$WVE
Wave Life Sciences Ltd.

2020 Q2 Form 10-Q Financial Statement

#000156459020038620 Filed on August 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $3.030M $7.628M
YoY Change -60.28% 56.34%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.21M $11.64M
YoY Change -12.29% 30.64%
% of Gross Profit
Research & Development $31.48M $41.61M
YoY Change -24.34% 27.83%
% of Gross Profit
Depreciation & Amortization $2.020M $1.860M
YoY Change 8.6% 51.22%
% of Gross Profit
Operating Expenses $41.68M $53.25M
YoY Change -21.72% 28.45%
Operating Profit -$45.62M
YoY Change 24.73%
Interest Expense $140.0K $1.540M
YoY Change -90.91% 38400.0%
% of Operating Profit
Other Income/Expense, Net -$2.005M $2.130M
YoY Change -194.13% 213.7%
Pretax Income -$40.53M -$41.94M
YoY Change -3.36% 16.84%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$40.53M -$41.94M
YoY Change -3.37% 16.85%
Net Earnings / Revenue -1337.56% -549.84%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.151M -$1.224M
COMMON SHARES
Basic Shares Outstanding 34.26M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $94.10M $252.9M
YoY Change -62.79% 4.76%
Cash & Equivalents $216.4M $252.9M
Short-Term Investments
Other Short-Term Assets $16.33M $16.70M
YoY Change -2.23% 49.11%
Inventory
Prepaid Expenses $6.452M
Receivables $30.00M $20.00M
Other Receivables $16.30M $0.00
Total Short-Term Assets $146.8M $289.6M
YoY Change -49.3% 8.18%
LONG-TERM ASSETS
Property, Plant & Equipment $50.30M $38.36M
YoY Change 31.12% 18.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.800M $8.700M
YoY Change -21.84% 135.14%
Total Long-Term Assets $57.17M $95.96M
YoY Change -40.42% 11.49%
TOTAL ASSETS
Total Short-Term Assets $146.8M $289.6M
Total Long-Term Assets $57.17M $95.96M
Total Assets $204.0M $385.5M
YoY Change -47.09% 9.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.90M $11.46M
YoY Change 21.25% 59.22%
Accrued Expenses $11.70M $14.70M
YoY Change -20.41% 72.94%
Deferred Revenue $97.96M
YoY Change 258.92%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $110.5M $124.1M
YoY Change -10.95% 183.3%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $90.10M $1.897M
YoY Change 4649.6% 23.74%
Total Long-Term Liabilities $90.10M $93.37M
YoY Change -3.5% -42.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $110.5M $124.1M
Total Long-Term Liabilities $90.10M $93.37M
Total Liabilities $200.6M $217.4M
YoY Change -7.75% 5.26%
SHAREHOLDERS EQUITY
Retained Earnings -$425.9M
YoY Change 61.19%
Common Stock $538.5M
YoY Change 44.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.489M $160.2M
YoY Change
Total Liabilities & Shareholders Equity $204.0M $385.5M
YoY Change -47.09% 8.99%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$40.53M -$41.94M
YoY Change -3.37% 16.85%
Depreciation, Depletion And Amortization $2.020M $1.860M
YoY Change 8.6% 51.22%
Cash From Operating Activities -$38.15M -$32.93M
YoY Change 15.85% -146.12%
INVESTING ACTIVITIES
Capital Expenditures -$140.0K -$1.600M
YoY Change -91.25% -17.1%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$140.0K -$1.600M
YoY Change -91.25% -17.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 11.39M -160.0K
YoY Change -7218.75% -100.26%
NET CHANGE
Cash From Operating Activities -38.15M -32.93M
Cash From Investing Activities -140.0K -1.600M
Cash From Financing Activities 11.39M -160.0K
Net Change In Cash -26.90M -34.69M
YoY Change -22.46% -126.47%
FREE CASH FLOW
Cash From Operating Activities -$38.15M -$32.93M
Capital Expenditures -$140.0K -$1.600M
Free Cash Flow -$38.01M -$31.33M
YoY Change 21.32% -142.72%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q2 us-gaap Other Assets Current
OtherAssetsCurrent
16328000
CY2020Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
6452000
CY2020Q2 us-gaap Assets Current
AssetsCurrent
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CY2019Q4 us-gaap Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
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CY2019Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2020Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
10000
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-40528000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
-4489000
us-gaap Profit Loss
ProfitLoss
-88021000
us-gaap Profit Loss
ProfitLoss
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wve Amortization Of Right Of Use Assets
AmortizationOfRightOfUseAssets
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wve Amortization Of Right Of Use Assets
AmortizationOfRightOfUseAssets
776000
us-gaap Depreciation
Depreciation
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us-gaap Depreciation
Depreciation
3637000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-7965000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-3104000
wve Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-1354000
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
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
94100000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;color:#212529;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;color:#212529;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has reclassified certain prior period financial statement amounts to conform to its current period presentation. These reclassifications have not changed the results of operations of prior periods.</p>
CY2020Q2 wve Other Receivable Miscellaneous Current
OtherReceivableMiscellaneousCurrent
16225000
CY2019Q4 wve Other Receivable Miscellaneous Current
OtherReceivableMiscellaneousCurrent
8205000
CY2020Q2 us-gaap Dividends Receivable
DividendsReceivable
30000
CY2019Q4 us-gaap Dividends Receivable
DividendsReceivable
200000
CY2020Q2 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
73000
CY2019Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
284000
CY2020Q2 us-gaap Other Assets Current
OtherAssetsCurrent
16328000
CY2019Q4 us-gaap Other Assets Current
OtherAssetsCurrent
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CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
50000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.22
us-gaap Restructuring Charges
RestructuringCharges
3400000
CY2020Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
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us-gaap Payments For Restructuring
PaymentsForRestructuring
2800000
CY2020Q2 us-gaap Restructuring And Related Cost Expected Cost Remaining1
RestructuringAndRelatedCostExpectedCostRemaining1
600000
CY2020Q1 us-gaap Restructuring Reserve
RestructuringReserve
1289000
CY2020Q2 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-20000
CY2020Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
689000
CY2020Q2 us-gaap Restructuring Reserve
RestructuringReserve
580000

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