$SRRK
Scholar Rock Holding Corp

2020 Q4 Form 10-Q Financial Statement

#000155837020013265 Filed on November 09, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $3.440M $3.037M $4.774M
YoY Change -54.56% -36.38%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.760M $8.270M $6.180M
YoY Change 32.42% 33.82% 94.95%
% of Gross Profit
Research & Development $21.78M $18.38M $15.70M
YoY Change 488.65% 17.1% 94.78%
% of Gross Profit
Depreciation & Amortization $320.0K $390.0K $330.0K
YoY Change -15.79% 18.18% 57.14%
% of Gross Profit
Operating Expenses $29.54M $26.66M $21.88M
YoY Change 698.38% 21.82% 94.84%
Operating Profit -$23.62M -$17.11M
YoY Change 38.07%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$470.0K $57.00K $959.0K
YoY Change -161.04% -94.06%
Pretax Income -$26.57M -$23.56M -$16.15M
YoY Change 129.65% 45.88% 50.09%
Income Tax
% Of Pretax Income
Net Earnings -$26.57M -$23.56M -$16.15M
YoY Change 129.65% 45.92% 50.07%
Net Earnings / Revenue -772.38% -775.8% -338.23%
Basic Earnings Per Share -$0.79
Diluted Earnings Per Share -$782.9K -$0.79 -$552.5K
COMMON SHARES
Basic Shares Outstanding 33.64M 29.78M
Diluted Shares Outstanding 29.78M

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $341.0M $116.3M $176.1M
YoY Change 116.65% -33.96% 69.33%
Cash & Equivalents $160.4M $56.23M $32.64M
Short-Term Investments $180.7M $60.00M $143.4M
Other Short-Term Assets $3.400M $3.100M $3.200M
YoY Change 25.93% -3.13% 45.45%
Inventory
Prepaid Expenses
Receivables $0.00 $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $344.4M $119.4M $179.2M
YoY Change 86.0% -33.38% 68.74%
LONG-TERM ASSETS
Property, Plant & Equipment $8.121M $5.550M $9.000M
YoY Change 94.7% -38.33% 246.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.021M $1.050M $300.0K
YoY Change 941.84% 250.0% 50.0%
Total Long-Term Assets $43.90M $44.04M $9.300M
YoY Change 291.48% 373.55% 232.14%
TOTAL ASSETS
Total Short-Term Assets $344.4M $119.4M $179.2M
Total Long-Term Assets $43.90M $44.04M $9.300M
Total Assets $388.3M $163.4M $188.5M
YoY Change 97.73% -13.3% 72.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.409M $1.106M $3.000M
YoY Change 201.68% -63.13% 66.67%
Accrued Expenses $14.96M $10.97M $9.200M
YoY Change 55.65% 19.22% 170.59%
Deferred Revenue $18.82M $16.71M
YoY Change -10.07%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $42.56M $32.87M $32.50M
YoY Change 29.71% 1.14% 460.34%
LONG-TERM LIABILITIES
Long-Term Debt $24.68M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $5.000K $67.60M $34.20M
YoY Change -44.44% 97.66% 3700.0%
Total Long-Term Liabilities $24.69M $67.60M $34.20M
YoY Change 274177.78% 97.66% 3700.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.56M $32.87M $32.50M
Total Long-Term Liabilities $24.69M $67.60M $34.20M
Total Liabilities $127.5M $100.4M $66.80M
YoY Change 52.77% 50.37% 897.01%
SHAREHOLDERS EQUITY
Retained Earnings -$244.3M -$217.8M
YoY Change 54.79%
Common Stock $34.00K $30.00K
YoY Change 13.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $260.8M $62.98M $121.8M
YoY Change
Total Liabilities & Shareholders Equity $388.3M $163.4M $188.5M
YoY Change 97.73% -13.3% 72.94%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$26.57M -$23.56M -$16.15M
YoY Change 129.65% 45.92% 50.07%
Depreciation, Depletion And Amortization $320.0K $390.0K $330.0K
YoY Change -15.79% 18.18% 57.14%
Cash From Operating Activities -$19.68M -$23.40M -$15.11M
YoY Change 22.46% 54.86% 67.7%
INVESTING ACTIVITIES
Capital Expenditures -$1.980M -$1.830M -$370.0K
YoY Change 34.69% 394.59% -38.33%
Acquisitions
YoY Change
Other Investing Activities -$120.7M -$34.04M -$71.80M
YoY Change -632.05% -52.59%
Cash From Investing Activities -$122.6M -$35.88M -$72.17M
YoY Change -678.22% -50.28% 11928.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $215.9M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 246.5M 370.0K 6.130M
YoY Change 30327.16% -93.96% -519.86%
NET CHANGE
Cash From Operating Activities -19.68M -23.40M -15.11M
Cash From Investing Activities -122.6M -35.88M -72.17M
Cash From Financing Activities 246.5M 370.0K 6.130M
Net Change In Cash 104.1M -58.91M -81.15M
YoY Change 1650.25% -27.41% 633.06%
FREE CASH FLOW
Cash From Operating Activities -$19.68M -$23.40M -$15.11M
Capital Expenditures -$1.980M -$1.830M -$370.0K
Free Cash Flow -$17.70M -$21.57M -$14.74M
YoY Change 21.23% 46.34% 75.27%

Facts In Submission

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dei Document Type
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SCHOLAR ROCK HOLDING CORP
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OperatingLeaseRightOfUseAssetAmortizationExpense
742000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-25000000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4197000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1001000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
952000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
85000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-24000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-664000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1864000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
984000
srrk Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-818000
srrk Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-625000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-11967000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2114000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1645000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
79443000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
194608000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
140700000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
112800000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
8000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
59143000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-83445000
us-gaap Repayments Of Debt
RepaymentsOfDebt
365000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
48348000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1377000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
92000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-15000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-10000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1362000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
48065000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
19919000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-82428000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
38806000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
115274000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
58725000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32846000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
424000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
832000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
31286000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5444000
srrk Number Of Agreements
NumberOfAgreements
2
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
56227000
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32641000
CY2020Q3 us-gaap Restricted Cash
RestrictedCash
2498000
CY2019Q3 us-gaap Restricted Cash
RestrictedCash
205000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
58725000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32846000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;">The preparation of financial statements in accordance with GAAP requires management to make estimates and judgments that may affect the reported amounts of assets and liabilities and related disclosures of contingent assets and liabilities at the date of the financial statements and the related reporting of revenues and expenses during the reporting period. Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates.</p>
CY2020Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
60034000
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
3000
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
60037000
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
121103000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
39000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
121140000
CY2020Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5014000
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4088000
CY2020Q3 srrk Accrued External Research And Development Expense
AccruedExternalResearchAndDevelopmentExpense
4398000
CY2019Q4 srrk Accrued External Research And Development Expense
AccruedExternalResearchAndDevelopmentExpense
4380000
CY2020Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1003000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
929000
CY2020Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
553000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
213000
CY2020Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
10968000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9610000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4036000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2688000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8645000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6120000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
1500000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
1500000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
600000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
600000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
100000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
100000
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
344000
us-gaap Operating Lease Cost
OperatingLeaseCost
1031000
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
189000
us-gaap Variable Lease Cost
VariableLeaseCost
567000
CY2020Q3 us-gaap Lease Cost
LeaseCost
533000
us-gaap Lease Cost
LeaseCost
1598000
us-gaap Operating Lease Payments
OperatingLeasePayments
1059000
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0740
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
350000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
9070000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
8360000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9196000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8064000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
4498000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
39538000
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6636000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
32902000
CY2019Q4 us-gaap Other Commitment
OtherCommitment
3700000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4232969
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2866986

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