$RVMD
Revolution Medicines Inc

2023 Q3 Form 10-Q Financial Statement

#000095017023039805 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $0.00 $3.824M $9.116M
YoY Change -100.0% -58.05% 4.81%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $15.51M $14.64M $10.20M
YoY Change 48.65% 43.47% 39.84%
% of Gross Profit
Research & Development $107.7M $97.98M $61.00M
YoY Change 55.11% 60.62% 32.8%
% of Gross Profit
Depreciation & Amortization $1.300M $1.200M $1.198M
YoY Change 3.34% 0.17% 12.07%
% of Gross Profit
Operating Expenses $123.2M $112.6M $71.21M
YoY Change 54.27% 58.16% 55.01%
Operating Profit -$123.2M -$108.8M -$62.09M
YoY Change 61.04% 75.23% 39.42%
Interest Expense $10.95M $10.50M $867.0K
YoY Change 1110.96% 267.37%
% of Operating Profit
Other Income/Expense, Net $10.95M $10.50M $867.0K
YoY Change 276.57% 1110.96% 267.37%
Pretax Income -$112.3M -$98.30M -$61.22M
YoY Change 52.53% 60.56% 38.2%
Income Tax -$3.867M $0.00 $0.00
% Of Pretax Income
Net Earnings -$108.4M -$98.30M -$61.22M
YoY Change 47.87% 60.56% 38.2%
Net Earnings / Revenue -2570.55% -671.59%
Basic Earnings Per Share -$0.99 -$0.92 -$0.82
Diluted Earnings Per Share -$0.99 -$0.92 -$824.2K
COMMON SHARES
Basic Shares Outstanding 109.2M 106.3M 74.25M
Diluted Shares Outstanding 109.2M 106.9M 74.28M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $813.2M $909.5M $461.4M
YoY Change 24.15% 97.1% -28.61%
Cash & Equivalents $358.4M $380.3M $105.8M
Short-Term Investments $454.8M $529.2M $355.7M
Other Short-Term Assets $11.00M $10.09M $15.99M
YoY Change -27.42% -36.88% 95.9%
Inventory
Prepaid Expenses
Receivables $300.0K $2.510M $5.624M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $824.5M $922.1M $483.0M
YoY Change 22.12% 90.89% -26.92%
LONG-TERM ASSETS
Property, Plant & Equipment $20.29M $19.72M $73.34M
YoY Change 11.05% -73.12% 582.65%
Goodwill $14.61M $14.61M
YoY Change 0.0%
Intangibles $58.01M $58.27M
YoY Change -1.81%
Long-Term Investments
YoY Change
Other Assets $11.35M $2.691M $2.462M
YoY Change 1226.17% 9.3% 82.64%
Total Long-Term Assets $159.8M $151.6M $149.8M
YoY Change 5.94% 1.24% 32.49%
TOTAL ASSETS
Total Short-Term Assets $824.5M $922.1M $483.0M
Total Long-Term Assets $159.8M $151.6M $149.8M
Total Assets $984.2M $1.074B $632.8M
YoY Change 19.17% 69.68% -18.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.63M $29.78M $14.07M
YoY Change 21.51% 111.73% 34.81%
Accrued Expenses $55.40M $47.93M $39.14M
YoY Change 43.1% 22.45% 45.34%
Deferred Revenue $0.00 $0.00
YoY Change -100.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $85.54M $78.06M $63.54M
YoY Change 16.75% 22.85% 38.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $982.0K $252.0K $62.98M
YoY Change 108.49% -99.6% 75.94%
Total Long-Term Liabilities $982.0K $252.0K $62.98M
YoY Change 108.49% -99.6% 75.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $85.54M $78.06M $63.54M
Total Long-Term Liabilities $982.0K $252.0K $62.98M
Total Liabilities $146.8M $142.9M $134.0M
YoY Change 1.58% 6.65% 50.45%
SHAREHOLDERS EQUITY
Retained Earnings -$976.2M -$867.7M
YoY Change 51.4%
Common Stock $1.815B $1.800B
YoY Change 36.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $837.5M $930.8M $498.8M
YoY Change
Total Liabilities & Shareholders Equity $984.2M $1.074B $632.8M
YoY Change 19.17% 69.68% -18.25%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$108.4M -$98.30M -$61.22M
YoY Change 47.87% 60.56% 38.2%
Depreciation, Depletion And Amortization $1.300M $1.200M $1.198M
YoY Change 3.34% 0.17% 12.07%
Cash From Operating Activities -$100.5M -$67.12M -$55.72M
YoY Change 94.25% 20.47% 63.5%
INVESTING ACTIVITIES
Capital Expenditures $2.530M $1.119M -$2.526M
YoY Change -171.77% -144.3% 92.68%
Acquisitions
YoY Change
Other Investing Activities $79.89M -$42.43M $64.93M
YoY Change -166.62% -165.34% -153.45%
Cash From Investing Activities $77.35M -$43.54M $62.40M
YoY Change -162.66% -169.78% -150.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.010M 64.63M 1.429M
YoY Change -99.59% 4422.74% 63.88%
NET CHANGE
Cash From Operating Activities -100.5M -67.12M -55.72M
Cash From Investing Activities 77.35M -43.54M 62.40M
Cash From Financing Activities 1.010M 64.63M 1.429M
Net Change In Cash -22.14M -46.04M 8.114M
YoY Change -130.26% -667.35% -105.2%
FREE CASH FLOW
Cash From Operating Activities -$100.5M -$67.12M -$55.72M
Capital Expenditures $2.530M $1.119M -$2.526M
Free Cash Flow -$103.0M -$68.24M -$53.19M
YoY Change 113.7% 28.29% 62.33%

Facts In Submission

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CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2022Q1 rvmd Adjustments To Additional Paid In Capital Vesting Of Early Exercise Of Stock Options
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31000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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6644000
CY2022Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
550993000
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2022Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1239000
CY2022Q2 rvmd Adjustments To Additional Paid In Capital Vesting Of Early Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalVestingOfEarlyExerciseOfStockOptions
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CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8098000
CY2022Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-481000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
498841000
us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Gain Loss On Sale Of Property Plant Equipment
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us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-19000
us-gaap Amortization Of Intangible Assets
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534000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
534000
us-gaap Share Based Compensation
ShareBasedCompensation
22679000
us-gaap Share Based Compensation
ShareBasedCompensation
14742000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2428000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1832000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
8428000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1344000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
2258000
us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-305000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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9199000
us-gaap Increase Decrease In Accounts Payable
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7584000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
13382000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
5763000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-4459000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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us-gaap Increase Decrease In Other Noncurrent Assets
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-178000
us-gaap Increase Decrease In Other Noncurrent Assets
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43000
us-gaap Increase Decrease In Other Noncurrent Liabilities
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-49000
us-gaap Increase Decrease In Other Noncurrent Liabilities
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-360000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-129512000
us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
369272000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
239470000
rvmd Proceeds From Maturity Of Marketable Securities
ProceedsFromMaturityOfMarketableSecurities
332601000
rvmd Proceeds From Maturity Of Marketable Securities
ProceedsFromMaturityOfMarketableSecurities
350311000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2877000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4415000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-39548000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
106426000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
323706000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
rvmd Proceeds From Issuance Of Common Stock From At The Market Offering
ProceedsFromIssuanceOfCommonStockFromAtTheMarketOffering
62053000
rvmd Proceeds From Issuance Of Common Stock From At The Market Offering
ProceedsFromIssuanceOfCommonStockFromAtTheMarketOffering
0
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
967000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
495000
rvmd Proceeds From Issuance Of Common Stock Under Employee Stock Purchase Plan
ProceedsFromIssuanceOfCommonStockUnderEmployeeStockPurchasePlan
2109000
rvmd Proceeds From Issuance Of Common Stock Under Employee Stock Purchase Plan
ProceedsFromIssuanceOfCommonStockUnderEmployeeStockPurchasePlan
1239000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
388835000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1734000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
219775000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2716000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
163149000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
110234000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
382924000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
107518000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
380330000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
105781000
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
2594000
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
1737000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
382924000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
107518000
rvmd Vesting Of Early Exercised Options And Restricted Stock
VestingOfEarlyExercisedOptionsAndRestrictedStock
0
rvmd Vesting Of Early Exercised Options And Restricted Stock
VestingOfEarlyExercisedOptionsAndRestrictedStock
55000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2030000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2930000
rvmd Unpaid Deferred Offering Costs
UnpaidDeferredOfferingCosts
14000
rvmd Unpaid Deferred Offering Costs
UnpaidDeferredOfferingCosts
17000
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-867700000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;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:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;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:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, clinical accruals, valuation of in-process research and development and developed technologies, income taxes, useful lives of property and equipment and intangible assets, impairment of goodwill and intangibles, impairment of in-process research and development and developed technologies, the incremental borrowing rate for determining operating lease assets and liabilities and stock-based compensation. The extent to which the COVID-19 pandemic may directly or indirectly impact the Company’s business, financial condition and results of operations is highly uncertain and subject to change. The Company considered the potential impact of the COVID-19 pandemic on its estimates and assumptions and there was not a material impact to the Company’s unaudited condensed consolidated financial statements as of and for the three and six months ended June 30, 2023. Actual results could materially differ from the Company’s estimates, and there may be changes to the estimates in future periods</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:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">.</span>
CY2023Q2 rvmd Fair Value Level1 Level2 Level3 Transfers Amount
FairValueLevel1Level2Level3TransfersAmount
0
CY2022Q4 rvmd Fair Value Level1 Level2 Level3 Transfers Amount
FairValueLevel1Level2Level3TransfersAmount
0
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
912824000
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
42000
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1293000
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
911573000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
647465000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
47000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1827000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
645685000
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
912824000
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
42000
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1293000
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
911573000
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
36547000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
33148000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
16829000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
14489000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19718000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18659000
CY2023Q2 us-gaap Depreciation
Depreciation
1200000
CY2022Q2 us-gaap Depreciation
Depreciation
900000
us-gaap Depreciation
Depreciation
2400000
us-gaap Depreciation
Depreciation
1800000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2473000
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
55800000
CY2023Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
9164000
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
13281000
CY2023Q2 rvmd Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
32125000
CY2022Q4 rvmd Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
15161000
CY2023Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
918000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
499000
CY2023Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
350000
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
505000
CY2023Q2 rvmd Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
42557000
CY2022Q4 rvmd Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
29446000
CY2023Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
55800000
CY2023Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
55800000
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7480000
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5007000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2473000
CY2023Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P2Y4M24D
CY2023Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
63280000
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5007000
CY2023Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
58273000
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
535000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1069000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
869000
us-gaap Operating Lease Payments
OperatingLeasePayments
900000
us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
1700
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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74280590
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74280590
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100891375
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100891375
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74221803
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
55800000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7480000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4473000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3007000
CY2022Q4 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P2Y10M24D
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
63280000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4473000
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
58807000
CY2022Q4 us-gaap Goodwill
Goodwill
14608000
us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
0
CY2023Q2 us-gaap Goodwill
Goodwill
14608000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5718000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6773000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
57538000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
57432000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
63256000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
64205000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1900000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1400000
us-gaap Sublease Income
SubleaseIncome
0
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
800000
us-gaap Operating Lease Cost
OperatingLeaseCost
3700000
us-gaap Operating Lease Cost
OperatingLeaseCost
2800000
us-gaap Sublease Income
SubleaseIncome
300000
us-gaap Sublease Income
SubleaseIncome
1600000
CY2023Q2 us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
300000
CY2022Q2 us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
1000000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3450000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
7100000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
7349000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
7606000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7872000
CY2023Q2 rvmd Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
73717000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
107094000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
42838000
CY2023Q2 rvmd Lessee Operating Lease Liability Tenant Improvement Allowance
LesseeOperatingLeaseLiabilityTenantImprovementAllowance
1000000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
63256000
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.084
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12Y6M
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y10M24D
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each share of common stock is entitled to one vote
CY2023Q2 rvmd Number Of Voting Rights Per Common Share
NumberOfVotingRightsPerCommonShare
1
us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2023Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
22627183
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
17766601
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
83500000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y11M23D
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12980000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8098000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22679000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14742000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-98298000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-61222000
us-gaap Net Income Loss
NetIncomeLoss
-166396000
us-gaap Net Income Loss
NetIncomeLoss
-118869000
CY2023Q2 rvmd Weighted Average Number Of Shares Issued Basic And Diluted
WeightedAverageNumberOfSharesIssuedBasicAndDiluted
106885561
CY2022Q2 rvmd Weighted Average Number Of Shares Issued Basic And Diluted
WeightedAverageNumberOfSharesIssuedBasicAndDiluted
74298307
rvmd Weighted Average Number Of Shares Issued Basic And Diluted
WeightedAverageNumberOfSharesIssuedBasicAndDiluted
100894443
rvmd Weighted Average Number Of Shares Issued Basic And Diluted
WeightedAverageNumberOfSharesIssuedBasicAndDiluted
74237943
CY2023Q2 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
1376
CY2022Q2 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
17717
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
3068
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
16140
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
106884185
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
106884185
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74221803
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.92
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.92
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.82
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.82
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.65
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.65
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.6
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.6
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13045999
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9529200

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