$RVNC
Revance Therapeutics, Inc.

2014 Q1 Form 10-Q Financial Statement

#000119312514199234 Filed on May 14, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1 2011
Revenue $158.0K $75.00K $560.0K
YoY Change 110.67% -62.5%
Cost Of Revenue $0.00 $10.00K
YoY Change
Gross Profit $158.0K $75.00K $550.0K
YoY Change 110.67% -62.5%
Gross Profit Margin 100.0% 100.0% 98.21%
Selling, General & Admin $4.093M $2.225M $5.560M
YoY Change 83.96% 53.45%
% of Gross Profit 2590.51% 2966.67% 1010.91%
Research & Development $7.551M $7.527M $22.74M
YoY Change 0.32% 45.31%
% of Gross Profit 4779.11% 10036.0% 4134.55%
Depreciation & Amortization $488.0K $453.0K $1.980M
YoY Change 7.73% 2.95%
% of Gross Profit 308.86% 604.0% 360.0%
Operating Expenses $11.64M $9.752M $28.29M
YoY Change 19.4% 47.09%
Operating Profit -$11.49M -$9.677M -$27.74M
YoY Change 18.69% 50.5%
Interest Expense $9.841M $12.62M -$17.30M
YoY Change -22.05% -264.8%
% of Operating Profit
Other Income/Expense, Net $0.00 $2.000K $170.0K
YoY Change -100.0% -105.0%
Pretax Income -$21.43M -$21.66M -$44.86M
YoY Change -1.07% 53.27%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$21.43M -$21.66M -$44.86M
YoY Change -1.07% 53.27% 53.49%
Net Earnings / Revenue -13560.76% -28876.0% -8011.25%
Basic Earnings Per Share -$1.93 $25.54
Diluted Earnings Per Share -$1.93 $21.00 -$2.529M
COMMON SHARES
Basic Shares Outstanding 11.09M shares 204.2K shares
Diluted Shares Outstanding 11.09M shares 635.7K shares

Balance Sheet

Concept 2014 Q1 2013 Q1 2011
SHORT-TERM ASSETS
Cash & Short-Term Investments $87.90M $26.90M $29.60M
YoY Change 226.77%
Cash & Equivalents $87.85M $26.91M $29.60M
Short-Term Investments
Other Short-Term Assets $26.00K $1.400M $500.0K
YoY Change -98.14%
Inventory
Prepaid Expenses $1.082M
Receivables $1.786M
Other Receivables $0.00
Total Short-Term Assets $91.17M $28.20M $30.10M
YoY Change 223.3%
LONG-TERM ASSETS
Property, Plant & Equipment $15.15M $6.900M $8.400M
YoY Change 119.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $155.0K $1.300M $1.400M
YoY Change -88.08%
Total Long-Term Assets $15.74M $8.200M $9.800M
YoY Change 91.95%
TOTAL ASSETS
Total Short-Term Assets $91.17M $28.20M $30.10M
Total Long-Term Assets $15.74M $8.200M $9.800M
Total Assets $106.9M $36.40M $39.90M
YoY Change 193.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.689M $3.700M $800.0K
YoY Change -0.3%
Accrued Expenses $5.515M $6.000M $2.700M
YoY Change -8.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $13.40M $8.400M $4.600M
YoY Change 59.52%
Total Short-Term Liabilities $22.61M $32.60M $8.900M
YoY Change -30.65%
LONG-TERM LIABILITIES
Long-Term Debt $400.0K $10.50M $64.90M
YoY Change -96.19%
Other Long-Term Liabilities $5.200M $5.500M $26.20M
YoY Change -5.45%
Total Long-Term Liabilities $5.600M $16.00M $91.10M
YoY Change -65.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.61M $32.60M $8.900M
Total Long-Term Liabilities $5.600M $16.00M $91.10M
Total Liabilities $28.23M $48.50M $100.0M
YoY Change -41.8%
SHAREHOLDERS EQUITY
Retained Earnings -$217.3M
YoY Change
Common Stock $296.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $78.69M -$12.20M -$60.00M
YoY Change
Total Liabilities & Shareholders Equity $106.9M $36.40M $39.90M
YoY Change 193.71%

Cashflow Statement

Concept 2014 Q1 2013 Q1 2011
OPERATING ACTIVITIES
Net Income -$21.43M -$21.66M -$44.86M
YoY Change -1.07% 53.27% 53.49%
Depreciation, Depletion And Amortization $488.0K $453.0K $1.980M
YoY Change 7.73% 2.95%
Cash From Operating Activities -$21.11M -$6.580M -$28.41M
YoY Change 220.76% -3.24%
INVESTING ACTIVITIES
Capital Expenditures $985.0K $325.0K -$150.0K
YoY Change 203.08% -506.25%
Acquisitions
YoY Change
Other Investing Activities $80.00K $80.00K $80.00K
YoY Change 0.0% 0.0%
Cash From Investing Activities -$910.0K -$250.0K -$80.00K
YoY Change 264.0% 2400.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $102.7M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $106.0M 29.66M 54.07M
YoY Change 257.23% -10692.86%
NET CHANGE
Cash From Operating Activities -$21.11M -6.580M -28.41M
Cash From Investing Activities -$910.0K -250.0K -80.00K
Cash From Financing Activities $106.0M 29.66M 54.07M
Net Change In Cash $83.94M 22.83M 25.58M
YoY Change 267.67% -422.0%
FREE CASH FLOW
Cash From Operating Activities -$21.11M -$6.580M -$28.41M
Capital Expenditures $985.0K $325.0K -$150.0K
Free Cash Flow -$22.09M -$6.905M -$28.26M
YoY Change 219.93% 2.75%

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CY2014Q1 dei Trading Symbol
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Revance Therapeutics, Inc.
CY2014Q1 dei Amendment Flag
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If the Company experiences a greater than 50 percentage point aggregate change in ownership over a three-year period (a Section 382 ownership change), utilization of its pre-change net operating loss, or NOL, and credit carryforwards are subject to an annual limitation under Sections 382 and 383 of the Internal Revenue Code. California and New Jersey, where the Company files state tax returns, have similar laws. The annual limitation generally is determined by multiplying the value of the Company’s stock at the time of such ownership change (subject to certain adjustments) by the applicable long-term tax-exempt rate.
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2%; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of Condensed Consolidated Financial Statements in conformity with US&#xA0;GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and reported amounts of revenues and expenses during the reporting periods. Such management estimates include the fair value of common stock, stock-based compensation, fair value of convertible preferred stock and warrants, fair value of derivatives, and the valuation of deferred tax assets. The Company bases its estimates on historical experience and also on assumptions that it believes are reasonable, however, actual results could significantly differ from those estimates.</p> </div>
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