$VRAYQ
ViewRay Inc

2020 Q3 Form 10-Q Financial Statement

#000156459020051971 Filed on November 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3 2019 Q2
Revenue $10.09M $20.86M $30.17M
YoY Change -51.65% 18.09% 83.46%
Cost Of Revenue $11.15M $20.29M $26.92M
YoY Change -45.04% 17.26% 64.41%
Gross Profit -$1.064M $574.0K $3.246M
YoY Change -285.37% 57.69% 4604.35%
Gross Profit Margin -10.55% 2.75% 10.76%
Selling, General & Admin $18.70M $26.68M $23.06M
YoY Change -29.91% 32.7% 65.94%
% of Gross Profit 4648.08% 710.44%
Research & Development $5.245M $5.640M $6.463M
YoY Change -7.0% 29.66% 47.25%
% of Gross Profit 982.58% 199.11%
Depreciation & Amortization $1.400M $1.200M $1.100M
YoY Change 16.67% 33.33% 22.22%
% of Gross Profit 209.06% 33.89%
Operating Expenses $23.95M $32.32M $29.52M
YoY Change -25.91% 32.17% 61.46%
Operating Profit -$25.01M -$31.75M -$26.28M
YoY Change -21.22% 31.79% 44.25%
Interest Expense $1.074M $1.069M $1.074M
YoY Change 0.47% -45.85% -155.94%
% of Operating Profit
Other Income/Expense, Net -$2.047M $11.50M -$4.133M
YoY Change -117.8% -269.3% 122.56%
Pretax Income -$28.13M -$20.83M -$30.80M
YoY Change 35.02% -36.59% 40.06%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$28.13M -$20.83M -$30.80M
YoY Change 35.02% -36.59% 40.05%
Net Earnings / Revenue -278.85% -99.85% -102.09%
Basic Earnings Per Share -$0.19
Diluted Earnings Per Share -$0.19 -$210.3K -$315.7K
COMMON SHARES
Basic Shares Outstanding 148.0M shares
Diluted Shares Outstanding 148.0M shares

Balance Sheet

Concept 2020 Q3 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $163.9M $90.80M $122.1M
YoY Change 80.51% -54.94% 84.72%
Cash & Equivalents $163.9M $90.76M $122.1M
Short-Term Investments
Other Short-Term Assets $13.40M $7.800M $10.80M
YoY Change 71.79% -54.39% -48.57%
Inventory $50.70M $59.62M $57.96M
Prepaid Expenses
Receivables $26.50M $33.30M $35.48M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $254.5M $196.3M $232.0M
YoY Change 29.66% -31.71% 69.61%
LONG-TERM ASSETS
Property, Plant & Equipment $22.53M $23.44M $21.98M
YoY Change -3.86% 74.23% 61.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.900M $2.255M $1.717M
YoY Change 28.6% 90.3% -18.24%
Total Long-Term Assets $35.60M $39.45M $37.91M
YoY Change -9.75% 146.25% 141.49%
TOTAL ASSETS
Total Short-Term Assets $254.5M $196.3M $232.0M
Total Long-Term Assets $35.60M $39.45M $37.91M
Total Assets $290.1M $235.7M $269.9M
YoY Change 23.06% -22.31% 77.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.600M $11.65M $19.24M
YoY Change -34.75% 67.26% 153.17%
Accrued Expenses $17.97M $18.84M $18.91M
YoY Change -4.61% 35.7% 215.17%
Deferred Revenue $21.84M $9.644M $8.232M
YoY Change 126.44%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $15.60M
YoY Change
Total Short-Term Liabilities $81.30M $53.01M $57.92M
YoY Change 53.36% 19.4% 41.27%
LONG-TERM LIABILITIES
Long-Term Debt $40.10M $55.49M $55.45M
YoY Change -27.73% 24.28% 24.32%
Other Long-Term Liabilities $1.827M $562.0K $431.0K
YoY Change 225.09% -94.3% -98.51%
Total Long-Term Liabilities $1.827M $56.05M $55.88M
YoY Change -96.74% 2.84% -23.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $81.30M $53.01M $57.92M
Total Long-Term Liabilities $1.827M $56.05M $55.88M
Total Liabilities $139.1M $127.8M $147.0M
YoY Change 8.81% 1.4% 28.41%
SHAREHOLDERS EQUITY
Retained Earnings -$484.0M -$463.1M
YoY Change 26.61%
Common Stock $591.9M $586.1M
YoY Change 5.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $151.0M $107.9M $122.9M
YoY Change
Total Liabilities & Shareholders Equity $290.1M $235.7M $269.9M
YoY Change 23.06% -22.31% 77.01%

Cashflow Statement

Concept 2020 Q3 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income -$28.13M -$20.83M -$30.80M
YoY Change 35.02% -36.59% 40.05%
Depreciation, Depletion And Amortization $1.400M $1.200M $1.100M
YoY Change 16.67% 33.33% 22.22%
Cash From Operating Activities -$14.66M -$27.08M -$25.90M
YoY Change -45.86% -5.28% 127.39%
INVESTING ACTIVITIES
Capital Expenditures -$900.0K -$3.250M -$3.100M
YoY Change -72.31% 513.21% 74.16%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$900.0K -$3.250M -$3.100M
YoY Change -72.31% 513.21% 74.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -470.0K -980.0K 5.320M
YoY Change -52.04% -100.59% 1137.21%
NET CHANGE
Cash From Operating Activities -14.66M -27.08M -25.90M
Cash From Investing Activities -900.0K -3.250M -3.100M
Cash From Financing Activities -470.0K -980.0K 5.320M
Net Change In Cash -16.03M -31.31M -23.68M
YoY Change -48.8% -123.09% 85.87%
FREE CASH FLOW
Cash From Operating Activities -$14.66M -$27.08M -$25.90M
Capital Expenditures -$900.0K -$3.250M -$3.100M
Free Cash Flow -$13.76M -$23.83M -$22.80M
YoY Change -42.26% -15.07% 137.25%

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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
736579
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
736579
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.97
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
20579
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.72
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
3496601
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
6.99
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
299898
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
5981966
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
599623
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
7763659
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8385245
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.12
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2273000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5180433
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.11
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1199000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
8095506
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
7.15
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
2134000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.20
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.71
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
7600000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
11400000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0.0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
7800000
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
11800000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y1M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.688
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.607
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.007
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.024
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
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 Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5.14
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
5981966
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
2.78
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
996529
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
8.14
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
599623
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
3.13
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
8765591
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3.33
CY2020Q3 vray Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested And Unreleased
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndUnreleased
153055
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
8918646
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4910000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.24
CY2020Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2500000
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2200000
CY2019 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14651596
CY2020Q3 vray Percentage Of Royalty Expense Based On Net Sales
PercentageOfRoyaltyExpenseBasedOnNetSales
0.01

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