$RVMD
Revolution Medicines, Inc.

2021 Q2 Form 10-Q Financial Statement

#000156459021043424 Filed on August 11, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $8.698M $10.03M
YoY Change -13.24% -18.37%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.297M $5.090M
YoY Change 43.36% 86.45%
% of Gross Profit
Research & Development $45.94M $32.92M
YoY Change 39.55% 63.63%
% of Gross Profit
Depreciation & Amortization $1.069M $900.0K
YoY Change 18.78% 12.5%
% of Gross Profit
Operating Expenses $45.94M $38.01M
YoY Change 20.86% 66.4%
Operating Profit -$44.54M -$27.98M
YoY Change 59.14% 164.97%
Interest Expense $236.0K $19.00K
YoY Change 1142.11% -95.68%
% of Operating Profit
Other Income/Expense, Net $236.0K $711.0K
YoY Change -66.81% 60.86%
Pretax Income -$44.30M -$27.27M
YoY Change 62.43% 169.52%
Income Tax $0.00 -$58.00K
% Of Pretax Income
Net Earnings -$44.30M -$27.22M
YoY Change 62.77% 168.95%
Net Earnings / Revenue -509.3% -271.47%
Basic Earnings Per Share
Diluted Earnings Per Share -$603.5K -$463.3K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $646.3M $325.4M
YoY Change 98.62%
Cash & Equivalents $195.6M $23.98M
Short-Term Investments $450.7M $301.5M
Other Short-Term Assets $8.162M $7.600M
YoY Change 7.39%
Inventory
Prepaid Expenses
Receivables $6.527M
Other Receivables $0.00
Total Short-Term Assets $661.0M $340.4M
YoY Change 94.2%
LONG-TERM ASSETS
Property, Plant & Equipment $10.74M $7.102M
YoY Change 51.28%
Goodwill $14.61M $14.61M
YoY Change 0.0%
Intangibles $60.41M $61.48M
YoY Change -1.74%
Long-Term Investments
YoY Change
Other Assets $1.348M $411.0K
YoY Change 227.98%
Total Long-Term Assets $113.0M $113.6M
YoY Change -0.48%
TOTAL ASSETS
Total Short-Term Assets $661.0M $340.4M
Total Long-Term Assets $113.0M $113.6M
Total Assets $774.0M $454.0M
YoY Change 70.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.44M $10.17M
YoY Change 2.58%
Accrued Expenses $26.93M $18.80M
YoY Change 43.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K
YoY Change
Total Short-Term Liabilities $45.80M $43.74M
YoY Change 4.72%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $35.80M $691.0K
YoY Change 5080.17%
Total Long-Term Liabilities $35.80M $691.0K
YoY Change 5080.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.80M $43.74M
Total Long-Term Liabilities $35.80M $691.0K
Total Liabilities $89.04M $93.46M
YoY Change -4.73%
SHAREHOLDERS EQUITY
Retained Earnings -$347.0M -$204.1M
YoY Change 70.0%
Common Stock $564.3M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $685.0M $360.5M
YoY Change
Total Liabilities & Shareholders Equity $774.0M $454.0M
YoY Change 70.51%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$44.30M -$27.22M
YoY Change 62.77% 168.95%
Depreciation, Depletion And Amortization $1.069M $900.0K
YoY Change 18.78% 12.5%
Cash From Operating Activities -$34.08M -$19.99M
YoY Change 70.47% 73.83%
INVESTING ACTIVITIES
Capital Expenditures -$1.311M -$480.0K
YoY Change 173.12% -176.19%
Acquisitions
YoY Change
Other Investing Activities -$121.5M -$136.0M
YoY Change -10.7% 145.9%
Cash From Investing Activities -$122.8M -$136.5M
YoY Change -10.04% 143.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 872.0K -1.330M
YoY Change -165.56% -101.47%
NET CHANGE
Cash From Operating Activities -34.08M -19.99M
Cash From Investing Activities -122.8M -136.5M
Cash From Financing Activities 872.0K -1.330M
Net Change In Cash -156.0M -157.8M
YoY Change -1.15% -794.28%
FREE CASH FLOW
Cash From Operating Activities -$34.08M -$19.99M
Capital Expenditures -$1.311M -$480.0K
Free Cash Flow -$32.77M -$19.51M
YoY Change 67.94% 60.84%

Facts In Submission

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1069000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
870000
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2020Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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CY2020Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
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CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2335000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5145000
CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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63280000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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2335000
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
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60945000
CY2020Q4 us-gaap Goodwill
Goodwill
14608000
us-gaap Goodwill Translation And Purchase Accounting Adjustments
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0
CY2021Q2 us-gaap Goodwill
Goodwill
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us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021Q2 us-gaap Operating Lease Liability Current
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4926000
CY2020Q4 us-gaap Operating Lease Liability Current
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3672000
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
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27566000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
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CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
32492000
CY2020Q4 us-gaap Operating Lease Liability
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CY2020Q4 us-gaap Finance Lease Liability Current
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19000
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
19000
CY2021Q2 rvmd Lease Liabilities
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32492000
CY2020Q4 rvmd Lease Liabilities
LeaseLiabilities
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CY2021Q2 us-gaap Operating Lease Cost
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500000
CY2020Q2 us-gaap Operating Lease Cost
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700000
CY2021Q2 us-gaap Sublease Income
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500000
CY2020Q2 us-gaap Sublease Income
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500000
CY2021Q2 rvmd Tenant Improvement Allowance Credits
TenantImprovementAllowanceCredits
100000
CY2020Q2 rvmd Tenant Improvement Allowance Credits
TenantImprovementAllowanceCredits
100000
us-gaap Operating Lease Cost
OperatingLeaseCost
1300000
us-gaap Operating Lease Cost
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1100000
us-gaap Sublease Income
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1100000
us-gaap Sublease Income
SubleaseIncome
900000
rvmd Tenant Improvement Allowance Credits
TenantImprovementAllowanceCredits
100000
rvmd Tenant Improvement Allowance Credits
TenantImprovementAllowanceCredits
100000
CY2021Q2 us-gaap Proceeds From Lease Payments
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500000
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
500000
us-gaap Operating Lease Payments
OperatingLeasePayments
200000
us-gaap Operating Lease Payments
OperatingLeasePayments
1300000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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2508000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5144000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4173000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4215000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4363000
CY2021Q2 rvmd Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
24213000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
44616000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
12124000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
32492000
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.071
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y9M18D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y1M6D
CY2021Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0
CY2020Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q4 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
CY2021Q2 rvmd Number Of Voting Rights Per Common Share
NumberOfVotingRightsPerCommonShare
1
us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2021Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
14196665
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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CY2021Q2 rvmd Shares Of Common Stock Subject To Repurchase
SharesOfCommonStockSubjectToRepurchase
71549
CY2020Q4 rvmd Shares Of Common Stock Subject To Repurchase
SharesOfCommonStockSubjectToRepurchase
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CY2021Q2 rvmd Exercise Price Of Early Exercised Shares Of Common Stock
ExercisePriceOfEarlyExercisedSharesOfCommonStock
200000
CY2020Q4 rvmd Exercise Price Of Early Exercised Shares Of Common Stock
ExercisePriceOfEarlyExercisedSharesOfCommonStock
200000
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
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us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y6M
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
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CY2020Q2 us-gaap Allocated Share Based Compensation Expense
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2017000
us-gaap Allocated Share Based Compensation Expense
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8700000
us-gaap Allocated Share Based Compensation Expense
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3584000
CY2021Q2 us-gaap Net Income Loss
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-44299000
CY2020Q2 us-gaap Net Income Loss
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-27215000
us-gaap Net Income Loss
NetIncomeLoss
-81475000
us-gaap Net Income Loss
NetIncomeLoss
-46734000
rvmd Redeemable Convertible Preferred Stock Dividends Undeclared And Cumulative
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2219000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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-27215000
us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021Q2 rvmd Weighted Average Number Of Shares Issued Basic And Diluted
WeightedAverageNumberOfSharesIssuedBasicAndDiluted
73480020
CY2020Q2 rvmd Weighted Average Number Of Shares Issued Basic And Diluted
WeightedAverageNumberOfSharesIssuedBasicAndDiluted
59013236
rvmd Weighted Average Number Of Shares Issued Basic And Diluted
WeightedAverageNumberOfSharesIssuedBasicAndDiluted
72005252
rvmd Weighted Average Number Of Shares Issued Basic And Diluted
WeightedAverageNumberOfSharesIssuedBasicAndDiluted
44314960
CY2021Q2 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
80306
CY2020Q2 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
260742
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
87744
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
289588
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
73399714
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
58752494
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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71917508
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
44025372
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
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-0.60
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.46
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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6614755
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6083832

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