$VIGL
Vigil Neuroscience, Inc.

2022 Q4 Form 10-Q Financial Statement

#000095017022024159 Filed on November 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.682M $4.846M $2.928M
YoY Change 73.2% 65.51% 311.81%
% of Gross Profit
Research & Development $12.19M $12.79M $7.810M
YoY Change 33.69% 63.78% -64.6%
% of Gross Profit
Depreciation & Amortization $21.00K $16.00K $12.00K
YoY Change 40.0% 33.33%
% of Gross Profit
Operating Expenses $18.87M $17.64M $10.74M
YoY Change 45.43% 64.25% -52.85%
Operating Profit -$17.64M -$10.74M
YoY Change 64.25%
Interest Expense $426.0K $163.0K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net -$9.000K $137.0K -$2.000K
YoY Change 12.5% -6950.0% -33.33%
Pretax Income -$18.46M -$17.50M -$10.74M
YoY Change 42.13% 62.94% -55.12%
Income Tax
% Of Pretax Income
Net Earnings -$18.46M -$17.50M -$10.74M
YoY Change 42.13% 62.94% -55.12%
Net Earnings / Revenue
Basic Earnings Per Share -$0.53 -$6.98
Diluted Earnings Per Share -$0.48 -$0.53 -$380.0K
COMMON SHARES
Basic Shares Outstanding 35.58M 28.27M 1.540M
Diluted Shares Outstanding 33.30M 1.540M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $186.6M $203.9M $110.7M
YoY Change 104.12% 84.23%
Cash & Equivalents $186.6M $203.9M $110.7M
Short-Term Investments
Other Short-Term Assets $628.0K $702.0K $1.250M
YoY Change 74.93% -43.84%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $197.8M $212.9M $111.9M
YoY Change 102.91% 90.28%
LONG-TERM ASSETS
Property, Plant & Equipment $1.184M $1.020M $655.0K
YoY Change 293.36% 55.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $266.0K $193.0K $1.854M
YoY Change -90.35% -89.59%
Total Long-Term Assets $2.588M $2.571M $2.509M
YoY Change -47.8% 2.47%
TOTAL ASSETS
Total Short-Term Assets $197.8M $212.9M $111.9M
Total Long-Term Assets $2.588M $2.571M $2.509M
Total Assets $200.4M $215.5M $114.4M
YoY Change 95.62% 88.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.942M $2.363M $5.104M
YoY Change -51.17% -53.7%
Accrued Expenses $9.347M $7.200M $4.455M
YoY Change 59.48% 61.62%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $23.00K $34.00K $42.00K
YoY Change -46.51% -19.05%
Total Short-Term Liabilities $11.31M $9.597M $9.601M
YoY Change 14.48% -0.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $34.00K
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $0.00 $0.00 $58.00K
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00 $92.00K
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.31M $9.597M $9.601M
Total Long-Term Liabilities $0.00 $0.00 $92.00K
Total Liabilities $11.31M $9.597M $9.693M
YoY Change 13.75% -0.99%
SHAREHOLDERS EQUITY
Retained Earnings -$140.1M -$121.7M
YoY Change 95.05%
Common Stock $329.2M $327.6M
YoY Change 13697.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $189.1M $205.9M $104.7M
YoY Change
Total Liabilities & Shareholders Equity $200.4M $215.5M $114.4M
YoY Change 95.62% 88.36%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$18.46M -$17.50M -$10.74M
YoY Change 42.13% 62.94% -55.12%
Depreciation, Depletion And Amortization $21.00K $16.00K $12.00K
YoY Change 40.0% 33.33%
Cash From Operating Activities -$17.09M -$15.92M -$11.07M
YoY Change -1.5% 43.82% 763.73%
INVESTING ACTIVITIES
Capital Expenditures $272.0K -$416.0K -$107.0K
YoY Change -1107.41% 288.79%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$272.0K -$416.0K -$107.0K
YoY Change 907.41% 288.79% -78.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $89.71M
YoY Change 260.23%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 101.0K 71.29M 89.70M
YoY Change -105.42% -20.53% 199.97%
NET CHANGE
Cash From Operating Activities -17.09M -15.92M -11.07M
Cash From Investing Activities -272.0K -416.0K -107.0K
Cash From Financing Activities 101.0K 71.29M 89.70M
Net Change In Cash -17.26M 54.95M 78.52M
YoY Change -10.28% -30.02% 179.23%
FREE CASH FLOW
Cash From Operating Activities -$17.09M -$15.92M -$11.07M
Capital Expenditures $272.0K -$416.0K -$107.0K
Free Cash Flow -$17.36M -$15.51M -$10.97M
YoY Change 0.23% 41.43% 755.38%

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<p style="margin-left:4.533%;text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, research and development expenses and related prepaid or accrued costs and the valuation of common stock, Related Party Antidilution Obligation (as defined in</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Note </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">11) and Series A Preferred Stock Tranche Obligation. The Company bases its estimates on historical experience, known trends and other market-specific or relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ from those estimates or assumptions.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
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us-gaap Common Stock Voting Rights
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CY2022Q3 us-gaap Dividends Common Stock
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CY2021Q3 us-gaap Dividends Common Stock
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200000

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