUITY
Retained Earnings -$381.5M
YoY Change -2.13%
Common Stock $415.1M
YoY Change 9.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $33.57M $38.25M
YoY Change
Total Liabilities & Shareholders Equity $84.43M $87.57M
YoY Change 51.35% 54.42%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$6.044M -$1.852M
YoY Change 61.6% -48.08%
Depreciation, Depletion And Amortization $313.0K $308.0K
YoY Change 11.79% 14.07%
Cash From Operating Activities $3.595M -$6.893M
YoY Change -237.74% -25.08%
INVESTING ACTIVITIES
Capital Expenditures $250.0K $449.0K
YoY Change 19.05% 648.33%
Acquisitions
YoY Change
Other Investing Activities -$92.00K -$20.43M
YoY Change -101.78% -442.21%
Cash From Investing Activities -$342.0K -$20.88M
YoY Change -106.91% -453.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -4.000K
YoY Change -100.0% -100.26%
NET CHANGE
Cash From Operating Activities 3.595M -6.893M
Cash From Investing Activities -342.0K -20.88M
Cash From Financing Activities 0.000 -4.000K
Net Change In Cash 3.253M -27.78M
YoY Change -49.33% 1469.27%
FREE CASH FLOW
Cash From Operating Activities $3.595M -$6.893M
Capital Expenditures $250.0K $449.0K
Free Cash Flow $3.345M -$7.342M
YoY Change -218.62% -20.71%

Facts In Submission

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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
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us-gaap Interest Paid Net
InterestPaidNet
2743000
us-gaap Interest Paid Net
InterestPaidNet
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plx Interest Received Net
InterestReceivedNet
303000
plx Interest Received Net
InterestReceivedNet
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CY2023Q3 plx Number Of Global Licensing And Supply Agreements
NumberOfGlobalLicensingAndSupplyAgreements
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CY2023Q1 plx Number Of Patients Dosed
NumberOfPatientsDosed
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us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q3 us-gaap Dilutive Securities
DilutiveSecurities
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us-gaap Dilutive Securities
DilutiveSecurities
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CY2023Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
4198000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
3508000
CY2023Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
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CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
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CY2023Q3 us-gaap Inventory Finished Goods Net Of Reserves
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CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
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144000000
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2023Q2 us-gaap Proceeds From Warrant Exercises
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CY2023Q2 plx Stock Issued During Period Shares Warrants Exercises
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CY2023Q3 plx Stock Issued During Period Shares Warrants Exercises
StockIssuedDuringPeriodSharesWarrantsExercises
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CY2023Q3 us-gaap Net Income Loss
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CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47582733
CY2023Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49498105
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47582733
CY2023Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
95000
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2023Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
38000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
133000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
636000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.04
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q2 plx Milestone Payment To Regulatory Approvals
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20000000.0
CY2023Q3 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
3100000
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1239000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1216000
CY2023Q3 us-gaap Interest Payable Current
InterestPayableCurrent
123000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
719000
CY2023Q3 us-gaap Accrued Vacation Current
AccruedVacationCurrent
1471000
CY2022Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
1404000
CY2023Q3 us-gaap Accrued Liabilities Current
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9249000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7478000
CY2023Q3 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
332000
CY2022Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
781000
CY2023Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
3257000
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
530000
CY2023Q3 plx Reserve For Deductions From Revenue Current
ReserveForDeductionsFromRevenueCurrent
2816000
CY2023Q3 plx Accounts Payable Property And Equipment Suppliers Current
AccountsPayablePropertyAndEquipmentSuppliersCurrent
253000
CY2022Q4 plx Accounts Payable Property And Equipment Suppliers Current
AccountsPayablePropertyAndEquipmentSuppliersCurrent
143000
CY2023Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
18740000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
12271000

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