$VRAYQ
ViewRay Inc

2020 Q1 Form 10-Q Financial Statement

#000156459020020499 Filed on May 01, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $14.25M $20.28M
YoY Change -29.75% -22.55%
Cost Of Revenue $16.36M $25.65M
YoY Change -36.23% 24.38%
Gross Profit -$2.107M -$5.364M
YoY Change -60.72% -196.3%
Gross Profit Margin -14.79% -26.44%
Selling, General & Admin $21.61M $19.99M
YoY Change 8.09% 52.72%
% of Gross Profit
Research & Development $6.337M $5.031M
YoY Change 25.96% 33.45%
% of Gross Profit
Depreciation & Amortization $1.500M $900.0K
YoY Change 66.67% 28.57%
% of Gross Profit
Operating Expenses $27.95M $25.03M
YoY Change 11.68% 48.41%
Operating Profit -$30.06M -$30.39M
YoY Change -1.1% 169.12%
Interest Expense -$340.0K $759.0K
YoY Change -144.8% -59.32%
% of Operating Profit
Other Income/Expense, Net $2.866M -$2.433M
YoY Change -217.8% -129.17%
Pretax Income -$27.53M -$33.36M
YoY Change -17.48% 593.0%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$27.53M -$33.36M
YoY Change -17.47% 593.0%
Net Earnings / Revenue -193.21% -164.47%
Basic Earnings Per Share
Diluted Earnings Per Share -$186.7K -$344.8K
COMMON SHARES
Basic Shares Outstanding 96.67M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $190.2M $145.8M
YoY Change 30.45% 84.79%
Cash & Equivalents $192.1M $147.2M
Short-Term Investments
Other Short-Term Assets $9.400M $13.40M
YoY Change -29.85% 57.65%
Inventory $59.30M $72.80M
Prepaid Expenses
Receivables $21.50M $27.40M
Other Receivables $0.00 $0.00
Total Short-Term Assets $280.4M $259.4M
YoY Change 8.1% 68.44%
LONG-TERM ASSETS
Property, Plant & Equipment $34.70M $27.30M
YoY Change 27.11% 110.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.600M $2.900M
YoY Change 24.14% 81.25%
Total Long-Term Assets $38.30M $30.20M
YoY Change 26.82% 106.85%
TOTAL ASSETS
Total Short-Term Assets $280.4M $259.4M
Total Long-Term Assets $38.30M $30.20M
Total Assets $318.7M $289.6M
YoY Change 10.05% 71.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.200M $17.90M
YoY Change -59.78% 33.58%
Accrued Expenses $17.60M $17.10M
YoY Change 2.92% 128.0%
Deferred Revenue $10.29M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $6.200M
YoY Change
Total Short-Term Liabilities $58.30M $60.60M
YoY Change -3.8% 49.26%
LONG-TERM LIABILITIES
Long-Term Debt $49.40M $55.40M
YoY Change -10.83% 24.22%
Other Long-Term Liabilities $17.10M $303.0K
YoY Change 5543.56% -98.83%
Total Long-Term Liabilities $66.50M $303.0K
YoY Change 21847.19% -99.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $58.30M $60.60M
Total Long-Term Liabilities $66.50M $303.0K
Total Liabilities $124.7M $148.1M
YoY Change -15.83% 33.47%
SHAREHOLDERS EQUITY
Retained Earnings -$432.3M
YoY Change
Common Stock $573.8M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $194.0M $141.5M
YoY Change
Total Liabilities & Shareholders Equity $318.7M $289.6M
YoY Change 10.04% 71.78%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$27.53M -$33.36M
YoY Change -17.47% 593.0%
Depreciation, Depletion And Amortization $1.500M $900.0K
YoY Change 66.67% 28.57%
Cash From Operating Activities -$35.00M -$23.65M
YoY Change 47.97% -36.85%
INVESTING ACTIVITIES
Capital Expenditures $451.0K $1.249M
YoY Change -63.89% 151.31%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$451.0K -$1.249M
YoY Change -63.89% 151.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -669.0K 2.716M
YoY Change -124.63% -95.43%
NET CHANGE
Cash From Operating Activities -35.00M -23.65M
Cash From Investing Activities -451.0K -1.249M
Cash From Financing Activities -669.0K 2.716M
Net Change In Cash -36.12M -22.19M
YoY Change 62.8% -203.06%
FREE CASH FLOW
Cash From Operating Activities -$35.00M -$23.65M
Capital Expenditures $451.0K $1.249M
Free Cash Flow -$35.45M -$24.90M
YoY Change 42.36% -34.38%

Facts In Submission

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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M24D
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y4M24D
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y4M24D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1907000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
865000
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
799000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
857000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.46
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.78
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3000000
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1200000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1900000
CY2020Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
21900000
CY2020Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y6M
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.665
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.604
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.014
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.026
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
4379777
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
263565
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
8002687
CY2020Q1 vray Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested And Unreleased
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndUnreleased
131576
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
8134263
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5.14
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.09
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
7.08
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
3.57
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
4.06
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4552000
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.24
CY2020Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2600000
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2200000
CY2020Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2019 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13640045
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13315376
CY2020Q1 vray Percentage Of Royalty Expense Based On Net Sales
PercentageOfRoyaltyExpenseBasedOnNetSales
0.01

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