$SYBX
SYNLOGIC, INC.

2023 Q2 Form 10-Q Financial Statement

#000095017023020782 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $35.00K $174.0K $244.0K
YoY Change -76.97% -28.69%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.924M $3.967M $4.271M
YoY Change -4.57% -7.12% 10.94%
% of Gross Profit
Research & Development $11.77M $12.45M $11.74M
YoY Change -2.42% 6.07% 4.99%
% of Gross Profit
Depreciation & Amortization $530.0K $576.0K $601.0K
YoY Change -19.21% -4.16% -4.6%
% of Gross Profit
Operating Expenses $15.69M $16.42M $11.74M
YoY Change -2.97% 39.86% -21.9%
Operating Profit -$15.65M -$16.24M -$15.77M
YoY Change -2.27% 3.03%
Interest Expense $0.00 $1.000K $66.00K
YoY Change -100.0% -98.48% 10.0%
% of Operating Profit
Other Income/Expense, Net $615.0K $621.0K $68.00K
YoY Change 251.43% 813.24% 13.33%
Pretax Income -$15.04M -$15.62M -$15.70M
YoY Change -5.07% -0.48% 4.86%
Income Tax $9.000K
% Of Pretax Income
Net Earnings -$15.05M -$15.62M -$15.70M
YoY Change -5.01% -0.48% 4.85%
Net Earnings / Revenue -42994.29% -8978.16% -6433.2%
Basic Earnings Per Share -$0.21 -$0.23 -$0.22
Diluted Earnings Per Share -$0.21 -$0.23 -$218.1K
COMMON SHARES
Basic Shares Outstanding 68.21M 67.73M 71.97M
Diluted Shares Outstanding 70.22M 69.07M 71.97M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.26M $57.37M $120.5M
YoY Change -56.68% -52.4% 27.73%
Cash & Equivalents $46.26M $25.54M $21.95M
Short-Term Investments $0.00 $31.83M $99.67M
Other Short-Term Assets $3.296M $4.991M $3.900M
YoY Change -23.46% 27.97% -42.65%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $49.56M $62.36M $124.4M
YoY Change -55.39% -49.88% 22.95%
LONG-TERM ASSETS
Property, Plant & Equipment $6.398M $6.885M $23.98M
YoY Change -24.41% -71.28% 135.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $16.00K $22.00K $10.92M
YoY Change -5.88% -99.8% 272800.0%
Total Long-Term Assets $29.73M $31.08M $34.89M
YoY Change -8.39% -10.91% 0.99%
TOTAL ASSETS
Total Short-Term Assets $49.56M $62.36M $124.4M
Total Long-Term Assets $29.73M $31.08M $34.89M
Total Assets $79.28M $93.44M $159.3M
YoY Change -44.77% -41.34% 17.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.082M $2.316M $2.409M
YoY Change -27.96% -3.86% 54.13%
Accrued Expenses $3.543M $2.421M $6.929M
YoY Change 9.05% -65.06% 147.29%
Deferred Revenue $657.0K $692.0K
YoY Change 340.94%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $11.00K $14.00K $12.00K
YoY Change -15.38% 16.67%
Total Short-Term Liabilities $9.632M $9.737M $9.664M
YoY Change 8.15% 0.76% 38.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $1.000K $15.00K
YoY Change -100.0% -93.33%
Other Long-Term Liabilities $14.88M $14.99M $17.34M
YoY Change -13.89% -13.52% 13133.59%
Total Long-Term Liabilities $14.88M $14.99M $17.35M
YoY Change -13.95% -13.58% -11.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.632M $9.737M $9.664M
Total Long-Term Liabilities $14.88M $14.99M $17.35M
Total Liabilities $24.51M $24.73M $27.02M
YoY Change -6.43% -8.45% 1.2%
SHAREHOLDERS EQUITY
Retained Earnings -$387.7M -$372.6M -$306.6M
YoY Change 20.25% 21.53% 24.99%
Common Stock $445.0M $443.9M
YoY Change 1.09%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.518M $2.518M
YoY Change
Treasury Stock Shares $4.197M
Shareholders Equity $54.77M $68.71M $132.3M
YoY Change
Total Liabilities & Shareholders Equity $79.28M $93.44M $159.3M
YoY Change -44.77% -41.34% 17.4%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$15.05M -$15.62M -$15.70M
YoY Change -5.01% -0.48% 4.85%
Depreciation, Depletion And Amortization $530.0K $576.0K $601.0K
YoY Change -19.21% -4.16% -4.6%
Cash From Operating Activities -$11.63M -$21.51M -$15.48M
YoY Change -14.32% 38.95% 10.74%
INVESTING ACTIVITIES
Capital Expenditures $43.00K $143.0K $477.0K
YoY Change -128.29% -70.02% 2171.43%
Acquisitions
YoY Change
Other Investing Activities $32.00M $30.41M $20.24M
YoY Change 34.66% 50.3% 11141.67%
Cash From Investing Activities $31.96M $30.27M $19.76M
YoY Change 35.34% 53.2% 12729.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 389.0K 913.0K 132.0K
YoY Change 6383.33% 591.67% -98.35%
NET CHANGE
Cash From Operating Activities -11.63M -21.51M -15.48M
Cash From Investing Activities 31.96M 30.27M 19.76M
Cash From Financing Activities 389.0K 913.0K 132.0K
Net Change In Cash 20.72M 9.678M 4.413M
YoY Change 106.19% 119.31% -176.05%
FREE CASH FLOW
Cash From Operating Activities -$11.63M -$21.51M -$15.48M
Capital Expenditures $43.00K $143.0K $477.0K
Free Cash Flow -$11.67M -$21.65M -$15.95M
YoY Change -13.03% 35.69% 13.98%

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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
913000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
132000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
9678000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4413000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
16958000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17535000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
26636000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
21948000
CY2023Q1 sybx Assets Acquired Under Operating Lease Obligation
AssetsAcquiredUnderOperatingLeaseObligation
0
CY2022Q1 sybx Assets Acquired Under Operating Lease Obligation
AssetsAcquiredUnderOperatingLeaseObligation
1773000
CY2023Q1 sybx Noncash Purchase Of Property Plant And Equipment In Accounts Payable And Accrued Liabilities Adjustments
NoncashPurchaseOfPropertyPlantAndEquipmentInAccountsPayableAndAccruedLiabilitiesAdjustments
0
CY2022Q1 sybx Noncash Purchase Of Property Plant And Equipment In Accounts Payable And Accrued Liabilities Adjustments
NoncashPurchaseOfPropertyPlantAndEquipmentInAccountsPayableAndAccruedLiabilitiesAdjustments
118000
CY2023Q1 sybx Issuance Costs Included In Accounts Payable And Accrued Expenses
IssuanceCostsIncludedInAccountsPayableAndAccruedExpenses
40000
CY2022Q1 sybx Issuance Costs Included In Accounts Payable And Accrued Expenses
IssuanceCostsIncludedInAccountsPayableAndAccruedExpenses
0
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
0
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
1000
CY2023Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
57400000
CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1100000
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-372600000
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
31859000
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2000
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
32000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
31829000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
61929000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
8000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
169000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
61768000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
17900000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
36600000
CY2023Q1 sybx Other Than Temporary Impairment Losses Investments Number Debt Securities Available For Sale
OtherThanTemporaryImpairmentLossesInvestmentsNumberDebtSecuritiesAvailableForSale
0
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
20554000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
20463000
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
13669000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
13140000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6885000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7323000
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
993000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3401000
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
474000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
152000
CY2023Q1 sybx Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
725000
CY2022Q4 sybx Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
1624000
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
229000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
113000
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2421000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5290000
CY2023Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
6068774
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
718000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
890000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
718000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
890000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
4011130
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.64
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
5900000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M6D
CY2022Q4 sybx Repurchase Of Common Stock
RepurchaseOfCommonStock
4196889
CY2022Q4 sybx Aggregate Purchase
AggregatePurchase
2500000
CY2022Q4 sybx Aggregate Purchase Per Share
AggregatePurchasePerShare
0.60

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