$SGMO
SANGAMO THERAPEUTICS, INC

2023 Q3 Form 10-Q Financial Statement

#000162828023028200 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $9.398M $6.835M
YoY Change -64.48% -76.73%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $13.90M $16.01M
YoY Change -14.4% 6.1%
% of Gross Profit
Research & Development $57.09M $63.05M
YoY Change -12.33% 5.04%
% of Gross Profit
Depreciation & Amortization $5.500M $4.256M
YoY Change 80.39% 47.57%
% of Gross Profit
Operating Expenses $115.8M $130.4M
YoY Change 42.35% 73.62%
Operating Profit -$106.4M -$123.6M
YoY Change 93.84% 170.2%
Interest Expense $3.500M $2.802M
YoY Change 97.85% 6.02%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$102.9M -$120.8M
YoY Change 93.68% 180.27%
Income Tax $1.300M -$6.300M
% Of Pretax Income
Net Earnings -$104.2M -$114.5M
YoY Change 95.96% 165.23%
Net Earnings / Revenue -1108.35% -1675.29%
Basic Earnings Per Share -$0.59 -$0.66
Diluted Earnings Per Share -$0.59 -$0.66
COMMON SHARES
Basic Shares Outstanding 177.1M shares 171.8M shares
Diluted Shares Outstanding 177.2M shares 174.3M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $132.1M $143.1M
YoY Change -57.87% -54.67%
Cash & Equivalents $56.51M $66.83M
Short-Term Investments $75.60M $76.27M
Other Short-Term Assets $13.70M $12.57M
YoY Change -23.92% -40.43%
Inventory
Prepaid Expenses
Receivables $1.148M $2.716M
Other Receivables $700.0K $1.219M
Total Short-Term Assets $147.6M $159.6M
YoY Change -56.16% -53.48%
LONG-TERM ASSETS
Property, Plant & Equipment $28.44M $60.72M
YoY Change -49.21% 13.49%
Goodwill $0.00 $0.00
YoY Change -100.0% -100.0%
Intangibles $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Investments $0.00 $39.04M
YoY Change -100.0% -18.62%
Other Assets $14.97M $17.44M
YoY Change -12.94% 8.22%
Total Long-Term Assets $72.12M $165.5M
YoY Change -71.97% -39.61%
TOTAL ASSETS
Total Short-Term Assets $147.6M $159.6M
Total Long-Term Assets $72.12M $165.5M
Total Assets $219.7M $325.1M
YoY Change -63.01% -47.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.46M $14.84M
YoY Change -11.06% 13.47%
Accrued Expenses $14.23M $18.96M
YoY Change 1.34% 33.51%
Deferred Revenue $1.485M $6.873M
YoY Change -97.93% -91.28%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $48.48M $53.79M
YoY Change -60.38% -55.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.318M $1.267M
YoY Change 0.46% -1.4%
Total Long-Term Liabilities $1.318M $1.267M
YoY Change 0.46% -1.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $48.48M $53.79M
Total Long-Term Liabilities $1.318M $1.267M
Total Liabilities $84.78M $91.43M
YoY Change -70.23% -69.4%
SHAREHOLDERS EQUITY
Retained Earnings -$1.346B -$1.242B
YoY Change 22.75% 19.02%
Common Stock $1.488B $1.481B
YoY Change 4.41% 7.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $134.9M $233.6M
YoY Change
Total Liabilities & Shareholders Equity $219.7M $325.1M
YoY Change -63.01% -47.32%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$104.2M -$114.5M
YoY Change 95.96% 165.23%
Depreciation, Depletion And Amortization $5.500M $4.256M
YoY Change 80.39% 47.57%
Cash From Operating Activities -$47.30M -$60.71M
YoY Change -11.78% 12.46%
INVESTING ACTIVITIES
Capital Expenditures $2.800M $5.540M
YoY Change -163.45% -201.74%
Acquisitions
YoY Change
Other Investing Activities $40.40M $48.01M
YoY Change -546.46% 41.73%
Cash From Investing Activities $37.60M $42.47M
YoY Change -379.3% 49.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -100.0K 6.519M
YoY Change -100.23% -71.5%
NET CHANGE
Cash From Operating Activities -47.30M -60.71M
Cash From Investing Activities 37.60M 42.47M
Cash From Financing Activities -100.0K 6.519M
Net Change In Cash -9.800M -11.72M
YoY Change -57.87% 337.14%
FREE CASH FLOW
Cash From Operating Activities -$47.30M -$60.71M
Capital Expenditures $2.800M $5.540M
Free Cash Flow -$50.10M -$66.25M
YoY Change 1.82% 36.49%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Use Of Estimates
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<div style="margin-top:9pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and the accompanying notes. On an ongoing basis, management evaluates its estimates including critical accounting policies or estimates related to revenue recognition, clinical trial accruals, income taxes, fair value of assets and liabilities, including from acquisitions, useful lives and impairment of long-lived assets, and stock-based compensation. Estimates are based on historical experience and on various other market specific and other relevant assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.</span></div>
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OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24325301 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18682780 shares
CY2020Q2 sgmo Collaboration Agreement Number Of Additional Product Targets
CollaborationAgreementNumberOfAdditionalProductTargets
7 product_target
CY2023Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
38100000 usd
CY2023Q1 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
11200000 usd
CY2023Q2 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
51300000 usd
us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
51300000 usd
sgmo Effective Income Tax Rate Reconciliation Reduction In Deferred Tax Liabilities Amount
EffectiveIncomeTaxRateReconciliationReductionInDeferredTaxLiabilitiesAmount
6300000 usd
CY2023Q2 sgmo Effective Income Tax Rate Reconciliation Reduction In Deferred Tax Liabilities Amount
EffectiveIncomeTaxRateReconciliationReductionInDeferredTaxLiabilitiesAmount
6300000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6790000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7918000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15067000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15609000 usd
CY2023Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
110 employee
CY2023Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.23
us-gaap Restructuring Charges
RestructuringCharges
5300000 usd
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
0 usd
us-gaap Restructuring Charges
RestructuringCharges
5337000 usd
us-gaap Payments For Restructuring
PaymentsForRestructuring
1180000 usd
us-gaap Restructuring Reserve Translation And Other Adjustment
RestructuringReserveTranslationAndOtherAdjustment
305000 usd
CY2023Q2 us-gaap Restructuring Reserve
RestructuringReserve
3852000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6300000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6100000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100000 usd

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