$VRAYQ
ViewRay Inc

2016 Q2 Form 10-Q Financial Statement

#000156459016024362 Filed on August 15, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q4 2015 Q2
Revenue $299.0K $4.610M $180.0K
YoY Change 66.11% 880.85%
Cost Of Revenue $863.0K $6.840M $833.0K
YoY Change 3.6% 677.27%
Gross Profit -$564.0K -$2.230M -$651.0K
YoY Change -13.36% 443.9%
Gross Profit Margin -188.63% -48.37% -361.67%
Selling, General & Admin $7.190M $7.730M $8.400M
YoY Change -14.4% 19.66%
% of Gross Profit
Research & Development $2.964M $3.040M $2.258M
YoY Change 31.27% 55.9%
% of Gross Profit
Depreciation & Amortization $438.0K $350.0K $262.0K
YoY Change 67.18% 25.0%
% of Gross Profit
Operating Expenses $10.15M $10.77M $2.258M
YoY Change 349.69% 28.06%
Operating Profit -$10.72M -$13.00M -$2.909M
YoY Change 268.44% 47.39%
Interest Expense -$1.380M -$1.080M -$840.0K
YoY Change 64.29% 45.95%
% of Operating Profit
Other Income/Expense, Net -$20.00K -$30.00K -$25.00K
YoY Change -20.0% -50.0%
Pretax Income -$12.12M -$14.11M -$12.17M
YoY Change -0.48% 46.67%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$12.12M -$14.11M -$12.17M
YoY Change -0.48% 46.67%
Net Earnings / Revenue -4051.84% -306.07% -6763.33%
Basic Earnings Per Share
Diluted Earnings Per Share -$317.0K -$370.0K -$319.2K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2015 Q4 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.400M
YoY Change
Cash & Equivalents $9.429M $20.67M $17.70M
Short-Term Investments
Other Short-Term Assets $9.300M
YoY Change
Inventory $14.10M $8.073M
Prepaid Expenses
Receivables $1.700M $830.0K
Other Receivables $0.00
Total Short-Term Assets $34.50M $43.62M
YoY Change 53.54%
LONG-TERM ASSETS
Property, Plant & Equipment $12.20M $7.306M
YoY Change 149.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.000M $91.00K
YoY Change 193.55%
Total Long-Term Assets $13.40M $8.540M
YoY Change 49.88%
TOTAL ASSETS
Total Short-Term Assets $34.50M $43.62M
Total Long-Term Assets $13.40M $8.540M
Total Assets $47.90M $52.16M
YoY Change 52.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.000M $4.358M
YoY Change -37.18%
Accrued Expenses $5.000M $5.413M
YoY Change 49.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $31.70M $28.15M
YoY Change -5.42%
LONG-TERM LIABILITIES
Long-Term Debt $44.10M $29.02M
YoY Change 217.15%
Other Long-Term Liabilities $3.100M $1.603M
YoY Change 182.72%
Total Long-Term Liabilities $47.20M $30.62M
YoY Change 215.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.70M $28.15M
Total Long-Term Liabilities $47.20M $30.62M
Total Liabilities $79.00M $59.11M
YoY Change 49.21%
SHAREHOLDERS EQUITY
Retained Earnings -$222.5M -$197.0M
YoY Change 29.59%
Common Stock $191.4M $190.1M
YoY Change 13257.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$31.09M -$6.957M
YoY Change
Total Liabilities & Shareholders Equity $47.87M $52.16M
YoY Change 52.93%

Cashflow Statement

Concept 2016 Q2 2015 Q4 2015 Q2
OPERATING ACTIVITIES
Net Income -$12.12M -$14.11M -$12.17M
YoY Change -0.48% 46.67%
Depreciation, Depletion And Amortization $438.0K $350.0K $262.0K
YoY Change 67.18% 25.0%
Cash From Operating Activities -$10.08M -$8.540M -$10.69M
YoY Change -5.71% 3184.62%
INVESTING ACTIVITIES
Capital Expenditures -$1.300M -$1.350M -$650.0K
YoY Change 100.0% 125.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$390.0K $500.0K
YoY Change -100.0% -22.0%
Cash From Investing Activities -$1.300M -$1.740M -$150.0K
YoY Change 766.67% 58.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 15.08M -1.120M 13.35M
YoY Change 12.96% -110.39%
NET CHANGE
Cash From Operating Activities -10.08M -8.540M -10.69M
Cash From Investing Activities -1.300M -1.740M -150.0K
Cash From Financing Activities 15.08M -1.120M 13.35M
Net Change In Cash 3.700M -11.40M 2.510M
YoY Change 47.41% -221.02%
FREE CASH FLOW
Cash From Operating Activities -$10.08M -$8.540M -$10.69M
Capital Expenditures -$1.300M -$1.350M -$650.0K
Free Cash Flow -$8.780M -$7.190M -$10.04M
YoY Change -12.55% -2214.71%

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On July 8, 2015, ViewRay, Inc. (f/k/a Mirax Corp.), or ViewRay, we, us, our, or the Company, completed a 1.185763-for-1 forward stock split of its common stock in the form of a dividend with the result that 4,343,339 shares of common stock, par value $0.001 per share, outstanding immediately prior to the stock split became 5,150,176 shares of common stock, par value $0.001 per share, outstanding immediately thereafter.
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us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
157174
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6479540
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3736516
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
6228743
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.13
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.53
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.70
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.27
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.39
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.38
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
2.34
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M6D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y4M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y4M24D
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
20605000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
13211000
CY2016Q2 vray Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExercisableAggregateIntrinsicValue
10669000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
12950000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
2.88
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
1.37
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1400000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
61000
CY2016Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
5700000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y1M6D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.697
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.523
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.013
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.016
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2004Q4 us-gaap Common Stock Other Shares Outstanding
CommonStockOtherSharesOutstanding
33652
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
689000
CY2015Q2 us-gaap Share Based Compensation
ShareBasedCompensation
74000
CY2016Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0
CY2015Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.37
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.37
CY2016Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.37
CY2015Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.37
CY2016Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
822000
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
742000
CY2016Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2015Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2004Q4 vray Percentage Of Royalty Rate Payable On Sales
PercentageOfRoyaltyRatePayableOnSales
0.01
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1

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