$WVE
Wave Life Sciences Ltd.

2022 Q1 Form 10-Q Financial Statement

#000095017022009469 Filed on May 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $1.750M $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $12.37M $10.08M
YoY Change 22.76% -22.46%
% of Gross Profit
Research & Development $27.47M $33.39M
YoY Change -17.74% -18.87%
% of Gross Profit
Depreciation & Amortization $1.730M $1.948M
YoY Change -11.19% -4.46%
% of Gross Profit
Operating Expenses $39.84M $43.47M
YoY Change -8.34% -19.73%
Operating Profit -$38.09M -$43.47M
YoY Change -12.37% -13.05%
Interest Expense $26.00K $10.00K
YoY Change 160.0% -97.44%
% of Operating Profit
Other Income/Expense, Net $280.0K $1.007M
YoY Change -72.19% -52.5%
Pretax Income -$37.81M -$42.46M
YoY Change -10.95% -10.58%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$37.81M -$42.46M
YoY Change -10.95% -10.59%
Net Earnings / Revenue -2160.8%
Basic Earnings Per Share -$0.62
Diluted Earnings Per Share -$624.9K -$864.8K
COMMON SHARES
Basic Shares Outstanding 60.84M 49.00M
Diluted Shares Outstanding 60.52M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $111.7M $148.5M
YoY Change -24.77% 22.83%
Cash & Equivalents $61.71M $148.5M
Short-Term Investments $50.00M
Other Short-Term Assets $5.730M $16.00M
YoY Change -64.19% -15.09%
Inventory
Prepaid Expenses $6.940M
Receivables $30.00M
Other Receivables $0.00
Total Short-Term Assets $124.4M $194.5M
YoY Change -36.05% 29.84%
LONG-TERM ASSETS
Property, Plant & Equipment $21.05M $43.10M
YoY Change -51.17% -18.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.336M $5.000M
YoY Change -13.28% -18.03%
Total Long-Term Assets $42.98M $48.10M
YoY Change -10.65% -45.83%
TOTAL ASSETS
Total Short-Term Assets $124.4M $194.5M
Total Long-Term Assets $42.98M $48.10M
Total Assets $167.4M $242.6M
YoY Change -31.01% 1.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.853M $13.40M
YoY Change -26.47% -18.79%
Accrued Expenses $3.152M $10.50M
YoY Change -69.98% -27.08%
Deferred Revenue $36.43M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $58.49M $48.70M
YoY Change 20.09% -59.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $868.0K $133.3M
YoY Change -99.35% 46.48%
Total Long-Term Liabilities $101.1M $133.3M
YoY Change -24.19% 46.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $58.49M $48.70M
Total Long-Term Liabilities $101.1M $133.3M
Total Liabilities $159.5M $182.0M
YoY Change -12.34% -13.25%
SHAREHOLDERS EQUITY
Retained Earnings -$843.3M
YoY Change
Common Stock $751.2M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$53.00K $52.82M
YoY Change
Total Liabilities & Shareholders Equity $167.4M $242.6M
YoY Change -31.01% 1.68%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$37.81M -$42.46M
YoY Change -10.95% -10.59%
Depreciation, Depletion And Amortization $1.730M $1.948M
YoY Change -11.19% -4.46%
Cash From Operating Activities -$39.87M -$44.38M
YoY Change -10.15% 69.05%
INVESTING ACTIVITIES
Capital Expenditures $208.0K $108.0K
YoY Change 92.59% -81.38%
Acquisitions
YoY Change
Other Investing Activities -$50.00M
YoY Change
Cash From Investing Activities -$50.21M -$108.0K
YoY Change 46388.89% -81.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.316M 8.641M
YoY Change -84.77% 1307.33%
NET CHANGE
Cash From Operating Activities -39.87M -44.38M
Cash From Investing Activities -50.21M -108.0K
Cash From Financing Activities 1.316M 8.641M
Net Change In Cash -88.85M -35.96M
YoY Change 147.07% 37.21%
FREE CASH FLOW
Cash From Operating Activities -$39.87M -$44.38M
Capital Expenditures $208.0K $108.0K
Free Cash Flow -$40.08M -$44.48M
YoY Change -9.9% 65.8%

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CY2022Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><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:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</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:left;"><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:Times New Roman;min-width:fit-content;">Cash, cash equivalents, restricted cash and short-term investments are financial instruments that potentially subject the Company to concentration of credit risk. The Company uses several financial institutions to maintain its cash, cash equivalents, restricted cash and short-term investments, all of which are high quality, accredited financial institutions and, accordingly, such funds are subject to minimal credit risk. The Company has not experienced any losses in such accounts and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. The Company has no financial instruments with off-balance sheet risk of loss.</span></p>
CY2022Q1 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2022Q1 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
14861000
CY2022Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3459000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
10181000
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3152000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3571000
CY2022Q1 wve Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
476000
CY2021Q4 wve Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
1109000
CY2022Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
7087000

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