$PSNL
Personalis, Inc.

2020 Q3 Form 10-Q Financial Statement

#000156459020051319 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3 2019 Q2
Revenue $19.82M $17.15M $15.83M
YoY Change 15.52% 47.19% 79.85%
Cost Of Revenue $14.48M $11.52M $9.923M
YoY Change 25.65% 60.66% 54.97%
Gross Profit $5.330M $5.629M $5.902M
YoY Change -5.31% 25.62% 146.33%
Gross Profit Margin 26.9% 32.82% 37.3%
Selling, General & Admin $7.790M $6.060M $5.466M
YoY Change 28.55% 127.82% 109.91%
% of Gross Profit 146.15% 107.66% 92.61%
Research & Development $7.190M $5.303M $4.497M
YoY Change 35.58% 48.54% 28.49%
% of Gross Profit 134.9% 94.21% 76.19%
Depreciation & Amortization $1.500M $1.200M $1.100M
YoY Change 25.0% 33.33% 57.14%
% of Gross Profit 28.14% 21.32% 18.64%
Operating Expenses $14.99M $5.303M $9.963M
YoY Change 182.67% -14.88% 63.22%
Operating Profit -$9.660M -$5.730M -$4.061M
YoY Change 68.59% 227.24% 9.52%
Interest Expense $120.0K $204.0K $745.0K
YoY Change -41.18% -55.16% 30.02%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 -$1.261M
YoY Change -100.0% -678.44%
Pretax Income -$9.540M -$6.880M -$5.867M
YoY Change 38.66% 89.01% -19.78%
Income Tax $10.00K $0.00 $2.000K
% Of Pretax Income
Net Earnings -$9.545M -$6.885M -$5.869M
YoY Change 38.63% 89.1% -19.77%
Net Earnings / Revenue -48.17% -40.14% -37.09%
Basic Earnings Per Share
Diluted Earnings Per Share -$269.3K -$221.3K -$188.6K
COMMON SHARES
Basic Shares Outstanding 35.46M 31.13M 6.598M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $206.1M $127.3M $163.3M
YoY Change 61.9%
Cash & Equivalents $133.2M $87.01M $163.3M
Short-Term Investments $72.80M $40.30M
Other Short-Term Assets $9.000M $6.600M $3.800M
YoY Change 36.36%
Inventory $2.600M $2.000M $1.600M
Prepaid Expenses
Receivables $5.900M $4.400M $7.465M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $223.6M $140.3M $176.2M
YoY Change 59.37%
LONG-TERM ASSETS
Property, Plant & Equipment $23.40M $17.40M $13.41M
YoY Change 34.48%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.900M $2.024M $947.0K
YoY Change -6.13%
Total Long-Term Assets $25.20M $19.39M $15.68M
YoY Change 29.96%
TOTAL ASSETS
Total Short-Term Assets $223.6M $140.3M $176.2M
Total Long-Term Assets $25.20M $19.39M $15.68M
Total Assets $248.8M $159.7M $191.8M
YoY Change 55.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.500M $7.764M $8.781M
YoY Change -16.28%
Accrued Expenses $343.0K $352.0K $547.0K
YoY Change -2.56%
Deferred Revenue $33.73M $41.87M
YoY Change
Short-Term Debt $0.00 $0.00 $1.020M
YoY Change
Long-Term Debt Due $1.020M
YoY Change
Total Short-Term Liabilities $35.90M $47.40M $56.34M
YoY Change -24.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $18.02M
YoY Change
Other Long-Term Liabilities $9.400M $900.0K $468.0K
YoY Change 944.44%
Total Long-Term Liabilities $9.400M $900.0K $18.48M
YoY Change 944.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.90M $47.40M $56.34M
Total Long-Term Liabilities $9.400M $900.0K $18.48M
Total Liabilities $45.30M $48.30M $74.83M
YoY Change -6.21%
SHAREHOLDERS EQUITY
Retained Earnings -$127.1M
YoY Change
Common Stock $244.1M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $203.5M $111.4M $117.0M
YoY Change
Total Liabilities & Shareholders Equity $248.8M $159.7M $191.8M
YoY Change 55.79%

Cashflow Statement

Concept 2020 Q3 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income -$9.545M -$6.885M -$5.869M
YoY Change 38.63% 89.1% -19.77%
Depreciation, Depletion And Amortization $1.500M $1.200M $1.100M
YoY Change 25.0% 33.33% 57.14%
Cash From Operating Activities -$16.12M -$9.630M -$10.91M
YoY Change 67.39% 2139.53% -624.52%
INVESTING ACTIVITIES
Capital Expenditures -$1.550M -$3.670M -$1.840M
YoY Change -57.77% 89.18% -53.18%
Acquisitions
YoY Change
Other Investing Activities $7.210M -$40.26M
YoY Change -117.91%
Cash From Investing Activities $5.650M -$43.93M -$1.840M
YoY Change -112.86% 2164.43% -53.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 118.7M -22.68M 142.8M
YoY Change -623.32% 9760.87% -68085.71%
NET CHANGE
Cash From Operating Activities -16.12M -9.630M -10.91M
Cash From Investing Activities 5.650M -43.93M -1.840M
Cash From Financing Activities 118.7M -22.68M 142.8M
Net Change In Cash 108.2M -76.24M 130.0M
YoY Change -241.95% 2832.31% -6411.65%
FREE CASH FLOW
Cash From Operating Activities -$16.12M -$9.630M -$10.91M
Capital Expenditures -$1.550M -$3.670M -$1.840M
Free Cash Flow -$14.57M -$5.960M -$9.070M
YoY Change 144.46% -494.7% -250.92%

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9402234
CY2019Q4 psnl Share Based Compensation Arrangement By Share Based Payment Award Options And Equity Instruments Other Than Options Grants In Period Unvested And Unexercised But Reserved Shares Yet Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndEquityInstrumentsOtherThanOptionsGrantsInPeriodUnvestedAndUnexercisedButReservedSharesYetGranted
7416094
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
0.25
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Rights
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights
Options granted to new hires generally vest over a four-year period, with 25% vesting at the end of one year and the remaining vesting monthly thereafter. Options granted as merit awards generally vest monthly over a three- or four-year period.
CY2020Q3 psnl Closing Price Of Common Stock
ClosingPriceOfCommonStock
21.67
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.81
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.40
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.19
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
11400000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M6D
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.6228
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.6174
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.5620
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.6308
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.6818
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.6308
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0153
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0036
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0153
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1690000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1402000
CY2018Q4 psnl Fair Values Of Convertible Preferred Stock Warrants
FairValuesOfConvertiblePreferredStockWarrants
700000
CY2019Q2 psnl Reclassification Of Outstanding Preferred Stock Warrant Liability To Additional Paid In Capital Fair Value
ReclassificationOfOutstandingPreferredStockWarrantLiabilityToAdditionalPaidInCapitalFairValue
2100000
psnl Warrant Exercised
WarrantExercised
22489
psnl Common Stock Issued For Exercise Of Warrant
CommonStockIssuedForExerciseOfWarrant
19069
psnl Common Stock Issued For Exercise Of Warrant
CommonStockIssuedForExerciseOfWarrant
40357
CY2020Q3 psnl Warrant Exercised
WarrantExercised
62096
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9545000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6885000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-18439000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-27939000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35460092
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31134009
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32845583
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13614087
CY2020Q3 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
0
CY2019Q3 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
326
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
0
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
643
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6079490
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4860962
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6079490
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4860962

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