$QTTB
Q32 Bio Inc.

2020 Q3 Form 10-Q Financial Statement

#000156459020052484 Filed on November 09, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3 2019 Q2
Revenue $567.0K $441.0K $392.0K
YoY Change 28.57% -72.47% -71.9%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.420M $6.040M $5.540M
YoY Change 39.4% 57.29% 22.3%
% of Gross Profit
Research & Development $20.42M $25.69M $22.83M
YoY Change -20.53% 91.81% 121.84%
% of Gross Profit
Depreciation & Amortization $2.000M $1.700M $1.600M
YoY Change 17.65% 466.67% 700.0%
% of Gross Profit
Operating Expenses $28.84M $31.73M $28.37M
YoY Change -9.11% 84.07% 91.44%
Operating Profit -$28.27M -$31.29M -$27.97M
YoY Change -9.64% 100.12% 108.41%
Interest Expense $40.00K $1.660M $1.700M
YoY Change -97.59% 11.41% 70.0%
% of Operating Profit
Other Income/Expense, Net $41.00K $1.661M $1.703M
YoY Change -97.53% 11.7% 70.98%
Pretax Income -$28.23M -$29.63M -$26.27M
YoY Change -4.72% 109.4% 111.34%
Income Tax
% Of Pretax Income
Net Earnings -$28.23M -$29.63M -$26.27M
YoY Change -4.71% 109.41% 111.41%
Net Earnings / Revenue -4979.19% -6718.14% -6701.53%
Basic Earnings Per Share
Diluted Earnings Per Share -$624.1K -$674.9K -$609.8K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $178.0M $269.7M $295.8M
YoY Change -33.99% 13.53% 15.77%
Cash & Equivalents $178.0M $77.56M $115.6M
Short-Term Investments $192.1M $180.2M
Other Short-Term Assets $3.300M $4.400M $3.000M
YoY Change -25.0% -46.99% -50.82%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $181.3M $274.1M $298.8M
YoY Change -33.85% 11.47% 14.21%
LONG-TERM ASSETS
Property, Plant & Equipment $39.68M $41.41M $41.11M
YoY Change -4.16% 99.64% 495.84%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.300M $1.300M $1.300M
YoY Change 0.0% -27.78% -27.78%
Total Long-Term Assets $47.10M $42.68M $42.39M
YoY Change 10.36% 89.43% 386.38%
TOTAL ASSETS
Total Short-Term Assets $181.3M $274.1M $298.8M
Total Long-Term Assets $47.10M $42.68M $42.39M
Total Assets $228.4M $316.8M $341.2M
YoY Change -27.89% 18.02% 26.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.300M $8.798M $8.334M
YoY Change -62.49% -20.89% 66.1%
Accrued Expenses $10.90M $7.800M $5.300M
YoY Change 39.74% 105.26% 120.83%
Deferred Revenue $774.0K $690.0K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $17.20M $18.68M $15.49M
YoY Change -7.93% 0.58% 42.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $41.00M $40.30M $40.90M
YoY Change 1.74% 8.63% 25.46%
Total Long-Term Liabilities $41.00M $40.30M $40.90M
YoY Change 1.74% 8.63% 25.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.20M $18.68M $15.49M
Total Long-Term Liabilities $41.00M $40.30M $40.90M
Total Liabilities $58.10M $58.94M $56.41M
YoY Change -1.42% 5.93% 29.64%
SHAREHOLDERS EQUITY
Retained Earnings -$298.6M -$175.5M -$145.9M
YoY Change 70.14% 129.38%
Common Stock $433.1M $430.4M
YoY Change 48.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $170.2M $257.8M $284.7M
YoY Change
Total Liabilities & Shareholders Equity $228.4M $316.8M $341.2M
YoY Change -27.91% 18.02% 26.21%

Cashflow Statement

Concept 2020 Q3 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income -$28.23M -$29.63M -$26.27M
YoY Change -4.71% 109.41% 111.41%
Depreciation, Depletion And Amortization $2.000M $1.700M $1.600M
YoY Change 17.65% 466.67% 700.0%
Cash From Operating Activities -$28.89M -$25.49M -$21.67M
YoY Change 13.34% 86.19% 122.26%
INVESTING ACTIVITIES
Capital Expenditures -$160.0K -$1.720M -$5.920M
YoY Change -90.7% -64.39% 88.54%
Acquisitions
YoY Change
Other Investing Activities $39.00M -$11.41M -$32.38M
YoY Change -441.81% -71.78% -64.11%
Cash From Investing Activities $38.84M -$13.13M -$38.31M
YoY Change -395.81% -70.99% -58.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 410.0K 620.0K 134.7M
YoY Change -33.87% 3000.0% -11.32%
NET CHANGE
Cash From Operating Activities -28.89M -25.49M -21.67M
Cash From Investing Activities 38.84M -13.13M -38.31M
Cash From Financing Activities 410.0K 620.0K 134.7M
Net Change In Cash 10.36M -38.00M 74.71M
YoY Change -127.26% -35.52% 53.19%
FREE CASH FLOW
Cash From Operating Activities -$28.89M -$25.49M -$21.67M
Capital Expenditures -$160.0K -$1.720M -$5.920M
Free Cash Flow -$28.73M -$23.77M -$15.75M
YoY Change 20.87% 168.28% 138.28%

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.8%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates<span style="font-weight:normal;">—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, revenue, and expenses, and 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 condensed consolidated financial statements include, but are not limited to, revenue recognition, accrued research and development expenses and useful lives assigned to property and equipment. The Company assesses estimates on an ongoing basis; however, actual results could materially differ from those estimates.</span></p>
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1184000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2987000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3077000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3169000
CY2020Q3 fixx Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
7197000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
21233000
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5196000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
16037000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
969000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3834000
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.099
us-gaap Operating Lease Payments
OperatingLeasePayments
2838000
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
55234
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
800000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
33809000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1200650
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
18.43
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3346000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1987000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9682000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5199000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4843018
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.78
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
41593
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.84
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
189243
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
23.31
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5812832
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.33
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
11299000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
5812832
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
15.33
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
11299000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2574662
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
11.70
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
9618000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
500000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1400000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
10.73
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
14.70
CY2019Q4 fixx Unvested Common Shares Subject To Repurchase Outstanding
UnvestedCommonSharesSubjectToRepurchaseOutstanding
21666
fixx Unvested Common Shares Subject To Repurchase Vested
UnvestedCommonSharesSubjectToRepurchaseVested
17564
CY2020Q3 fixx Unvested Common Shares Subject To Repurchase Outstanding
UnvestedCommonSharesSubjectToRepurchaseOutstanding
4102
CY2020Q3 fixx Unvested Common Shares Subject To Repurchase Outstanding
UnvestedCommonSharesSubjectToRepurchaseOutstanding
4102
CY2019Q4 fixx Unvested Common Shares Subject To Repurchase Outstanding
UnvestedCommonSharesSubjectToRepurchaseOutstanding
21666
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5816934
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3949005

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