$QTTB
Q32 Bio Inc.

2021 Q2 Form 10-Q Financial Statement

#000156459021043946 Filed on August 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $2.187M $570.0K
YoY Change 283.68% 45.41%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.042M $8.790M
YoY Change 2.87% 58.66%
% of Gross Profit
Research & Development $23.70M $27.47M
YoY Change -13.73% 20.34%
% of Gross Profit
Depreciation & Amortization $2.100M $2.000M
YoY Change 5.0% 25.0%
% of Gross Profit
Operating Expenses $32.74M $36.26M
YoY Change -9.71% 27.83%
Operating Profit -$30.55M
YoY Change
Interest Expense $52.00K $360.0K
YoY Change -85.56% -78.82%
% of Operating Profit
Other Income/Expense, Net $52.00K
YoY Change
Pretax Income -$30.50M -$35.34M
YoY Change -13.7% 34.53%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$30.50M -$35.34M
YoY Change -13.7% 34.53%
Net Earnings / Revenue -1394.6% -6200.0%
Basic Earnings Per Share -$0.54
Diluted Earnings Per Share -$0.54 -$781.7K
COMMON SHARES
Basic Shares Outstanding 56.50M
Diluted Shares Outstanding 56.50M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $213.3M $206.6M
YoY Change 3.24% -30.15%
Cash & Equivalents $116.3M $167.6M
Short-Term Investments $96.98M $39.00M
Other Short-Term Assets $4.644M $3.200M
YoY Change 45.13% 6.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $217.9M $209.8M
YoY Change 3.88% -29.78%
LONG-TERM ASSETS
Property, Plant & Equipment $34.38M $40.77M
YoY Change -15.68% -0.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.274M $1.300M
YoY Change -2.0% 0.0%
Total Long-Term Assets $40.98M $48.40M
YoY Change -15.33% 14.19%
TOTAL ASSETS
Total Short-Term Assets $217.9M $209.8M
Total Long-Term Assets $40.98M $48.40M
Total Assets $258.9M $258.2M
YoY Change 0.28% -24.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.696M $7.100M
YoY Change -19.77% -14.81%
Accrued Expenses $9.831M $11.70M
YoY Change -15.97% 120.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.53M $19.60M
YoY Change -0.34% 26.53%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $14.81M $44.00M
YoY Change -66.35% 7.58%
Total Long-Term Liabilities $14.81M $44.00M
YoY Change -66.35% 7.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.53M $19.60M
Total Long-Term Liabilities $14.81M $44.00M
Total Liabilities $34.34M $63.50M
YoY Change -45.92% 12.56%
SHAREHOLDERS EQUITY
Retained Earnings -$359.9M -$270.3M
YoY Change 33.15% 85.29%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $224.6M $194.7M
YoY Change
Total Liabilities & Shareholders Equity $258.9M $258.2M
YoY Change 0.28% -24.32%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$30.50M -$35.34M
YoY Change -13.7% 34.53%
Depreciation, Depletion And Amortization $2.100M $2.000M
YoY Change 5.0% 25.0%
Cash From Operating Activities -$24.11M -$27.98M
YoY Change -13.82% 29.12%
INVESTING ACTIVITIES
Capital Expenditures -$761.0K -$590.0K
YoY Change 28.98% -90.03%
Acquisitions
YoY Change
Other Investing Activities -$12.97M $52.60M
YoY Change -124.66% -262.45%
Cash From Investing Activities -$13.73M $52.01M
YoY Change -126.4% -235.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 49.75M 240.0K
YoY Change 20628.75% -99.82%
NET CHANGE
Cash From Operating Activities -24.11M -27.98M
Cash From Investing Activities -13.73M 52.01M
Cash From Financing Activities 49.75M 240.0K
Net Change In Cash 11.90M 24.27M
YoY Change -50.96% -67.51%
FREE CASH FLOW
Cash From Operating Activities -$24.11M -$27.98M
Capital Expenditures -$761.0K -$590.0K
Free Cash Flow -$23.35M -$27.39M
YoY Change -14.74% 73.9%

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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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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
12.84
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
59348
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.30
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
158374
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
18.62
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7525802
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.62
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5300000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
7525802
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
14.62
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
5300000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3716324
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
13.21
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
5131000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
600000
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 Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.77
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.22
CY2020Q4 fixx Unvested Common Shares Subject To Repurchase Outstanding
UnvestedCommonSharesSubjectToRepurchaseOutstanding
3091
fixx Unvested Common Shares Subject To Repurchase Vested
UnvestedCommonSharesSubjectToRepurchaseVested
2022
CY2021Q2 fixx Unvested Common Shares Subject To Repurchase Outstanding
UnvestedCommonSharesSubjectToRepurchaseOutstanding
1069
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4473000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3452000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8356000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7800221
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5701012

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