$RLAY
Relay Therapeutics, Inc.

2022 Q3 Form 10-Q Financial Statement

#000095017022014809 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $344.0K $365.0K $419.0K
YoY Change -48.35% -56.75% -55.99%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $16.07M $17.47M $16.07M
YoY Change 9.48% 21.1% -34.34%
% of Gross Profit
Research & Development $66.90M $60.51M $51.67M
YoY Change 51.47% 34.03% 68.73%
% of Gross Profit
Depreciation & Amortization $1.033M $956.0K $975.0K
YoY Change 2.08% -0.31% 6.09%
% of Gross Profit
Operating Expenses $86.24M $78.18M $63.14M
YoY Change 39.87% -59.79% 45.63%
Operating Profit -$85.89M -$77.81M -$62.72M
YoY Change 40.83% -59.8% 47.91%
Interest Expense $1.713M $1.005M $696.0K
YoY Change 991.08% -108.61% 202.61%
% of Operating Profit
Other Income/Expense, Net $1.720M $1.023M $675.0K
YoY Change 995.54% 465.19% 205.43%
Pretax Income -$84.17M -$76.79M -$62.05M
YoY Change 38.37% -60.3% 47.1%
Income Tax
% Of Pretax Income
Net Earnings -$84.17M -$76.79M -$62.05M
YoY Change 38.37% -60.3% 47.08%
Net Earnings / Revenue -24468.6% -21037.81% -14808.11%
Basic Earnings Per Share -$0.76 -$0.71 -$0.57
Diluted Earnings Per Share -$0.76 -$706.8K -$572.9K
COMMON SHARES
Basic Shares Outstanding 108.9M 108.7M 108.3M
Diluted Shares Outstanding 110.9M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.054B $838.0M $898.2M
YoY Change 70.93% 24.85% 23.7%
Cash & Equivalents $354.6M $107.7M $119.4M
Short-Term Investments $699.1M $730.3M $778.7M
Other Short-Term Assets $11.58M $12.75M $12.66M
YoY Change -34.56% 128.35% 62.35%
Inventory
Prepaid Expenses $16.81M
Receivables $241.0K $288.0K $269.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.087B $855.8M $915.8M
YoY Change 70.09% 25.62% 23.35%
LONG-TERM ASSETS
Property, Plant & Equipment $11.39M $8.922M $8.904M
YoY Change -58.55% 36.03% 50.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.578M $2.578M $2.578M
YoY Change 0.0% 0.0% 186.44%
Total Long-Term Assets $81.42M $33.63M $34.09M
YoY Change 151.64% 1.52% 17.91%
TOTAL ASSETS
Total Short-Term Assets $1.087B $855.8M $915.8M
Total Long-Term Assets $81.42M $33.63M $34.09M
Total Assets $1.169B $889.4M $949.9M
YoY Change 74.02% 24.5% 23.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.485M $4.296M $8.053M
YoY Change 50.17% -45.42% 43.98%
Accrued Expenses $29.36M $22.11M $15.22M
YoY Change 34.25% 43.51% 71.61%
Deferred Revenue $83.00K $166.0K
YoY Change -79.95%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $71.43M $43.90M $41.69M
YoY Change 150.47% 72.94% 159.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $97.52M $65.88M $66.22M
YoY Change 35.43% -6.53% 194.3%
Total Long-Term Liabilities $97.52M $65.88M $66.22M
YoY Change 35.43% -6.53% 194.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $71.43M $43.90M $41.69M
Total Long-Term Liabilities $97.52M $65.88M $66.22M
Total Liabilities $168.9M $109.8M $107.9M
YoY Change 68.06% 14.51% 179.84%
SHAREHOLDERS EQUITY
Retained Earnings -$991.1M -$906.9M -$830.1M
YoY Change 41.46% 41.74% 85.95%
Common Stock $121.0K $109.0K $109.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $999.8M $779.6M $842.0M
YoY Change
Total Liabilities & Shareholders Equity $1.169B $889.4M $949.9M
YoY Change 74.02% 24.5% 23.15%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$84.17M -$76.79M -$62.05M
YoY Change 38.37% -60.3% 47.08%
Depreciation, Depletion And Amortization $1.033M $956.0K $975.0K
YoY Change 2.08% -0.31% 6.09%
Cash From Operating Activities -$66.14M -$57.09M -$49.17M
YoY Change 24.34% 102.89% -205.43%
INVESTING ACTIVITIES
Capital Expenditures -$2.095M -$1.857M $2.794M
YoY Change 20.68% 395.2% 486.97%
Acquisitions
YoY Change
Other Investing Activities $29.28M $45.25M -$109.6M
YoY Change 30.01% 71.05% -53.0%
Cash From Investing Activities $27.19M $43.39M -$112.4M
YoY Change 30.79% 66.45% -51.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $883.0K
YoY Change -57.03%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 285.9M 1.996M 883.0K
YoY Change 31592.35% 78.85% -57.03%
NET CHANGE
Cash From Operating Activities -66.14M -57.09M -49.17M
Cash From Investing Activities 27.19M 43.39M -112.4M
Cash From Financing Activities 285.9M 1.996M 883.0K
Net Change In Cash 246.9M -11.71M -160.7M
YoY Change -883.58% 1123.51% -13.11%
FREE CASH FLOW
Cash From Operating Activities -$66.14M -$57.09M -$49.17M
Capital Expenditures -$2.095M -$1.857M $2.794M
Free Cash Flow -$64.05M -$55.24M -$51.97M
YoY Change 24.46% 98.94% -212.57%

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us-gaap Use Of Estimates
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.1020833333333333;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the fair value of contingent milestone payments in connection with the acquisition of ZebiAI Therapeutics, Inc. (“ZebiAI”), the determination of the transaction price and standalone selling price of performance obligations under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Revenue from Contracts with Customers</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;"> ("ASC 606"), the accrual of research and development and manufacturing expenses, the valuation of equity instruments and the incremental borrowing rate for determining the operating lease assets and liabilities. Estimates are periodically reviewed in light of changes in circumstances, facts and experience.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
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CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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