$VERA
Vera Therapeutics, Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024057292 Filed on May 10, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.032M $7.912M
YoY Change 39.95% 28.65%
% of Gross Profit
Research & Development $29.31M $23.20M
YoY Change 80.59% -7.6%
% of Gross Profit
Depreciation & Amortization $26.00K
YoY Change
% of Gross Profit
Operating Expenses $37.34M $31.11M
YoY Change 69.97% -0.47%
Operating Profit -$37.34M -$31.11M
YoY Change 69.97% -0.47%
Interest Expense $1.912M $1.906M
YoY Change 109.19% 118.08%
% of Operating Profit
Other Income/Expense, Net $3.635M $2.729M
YoY Change 101.05% 129.52%
Pretax Income -$33.71M -$28.38M
YoY Change 67.19% -5.61%
Income Tax
% Of Pretax Income
Net Earnings -$33.71M -$28.38M
YoY Change 67.19% -5.61%
Net Earnings / Revenue
Basic Earnings Per Share -$0.62 -$0.56
Diluted Earnings Per Share -$0.62 -$0.56
COMMON SHARES
Basic Shares Outstanding 54.70M 50.97M
Diluted Shares Outstanding 54.73M 50.97M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $384.4M $403.7M
YoY Change 112.34% 104.75%
Cash & Equivalents $25.09M $69.11M
Short-Term Investments $359.3M $334.6M
Other Short-Term Assets $429.0K $568.0K
YoY Change -69.34% -35.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $394.7M $416.4M
YoY Change 107.09% 103.65%
LONG-TERM ASSETS
Property, Plant & Equipment $155.0K $81.00K
YoY Change 287.5% 80.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $460.0K $554.0K
YoY Change -1.08% 20.7%
Total Long-Term Assets $2.544M $2.986M
YoY Change -44.26% -42.08%
TOTAL ASSETS
Total Short-Term Assets $394.7M $416.4M
Total Long-Term Assets $2.544M $2.986M
Total Assets $397.3M $419.4M
YoY Change 103.55% 100.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.664M $5.209M
YoY Change -64.88% -2.2%
Accrued Expenses $11.64M $7.059M
YoY Change 5.85% -54.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.42M $14.54M
YoY Change -31.37% -38.19%
LONG-TERM LIABILITIES
Long-Term Debt $50.26M $50.07M
YoY Change 101.36% 101.18%
Other Long-Term Liabilities $741.0K $1.205M
YoY Change -74.07% -65.37%
Total Long-Term Liabilities $51.00M $51.27M
YoY Change 83.34% 80.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.42M $14.54M
Total Long-Term Liabilities $51.00M $51.27M
Total Liabilities $69.42M $65.81M
YoY Change 27.02% 26.82%
SHAREHOLDERS EQUITY
Retained Earnings -$371.2M -$337.5M
YoY Change 40.98% 38.77%
Common Stock $699.5M $691.2M
YoY Change 73.16% 72.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $327.9M $353.5M
YoY Change
Total Liabilities & Shareholders Equity $397.3M $419.4M
YoY Change 103.55% 100.07%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$33.71M -$28.38M
YoY Change 67.19% -5.61%
Depreciation, Depletion And Amortization $26.00K
YoY Change
Cash From Operating Activities -$24.78M -$33.83M
YoY Change 39.44% 28.67%
INVESTING ACTIVITIES
Capital Expenditures $89.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$22.59M -$219.3M
YoY Change -73.87% -1892.43%
Cash From Investing Activities -$22.68M -$219.3M
YoY Change -73.77% -1892.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.439M 276.5M
YoY Change 696.06% 156.09%
NET CHANGE
Cash From Operating Activities -24.78M -33.83M
Cash From Investing Activities -22.68M -219.3M
Cash From Financing Activities 3.439M 276.5M
Net Change In Cash -44.02M 23.42M
YoY Change -57.59% -75.06%
FREE CASH FLOW
Cash From Operating Activities -$24.78M -$33.83M
Capital Expenditures $89.00K
Free Cash Flow -$24.87M
YoY Change 39.94%

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<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1. ORGANIZATION AND DESCRIPTION OF THE BUSINESS</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Description of Business</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Vera Therapeutics, Inc. (the Company) is a clinical stage biotechnology company focused on developing and commercializing treatments for patients with serious immunological diseases. The Company was incorporated in May 2016 in Delaware. The Company’s headquarters and operations are located in Brisbane, California. The Company operates in one segment.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Initial Public Offering</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On May 13, 2021, the Company’s registration statement on Form S-1 for its initial public offering (the IPO) was declared effective by the Securities and Exchange Commission (the SEC), and the shares of its Class A common stock commenced trading on the Nasdaq Global Select Market on May 14, 2021. The IPO closed on May 18, 2021. Prior to the completion of the IPO, all shares of redeemable convertible preferred stock then outstanding were converted into shares of Class A and Class B common stock.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Liquidity</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Since inception, the Company devoted substantially all of its resources to its research and development efforts, pre-clinical studies and clinical trials, establishing and maintaining its intellectual property portfolio, hiring personnel, raising capital, and providing general and administrative support for these operations. The Company has incurred recurring net operating losses and has not generated positive cash flow from operations since its inception and had an accumulated deficit of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">337.5</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million as of March 31, 2024. The Company had cash, cash equivalents and marketable securities of</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">403.7</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">as of March 31, 2024. The Company has funded its operations primarily through the issuance of common stock, redeemable convertible preferred stock, debt financing and convertible notes. Management expects to continue to incur losses and negative cash flows from operations for at least the next several years.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Management believes that the Company’s cash, cash equivalents and marketable securities as of March 31, 2024 will be sufficient to fund its operating expenses and capital expenditure requirements for at least 12 months subsequent to the issuance date of these financial statements. The Company intends to raise additional capital through public or private equity offerings or debt financing or other capital sources, which may include strategic collaborations or other arrangements with third parties in order to achieve its long-term business objectives. If the Company fails to obtain necessary capital when needed on acceptable terms, or at all, it could force the Company to delay, limit, reduce or terminate its product development programs, commercialization efforts or other operations</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">.</span></p>
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-337500000
CY2024Q1 vera Cash And Cash Equivalents And Marketable Securities
CashAndCashEquivalentsAndMarketableSecurities
403700000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the Company’s financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements and the reported amounts of expenses during the reporting period. Management estimates that affect the reported amounts of assets and liabilities include the accrual of research and development expenses, stock-based compensation expense, determination of incremental borrowing rate for operating leases, the valuation allowance for deferred tax assets, and fair value of marketable and non-marketable securities. The Company evaluates and adjusts its estimates and assumptions on an ongoing basis using historical experience and other factors. Actual results could differ materially from those estimates.</span>
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Concentrations of Credit Risk and Other Risks and Uncertainties</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents and marketable securities. The Company maintains bank deposits in a federally insured financial institution and these deposits may exceed federally insured limits. The Company is exposed to credit risk in the event of default by the financial institution holding its cash, cash equivalents, and marketable securities to the extent recorded in the balance sheet. The Company has not experienced any losses to date related to these concentrations.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company’s future results of operations involve a number of other risks and uncertainties. Factors that could affect the Company’s future operating results and cause actual results to vary materially from expectations include, but are not limited to, uncertainty of results of clinical trials and reaching milestones, uncertainty of regulatory approval of the Company’s current and potential future product candidates, uncertainty of market acceptance of the Company’s product candidates, competition from substitute products and larger companies, securing and protecting proprietary technology, strategic relationships and dependence on key individuals or sole-source suppliers. The Company relies on one supply chain for each of its product candidates. If any of the single source suppliers in any of the supply chains fails to satisfy the Company’s requirements on a timely basis, it could suffer delays in its clinical development programs and activities, which could adversely affect operating results.</span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company’s product candidates require approvals from the U.S. Food and Drug Administration and comparable foreign regulatory authorities prior to commercial sales in their respective jurisdictions. There can be no assurance that any product candidates will receive the necessary approvals. If the Company was denied approval, approval was delayed, or the Company was unable to maintain approval for any product candidate, it could have a materially adverse impact on the Company.</span>
CY2024Q1 vera Prepaid Clinical Trial Costs
PrepaidClinicalTrialCosts
4837000
CY2023Q4 vera Prepaid Clinical Trial Costs
PrepaidClinicalTrialCosts
5273000
CY2024Q1 vera Prepaid Drug Manufacturing Costs
PrepaidDrugManufacturingCosts
3610000
CY2023Q4 vera Prepaid Drug Manufacturing Costs
PrepaidDrugManufacturingCosts
2578000
CY2024Q1 us-gaap Interest Receivable
InterestReceivable
1631000
CY2023Q4 us-gaap Interest Receivable
InterestReceivable
512000
CY2024Q1 vera Prepaid Commercial Costs
PrepaidCommercialCosts
1044000
CY2023Q4 vera Prepaid Commercial Costs
PrepaidCommercialCosts
789000
CY2024Q1 us-gaap Prepaid Rent
PrepaidRent
277000
CY2023Q4 us-gaap Prepaid Rent
PrepaidRent
257000
CY2024Q1 us-gaap Prepaid Insurance
PrepaidInsurance
268000
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
597000
CY2024Q1 vera Prepaid Professionals Services
PrepaidProfessionalsServices
250000
CY2023Q4 vera Prepaid Professionals Services
PrepaidProfessionalsServices
198000
CY2024Q1 vera Prepaid Software Costs
PrepaidSoftwareCosts
221000
CY2023Q4 vera Prepaid Software Costs
PrepaidSoftwareCosts
237000
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
568000
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
866000
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
12706000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11307000
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1280000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3932000
CY2024Q1 vera Accrued Clinical And Drug Manufacturing Expenses
AccruedClinicalAndDrugManufacturingExpenses
3470000
CY2023Q4 vera Accrued Clinical And Drug Manufacturing Expenses
AccruedClinicalAndDrugManufacturingExpenses
2213000
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
739000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
59000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1106000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
619000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7059000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8749000
CY2024Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
351500000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
115000000
CY2024Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
400449000
CY2024Q1 us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
96000
CY2024Q1 vera Available For Sale Debt Securities Gross Unrealized Loss1
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss1
269000
CY2024Q1 vera Cash Equivalent And Marketable Securities
CashEquivalentAndMarketableSecurities
400276000
CY2024Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
69105000
CY2024Q1 us-gaap Marketable Securities
MarketableSecurities
334559000
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
159434000
CY2023 us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
271000
CY2023 vera Available For Sale Debt Securities Gross Unrealized Loss1
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss1
20000
CY2023Q4 vera Cash Equivalent And Marketable Securities
CashEquivalentAndMarketableSecurities
159685000
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
45681000
CY2023Q4 us-gaap Marketable Securities
MarketableSecurities
115035000
CY2024Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
226517000
CY2024Q1 vera Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue
108042000
CY2024Q1 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
334559000
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
644000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
644000
CY2024Q1 us-gaap Sublease Income
SubleaseIncome
482000
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
482000
CY2024Q1 us-gaap Lease Cost
LeaseCost
162000
CY2023Q1 us-gaap Lease Cost
LeaseCost
162000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2258000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1880000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
0
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
0
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4138000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
944000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3194000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2275000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
919000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
1466000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
1496000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
2962000
CY2024Q1 us-gaap Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
3700000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y3M18D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.091
CY2024Q1 us-gaap Notes Payable
NotesPayable
50000000
CY2023Q4 us-gaap Notes Payable
NotesPayable
50000000
CY2024Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-66000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
123000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
50066000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
49877000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
50000000
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
50000000
CY2024Q1 vera Maximum Aggregate Offering Price Of Securities Under Shelf Registration
MaximumAggregateOfferingPriceOfSecuritiesUnderShelfRegistration
400000000
CY2024Q1 vera Maximum Aggregate Offering Price Of Securities Under Shelf Registration
MaximumAggregateOfferingPriceOfSecuritiesUnderShelfRegistration
400000000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
20500000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
80989
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4124000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2667000
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4124000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2667000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.677
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.678
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.795
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.801
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.038
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.04
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.039
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.04
CY2024Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
138000000
CY2023Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
109000000
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6948096
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5852755
CY2024Q1 vera Proceeds From Short Swing Profits
ProceedsFromShortSwingProfits
36620000
CY2024Q1 vera Proceeds From Disgorgement Representing Short Swing Profits
ProceedsFromDisgorgementRepresentingShortSwingProfits
36620000

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