$RVNC
Revance Therapeutics, Inc. Stock $rvnc

$rvnc Overview Financials Valuation SEC Filings Company Website

2016 Q1 Form 10-Q Financial Statement

#000147929016000039 Filed on May 10, 2016

Income Statement

Concept	2016 Q1	2015 Q1
Revenue	$75.00K	$75.00K
YoY Change	0.0%	-52.53%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$7.455M	$5.996M
YoY Change	24.33%	46.49%
% of Gross Profit
Research & Development	$12.36M	$9.254M
YoY Change	33.61%	22.55%
% of Gross Profit
Depreciation & Amortization	$344.0K	$531.0K
YoY Change	-35.22%	8.81%
% of Gross Profit
Operating Expenses	$19.82M	$15.25M
YoY Change	29.96%	30.97%
Operating Profit	-$19.74M	-$15.18M
YoY Change	30.11%	32.12%
Interest Expense	$315.0K	$165.0K
YoY Change	90.91%	-98.32%
% of Operating Profit
Other Income/Expense, Net	-$125.0K	-$47.00K
YoY Change	165.96%
Pretax Income	-$19.89M	-$15.40M
YoY Change	29.16%	-28.12%
Income Tax
% Of Pretax Income
Net Earnings	-$19.89M	-$15.40M
YoY Change	29.13%	-28.12%
Net Earnings / Revenue	-26517.33%	-20536.0%
Basic Earnings Per Share	-$0.71	-$0.65
Diluted Earnings Per Share	-$0.71	-$0.65
COMMON SHARES
Basic Shares Outstanding	28.01M shares	23.54M shares
Diluted Shares Outstanding	28.01M shares	23.54M shares

Balance Sheet

Concept	2016 Q1	2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$236.6M	$153.7M
YoY Change	53.94%	74.86%
Cash & Equivalents	$40.79M	$153.7M
Short-Term Investments	$195.8M
Other Short-Term Assets	$1.900M	$1.900M
YoY Change	0.0%	7207.69%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$238.5M	$155.7M
YoY Change	53.18%	70.76%
LONG-TERM ASSETS
Property, Plant & Equipment	$19.71M	$19.39M
YoY Change	1.67%	27.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$0.00
YoY Change
Other Assets	$216.0K	$243.0K
YoY Change	-11.11%	56.77%
Total Long-Term Assets	$20.51M	$20.03M
YoY Change	2.38%	27.27%
TOTAL ASSETS
Total Short-Term Assets	$238.5M	$155.7M
Total Long-Term Assets	$20.51M	$20.03M
Total Assets	$259.0M	$175.7M
YoY Change	47.39%	64.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$3.307M	$2.089M
YoY Change	58.31%	-43.37%
Accrued Expenses	$5.925M	$4.019M
YoY Change	47.42%	-27.13%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$3.300M	$300.0K
YoY Change	1000.0%	-97.76%
Total Short-Term Liabilities	$12.49M	$6.427M
YoY Change	94.31%	-71.57%
LONG-TERM LIABILITIES
Long-Term Debt	$4.500M	$500.0K
YoY Change	800.0%	25.0%
Other Long-Term Liabilities	$5.200M	$5.300M
YoY Change	-1.89%	1.92%
Total Long-Term Liabilities	$9.700M	$5.800M
YoY Change	67.24%	3.57%
TOTAL LIABILITIES
Total Short-Term Liabilities	$12.49M	$6.427M
Total Long-Term Liabilities	$9.700M	$5.800M
Total Liabilities	$22.15M	$12.26M
YoY Change	80.59%	-56.55%
SHAREHOLDERS EQUITY
Retained Earnings	-$352.2M	-$274.2M
YoY Change	28.43%	26.18%
Common Stock	$588.8M	$437.7M
YoY Change	34.54%	47.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$236.9M	$163.5M
YoY Change
Total Liabilities & Shareholders Equity	$259.0M	$175.7M
YoY Change	47.39%	64.36%

Cashflow Statement

Concept	2016 Q1	2015 Q1
OPERATING ACTIVITIES
Net Income	-$19.89M	-$15.40M
YoY Change	29.13%	-28.12%
Depreciation, Depletion And Amortization	$344.0K	$531.0K
YoY Change	-35.22%	8.81%
Cash From Operating Activities	-$15.68M	-$13.03M
YoY Change	20.37%	-38.28%
INVESTING ACTIVITIES
Capital Expenditures	$690.0K	$1.801M
YoY Change	-61.69%	82.84%
Acquisitions
YoY Change
Other Investing Activities	-$143.9M	$80.00K
YoY Change	-179912.5%	0.0%
Cash From Investing Activities	-$144.4M	-$1.726M
YoY Change	8265.82%	89.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$603.0K	-$2.563M
YoY Change	-76.47%	-102.42%
NET CHANGE
Cash From Operating Activities	-$15.68M	-$13.03M
Cash From Investing Activities	-$144.4M	-$1.726M
Cash From Financing Activities	-$603.0K	-$2.563M
Net Change In Cash	-$160.7M	-$17.32M
YoY Change	827.96%	-120.63%
FREE CASH FLOW
Cash From Operating Activities	-$15.68M	-$13.03M
Capital Expenditures	$690.0K	$1.801M
Free Cash Flow	-$16.37M	-$14.83M
YoY Change	10.41%	-32.88%

Facts In Submission

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CY2016Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2016
CY2016Q1	dei	Document Period End Date DocumentPeriodEndDate	2016-03-31
CY2016Q1	dei	Document Type DocumentType	10-Q
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CY2015Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	173000	USD
CY2016Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	509000	USD
CY2015Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	19708000	USD
CY2016Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	19714000	USD
CY2016Q1	us-gaap	Purchase Obligation PurchaseObligation	20700000	USD
CY2015Q1	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	84000	USD
CY2016Q1	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	851000	USD
CY2015Q1	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	2652000	USD
CY2016Q1	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	0	USD
CY2015Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	9254000	USD
CY2016Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	12364000	USD
CY2016Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	7455000	USD
CY2015Q4	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	35000	USD
CY2016Q1	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	0	USD
CY2015Q4	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	400000	USD
CY2016Q1	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	580000	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-332273000	USD
CY2016Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-352161000	USD
CY2015Q1	us-gaap	Revenues Revenues	75000	USD
CY2016Q1	us-gaap	Revenues Revenues	75000	USD
CY2015Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	5996000	USD
CY2015Q1	us-gaap	Share Based Compensation ShareBasedCompensation	2317000	USD
CY2016Q1	us-gaap	Share Based Compensation ShareBasedCompensation	2977000	USD
CY2015Q4	us-gaap	Short Term Investments ShortTermInvestments	50688000	USD
CY2016Q1	us-gaap	Short Term Investments ShortTermInvestments	195815000	USD
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	253252000	USD
CY2016Q1	us-gaap	Stockholders Equity StockholdersEquity	236852000	USD
CY2015Q4	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	0	USD
CY2016Q1	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	0	USD
CY2015Q4	us-gaap	Temporary Equity Par Or Stated Value Per Share TemporaryEquityParOrStatedValuePerShare	0.001
CY2016Q1	us-gaap	Temporary Equity Par Or Stated Value Per Share TemporaryEquityParOrStatedValuePerShare	0.001
CY2015Q4	us-gaap	Temporary Equity Shares Authorized TemporaryEquitySharesAuthorized	5000000	shares
CY2016Q1	us-gaap	Temporary Equity Shares Authorized TemporaryEquitySharesAuthorized	5000000	shares
CY2015Q4	us-gaap	Temporary Equity Shares Issued TemporaryEquitySharesIssued	0	shares
CY2016Q1	us-gaap	Temporary Equity Shares Issued TemporaryEquitySharesIssued	0	shares
CY2015Q4	us-gaap	Temporary Equity Shares Outstanding TemporaryEquitySharesOutstanding	0	shares
CY2016Q1	us-gaap	Temporary Equity Shares Outstanding TemporaryEquitySharesOutstanding	0	shares
CY2015Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	23535080	shares
CY2016Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	28005611	shares
CY2015Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	23535080	shares
CY2016Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	28005611	shares
CY2016Q1	us-gaap	Loss Contingency Disclosures LossContingencyDisclosures	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Medicis Settlement</font></div><div style="line-height:120%;padding-top:16px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In July 2009, the Company and Medicis Pharmaceutical Corporation, or Medicis, entered into a license agreement granting Medicis worldwide aesthetic and dermatological rights to the Company’s investigational, injectable botulinum toxin type A product candidate. In October 2012, the Company entered into a settlement and termination agreement with Medicis. The terms of the settlement provided for the reacquisition of the rights related to all territories of RT001 topical and RT002 injectable from Medicis and for consideration payable by the Company to Medicis of up to </font><font style="font-family:inherit;font-size:10pt;">$25.0 million</font><font style="font-family:inherit;font-size:10pt;">, comprised of (i) an upfront payment of </font><font style="font-family:inherit;font-size:10pt;">$7.0 million</font><font style="font-family:inherit;font-size:10pt;">, which was paid in 2012, (ii) a Proceeds Sharing Arrangement Payment of </font><font style="font-family:inherit;font-size:10pt;">$14.0 million</font><font style="font-family:inherit;font-size:10pt;"> due upon specified capital raising achievements by the Company, of which </font><font style="font-family:inherit;font-size:10pt;">$6.9 million</font><font style="font-family:inherit;font-size:10pt;"> was paid in 2013 and </font><font style="font-family:inherit;font-size:10pt;">$7.1 million</font><font style="font-family:inherit;font-size:10pt;"> in 2014, and (iii) </font><font style="font-family:inherit;font-size:10pt;">$4.0 million</font><font style="font-family:inherit;font-size:10pt;"> to be paid upon the achievement of regulatory approval for RT001 topical or RT002 injectable by the Company, or Product Approval Payment. Medicis was subsequently acquired by Valeant Pharmaceuticals International, Inc. in December 2012.</font></div><div style="line-height:120%;padding-top:16px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company determined that the settlement provisions related to the Proceeds Sharing Arrangement Payment in (ii) above and Product Approval Payment in (iii) above were derivative instruments that require fair value accounting as a liability and periodic fair value remeasurements until settled. </font></div><div style="line-height:120%;padding-top:16px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> The Proceeds Sharing Arrangement Payment derivative was settled upon completion of our IPO. As of </font><font style="font-family:inherit;font-size:10pt;">March 31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company determined the fair value of its liability for the Product Approval Payment was </font><font style="font-family:inherit;font-size:10pt;">$1.4 million</font><font style="font-family:inherit;font-size:10pt;">, which was measured by assuming a term of </font><font style="font-family:inherit;font-size:10pt;">3.25</font><font style="font-family:inherit;font-size:10pt;"> years, a risk-free rate of </font><font style="font-family:inherit;font-size:10pt;">0.91%</font><font style="font-family:inherit;font-size:10pt;"> and a credit risk adjustment of </font><font style="font-family:inherit;font-size:10pt;">10.00%</font><font style="font-family:inherit;font-size:10pt;">. The Company’s assumption for the expected term is based on an expected Biologics License Application, or BLA, approval in 2019. The Company did not make any payments under the Product Approval Payment during the quarter ended </font><font style="font-family:inherit;font-size:10pt;">March 31, 2016</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div>
CY2016Q1	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of Condensed Consolidated Financial Statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Such management estimates include accruals, stock-based compensation, fair value of derivative liability associated with Medicis settlement, 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.</font></div></div>

Files In Submission

Name	View Source	Status
0001479290-16-000039-index-headers.html	Edgar Link	pending
0001479290-16-000039-index.html	Edgar Link	pending
0001479290-16-000039.txt	Edgar Link	pending
0001479290-16-000039-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
R1.htm	Edgar Link	pending
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report.css	Edgar Link	pending
rvnc-20160331.xml	Edgar Link	completed
rvnc-20160331.xsd	Edgar Link	pending
rvnc-20160331_cal.xml	Edgar Link	unprocessable
rvnc-20160331_def.xml	Edgar Link	unprocessable
rvnc-20160331_lab.xml	Edgar Link	unprocessable
rvnc-20160331_pre.xml	Edgar Link	unprocessable
rvnc-q116exhibit311.htm	Edgar Link	pending
rvnc-q116exhibit312.htm	Edgar Link	pending
rvnc-q116exhibit321.htm	Edgar Link	pending
rvnc-q116exhibit322.htm	Edgar Link	pending
rvncq11610q.htm	Edgar Link	pending
Show.js	Edgar Link	pending

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$RVNC
Revance Therapeutics, Inc. Stock $rvnc

2016 Q1 Form 10-Q Financial Statement

#000147929016000039 Filed on May 10, 2016

Income Statement

Balance Sheet

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$RVNC Revance Therapeutics, Inc. Stock $rvnc

2016 Q1 Form 10-Q Financial Statement

#000147929016000039 Filed on May 10, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$RVNC
Revance Therapeutics, Inc. Stock $rvnc