$WVE
Wave Life Sciences Ltd.

2019 Q2 Form 10-Q Financial Statement

#000156459019029396 Filed on August 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q4 2018 Q2
Revenue $7.628M $3.620M $4.879M
YoY Change 56.34% 115.99% 621.75%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $11.64M $12.75M $8.910M
YoY Change 30.64% 85.05% 33.58%
% of Gross Profit
Research & Development $41.61M $39.81M $32.55M
YoY Change 27.83% 56.92% 70.4%
% of Gross Profit
Depreciation & Amortization $1.860M $1.710M $1.230M
YoY Change 51.22% 92.13% 251.43%
% of Gross Profit
Operating Expenses $53.25M $52.56M $41.45M
YoY Change 28.45% 62.96% 60.85%
Operating Profit -$45.62M -$48.94M -$36.57M
YoY Change 24.73% 57.08% 48.23%
Interest Expense $1.540M $1.010M $4.000K
YoY Change 38400.0% 248.28% -99.17%
% of Operating Profit
Other Income/Expense, Net $2.130M $9.940M $679.0K
YoY Change 213.7% -8383.33% -1231.67%
Pretax Income -$41.94M -$37.99M -$35.89M
YoY Change 16.84% 22.59% 47.99%
Income Tax $0.00 -$100.0K $0.00
% Of Pretax Income
Net Earnings -$41.94M -$37.89M -$35.89M
YoY Change 16.85% 23.04% 45.93%
Net Earnings / Revenue -549.84% -1046.6% -735.68%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.224M -$1.286M -$1.232M
COMMON SHARES
Basic Shares Outstanding 34.26M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2018 Q4 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $252.9M $174.8M $241.4M
YoY Change 4.76% 22.67% 22.29%
Cash & Equivalents $252.9M $174.8M $245.0M
Short-Term Investments
Other Short-Term Assets $16.70M $10.87M $11.20M
YoY Change 49.11% 55.24% 194.74%
Inventory
Prepaid Expenses $6.587M
Receivables $20.00M $10.00M $15.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $289.6M $202.3M $267.7M
YoY Change 8.18% 34.41% 33.05%
LONG-TERM ASSETS
Property, Plant & Equipment $38.36M $39.93M $32.40M
YoY Change 18.4% 46.09% 55.77%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.700M $3.700M $3.700M
YoY Change 135.14% -7.5% -15.91%
Total Long-Term Assets $95.96M $93.67M $86.07M
YoY Change 11.49% 198.73% 241.54%
TOTAL ASSETS
Total Short-Term Assets $289.6M $202.3M $267.7M
Total Long-Term Assets $95.96M $93.67M $86.07M
Total Assets $385.5M $295.9M $353.7M
YoY Change 9.0% 62.74% 56.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.46M $13.09M $7.200M
YoY Change 59.22% 72.27% -10.0%
Accrued Expenses $14.70M $5.502M $8.500M
YoY Change 72.94% 67.69% 84.78%
Deferred Revenue $97.96M $100.9M $27.29M
YoY Change 258.92% 7817.25%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $124.1M $130.0M $43.80M
YoY Change 183.3% 614.86% 180.77%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.897M $2.142M $1.533M
YoY Change 23.74% 32.3% -89.13%
Total Long-Term Liabilities $93.37M $84.68M $162.8M
YoY Change -42.65% 423.73% 1054.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $124.1M $130.0M $43.80M
Total Long-Term Liabilities $93.37M $84.68M $162.8M
Total Liabilities $217.4M $214.7M $206.6M
YoY Change 5.26% 524.93% 597.88%
SHAREHOLDERS EQUITY
Retained Earnings -$425.9M -$339.7M -$264.2M
YoY Change 61.19% 76.28%
Common Stock $538.5M $375.1M $373.2M
YoY Change 44.32% 21.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $160.2M $73.35M $139.3M
YoY Change
Total Liabilities & Shareholders Equity $385.5M $295.9M $353.7M
YoY Change 8.99% 62.74% 56.25%

Cashflow Statement

Concept 2019 Q2 2018 Q4 2018 Q2
OPERATING ACTIVITIES
Net Income -$41.94M -$37.89M -$35.89M
YoY Change 16.85% 23.04% 45.93%
Depreciation, Depletion And Amortization $1.860M $1.710M $1.230M
YoY Change 51.22% 92.13% 251.43%
Cash From Operating Activities -$32.93M -$32.82M $71.40M
YoY Change -146.12% 44.26% -455.4%
INVESTING ACTIVITIES
Capital Expenditures -$1.600M -$3.460M -$1.930M
YoY Change -17.1% -15.2% -65.29%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.600M -$3.460M -$1.930M
YoY Change -17.1% -15.2% -65.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -160.0K 640.0K 61.56M
YoY Change -100.26% 10.34% -34.19%
NET CHANGE
Cash From Operating Activities -32.93M -32.82M 71.40M
Cash From Investing Activities -1.600M -3.460M -1.930M
Cash From Financing Activities -160.0K 640.0K 61.56M
Net Change In Cash -34.69M -35.64M 131.0M
YoY Change -126.47% 35.77% 93.0%
FREE CASH FLOW
Cash From Operating Activities -$32.93M -$32.82M $71.40M
Capital Expenditures -$1.600M -$3.460M -$1.930M
Free Cash Flow -$31.33M -$29.36M $73.33M
YoY Change -142.72% 57.26% -604.68%

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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4258000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
4908000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-142000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
10000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-3104000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-769000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-245000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-83310000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2107000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2107000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
161792000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
16000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
63097000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
35400000
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
19700000
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000
us-gaap Operating Lease Cost
OperatingLeaseCost
2236000
us-gaap Lease Cost
LeaseCost
2236000
us-gaap Operating Lease Payments
OperatingLeasePayments
2813000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y9M18D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.085
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2862000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5846000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6021000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
6201000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
5236000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
20927000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
47093000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
13084000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
34009000

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