$SVRA
Savara Inc

2018 Q1 Form 10-Q Financial Statement

#000156459018012417 Filed on May 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.770M $1.740M
YoY Change 1.72% 397.14%
% of Gross Profit
Research & Development $8.540M $2.950M
YoY Change 189.49% 134.13%
% of Gross Profit
Depreciation & Amortization $107.0K $90.00K
YoY Change 18.89% 200.0%
% of Gross Profit
Operating Expenses $10.42M $5.791M
YoY Change 79.93% -46.09%
Operating Profit -$32.11M -$4.774M
YoY Change 572.54% 182.32%
Interest Expense -$104.0K $178.0K
YoY Change -158.43% -65.7%
% of Operating Profit
Other Income/Expense, Net -$221.0K -$437.0K
YoY Change -49.43% -3013.33%
Pretax Income -$31.40M -$5.211M
YoY Change 502.65% 210.18%
Income Tax -$4.555M -$237.0K
% Of Pretax Income
Net Earnings -$26.85M -$4.974M
YoY Change 439.79% 196.78%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$857.3K -$1.640M
COMMON SHARES
Basic Shares Outstanding 254.7M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $85.00M $7.800M
YoY Change 989.74% -78.98%
Cash & Equivalents $22.12M $10.46M
Short-Term Investments $62.90M $0.00
Other Short-Term Assets $1.600M $400.0K
YoY Change 300.0% -66.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $87.60M $8.200M
YoY Change 968.29% -78.53%
LONG-TERM ASSETS
Property, Plant & Equipment $800.0K $100.0K
YoY Change 700.0% -50.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.100M $100.0K
YoY Change 1000.0% 0.0%
Total Long-Term Assets $41.30M $5.700M
YoY Change 624.56% -52.1%
TOTAL ASSETS
Total Short-Term Assets $87.60M $8.200M
Total Long-Term Assets $41.30M $5.700M
Total Assets $128.9M $13.90M
YoY Change 827.34% -72.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.400M $500.0K
YoY Change 580.0% -80.0%
Accrued Expenses $1.900M $4.500M
YoY Change -57.78% -48.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $1.600M
YoY Change -100.0% -85.96%
Total Short-Term Liabilities $5.400M $6.600M
YoY Change -18.18% -70.93%
LONG-TERM LIABILITIES
Long-Term Debt $15.20M $1.900M
YoY Change 700.0%
Other Long-Term Liabilities $11.90M
YoY Change
Total Long-Term Liabilities $27.10M $1.900M
YoY Change 1326.32% -44.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.400M $6.600M
Total Long-Term Liabilities $27.10M $1.900M
Total Liabilities $35.20M $9.500M
YoY Change 270.53% -67.76%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $321.3M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $93.70M $4.400M
YoY Change
Total Liabilities & Shareholders Equity $128.9M $13.90M
YoY Change 827.34% -72.26%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$26.85M -$4.974M
YoY Change 439.79% 196.78%
Depreciation, Depletion And Amortization $107.0K $90.00K
YoY Change 18.89% 200.0%
Cash From Operating Activities -$9.671M -$2.840M
YoY Change 240.53% -74.93%
INVESTING ACTIVITIES
Capital Expenditures $19.00K $59.00K
YoY Change -67.8% 1080.0%
Acquisitions
YoY Change
Other Investing Activities $9.410M $0.00
YoY Change -100.0%
Cash From Investing Activities $9.390M -$60.00K
YoY Change -15750.0% -101.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $493.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 271.0K 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -9.671M -2.840M
Cash From Investing Activities 9.390M -60.00K
Cash From Financing Activities 271.0K 0.000
Net Change In Cash 1.000K -2.900M
YoY Change -100.03% -717.02%
FREE CASH FLOW
Cash From Operating Activities -$9.671M -$2.840M
Capital Expenditures $19.00K $59.00K
Free Cash Flow -$9.690M -$2.899M
YoY Change 234.25% -74.42%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2018Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1769000
CY2017Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2018Q1 us-gaap Impairment Of Intangible Assets Finitelived
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CY2018Q1 us-gaap Depreciation
Depreciation
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CY2017Q1 us-gaap Depreciation
Depreciation
90000
CY2018Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-61000
CY2017Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-32000
CY2018Q1 svra Change In Fair Value Of Financial Instruments Net Of Contingent Consideration
ChangeInFairValueOfFinancialInstrumentsNetOfContingentConsideration
-56000
CY2017Q1 svra Change In Fair Value Of Financial Instruments Net Of Contingent Consideration
ChangeInFairValueOfFinancialInstrumentsNetOfContingentConsideration
-160000
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-32328000
CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5211000
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2017Q1 us-gaap Income Tax Expense Benefit
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CY2018Q1 us-gaap Net Income Loss
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-26849000
CY2017Q1 us-gaap Net Income Loss
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CY2017Q1 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
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CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-26849000
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4998000
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
341000
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
143000
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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CY2017Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2018Q1 svra Issuance Of Common Stock Upon At The Market Sales Net
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493000
CY2018Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2018Q1 svra Issuance Of Common Stock Upon Exercise Of Warrants Amount
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CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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412000
CY2018Q1 svra Change In Fair Value Of Financial Instruments
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-96000
CY2017Q1 svra Change In Fair Value Of Financial Instruments
ChangeInFairValueOfFinancialInstruments
-60000
CY2018Q1 svra Change In Fair Value Of Contingent Consideration
ChangeInFairValueOfContingentConsideration
-134000
CY2017Q1 svra Change In Fair Value Of Contingent Consideration
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100000
CY2018Q1 us-gaap Paid In Kind Interest
PaidInKindInterest
35000
CY2017Q1 us-gaap Paid In Kind Interest
PaidInKindInterest
98000
CY2018Q1 us-gaap Amortization Of Financing Costs
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109000
CY2018Q1 svra Accretion On Discount To Short Term Investments And Convertible Promissory Notes
AccretionOnDiscountToShortTermInvestmentsAndConvertiblePromissoryNotes
138000
CY2017Q1 svra Accretion On Discount To Short Term Investments And Convertible Promissory Notes
AccretionOnDiscountToShortTermInvestmentsAndConvertiblePromissoryNotes
-149000
CY2018Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-4555000
CY2017Q1 svra Increase Decrease In Grant And Award Receivable
IncreaseDecreaseInGrantAndAwardReceivable
-400000
CY2018Q1 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
873000
CY2017Q1 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
165000
CY2018Q1 svra Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
-7000
CY2017Q1 svra Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
-2000
CY2018Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-554000
CY2017Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1319000
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-2844000
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19000
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
59000
CY2018Q1 svra Maturities Of Available For Sale Securities
MaturitiesOfAvailableForSaleSecurities
25300000
CY2018Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
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CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
9390000
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-59000
CY2018Q1 svra Proceeds From Issuance Of Common Stock Upon Exercise Of Warrants
ProceedsFromIssuanceOfCommonStockUponExerciseOfWarrants
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CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
493000
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3000
CY2018Q1 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
243000
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
271000
CY2018Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
11000
CY2017Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
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CY2018Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
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CY2017Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2909000
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2017Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2017Q1 svra Non Cash Accretion Of Redeemable Convertible Preferred Stock
NonCashAccretionOfRedeemableConvertiblePreferredStock
24000
CY2018Q1 us-gaap Interest Paid
InterestPaid
334000
CY2018Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-bottom:0pt;margin-top:8pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentration of Credit Risk </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and cash equivalents and foreign exchange derivatives not designated as hedging. The Company places its cash and cash equivalents with a limited number of high quality financial institutions and at times may exceed the amount of insurance provided on such deposits. </p></div>
CY2018Q1 svra Forward Currency Contract Obligation
ForwardCurrencyContractObligation
56000
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
7000
CY2018Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2018Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
0
CY2018Q1 svra Liquid Investments Maturity Period
LiquidInvestmentsMaturityPeriod
three months or less
CY2018Q1 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
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CY2018Q1 svra Prepaid Research And Development Tax Credit Receivable
PrepaidResearchAndDevelopmentTaxCreditReceivable
857000
CY2017Q4 svra Prepaid Research And Development Tax Credit Receivable
PrepaidResearchAndDevelopmentTaxCreditReceivable
834000
CY2018Q1 svra Prepaid Clinical Trial Costs
PrepaidClinicalTrialCosts
1245000
CY2017Q4 svra Prepaid Clinical Trial Costs
PrepaidClinicalTrialCosts
2129000
CY2018Q1 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
171000
CY2017Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
196000
CY2018Q1 us-gaap Prepaid Insurance
PrepaidInsurance
123000
CY2017Q4 us-gaap Prepaid Insurance
PrepaidInsurance
158000
CY2017Q4 svra Forward Currency Exchange Derivative Current
ForwardCurrencyExchangeDerivativeCurrent
40000
CY2018Q1 svra Deposits And Other Assets Current
DepositsAndOtherAssetsCurrent
190000
CY2017Q4 svra Deposits And Other Assets Current
DepositsAndOtherAssetsCurrent
194000
CY2018Q1 svra Accrued Contracted Research And Development Costs
AccruedContractedResearchAndDevelopmentCosts
1477000
CY2017Q4 svra Accrued Contracted Research And Development Costs
AccruedContractedResearchAndDevelopmentCosts
1308000
CY2018Q1 svra Accrued General And Administrative Costs
AccruedGeneralAndAdministrativeCosts
187000
CY2017Q4 svra Accrued General And Administrative Costs
AccruedGeneralAndAdministrativeCosts
323000
CY2018Q1 svra Accrued Compensation
AccruedCompensation
227000
CY2017Q4 svra Accrued Compensation
AccruedCompensation
1328000
CY2018Q1 us-gaap Available For Sale Securities Amortized Cost
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CY2018Q1 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
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1000
CY2018Q1 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
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CY2018Q1 us-gaap Available For Sale Securities
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CY2018Q1 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
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0
CY2017Q1 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
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0
CY2017Q2 svra Business Combination Consideration Fair Value Shares Outstanding
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33117000
CY2017Q2 svra Business Combination Consideration Fair Value Of Equity
BusinessCombinationConsiderationFairValueOfEquity
2729000
CY2017Q2 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
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CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
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3442000
CY2017Q2 svra Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Tangible Assets
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CY2017Q2 svra Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Debt
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BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilitiesNoncurrent
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CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
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CY2017Q2 us-gaap Goodwill
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CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
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35846000
CY2017 svra Number Of Tranches
NumberOfTranches
2
CY2018Q1 us-gaap Debt Instrument Periodic Payment Terms Balloon Payment To Be Paid
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CY2018Q1 us-gaap Amortization Of Debt Discount Premium
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CY2018Q1 svra Principal Payments Of Debt And End Of Term Charge Non Current
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CY2018Q1 us-gaap Unamortized Debt Issuance Expense
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CY2018Q1 us-gaap Debt Instrument Unamortized Discount
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259000
CY2018Q1 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
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0
CY2017Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2018Q1 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2017Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2018Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
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0
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
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0
CY2018Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
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0
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
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0
CY2018Q1 svra Common Stock And Preferred Stock Shares Authorized
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CY2018Q1 us-gaap Preferred Stock Shares Authorized
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CY2018Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2018Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2017Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2018Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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2066645
CY2017Q1 svra Operating Lease Office Space
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13707
CY2017Q1 svra Lease Commencement Date
LeaseCommencementDate
2017-07-01
CY2014Q2 svra Lease Commencement Date
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2014-06-01
CY2017Q1 us-gaap Lease Expiration Date1
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2020-05-31
CY2014Q2 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2019-11-30
CY2017Q1 svra Lease Agreement Date
LeaseAgreementDate
2014-06-19
CY2017Q1 us-gaap Operating Leases Rent Expense Minimum Rentals
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44000
CY2014Q2 us-gaap Operating Leases Rent Expense Minimum Rentals
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5000
CY2017Q1 svra Lease Rental Payments Percentage
LeaseRentalPaymentsPercentage
0.030
CY2017Q4 svra Lease Commencement Date
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2018-01-01
CY2017Q4 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2021-07-31
CY2017Q4 us-gaap Operating Leases Rent Expense Minimum Rentals
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13000
CY2017Q4 svra Lease Rental Payments Percentage
LeaseRentalPaymentsPercentage
0.02
CY2018Q1 svra Employment Agreement Description
EmploymentAgreementDescription
Upon termination without cause, and not as a result of death or disability, each of such officers is entitled to receive a payment of base salary for three to twelve months following termination of employment and such officer will be entitled to continue to receive coverage under medical and dental benefit plans for three to twelve months or until such officer is covered under a separate plan from another employer. Upon a termination other than for cause or for good reason within twelve months following a change in control, each of such officers will be entitled to the same benefits as upon termination without cause and will also be entitled to certain acceleration of such officer's outstanding unvested options at the time of such termination
CY2018Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
412000
CY2017Q1 us-gaap Allocated Share Based Compensation Expense
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81000
CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4060851
CY2017Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9694735
CY2018Q1 svra Undistributed Earnings And Net Income Loss Attributable To Common Stockholders Basic And Diluted
UndistributedEarningsAndNetIncomeLossAttributableToCommonStockholdersBasicAndDiluted
-26849000
CY2017Q1 svra Undistributed Earnings And Net Income Loss Attributable To Common Stockholders Basic And Diluted
UndistributedEarningsAndNetIncomeLossAttributableToCommonStockholdersBasicAndDiluted
-4998000

Files In Submission

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