2024 Q4 Form 10-Q Financial Statement

#000172452124000160 Filed on November 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $48.00M $32.00M
YoY Change 50.0% -4.71%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $30.00M $30.00M
YoY Change 0.0% 14.09%
% of Gross Profit
Research & Development $123.0M $82.00M
YoY Change 50.0% 6.93%
% of Gross Profit
Depreciation & Amortization $2.000M $1.000M
YoY Change 100.0% -35.9%
% of Gross Profit
Operating Expenses $153.0M $112.0M
YoY Change 36.61% 8.76%
Operating Profit -$105.0M -$80.00M
YoY Change 31.25% 15.28%
Interest Expense $14.00M $12.00M
YoY Change 16.67% 139.38%
% of Operating Profit
Other Income/Expense, Net $13.00M $11.00M
YoY Change 18.18% 145.65%
Pretax Income -$92.00M -$69.00M
YoY Change 33.33% 6.29%
Income Tax $0.00 $2.000M
% Of Pretax Income
Net Earnings -$92.00M -$71.00M
YoY Change 29.58% 9.37%
Net Earnings / Revenue -191.67% -221.88%
Basic Earnings Per Share -$1.00 -$0.94
Diluted Earnings Per Share -$1.00 -$0.95
COMMON SHARES
Basic Shares Outstanding 91.51M shares 91.43M shares 74.50M
Diluted Shares Outstanding 91.40M shares 74.60M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.089B $799.0M
YoY Change 36.3% -23.82%
Cash & Equivalents $201.0M $184.0M
Short-Term Investments $888.0M $615.0M
Other Short-Term Assets $17.00M $27.00M
YoY Change -37.04% 24.86%
Inventory
Prepaid Expenses
Receivables $21.00M $56.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.127B $882.0M
YoY Change 27.78% -19.9%
LONG-TERM ASSETS
Property, Plant & Equipment $48.00M $50.00M
YoY Change -4.0% 47.53%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.000M $151.0M
YoY Change -98.68% 5.49%
Other Assets $75.00M $108.0M
YoY Change -30.56% 919.06%
Total Long-Term Assets $125.0M $309.0M
YoY Change -59.55% 5.57%
TOTAL ASSETS
Total Short-Term Assets $1.127B $882.0M
Total Long-Term Assets $125.0M $309.0M
Total Assets $1.252B $1.191B
YoY Change 5.12% -14.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.00M $17.00M
YoY Change -23.53% 61.2%
Accrued Expenses $97.00M $72.00M
YoY Change 34.72% 250.74%
Deferred Revenue $105.0M $103.0M
YoY Change 1.94% -0.28%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $215.0M $200.0M
YoY Change 7.5% 12.88%
LONG-TERM LIABILITIES
Long-Term Debt $47.00M $0.00
YoY Change
Other Long-Term Liabilities $136.0M $145.0M
YoY Change -6.21% 796.94%
Total Long-Term Liabilities $136.0M $145.0M
YoY Change -6.21% 796.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $215.0M $200.0M
Total Long-Term Liabilities $136.0M $145.0M
Total Liabilities $351.0M $345.0M
YoY Change 1.74% -50.37%
SHAREHOLDERS EQUITY
Retained Earnings -$1.038B -$768.0M
YoY Change 35.16% 61.72%
Common Stock $1.602B $1.291B
YoY Change 24.09% 18442757.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $565.0M $520.0M
YoY Change
Total Liabilities & Shareholders Equity $1.252B $1.191B
YoY Change 5.12% -14.55%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$92.00M -$71.00M
YoY Change 29.58% 9.37%
Depreciation, Depletion And Amortization $2.000M $1.000M
YoY Change 100.0% -35.9%
Cash From Operating Activities $26.00M -$63.00M
YoY Change -141.27% -22.18%
INVESTING ACTIVITIES
Capital Expenditures $1.000M $10.00M
YoY Change -90.0% -858.73%
Acquisitions
YoY Change
Other Investing Activities -$28.00M $21.00M
YoY Change -233.33% -15.2%
Cash From Investing Activities -$29.00M $11.00M
YoY Change -363.64% -53.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 48.00M 6.000M
YoY Change 700.0% 137.06%
NET CHANGE
Cash From Operating Activities 26.00M -63.00M
Cash From Investing Activities -29.00M 11.00M
Cash From Financing Activities 48.00M 6.000M
Net Change In Cash 45.00M -46.00M
YoY Change -197.83% -16.34%
FREE CASH FLOW
Cash From Operating Activities $26.00M -$63.00M
Capital Expenditures $1.000M $10.00M
Free Cash Flow $25.00M -$73.00M
YoY Change -134.25% -8.34%

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Organization, liquidity and capital resources<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%">Organization </span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Arcus Biosciences, Inc. (referred to as "Arcus," "we," "our," "us," or the "Company") is a clinical-stage biopharmaceutical company focused on creating best-in-class therapies. Using our robust and highly efficient drug discovery capability, we have created a significant portfolio of investigational products which are in clinical development, with our most advanced molecule, an anti-TIGIT antibody, now in multiple Phase 3 registrational studies targeting lung and gastrointestinal ("GI") cancers. Our deep portfolio of novel small molecules and enabling antibodies allows us to create highly differentiated therapies, which we are developing to treat multiple large indications.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We operate and manage our business as one reportable and operating segment, which is the business of developing and commercializing highly differentiated therapies that have a meaningful impact on patients.</span></div><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%">Liquidity and Capital Resources</span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of September 30, 2024, we had cash, cash equivalents and marketable securities of $1.1 billion, which we believe will be sufficient to fund our planned operations for a period of at least twelve months following the date of filing of this report.</span></div>
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