$RVMD
Revolution Medicines, Inc.

2024 Q1 Form 10-K Financial Statement

#000095017024020145 Filed on February 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $742.0K $11.58M
YoY Change -100.0% -95.16% -67.27%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $22.84M $32.24M $75.62M
YoY Change 72.7% 195.55% 86.32%
% of Gross Profit
Research & Development $118.0M $148.5M $423.1M
YoY Change 71.18% 124.54% 67.2%
% of Gross Profit
Depreciation & Amortization $1.500M $1.610M $5.042M
YoY Change 24.48% 13.62% 26.94%
% of Gross Profit
Operating Expenses $140.9M $180.7M $498.8M
YoY Change 71.42% 134.6% 69.84%
Operating Profit -$140.9M -$487.2M
YoY Change 87.42% 88.63%
Interest Expense $23.76M $18.67M $47.18M
YoY Change 236.59% 267.82%
% of Operating Profit
Other Income/Expense, Net $24.86M $115.0K $47.29M
YoY Change 252.12% 416.65%
Pretax Income -$116.0M -$161.2M -$439.9M
YoY Change 70.35% 184.64% 76.57%
Income Tax $0.00 $343.0K -$3.500M
% Of Pretax Income
Net Earnings -$116.0M -$161.5M -$436.4M
YoY Change 70.35% 185.87% 75.46%
Net Earnings / Revenue -21770.49% -3768.28%
Basic Earnings Per Share -$0.70 -$3.86
Diluted Earnings Per Share -$0.70 -$1.14 -$3.86
COMMON SHARES
Basic Shares Outstanding 164.7M 109.6M 113.1M
Diluted Shares Outstanding 164.7M 113.1M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.704B $1.853B $1.853B
YoY Change 87.24% 187.31% 187.31%
Cash & Equivalents $288.4M $696.1M $696.1M
Short-Term Investments $1.415B $1.157B $1.157B
Other Short-Term Assets $25.66M $25.07M $25.07M
YoY Change 186.47% 137.22% 137.22%
Inventory
Prepaid Expenses
Receivables $0.00 $1.254M $1.254M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.729B $1.879B $1.879B
YoY Change 87.4% 184.66% 184.66%
LONG-TERM ASSETS
Property, Plant & Equipment $23.70M $22.87M $100.0M
YoY Change 27.84% 22.54% 35.64%
Goodwill $14.61M $14.61M
YoY Change 0.0% 0.0%
Intangibles $57.47M $57.74M
YoY Change -1.82% -1.82%
Long-Term Investments
YoY Change
Other Assets $4.159M $7.032M $10.06M
YoY Change 50.04% 146.13% 119.05%
Total Long-Term Assets $179.2M $182.4M $182.4M
YoY Change 19.05% 20.22% 20.22%
TOTAL ASSETS
Total Short-Term Assets $1.729B $1.879B $1.879B
Total Long-Term Assets $179.2M $182.4M $182.4M
Total Assets $1.908B $2.062B $2.062B
YoY Change 77.81% 153.93% 153.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.38M $61.79M $61.79M
YoY Change 62.61% 190.0% 190.0%
Accrued Expenses $60.60M $78.17M $78.17M
YoY Change 84.24% 118.87% 118.87%
Deferred Revenue $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 $93.72M $143.9M $143.9M
YoY Change 71.54% 132.08% 132.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.040M $1.458M $88.55M
YoY Change 79.46% 384.39% 53.37%
Total Long-Term Liabilities $3.040M $1.458M $88.55M
YoY Change 79.46% 384.39% 53.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $93.72M $143.9M $143.9M
Total Long-Term Liabilities $3.040M $1.458M $88.55M
Total Liabilities $182.9M $235.5M $235.5M
YoY Change 51.12% 85.82% 85.82%
SHAREHOLDERS EQUITY
Retained Earnings -$1.300B -$1.100B
YoY Change 68.96% 56.85%
Common Stock $2.980B $2.963B
YoY Change 73.06% 113.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.725B $1.826B $1.826B
YoY Change
Total Liabilities & Shareholders Equity $1.908B $2.062B $2.062B
YoY Change 77.81% 153.93% 153.93%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$116.0M -$161.5M -$436.4M
YoY Change 70.35% 185.87% 75.46%
Depreciation, Depletion And Amortization $1.500M $1.610M $5.042M
YoY Change 24.48% 13.62% 26.94%
Cash From Operating Activities -$160.6M -$120.6M -$350.6M
YoY Change 157.34% 95.12% 56.23%
INVESTING ACTIVITIES
Capital Expenditures $3.167M $2.319M $7.729M
YoY Change 80.15% -19.37% -28.54%
Acquisitions
YoY Change
Other Investing Activities -$244.8M -$378.1M -$334.9M
YoY Change -4354.41% 8842.5% 2417.81%
Cash From Investing Activities -$248.0M -$380.4M -$342.6M
YoY Change -6305.36% 5254.7% 1320.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $323.7M
YoY Change 30.46%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 810.0K 839.4M 1.229B
YoY Change -99.75% 1534.15% 307.79%
NET CHANGE
Cash From Operating Activities -160.6M -120.6M -350.6M
Cash From Investing Activities -248.0M -380.4M -342.6M
Cash From Financing Activities 810.0K 839.4M 1.229B
Net Change In Cash -407.7M 338.4M 536.0M
YoY Change -253.39% -2030.46% 913.0%
FREE CASH FLOW
Cash From Operating Activities -$160.6M -$120.6M -$350.6M
Capital Expenditures $3.167M $2.319M $7.729M
Free Cash Flow -$163.7M -$122.9M -$358.3M
YoY Change 155.23% 90.03% 52.33%

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<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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 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 accounting for acquisitions including the fair value of assets acquired and liabilities assumed and related purchase price allocation, 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, the incremental borrowing rate for determining operating lease assets and liabilities, and stock-based compensation. Estimates are based on historical experience, complex judgments, facts and circumstances available at the time and various other assumptions that are believed to be reasonable under the circumstances but are inherently uncertain and unpredictable. </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Actual results could materially differ from the Company’s estimates, and there may be changes to the estimates in future periods.</span></p>
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CY2023Q4 ecd Trd Arr Adoption Date
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December 1, 2023
CY2023Q4 ecd Trd Arr Ind Name
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Mark A. Goldsmith
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M.D., Ph.D., the Company’s President and Chief Executive Officer and Chair of the Board of Directors
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March 31, 2025

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